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Urgent.ly Inc (ULY)
NASDAQ:ULY
Holding ULY?
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.29Last Year’s EPS
11.95Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 14, 2024
|% Change Since: -23.44%
|Next Earnings Date:Nov 14, 2023
Earnings Call Sentiment|Neutral
The earnings call highlights consistent revenue performance and successful contract renewals, alongside significant operational improvements and recognition for innovation. However, these positives are counterbalanced by a notable year-over-year revenue decline, the loss of a key customer partner, and a substantial book loss from a divestiture. The upcoming debt maturity also adds a layer of financial uncertainty.Company Guidance
During the Q3 2024 earnings call for Urgently, CEO Matt Booth highlighted several key performance metrics and strategic initiatives. The company reported a revenue of $36.2 million, marking their fourth consecutive quarter meeting revenue guidance. Gross margin improved slightly to 21%, compared to 20% in the prior year, demonstrating ongoing efforts toward a long-term gross margin target of 25% to 30%. Operating expenses saw a 9% improvement year-over-year, and significant reduction in headcount contributed to operational efficiencies. Urgently renewed contracts with major partners, including a 3-year renewal with a global automotive fleet management company and a 2-year renewal with a leading vehicle rental firm. Despite a strategic contract wind-down with a top 5 global OEM, Urgently acquired three new customer partners, offsetting this loss. The company is targeting a non-GAAP operating breakeven by Q1 2025, after reporting a 17% improvement in non-GAAP operating loss in Q3 2024 compared to the previous year. Additionally, Urgently divested its Otonomo business unit to focus on core business operations, with the transaction resulting in a $3.3 million book loss for the quarter. The firm ended Q3 with $17.4 million in cash and is negotiating a new credit line to address a $54.3 million debt maturing in January 2025.Consistent Revenue Performance
Urgently delivered Q3 2024 revenue of $36.2 million, meeting their expectations and marking the fourth consecutive quarter of delivering on revenue guidance.
Successful Contract Renewals
Secured a 3-year contract renewal with a global automotive fleet management company and a 2-year renewal with a major vehicle rental company, reflecting strong client satisfaction and trust.
Operational Efficiency Improvements
Achieved a 16% year-over-year improvement in quarterly non-GAAP operating expenses and a 17% improvement in quarterly non-GAAP operating loss.
Recognition for Innovation
Urgently's AI-driven yield-based pricing technology won the AutoTech Breakthrough Award for Transportation Tech of the Year.
Significant Reduction in Workforce
Reduced total employee count by 46% and customer support representatives by 45% year-over-year, contributing to reduced operating expenses.
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ULY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ULY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $0.64 | $0.62 | -3.13% |
| Aug 12, 2024 | $1.04 | $1.01 | -2.88% |
| May 13, 2024 | $2.15 | $2.07 | -3.72% |
| Mar 14, 2024 | $3.17 | $2.47 | -22.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Urgent.ly Inc (ULY) report earnings?
Urgent.ly Inc (ULY) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is Urgent.ly Inc (ULY) earnings time?
Urgent.ly Inc (ULY) earnings time is at Mar 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ULY EPS forecast?
ULY EPS forecast for the fiscal quarter 2024 (Q4) is -0.29.
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