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Getaround, Inc. (GETR)
OTHER OTC:GETR
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Getaround
(OTC:GETR)
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Rating:44Neutral
Price Target:―
Getaround, Inc. presents a challenging investment case. While there is positive revenue growth, significant risks stem from negative profitability, high leverage, and liquidity issues. Technical analysis shows some upward momentum, but valuation metrics highlight profitability concerns. The stock requires careful consideration given its financial instability and mixed technical signals.
Getaround (GETR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.16K
Dividend YieldN/A
Average Volume (3M)139.69K
Price to Earnings (P/E)―
Beta (1Y)4.51
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees290
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)N/A
Shares Outstanding97,197,680
10 Day Avg. Volume355,647
30 Day Avg. Volume139,693
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)6.98
Price to Sales (P/S)0.30
P/FCF Ratio-0.36
Enterprise Value/Market Cap3.32K
Enterprise Value/Revenue1.26
Enterprise Value/Gross Profit45.29
Enterprise Value/Ebitda-1.28
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Getaround Business Overview & Revenue Model
Company DescriptionGetaround, Inc. operates an online marketplace for peer-to-peer car sharing. The company offers Getaround, a digital carsharing marketplace connects guests who want instant access to cars nearby 24/7 for a variety of use cases. It rents convertibles, minivan, luxury, cargo van, SUV/jeep, coupe/sedan, pickup truck, and hatchback/wagon. Getaround, Inc. was incorporated in 2009 and is based in San Francisco, California.
How the Company Makes MoneyGetaround makes money through a commission-based revenue model. The company charges a percentage fee on each rental transaction facilitated through its platform. This fee is deducted from the total rental cost paid by the renter. Additionally, Getaround may offer optional insurance and protection plans for renters, which can also contribute to its revenue. Key partnerships with automotive and technology companies can enhance its service offerings and provide strategic advantages in expanding its market presence, although specific partnership details are null.
Getaround Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q2-2024)
| % Change Since: |
Next Earnings Date:Aug 18, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant improvements in margins and EBITDA, showing positive momentum despite flat revenue and operational challenges like exiting the New York market. The acquisition of HyreCar and enhancements in technology platforms were notable positive aspects. However, the persistent challenge of maintaining revenue growth and the complications with stock exchange listings were key concerns.Q2-2024 Updates
Positive Updates
Improved Trip Contribution Margin
Year-over-year Q2 Trip Contribution Margin improved from 43% to 53%, reflecting a focus on controlling Trip support costs.
Significant EBITDA Improvement
Adjusted EBITDA loss improved by 49% to $11.4 million year-over-year.
HyreCar Acquisition Benefits
The acquisition of HyreCar assets contributed positively, expanding the Drive with Uber program and integrating operational leadership.
Global Technology Platform and New Features
Updates to the gig and global technology platform, including the launch of new features such as Key Exchange, are expected to drive top line growth.
Gross Margin Improvement
Gross margin from Service revenue reached 88% in Q2 2024, an improvement of 300 basis points year-over-year.
Negative Updates
Flat Top Line Revenue
Total net revenue remained consistent with the previous year at $18.6 million, with no year-over-year growth.
Decline in Trips Due to New York Market Exit
Trips for the second quarter were down from 257,000 in Q2 2023 to 235,000, largely attributed to suspending operations in New York.
Stock Exchange Listing Issues
The company withdrew its appeal to the NYSE due to non-compliance with listing requirements, impacting its exchange listing status.
Company Guidance
During Getaround's Q2 2024 earnings call, the management team provided detailed guidance on various financial and operational metrics. The company's Trip Contribution Margin improved substantially from 43% to 53% year-over-year, reflecting efforts in controlling trip support costs. Despite suspending operations in New York, Getaround maintained consistent net revenue at $18.6 million, though gross booking value saw a slight decline to $53 million. Adjusted EBITDA loss improved by 49% to $11.4 million, compared to the previous year. Additionally, the gross margin from service revenue increased by 300 basis points, reaching 88% in Q2 2024. Operational expenses decreased by $6.6 million due to optimized marketing, support, and general administrative costs, and the company ended the quarter with a cash position of $30.9 million, bolstered by a $20 million addition from the Mudrick Capital debt facility. The management emphasized ongoing initiatives to enhance profitability and growth, including expanding their gig business and leveraging AI for improved customer experience and risk management.Getaround Financial Statement Overview
Summary
Getaround, Inc. is experiencing revenue growth, but faces significant profitability, liquidity, and leverage challenges. With negative equity and margins, the company needs strategic improvements to enhance financial stability.Income Statement
Getaround, Inc. shows a consistent increase in revenue over the years, with a 5.76% revenue growth from the previous year, indicating a positive growth trajectory. However, the company is struggling with profitability, as evidenced by negative EBIT and net income. The gross profit margin is low at 2.78% for the TTM, reflecting challenges in cost management or pricing strategy. The net profit margin remains negative, indicating that despite revenue growth, the company is not achieving profitability.45
Neutral
Balance Sheet
The balance sheet reflects a concerning financial position with negative stockholders' equity, indicative of accumulated losses exceeding shareholder investments. The debt-to-equity ratio cannot be calculated due to negative equity, posing a risk if creditors demand repayment. The equity ratio is negative, further emphasizing the company's high leverage and financial instability.30
Negative
Cash Flow
The cash flow statement highlights significant challenges, with a negative free cash flow indicating that operating cash flows are insufficient to cover capital expenditures. However, there is a slight improvement in operating cash flow to net income ratio, suggesting potential efficiency improvements in operations. The free cash flow to net income ratio remains negative, pointing to ongoing liquidity concerns.40
Negative
| Breakdown | TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 76.87M | 72.68M | 59.45M | 63.07M | 58.73M |
| Gross Profit | 2.14M | 7.19M | 53.88M | 57.02M | 51.43M |
| EBITDA | -75.78M | -85.35M | -120.75M | -101.19M | -150.09M |
| Net Income | -92.05M | -113.95M | -136.06M | -120.06M | -165.06M |
Balance Sheet | |||||
| Total Assets | 153.31M | 161.14M | 205.42M | 226.94M | 247.99M |
| Cash, Cash Equivalents and Short-Term Investments | 30.80M | 15.62M | 64.29M | 62.52M | 50.40M |
| Total Debt | 121.55M | 80.61M | 81.55M | 114.10M | 35.27M |
| Total Liabilities | 186.77M | 158.02M | 135.92M | 628.16M | 525.49M |
| Stockholders Equity | -33.45M | 3.12M | 69.50M | 9.15M | 122.35M |
Cash Flow | |||||
| Free Cash Flow | -59.11M | -61.33M | -135.88M | -82.55M | -150.30M |
| Operating Cash Flow | -56.99M | -56.12M | -132.53M | -81.05M | -149.93M |
| Investing Cash Flow | -2.09M | -12.92M | -3.35M | -1.09M | 416.00K |
| Financing Cash Flow | 63.74M | 16.59M | 138.16M | 85.97M | 150.53M |
Getaround Technical Analysis
Negative
0.01
Price Trends
0.02
Negative
0.02
Negative
0.03
Negative
Market Momentum
<0.01
Negative
45.00
Neutral
54.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GETR, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a bearish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 45.00 is Neutral, neither overbought nor oversold. The STOCH value of 54.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GETR.
Getaround Risk Analysis
Getaround disclosed 92 risk factors in its most recent earnings report. Getaround reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Getaround Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
| ― | $1.60B | 33.02 | ― | ― | -7.41% | ― | |
| ― | $21.45M | ― | -354.82% | ― | 34.50% | 70.55% | |
| ― | $259.54M | ― | -25.48% | ― | -28.45% | -224.48% | |
| ― | $32.59M | -5.63 | -218.42% | ― | -2.39% | -3.11% | |
| ― | $576.22M | ― | -75.71% | ― | -5.06% | -2318.18% | |
| ― | $29.16K | -0.01 | 275.16% | ― | ― | ― |
* Technology Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.