Ryde Group Limited Class A (RYDE) AI Stock Analysis

• Market Cap: $14.20M
• Dividend Yield: N/A
• Average Volume (3M): 260.70K
• Price to Earnings (P/E): ―
• Beta (1Y): -1.62
• Revenue Growth: 3.69%
• EPS Growth: -50.95%
• Country: US
• Employees: 30
• Sector: General
• Sector Strength: N/A
• Industry: Software - Application
• EPS (TTM): -0.75
• Shares Outstanding: 34,019,463
• 10 Day Avg. Volume: 404,067
• 30 Day Avg. Volume: 260,705
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 6.96
• Enterprise Value/Revenue: 22.46
• Enterprise Value/Gross Profit: -11.23
• Enterprise Value/Ebitda: -7.43
• 1Y Price Target: $0.50
• Price Target Upside: 42.86% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 42 Neutral
• Price Target: $0.50 ▲(42.86% Upside)

Ryde Group Limited Class A is currently facing significant financial and valuation challenges. The company's negative profitability and high leverage are major concerns, reflected in its low financial performance score. Technical analysis provides mixed signals, with a bearish trend but neutral RSI. The negative P/E ratio further highlights the company's struggles with profitability, making it less attractive to investors.

Positive Factors

Revenue Growth

Consistent revenue growth indicates the company's ability to expand its market presence and increase service adoption, which is crucial for long-term sustainability.

Partnerships

Strategic partnerships enhance service utilization and user engagement, providing a durable competitive edge and potential for increased revenue streams.

Innovation and Sustainability

A focus on innovation and sustainability positions the company to adapt to industry trends and regulatory changes, supporting long-term growth and competitive advantage.

Negative Factors

Negative Profitability

Ongoing negative profitability challenges the company's ability to generate sustainable profits, impacting financial stability and long-term viability.

High Leverage

High leverage increases financial risk and limits flexibility, potentially hindering growth opportunities and increasing vulnerability to economic downturns.

Negative Cash Flow

Negative cash flow trends indicate potential liquidity issues, challenging the company's ability to fund operations and invest in growth without external financing.

Ryde Group Limited Class A Business Overview & Revenue Model

Company Description

Ryde Group Ltd engages in mobility and quick commerce businesses in Singapore. The Mobility segment provides carpooling and ride-hailing services. The Quick Commerce segment offers real-time on-demand, scheduled, and multi-stop parcel delivery services. The company was founded in 2014 and is headquartered in Singapore.

How the Company Makes Money

Ryde Group generates revenue primarily through its ride-sharing and logistics platforms. The company earns money by taking a commission from each ride booked through its app, as well as from delivery fees for package services. Additional revenue streams include partnerships with businesses for logistics solutions and advertising within its platform. Ryde Group has established significant partnerships with local governments and businesses to expand its service offerings, which contributes to its earnings by increasing user engagement and service utilization.

Ryde Group Limited Class A Financial Statement Overview

Summary

RYDE's financial performance is troubled, with negative profitability metrics, operational inefficiencies, and significant reliance on external financing. Despite modest improvements in equity and revenue growth, the negative cash flows and profitability weigh heavily.

Income Statement

RYDE's income statement reveals a challenging financial position, marked by negative profitability metrics. The gross profit margin improved from negative to positive over the years, but net profit margin remains negative, indicating significant losses. Revenue growth has shown positive trends, with a 3.26% increase in 2024. However, EBIT and EBITDA margins are deeply negative, reflecting operational inefficiencies or high costs.

Balance Sheet

The balance sheet shows a modest improvement in stockholders' equity, turning positive in 2024. The debt-to-equity ratio improved significantly as equity turned positive, reducing financial leverage risks. However, the equity ratio remains low at 43.73%, suggesting a continued reliance on liabilities. The overall improvement in equity is a positive sign, but the company's financial stability is still fragile.

Cash Flow

RYDE's cash flow analysis highlights significant challenges with negative operating and free cash flows. The operating cash flow to net income ratio indicates a lack of efficiency in converting income into cash. Although financing cash flow is positive, indicating external funding, this reliance on external capital could pose long-term sustainability risks.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.95M	8.67M	6.40M	4.61M
Gross Profit	2.08M	1.85M	-765.78K	170.41K
EBITDA	-18.04M	-12.02M	-4.46M	-849.00K
Net Income	-18.65M	-12.83M	-3.57M	-916.02K
Balance Sheet
Total Assets	9.08M	5.20M	3.22M	2.74M
Cash, Cash Equivalents and Short-Term Investments	5.52M	1.69M	2.24M	1.95M
Total Debt	135.00K	5.20M	5.55M	2.11M
Total Liabilities	5.22M	12.62M	8.96M	4.77M
Stockholders Equity	3.97M	-5.57M	-5.69M	-2.01M
Cash Flow
Free Cash Flow	-12.31M	-2.10M	-3.13M	-328.16K
Operating Cash Flow	-11.73M	-1.61M	-2.79M	-83.34K
Investing Cash Flow	-580.00K	-422.00K	-349.53K	-244.82K
Financing Cash Flow	16.14M	721.00K	3.41M	372.06K

Ryde Group Limited Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.35
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYDE, the sentiment is Positive. The current price of 0.35 is above the 20-day moving average (MA) of 0.35, above the 50-day MA of 0.33, and above the 200-day MA of 0.32, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 59.87 is Neutral, neither overbought nor oversold. The STOCH value of 28.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RYDE.

Ryde Group Limited Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVNI	49 Neutral	$50.10M	-3.06	71.52%	―	―	―
RYDE	42 Neutral	$14.20M	―	230.42%	―	3.69%	-50.95%
ELWS	42 Neutral	$7.92M	-4.71	-346.76%	―	136.36%	28.66%
ULY	41 Neutral	$4.70M	-0.13	139.02%	―	-20.81%	-139.45%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

Ryde Group Limited Class A Corporate Events

Ryde Group Converts Class B to Class A Shares, Adjusting Share Structure

On September 15, 2025, Ryde Group Limited’s Board of Directors approved the conversion of 1,365,225 Class B Ordinary Shares held by Octava Fund Limited into Class A Ordinary Shares, increasing Octava’s total to 8,030,738 Class A shares. This conversion raises the total number of outstanding Class A shares to 35,384,651, impacting the company’s share structure and voting power dynamics, as Class A shares hold one vote each and are traded on the NYSE American.

Ryde Group Secures $1.6 Million in Direct Offering

On September 8, 2025, Ryde Group Ltd announced a securities purchase agreement to sell 6,422,000 Class A shares at US$0.25 each, aiming to raise approximately US$1.6 million in a registered direct offering. The offering, expected to close around September 10, 2025, is intended to support the company’s working capital and general corporate purposes, potentially impacting its operational flexibility and market positioning.

Ryde Group Ltd’s Compliance Plan Accepted by NYSE American

On August 8, 2025, Ryde Group Ltd announced that its plan to regain compliance with NYSE American’s listing standards was accepted. The company had previously been notified on May 21, 2025, of non-compliance due to stockholders’ equity below $4 million and losses in three of the last four fiscal years. Ryde submitted a compliance plan by the June 20 deadline, which was accepted on August 5, 2025, granting them until November 21, 2026, to meet the standards. During this period, Ryde’s shares will continue to be listed and monitored quarterly. The acceptance of the plan does not impact the company’s operations or financial condition, but failure to comply by the deadline could lead to delisting proceedings.

Ryde Group Acquires 40% Stake in Atoll to Boost EV Presence

On June 16, 2025, Ryde Group Ltd acquired a 40% stake in Atoll Discovery Pte Ltd, an electric vehicle rental company in Singapore, marking a strategic move to expand its footprint in the growing EV market. This acquisition aligns with Singapore’s Green Plan 2030 and positions Ryde as a significant player in the EV transition in Southeast Asia, enhancing its operational flexibility and potential revenue growth through deeper integration of EVs into its services.