Ryde Group Limited Class A (RYDE) AI Stock Analysis

• Market Cap: $35.88M
• Dividend Yield: N/A
• Average Volume (3M): 3.73M
• Price to Earnings (P/E): ―
• Beta (1Y): -1.52
• Revenue Growth: 34.50%
• EPS Growth: 70.55%
• Country: US
• Employees: 30
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.75
• Shares Outstanding: 108,964,650
• 10 Day Avg. Volume: 10,405,046
• 30 Day Avg. Volume: 3,726,581
• PEG Ratio: -0.02
• Price to Book (P/B): 3.36
• Price to Sales (P/S): 1.49
• P/FCF Ratio: -1.08
• Enterprise Value/Market Cap: 0.19
• Enterprise Value/Revenue: 0.53
• Enterprise Value/Gross Profit: 2.18
• Enterprise Value/Ebitda: -0.59
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: $0.28 ▼(-25.14% Downside)

Ryde Group Limited Class A is currently facing significant financial and operational challenges. The most impactful factor is the company's weak financial performance, characterized by negative profitability and high leverage. Technical analysis further supports a bearish outlook with indicators pointing to a downtrend. Valuation metrics are also unfavorable, with a negative P/E ratio and no dividend yield, making the stock less attractive for investors.

Positive Factors

Revenue Growth Trend

Ryde's ~34.5% reported revenue growth signals sustained top-line momentum across ride‑sharing and fleet services. Durable revenue expansion supports scaling unit economics, improves leverage on fixed costs, and provides runway to invest in product and market development over the next several quarters.

EV Partnerships & Fleet Access

Strategic partnerships and a call option to acquire up to 400 EVs create durable competitive advantages: access to electric inventory, closer OEM/provider ties, and product differentiation. This aligns Ryde with long‑term electrification trends and can diversify revenue and reduce operating emissions over time.

Capital Raises Bolster Liquidity

A meaningful $14M capital raise strengthens near‑term liquidity and funds working capital and strategic initiatives. Improved funding reduces immediate refinancing risk, enabling execution of EV and platform investments that support medium‑term growth and operational resilience.

Negative Factors

High Leverage and Balance Sheet Risk

Elevated leverage and historically negative equity constrain financial flexibility, raising refinancing and covenant risk. Over months this limits ability to fund growth organically, increases interest burden, and makes the company more vulnerable to market shocks or slower revenue converts into persistent solvency pressure.

Negative Free Cash Flow / Funding Dependence

Persistent negative free cash flow indicates the business does not self‑fund operations and relies on external financing. That dependence risks dilution or higher borrowing costs if capital markets tighten, and creates execution risk for multi‑quarter initiatives like EV fleet rollouts.

Persistent Losses & Rising Operating Costs

Ongoing negative EBIT and net margins, coupled with rising driver and employee costs, reflect structural margin pressure. Without sustainable unit economics improvements or cost controls, profitability recovery will be protracted, limiting free cash flow generation and long‑term shareholder returns.

Ryde Group Limited Class A Business Overview & Revenue Model

Company Description

Ryde Group Limited Class A (RYDE) is a diversified technology and service company specializing in innovative solutions across multiple sectors, including transportation, logistics, and mobile applications. The company focuses on enhancing user experiences through its core offerings, which include ride-sharing services, fleet management solutions, and digital platforms designed to streamline transportation operations for both consumers and businesses.

How the Company Makes Money

Ryde Group Limited generates revenue primarily through its ride-sharing platform, where it takes a commission from each ride booked through its app. Additionally, the company earns income from its fleet management services by charging businesses for the use of its technology to optimize their vehicle operations. Other revenue streams include partnerships with local businesses for promotional advertisement on their platform and subscription models for premium services. The company's strategic partnerships with automotive manufacturers and technology providers also enhance its service offerings and contribute to its earnings.

Ryde Group Limited Class A Financial Statement Overview

Summary

Ryde Group Limited Class A is facing significant financial challenges, with persistent negative profitability and high leverage. While there is some revenue growth, the company's ability to generate sustainable profits and maintain financial stability is questionable. The reliance on external financing further underscores the need for strategic improvements.

Income Statement

The company has shown revenue growth over the years, with a 3.26% increase from 2023 to 2024. However, profitability remains a significant issue, with persistent negative EBIT and net income margins, indicating ongoing operational challenges and inefficiencies.

Balance Sheet

The balance sheet reveals high leverage with a debt-to-equity ratio that is concerning, especially given the negative equity in previous years. Although there is some improvement in equity, the company's financial stability is still at risk due to high liabilities relative to assets.

Cash Flow

Cash flow analysis shows a negative trend in free cash flow, indicating potential liquidity issues. The operating cash flow to net income ratio is negative, highlighting inefficiencies in converting sales into cash. However, there is a positive financing cash flow, suggesting reliance on external funding.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.20M	8.95M	8.67M	8.82M	6.20M
Gross Profit	3.21M	2.08M	1.85M	-765.78K	170.41K
EBITDA	-11.76M	-18.04M	-12.02M	-4.75M	-1.29M
Net Income	-12.34M	-18.65M	-12.83M	-4.92M	-1.23M
Balance Sheet
Total Assets	7.26M	9.08M	5.20M	3.22M	2.74M
Cash, Cash Equivalents and Short-Term Investments	3.32M	5.52M	1.69M	2.24M	2.85M
Total Debt	97.00K	135.00K	5.20M	5.55M	500.00K
Total Liabilities	5.01M	5.22M	12.62M	8.96M	4.77M
Stockholders Equity	2.36M	3.97M	-5.57M	-4.96M	-155.00K
Cash Flow
Free Cash Flow	-5.40M	-12.31M	-2.10M	-3.13M	-328.16K
Operating Cash Flow	-5.37M	-11.73M	-1.61M	-2.79M	-83.34K
Investing Cash Flow	-771.50K	-580.00K	-422.00K	-482.00K	-329.00K
Financing Cash Flow	5.07M	16.14M	721.00K	4.70M	500.00K

Ryde Group Limited Class A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.37
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYDE, the sentiment is Negative. The current price of 0.37 is above the 20-day moving average (MA) of 0.32, below the 50-day MA of 0.38, and above the 200-day MA of 0.35, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 40.66 is Neutral, neither overbought nor oversold. The STOCH value of 37.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
MNDO	78 Outperform	$23.42M	8.23	12.73%	18.97%	-9.54%	-40.68%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
MTC	51 Neutral	$67.50M	-0.61	-291.75%	―	―	―
NXPL	42 Neutral	$17.65M	-2.09	-37.97%	―	-14.03%	52.39%
SOPA	41 Neutral	$16.35M	-0.94	-137.15%	―	4.65%	55.05%
RYDE	38 Underperform	$35.88M	-1.06	-354.82%	―	34.50%	70.55%

Ryde Group Limited Class A Corporate Events

Ryde Group Ltd Expands into EV Rental Market with Strategic Partnerships

On December 10, 2025, Ryde Group Ltd announced a strategic expansion into the electric vehicle (EV) rental market, marking a significant step in its sustainable mobility initiatives. By partnering with Guan Chao Holdings Ltd and Singapore Electric Vehicles Pte Ltd, Ryde secured a call option agreement to purchase up to 400 EVs over the next six months. This move positions Ryde to capitalize on the growing demand for eco-friendly transportation in Singapore, driven by supportive government policies and rapid consumer adoption. The initiative is expected to diversify Ryde’s revenue streams, enhance rider and driver experiences, and strengthen its ESG leadership, ultimately creating new opportunities for long-term value creation for stakeholders.

The most recent analyst rating on (RYDE) stock is a Hold with a $0.51 price target. To see the full list of analyst forecasts on Ryde Group Limited Class A stock, see the RYDE Stock Forecast page.

Ryde Group Ltd Completes Private Offering of Class A Shares

On December 9, 2025, Ryde Group Ltd successfully concluded a private offering of 33,334,000 Class A ordinary shares at a price of US$0.36 per share. This transaction marks a significant step in the company’s financial strategy, potentially enhancing its market position and providing additional capital for future endeavors.

The most recent analyst rating on (RYDE) stock is a Hold with a $0.51 price target. To see the full list of analyst forecasts on Ryde Group Limited Class A stock, see the RYDE Stock Forecast page.

Ryde Group Ltd Secures US$14 Million Through Share Offerings

On December 3, 2025, Ryde Group Ltd announced it had entered into agreements for a US$14 million fundraising effort through a private placement and a registered direct offering of Class A ordinary shares. The private placement involves 33,334,000 shares, while the registered direct offering includes 5,556,000 shares, both priced at US$0.36 per share. The proceeds are intended for working capital and general corporate purposes. The registered direct offering was set to close on December 3, 2025, with the private placement expected to close on December 9, 2025. These offerings are anticipated to strengthen Ryde’s financial position and support its operations in the competitive mobility and quick commerce sectors.

The most recent analyst rating on (RYDE) stock is a Hold with a $0.51 price target. To see the full list of analyst forecasts on Ryde Group Limited Class A stock, see the RYDE Stock Forecast page.

Ryde Group Strengthens Capital with Class B Share Issuance

On December 2, 2025, Ryde Group Limited issued 5,500,000 Class B Ordinary Shares to its Founder, Chairman, and CEO, Mr. Terence Zou, after achieving performance-based milestones. These milestones included a successful $10 million private offering and over 20% revenue growth in the first half of 2025 compared to the same period in 2024. The issuance strengthens the company’s capital position and supports its Ryde 2.0 growth strategy, focusing on expanding its electric vehicle fleet and leasing operations. Following this issuance, Mr. Zou holds significant voting power, with 64.4% of the aggregate voting power, despite Class B shares not being listed on the NYSE American market.

The most recent analyst rating on (RYDE) stock is a Hold with a $0.51 price target. To see the full list of analyst forecasts on Ryde Group Limited Class A stock, see the RYDE Stock Forecast page.

Ryde Group Announces Director Resignation

On November 17, 2025, Ryde Group Ltd, a company headquartered in Singapore, announced the resignation of Mr. Tan Ting Yong from its board of directors. The departure was clarified to be amicable, with no disagreements related to the company’s operations, policies, or practices, indicating a smooth transition for the company.

The most recent analyst rating on (RYDE) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Ryde Group Limited Class A stock, see the RYDE Stock Forecast page.