Core Insights - Urgently Inc. reported financial results for Q4 and full-year 2024, highlighting revenue in line with expectations and significant improvements in profitability metrics [1][2] - The company achieved a gross profit margin improvement of 160 basis points and a 41% reduction in GAAP operating loss year-over-year [2][6] - Urgently secured contract renewals and expanded services with existing customers, indicating strong demand for its technology platform [2] Financial Performance - Q4 2024 revenue was $32.0 million, a decrease of 29% year-over-year, with a gross profit of $7.1 million, down 30% from the previous year [6][17] - Full-year 2024 revenue totaled $142.9 million, a decrease of 23% year-over-year, while gross profit was $31.6 million, down 17% [6][17] - GAAP operating expenses for Q4 were $11.7 million, a significant improvement of 65% compared to $34.0 million in the prior year [6][17] Operating Loss and Expenses - GAAP operating loss for Q4 was $4.6 million, an improvement of 81% from $23.8 million in the prior year [6][17] - Non-GAAP operating loss for Q4 was $3.0 million, down 62% from $7.9 million year-over-year [6][19] - Full-year GAAP operating loss was $27.2 million, improved by 41% from $46.1 million in the previous year [6][17] Capital Structure and Stockholder Actions - In February 2025, the company entered a new credit agreement for an asset-based revolving credit facility of up to $20 million, enhancing financial flexibility [3] - A reverse stock split was approved by stockholders at a ratio to be determined, aimed at regaining compliance with Nasdaq listing requirements [3] Customer Engagement and Satisfaction - Approximately 201,000 dispatches were completed in Q4 2024, with a consumer satisfaction score of 4.5 out of 5 stars [6][12] - The company continues to focus on enhancing user experiences through its technology platform, which integrates location-based services and real-time data [8]

Core Insights - Urgently, Inc. will host a conference call on March 12, 2025, at 5:00 p.m. Eastern Time to discuss its financial results for Q4 and the full year ended December 31, 2024 [1] - Financial results will be released in a press release prior to the conference call [1] Company Overview - Urgently is a leading provider of digital roadside and mobility assistance technology and services, focused on ensuring safe and uninterrupted movement for drivers [3] - The company utilizes a digitally native software platform that integrates location-based services, real-time data, AI, and machine-to-machine communication to enhance roadside assistance solutions [3] - Urgently aims to fulfill the demand for connected roadside assistance services, enabling partners to deliver exceptional user experiences that foster high customer satisfaction and loyalty [3]

Core Insights - Urgently Inc. has reached an agreement with lenders to improve its capital structure, including a new credit facility of up to $20 million to support business growth initiatives [1][2] - The new credit facility will be utilized to repay existing debt and advance Urgently's mission to transform the roadside assistance market and develop connected mobility assistance services [1][2] - The support from financial partners indicates confidence in Urgently's business model and growth potential [3] Financial Structure Improvements - Urgently has entered into a new asset-based revolving credit facility for up to $20 million with MidCap Financial [1] - Certain funds managed by Highbridge Capital Management, Onex Credit, and Whitebox Advisors have agreed to forego certain fees in exchange for 1,358,073 shares of Urgently's common stock and an extension of second lien term loans until July 31, 2026 [2][3] Business Strategy and Market Position - Urgently aims to transform the legacy roadside assistance market and develop new connected mobility assistance services on a global scale [2] - The company utilizes technology to enhance the consumer roadside experience, indicating a strong focus on innovation and customer satisfaction [2][3] - Urgently's digital platform combines location-based services, real-time data, AI, and machine-to-machine communication to deliver exceptional user experiences [4]

Core Viewpoint - Urgently Inc. has reached agreements with its lenders for short-term extensions on its term loan agreements as it works on improving its capital structure [1][2] Company Overview - Urgently is a leading provider of digital roadside and mobility assistance technology and services, focusing on enhancing driver safety and experience through innovative technology [2] - The company's platform integrates location-based services, real-time data, AI, and machine-to-machine communication to deliver roadside assistance solutions [2] Financial Developments - The maturity date for first lien term loans has been extended to February 15, 2025, while second lien term loans have been extended until March 17, 2025 [1] - The CFO of Urgently expressed satisfaction with the extensions, indicating they align with the company's goals of reducing debt and improving capital structure [2]

VIENNA, Va, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Urgent.ly Inc. (Nasdaq: ULY) (“Urgently” or “the Company”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, announced today its board of directors has appointed Alex Zyngier to serve as a member of the board, effective January 23, 2025. “Alex is a seasoned leader with a proven track record of navigating complex business challenges and driving growth,” said Matt Booth, Chief Executive Officer and President of Urg ...

VIENNA, Va., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Urgent.ly, Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today announced the date for the release of its third quarter 2024 financial results and its participation in upcoming investor conferences. Third Quarter 2024 Earnings Urgently will host a conference call on Tuesday, November 12, 2024, at 5:00 p.m. Eastern Time to discuss its financial results for the third quarter ende ...

VIENNA, Va., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Urgent.ly, Inc. (Nasdaq: ULY) ("Urgently"), a U.S.- based leading provider of digital roadside and mobility assistance technology and services, today announced the strategic divestiture of its wholly owned subsidiary, The Floow, a leading provider of connected insurance technology. The transaction is part of Urgently's strategic effort to divest non-core assets and dedicate its resources to advancing its core business. Urgently powers the roadside assistance p ...

VIENNA, Va., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Urgent.ly Inc. (Nasdaq: ULY) ("Urgently"), a U.S.- based leading provider of digital roadside and mobility assistance technology and services, today reported financial results for the second quarter ended June 30, 2024. "We are pleased with our second quarter results, which were in line with our revenue expectations. I am proud of the effort across the entire team to deliver renewals of all three customer partner contracts that were set to conclude, and which c ...

Second Quarter 2024 Earnings Those wishing to participate via webcast should access the call through Urgently's Investor Relations website at https://investors.geturgently.com. Those wishing to participate via telephone may dial in at 1-888-243-4451 (USA) or 1-412-317-6789 (International). The replay will be available via webcast through Urgently's Investor Relations website. The telephone replay will be available from 8:00 p.m. Eastern Time on August 12, 2024, through August 26, 2024, by dialing 1-877-344- ...

Core Viewpoint - Urgently, a leading provider of digital roadside and mobility assistance technology, is set to release its second quarter 2024 financial results and participate in the Sidoti Micro-Cap Virtual Investor Conference, highlighting its focus on enhancing user experiences through innovative technology solutions [4][8]. Company Overview - Urgently specializes in providing connected roadside assistance services, utilizing a digitally native software platform that integrates location-based services, real-time data, AI, and machine-to-machine communication [3]. - The company aims to deliver exceptional user experiences that foster high customer satisfaction and loyalty across various transportation-focused sectors, including automotive and insurance [3]. Financial Results Announcement - The financial results for the second quarter ended June 30, 2024, will be discussed in a conference call scheduled for August 12, 2024, at 5:00 p.m. Eastern Time [7]. - A press release detailing the financial results will be issued prior to the call [7]. Investor Conference Participation - Urgently will participate in the Sidoti Micro-Cap Virtual Investor Conference on August 14-15, 2024, with a presentation scheduled for August 15 at 10:00 a.m. Eastern Time [8]. - The conference will include one-on-one meetings with investors, providing an opportunity for direct engagement with company management [8].