Insights and predictive pricing empower Urgently's customer partners to build roadside assistance programs that best fit their business goals, such as: Maximizing performance while maintaining a stable cost structure Balancing performance and cost by market Increasing performance by market or job attribute, such as a premium/VIP program A combination of machine learning, location aggregation and micro-targeting by make, model and custom markets, delivers actionable insights into network pricing based on geo ...

Customer Partners and Service Providers - As of March 31, 2024, the company has 57 Customer Partners and over 71,000 participating Service Provider vehicle drivers in its network[96]. Dispatches and Revenue - For the three months ended March 31, 2024, the company completed approximately 231,000 dispatches, a decrease from 319,000 dispatches in the same period of 2023[112]. - Total revenue decreased by $9.5 million, or 19%, to $40.1 million for the three months ended March 31, 2024, compared to $49.6 million for the same period in 2023[132]. - The company experienced a significant revenue impact from one Customer Partner that accounted for approximately 25% of its revenue in 2023, which did not renew its agreement[101]. Operating Loss and Expenses - The company's non-GAAP operating loss for the three months ended March 31, 2024, was $5.1 million, compared to a non-GAAP operating loss of $5.4 million in the same period of 2023[118]. - The company expects operating expenses to decrease in the short term due to a realignment strategy but anticipates an increase in the long term as it continues targeted investments in growth[104]. - Operations and support expenses decreased by $2.9 million, or 40%, to $4.3 million for the three months ended March 31, 2024, due to optimization initiatives[140]. - General and administrative expenses decreased by $1.5 million, or 20%, to $6.0 million for the three months ended March 31, 2024, mainly due to reduced transaction-related expenses[142]. - Research and development expenses increased by $0.5 million, or 13%, to $4.2 million for the three months ended March 31, 2024, driven by Otonomo-related expenses[136]. - Sales and marketing expenses rose by $0.9 million, or 88%, to $2.0 million for the three months ended March 31, 2024, primarily due to Otonomo-related expenses[138]. Cash Flow and Debt - As of March 31, 2024, the company had $34.2 million in cash, cash equivalents, and restricted cash, with a principal debt balance of $54.3 million[147]. - In Q1 2024, the company reported a net cash used in operating activities of $9.7 million, primarily due to a net loss of $13.0 million[154]. - Net cash used in financing activities for Q1 2024 was $18.1 million, mainly due to $17.5 million in payments on the Structural term loan[157]. - As of March 31, 2024, the company's total debt amounted to $54.3 million, with 18% of this debt accruing interest at a variable rate[166]. - The company anticipates seeking additional capital through equity securities or debt financing arrangements if current liquidity is insufficient[151]. Workforce and Employment Changes - The company eliminated 63 employees in Q1 and Q2 2024, representing a total reduction of approximately 19% of its workforce as of March 31, 2024[152]. - The company plans to continue actions to align operating expenses with revenue, indicating potential further workforce reductions[152]. Customer Satisfaction and Service Requests - The company has historically averaged a consumer satisfaction score of 4.5 out of 5 stars, with a score of 4.6 for the three months ended March 31, 2024[110]. - The company has observed increased roadside assistance service requests during economic downturns, as consumers may delay vehicle maintenance[107]. Technology and Integration - The company capitalized $1.6 million in costs associated with internal development of its technology platform in Q1 2024 and expects to invest an additional $2.5 million to $4.5 million during the remainder of 2024[105]. - The company anticipates that the integration of Otonomo's Mobility Platform will enhance customer service experience by improving data capabilities and features[97]. Other Financial Metrics - Gross profit for the three months ended March 31, 2024, was $9.4 million, a slight increase of 1% compared to $9.3 million for the same period in 2023[135]. - Depreciation and amortization expense increased to $1.1 million for the three months ended March 31, 2024, from less than $0.1 million in the same period in 2023[144]. - Other expense, net decreased by $2.8 million, or 38%, to $4.6 million for the three months ended March 31, 2024, primarily due to a decrease in interest expense[145]. Currency Exposure - The company has not engaged in hedging foreign currency transactions to date, which may expose it to exchange rate fluctuations[169]. - A hypothetical 10% change in the relative value of the U.S. dollar to other currencies would not have had a material effect on the company's financial statements[170].

Urgent.ly Inc. (NASDAQ:ULY) Q1 2024 Earnings Conference Call May 13, 2024 5:00 PM ET Company Participants Jenny Mitchell - VP, Finance Strategy and IR Matt Booth - President and CEO Tim Huffmyer - CFO Conference Call Participants Chris Pierce - Needham Brian Dobson - Chardan Capital Markets Operator Good afternoon and welcome to Urgent.ly's First Quarter 2024 Conference Call. As a reminder, today's call is being recorded and your participation implies consent to such recording. At this time, all participant ...

EXHIBIT 99.1 URGENTLY ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS First Quarter Performance Reflects Continued Margin Expansion Press: media@geturgently.com Investor Relations: investorrelations@geturgently.com VIENNA, VA – May 13, 2024 – 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 first quarter ended March 31, 2024. "Our first quarter financial performance was in lin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-41841 URGENT.LY INC. The number of shares of registrant's common stock outstanding as of March 25, 2024 was 13,414,185. DOCUMENTS INC ...

EXHIBIT 99.1 URGENTLY ANNOUNCES FOURTH QUARTER AND FULL-YEAR 2023 FINANCIAL RESULTS Company Continues to Make Progress on Strategic Initiatives to Enhance Profitability and Drive Margin Expansion VIENNA, VA – March 14, 2024 – 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 fourth quarter and full-year ended December 31, 2023. "Overall, I am pleased with our significant accom ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months ( ...

Customer and Service Provider Network - As of June 30, 2023, the company has 58 Customer Partners and over 66,000 participating Service Provider vehicle drivers in its network[108]. Financial Performance - Total revenue for Q2 2023 increased by $0.6 million, or 1%, to $44.0 million compared to $43.3 million in Q2 2022, driven by higher rates charged to existing Customer Partners[143]. - Net loss for Q2 2023 was $6.4 million, compared to a net loss of $18.5 million in Q2 2022, indicating improved financial performance[142]. - Total revenue for the six months ended June 30, 2023, increased by $10.1 million, or 12%, to $93.6 million from $83.5 million in the same period of 2022, driven by increased dispatch volume and rates[159]. - Gross profit for Q2 2023 was $9.3 million, a 184% increase from $3.3 million in Q2 2022, attributed to rate increases and reduced first call costs[147]. - Gross profit increased to $18.5 million for the six months ended June 30, 2023, compared to $5.7 million in the same period of 2022, representing a growth of 225%[161]. Operating Expenses - Non-GAAP operating expenses for the three months ended June 30, 2023, were $13.4 million, down from $17.8 million in 2022, reflecting a focus on cost management[128]. - Cost of revenue decreased by $5.4 million, or 13%, to $34.7 million in Q2 2023 from $40.1 million in Q2 2022, primarily due to a decline in dispatch volume[146]. - Research and development expenses decreased by $0.8 million, or 17%, to $3.7 million in Q2 2023 from $4.4 million in Q2 2022, reflecting a reduction in employee-related expenses[148]. - Sales and marketing expenses decreased by $0.6 million, or 39%, to $0.9 million in Q2 2023 from $1.4 million in Q2 2022, driven by lower employee-related costs and reduced marketing activities[150]. - Operations and support expenses decreased by $3.6 million, or 37%, to $6.0 million in Q2 2023 from $9.7 million in Q2 2022, due to migration of customer support resources and reduced employee costs[152]. - General and administrative expenses increased by $1.3 million, or 38%, to $4.8 million in Q2 2023 from $3.5 million in Q2 2022, primarily due to transaction-related expenses associated with a planned merger[155]. - Cost of revenue decreased by $2.8 million, or 4%, to $75.0 million for the six months ended June 30, 2023, from $77.8 million in the same period of 2022[160]. - Research and development expenses decreased by $1.0 million, or 12%, to $7.4 million for the six months ended June 30, 2023, from $8.4 million in the same period of 2022[162]. - Sales and marketing expenses decreased by $0.9 million, or 32%, to $1.9 million for the six months ended June 30, 2023, from $2.8 million in the same period of 2022[164]. - Operations and support expenses decreased by $5.7 million, or 30%, to $13.2 million for the six months ended June 30, 2023, from $18.9 million in the same period of 2022[166]. - General and administrative expenses increased by $4.9 million, or 66%, to $12.2 million for the six months ended June 30, 2023, from $7.4 million in the same period of 2022[168]. Cash Flow and Debt - As of June 30, 2023, the company had $13.0 million in cash, cash equivalents, and restricted cash, with a total debt balance of $123.1 million[175]. - Net cash used in operating activities for the six months ended June 30, 2023, was $8.8 million, compared to $24.6 million in the same period of 2022[182]. - Net cash provided by financing activities for the six months ended June 30, 2023, was $14.4 million, primarily due to proceeds from the 2023 Notes and the Structural Loan Agreement[185]. Merger and Strategic Initiatives - The pending merger with Otonomo is expected to close on October 19, 2023, with Otonomo's shareholders owning approximately 39.7% of the combined company[112]. - The company anticipates that the merger will enhance customer service experience by improving data capabilities and features[109]. - The company is focused on investing in proprietary technology and machine learning to optimize service provider supply models and operational processes[118]. - The company expects operating expenses to decrease in the short term but increase over the long term as targeted investments in growth continue[118]. Customer Satisfaction and Market Trends - Consumer satisfaction score (CSAT) remained stable at 4.5 for both the three and six months ended June 30, 2023[122]. - The company has historically generated higher levels of roadside assistance service requests during summer and winter months due to increased consumer travel[119]. Foreign Currency Transactions - The volatility of exchange rates is influenced by various unpredictable factors, impacting the company's foreign currency transactions[196]. - The company has not engaged in hedging foreign currency transactions to date, but may consider it in the future[196]. - A hypothetical 10% change in the relative value of the U.S. dollar to other currencies would not have materially affected the company's financial statements[197]. Going Concern - The company has substantial doubt about its ability to continue as a going concern due to recurring losses and negative cash flows from operations[172].