Urgent.ly (ULY) - 2025 Q3 - Quarterly Results

Revenue Performance - Revenue for Q3 2025 was $32.9 million, a decrease of 9% year-over-year[6] - Year-to-date revenue was $95.9 million, a decrease of 14% year-over-year[6] Profitability Metrics - Gross profit increased by 4% to $8.1 million, with a gross margin of 25%, up from 21% in the prior year[6] - Non-GAAP operating income was $0.1 million, an improvement of 104% from a non-GAAP loss of $2.9 million in the prior year[6] - The operating loss for Q3 2025 was $1,769,000, an improvement from an operating loss of $5,891,000 in Q3 2024[18] - The company reported a total operating loss of $6,369,000 for the nine months ended September 30, 2025, compared to $22,579,000 in the same period of 2024[18] Operating Expenses - GAAP operating expenses decreased by 28% to $9.9 million, compared to $13.7 million in the prior year[6] - Non-GAAP operating expenses improved by 25% to $8.0 million, down from $10.7 million in the prior year[6] - Total operating expenses for the nine months ended September 30, 2025, were $30,402,000, down from $47,025,000 in the same period of 2024, reflecting a reduction of 35.2%[17] - Non-GAAP operating expenses for the nine months ended September 30, 2025, were $24,483,000, down from $38,660,000 in the same period of 2024, reflecting a reduction of 36.7%[17] Asset Management - Total assets decreased to $42.8 million from $54.1 million at the end of 2024[15] Customer Engagement - Approximately 194,000 dispatches were completed in Q3 2025, maintaining a consumer satisfaction score of 4.6 out of 5 stars[6] - The company continues to focus on expanding relationships with existing customer partners and developing new customer opportunities[3] Expense Breakdown - Depreciation and amortization expenses for Q3 2025 were $1,204,000, slightly up from $1,130,000 in Q3 2024[18] - Stock-based compensation expenses for the nine months ended September 30, 2025, were $1,213,000, down from $1,765,000 in the same period of 2024[17] - Non-recurring transaction costs for Q3 2025 were $419,000, compared to $638,000 in Q3 2024, indicating a decrease of 34.4%[18] - Restructuring costs for Q3 2025 were minimal at $24,000, a significant improvement from $569,000 in Q3 2024[18]