Urgently Announces Fourth Quarter and Full-Year 2024 Financial Results

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$7.1 million, down 30% from the previous year [6][17] - Full-year 2024 revenue totaled $142.9 million, a decrease of 23$31.6 million, down 17% [6][17] - GAAP operating expenses for Q4 were $11.7 million, a significant improvement of 65$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$23.8 million in the prior year [6][17] - Non-GAAP operating loss for Q4 was $3.0 million, down 62$7.9 million year-over-year [6][19] - Full-year GAAP operating loss was $27.2 million, improved by 41$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]