Urgent.ly Inc
NASDAQ:ULY
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Urgent.ly Inc
Urgent.ly Inc is a US-based company operating in Software industry. The company is headquartered in Vienna, Virginia and currently employs 225 full-time employees. The company went IPO on 2020-10-05. Urgent.ly Inc. is engaged in providing connected mobility assistance software platform. The platform matches vehicle owners and operators with service professionals who deliver traditional roadside assistance, proactive maintenance, and repair services. The firm operates through one segment: Mobility Assistance Services. The Mobility Assistance Services segment includes all products, services and software. The firm serves to the industries, such as insurance, automotive, and fleets and rental. The firm offers roadside assistance services (RAS) initiated through its software platform primarily in the United States and Canada. The Company’s platform enables its customers (Customer Partners) to outsource delivery for all or portions of their roadside assistance programs. The firm manages the RAS process after receiving the initial distress call or Web-based request through final disposition.
Urgent.ly Inc is a US-based company operating in Software industry. The company is headquartered in Vienna, Virginia and currently employs 225 full-time employees. The company went IPO on 2020-10-05. Urgent.ly Inc. is engaged in providing connected mobility assistance software platform. The platform matches vehicle owners and operators with service professionals who deliver traditional roadside assistance, proactive maintenance, and repair services. The firm operates through one segment: Mobility Assistance Services. The Mobility Assistance Services segment includes all products, services and software. The firm serves to the industries, such as insurance, automotive, and fleets and rental. The firm offers roadside assistance services (RAS) initiated through its software platform primarily in the United States and Canada. The Company’s platform enables its customers (Customer Partners) to outsource delivery for all or portions of their roadside assistance programs. The firm manages the RAS process after receiving the initial distress call or Web-based request through final disposition.
Revenue: Q3 revenue was $32.9 million, in line with expectations and guidance.
Profitability Milestone: Achieved positive non-GAAP operating income for the first time, a key turning point for the company.
Gross Margin: Gross margin improved to 25%, a 4-point increase year-over-year and within the company’s midterm target range.
Cost Reductions: Operating expenses were cut by 28% year-over-year, reflecting substantial operational efficiencies.
NASDAQ Listing: Received an extension from NASDAQ to regain compliance, with focus on recapitalizing the balance sheet.
Guidance: Q4 revenue expected between $30 million and $33 million; company targets continued non-GAAP operating breakeven.
Growth Initiatives: Progress made in insurance, fleet, and EV contracts, including a new agreement with Sony Honda Mobility.
