Welcome to our dedicated page for HYRE news (Ticker: HYRE), a resource for investors and traders seeking the latest updates and insights on HYRE stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect HYRE's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of HYRE's position in the market.
HyreCar reported a 41% revenue increase for 2021, reaching $35.7 million compared to $25.2 million in 2020. Despite these gains, the company faced a net loss of ($26.0) million, higher than ($15.2) million in the previous year. Key metrics included a 27% rise in rental days to 1,286,000 and an Adjusted EBITDA of ($19.3) million. Operating expenses surged to $37.8 million due to investments in technology and marketing. The company anticipates significant growth in 2022, capitalizing on partnerships and expanding vehicle supply.
HyreCar Inc. (NASDAQ: HYRE) will report its fourth quarter and year-end 2021 financial results on
HyreCar operates a national carsharing marketplace, supporting ridesharing and delivery services, and aims to empower individual vehicle owners and businesses in the Mobility as a Service sector.
HyreCar Inc. (NASDAQ: HYRE) announces key leadership changes as it prepares for growth in 2022, appointing
HyreCar Inc. (NASDAQ: HYRE) has partnered with Spring Free EV to enhance the availability of electric vehicles (EVs) on its carsharing platform. This partnership aims to simplify financing options for rental fleet operators, making it easier for them to expand or upgrade to EVs. With financing options starting at $299 per month, the collaboration seeks to reduce the barriers to EV adoption, promoting eco-friendly transportation solutions. The initiative aligns with both companies' goals to decrease greenhouse gas emissions and make EVs more accessible.
HyreCar Inc. (NASDAQ: HYRE), a prominent player in the carsharing marketplace, announced that CEO Joe Furnari will present a corporate overview at the Q4 Investor Summit Conference on November 16-17, 2021. Furnari's presentation is scheduled for November 17 at 2:45 PM ET. He will also be available for one-on-one meetings during the conference. This event highlights HyreCar's efforts in leading the Mobility as a Service sector through its innovative technology platform.
HyreCar Inc. (Nasdaq: HYRE) reported a 43% year-over-year increase in third-quarter revenue, reaching approximately $9.7 million, compared to $6.8 million in Q3 2020. Despite the revenue growth, the company faced a net loss of $6.1 million, widening from a $1.8 million loss in the same quarter last year. Adjusted EBITDA also increased to $(5.1) million. Operating expenses surged by 93.6% to $9.1 million, reflecting investments in technology and marketing. Cash reserves stood at $18.3 million as of September 30, 2021. Management projects gross margins to reach 40% by the end of 2022.
HyreCar Inc. (NASDAQ: HYRE) has launched a new initiative called HyreForGood, aimed at supporting gig workers by providing free vehicle rentals for 30 days. This initiative follows a UCLA study showing that over half of gig workers had to halt work due to the pandemic. Initially available in Los Angeles, the program will select two drivers each month to use HyreCar vehicles for rideshare or delivery services. Additionally, participants can receive rebates on future rentals to ease costs as they return to work.
HyreCar Inc. (NASDAQ: HYRE) has announced an expanded partnership with AmeriDrive and Cogent Bank to enhance its car supply in key markets. The initiative aims to accelerate the addition of over 50,000 cars to its platform by 2025, focusing on electric vehicles for gig economy drivers. AmeriDrive plans to scale operations into three new markets within four months. This partnership underscores HyreCar's commitment to supporting the gig economy and responding to growing demand for car-sharing solutions.
HyreCar Inc. (NASDAQ: HYRE) is set to announce its third quarter 2021 financial results on November 9, 2021, post-market closing. The announcement will be followed by a conference call at 4:30 p.m. ET, led by CEO Joe Furnari and CFO Serge De Bock, which will also include a Q&A session. HyreCar operates a national carsharing marketplace supporting ridesharing and delivery services, focusing on Mobility as a Service. For participation, interested parties are encouraged to register in advance.
HyreCar Inc. (NASDAQ: HYRE) announced its participation in two upcoming virtual investment conferences. First, on November 18, 2021, management will present at the Ladenburg Thalmann Virtual Technology Expo at 12:00 noon ET. Following this, on December 2, 2021, Joe Furnari will participate in a fireside chat at the Wells Fargo Bricks TMT Conference at 12:40 pm ET. The company continues to establish its footprint in the carsharing marketplace, enhancing its role in the Mobility as a Service (MaaS) sector.
FAQ
What is the market cap of HYRE (HYRE)?
