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HyreCar Inc. (NASDAQ: HYRE) reported Q1 2021 financial results, showing a 29% rise in revenue to $7.45 million from $5.78 million year-over-year. However, net loss increased to ($7.2 million), or ($0.37 per share), compared to ($4.1 million), or ($0.25 per share), in Q1 2020. Adjusted EBITDA was ($3.4 million). Notably, new drivers were up 14%, with rental days increasing by 31% to approximately 300,000.
HyreCar Inc. (NASDAQ: HYRE) will announce its financial results for Q1 2021 on May 13, 2021, after market close. A live earnings conference call will follow at 1:30 p.m. PDT, allowing participants to dial in via specific domestic and international numbers. This event emphasizes HyreCar's role as a leading carsharing marketplace, facilitating ridesharing and delivery services through its technology platform. Investors can access the webcast on the company's Investor Relations website, with a replay available for 90 days post-event.
HyreCar Inc. (NASDAQ: HYRE) reported robust financial results for the fourth quarter and full year 2020, with revenue reaching $25.2 million, a significant 59% increase from 2019. The fourth quarter saw $7.0 million in revenue, up 42% year-over-year. However, the company faced a net loss of $15.2 million for the year, expanding from $12.5 million in 2019. Notably, adjusted EBITDA was ($11.0 million). Despite challenges like the COVID-19 pandemic, rental days surged 41% in Q4, indicating growing demand for rideshare services.
HyreCar Inc. (NASDAQ: HYRE) will release its fourth quarter and full-year financial results for 2020 on March 30, 2021, after market close. A live earnings conference call is scheduled for 1:30 p.m. PDT (4:30 p.m. EDT), allowing participation via phone or webcast. The call will provide insights into the company’s performance in the carsharing marketplace serving ridesharing, food, and package delivery. For more details, visit HyreCar’s Investor Relations page.
HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace, announced its participation in several upcoming virtual investment conferences. Key events include a fireside chat at the D A Davidson 4th Annual Consumer Growth Virtual Conference on March 11, 2021, and one-on-one institutional meetings at the 33rd Annual Roth Virtual Conference on March 17, 2021. CEO Joe Furnari will engage in discussions at the Maxim Emerging Growth Virtual Conference on March 18, 2021, and the Wells Fargo Speaker Series on March 23, 2021, focusing on HyreCar's role in the rideshare industry.
HyreCar Inc. (NASDAQ: HYRE) announces new leadership positions to enhance growth opportunities. Brian Allan is appointed President, having previously served as Senior Vice-President of Strategic Partnerships, significantly increasing vehicle supply and revenue. Ken Grimes becomes Chief Technology Officer, contributing his expertise in tech modernization. Megan Behrens is named Senior Vice-President of Product & Operations, focusing on customer retention. The company raised $29.7 million through a public offering to enhance scalability and services. These appointments will drive HyreCar's growth and revenue.
HyreCar Inc. (NASDAQ: HYRE) completed a public offering on February 9, 2021, selling 2.53 million shares at $11.75 each, raising gross proceeds of approximately $29.7 million. The offering included the underwriters' option to buy an additional 330,000 shares. Proceeds will support working capital and corporate needs, particularly in sales, marketing, and technology investments for platform expansion. Lake Street Capital Markets and Northland Securities served as joint book-running managers.
TrueCar and HyreCar announced a partnership on February 10, 2021, to launch the HyreCar Auto Buying Program, enhancing vehicle purchasing options for drivers in the mobility sector. The agreement leverages TrueCar's dealer network and innovative tools to assist customers in buying, selling, or trading vehicles. This partnership aims to support HyreCar's Earn to Own™ program and potentially include OEM offers and dedicated financing solutions. The initiative is expected to create new opportunities for both companies within the growing Mobility-as-a-Service (MaaS) market.
HyreCar Inc. (NASDAQ: HYRE) has announced a public offering of 2,200,000 shares at $11.75 each, aiming to raise approximately $25.85 million in gross proceeds. The underwriters have a 30-day option to buy an additional 330,000 shares. The offering is expected to close around February 8, 2021. Proceeds will be used for working capital, sales and marketing, and technology investments to expand its platform. Lake Street Capital Markets and Northland Securities are the joint book-running managers for the offering.
HyreCar Inc. (NASDAQ: HYRE) announced a proposed underwritten public offering of common stock, expected to support its working capital and enhance sales and technology investments. The offering includes a 30-day option for underwriters to cover over-allotments. The securities are to be registered with the Securities and Exchange Commission, effective May 7, 2020. Joint book-running managers for the offering are Lake Street Capital Markets and Northland Securities. The company emphasizes that completion is subject to market conditions.
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