Urgent.ly Inc. - ULY STOCK NEWS

Urgently (ULY) reported Q3 2024 financial results with revenue of $36.2 million, down 21% year-over-year. Gross profit decreased 15% to $7.8 million, while gross margin improved to 21% from 20%. The company completed 219,000 dispatches and maintained a 4.5/5 consumer satisfaction score. GAAP operating loss was $5.9 million, while non-GAAP operating loss improved 17% to $2.9 million. The company reduced principal debt by $17.5 million to $54.3 million and announced plans to divest The Floow as part of its strategy to focus on core business.

Urgently (Nasdaq: ULY), a leading digital roadside and mobility assistance technology provider, has scheduled its Q3 2024 earnings release for November 12, 2024, at 5:00 p.m. ET. The company will discuss financial results for the quarter ended September 30, 2024, via conference call and webcast. Additionally, CEO Matt Booth and CFO Tim Huffmyer will participate in two upcoming investor conferences: the Sidoti Micro-Cap Virtual Investor Conference (November 13-14) and the Micro-Cap Investor Summit Virtual Conference (November 21).

Urgent.ly, Inc. (Nasdaq: ULY), a leading U.S.-based provider of digital roadside and mobility assistance technology, has announced a two-year contract renewal with one of the largest worldwide vehicle rental companies. This renewal extends their relationship, which began in 2022, to 2026. The renewal was driven by Urgently's customer experience benefits and electronic vehicle expertise.

Urgently has successfully retained all customer partner contracts since the beginning of Q2 2024, demonstrating their commitment to delivering customer value through exceptional service, cutting-edge technology, and prioritization of safety. The company's connected assistance platform will continue to power the vehicle rental company's roadside assistance program, providing support for electric vehicles (EVs) as well.

Urgently, a leading digital roadside and mobility assistance technology provider, has won the 'Overall Transportation Tech of the Year' award in the 2024 AutoTech Breakthrough Awards. The company was recognized for its next-generation yield-based pricing technology, introduced earlier this year.

This AI-driven dynamic pricing technology helps predict and optimize job prices for roadside assistance services, leading to improved customer experiences. It allows Urgently to better manage demand surges, similar to ride-hail services' surge pricing. The technology empowers Urgently's partners to build roadside assistance programs that:

• Maximize performance while maintaining stable costs
• Balance performance and cost by market
• Increase performance by market or job attribute

Matt Booth, CEO of Urgently, attributed the award to the company's data and engineering teams, highlighting their continuous efforts to advance the roadside experience through technology.

Urgent.ly, Inc. (Nasdaq: ULY) has secured a three-year contract renewal with a global automotive fleet management customer partner, extending their relationship to nine years. The renewal highlights Urgently's success in retaining all roadside assistance contracts up for renewal since Q2 2024. The partnership leverages Urgently's comprehensive technology stack, including:

1. Service capabilities for vehicle classes 1 through 6
2. AI-driven yield-based pricing technology with predictive capabilities
3. Connected assistance platform for efficiency and customer experience

CEO Matt Booth emphasized the renewal's reflection of Urgently's strong technology and service delivery. The company aims to continue providing solutions that meet evolving customer needs and support profitable growth.

Urgently Inc. (Nasdaq: ULY), a leading U.S. provider of digital roadside and mobility assistance technology, has been notified by Nasdaq of non-compliance with the minimum bid price requirement. The company's stock price has been below $1.00 for 30 consecutive business days. Urgently has until March 31, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of ten consecutive business days.

If unsuccessful, Urgently may be eligible for an additional 180-day compliance period, provided it meets other listing standards. The company is considering options to regain compliance, including a potential reverse stock split, but there is no guarantee of success. Failure to comply could result in delisting from Nasdaq, subject to appeal.

Urgent.ly, Inc. (Nasdaq: ULY), a leading provider of digital roadside and mobility assistance technology, has announced the strategic divestiture of its subsidiary, The Floow, a connected insurance technology provider. This move aligns with Urgently's strategy to focus on its core business. The transaction returns 51% ownership to The Floow's management, while Urgently retains a 49% stake and a perpetual royalty-free license for The Floow's technology.

Urgently's CEO, Matt Booth, emphasized that this decision allows the company to operate with a sharper focus on its core roadside and mobility assistance business. The Floow's CEO, Aldo Monteforte, expressed excitement about regaining majority ownership and continuing to serve their clients. The divestiture is expected to position both companies for continued success in their respective fields.

Urgently (Nasdaq: ULY) has renewed and expanded its roadside assistance contract with a global automotive OEM. The agreement extends their partnership to seven years and expands coverage from the U.S. to include Canada. Urgently will continue to power the OEM's warranty and post-warranty roadside assistance programs, providing support for breakdowns and accident-related towing services.

The renewed contract includes the use of Urgently's digital platform for dealer-provided mobile services, featuring real-time mobility assistance. Urgently's technology stack, including dispatching APIs and service provider apps, will be integrated into the OEM's global CRM system and customer-facing products. This renewal strengthens Urgently's position as a preferred roadside and mobility assistance partner in the automotive industry.

Urgently Inc. (Nasdaq: ULY) reported its Q2 2024 financial results, showing a 21% year-over-year decrease in revenue to $34.5 million. The company's gross profit also declined by 21% to $7.3 million, while maintaining a consistent gross margin of 21%. Urgently's GAAP operating loss increased by 36% to $8.3 million, and its non-GAAP operating loss rose by 49% to $6.2 million. Despite these challenges, the company successfully renewed all three major customer partner contracts and secured new partnerships. Year-to-date, Urgently reduced its principal debt by $17.5 million to $54.3 million. The company completed approximately 205,000 dispatches in Q2 and maintained a high consumer satisfaction score of 4.5 out of 5 stars.