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Getaround Inc. - GETR STOCK NEWS

Welcome to our dedicated news page for Getaround (Ticker: GETR), a resource for investors and traders seeking the latest updates and insights on Getaround.

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 Getaround'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 Getaround's position in the market.

News
Getaround Reports Full Year 2023 Results
Rhea-AI Summary
Getaround (GETR) announces new leadership appointments and financial results for 2023, focusing on profitability and strategic growth. The company aims to stabilize operations, reduce losses, and expand thoughtfully. Despite challenges in the market, Getaround restructured operations, acquired HyreCar assets, and launched AI-based TrustScore model. However, the decision to suspend operations in New York due to high insurance costs poses a setback.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.17%
Tags
earnings
-
News
Getaround Announces Promotion of AJ Lee as COO
Rhea-AI Summary
Getaround appoints AJ Lee as Chief Operating Officer to drive growth and profitability. Lee brings extensive executive experience to lead operations, marketing, and sales functions, aiming to enhance operational excellence and accelerate the company's path to sustainable profitability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.93%
Tags
management
-
News
Getaround Announces Inducement Awards to New CEO, Eduardo Iniguez, in Accordance with NYSE Rule 303A.08
Rhea-AI Summary
Getaround (GETR) grants new CEO employment inducement awards, including options to purchase up to 88,050,000 shares at $0.25 per share, subject to vesting conditions. The awards were granted outside the 2022 Equity Incentive Plan, approved by the Board of Directors under a shareholder approval exception.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.26%
Tags
management
News
Getaround Announces Leadership Transition in Continued Drive for Global Growth and Profitability
Rhea-AI Summary
Getaround appoints Eduardo Iniguez as CEO and Jason Mudrick as Chair of the Board, focusing on business growth and profitability. Iniguez brings extensive experience in finance and leadership to drive value for shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.95%
Tags
management
-
News
Getaround Announces Restructuring Plan to Accelerate the Path to Profitability
Rhea-AI Summary
Getaround (GETR) announced a workforce and operations restructuring plan to reduce costs and align with the globalization of its carsharing business. The plan includes a 30% reduction in the North American staff, with anticipated cost savings of approximately $7 million on an annualized run-rate basis. The Company expects to incur up to $1 million in restructuring costs. Getaround CEO, Sam Zaid, emphasized the focus on profitability and sustainable business growth, highlighting progress in revenue growth, unit economics, and overall adjusted EBITDA profile. The company also introduced new AI models and a global app, expanding to gig carsharing. Despite the positive outlook, the CEO acknowledged the difficulty of the decision and expressed gratitude to the team.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.17%
Tags
none
-
News
Getaround Secures $20 Million in Financing, Following Strong Q3 2023 Results
Rhea-AI Summary
Getaround (GETR) secures $20 million in additional capital through a new debt facility with Mudrick Capital Management, with strong Q3 2023 financial results and a new unified global app and website launch. The financing follows a 42% year-over-year revenue growth and a 52% trip contribution margin increase. Mudrick's funding demonstrates confidence in the company's growth potential, leading to Jason Mudrick joining Getaround's Board of Directors. Concurrently, Ahmed Fattouh, CEO of InterPrivate, has stepped down from the board. The new app and website upgrade enhances the booking and management experience for guests and hosts, enabling seamless trip coordination between the US and Europe.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
76.09%
Tags
earnings
News
Getaround Reports Strong 3Q 2023 Results with 42% Year-Over-Year Growth in Revenue
Rhea-AI Summary
Getaround (GETR) reported total revenues of $23.8 million, a 42% increase year-over-year, with a gross booking volume of $69 million and a GAAP net loss of $27.3 million. Adjusted EBITDA loss was $11.3 million, reflecting a 43% improvement from the same period last year. The company's gross margin from service revenue remained at 87%, and the trip contribution margin increased to 52%, up 640 basis points year-over-year. Getaround announced a restructuring plan, acquired HyreCar assets, launched TrustScore A.I., and formed a strategic alliance with TransUnion. The company expects a gross booking value of $200 million to $205 million and an adjusted EBITDA loss of $68 million to $70 million for the full year 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
84.85%
Tags
earnings
-
News
Getaround Sets Date for Third Quarter 2023 Earnings Release and Conference Call
Rhea-AI Summary
Getaround, Inc. (NYSE: GETR) plans to discuss its third quarter 2023 results and business outlook in a conference call on December 14, 2023. The press release will be issued after the market closes on the same day and can be viewed on Getaround’s website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
-
News
Getaround and TransUnion to Bring TruVision Credit Insurance Auto Score to Carsharing Marketplace
Rhea-AI Summary
Getaround announces alliance with TransUnion to integrate insurance scoring data into TrustScore
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.91%
Tags
none
News
Millennial & Gen Z New Yorkers Surveyed and Share Wacky Things They Would Rather Do Than Stand in Line at the Rental Car Counter
Rhea-AI Summary
Carsharing leader Getaround, in collaboration with YouGov, conducted a survey to uncover the frustrations New Yorkers have with waiting at the rental car counter during the summer travel season. The survey revealed that a significant number of Millennial and Gen Z New Yorkers would prefer to do other activities rather than wait in line. Additionally, the survey found that most Millennial and Gen Z New Yorkers would take advantage of easy access to a car for various purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.85%
Tags
none
Stock GETR logo
Getaround Inc.

NYSE:GETR

GETR Rankings

#5175 Ranked by Market Cap
#5534 Ranked by Stock Gains
N/A Ranked by Dividends

GETR Stock Data

21.99M
55.82M
14.52%
33.76%
0.23%
General Freight Trucking, Local
Transportation and Warehousing
Link
United States
San Francisco

About GETR

getaround is an on-demand carsharing marketplace powered by our proprietary hardware technology, the getaround connect. headquartered in san francisco since 2009, we won techcrunch disrupt in 2011, and launched on-demand carsharing just two years later. getaround has grown to over 200,000 members across the us by allowing users to rent, unlock and drive — all with your phone. rates start at $5/hour including insurance and no membership fees. car owners conveniently share their cars earning $500-$1000 a month. download the getaround app at get.co/mobile and check out what the wall street journal said about our latest funding round at http://get.co/wsj. why work at getaround ride by ride, we’re changing the way our world works. we imagine a world where cities feel small again. where transportation and tech bring people together, instead of apart. we see the future as community-driven — and it starts with you. vacation/benefits/perks getaround offers great medical, dental, and