Welcome to our dedicated page for Urgent.ly news (Ticker: ULY), a resource for investors and traders seeking the latest updates and insights on Urgent.ly stock.
Urgent.ly Inc. operated as a digital roadside and mobility assistance technology company, providing software-enabled services for automotive, insurance, telematics and other transportation-focused partners. Its platform used location-based services, real-time data, AI and machine-to-machine communication to support connected roadside assistance and dispatch workflows.
Recurring developments for ULY included quarterly financial results, customer and mobility partnerships, technology-enabled roadside assistance programs, capital-structure and listing updates, and transaction-related announcements. The company’s public-company history also includes its completed acquisition by Agero and related delisting developments.
Urgently (Nasdaq: ULY) has appointed Alex Zyngier to its Board of Directors, effective January 23, 2025. Zyngier, the Founder and Managing Director of Batuta Capital Advisors, brings over 30 years of investment, strategy, governance, and operating experience to the company.
Currently serving as Chairman of the Board for COFINA and EVO Transportation, Zyngier also holds director positions at various companies including Atari SA, Nu Ride, SlamCorp, and Unifin Financiera. His experience spans roles at prominent firms including Alden Global/Smith Management, Goldman Sachs, Deutsche Bank, McKinsey & Co., and Procter & Gamble.
The appointment comes as Urgently continues to show progress in margin expansion through financial and operational improvements, along with significant contract renewals, expansions, and new customer wins in the digital roadside assistance sector.
Urgently (Nasdaq: ULY), a digital roadside and mobility assistance technology provider, has secured short-term extensions for its term loan agreements. The company reached an agreement with first lien lenders for a $3 million partial prepayment and extended the maturity date to February 1, 2025. The second lien term loans have been extended to March 3, 2025. CFO Tim Huffmyer stated that these extensions align with the company's debt reduction and capital structure improvement goals, while discussions continue for longer-term extensions and potential refinancing options.
Urgently (Nasdaq:ULY), a leading U.S. digital roadside and mobility assistance technology provider, has announced its participation in the upcoming Virtual Investor Summit Microcap Forum on November 21, 2024. The company's management will deliver a presentation from 3:00 PM to 3:30 PM ET and will be available for one-on-one meetings throughout the day.
The event will showcase 40 micro-cap companies with catalysts and strong market performance, featuring live Q&A sessions. The presentation will be accessible via webcast, and qualified investors can register for complimentary attendance.
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.