Reported Q: Q3 2024 Rev YoY: -17.6% EPS YoY: -51.9% Move: +0.37%
Urgently Inc Common Stock
ULY
$5.38 0.37%
Exchange NASDAQ Sector Technology Industry Software Application
Q3 2024
Published: Nov 13, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for ULY

Reported

Report Date

Nov 13, 2024

Quarter Q3 2024

Revenue

36.25M

YoY: -17.6%

EPS

-0.79

YoY: -51.9%

Market Move

+0.37%

Previous quarter: Q2 2024

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Earnings Highlights

  • Revenue of $36.25M down 17.6% year-over-year
  • EPS of $-0.79 decreased by 51.9% from previous year
  • Gross margin of 21.4%
  • Net income of -10.61M
  • "“As evidenced by the 16% year-over-year improvement in our quarterly non-GAAP operating expenses and 17% year-over-year improvement in our quarterly non-GAAP operating loss.”" - Matt Booth
ULY
Company ULY

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Executive Summary

Urgently Inc reported Q3 2024 revenue of $36.2 million, down 21% year over year, driven primarily by the nonrenewal of a top-five OEM partner. The quarter featured a continued focus on core software-enabled roadside assistance services, as evidenced by renewed contracts and three new partners that management believes will more than offset the wind-down. Non-GAAP operating expenses declined 16% year over year, and non-GAAP operating loss improved 17% YoY, signaling progress toward profitability as the company prioritizes margin expansion, cost discipline, and higher-value customer partnerships. A material one-off event in Q3 was the divestiture of The Flow autonomous business unit, which deconsolidated from Urgently and generated a non-cash book loss of approximately $3.3 million, while preserving a perpetual royalty-free license to integrate Flow capabilities for future opportunities. Management maintains a target of non-GAAP operating breakeven in Q1 2025, supported by cost controls, pricing optimization, and a pivot to a higher-margin B2B incident services model. The balance sheet shows liquidity discipline is being pursued (cash ~$17.4M; debt maturity January 2025) with discussions around a senior secured working capital line of credit to address near-term maturities. Overall, the company remains focused on renewals, expanding existing partner relationships, and winning new business while advancing margin expansion and capital structure optimization.

Key Performance Indicators

Revenue
Decreasing
36.25M
QoQ: 4.95% | YoY: -17.58%
Gross Profit
Decreasing
7.77M
21.42% margin
QoQ: 5.93% | YoY: -16.14%
Operating Income
Increasing
-5.89M
QoQ: 23.57% | YoY: 4.18%
Net Income
Decreasing
-10.61M
QoQ: 9.03% | YoY: -65.31%
EPS
Decreasing
-0.79
QoQ: 9.20% | YoY: -51.92%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 31.27 -4.69 -22.0% View
Q4 2024 32.03 -7.76 -28.9% View
Q3 2024 36.25 -0.79 -17.6% View
Q2 2024 34.54 -0.87 -25.0% View
Q1 2024 40.09 -0.97 -19.1% View