Urgently inks partnership to boost North American presence

Published 18/03/2025, 14:14
Urgently inks partnership to boost North American presence

VIENNA, Va. - Urgently, Inc. (NASDAQ: ULY), a prominent player in digital roadside and mobility assistance currently trading at $3.59 per share, has announced a new multi-year partnership with an on-demand towing and roadside assistance provider. According to InvestingPro data, the company faces significant financial challenges with an EBITDA of -$22.75 million in the last twelve months. This collaboration, which commences in March, will see Urgently extend its services across the United States and Canada, providing light duty towing, technology, and related services.

The new partnership leverages Urgently’s connected assistance platform to enhance the customer partner’s offerings, promising a streamlined and improved roadside assistance experience. While the integration of Urgently’s technology stack aims to satisfy the increasing demand for reliable roadside support, the company’s revenue has declined by 22.61% over the last twelve months to $142.91 million. For deeper insights into Urgently’s financial health and growth prospects, InvestingPro subscribers have access to over 10 additional key metrics and analysis tools.

Matt Booth, CEO of Urgently, expressed enthusiasm about the partnership, emphasizing the shared commitment to quality service and the anticipated value for customers. The alliance aims to grow Urgently’s service volume and revenue, while enabling the customer partner to leverage Urgently’s network of trusted service providers.

Urgently’s expansion in North America cements its status as an industry leader dedicated to leveraging technology for exceptional roadside experiences. The company’s digital platform utilizes location-based services, real-time data, AI, and machine-to-machine communication to power solutions for various transportation sectors.

Despite the forward-looking statements in the press release, which involve risks and uncertainties, the partnership is poised to fulfill the demand for connected roadside assistance and deliver high customer satisfaction and loyalty through innovative services. However, InvestingPro analysis reveals concerning metrics, including a debt-to-capital ratio of 0.93 and negative free cash flow yield of -20.71%. Investors seeking comprehensive analysis can access the detailed Pro Research Report, which provides expert insights on Urgently’s financial position and growth potential.

This partnership announcement is based on a press release statement and is not indicative of future performance or achievements, which may differ due to various factors as detailed in Urgently’s SEC filings.

In other recent news, Urgent.ly reported its fourth-quarter 2024 earnings, missing both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -0.65, which was below the expected -0.36, and revenue of $32 million, significantly under the forecasted $55.2 million. Despite the disappointing results, Urgent.ly improved its gross margin and reduced its operating loss. In response to the earnings report, Needham analysts lowered the price target for Urgent.ly to $1.00 from $1.50, while maintaining a Buy rating. Additionally, Urgent.ly announced a reverse stock split at a 1-for-12 ratio to comply with Nasdaq’s minimum bid price requirement. The reverse split will reduce the total authorized shares of common stock from 1 billion to 500 million. Looking ahead, Urgent.ly has provided revenue guidance of $30-33 million for the first quarter of 2025, with a focus on achieving non-GAAP operating breakeven by mid-2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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