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Ben Volkow, a director at Urgent.ly Inc. (NASDAQ:ULY), recently sold 2,256 shares of the company’s common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $3.3367, amounting to a total transaction value of $7,527. This sale was conducted under a Rule 10b5-1 trading plan that Volkow adopted in November 2023. The transaction comes as InvestingPro data shows ULY’s stock has experienced significant volatility, with the price declining about 85% over the past year. The company currently maintains a market capitalization of just $4.15 million and faces challenges with cash burn and debt management, according to InvestingPro’s financial health assessment.
Following the transaction, Volkow retains ownership of 26,025 shares. It’s important to note that these figures reflect adjustments due to a 1-for-12 reverse stock split that Urgent.ly implemented on March 17, 2025. For deeper insights into ULY’s valuation and financial metrics, including 12 additional ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, Urgently Inc. reported its fourth-quarter 2024 financial results, which showed a significant miss on both earnings per share and revenue forecasts. The company posted an EPS of -0.65, below the expected -0.36, and revenue of $32 million, which fell short of the anticipated $55.2 million. Additionally, Urgently announced a reverse stock split at a 1-for-12 ratio to comply with Nasdaq’s minimum bid price requirement, which will take effect in March 2025. In another development, Urgently has entered into a new multi-year partnership with an on-demand towing and roadside assistance provider to expand its services across the United States and Canada. Needham analysts have adjusted the price target for Urgently to $1.00 from $1.50, citing a leveling off in the company’s growth trajectory and reaffirmed a Buy rating. Despite the challenges, Urgently has expressed confidence in its ability to renew contracts and attract new customers. The company aims to reach non-GAAP operating breakeven by mid-2025, focusing on operational efficiencies and market expansion. Urgently’s recent financial performance and strategic moves are critical for investors to monitor as the company navigates its path forward.
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