Urgent.ly Inc. reported a decrease in revenue for the fiscal year ending December 31, 2025, totaling $129.2 million, down 10% from $142.9 million in 2024. This decline was primarily attributed to the non-renewal of contracts with key Customer Partners, including a top five global OEM, which accounted for a significant portion of the revenue loss. The company also experienced a reduction in dispatch volumes and revenue from its subsidiary, Otonomo, following a divestiture. Despite these challenges, Urgent.ly's gross profit increased to $32.8 million, reflecting a gross margin of 25%, up from 22% in the previous year, driven by improved revenue per dispatch and reduced service provider costs.
Operating expenses decreased significantly, totaling $41.6 million in 2025 compared to $58.8 million in 2024. This reduction was largely due to decreased research and development costs, as well as lower sales and marketing expenses. The company reported an operating loss of $8.9 million, an improvement from a loss of $27.2 million in the prior year. Other expenses, including interest and losses related to the divestiture, also decreased, contributing to a net loss of $20.4 million, compared to a net loss of $44.0 million in 2024.
Urgent.ly's operational metrics showed a customer satisfaction score (CSAT) of 4.6 out of 5, indicating strong performance in service delivery. The company maintained a network of approximately 58 Customer Partners and over 74,300 Service Provider vehicle drivers as of December 31, 2025. However, the company faces ongoing challenges, including a reliance on a limited number of Customer Partners for revenue and the need to attract new partners to sustain growth.
Looking ahead, Urgent.ly has entered into a merger agreement with Agero, Inc., which is expected to be completed in the first half of 2026. This merger aims to enhance the company's market position and operational capabilities. However, the company has expressed concerns regarding its ability to continue as a going concern, given its history of operating losses and reliance on external financing. As of December 31, 2025, Urgent.ly had $5.3 million in liquid assets and a total debt of $64.4 million, with significant obligations due in the near term.
In summary, while Urgent.ly has made strides in improving its gross profit and reducing operating expenses, the company continues to navigate significant challenges, including revenue concentration risks and the need for strategic growth through partnerships and potential mergers. The upcoming merger with Agero may provide a pathway for enhanced operational stability and market expansion, but uncertainties regarding financial sustainability remain a critical concern.
About Urgent.ly Inc.
Urgently Inc. operates a connected mobility assistance platform that matches vehicle owners with service professionals for roadside help, maintenance, and repair. Serving OEMs, insurers, fleet operators, and consumers, it leverages AI, real-time data, and digital tools to optimize service delivery, enhance transparency, and improve customer experience. The company focuses on scalable, data-driven solutions to address evolving automotive and mobility industry needs.
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