Urgent.ly Inc. reported its financial results for the second quarter of 2025, revealing a revenue decline of 8% to $31.7 million compared to $34.5 million in the same period last year. For the first half of 2025, total revenue decreased by 16% to $63.0 million from $74.6 million in the prior year. The company attributed this decline primarily to the early termination of a contract with a major customer, which resulted in a significant revenue drop, alongside reduced dispatch volumes from existing partners. Despite the revenue decrease, gross profit for the second quarter increased to $7.9 million, up from $7.3 million, driven by improved unit economics per dispatch.
Operating expenses for the second quarter fell to $10.1 million from $15.7 million a year earlier, reflecting cost-cutting measures and operational efficiencies. Notably, research and development expenses decreased by 56% to $1.7 million, while sales and marketing costs dropped by 57% to $0.7 million. The company reported an operating loss of $2.2 million for the quarter, a significant improvement from the $8.3 million loss in the same quarter of 2024. The net loss attributable to common stockholders was $5.6 million, compared to $11.7 million in the prior year.
Urgent.ly's operational metrics showed a decrease in the number of completed service requests, with approximately 191,000 dispatches in the second quarter of 2025, down from 205,000 in the same period last year. The company maintained a customer base of 55 partners and over 74,000 service provider vehicle drivers as of June 30, 2025. The company continues to focus on enhancing its platform capabilities and expanding its service offerings, which it believes will drive future growth.
The company’s liquidity position remains a concern, with cash and cash equivalents totaling $4.8 million as of June 30, 2025, down from $14.1 million at the end of 2024. Urgent.ly has a principal debt balance of $55.3 million, with significant obligations due in the near term. The company has indicated that it may need to seek additional capital to support its operations and growth initiatives, given its history of operating losses and reliance on debt financing.
Looking ahead, Urgent.ly plans to continue investing in technology and operational improvements to enhance its service delivery and customer satisfaction. The company is also exploring strategic opportunities to expand its market presence and improve its financial performance. However, it cautions that its ability to achieve these goals is subject to various risks, including market conditions and the competitive landscape in the mobility assistance industry.
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.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.