Revenue growth remains in a downward trajectory with a 9.1% year-over-year decline in 2025Q3, while gross margins remain range-bound between 21% and 25%, limiting the company's ability to scale profitably.
| Sales/Revenue | 127.93M | 142.91M | 184.65M | 187.59M | 148.51M |
| Revenue Growth % | -17.95% | -22.61% | -1.57% | 26.32% | - |
| Cost of Goods Sold | 96.79M | 111.35M | 146.77M | 167.44M | 140.09M |
| COGS % of Revenue | - | 77.92% | 79.49% | 89.26% | 94.34% |
| Gross Profit | 31.15M | 31.56M | 37.88M | 20.15M | 8.41M |
| Gross Margin % | 24.35% | 22.08% | 20.51% | 10.74% | 5.67% |
| Gross Profit Growth % | - | -16.69% | 88.02% | 139.47% | - |
| Operating Expenses | 42.13M | 58.75M | 83.98M | 73.7M | 58.17M |
| OpEx % of Revenue | - | 41.11% | 45.48% | 39.29% | 39.17% |
| Selling, General & Admin | 19.91M | 27.16M | 41.73M | 19.78M | 17M |
| SG&A % of Revenue | - | 19% | 22.6% | 10.54% | 11.45% |
| Research & Development | 8.26M | 13.93M | 16.91M | 16.73M | 12.25M |
| R&D % of Revenue | - | 9.75% | 9.16% | 8.92% | 8.25% |
| Other Operating Expenses | 4M | 17.66M | 25.34M | 37.19M | 28.92M |
| Operating Income | -10.98M | -27.19M | -46.1M | -53.55M | -49.76M |
| Operating Margin % | -8.59% | -19.03% | -24.97% | -28.55% | -33.51% |
| Operating Income Growth % | - | 41.02% | 13.91% | -7.62% | - |
| EBITDA | -6.54M | -22.36M | -44.44M | -52.58M | -49.52M |
| EBITDA Margin % | -5.11% | -15.65% | -24.07% | -28.03% | -33.34% |
| EBITDA Growth % | 84.29% | 49.69% | 15.47% | -6.19% | - |
| D&A (Non-Cash Add-back) | 4.44M | 4.84M | 1.66M | 972K | 242K |
| EBIT | -10.77M | -28.55M | 119.39M | -64.53M | -52.63M |
| Net Interest Income | -13.1M | -13.19M | -46.29M | -31.45M | -3.71M |
| Interest Income | 129K | 1.04M | 509K | 7K | 5K |
| Interest Expense | 13.22M | 14.23M | 46.8M | 31.45M | 3.71M |
| Other Income/Expense | -12.9M | -15.59M | 118.69M | -42.43M | -6.58M |
| Pretax Income | -23.88M | -42.78M | 72.59M | -95.98M | -56.34M |
| Pretax Margin % | -18.67% | -29.94% | 39.31% | -51.17% | -37.94% |
| Income Tax | 1.12M | 1.25M | -2.14M | 0 | 0 |
| Effective Tax Rate % | -4.7% | -2.91% | -2.95% | 0% | 0% |
| Net Income | -25.01M | -44.03M | 74.73M | -95.98M | -56.34M |
| Net Margin % | -19.55% | -30.81% | 40.47% | -51.17% | -37.94% |
| Net Income Growth % | -127.05% | -158.92% | 177.86% | -70.37% | - |
| Net Income (Continuing) | -25.01M | -44.03M | 74.73M | -95.98M | -56.34M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -21.39 | -39.14 | 5.61 | -7.70 | -4.52 |
| EPS Growth % | -332.62% | -797.68% | 172.86% | -70.35% | - |
| EPS (Basic) | - | -39.14 | 5.61 | -7.70 | -4.52 |
| Diluted Shares Outstanding | 1.17M | 1.12M | 13.31M | 12.46M | 12.46M |
| Basic Shares Outstanding | 1.17M | 1.12M | 13.31M | 12.46M | 12.46M |
| Dividend Payout Ratio | - | - | - | - | - |
Liquidity and contract churn
As reported in recent financial statements, ULY's revenue has experienced a sustained decline, with the most recent quarter showing a 9.1% year-over-year contraction, following a series of double-digit drops that suggest significant erosion in the company's core enterprise partnership volumes and overall market demand.
The consistent negative revenue growth trajectory indicates that the company is struggling to retain key automotive and insurance partners. This trend suggests that the platform's value proposition may be failing to gain traction, potentially due to increased competition or a fundamental shift in how enterprise clients manage their roadside assistance fulfillment.
Based on the provided income statement data, ULY's gross margin has remained largely range-bound between 21% and 25%, indicating that the company has yet to achieve the structural pricing power necessary to decouple its revenue growth from the rising costs of its third-party service provider network.
The inability to expand gross margins beyond the mid-20s suggests that the company's 'asset-light' model is heavily burdened by the variable costs of its fulfillment partners. Investors should monitor whether the company can implement more efficient algorithmic matching to improve these margins, or if they are permanently capped by the competitive nature of the roadside assistance industry.
According to the company's quarterly filings, operating expenses continue to weigh heavily on the bottom line, with operating margins remaining consistently negative, peaking at a -52.8% deficit in late 2023 and failing to show a clear path toward positive operating leverage despite recent cost-cutting efforts.
The persistent gap between gross profit and operating income implies that fixed costs, particularly SG&A, are not scaling efficiently with the current revenue base. This lack of operating leverage suggests that the company's current infrastructure is oversized for its shrinking transactional volume, necessitating further rationalization of the cost structure.
Analysis of the income statement reveals that ULY's net income is frequently impacted by non-operating items and significant volatility, as evidenced by the anomalous positive net income in 2023Q4, which contrasts sharply with the persistent net losses reported in every other observed quarter.
The extreme variance in net income suggests that investors should focus on operating cash flow and EBITDA rather than reported net income, which appears distorted by one-time events or accounting adjustments. The reliance on stock-based compensation, while currently modest, warrants further investigation to determine if it is being used to offset cash-based compensation in a capital-constrained environment.
Based on the reported figures, ULY's cash position of approximately $14M appears insufficient to support its ongoing operational burn rate, raising significant concerns regarding the company's ability to sustain its current business model without resorting to dilutive financing or further aggressive cost reductions.
Short-sellers would likely focus on the company's dwindling cash reserves and the potential for a liquidity crunch if revenue continues to contract. The combination of negative net margins and a thin balance sheet suggests that the company is in a precarious position, where any further operational misstep could lead to a rapid deterioration of shareholder value.
Quick answers to the most common questions about buying ULY stock.
For fiscal year 2024, Urgent.ly Inc. Common Stock (ULY) reported total revenue of $142.9M. This represents a 3.8% decline compared to $148.5M in 2021.
Urgent.ly Inc. Common Stock (ULY) reported a net loss of $44.0M for the fiscal year ending 2024.
Urgent.ly Inc. Common Stock (ULY) reported an operating income of $-27.2M, resulting in an operating profit margin of -19.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Urgent.ly Inc. Common Stock (ULY) generated $31.6M in gross profit for the year, representing a gross profit margin of 22.1%. This demonstrates the company's core pricing power and production efficiency.