Overview
Urgent.ly Q2 revenue falls 8% yr/yr but beats analyst expectations, per LSEG data
Non-GAAP operating loss improves 97%, beating analyst expectations
Co launches SPARK AI-powered market analyzer to enhance service performance
Result Drivers
AI AND MACHINE LEARNING - Urgent.ly attributes its operational scale and performance enhancement to its AI and machine learning platform, which utilizes predictive models, per CEO Matt Booth
CONTRACT RENEWALS - Significant contract renewals, expansions, and new customers contributed to results, according to CEO Matt Booth
SPARK LAUNCH - Introduction of SPARK AI-powered market analyzer aimed at improving service performance in key urban markets
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$31.70 mln
$31 mln (2 Analysts)
Q2 EPS
-$4.5
Q2 Adjusted Operating Income
Beat
-$200,000
-$2.10 mln (1 Analyst)
Q2 Operating Income
-$2.20 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Urgent.ly Inc is $13.50, about 62.7% above its August 11 closing price of $5.04
Press Release: ID:nGNX2mSdZq
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)