Overview
Urgent.ly Q3 revenue beats analyst expectations despite 9% yr/yr decline
Company reports non-GAAP operating income for Q3 compared to loss last year
Urgent.ly Q3 gross margin expands to 25% from 21% yr/yr
Outlook
Company did not provide specific guidance for future quarters
Result Drivers
OPERATING EXPENSES - Co reduced GAAP operating expenses by 28% and non-GAAP by 25% yr/yr, aiding in GAAP operating loss reduction
GROSS MARGIN IMPROVEMENT - Gross margin expanded to 25% from 21% yr/yr, contributing to improved profitability
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$32.94 mln
$32.30 mln (2 Analysts)
Q3 Adjusted Operating Income
$100,000
Q3 Operating Income
-$1.80 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 $11.50, about 78.9% above its November 11 closing price of $2.43
Press Release: ID:nGNX98Gg95
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(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.)
