Overview

* Urgent.ly ( ULY ) 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 ( ULY ) 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/Mis Actual Consensu

s s

Estimate

Q3 Beat $32.94 $32.30

Revenue mln mln (2

Analysts

)

Q3 $100,000

Adjusted

Operatin

g Income

Q3 -$1.80

Operatin mln

g Income

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 ( ULY ) is $11.50, about 78.9% above its November 11 closing price of $2.43

Press Release:

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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.)