HyreCar Reports 4Q Results

By Staff Writer April 01, 2020

HyreCar Inc., the carsharing marketplace for ridesharing and food/package delivery services, reported financial results and provided a corporate update for the fourth quarter and year ended Dec. 31, 2019.

Full year 2019 financial highlights include: revenue was $15.9 million, compared to $9.8 million in 2018, an increase of 62 percent; net loss of ($12.4) million and earnings per share of ($0.89), compared to ($11.2) million and ($1.31) in 2018; adjusted loss of ($10.4) million and adjusted earnings per share of ($0.75), also referred to as adjusted net income per share, compared to ($0.83) in 2018.

Fourth quarter 2019 financial highlights include: revenue was $4.8 million, compared to $3.2 million in 2018, an increase of 50 percent; net loss of ($4.9) million and earnings per share of ($0.40), compared to ($2.6) million and ($0.31) in 2018; adjusted loss of ($4.4) million or and adjusted earnings per share of ($0.36), also referred to as adjusted net income per share.

“HyreCar’s fourth-quarter revenues grew to $4.8 million, even as we continued to improve and expand every aspect of our partnerships and platform,” said Joe Furnari, CEO of HyreCar. “Despite uncertain times, we see opportunities to maintain our current business now and expand our business as the country goes back to work.”

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Last modified on Friday, 03 April 2020 12:21

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