OAKLAND, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Getaround, Inc. ("Getaround" or the "Company"), a global car-sharing marketplace, announced today that it has plans to commence an orderly wind-down of its U.S. business operations, which includes its car-share and HyreCar businesses. Getaround's European business will continue operating to provide car-sharing services for customers in all current European markets. "This has been an incredibly difficult decision, one that was not made lightly and only after careful consideration of various strategic options," said AJ Lee, Interim CEO and COO. "Despite significant improvements in overall profitability and extensive restructuring efforts, t

OAKLAND, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Getaround (OTCQB:GETR), the world's first connected carsharing marketplace, today announced financial results for the third quarter of 2024 ended September 30, 2024. Third Quarter 2024 Highlights Total revenue of $22.4 million versus $23.8 million in the prior-year periodGross Booking Value of $65.1 million compared to $53.0 million as of June 30, 2024Gross Margin from Service Revenue expanded to 90%, an increase of 300 basis points year-over-yearTrip Contribution Margin decreased to 48%, a decrease of 400 basis points year-over-yearGAAP net loss of $15.5 million compared to $27.3 million a year agoAdjusted EBITDA loss of $9.3 million ve

Getaround (OTCQB:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, is pleased to announce that the quotation of its common stock and public warrants, under the symbols "GETR" and "GETRW", respectively, has been upgraded from the OTC Pink Market to the OTCQB® Venture Market (the "OTCQB"), effective September 4, 2024. OTCQB is a trading platform in the US operated by the OTC Markets Group. To be eligible for trading on the OTCQB, companies must be current in their financial reporting with the Securities and Exchange Commission (the "SEC"), pass a minimum bid price test, maintain audited financials through a PCAOB registered firm, and undergo an annua

Certification recognizes Company's commitment to information security and unlocks opportunities to expand strategic partnerships Getaround (OTC:GETR), the world's leading connected carsharing platform, is proud to announce it has achieved ISO 27001 certification. This certification underscores Getaround's commitment to maintaining the highest standards of information security and data protection for our users and partners. ISO 27001 is the international standard for information security management systems (ISMS). Achieving this certification validates Getaround's robust framework of policies, procedures, and controls to manage and protect sensitive information effectively. "Securing I

Under new leadership team, Company raised capital, reduced expenses, and accelerated path to profitability GAAP net loss of $12.0 million, vs. a net loss of $30.3 million a year ago Adjusted EBITDA loss improved 49% to $11.4 million from $22.4 million loss vs. same period 2023 Getaround (OTC:GETR), the world's first connected carsharing marketplace, today announced financial results for the second quarter of 2024 ended June 30, 2024. "During the first half of 2024 we aggressively capitalized on opportunities to increase efficiency and right-size expenses," said Eduardo Iniguez, CEO of Getaround. "I am pleased to share that our second quarter 2024 results are starting to reflect

Getaround (OTC:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced it will release its financial results for the second quarter ended June 30, 2024 after U.S. markets close on Monday, August 12, 2024. Company management will host a conference call and webcast at 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results and provide a corporate update. A live webcast and replay can be accessed from the investor relations page of Getaround's website at Getaround | Investor Relations. Individuals interested in listening to the conference call may do so by dialing 1-844-826-3033 or 1-412-317-5185. Investors and analysts that wish to s

Huerta brings more than 25 years of experience in finance and public accounting Company receives $20 million in additional funding from Mudrick Capital Getaround (OTC:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced the transition from Tom Aldermen as Chief Financial Officer to Patricia Huerta, CPA, as Interim Chief Financial Officer, effective July 19, 2024. Getaround is grateful for Mr. Alderman's service and contributions to the company. Huerta , who serves as Getaround's Chief Accounting Officer, will assume the role of Interim CFO to lead the finance, accounting, compliance and certain other functions and will report to Ge

Getaround's common stock is expected to continue to trade on the OTC Markets Getaround will continue as a public company and intends to appeal NYSE's decision Delisting does not affect Getaround's business operations or focus Getaround (NYSE:GETR) ("Getaround" or "The Company") today announced it received notice the New York Stock Exchange ("NYSE") suspended trading of its common stock on the NYSE effective immediately and started the process to delist its common stock from the NYSE. The start of the delisting process follows the NYSE's determination under Rule 802.01B of the NYSE Listed Company Manual that the Company did not meet the continued listing standard that requires list

Getaround (NYSE:GETR), the world's first connected carsharing marketplace, today announced it received a written commitment from Mudrick Capital Management L.P. ("Mudrick Capital") to provide $20 million in additional capital on or prior to July 26, 2024, pursuant to the company's existing debt facility with Mudrick Capital. Getaround also received written notice from Mudrick Capital of its intention to convert a minimum of $10 million worth of its outstanding 8.00%/9.50% Convertible Senior Secured PIK Toggle Notes due 2027 at an as-adjusted conversion price of $0.25 per share, within 45 days after the Company's 2024 Annual Stockholder Meeting scheduled to take place on July 31, 2024. The a

Dan Ives, Wedbush Senior Equity Research Analyst, to host Eduardo Iniguez, Getaround Chief Executive Officer Getaround (NYSE:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced that Eduardo Iniguez, Getaround Chief Executive Officer will deliver a presentation and join a fireside chat interview at the following virtual event: 2024 Wedbush Disruptive Transportation Conference Date: Thursday, May 16th, 2024 Presentation Time: 8:30 a.m. - 9:00 a.m. Pacific Time The presentation can be viewed live by registering via the following link: Getaround / Wedbush Conference Registration An archived replay of the presentation will be availab

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Huerta brings more than 25 years of experience in finance and public accounting Company receives $20 million in additional funding from Mudrick Capital Getaround (OTC:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced the transition from Tom Aldermen as Chief Financial Officer to Patricia Huerta, CPA, as Interim Chief Financial Officer, effective July 19, 2024. Getaround is grateful for Mr. Alderman's service and contributions to the company. Huerta , who serves as Getaround's Chief Accounting Officer, will assume the role of Interim CFO to lead the finance, accounting, compliance and certain other functions and will report to Ge

Nikul Patel, Neil Savage and Qais Sharif bring significant expertise in governance, strategy and product development Getaround (NYSE:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced three new additions to its Board of Directors. Nikul Patel, Neil Savage and Qais Sharif effective May 6, 2024. They will join existing directors Jason Mudrick, Bruno Bowden, Ravi Narula, Sam Zaid and Chief Executive Officer Eduardo Iniguez on the Board. All three bring extensive public company senior management experience to Getaround's Board and meet the New York Stock Exchange's independent director standard, strengthening the Company's corporate gove

Total Revenues Up 49% and Gross Booking Value Up 41% Year-Over-Year Leadership Transition, Capital Raise and Operational Streamlining Support Renewed Focus on Achieving Profitable Growth Getaround (NYSE:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced financial results for the first quarter of 2024 ended March 31, 2024. "Since transitioning our leadership earlier this year, we have realigned our business priorities to focus on achieving profitable growth, reduced our cost structure as a percent of total revenue, and raised additional capital to fund operations into 2025," said Eduardo Iniguez, Getaround's Chief Executive Office

New leadership focused on strategic path to profitability supported by recent capital raise and organizational streamlining Getaround (NYSE:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced financial results for the year ended December 31, 2023. Early 2024 Leadership Transition In January 2024, Getaround's Board appointed Jason Mudrick, Chief Investment Officer of Mudrick Capital Management, to the position of Chairperson of the board. This appointment follows Mudrick Capital's agreement to provide $20 million in financing to support the Company's 2024 operating plan. Subsequently, in February 2024 the board appointed Eduardo In

Eduardo Iniguez, former Silvus Technologies' CFO, appointed CEO Jason Mudrick, Mudrick Capital's Founder and CIO, appointed Chair of the Board Getaround (NYSE:GETR) ("Getaround'' or the "Company"), the world's first connected carsharing marketplace, today announced that its Board of Directors has appointed former Silvus Technologies CFO and former Getaround SVP of Finance, Risk & Strategy Eduardo Iniguez as CEO, effective immediately. Iniguez also joined the Getaround Board of Directors. In connection with this change, Jason Mudrick, Founder and Chief Investment Officer of Mudrick Capital, which led Getaround's January 2024 financing, was appointed Chairperson of the Board. Getaround's

Former HyreCar executives to bolster carsharing pioneer's best-in-class leadership team, further strengthens synergies for global carsharing leadership Getaround (NYSE:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced the appointments of Eduardo Iniguez, Senior Vice President of Finance & Strategy, and AJ Lee, Vice President of Gig Marketplace. Iniguez and Lee both join Getaround following the Company's acquisition of HyreCar's assets, the leading U.S. gig carsharing marketplace. Through this acquisition, Getaround expects to accelerate its path to profitability, while unlocking additional earning potential for hosts and enhanced

Former Facebook and Google Executive Joins Carsharing Leader Getaround (NYSE:GETR) ("Getaround" or "the Company"), the world's first connected carsharing marketplace, today announced it has hired Brian Jackson as Senior Vice President of Engineering. Bringing more than 35 years of experience to Getaround, Jackson took up his new role in January of this year. Jackson has held numerous engineering leadership positions throughout his career. Most recently, he served as Bluevine's Head of United States Engineering where he built and led the engineering team in developing initial products to support the company's strategic evolution from lending to banking. Prior to Bluevine, he served in lead

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Under new leadership team, Company raised capital, reduced expenses, and accelerated path to profitability GAAP net loss of $12.0 million, vs. a net loss of $30.3 million a year ago Adjusted EBITDA loss improved 49% to $11.4 million from $22.4 million loss vs. same period 2023 Getaround (OTC:GETR), the world's first connected carsharing marketplace, today announced financial results for the second quarter of 2024 ended June 30, 2024. "During the first half of 2024 we aggressively capitalized on opportunities to increase efficiency and right-size expenses," said Eduardo Iniguez, CEO of Getaround. "I am pleased to share that our second quarter 2024 results are starting to reflect

Getaround (OTC:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced it will release its financial results for the second quarter ended June 30, 2024 after U.S. markets close on Monday, August 12, 2024. Company management will host a conference call and webcast at 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results and provide a corporate update. A live webcast and replay can be accessed from the investor relations page of Getaround's website at Getaround | Investor Relations. Individuals interested in listening to the conference call may do so by dialing 1-844-826-3033 or 1-412-317-5185. Investors and analysts that wish to s

Delivered Total Revenues of $23.8 million, increasing 42% year-over-year, and reflecting an annualized run-rate of over $95 million Gross Booking Volume of $69 million, reflecting an annualized run-rate of $276 million GAAP Net Loss of $27.3 million, a 16% improvement from the same period last year Adjusted EBITDA loss of $11.3 million, a 43% improvement from the same period last year Gross Margin from Service Revenue remained at 87%, up 27 basis points year-over-year Trip Contribution Margin increased to 52%, up 640 basis points year-over-year Getaround (NYSE:GETR), the world's first connected carsharing marketplace, today announced financial results for the period ended

Getaround, Inc. (NYSE:GETR) ("Getaround" or "the Company"), the world's first connected carsharing marketplace, plans to conduct a conference call with analysts to discuss its third quarter 2023 results and business outlook on December 14, 2023 at 5:00 p.m. Eastern time. After the close of the market on December 14 and prior to the conference call, Getaround will issue a copy of its third quarter earnings press release via Business Wire. The press release may also be viewed on Getaround's website at https://investor.getaround.com. To listen to the conference call via the Internet, please visit the Investors page of Getaround's website. To listen to the conference call via telephone, ple

Receives Continued Listing Standard Notice from NYSE Expects to File Notification of Delayed 2022 Form 10-K Getaround, Inc. ("Getaround" or "the Company"), the world's first connected carsharing marketplace, today announced selected preliminary unaudited financial results for its full year ended December 31, 2022 and provided an initial outlook for the full year 2023. Full Year 2022 Preliminary Unaudited Financial Results Based on preliminary unaudited financial and other information, the Company expects to report the following preliminary unaudited condensed combined financial information for the full fiscal year ended December 31, 2022: Total revenues in the range of $59 million to