Ryde Reports First Half 2024 Results, Positions for Accelerate Growth
Ryde Group Ltd. (RYDE)
Company Research
Source: Business Wire
SINGAPORE--(BUSINESS WIRE)--Ryde Group Ltd (NYSE American: RYDE) (“Ryde” or the “Company”), a leading technology platform for mobility and quick commerce headquartered in Singapore, today announced the financial results for the six months ended June 30, 2024 (“1H 2024”).Key Financial Highlights for First Half 2024:Revenue: The Company reported revenue of S$4.4 million (US$3.2 million), down from S$5.2 million (US$3.9 million) in 1H 2023. While the transition to the 0% commission model in January 2024 resulted in a temporary decline in revenue, we are confident that this strategic decision will drive significant long-term growth by attracting more drivers. This revenue structure was introduced to boost driver-partners satisfaction and attract more driver-partners to the platform, positioning the Company for long-term sustainable growth despite the temporary impact on revenue 1H2024.Adjusted EBITDA: The Company saw its adjusted EBITDA improve by 20%, the adjusted EBITDA deficit narr
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- Ryde Celebrates Driver-Partners with Annual #MakanwithRyde Initiative [Yahoo! Finance]Yahoo! Finance
- Ryde Celebrates Driver-Partners with Annual #MakanwithRyde InitiativeBusiness Wire
- Ryde Extends Partnership with Singlife to Implement Work Injury Compensation Protection for Driver-PartnersBusiness Wire
RYDE
Sec Filings
- 11/8/24 - Form 6-K
- 10/23/24 - Form 424B3
- 10/23/24 - Form 6-K
- RYDE's page on the SEC website