Capitalizing On The Ride-Share Secular Trend, Upside Of 150% [Seeking Alpha]
HyreCar Inc. (HYRE)
Last hyrecar inc. earnings: 3/25 04:10 pm
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Source: Seeking Alpha
Capitalizing On The Ride-Share Secular Trend, Upside Of 150% Summary HyreCar's shares should rise 150% in one year. An attractive model with industry leading take rates. On path towards positive EBITDA and free cash flow. HyreCar's ( HYRE Attractive model addressing a much needed niche service HyreCar allows drivers who want to drive for the ride share services but do not own a qualifying car. Uber (NYSE: UBER Industry leading take rates HyreCar makes money by taking a fee from the owner, which can range from 15%-20% of the rental fee, they take an additional fee from the driver, which is 10% of the rental fee, and they charge an insurance fee to the driver, which is typically $13 per-day. HyreCar also generates revenue from late fees and referrals. However, the insurance fees represent about 50% of total revenue. In all, HyreCar nets about 45% of the gross revenue, which is the rental charge plus the driver fee plus the insurance charge, as illustrated in the following Exhibit. This
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