HyreCar Provides Business Update and Indication of First Quarter 2020 Revenue
HyreCar Inc. (HYRE)
Last hyrecar inc. earnings: 3/25 04:10 pm
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Source: Business Wire
Revenues Estimated Between $5.5 - $5.6 Million as Quarterly Rental Days Top 229,000; and the Platform Transitions Drivers to Delivery Services LOS ANGELES--(BUSINESS WIRE)--HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for ridesharing, food, and package delivery services, today announced preliminary results for the first quarter ended March 31, 2020. First-quarter revenues are expected to be between $5.5 and $5.6 million, with the number of rental days topping 229,000 for the quarter, up 16% sequentially from the prior quarter’s total of 197,000, and 66% year-over-year, even with the effect of the last two weeks of the quarter with the COVID-19 situation. Additionally, we expect to release our 2019 10-K by April 14, 2020.“We had tremendous momentum going into the first quarter, and rental day performance from Q1 shows the power of our platform. Initially average daily rentals on a weekly basis grew 18% from the first week of the year to the second week in March, where we
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