HyreCar Announces Fourth Quarter and Full-Year 2019 Results - Seite 3

Total operating expenses, consisting of sales and marketing, general and administrative, and research and development expenses, were $18.3 million in the full year of 2019, compared to $13.8 million in the same period a year ago. The increase in operating expenses was primarily due to increased sales and marketing expenses to support business expansion and does include $1.9 million in non-cash stock-based compensation costs.

Net loss in the full year of 2019 totaled $12.4 million, or ($0.89) per share, compared to a net loss of $11.2 million, or $(1.31) per share, in the prior year. Adjusted net loss for the full year, after excluding certain non-cash stock-based compensation for employee compensation and legal expenses was $10.5 million, or $(0.75) per share. A reconciliation of net income to adjusted net income per share is included within this press release.

Conference Call

Management will host an investor conference call at 2:00 p.m. PSDT (5:00 p.m. EST) on Wednesday, March 25, 2020 to discuss HyreCar’s full-year 2019 financial results, provide a corporate update, and conclude with Q&A from participants. To participate in the call, please dial [phone] (domestic) or [phone] (international). The conference code is 1588584. This call is being webcast and can be accessed by on the Investor Relations section of Hyrecar’s website at: https://ir.hyrecar.com/.

A replay of the webcast will be available approximately two hours after the conclusion of the call and remain available for approximately 90 calendar days.

About HyreCar

HyreCar Inc. (NASDAQ: HYRE) is a nationwide leader operating a carsharing marketplace for ridesharing in all 50 states and the District of Columbia via its proprietary technology platform. The Company has established a leading presence in Transportation as a Service (TaaS) through individual vehicle owners, dealers and OEM’s, who have been disrupted by automotive asset sharing. By providing a unique opportunity through our safe, secure, and reliable marketplace, HyreCar is transforming the industry by empowering all to profit from TaaS. For more information please visit hyrecar.com.