Getaround, a global carsharing marketplace, reported a net loss of $15.5 million for the third quarter of 2024, an improvement from the $27.3 million loss in the same period last year. The basic and diluted net loss per share was $0.15, compared to $0.29 in 2023. Despite the net loss, the company's financial performance shows signs of improvement with a reduced net loss year-on-year. Getaround's business development continues to focus on its proprietary technology platform, aiming to simplify and automate car sharing. The platform supports approximately 2.2 million unique guests and has around 66,000 active cars across more than 1,000 cities in 8 countries. The company's future plans include strategic initiatives to grow its user base and expand its market presence. However, Getaround faces challenges...Show More

Getaround, a global carsharing marketplace, reported a net loss of $15.5 million for the third quarter of 2024, an improvement from the $27.3 million loss in the same period last year. The basic and diluted net loss per share was $0.15, compared to $0.29 in 2023. Despite the net loss, the company's financial performance shows signs of improvement with a reduced net loss year-on-year. Getaround's business development continues to focus on its proprietary technology platform, aiming to simplify and automate car sharing. The platform supports approximately 2.2 million unique guests and has around 66,000 active cars across more than 1,000 cities in 8 countries. The company's future plans include strategic initiatives to grow its user base and expand its market presence. However, Getaround faces challenges with its liquidity and capital resources, having incurred cumulative losses and expecting to continue incurring losses for the foreseeable future. The company's ability to continue as a going concern is dependent on its ability to generate cash from operations and secure additional financing. Getaround has engaged in financing activities, including an amended and restated note with Mudrick Capital Management L.P. for an increased principal amount of $97.8 million, maturing in August 2026.