OverviewSuggest Edit

HyreCar operates a Web-based car-sharing marketplace. It allows car owners to rent their idle cars to ride-sharing service drivers, such as Uber and Lyft drivers.
TypePublic
Founded2014
HQLos Angeles, US
Websitehyrecar.com
Employee Ratings3.9

Latest Updates

Employees (est.) (Feb 2019)26
Revenue (FY, 2019)$15.9 M(+63%)
Share Price (Sept 2020)$3.6 (+3%)
Cybersecurity ratingCMore

Key People/Management at HyreCar

Grace Mellis

Grace Mellis

Chairman
Joe Furnari

Joe Furnari

CEO & Board Member
Michael Root

Michael Root

Board Member
Jay Vijayan

Jay Vijayan

Board Member
Mike Furnari

Mike Furnari

CBDO
Scott Brogi

Scott Brogi

CFO
Show more

HyreCar Office Locations

HyreCar has an office in Los Angeles
Los Angeles, US (HQ)
355 S Grand Ave #1650
Show all (1)

HyreCar Financials and Metrics

HyreCar Revenue

Embed Graph
View revenue for all periods
HyreCar's revenue was reported to be $15.85 m in FY, 2019
USD

Revenue (Q1, 2020)

5.8m

Gross profit (Q1, 2020)

2.2m

Gross profit margin (Q1, 2020), %

37.6%

Net income (Q1, 2020)

(4.1m)

EBIT (Q1, 2020)

(4.1m)

Market capitalization (22-Sept-2020)

63.0m

Closing stock price (22-Sept-2020)

3.6

Cash (30-Jun-2020)

7.2m

EV

57.8m
HyreCar's current market capitalization is $63 m.
Annual
USDFY, 2018FY, 2019

Revenue

9.8m15.9m

Cost of goods sold

5.1m9.8m

Gross profit

4.6m6.0m

Gross profit Margin, %

48%38%
Quarterly
USDQ2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

2.3m581.5k3.5m3.8m3.7m5.8m

Cost of goods sold

1.2m1.2m1.6m1.5m1.4m3.6m

Gross profit

1.1m(654.2k)2.0m2.3m2.3m2.2m

Gross profit Margin, %

47%(113%)56%61%63%38%
Annual
USDFY, 2018FY, 2019

Cash

6.8m10.7m

Accounts Receivable

161.2k84.7k

Current Assets

7.1m11.1m

PP&E

10.6k9.1k
Quarterly
USDQ2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Cash

11.9m8.7m6.3m5.1m13.1m7.8m7.2m

Accounts Receivable

60.8k128.6k152.0k155.7k169.5k78.5k59.2k

Current Assets

12.0m9.0m6.7m5.7m13.6m8.3m8.2m

PP&E

3.8k3.6k12.2k10.5k9.8k8.5k7.8k
Annual
USDFY, 2018FY, 2019

Net Income

(12.5m)

Depreciation and Amortization

900.070.4k

Accounts Payable

(362.5k)1.4m

Cash From Operating Activities

(6.5m)(8.1m)
Quarterly
USDQ2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Net Income

(6.8m)(8.6m)(1.7m)(3.7m)(7.4m)(4.1m)(7.9m)

Depreciation and Amortization

392.0623.012.9k32.1k51.2k19.2k38.3k

Accounts Payable

561.3k(434.9k)180.4k138.9k202.7k646.5k443.4k

Cash From Operating Activities

(1.9m)(4.8m)(1.3m)(2.6m)(5.7m)(2.9m)(5.5m)
USDQ2, 2018

EV/EBIT

-13 x

EV/CFO

-21.3 x

Financial Leverage

1.3 x
Show all financial metrics

HyreCar Cybersecurity Score

Cybersecurity ratingPremium dataset

C

72/100

SecurityScorecard logo

HyreCar Online and Social Media Presence

Embed Graph

HyreCar News and Updates

HyreCar shares rise 5% on better-than-expected revenue, earnings

HyreCar Inc. shares were up 5% in after-hours trading Thursday after the online car-sharing service reported fiscal second-quarter results that shot past Wall Street estimates. HyreCar reported an adjusted loss of $1.7 million, or 10 cents a share, compared with a loss of $1.4 million, or 12 cents …

SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating HyreCar Inc. for Potential Breaches of Fiduciary Duty By Its Board of Directors

NEW YORK, Aug. 3, 2020 /PRNewswire/ -- Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of HyreCar Inc. (NASDAQ: HYRE). If you are a...

HyreCar shares flat on higher revenue, bigger loss

HyreCar Inc. shares were up 0.5% in after-hours trading Wednesday after the digital car-sharing service reported fiscal fourth-quarter earnings that beat Wall Street estimates. HyreCar reported a loss of $4.9 million in the quarter, or 40 cents a share, compared with a loss of $2.7 million, or 31 c…

DriveItAway Acquires Groundbreaking New Technology for Mobility as a Service, Ends Relationship with HyreCar

HADDONFIELD, N.J., Dec. 19, 2018 /PRNewswire/ -- DriveItAway Inc., the industry leader in car dealer focused shared mobility, announces today that it has purchased the technology and assets of Whip Inc., including its operations and technology team lead by Transportation as a Service...

HyreCar Blogs

Lyft Fare Estimates – How Much Does Lyft Cost

People are increasingly using the Lyft services because they’re both affordable and convenient. All you have to do is download the Lyft app and determine the locations of both the start and the destination of your journey. Then, you just need to wait for a short amount of time for the Lyft driver to…

What is Uber Comfort – A Complete Guide 2020

Uber is always trying to meet the requirements and needs of their clients to the fullest, and they are continuously developing their business adding new, more personalized services, such as Uber Comfort. What is Uber Comfort? Uber Comfort is one of the services available in the Uber app, allowing yo…

Learn How to Use Lyft

Lyft is an American company specializing in ridesharing that operates in over 600 cities in the United States and some of the biggest cities in Canada. Ridesharing is the practice of matching a passenger and a nearby driver. Using the Lyft app, you can request a ride in a minute or less. In this way…

Booking Lyft Rides in Advance

One of the best features that have been added to the Lyft app is an option to schedule a ride in advance. At first, both Lyft and Uber reacted badly to the idea of a scheduled ride because they explained that it goes against their aim to be an on-demand ridesharing app. Previously, booking a [...] T…

Uber Rewards Program – a complete Guide to Uber Points

If you are happy with the services offered by Uber, and order rides frequently, you should consider joining Uber Rewards. This way, you’ll get access to special perks and an enhanced customer experience. What is Uber Rewards? Uber Rewards is a loyalty program that allows users to earn points as they…

What Are The Best Grocery Delivery Apps in 2020?

Thanks to modern technology, there's no longer any need for you to go to the nearby shop to get your groceries, saving yourself a lot of time and effort!  You can order all that you want using just an app. You only need a smartphone and the entire process will take a minute or two. [...] The post Wh…
Show more

HyreCar Frequently Asked Questions

  • When was HyreCar founded?

    HyreCar was founded in 2014.

  • Who are HyreCar key executives?

    HyreCar's key executives are Grace Mellis, Joe Furnari and Michael Root.

  • How many employees does HyreCar have?

    HyreCar has 26 employees.

  • What is HyreCar revenue?

    Latest HyreCar annual revenue is $15.9 m.

  • What is HyreCar revenue per employee?

    Latest HyreCar revenue per employee is $609.8 k.

  • Who are HyreCar competitors?

    Competitors of HyreCar include Amerco, Goldenage Technologies and FAST.

  • Where is HyreCar headquarters?

    HyreCar headquarters is located at 355 S Grand Ave #1650, Los Angeles.

  • Where are HyreCar offices?

    HyreCar has an office in Los Angeles.

  • How many offices does HyreCar have?

    HyreCar has 1 office.