Urgent.ly Inc. (NASDAQ:ULY), a provider of services in computer processing and data preparation, announced the results of its 2024 Annual Meeting of Stockholders, which took place on Tuesday. Shareholders voted on two key proposals, electing Class I directors and ratifying the company's independent auditors for the upcoming fiscal year.
In the elections for the board of directors, Gina Domanig and Ryan Pollock were elected as Class I directors, each to serve until the 2027 annual meeting or until their successors are duly elected and qualified. Domanig received 2,988,213 votes in favor, with 15,944 withheld, and Pollock garnered 2,990,224 votes for, with 13,933 withheld. Both candidates had 3,851,985 broker non-votes.
Additionally, shareholders approved the appointment of CohnReznick LLP as the independent registered public accounting firm for Urgent.ly Inc. for the fiscal year ending December 31, 2024. The decision was unanimous, with 6,835,131 votes for and 21,011 abstentions.
The meeting saw a quorum with 51.07% of the voting power of all issued and outstanding shares of common stock represented in person or by proxy. The matters voted upon are further described in the definitive proxy statement filed with the Securities and Exchange Commission on April 29, 2024.
InvestingPro Insights
As Urgent.ly Inc. (NASDAQ:ULY) navigates through its corporate governance with the recent election of board directors and ratification of auditors, investors may be looking for deeper financial insights. According to InvestingPro data, Urgent.ly's market capitalization stands at a modest $23.49 million, reflecting the size of the company within its industry. Despite a challenging economic environment, the company has managed to maintain a positive return on assets over the last twelve months as of Q1 2024, boasting an impressive 125.05%. However, it's important to note that the company's revenue has declined by 11.09% during the same period, and the stock has experienced a significant drop of 67.11% in its one-year price total return.
InvestingPro Tips highlight that Urgent.ly is currently trading at a low revenue valuation multiple and is facing a potential sales decline in the current year. These factors may be of particular interest to investors considering the company's future revenue streams and valuation. Additionally, the company's short-term obligations exceed its liquid assets, which may raise concerns about its ability to meet immediate financial liabilities.
For those seeking to delve further into Urgent.ly's financial health and stock performance, additional analysis and tips are available on InvestingPro. With a total of 9 more InvestingPro Tips available, investors can gain a comprehensive understanding of Urgent.ly's financial position. Remember to use coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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