“Getaround’s Third Quarter Profits Bring Joy to Investors, But Challenges Still Loom Ahead”
Peer-to-peer carsharing company Getaround has filed its first earnings report since going public a year ago via a SPAC combination.
The company’s third-quarter earnings report details a company seeing quick revenue growth, but not enough top line yet to cover its expenses.
In the third quarter, the company lost $27.3 million on a net GAAP basis, 16% better than what it reported in Q3 2022.
The company didn’t share its revenue goals for the year, but its Q3 revenues reflect an annualized run-rate of over $95 million.
The company did not file its 2022 annual report, and has only just filed its third-quarter earnings report.
