Summary by Moomoo AI
On March 28, 2024, Getaround, Inc., a carsharing marketplace, announced its financial results for the fiscal year ended December 31, 2023. The announcement was made through a press release which was furnished as Exhibit 99.1 to the company's Current Report on Form 8-K filed with the SEC. The report highlighted a series of leadership changes, including the appointment of Jason Mudrick as Chairperson of the board and Eduardo Iniguez as CEO. The company also reported on its strategic measures to achieve profitability, including a $20 million financing agreement with Mudrick Capital and a restructuring that reduced operating expenses by over $25 million annually. Despite suspending operations in New York due to high insurance costs, Getaround reported a 22% increase in total revenues to $72.7 million and a 16% increase in Gross Booking Value to $204 million. The company's net loss improved by 16% to $113.9 million, and Adjusted EBITDA loss improved by 20% to $72.0 million. The report also mentioned the acquisition of HyreCar assets and the launch of a new AI-based TrustScore model in collaboration with TransUnion.