Ryde Group Ltd. announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the Securities and Exchange Commission on April 28, 2025. The report provides a comprehensive overview of the company's financial performance and operational activities.
For fiscal year 2024, Ryde reported revenue of $6.58 million, which remained largely consistent with $6.57 million in 2023 and $6.59 million in 2022. Gross profit, however, saw a notable improvement, rising to $3.20 million in 2024 from $1.40 million in 2023, resulting in a gross profit margin of 49% compared to 21% in 2023.
Despite the improved gross profit, the company reported a net loss of -$13.73 million in 2024, a significant increase from -$9.75 million in 2023 and -$3.70 million in 2022. Diluted earnings per share for 2024 stood at -$0.64, reflecting the ongoing investments and growth phase.
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