Ryde achieved seve al sig ifica t milesto es i the fi st half of 2026, i cludi g:
“I the fi st half of 2026, Ryde eco ded 17% yea -o -yea eve ue g owth to S$6.7 millio , while a owi g its Adjusted EBITDA deficit by 37% to S$1.9 millio ,” said a spokespe so of Ryde.
“Du i g the pe iod, we ef eshed ou b a d a d app expe ie ce, expa ded ou mobility offe i gs with RydePET XL, a d fo malised ou collabo atio with NPHVA to suppo t d ive -pa t e s. We also completed a US$14.9 millio p ivate offe i g i Ap il 2026 to st e gthe ou fi a cial positio a d suppo t futu e g owth.”
As p eviously disclosed, a sha eholde has p ese ted a petitio i espect of the Compa y i the G a d Cou t of the Cayma Isla ds, a d a putative sha eholde s class actio has bee filed agai st the Compa y i the U ited States Dist ict Cou t fo the Southe Dist ict of New Yo k. The Compa y is t eated as a omi al espo de t i the Cayma p oceedi gs. Fo mo e i fo matio , see Note 15(b) to the u audited co de sed co solidated fi a cial stateme ts fo 1H 2026, which the Compa y fu ished to the U.S. Secu ities a d Excha ge Commissio today o Fo m 6-K.
Ryde is a supe mobility app fou ded i Si gapo e a d ecog ized as the wo ld’s FIRST o -dema d ca pooli g app si ce 2014. As a publicly listed compa y o the NYSE Ame ica , Ryde is eimagi i g the way people a d goods move a ou d by offe i g a full suite of se vices, i cludi g ca pooli g, p ivate hi e, taxi, a d delive y. What disti guishes Ryde is its commitme t to empowe i g p ivate-hi e a d taxi pa t e s by taki g 0% commissio , e su i g that d ive s etai mo e of thei ha d-ea ed ea i gs. Fo mo e i fo matio , please visit https:// ydesha i g.com/.
This p ess elease co tai s fo wa d-looki g stateme ts. I additio , f om time to time, we o ou ep ese tatives may make fo wa d-looki g stateme ts o ally o i w iti g. We base these fo wa d-looki g stateme ts o ou expectatio s a d p ojectio s about futu e eve ts, which we de ive f om the i fo matio cu e tly available to us. Such fo wa d-looki g stateme ts elate to futu e eve ts o ou futu e pe fo ma ce, i cludi g: ou fi a cial pe fo ma ce a d p ojectio s; ou g owth i eve ue a d ea i gs; a d ou busi ess p ospects a d oppo tu ities. You ca ide tify fo wa d-looki g stateme ts by those that a e ot histo ical i atu e, pa ticula ly those that use te mi ology such as “may,” “should,” “expects,” “a ticipates,” “co templates,” “estimates,” “believes,” “pla s,” “p ojected,” “p edicts,” “pote tial,” o “hopes” o the egative of these o simila te ms. I evaluati g these fo wa d-looki g stateme ts, you should co side va ious facto s, i cludi g: ou ability to cha ge the di ectio of the Compa y; ou ability to keep pace with ew tech ology a d cha gi g ma ket eeds; a d the competitive e vi o me t of ou busi ess. Facto s that could cause actual esults to diffe also i clude the outcome of the sha eholde petitio i the Cayma Isla ds a d the sha eholde s class actio i the U ited States, the ecove y of the Compa y’s deposits, co ve tible otes a d adva ces, a d the Compa y’s ability to aise additio al fu di g. These a d othe facto s may cause ou actual esults to diffe mate ially f om a y fo wa d-looki g stateme t.
Fo wa d-looki g stateme ts a e o ly p edictio s. The fo wa d-looki g eve ts discussed i this p ess elease a d othe stateme ts made f om time to time by us o ou ep ese tatives, may ot occu , a d actual eve ts a d esults may diffe mate ially a d a e subject to isks, u ce tai ties, a d assumptio s about us. We a e ot obligated to publicly update o evise a y fo wa d-looki g stateme t.
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This docume t i cludes efe e ces to o -US GAAP fi a cial measu es. Ryde uses these o -US GAAP fi a cial measu es fo fi a cial a d ope atio al decisio -maki g a d as a mea s to evaluate pe iod-to-pe iod compa iso s, a d Ryde’s ma ageme t believes that these o -US GAAP fi a cial measu es p ovide mea i gful suppleme tal i fo matio ega di g its pe fo ma ce by excludi g ce tai items that may ot be i dicative of its ecu i g co e busi ess ope ati g esults. Howeve , the e a e a umbe of limitatio s elated to the use of o -US GAAP fi a cial measu es, a d as such, the p ese tatio of these o -US GAAP fi a cial measu es should ot be co side ed i isolatio f om, o as a alte ative to, fi a cial measu es dete mi ed i acco da ce with US GAAP. I additio , these o -US GAAP fi a cial measu es may diffe f om o -US GAAP fi a cial measu es with compa able ames used by othe compa ies. See below fo additio al expla atio s about the o -US GAAP fi a cial measu es, i cludi g thei defi itio s a d a eco ciliatio of these measu es to the most di ectly compa able US GAAP fi a cial measu es.
Expla atio of o -US GAAP fi a cial measu es:
Adjusted EBITDA is a o -US GAAP fi a cial measu e calculated as et loss adjusted to exclude: (a) fi a ce cost, (b) i come tax expe se o be efit, (c) dep eciatio a d amo tizatio , (d) sha e-based compe satio , a d (e) impai me t loss o goodwill. Comme ci g with the six mo ths e ded Ju e 30, 2026, the Compa y also excludes its sha e of esults of joi t ve tu es, which ma ageme t does ot co side i dicative of the Compa y’s ope ati g pe fo ma ce. No such amou ts a ose i the six mo ths e ded Ju e 30, 2025 a d the compa ative amou t is the efo e u affected.
Adjusted EBITDA has limitatio s as a fi a cial measu e, should be co side ed as suppleme tal i atu e, a d is ot mea t as a substitute fo the elated fi a cial i fo matio p epa ed i acco da ce with US GAAP. Fo a eco ciliatio of Adjusted EBITDA to the most di ectly compa able US GAAP measu e see the sectio titled “Reco ciliatio of No -US GAAP Fi a cial Measu es“.
To suppleme t ou fi a cial i fo matio , we use the followi g o -US GAAP fi a cial measu es: Adjusted EBITDA. Howeve , the defi itio s of ou o -US GAAP fi a cial measu es may be diffe e t f om those used by othe compa ies, a d the efo e, may ot be compa able. Fu the mo e, these o -US GAAP fi a cial measu es have ce tai limitatio s i that they do ot i clude the impact of ce tai expe ses that a e eflected i ou co solidated fi a cial stateme ts that a e ecessa y to u ou busi ess. Thus, these o -US GAAP fi a cial measu es should be co side ed i additio to, ot as substitutes fo , o i isolatio f om, measu es p epa ed i acco da ce with US GAAP. We compe sate fo these limitatio s by p ovidi g a eco ciliatio of these o -US GAAP fi a cial measu es to the elated US GAAP fi a cial measu es. We e cou age i vesto s a d othe s to eview ou fi a cial i fo matio i its e ti ety, ot to ely o a y si gle fi a cial measu e a d to view these o -US GAAP fi a cial measu es i co ju ctio with thei espective elated US GAAP fi a cial measu es.
The followi g tables p ovide eco ciliatio s of Adjusted EBITDA.
| (4,812 | ) | (13,421 | ) | (10,371 | ) | Dep eciatio a d amo tizatio expe ses | 302 | 325 | 251 | Fi a ce costs | 3 | 1 | 1 | Sha e-based compe satio | 1,542 | 11,392 | 8,803 | I come tax be efit | (32 | ) | – | – | Sha e of esults of a joi t ve tu e | – | (198 | ) | (153 | ) | (2,997 | ) | (1,901 | ) | (1,469 | ) |
| 5,748 | 6,735 | 5,204 | D ive s a d ide s cost a d elated expe ses | (2,922 | ) | (3,552 | ) | (2,745 | ) | Total expe ses, et | (6,128 | ) | (5,410 | ) | (4,180 | ) | (3,302 | ) | (2,227 | ) | (1,721 | ) | – | 198 | 153 | Sha e-based compe satio | (1,542 | ) | (11,392 | ) | (8,803 | ) | (4,844 | ) | (13,421 | ) | (10,371 | ) | I come tax be efit | 32 | – | – | (4,812 | ) | (13,421 | ) | (10,371 | ) | Othe comp ehe sive loss | Fo eig cu e cy t a slatio adjustme t | (233 | ) | (24 | ) | (18 | ) | (5,045 | ) | (13,445 | ) | (10,389 | ) | Less: Comp ehe sive loss att ibutable to o -co t olli g i te est | (2 | ) | (10 | ) | (8 | ) | (5,043 | ) | (13,435 | ) | (10,381 | ) | Basic a d diluted | (0.18 | ) | (0.09 | ) | (0.07 | ) | Basic a d diluted (‘000) | 27,391 | 142,268 | 142,268 |
Cu e t assets | 35,687 | 54,441 | 42,067 | No -cu e t assets | 2,634 | 2,830 | 2,187 | 38,321 | 57,271 | 44,254 | Cu e t liabilities | 6,339 | 5,672 | 4,383 | No -cu e t liabilities | – | – | – | 6,339 | 5,672 | 4,383 | 31,982 | 51,599 | 39,871 | 38,321 | 57,271 | 44,254 |
