HYRE - HyreCar outlines business updates

In its update to shareholders, HyreCar's (NASDAQ:HYRE) CEO Joe Furnari announced executive appointments which will replace Henry Park's role as COO who resigned effective Jan.31. A.J. Lee has been appointed SVP, Growth, and Megan Behrens, SVP, Product & Operations, has expanded the scope of her responsibilities. Demand for vehicles remained strong going into the holidays with commercial fleet utilization running above 85%. Among the notable 2021 accomplishments: the company launched enhanced dynamic pricing to scale revenue with driver risk profiles, it became an official vehicle solution provider for drivers using the Uber platform and also right-sized its operating cost structure. "HyreCar also assisted strategic partners to obtain increased lending capacity across 2021 which helped add dedicated cars to the platform," Furnari added. With improving car supply shortages, the company's commercial fleet partners, including AmeriDrive, will be well-positioned to acquire vehicles in 2022. Shares trading 1.7% down premarket.

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HyreCar outlines business updates