Urgent.ly Inc. entered into a Merger Agreement on March 13, 2026, with Agero, Inc. and Medford Hawk, Inc., for a cash tender offer of $5.50 per share, with the merger expected to close in the first half of 2026. The company was delisted from the Nasdaq Stock Market LLC on March 18, 2026, and its Common Stock is now traded on the OTCQB Venture Market under the symbol ULYX. Revenue decreased by 10% to $129.2 million in 2025 from $142.9 million in 2024, primarily due to contract wind-downs and non-renewals from key Customer Partners. Operating loss significantly improved to $(8.9) million in 2025 from $(27.2) million in 2024, and net loss improved to $(20.4) million in 2025 from $(44.0) million in 2024. Gross profit increased to $32.8 million in 2025 (25% margin) from $31.6 million in 2024 (22% margin), driven by increased revenue per dispatch and reduced service provider costs. The number of completed dispatches decreased to 0.8 million in 2025 from 0.9 million in 2024. The independent registered public accounting firm included an explanatory paragraph in its report, raising substantial doubt about the company's ability to continue as a going concern. Material weaknesses in internal controls over financial reporting were identified, related to IT general controls and segregation of duties, with remediation plans underway. As of December 31, 2025, the company had $5.3 million in cash, cash equivalents, and restricted cash, with a total principal debt balance of $64.4 million maturing in 2026. The company divested its wholly-owned subsidiary, The Floow Limited, in September 2024, retaining a 49% equity ownership.