Ryde Reports Unaudited First-Half 2026 Results as Revenue Reaches S$6.7 Million
Ryde Group reported 17% revenue growth for the first half of 2026, while its Adjusted EBITDA deficit narrowed to S$1.9 million. The company also disclosed operational milestones and updates on legal proceedings.
Ryde Group Ltd (NYSE American:RYDE) reported unaudited financial results for the six months ended June 30, 2026, recording revenue of S$6.7 million (US$5.2 million) and a narrower Adjusted EBITDA deficit. The Singapore-headquartered mobility and quick commerce company also outlined product updates, a private offering and ongoing legal proceedings.
Revenue increased 17% from S$5.7 million in 1H 2025. Mobility revenue rose 8% to S$4.5 million, which Ryde attributed to higher gross transaction value.
The results also included S$0.6 million in new management consultancy income. Ryde said the consultancy income was largely offset by related consultancy costs.
Adjusted EBITDA, a non-US GAAP measure, improved by 37%. The deficit narrowed to S$1.9 million (US$1.5 million) from S$3.0 million in 1H 2025. The company attributed the change mainly to lower legal and professional fees, which declined by S$1.3 million.
Ryde stated that US dollar amounts were translated at S$1.00 = US$0.7727, the rate on June 30, 2026 in the Federal Reserve Board's H.10 statistical release.
In January 2026, Ryde introduced a revised brand identity and changes to its app interface. The company said the work was intended to improve navigation, clarity and engagement.
Ryde formalised a collaboration with the National Private Hire Vehicles Association in February 2026. According to the company, the arrangement is intended to strengthen representation and support for driver-partners.
In April 2026, Ryde completed a US$14.9 million private offering. The company said the transaction was intended to strengthen its balance sheet and financial flexibility and support future growth.
Ryde expanded its pet mobility services in May 2026 with the launch of RydePET XL. It also enhanced pet-booking features to improve matching and ride availability.
Ryde said a shareholder had presented a petition concerning the company in the Grand Court of the Cayman Islands. A putative shareholders class action has also been filed against Ryde in the United States District Court for the Southern District of New York.
The company said it is treated as a nominal respondent in the Cayman proceedings. Further information is included in Note 15(b) to Ryde's unaudited condensed consolidated financial statements for 1H 2026.
Ryde defines Adjusted EBITDA as net loss adjusted to exclude finance cost, income tax expense or benefit, depreciation and amortization, share-based compensation and impairment loss on goodwill. Beginning with the six months ended June 30, 2026, the calculation also excludes the company's share of results of joint ventures. Ryde said the measure is supplemental and should not be viewed as a substitute for US GAAP financial measures.
In its forward-looking statement disclosures, Ryde said actual results could differ materially from expectations. The risks identified by the company include the outcomes of the Cayman Islands shareholder petition and the United States shareholders class action, recovery of the company's deposits, convertible notes and advances, and its ability to raise additional funding. Ryde also cited its ability to change the direction of the company, keep pace with new technology and changing market needs, and respond to the competitive environment.
Ryde describes itself as a Singapore-founded mobility app offering carpooling, private hire, taxi and delivery services. The company says it takes 0% commission from private-hire and taxi partners. Its shares trade on the NYSE American under the symbol RYDE.
Ryde reported 1H 2026 revenue of S$6.7 million (US$5.2 million), up 17% from S$5.7 million in 1H 2025.
Mobility revenue rose 8% to S$4.5 million, while management consultancy income contributed S$0.6 million and was largely offset by related costs.
The Adjusted EBITDA deficit narrowed to S$1.9 million (US$1.5 million) from S$3.0 million, with lower legal and professional fees cited as the main factor.
Ryde completed a US$14.9 million private offering in April 2026 and launched RydePET XL in May 2026.
The company disclosed a Cayman Islands shareholder petition and a putative shareholders class action in the Southern District of New York.
Ryde Group Ltd announced its unaudited financial results for the six months ended June 30, 2026, referred to as 1H 2026. The company also reported first-half milestones and provided an update on legal proceedings.
Ryde Group Ltd reported revenue of S$6.7 million (US$5.2 million) for 1H 2026, up 17% from S$5.7 million in 1H 2025. US dollar amounts were translated at S$1.00 = US$0.7727, the rate on June 30, 2026.
Ryde Group Ltd's mobility revenue rose 8% to S$4.5 million, which the company attributed to higher gross transaction value.
Ryde Group Ltd said its Adjusted EBITDA improved by 37%, with the deficit narrowing to S$1.9 million (US$1.5 million) in 1H 2026 from S$3.0 million in 1H 2025. The company said the improvement came mainly from lower legal and professional fees, which fell by S$1.3 million.
Ryde Group Ltd reported S$0.6 million of new management consultancy income. The company said this income was largely offset by related consultancy costs.
Ryde Group Ltd introduced a refreshed brand identity and enhanced its in-app user experience in January 2026. The company said the changes were intended to improve navigation, clarity and engagement.
Ryde Group Ltd formalised its collaboration with the National Private Hire Vehicles Association (NPHVA) in February 2026. The company said the collaboration was intended to strengthen representation and support for driver-partners.
Ryde Group Ltd completed a US$14.9 million private offering in April 2026. The company said the offering was intended to strengthen its balance sheet and financial flexibility for future growth.
Ryde Group Ltd expanded its pet mobility offering with RydePET XL in May 2026. The company also enhanced pet-booking features to improve matching and ride availability.
Ryde Group Ltd describes itself as a super mobility app founded in Singapore, offering carpooling, private hire, taxi and delivery services. The company says it takes 0% commission from private-hire and taxi partners.
Ryde Group Ltd shares trade on the NYSE American under the ticker symbol RYDE, shown in the announcement as NYSE American:RYDE.
Ryde Group Ltd said a shareholder had presented a petition concerning the company in the Grand Court of the Cayman Islands and that a putative shareholders class action had been filed in the United States District Court for the Southern District of New York. The company said it is treated as a nominal respondent in the Cayman proceedings and referred to Note 15(b) to its unaudited condensed consolidated financial statements for further information.
Ryde Group Ltd said actual results could differ materially because of factors including the outcome of the Cayman Islands shareholder petition and the United States shareholders class action, recovery of the company's deposits, convertible notes and advances, and its ability to raise additional funding. The company also identified its ability to change direction, keep pace with new technology and changing market needs, and manage the competitive environment as relevant factors.
Ryde Group Ltd defines Adjusted EBITDA as a non-US GAAP measure calculated by adjusting net loss to exclude finance cost, income tax expense or benefit, depreciation and amortisation, share-based compensation, and impairment loss on goodwill. From the six months ended June 30, 2026, the company also excludes its share of results of joint ventures, and it says the measure should be considered supplemental to, rather than a substitute for, US GAAP financial measures.