Ryde Q1 Revenue Up 38% to S$3.77M as EBITDA Deficit Narrows
Ryde reported Q1 2026 revenue of S$3.77 million (US$2.93 million), up 38% year-on-year driven by stronger rider and driver-partner engagement. The adjusted EBITDA deficit narrowed 44% to S$1.02 million (US$0.79 million), while shareholders’ equity climbed to S$31.12 million (US$24.14 million) after late-2025 capital raises.
1. First Quarter Financial Results
Ryde reported revenue of S$3.77 million (US$2.93 million) for the quarter ended March 31, 2026, a 38% increase from S$2.72 million in the prior year driven by expanded supply and demand on its mobility platform.
2. Adjusted EBITDA Improvement
The adjusted EBITDA deficit narrowed by 44% to S$1.02 million (US$0.79 million) as the company optimized driver-partner incentives and reduced rider-related costs to strengthen operational efficiency.
3. Balance Sheet Strengthened
Shareholders’ equity rose to S$31.12 million (US$24.14 million) following successful capital raises in September, October, and December 2025, enhancing financial flexibility for growth initiatives.
4. Strategic Outlook
Ryde reaffirmed its commitment to a zero-commission model and sustainable growth, highlighting the scalability of its leaner operating model and resilient platform engagement as drivers for long-term profitability.