2 May 2022
The business continues to show strong momentum, with revenues growing at c.33% in the first quarter of 2022 against Q1 of 2021, while operating profit grew at c.69% in the same period. As a result, the company expects to reach positive total EBITDA in the third quarter of 2022, which is on track to be a record year in all financial and operational metrics
Shareholders refinanced all the company’s debt and are planning to inject additional funding needed to reach positive cash flow
Max Krasnykh and Matteo de Renzi are appointed co-CEOs, as the founder and CEO Dave Waiser departs to build a new company after more than a decade leading Gett
LONDON, United Kingdom, May 03, 2022 – Gett, a leading corporate ground transportation management (GTM) company has announced today that Q1 2022 revenue and operating profit grew by c.33% and c.69%, respectively. At the same time, Max Krasnykh and Matteo de Renzi are appointed co-CEOs, as the founder Dave Waiser departs to build a new company after more than a decade at the helm of Gett.
Max Krasnykh and Matteo de Renzi were previously COO and Managing Director of GTM and UK, respectively. Gett’s global Executive Committee will also include the current CFO Aliaksei Aneichyk, and current MD of Gett Israel Mark Oun, among other senior leaders in the business. Dave Waiser will be appointed Head of Advisory for the Board and will assist the Board in the strategic direction of the company.
To support the company's objectives of growth shareholders refinanced all the company’s debt, and are planning to inject additional funding to enable the company to meet its business goals and reach a positive cash flow, for the first time in the company’s history.
Gett will remain focused on its core markets as well as the rollout of its global ground transportation and spend management solution for corporates.
Dave Waiser, said: “Gett is my 3rd startup and I had the privilege to be its CEO for the past 10 years - I'm very proud of the team and the company’s incredible achievements. As the company's mission is clear and the performance is strong, it is the right moment for me to focus on building a new venture. I will continue to support Gett in an advisory capacity. With Max and Matteo at the helm, the company is in good hands; I have worked with them for over 6 years and I’m confident they can take the business to the next level. I want to thank the Board, the entire Gett team, and all our clients and partners all over the world for their support and everything they have done for the success of Gett.”
Amos Genish, Chairman of the Board, comments: “On behalf of the entire Board, I wish Dave the best of luck with his new company. I’d like to thank Dave for building and making Gett the great company it is today: a differentiated B2B-focused player in a $100bn corporate ground transportation market. The business is showing very strong momentum and is fully backed by its shareholders; we are very fortunate to have two extremely capable and trusted leaders like Max and Matteo leading it going forward - all of this makes me, the Board, Gett shareholders truly excited about the future of Gett as it expands globally.