Wag! Group Co. Financials
This page shows Wag! Group Co. (PETXQ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2024 reveals a high-gross-margin, asset-light model where tight liquidity rather than production cost became the operating constraint.
From FY2022 to FY2024, cash reserves fell from$39.0M to$5.6M while the current ratio slid from 2.9x to 0.5x and long-term debt dropped to$0 ; that combination means the balance-sheet strain migrated away from term borrowing and toward near-term obligations.
With gross margin above
Operating cash flow was
Financial Health Signals
Based on FY2024 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Wag! Group Co.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Wag! Group Co.'s revenue declined 16% year-over-year, from $83.9M to $70.5M. This contraction results in a growth score of 56/100.
Wag! Group Co. has elevated debt relative to equity (D/E of 0.00), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Wag! Group Co.'s current ratio of 0.51 is below the typical benchmark, resulting in a score of 4/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Wag! Group Co. generated -$7.0M in operating cash flow, capex of $1.8M consumed most of it, leaving -$8.8M in free cash flow. This results in a low score of 1/100, reflecting heavy capital investment rather than weak cash generation.
Wag! Group Co. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Wag! Group Co. generates $0.40 in operating cash flow (-$7.0M OCF vs -$17.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Wag! Group Co. generated $70.5M in revenue in fiscal year 2024. This represents a decrease of 16.0% from the prior year.
Wag! Group Co. reported -$17.6M in net income in fiscal year 2024. This represents a decrease of 31.9% from the prior year.
Wag! Group Co. earned $-0.39 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 11.4% from the prior year.
Cash & Balance Sheet
Wag! Group Co. generated -$8.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 29.4% from the prior year.
Wag! Group Co. held $5.6M in cash against $0 in long-term debt as of fiscal year 2024.
Wag! Group Co. had 50M shares outstanding in fiscal year 2024. This represents an increase of 26.9% from the prior year.
Margins & Returns
Wag! Group Co.'s gross margin was 92.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 1.0 percentage points from the prior year.
Wag! Group Co.'s net profit margin was -24.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 9.0 percentage points from the prior year.
Capital Allocation
Wag! Group Co. invested $1.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 407.5% from the prior year.
PETXQ Income Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16.7M+10.3% | $15.2M-1.7% | $15.4M+16.9% | $13.2M-29.2% | $18.7M-19.7% | $23.2M+7.1% | $21.7M-0.6% | $21.8M |
| Cost of Revenue | $1.3M-11.1% | $1.4M+2.1% | $1.4M+23.2% | $1.1M-1.0% | $1.2M-26.2% | $1.6M-11.1% | $1.8M+22.6% | $1.4M |
| Gross Profit | $15.4M+12.5% | $13.7M-2.1% | $14.0M+16.3% | $12.1M-31.1% | $17.5M-19.2% | $21.6M+8.8% | $19.9M-2.2% | $20.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $4.6M+16.6% | $4.0M-8.3% | $4.3M+2.1% | $4.2M+11.1% | $3.8M-10.1% | $4.2M-10.5% | $4.7M+1.2% | $4.7M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $1.6M+33.5% | $1.2M-4.4% | $1.2M-17.4% | $1.5M-6.3% | $1.6M-15.3% | $1.9M+8.9% | $1.7M-9.6% | $1.9M |
| Income Tax | $60K+246.3% | -$41K-150.0% | $82K | $0-100.0% | $82K+8300.0% | -$1K-107.1% | $14K-65.9% | $41K |
| Net Income | -$6.1M-25.7% | -$4.9M-1.6% | -$4.8M+23.1% | -$6.3M-178.2% | -$2.3M+46.9% | -$4.2M-22.4% | -$3.5M-57.8% | -$2.2M |
| EPS (Diluted) | $-0.12-20.0% | $-0.10 | N/A | $-0.13-116.7% | $-0.06+45.5% | $-0.11 | N/A | $-0.06 |
PETXQ Balance Sheet
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $24.4M-15.4% | $28.8M-2.0% | $29.4M-9.7% | $32.6M-3.0% | $33.6M-17.6% | $40.8M-12.7% | $46.7M-3.2% | $48.2M |
| Current Assets | $10.9M-25.6% | $14.7M-2.7% | $15.1M-17.5% | $18.3M-4.0% | $19.0M-27.5% | $26.2M-17.5% | $31.8M-7.3% | $34.3M |
| Cash & Equivalents | $2.7M-56.4% | $6.1M+8.8% | $5.6M-33.3% | $8.4M-8.5% | $9.2M-26.7% | $12.6M-31.2% | $18.3M-17.8% | $22.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $5.5M0.0% | $5.5M-15.9% | $6.6M+0.5% | $6.5M-12.8% | $7.5M-32.3% | $11.1M+10.8% | $10.0M+18.1% | $8.5M |
| Goodwill | $4.6M0.0% | $4.6M0.0% | $4.6M0.0% | $4.6M0.0% | $4.6M0.0% | $4.6M0.0% | $4.6M0.0% | $4.6M |
| Total Liabilities | $32.4M+0.3% | $32.3M+8.0% | $29.9M-1.0% | $30.2M-14.6% | $35.4M-15.8% | $42.0M-6.7% | $45.1M+1.7% | $44.3M |
| Current Liabilities | $32.0M+0.4% | $31.9M+8.2% | $29.5M-0.6% | $29.6M+124.6% | $13.2M-33.2% | $19.7M+7.3% | $18.4M+5.3% | $17.5M |
| Long-Term Debt | N/A | N/A | $0 | $0-100.0% | $21.5M+0.2% | $21.4M-16.5% | $25.7M-0.2% | $25.7M |
| Total Equity | -$8.0M-130.8% | -$3.5M-609.4% | -$489K-120.6% | $2.4M+233.1% | -$1.8M-44.2% | -$1.2M-175.2% | $1.6M-58.0% | $3.9M |
| Retained Earnings | -$190.3M-3.3% | -$184.2M-2.7% | -$179.3M-2.8% | -$174.5M-3.7% | -$168.2M-1.4% | -$166.0M-2.6% | -$161.7M-2.2% | -$158.3M |
PETXQ Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.7M-289.1% | $1.4M+181.4% | -$1.7M+46.8% | -$3.3M-48.6% | -$2.2M-1403.0% | $168K+109.1% | -$1.8M+19.9% | -$2.3M |
| Capital Expenditures | $207K-47.7% | $396K-30.2% | $567K+40.0% | $405K-27.0% | $555K+82.0% | $305K-5.0% | $321K+3466.7% | $9K |
| Free Cash Flow | -$2.9M-383.7% | $1.0M+144.0% | -$2.3M+37.2% | -$3.7M-33.3% | -$2.7M-1902.9% | -$137K+93.7% | -$2.2M+6.2% | -$2.3M |
| Investing Cash Flow | -$207K+47.7% | -$396K+30.2% | -$567K-40.0% | -$405K+40.7% | -$683K-123.9% | -$305K+80.9% | -$1.6M-567.5% | $342K |
| Financing Cash Flow | -$586K-13.1% | -$518K+0.2% | -$519K-118.1% | $2.9M+677.3% | -$497K+91.1% | -$5.6M-932.0% | -$541K-1.5% | -$533K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PETXQ Financial Ratios
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 92.3%+1.8pp | 90.5%-0.3pp | 90.8%-0.5pp | 91.3%-2.5pp | 93.8%+0.5pp | 93.2%+1.4pp | 91.8%-1.5pp | 93.4% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -36.8%-4.5pp | -32.3%-1.1pp | -31.2%+16.2pp | -47.4%-35.4pp | -12.1%+6.2pp | -18.3%-2.3pp | -16.0%-5.9pp | -10.1% |
| Return on Equity | N/A | N/A | N/A | -263.7% | N/A | N/A | -210.5%-154.5pp | -56.0% |
| Return on Assets | -25.2%-8.2pp | -17.0%-0.6pp | -16.4%+2.9pp | -19.2%-12.5pp | -6.7%+3.7pp | -10.4%-3.0pp | -7.4%-2.9pp | -4.5% |
| Current Ratio | 0.34-0.1 | 0.46-0.1 | 0.51-0.1 | 0.62-0.8 | 1.44+0.1 | 1.33-0.4 | 1.73-0.2 | 1.96 |
| Debt-to-Equity | -4.05+5.3 | -9.31-9.3 | 0.000.0 | 0.00+12.0 | -12.03+5.3 | -17.31-32.9 | 15.59+9.0 | 6.55 |
| FCF Margin | -17.2%-23.8pp | 6.7%+21.5pp | -14.9%+12.8pp | -27.7%-13.0pp | -14.7%-14.1pp | -0.6%+9.4pp | -10.0%+0.6pp | -10.6% |
Note: Shareholder equity is negative (-$489K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.51), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Wag! Group Co.'s annual revenue?
Wag! Group Co. (PETXQ) reported $70.5M in total revenue for fiscal year 2024. This represents a -16.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Wag! Group Co.'s revenue growing?
Wag! Group Co. (PETXQ) revenue declined by 16% year-over-year, from $83.9M to $70.5M in fiscal year 2024.
Is Wag! Group Co. profitable?
No, Wag! Group Co. (PETXQ) reported a net income of -$17.6M in fiscal year 2024, with a net profit margin of -24.9%.
How much debt does Wag! Group Co. have?
As of fiscal year 2024, Wag! Group Co. (PETXQ) had $5.6M in cash and equivalents against $0 in long-term debt.
What is Wag! Group Co.'s gross margin?
Wag! Group Co. (PETXQ) had a gross margin of 92.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Wag! Group Co.'s net profit margin?
Wag! Group Co. (PETXQ) had a net profit margin of -24.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Wag! Group Co.'s free cash flow?
Wag! Group Co. (PETXQ) generated -$8.8M in free cash flow during fiscal year 2024. This represents a -29.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Wag! Group Co.'s operating cash flow?
Wag! Group Co. (PETXQ) generated -$7.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Wag! Group Co.'s total assets?
Wag! Group Co. (PETXQ) had $29.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Wag! Group Co.'s capital expenditures?
Wag! Group Co. (PETXQ) invested $1.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Wag! Group Co.'s current ratio?
Wag! Group Co. (PETXQ) had a current ratio of 0.51 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Wag! Group Co.'s debt-to-equity ratio?
Wag! Group Co. (PETXQ) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Wag! Group Co.'s return on assets (ROA)?
Wag! Group Co. (PETXQ) had a return on assets of -59.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Wag! Group Co.'s cash runway?
Based on fiscal year 2024 data, Wag! Group Co. (PETXQ) had $5.6M in cash against an annual operating cash burn of $7.0M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Wag! Group Co.'s debt-to-equity ratio negative or unusual?
Wag! Group Co. (PETXQ) has negative shareholder equity of -$489K as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Wag! Group Co.'s Piotroski F-Score?
Wag! Group Co. (PETXQ) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Wag! Group Co.'s earnings high quality?
Wag! Group Co. (PETXQ) has an earnings quality ratio of 0.40x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Wag! Group Co.?
Wag! Group Co. (PETXQ) scores 10 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.