Welcome to our dedicated page for Wag! Group news (Ticker: PET), a resource for investors and traders seeking the latest updates and insights on Wag! Group stock.
Wag! Group Co. reports developments across its pet-services, wellness, content, and digital commerce businesses for U.S. pet households. The company’s operating brands include the Wag! app for dog walking, sitting, boarding, drop-ins, training, and telehealth-related services, along with Petted, Dog Food Advisor, WoofWoofTV, and maxbone.
Company updates cover quarterly results by Services, Wellness, and Pet Food & Treats revenue categories; balance-sheet and debt actions; the completed sale of the Furscription veterinary e-prescription business; and capital-structure matters tied to Chapter 11 proceedings, delisting, and OTC trading status.
Wag! Group Co. (Nasdaq: PET), a platform for pet services, products, and wellness, has announced a proposed underwritten public offering of common stock. The offering is subject to market conditions, with no guarantee of completion or specific terms. Proceeds will be used to repay debt and for working capital. Craig-Hallum Capital Group is the sole managing underwriter. The offering is made under a shelf registration statement filed with the SEC. A preliminary prospectus supplement will be available on the SEC's website, with final terms disclosed in a subsequent filing. This announcement does not constitute an offer to sell or solicitation to buy securities.
Wag! Group Co. (Nasdaq: PET) has announced its preliminary unaudited results for Q2 2024, revealing revenues between $18.5 million and $19 million and a net loss ranging from $2.2 million to $2.4 million. Despite the loss, the company reported an adjusted EBITDA between $1.5 million and $1.7 million, marking a strong performance with an 8% adjusted EBITDA margin.
Wag! has over $16 million in cash and accounts receivable. Key initiatives, including AI and automation solutions, have led to a 10% reduction in headcount for 2024. The company also transitioned to a fully remote workforce and achieved a decrease in sales and marketing expenses from 67% to 59% of revenue quarter-over-quarter.
For the full year 2024, Wag! updated its guidance with revenue expectations between $92 million and $102 million, reflecting a 12% downturn from previous guidance. However, it forecasts an adjusted EBITDA of $4 million to $8 million, a 50% increase from prior expectations.
Wag! (Nasdaq: PET), a leader in pet services and products, announced participation in key investor events. CEO Garrett Smallwood and President Adam Storm will join a Fireside Chat at Lake Street Pet Day on June 4, 2024, and attend 1x1 meetings at the Wolfe Research Small and Mid-Cap Conference on June 6, 2024. Interested investors can reach out to their respective contacts or email PET@gateway-grp.com for more details. Wag!'s platform, launched in 2015, offers on-demand dog walking, pet sitting, and training services. The company also operates various pet-related platforms, including an insurance comparison marketplace and a popular pet food review site.
Wag! Group Co. (Nasdaq: PET) reported record first-quarter results for 2024, with a 13% increase in revenue to $23.2 million. The company achieved positive operating cash flow, paid down $5 million of debt principal, and saw an improvement in adjusted EBITDA to $0.2 million. Despite a net loss of $4.2 million, the CEO highlighted growth in both revenues and platform participants.
Wag! Group, listed on Nasdaq as PET, has introduced WeCompare.com, a new brand aimed at revolutionizing the insurance comparison sector. Leveraging their pet insurance experience, WeCompare will offer a comparison platform starting with auto insurance and expanding to include home, life, travel, and more. With a focus on technology, data-driven content, and user experience, WeCompare plans to cater to a broader audience and meet the demands of consumers and partners.
Wag! unveils the rebrand of Dog Food Advisor, the top pet food review site in the U.S., featuring an improved, user-friendly design with unbiased reviews and science-based content. The rebrand aims to enhance the pet food experience and strengthen partnerships with leading brands like Chewy and Ollie. Wag! also launches a white labeled Dog Food Calculator experience, providing personalized recommendations for pet parents. The acquisition of DFA by Wag! in January 2023 further solidifies their position in the pet care industry.
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