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Rover Group reported a record Q2 2021 with gross bookings value (GBV) of $134 million, its highest quarter ever. New bookings surged to approximately 228,000 at an average acquisition cost of $9. The company narrowed its net loss to $2.8 million from $12 million while achieving positive adjusted EBITDA of $2.5 million. Rover raised its full-year revenue guidance to $102-$110 million, reflecting ongoing recovery in the pet care market amid the pandemic.
Rover Group, Inc. (Nasdaq: ROVR) began trading on Nasdaq following its merger with Nebula Caravel Acquisition Corp., securing approximately $270 million in gross proceeds. As the largest online pet care marketplace, Rover boasts over 500,000 pet care providers across North America and Europe. The company reported significant post-pandemic recovery, highlighted by June 2021's record-breaking bookings of 421,000 and a Gross Bookings Value of $56.6 million. Rover will release its Q2 2021 earnings on August 9, 2021, showcasing promising growth potential.
Rover Inc. reported record-breaking performance for June 2021, achieving a gross bookings value (GBV) of $56.6 million, a 36% growth versus June 2019. Total bookings were approximately 421,000, and new bookings reached 99,000, both marking all-time highs for the company. In Q2 2021, total bookings reached ~1.08 million, a slight increase from Q2 2019. Recovery is evident across U.S. states, with California and New York showing growth of 14% and 22%, respectively. The company is on track for further growth, supported by a merger with Nebula Caravel Acquisition Corp.
Rover, the largest online marketplace for pet care, announced that CEO Aaron Easterly and CFO Tracy Knox will speak at the Wells Fargo ‘Bricks to Clicks’ Digital Conference on June 23, 2021. They will also engage in one-on-one meetings with institutional investors. The company recently agreed to a merger with Nebula Caravel Acquisition Corp., valuing Rover at approximately $1.35 billion. Founded in 2011, Rover connects pet owners with trusted pet care services. For more information, visit rover.com.
Rover achieved its highest gross bookings value in May 2021 at $45.4 million, an 18% increase from May 2019. With approximately 367,000 total bookings and a new customer acquisition of about 75,000, Rover is experiencing a recovery in demand as pet owners resume normal activities. The company also raised its 2021 revenue projection to $100-$105 million and adjusted EBITDA forecast to a loss range of ($2)-($7 million), both improvements over earlier estimates. While U.S. bookings surged, international recovery remains slower.
Rover reported strong Q1 2021 results with gross bookings value at $65 million, a 67% year-over-year increase. Total revenue was $12.2 million, down from $17.0 million. New bookings reached ~102,000 at an average customer acquisition cost of $7. The company noted significant month-over-month growth in key states: California (45%), Florida (42%), New York (44%), and Texas (69%). Adjusted EBITDA improved 64% year-over-year, indicating a streamlined cost structure. Rover expects to capture growing pet care demand as vaccinations rise.
A Place for Rover, the leading platform for pet sitting and dog walking, announced upcoming investor conferences featuring Co-Founder & CEO Aaron Easterly and CFO Tracy Knox.
Key Events:
- Needham Virtual Technology & Media Conference on May 18, 2021, at 8:45 a.m. PT.
- Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 1:00 p.m. PT.
A business combination with Nebula Caravel Acquisition Corp will value Rover at approximately $1.350 billion.
Rover.com, the leading online marketplace for pet care, reported a strong rebound in demand for pet services in Q1 2021, fueled by the return to travel and an increase in pet ownership. March 2021's Gross Booking Volume rose by 67% compared to 2020, nearing pre-pandemic levels. The company noted significant growth in new bookings, particularly for puppies, with a 64% increase in daycare services. Major states like Texas and California saw month-over-month booking increases of up to 69%. Rover's data reflects a promising recovery trajectory as pet parents seek reliable care for their furry companions.