Wag! Group Co. Stock Price, News & Analysis

Wag! Group Co. (Nasdaq: PET) is a pet-focused company that, according to its public disclosures, strives to be the number one platform to address the service, product, and wellness needs of the modern U.S. pet household. The company has stated in multiple investor and press materials that it pioneered on-demand dog walking in 2015 with the Wag! app, which offers access to 5-star dog walking, sitting, and one-on-one training from a community of over 500,000 Pet Caregivers across the United States.

In addition to its core pet services marketplace, Wag! Group Co. reports that it operates several pet-related digital businesses. These include Petted, described as one of the nation’s largest pet insurance comparison marketplaces; Dog Food Advisor, described as one of the most visited and trusted pet food review platforms; WoofWoofTV, a multi-media company bringing pet content to over 18 million followers across social media; maxbone, a digital platform for modern pet essentials; and Furmacy, software designed to simplify pet prescriptions. Through these operations, the company positions itself as serving both day-to-day pet care needs and broader wellness and product discovery for pet households.

Business focus and segments

Across its public earnings releases, Wag! Group Co. organizes its activities into revenue streams it labels Services, Wellness, and Pet Food & Treats. Services revenue is associated with offerings such as dog walking, sitting, boarding, drop-ins, training, premium telehealth services, wellness plans, and pet insurance plan comparison, as described in the company’s definition of a Platform Participant. Wellness and Pet Food & Treats revenue streams are tied to pet wellness offerings and pet food-related activities referenced in its financial disclosures. This structure reflects a mix of service-based and digital platform activities centered on pet care and pet-related products.

The company defines a Platform Participant as a Pet Parent or Pet Caregiver who transacted on the Wag! platform for a service in a given quarter. Services include dog walking, sitting, boarding, drop-ins, training, premium telehealth services, wellness plans, and pet insurance plan comparison, according to the non-GAAP and operating metrics sections of its earnings releases. This definition underscores the company’s focus on connecting pet owners with caregivers and related services through its platform.

Digital brands and pet ecosystem

Wag! Group Co. highlights a portfolio of digital brands that extend beyond the original Wag! app. Petted is described in company materials as one of the nation’s largest pet insurance comparison marketplaces, indicating a focus on helping pet owners compare insurance options. Dog Food Advisor is characterized as a widely visited pet food review platform, which the company describes as trusted by users researching pet food. WoofWoofTV is presented as a multi-media company bringing pet content to over 18 million followers across social media, reflecting a social and media presence around pet-related content. Maxbone is described as a digital platform for modern pet essentials, and Furmacy is described as software to simplify pet prescriptions.

In certain disclosures, Wag! also referenced a software and business for veterinary e‑prescriptions referred to as Furscription. An asset purchase agreement filed on Form 8‑K describes the sale of the Furscription business, including its e‑prescribing technology and related assets, to MWI Veterinary Supply Co. for cash consideration. The company stated that proceeds from that transaction would be used to repay indebtedness under its financing agreement.

Capital structure, listing status, and reorganization

Wag! Group Co. has reported that its common stock and warrants were originally listed on The Nasdaq Global Market under the symbols PET and PETWW. A Form 8‑K dated July 28, 2025, discloses that Nasdaq determined the company’s common stock and warrants would be delisted from the Nasdaq Capital Market, with trading suspended at the opening of business on July 30, 2025, and a Form 25‑NSE to be filed to remove the securities from listing and registration on Nasdaq. The same filing states that, after delisting, the company’s common stock and warrants were expected to commence trading on the Pink Open Market operated by OTC Markets Group.

A subsequent Form 8‑K dated September 4, 2025, describes the company’s Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. According to that filing, on August 29, 2025, the Bankruptcy Court entered an order confirming the First Amended Joint Prepackaged Plan of Reorganization of Wag! Group Co. and certain affiliates, and on September 1, 2025, the plan was substantially consummated. The filing states that, as of substantial consummation, all shares of common stock and other equity interests in the company were cancelled and extinguished. It further states that Retriever LLC, identified as the pre‑bankruptcy secured creditor and sole Class 3 claimant, was issued 1,000 shares of common stock representing 100% of the equity in the reorganized company and $5,000,000 principal amount of new notes, while all other classes of creditors were described as unimpaired under the plan.

Earlier, a Form 8‑K dated July 21, 2025, reported that Wag! Group Co. and certain subsidiaries commenced voluntary cases under Chapter 11 of the U.S. Bankruptcy Code and proposed a joint prepackaged plan of reorganization. That filing explains that the debtors intended to continue operating their businesses as debtors‑in‑possession, subject to Bankruptcy Court approval, and describes a proposed debtor‑in‑possession financing facility and an exit facility, both involving Retriever LLC as lender. It also notes that, subject to court approval, an investment agreement contemplated that Retriever would receive 100% of the shares of common stock of the reorganized company and $5.0 million principal amount of term notes, and that all existing equity interests, including common stock and warrants, would be cancelled.

Financial reporting and metrics

Wag! Group Co. has filed quarterly and annual financial statements with the U.S. Securities and Exchange Commission, including condensed consolidated balance sheets, statements of operations, and statements of cash flows. These filings present information on revenues, costs and expenses, interest expense, net loss, and other financial metrics. The company also reports non‑GAAP measures such as Adjusted EBITDA and Adjusted EBITDA margin. In its disclosures, Adjusted EBITDA is defined as net income (loss) adjusted for interest expense, net; income taxes; depreciation and amortization; stock‑based compensation; and certain non‑recurring or transaction‑specific items, including integration and transaction costs associated with acquired businesses, severance costs, loss on extinguishment of debt, and legal settlements.

The company’s earnings releases and SEC filings emphasize that Adjusted EBITDA and Adjusted EBITDA margin are non‑GAAP financial measures and are not measures of financial performance or liquidity under U.S. GAAP. They are presented as supplemental metrics that exclude items the company does not consider indicative of its core operating performance. The filings also note that reconciliations of certain forward‑looking non‑GAAP measures to the most directly comparable GAAP measures may be unavailable without unreasonable effort, due to the difficulty of predicting some components.

Corporate actions and strategic review

In a press release and related Form 8‑K dated March 24, 2025, Wag! Group Co. announced that its Board of Directors was advancing a review of strategic alternatives, including potential investments, strategic partnerships, sale, merger, or other strategic transactions involving the company or its assets. Subsequent filings in July 2025 state that this review did not result in a strategic alternative transaction sufficient to satisfy the company’s obligations under its financing agreement. The company disclosed that it engaged in negotiations with its secured lender, Retriever LLC, regarding satisfaction of those obligations and that, absent a successful outcome, it might be forced to take actions such as seeking protection under bankruptcy laws, which it later did.

The company also disclosed capital markets activity. A press release dated July 17, 2024, describes an underwritten public offering of shares of common stock, with stated gross proceeds and an intention to use net proceeds primarily to repay indebtedness, with any remainder for working capital and general corporate purposes. The offering was conducted pursuant to an effective shelf registration statement on Form S‑3 and related prospectus supplements.

Status of legacy PET common stock

For investors researching the historical PET ticker, the September 4, 2025 Form 8‑K states that, upon substantial consummation of the confirmed plan of reorganization on September 1, 2025, all pre‑bankruptcy common stock and other equity interests in Wag! Group Co. were cancelled and extinguished. The same filing explains that 100% of the equity in the reorganized company was issued to Retriever LLC. Earlier disclosures also caution that recent trading prices for the company’s securities did not reflect the pending cancellation of these securities pursuant to the Chapter 11 cases. As a result, the historical PET common stock represents cancelled equity interests following the reorganization, according to the company’s own SEC filings.