Wag! Group Co. - PET STOCK NEWS

Wag! Group Co. (Nasdaq: PET) reported its Q2 2024 financial results. The company achieved a record quarterly Adjusted EBITDA of $1.6 million, up from $0.1 million in Q2 2023. Despite this, revenues decreased by 6% to $18.7 million. The net loss improved to $2.3 million from $3.9 million in the same period last year. Business highlights include 467,000 platform participants, down from 549,000 in Q2 2023.

Recent actions include an $8.6 million public offering to be used for debt repayment. For Q3 2024, the company expects revenue between $20 million and $24 million and Adjusted EBITDA between $1.5 million and $2.5 million. For the full year 2024, revenue is projected to be between $92 million and $102 million, with Adjusted EBITDA in the range of $4 million to $8 million.

Wag! (Nasdaq: PET) will report its second quarter 2024 financial results on August 7, 2024, after market close. The company aims to be the leading platform for the service, product, and wellness needs of modern U.S. pet households. A conference call to discuss these results will occur at 4:30 p.m. ET. Investors and analysts can join the call by dialing 800-717-1738 (international: 1-646-307-1865) 10 minutes before the call. A live audio webcast will be accessible online at https://investors.wag.co/. A recorded replay will be available online approximately three hours after the call and can be accessed for 90 days.

Wag! Group Co. (Nasdaq: PET), a platform for pet services, products, and wellness, has announced the pricing of its public offering of 7,407,407 shares of common stock at $1.35 per share. The offering is expected to raise $10 million in gross proceeds. Wag! plans to use the net proceeds to repay approximately $8.5 million of debt, with the remainder for working capital and general corporate purposes. The offering is set to close around July 18, 2024, subject to customary conditions. Craig-Hallum is acting as the sole managing underwriter. The offering is made pursuant to a shelf registration statement filed with the SEC, with a final prospectus supplement to be filed.

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.