Welcome to our dedicated page for Rover Group news (Ticker: ROVR), a resource for investors and traders seeking the latest updates and insights on Rover Group stock.
Rover Group, Inc. (Nasdaq: ROVR) is a leading American company in the pet care industry, offering an extensive online marketplace for pet care services. Founded in 2011 in Seattle, Washington, Rover.com provides a platform for pet parents to connect with pet care providers. The services include pet sitting, dog boarding, dog walking, and doggy daycare. The company aims to simplify pet care, making it easier for pet owners to find trustworthy and loving caregivers.
Rover has established itself as the world’s largest online marketplace for pet care, with over 93 million services booked by more than 4 million pet parents. The platform hosts over 1 million pet care providers across North America and Europe. Services are easily accessible through Rover’s website and mobile app, allowing pet parents to discover, book, pay, and review pet care providers efficiently.
Rover recently announced a significant partnership with Blackstone, a global investment firm. This partnership is expected to accelerate Rover’s growth, enabling increased investments and expansion of its global footprint. Under the terms of the agreement, Rover stockholders will receive $11.00 per share in cash, representing a 61% premium over the 90-trading-day volume-weighted average price. The transaction is anticipated to close in the first quarter of 2024, transitioning Rover into a privately held company while maintaining its existing brand and operations.
Rover’s financial health and strategic partnerships position it well for continued growth. The company uses various channels such as SEC filings, press releases, public conference calls, and webcasts to communicate material information to the public. Furthermore, Rover actively engages with its audience through social media platforms like Twitter, LinkedIn, and YouTube.
For investors and stakeholders interested in the latest updates and financial performance, Rover’s Investor Relations website provides comprehensive resources, including earnings releases, investor presentations, and non-GAAP reconciliation supplements.
To learn more about Rover and its services, visit their website at rover.com.
Rover Group, Inc. (Nasdaq: ROVR) announced it will reveal its first quarter 2023 financial results on May 8, 2023, after market close. Following the results, a conference call and webcast will be held at 1:30 p.m. PT (4:30 p.m. ET) to discuss the financial outcomes and provide insight into recent developments and business outlook. Interested parties can register for the call and access the financial results via Rover's Investor Relations website. This upcoming financial report is expected to inform investors about the company's performance and future strategies as the pet care market continues to evolve.
Rover (Nasdaq: ROVR) has launched Rover Gear, its first branded collection of pet walking products, aimed at enhancing safety and comfort for dogs and their owners. The walking collection includes the Better Walk™ No-Pull Dog Harness, Essential Dog Walking Leash, and Bag Buddy Hands-Free Poo Carrier, priced between $9.99 to $32.99. Designed with insights from pet experts and dog walkers, these products emphasize durability and user-friendliness. Rover aims to address the needs of both novice and experienced pet parents, expanding its market presence in the pet care industry.
Rover, the world's largest online pet care marketplace, announced its participation in two key investor conferences in March 2023. The JMP Technology Conference is scheduled for March 7, where Rover's presentation will occur at 1:30 p.m. PT. The following day, March 8, Rover will present at the Morgan Stanley Technology, Media & Telecom Conference at 2:40 p.m. PT. Both presentations will be available via live webcast on Rover's investor relations website, with replay options accessible for at least 90 days. Rover encourages investors to follow its various communication channels for the latest updates.
Rover Group reported significant financial growth in 2022, with revenue increasing 58% year-over-year to $174.0 million and gross booking value (GBV) up 53% to $798.4 million. In Q4 alone, revenue rose 37% to $52.0 million, while total bookings climbed 20% to 1.4 million. The company announced a $50 million share repurchase program amid strong operational performance, including record new customer acquisition. However, they anticipate a net loss of $(5) - $(3) million in Q1 2023, alongside guidance of $205 - $215 million in annual revenue for 2023, reflecting a 21% increase at the midpoint.
Rover Group, Inc. (Nasdaq: ROVR) will release its fourth quarter and full year 2022 financial results on February 27, 2023, after market close. A conference call will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results, recent developments, and the company's business outlook. Investors can register for the call or access a live webcast via Rover's Investor Relations website. The press release with financial results will be available on the website prior to the call. A replay of the webcast will also be accessible for 90 days post-event.
Rover Group, Inc. (NASDAQ: ROVR) reported significant financial growth for Q3 2022, with revenue increasing 45% year-over-year to $50.9 million. The gross booking value reached $213.7 million, up 36%. Total bookings grew 18% to 1.5 million. The company experienced a net loss of $15.5 million, an improvement from a loss of $84.5 million in Q3 2021. Looking forward, Rover raised its revenue guidance for 2022 to a range of $171 - $173 million, reflecting confidence despite potential macroeconomic challenges.
FAQ
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What services does Rover Group, Inc. provide?
When was Rover Group, Inc. founded?
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What recent partnership has Rover announced?
Will Rover continue to operate under its current name after the Blackstone partnership?
How does Rover communicate updates to the public?
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What is the expected closing date of the Blackstone transaction?
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