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), the largest online marketplace for pet care, will announce its third quarter 2022 financial results on November 7, 2022, after market close. Management will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and business outlook. A press release with detailed financial metrics will be made available on Rover's Investor Relations website prior to the call. Interested parties can access the live webcast and future replays through the company’s website.
Rover Group, the largest online pet care marketplace, announced its participation in two prominent investor conferences. The Goldman Sachs Communacopia & Technology Conference will be held on September 12, 2022, at 11:30 a.m. PT in San Francisco. Additionally, Rover will present at the Jefferies Pet Care & Wellness Conference on September 22, 2022, at 7:30 a.m. PT virtually. Live webcasts and archived presentations will be available on Rover's investor relations website.
Rover Group reported a 77% year-over-year revenue increase to $43.4 million for Q2 2022, alongside a 59% rise in gross booking value (GBV) to $212.8 million. Total bookings reached 1.4 million, up 35%, with new bookings up 14% and repeat bookings up 40%. The company anticipates Q3 2022 revenue between $46 - $48 million and full-year revenue of $160 - $166 million, reflecting a 48% expected increase. Adjusted EBITDA projections for the full year are between $10 - $14 million, influenced by macroeconomic factors.
Rover Group, Inc. (Nasdaq: ROVR) will release its second quarter 2022 financial results on August 4, 2022, after market close. A conference call and webcast will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and business outlook. The event will be accessible via a live call and webcast, with a replay available for 90 days. Rover aims to ensure broad distribution of its material information through various channels, including its investor relations website and social media.
Rover Group, Inc. (NASDAQ: ROVR) will be added to the Russell 3000®, Russell 2000®, and Russell Microcap® Indices after June 27, 2022. This marks a significant milestone for the company, enhancing its visibility among institutional investors and asset managers, as these indices cover a vast market worth approximately $12 trillion. The reconstitution, based on market capitalization, underscores Rover's growth since its public debut. CEO Aaron Easterly expressed confidence that this inclusion will aid in expanding partnerships and connecting with pet lovers more effectively.
Rover Group, Inc. (Nasdaq: ROVR), the leading online pet care marketplace, announced its participation in three upcoming investor conferences. Management will present at the Needham Technology & Media Conference on May 19, 2022, at 12:45 p.m. PT, followed by a fireside chat at the J.P. Morgan Global Technology, Media and Communications Conference on May 23, 2022, at 1:30 p.m. PT. The final event is the William Blair Annual Growth Stock Conference on June 7, 2022, at 6:40 a.m. PT. All presentations will be available via webcasts on Rover's investor relations website.
Rover Group reported a strong first quarter 2022 with revenue reaching $28 million, a 128% increase from Q1 2021. Gross bookings value (GBV) surged 137% to $154 million, and total bookings rose by 81% to 1.2 million. New bookings rose 76% year-over-year. Despite challenges from COVID, particularly the Omicron variant impacting demand, the company anticipates Q2 revenue between $41 million and $43 million. Full year revenue guidance is set at $160 million to $180 million, reflecting a 55% increase at the midpoint.
Zillow and Rover's recent survey highlights the influence of pets on housing decisions in the U.S. Over 72% of dog parents are open to relocating for their pets' needs, with more than half struggling to find dog-friendly rentals. Antioch, Tennessee, has been named the fastest-growing dog-friendly city, with dog-owner accounts increasing significantly. The survey indicates a strong trend among pet owners towards seeking properties that accommodate their pets, reflecting the growing importance of pet ownership in real estate.
Rover Group, Inc. (Nasdaq: ROVR) will announce its first quarter 2022 financial results on May 9, 2022, post-market close. A conference call and webcast will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss financial performance and business outlook. Rover, headquartered in Seattle, is the largest online pet care marketplace, connecting pet owners with services like boarding, daycare, and dog walking.
Rover Group, Inc. (NASDAQ: ROVR) announced the planned retirement of CFO Tracy Knox in December 2022, following a transition to her successor, Charlie Wickers, the current Vice President of Finance. Knox will serve as CFO until August 2022 before becoming an advisor until year-end. Wickers, with over 16 years in financial operations and experience in strategic finance at Rover, is expected to ensure a smooth leadership transition. This change highlights Rover's commitment to continuity in financial management.
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