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 reported a 41% increase in fourth quarter revenue to $38 million, marking its largest revenue quarter ever. Gross bookings value (GBV) rose 44% to $166 million. New bookings increased 30% to 215,000. Despite Omicron-related cancellations, the company achieved a GAAP net income of $33.9 million, contrasting with a $13.4 million loss in the prior year. For full year 2021, revenue climbed 16% to $109.8 million, but GAAP net loss deepened to $64 million. Looking ahead, Rover anticipates 2022 revenue between $160 and $180 million, representing a 55% increase.
Rover Group (Nasdaq: ROVR), the leading online pet care marketplace, will participate in multiple investor conferences in March 2022. Key events include the JMP Securities Technology Conference on March 8 at 2:00 p.m. PT, the Morgan Stanley Technology, Media & Telecom Conference on March 9 at 4:45 p.m. PT, and the D.A. Davidson Consumer Growth Conference on March 10, which will feature one-on-one meetings. Live webcasts of the fireside chats will be accessible on Rover's investor relations website.
Rover Group, Inc. (Nasdaq: ROVR), the leading online pet care marketplace, will announce its fourth quarter and full year 2021 financial results after market hours on March 7, 2022. A conference call and webcast to discuss the results and business outlook will be held on the same day at 1:30 p.m. PT (4:30 p.m. ET). Interested parties can access the live call via toll-free numbers or join the webcast on Rover’s investor relations site. A replay will be available for 90 days after the event.
Rover Group, Inc. (ROVR) confirms its fiscal 2021 revenue guidance of $106 - $110 million despite a 16% increase in cancellation rates during Q4 2021 due to COVID-19. This announcement follows a recent update about management's participation at the 24th Annual Needham Virtual Growth Conference on January 14, 2022. Rover is set to release its full fiscal fourth quarter and year results in March 2022. The company emphasizes the preliminary nature of its revenue guidance, which is subject to audit and could change.
Rover Group, Inc. (NASDAQ: ROVR) announced that approximately 4.9 million of its 8.1 million outstanding warrants have been exercised as of January 10, 2022. The company reminded warrant holders that approximately 3.2 million warrants not exercised by the redemption date of January 12, 2022, will be redeemed at $0.10 each. Rover's Class A common stock warrants (NASDAQ: ROVRW) will continue to trade until the close of business on the redemption date. This press release does not constitute an offer for the sale of securities.
Rover Group (NASDAQ: ROVR), the world's largest online marketplace for pet care, will present at the 24th Annual Needham Virtual Growth Conference on January 14, 2022, at 9:30 AM PT. The event will include a fireside chat featuring management and will be accessible via live webcast and archived replay on Rover's investor relations site. Founded in 2011 and based in Seattle, Rover connects pet owners with service providers for various pet care services including boarding, dog walking, and daycare. For more information, visit http://www.rover.com.
Rover Group, Inc. (NASDAQ: ROVR) issued a corrected press release regarding the Redemption Fair Market Value for its outstanding Warrants. The updated value is now set at $10.14 instead of the previously reported $10.12. Holders exercising their Warrants on a cashless basis will receive 0.2558 shares of Class A Common Stock per Warrant.
The redemption is scheduled for January 12, 2022, after which unexercised Warrants will be void, with holders entitled to a redemption price of $0.10 per Warrant.
Rover Group, Inc. (NASDAQ: ROVR), the leading online marketplace for pet care, has announced the Redemption Fair Market Value of $10.12 for its outstanding Warrants. This value will guide the cashless exercise of Warrants before the Redemption Date on January 12, 2022. Warrant holders can convert their Warrants into Class A common stock at a rate of 0.2544 shares per Warrant. Unexercised Warrants post-Redemption will be void and redeemable only for $0.10 each. The announcement follows Rover's December 13 redemption notice detailing these terms.
On December 13, 2021, Rover Group, Inc. (NASDAQ: ROVR) announced the redemption of all outstanding public warrants by 5:00 p.m. NYC time on January 12, 2022, at a price of $0.10 per warrant. This redemption follows the issuance conditions established during its IPO. Rover fulfilled the share price requirements for warrant redemption, having met the $10.00 threshold and a 20-day average below $18.00. Holders can exercise warrants on a cashless basis until the deadline. Unexercised warrants will become void after the redemption date.
Rover Group, Inc. (NASDAQ: ROVR) has completed a public offering of 6,900,000 shares of its Class A common stock at $10.00 per share. This includes the exercise of an underwriters’ option to purchase an additional 900,000 shares. The offering was conducted by selling stockholders, meaning Rover will not receive any proceeds. The offering was managed by Morgan Stanley, Goldman Sachs, and J.P. Morgan. The registration statement was declared effective on November 18, 2021. The prospectus can be obtained from the lead underwriters.
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