Wag Group Co (NAS:PET)
$ 0.24 -0.0251 (-9.47%) Market Cap: 11.50 Mil Enterprise Value: 24.73 Mil PE Ratio: 0 PB Ratio: 4.62 GF Score: 15/100
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Q3 2024 Wag! Group Co Earnings Call Transcript

Nov 13, 2024 / 01:30 PM GMT
Release Date Price: $0.21 (-67.98%)

Key Points

Positve
  • Wag Group Co (PET) reported a strong recovery in wellness revenue, with a 79% month-over-month growth in October.
  • The company successfully paid down $5 million in debt during the third quarter, reducing interest expenses by $0.5 million in the fourth quarter.
  • Wag Group Co (PET) is actively exploring asset sales to address debt issues, which could benefit the company and shareholders.
  • The company is launching a new prescription management software for the veterinary industry in Q1 2025, which has attracted significant interest.
  • Despite challenges, the underlying metrics of Wag Group Co (PET)'s business lines remain strong, with new user cohorts reaching all-time highs for lifetime value.
Negative
  • Wag Group Co (PET) experienced a 39% year-over-year decline in revenue for Q3, totaling $13.2 million.
  • The company faced a challenging marketing environment, leading to inefficient marketing spend and increased customer acquisition costs.
  • Adjusted EBITDA decreased to a loss of $1.9 million, impacted by lower revenue and non-recurring expenses.
  • Google's changes to search engine results negatively affected Wag Group Co (PET)'s visibility and conversions, impacting their wellness business.
  • The company had to reduce headcount by nine positions in Q4 2024 to manage costs and increase profitability.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PET.OQ - Wag! Group Co
Q3 2024 Wag! Group Co Earnings Call
Nov 13, 2024 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the Wag third quarter, 2024 earnings conference call at this time. All participants are in a listen-only mode. A brief question and answer session will follow the formal presentation.

If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I'll now introduce your host, Greg Robles with investor relations. Thank you and you may begin.

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Unidentified_2 [2]
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Good morning everyone and thank you for joining Wags conference call
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