Wag! Group Co. ( (PET) ) has released its Q4 earnings. Here is a breakdown of the information Wag! Group Co. presented to its investors.
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Wag! Group Co. is a leading platform in the U.S. pet industry, offering services such as dog walking, pet insurance comparisons, and pet wellness products. The company is known for its innovative approach to meeting the needs of modern pet households.
In its latest earnings report, Wag! Group Co. announced a strategic review aimed at maximizing shareholder value through potential investments, partnerships, or transactions. The company also highlighted its financial results for the fourth quarter and full year of 2024, alongside strategic developments.
For the fourth quarter of 2024, Wag! reported revenues of $15.4 million, a decrease from the previous year’s $21.7 million, with a net loss of $4.8 million. The full year 2024 saw revenues drop by 16% to $70.5 million, with a net loss of $17.6 million. Despite these challenges, the company secured three new distribution partners and is leveraging AI to enhance its offerings.
Looking ahead, Wag! anticipates revenues between $84 million and $88 million for 2025, with an adjusted EBITDA ranging from $2.0 million to $4.0 million. The management remains optimistic about strengthening the balance sheet and exploring strategic alternatives to enhance shareholder value.