ROVER GROUP, INC.

investors.rover.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 8, 2023. Its latest SEC filing is a 15-12G from Mar 8, 2024.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Connects pet parents with pet care providers through an online marketplace for overnight stays, daytime care and dog training.

How Did They Make Money?

Rover charges pet parents and pet care providers a percentage fee on each booking. Pet parents pay when booking; Rover earns its fee after the cancellation period ends and the service begins.

FY2022 revenue

Who Were Their Customers?

Pet parents book services directly through Rover’s online marketplace or app, choosing pet care providers. Providers also use Rover to list services, manage bookings and receive payment.

Did Revenues Turn Into Profits?

Not on paper. It lost $22M in FY2022, but brought in more cash than it spent: $1M of free cash flow.

Operating income, FY2022

−17% of revenue

▲ +74% (Loss) vs FY2021 (−$17.2M, −16%)

Net income, FY2022

−13% of revenue

▼ −66% (Loss) vs FY2021 (−$64M, −58%)

Free cash flow, FY2022

1% of revenue

▼ −92% vs FY2021 ($13.5M, 12%)

How Were They Changing?

Since the FY2022 annual report

Latest quarter: Q3 FY2023, the three months to Sep 30, 2023

Revenue: ▲ +30%; vs $50.9M in Q3 FY2022
Net income: ▲ Now profitable; vs −$15.5M in Q3 FY2022

Feb 27, 2024 Rover completed its merger Common shares were canceled and converted into a right to receive the merger consideration.
Nov 6, 2023 Rover raised its full-year revenue and adjusted EBITDA guidance Rover forecast revenue of $230 - $232 million and adjusted EBITDA of $46 - $48 million.

Grew. Revenue grew 83% in 3 years, from $95.1M in FY2019 to $174M in FY2022, about 22% a year.

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