<div>
  <ul>
    <li>
      <p>
        Rover, an on-demand pet care service, reported a GAAP net income per share of USD 0.19 in Q4 2021 (compared with a GAAP net loss of USD 0.28 per share in Q4 2020), beating analyst expectations of a net loss per share of USD 0.02. This was primarily due to the growth in Rover&rsquo;s topline, which resulted in the operating loss narrowing by 29.4% YoY to USD 5.6 million in Q4 2021 as well as due to a favorable USD ~40 million non-cash fair value adjustment related to earnout and warrant liabilities. However, for the full year 2021 (FY2021), the company reported a net loss per share of USD 0.72.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Revenue grew 188.6% YoY to USD 38 million in Q4 2021, beating analyst expectations. This was supported by growth in gross booking value (GBV) reaching an all-time high of USD 166 million (up 192.8% YoY) in Q4 2021. Total booking increased by 117% YoY to 1.2 million in Q4 2021, which comprises new bookings (up 156% YoY) and repeat bookings (up 110.1% YoY). For FY2021, revenue grew 125.1% YoY to USD 109.8 million, broadly in line with the guidance range of USD 106 million&ndash;USD 110 million provided in Q3 2021.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        The adjusted EBITDA was USD 7.6 million in Q4 2021 (vs. adjusted EBITDA loss of USD 3.1 million in Q4 2020), recording Rover&rsquo;s third consecutive quarter of positive adjusted EBITDA, corresponding to an adjusted EBITDA margin of 20% in Q4 2021, compared to -23% in Q4 2020. For FY2021, the company reported an adjusted EBITDA of USD 12.4 million (vs. an adjusted EBITDA loss of USD 25 million in FY2020).&nbsp;&nbsp;&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        The company&rsquo;s full-year revenue guidance for 2022 ranges between USD 160 million and USD 180 million (46%&ndash;64% YoY growth) and the adjusted EBITDA is estimated to range between USD 17 million and USD 21 million (37%&ndash;69% YoY growth). However, the firm's forward guidance was below analyst expectations, which may account for the 17% dip in Rover&rsquo;s share price following the release of quarterly earnings.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake:</b>
     While the firm&rsquo;s forward guidance was below analyst expectations, its strong revenue performance in Q4 2021, supported by growth in both bookings and GBV (recording 44% and 30% growth compared with pre-pandemic levels in Q4 2019), signals a sustained rebound in the firm&rsquo;s performance, which was impacted by Covid-19 pandemic. The firm is also likely to leverage its collaboration with Petco to drive growth in 2022.&lt;/ul&gt;
  </p>
</div>


<div>
  <p>
    <a href="https://investors.rover.com/news-releases/news-release-details/rover-reports-fourth-quarter-and-full-year-2021-financial">
      News release
    </a>
  </p>
</div>


Pet Care Tech

Rover posts robust Q4 performance; beating consensus estimates

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PROMINENT_CATEGORY

Several companies in the pet healthcare industry have recently secured funding and made significant announcements. Wagmo raised $8.9 million in funding, bringing their total funds raised to $24.5 million. Companion Protect raised $27 million in a funding round, which will be used to expand their products and partnerships and improve digital claims processing. TeleVet rebranded as "Otto" and raised $43 million in funding, reporting significant growth. BetterVet launched a new brand look, website, and app to enhance the client experience and introduced their "WHOLE Pet" philosophy. Modern Animal is expanding its network of veterinary clinics and has appointed new executives to support growth.

Monthly News Summary (August 2023)

Monthly News Summary (June 2023)

Monthly News Summary (May 2023)

Monthly News Summary (February 2023)

Monthly News Summary (January 2023)

Small Door secures USD 40 million in Series B funding to expand into new locations

Odie raises USD 3 million in funding

Vetster launches mobile app for veterinarians working remotely

BetterVet raises USD 40 million in Series A funding

Wag! post strong Q3 2022 top line growth; upgrades FY2022 guidance

All Updates