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Wag! Group Co. (PET) Reports Q3 Loss, Lags Revenue Estimates
PETWag! (PET) ZACKS·2024-11-13 14:36

Core Viewpoint - Wag! Group Co. reported a quarterly loss of 0.13pershare,significantlyworsethantheZacksConsensusEstimateofalossof0.13 per share, significantly worse than the Zacks Consensus Estimate of a loss of 0.04, marking an earnings surprise of -225% [1][2] Financial Performance - The company posted revenues of 13.2millionforthequarterendedSeptember2024,missingtheZacksConsensusEstimateby36.9713.2 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 36.97%, compared to 21.8 million in revenues a year ago [2] - Over the last four quarters, Wag! Group Co. has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is -0.03onrevenuesof0.03 on revenues of 26.15 million, and for the current fiscal year, it is -0.21onrevenuesof0.21 on revenues of 89 million [7] Stock Performance - Shares of Wag! Group Co. have declined approximately 62.6% since the beginning of the year, while the S&P 500 has gained 25.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Outlook - The Consumer Services - Miscellaneous industry, to which Wag! Group Co. belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8]