Wag! Reports Fourth Quarter and Full Year 2024 Results; Announces Review of Strategic Alternatives to Maximize Shareholder Value

Core Viewpoint - Wag! Group Co. announced its financial results for Q4 and full year 2024, highlighting a strategic review process to maximize shareholder value through potential investments, partnerships, or other transactions [1][2]. Financial Performance Fourth Quarter 2024 Results - Revenues were $15.4 million, down from$21.7 million in Q4 2023, with $5.3 million from Services,$8.9 million from Wellness, and 1.2 million from Pet Food & Treats [7]. - Net loss increased to 4.8 million from $3.5 million in Q4 2023 [7]. - Adjusted EBITDA loss was$1.0 million, compared to breakeven in Q4 2023 [7]. Full Year 2024 Results - Total revenues decreased by 16% to $70.5 million from$83.9 million in 2023, with $21.6 million from Services,$42.7 million from Wellness, and 6.2 million from Pet Food & Treats [7]. - Net loss for the year was 17.6 million, compared to a net loss of $13.3 million in 2023 [7]. - Adjusted EBITDA loss was$1.1 million, down from a positive $0.7 million in 2023 [7]. Guidance for 2025 - The company expects revenues in the range of$84 million to $88 million and Adjusted EBITDA between$2.0 million and $4.0 million for the full year 2025 [7]. Strategic Initiatives - The company is focused on strengthening its balance sheet and reducing debt, with a disciplined approach to strategic alternatives [2]. - The addition of three major distribution partners is expected to accelerate demand for Wellness products [4]. Operational Metrics - As of December 31, 2024, the number of platform participants was 445, down from 600 in 2023 [23]. - The net loss margin for Q4 2024 was 31.2%, compared to 16.0% in Q4 2023 [23]. - Adjusted EBITDA margin for Q4 2024 was -6.2%, compared to 0% in Q4 2023 [23].