Industry Focus - Pet Services - In Brazil, police dogs are also working as pet detectives [1] - These dogs help find lost pets, including cats and hamsters [1]

Core Viewpoint - Wag! Group Co. is pursuing a comprehensive balance sheet restructuring through a voluntary, pre-packaged Chapter 11 process to reduce debt and transition ownership to its primary secured lender, Retriever LLC, aiming for long-term success under private ownership [1][2][3] Group 1: Chapter 11 Process - The pre-packaged plan of reorganization is designed to be implemented on an accelerated basis, with Wag! expecting to emerge from Chapter 11 within approximately 40 days [2] - The plan requires approval from the U.S. Bankruptcy Court for the District of Delaware, and Wag! believes it has a clear path toward confirmation and emergence [4] Group 2: Financial Support and Operations - The company has secured debtor-in-possession (DIP) financing from Retriever LLC, which, along with cash generated from ongoing operations, is expected to provide liquidity during the court-supervised process [3] - Retriever LLC has committed to provide exit financing as part of the reorganization plan, reinforcing the company's path to a stable and well-capitalized emergence [3] Group 3: Company Overview - Wag! Group Co. aims to be the leading platform for the service, product, and wellness needs of modern U.S. pet households, having pioneered on-demand dog walking in 2015 [6] - The company operates several platforms, including Petted, Dog Food Advisor, WoofWoofTV, and maxbone, catering to various pet-related services and products [6]

Core Viewpoint - Wag! Group Co. has sold its Furscription business to MWI Veterinary Supply Co. to strengthen its financial position and focus on core offerings, reflecting ongoing efforts to maximize shareholder value [1][2][3] Group 1: Transaction Details - The Furscription business was sold for cash considerations, including the brand, e-prescribing technology, and related assets [2] - The transaction closed on July 14, 2025, and involved the transfer of four Wag! employees to MWI [2] Group 2: Strategic Implications - The CEO of Wag! expressed confidence in MWI's ability to enhance Furscription's market potential and emphasized the importance of this transaction in streamlining Wag!'s focus on services and wellness [3] - The sale is part of Wag!'s strategic review aimed at enhancing shareholder value and optimizing capital structure [3] Group 3: Company Background - Wag! Group Co. aims to be the leading platform for pet service, product, and wellness needs in the U.S., having pioneered on-demand dog walking in 2015 [4] - The company operates various platforms, including Petted, Dog Food Advisor, WoofWoofTV, and maxbone, catering to a wide range of pet-related services [4] Group 4: Furscription Overview - Furscription is a digital tool designed to streamline the prescription process for veterinarians, offering features like e-prescribing and prescription management [5] Group 5: MWI Veterinary Supply Co. - MWI is a global provider of veterinary products and services, focusing on innovative solutions that support veterinarians and animal healthcare [6]

Industry Trend - Pet detective services are utilized by wealthy pet owners in Brazil when their pets go missing [1]

Financial Data and Key Metrics Changes - The company reported a revenue of $15.2 million and an adjusted EBITDA loss of $1.2 million for Q1 2025, both showing a slight decline compared to Q4 2024 [11] - Total costs and expenses decreased by 25% year over year, amounting to over $6 million [11] - The company ended Q1 with $11.7 million in cash and cash equivalents and accounts receivable [13] Business Line Data and Key Metrics Changes - Revenue from services was $4.9 million, wellness was $9.2 million, and pet food and treats was $1.1 million in Q1 2025 [11] - Sales and marketing expenses were $10.4 million, which is within the historic range of 60% to 70% of revenue [12] Market Data and Key Metrics Changes - The company had 472,000 platform participants in the WAG ecosystem, reflecting a sequential quarter-over-quarter growth of 6% [11] Company Strategy and Development Direction - The company is focused on disciplined cost management and operational efficiencies, which have led to improved adjusted EBITDA despite a year-over-year decline in revenue [6] - Strategic partnerships with three major distribution partners are expected to enhance marketing positioning and drive growth in the insurance comparison business starting in Q2 [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum seen in early Q2 and emphasized a commitment to disciplined execution while growing efficiently [10] - The company remains focused on evaluating all strategic options to drive shareholder value [13] Other Important Information - The company is investing in AI and other technologies to optimize processes and systems, leading to increased efficiencies [12] - The board is evaluating potential options to improve the balance sheet and reduce debt [13] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded without further inquiries [14]

Core Insights - Wag! Group Co. reported financial results for Q1 2025, showing revenues of $15.2 million, a decrease from $23.2 million in Q1 2024, and a net loss of $4.9 million compared to a loss of $4.2 million in the same period last year [9][20]. Financial Performance - Revenues for Q1 2025 were $15.2 million, broken down into $4.9 million from Services, $9.2 million from Wellness, and $1.1 million from Pet Food & Treats [9]. - The net loss for Q1 2025 was $4.9 million, compared to a net loss of $4.2 million in Q1 2024 [9][20]. - Adjusted EBITDA loss was $1.2 million in Q1 2025, down from a positive Adjusted EBITDA of $0.2 million in Q1 2024 [9][25]. Operational Highlights - The company emphasized disciplined cost management and operational streamlining as key factors in its performance [3]. - Wag! is encouraged by early traction from newly launched distribution partnerships and positive business trends observed through April and into May [3]. Guidance - For the full year 2025, Wag! expects revenues to be in the range of $84 million to $88 million and Adjusted EBITDA to be between $2.0 million and $4.0 million [10]. Company Overview - Wag! Group Co. aims to be the leading platform for pet services, products, and wellness needs in the U.S. pet market, having pioneered on-demand dog walking in 2015 [8]. - The company operates various platforms, including Petted for pet insurance comparison and Dog Food Advisor for pet food reviews [8]. Key Metrics - As of March 31, 2025, the number of platform participants was 472, down from 671 in the previous year [27]. - The net cash provided by operating activities was $1.4 million for Q1 2025, compared to $0.2 million in Q1 2024 [28].

Company Overview - Wag! Group Co. aims to be the leading platform addressing the service, product, and wellness needs of modern U.S. pet households [3] - The company pioneered on-demand dog walking in 2015 with the Wag! app, which connects users to over 500,000 Pet Caregivers nationwide [3] - Wag! Group Co. operates several platforms including Petted (pet insurance comparison), Dog Food Advisor (pet food reviews), WoofWoofTV (pet content), maxbone (pet essentials), and Furmacy (pet prescriptions) [3] Financial Results Announcement - The company will report its first quarter 2025 financial results before the market opens on May 12, 2025 [1] - A conference call to discuss the financial results will be held at 8:30 a.m. Eastern Time on the same day [1] Investor Participation - Investors and analysts can participate in the conference call by dialing 800-717-1738 (or 1-646-307-1865 for international callers) approximately 10 minutes prior to the call [2] - A live audio webcast of the conference call will be available online, with a recorded replay accessible for 90 days after the call [2]