Wag! (US:PET)2025-03-24 13:31Financial Data and Key Metrics Changes - Q4 2024 results showed a sequential increase in platform participants, revenue, and adjusted EBITDA, all up greater than 17% quarter-over-quarter [17] - Full year 2024 revenues were $70.5 million, down 16% from $83.9 million in the previous year, with an adjusted EBITDA loss of $1.1 million compared to a profit of $0.7 million the previous year [18][19] - The company ended the year with $12.2 million in cash, cash equivalents, and accounts receivable [23] Business Line Data and Key Metrics Changes - Full year revenue breakdown: services at $21.6 million, wellness at $42.7 million, and pet food and treats at $6.2 million [19] - The wellness segment was significantly impacted by Q3 Google search trends but stabilized in Q4, contributing to the overall revenue performance [19] Market Data and Key Metrics Changes - The company signed three new major distribution partners expected to enhance demand in the Insurance Comparison business [10] - Stability in Google search trends was noted as a positive indicator for long-term customer acquisition efforts [12][15] Company Strategy and Development Direction - The company is focused on enhancing product offerings and driving cross-sell opportunities across its portfolio [14] - There is an ongoing strategic review process aimed at identifying opportunities to enhance shareholder value [8][9] - The integration of AI into business operations is a priority to optimize processes and improve efficiencies [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the business and the ability to execute the strategic plan despite a dynamic operating environment [9][14] - The guidance for 2025 anticipates revenue in the range of $84 million to $88 million and adjusted EBITDA between $2 million and $4 million [24] Other Important Information - The company is committed to a disciplined approach in evaluating potential paths forward as part of the strategic review [24] Q&A Session Summary Question: Clarification on 2025 revenue guidance and growth segments - Management indicated that the primary driver for revenue growth in 2025 will be the wellness segment, with some contribution from services [29] Question: Tracking of Q1 revenue - Management noted that Q1 is trending well, with expectations for sequential growth primarily driven by new partnerships in the wellness category [33] Question: Cost structure and optimization - Management acknowledged room for additional optimization in G&A costs and emphasized the use of AI to manage costs effectively [37]