Wag! (PET)2025-05-12 13:30Financial Data and Key Metrics Changes - The company reported a revenue 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 11.7 million in cash and cash equivalents and accounts receivable [13] Business Line Data and Key Metrics Changes - Revenue from services was 9.2 million, and pet food and treats was 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]