Wag! (US:PET)2025-05-12 13:32Financial 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 [6][12] - Total costs and expenses decreased by 25% year over year, amounting to over $6 million [12] - The company ended Q1 with $11.7 million in cash and cash equivalents and accounts receivable [14] 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 [12] - Sales and marketing expenses were $10.4 million, which is within the historic range of 60% to 70% of revenue [13] Market Data and Key Metrics Changes - The company had 472,000 platform participants in the WAG ecosystem, reflecting a sequential growth of 6% quarter over quarter [12] 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 revenue decline [6][7] - Strategic partnerships with three major distribution partners are expected to enhance marketing positioning and drive growth in the insurance comparison business starting in Q2 2025 [7][10] 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][11] - The company remains committed to evaluating all strategic options to drive shareholder value [14] Other Important Information - The company is investing in AI and other technologies to optimize processes and systems, leading to increased efficiencies [13] - The board is evaluating potential options to improve the balance sheet and reduce debt [14] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with closing remarks from the CEO [15][16]