Wag! Group Co. reported its financial results for the fourth quarter and full year ended December 31, 2024. For the full year 2024, revenue was $70.5 million, marking a 16% decrease from $83.9 million in 2023. The full-year Adjusted EBITDA loss widened to $1.1 million, compared to a $0.7 million profit in 2023.
In the fourth quarter of 2024, the company reported revenues of $15.4 million and an Adjusted EBITDA loss of $0.96 million. These figures represented sequential improvements from the third quarter of 2024. Operational efficiencies included a headcount streamlining of 9 positions in Q4 2024, targeting at least $2 million in annualized cost reductions.
Concurrently with its earnings report, the company announced that its Board of Directors is advancing a review of strategic alternatives. This review aims to identify opportunities to maximize shareholder value. Potential alternatives include investments, strategic partnerships, a sale, merger, or other transactions involving the company or its assets.
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