Announcement • Mar 09
Rover Group Files Form 15 Rover Group, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Class A Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Class A Common Stock was $0.0001 per share. Price Target Changed • Nov 29
Price target increased by 19% to US$8.96 Up from US$7.54, the current price target is an average from 7 analysts. New target price is 18% below last closing price of US$10.96. The company is forecast to post earnings per share of US$0.096 next year compared to a net loss per share of US$0.12 last year. Recent Insider Transactions Derivative • Nov 10
President & COO notifies of intention to sell stock Brent Turner intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 8th of November. If the sale is conducted around the recent share price of US$7.96, it would amount to US$398k. Since December 2022, Brent's direct individual holding has increased from 1.08m shares to 1.19m. Company insiders have collectively sold US$2.7m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Nov 09
Rover Group, Inc. Revises Earnings Guidance for the Fourth Quarter and Full Year of 2023 Rover Group, Inc. revised earnings guidance for the fourth quarter and full year of 2023. The company anticipates revenue in the range of $64 million to $66 million, a year-over-year increase of 25% at the midpoint of the projected range.The company anticipates revenue in the range of $230 million to $232 million, a year-over-year increase of 33% at the midpoint of the projected range. Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: US$0.058 (up from US$0.085 loss in 3Q 2022). Revenue: US$66.2m (up 30% from 3Q 2022). Net income: US$10.5m (up US$26.0m from 3Q 2022). Profit margin: 16% (up from net loss in 3Q 2022). Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Consumer Services industry in the US. Recent Insider Transactions Derivative • Oct 19
Co-Founder notifies of intention to sell stock Aaron Easterly intends to sell 300k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of October. If the sale is conducted around the recent share price of US$6.80, it would amount to US$2.0m. For the year to December 2020, Aaron's total compensation was 9% salary and 91% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2022, Aaron's direct individual holding has increased from 3.30m shares to 3.98m. Company insiders have collectively sold US$2.5m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Oct 17
Rover Group, Inc. to Report Q3, 2023 Results on Nov 06, 2023 Rover Group, Inc. announced that they will report Q3, 2023 results After-Market on Nov 06, 2023 Announcement • Sep 08
Rover Group, Inc. Appoints Erik Prusch as Class I Director and as A Member of the Compensation Committee Rover Group, Inc. appointed Erik Prusch to serve as a Class I director of the Company and as a member of the compensation committee of the board for an initial term expiring at the Company’s 2025 annual meeting of stockholders. The board is also expected to appoint Mr. Prusch as a member of the strategic transactions committee of the board. The board has determined that Mr. Prusch satisfies the independence criteria set forth in the Nasdaq rules and is, therefore, independent for purposes of serving on the board, and the additional independence requirements of Nasdaq and the Securities Exchange Act of 1934, as amended, for service on the compensation committee. Mr. Prusch, 56, has served as the chief executive officer of Information System Audit and Control Association, Inc. a professional information security and information technology membership organization, since June 2023 and as a director of ISACA since July 2023. Previously, Mr. Prusch served as chief executive officer at Harland Clarke Holdings Corp., a provider of integrated payment solutions and integrated marketing services, from January 2019 until March 2019. Mr. Prusch served as chief executive officer and a director of Outerwall Inc. from 2015 until 2016. During 2014, Mr. Prusch served as chief executive officer of NetMotion Wireless, Inc. and Lumension Security, Inc., and also served as an advisor to Clearlake Capital Group. Mr. Prusch served as chief executive officer and president of Clearwire Corporation from 2011 until 2013, as its chief operating officer during 2011, as its chief financial officer from 2009 until 2011, and as a director of Clearwire Corporation from 2012 until 2013. Mr. Prusch served as president and chief executive officer of Borland Software Corporation during 2009 and as its chief financial officer from 2006 until 2009. Prior to Borland, Mr. Prusch served in various finance roles at Intuit Inc., Identix Incorporated, and Gateway Computers. He began his career at Touche Ross and PepsiCo. Mr. Prusch served as a director of Keynote Systems, Inc. during 2013, WASH Multifamily Laundry Systems, LLC from December 2017 until December 2022, and RealNetworks, Inc. from December 2019 until December 2022. Mr. Prusch holds a B.A. in Economics from Yale University and an M.B.A. from New York University’s Stern School of Business. There are no arrangements or understandings between Mr. Prusch and any other person pursuant to which Mr. Prusch was selected as a director. Recent Insider Transactions Derivative • Aug 09
President & COO notifies of intention to sell stock Brent Turner intends to sell 39k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of August. If the sale is conducted around the recent share price of US$6.55, it would amount to US$257k. Since September 2022, Brent's direct individual holding has increased from 1.05m shares to 1.18m. Company insiders have collectively sold US$1.4m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Aug 04
Rover Group, Inc. Provides Revenue Guidance for the Third Quarter Year 2023 Rover Group, Inc. provided revenue guidance for the third quarter for the year 2023. For the quarter, The company expects revenue in the range of $61- $63 million. Announcement • Aug 03
Rover Group, Inc. Provides Revenue Guidance Raised Full Year 2023 Rover Group, Inc. provides revenue guidance Raised Full Year 2023. For the period, the company anticipates revenue in the range of $222- $227 million, a year-over-year increase of 29% at the midpoint of the projected range. Price Target Changed • Aug 02
Price target increased by 23% to US$6.64 Up from US$5.39, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of US$6.40. Stock is up 41% over the past year. The company is forecast to post earnings per share of US$0.048 next year compared to a net loss per share of US$0.12 last year. Announcement • Jul 12
Rover Group, Inc. to Report Q2, 2023 Results on Aug 01, 2023 Rover Group, Inc. announced that they will report Q2, 2023 results After-Market on Aug 01, 2023 Recent Insider Transactions Derivative • Jun 16
President & COO exercised options and sold US$149k worth of stock On the 13th of June, Brent Turner exercised 32k options at a strike price of around US$0.36 and sold these shares for an average price of US$5.00 per share. This trade did not impact their existing holding. Since September 2022, Brent's direct individual holding has increased from 1.05m shares to 1.18m. Company insiders have collectively sold US$1.4m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jun 07
Co-Founder exercised options and sold US$294k worth of stock On the 1st of June, Aaron Easterly exercised options to acquire 64k shares at no cost and sold these for an average price of US$4.58 per share. This trade did not impact their existing holding. For the year to December 2020, Aaron's total compensation was 9% salary and 91% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2022, Aaron's direct individual holding has increased from 3.21m shares to 3.78m. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • May 14
President & COO notifies of intention to sell stock Brent Turner intends to sell 80k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of May. If the sale is conducted around the recent share price of US$4.72, it would amount to US$378k. Since June 2022, Brent's direct individual holding has increased from 1.03m shares to 1.11m. Company insiders have collectively sold US$878k more than they bought, via options and on-market transactions in the last 12 months. Breakeven Date Change • May 11
Forecast breakeven date moved forward to 2023 The 8 analysts covering Rover Group previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of US$4.01m in 2023. Earnings growth of 51% is required to achieve expected profit on schedule. Reported Earnings • May 10
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: US$0.025 loss per share (improved from US$0.045 loss in 1Q 2022). Revenue: US$41.1m (up 48% from 1Q 2022). Net loss: US$4.66m (loss narrowed 43% from 1Q 2022). Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Consumer Services industry in the US. Major Estimate Revision • Apr 16
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -US$0.017 to -US$0.019 per share. Revenue forecast of US$212.1m unchanged since last update. Consumer Services industry in the US expected to see average net income growth of 31% next year. Consensus price target of US$5.39 unchanged from last update. Share price rose 4.3% to US$4.40 over the past week. Recent Insider Transactions Derivative • Mar 05
Co-Founder exercised options to buy US$2.0m worth of stock. On the 2nd of March, Aaron Easterly exercised 511.47k options at around US$1.04, then sold 29.63k of them at US$4.31 each and kept the remainder. Since March 2022, Aaron's direct individual holding has increased from 3.17m shares to 3.30m. Company insiders have collectively sold US$487k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 03
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: US$0.12 loss per share (improved from US$0.72 loss in FY 2021). Revenue: US$174.0m (up 58% from FY 2021). Net loss: US$22.0m (loss narrowed 66% from FY 2021). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Consumer Services industry in the US. Major Estimate Revision • Mar 01
Consensus EPS estimates upgraded to US$0.017 loss, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$221.1m to US$212.2m. 2023 losses expected to reduce from -US$0.041 to -US$0.017 per share. Consumer Services industry in the US expected to see average net income growth of 22% next year. Consensus price target down from US$5.72 to US$5.53. Share price rose 11% to US$4.31 over the past week. Announcement • Feb 15
Rover Group, Inc. to Report Q4, 2022 Results on Feb 27, 2023 Rover Group, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 27, 2023 Recent Insider Transactions • Dec 14
Co-Founder recently sold US$136k worth of stock On the 9th of December, Aaron Easterly sold around 30k shares on-market at roughly US$4.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Aaron has been a net seller over the last 12 months, reducing personal holdings by US$463k. Reported Earnings • Nov 16
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: US$0.085 loss per share (improved from US$0.72 loss in 3Q 2021). Revenue: US$50.9m (up 45% from 3Q 2021). Net loss: US$15.5m (loss narrowed 82% from 3Q 2021). Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Services industry in the US. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Adam Clammer is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 12
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: US$0.085 loss per share (improved from US$0.72 loss in 3Q 2021). Revenue: US$50.9m (up 45% from 3Q 2021). Net loss: US$15.5m (loss narrowed 82% from 3Q 2021). Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Consumer Services industry in the US. Major Estimate Revision • Nov 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$164.7m to US$171.3m. Forecast EPS reduced from -US$0.08 to -US$0.12 per share. Consumer Services industry in the US expected to see average net income decline 6.4% next year. Consensus price target up from US$5.73 to US$6.13. Share price rose 5.1% to US$4.50 over the past week. Announcement • Nov 09
Rover Group, Inc. Appoints Jamie Cohen as A Class II Director, Effective November 15, 2022 On November 3, 2022, the board of directors of Rover Group, Inc. appointed Jamie Cohen as a Class II director of the company, effective as of November 15, 2022 (Effective Date), with an initial term expiring at the company’s 2023 annual meeting of stockholders. Ms. Cohen was also appointed to serve on the audit committee of the Board (Audit Committee) beginning on the Effective Date. Ms. Cohen, 36, is the Chief Financial Officer of Vacasa, Inc. and has served in the Chief Financial Officer role since joining Vacasa in March 2021. Prior to her time at Vacasa, Ms. Cohen served as Chief Financial Officer of Angi Inc., an online services provider, from March 2019 to March 2021, and as an Executive Vice President from September 2017 to March 2019. She held various leadership roles in finance and accounting at HomeAdvisor, Inc., an online home repair services provider, from July 2011 to September 2017. Ms. Cohen holds a BS in Mathematical Business, Economics and Marketing from Wake Forest University. Price Target Changed • Nov 09
Price target increased to US$6.13 Up from US$5.69, the current price target is an average from 8 analysts. New target price is 49% above last closing price of US$4.12. Stock is down 70% over the past year. The company is forecast to post a net loss per share of US$0.079 next year compared to a net loss per share of US$0.72 last year. Announcement • Nov 08
Rover Group, Inc. Provides Revenue Guidance for the Fourth Quarter and Full Year 2022 Rover Group, Inc. provides revenue guidance for the fourth quarter and full year 2022. For the quarter, the company anticipates revenue in the range of $49 - $51 million.For the full year 2022, the company anticipates revenue in the range of $171 - $173 million, a year-over-year increase of 57% at the midpoint of the projected range. Announcement • Oct 18
Rover Group, Inc. to Report Q3, 2022 Results on Nov 07, 2022 Rover Group, Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 07, 2022 Recent Insider Transactions • Sep 15
Co-Founder recently sold US$124k worth of stock On the 12th of September, Aaron Easterly sold around 30k shares on-market at roughly US$4.11 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Aaron has been a net seller over the last 12 months, reducing personal holdings by US$327k. Major Estimate Revision • Aug 11
Consensus EPS estimates fall by 46% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$174.0m to US$164.3m. Losses expected to increase from US$0.05 per share to US$0.08. Consumer Services industry in the US expected to see average net income growth of 21% next year. Consensus price target down from US$6.88 to US$5.69. Share price fell 11% to US$4.03 over the past week. Reported Earnings • Aug 07
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$0.02 loss per share. Revenue: US$43.4m (up 77% from 2Q 2021). Net loss: US$3.63m (loss widened 29% from 2Q 2021). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 46%. Over the next year, revenue is forecast to grow 37%, compared to a 5.4% growth forecast for the industry in the US. Price Target Changed • Aug 05
Price target decreased to US$6.50 Down from US$7.25, the current price target is an average from 9 analysts. New target price is 54% above last closing price of US$4.21. Stock is down 63% over the past year. The company is forecast to post a net loss per share of US$0.054 next year compared to a net loss per share of US$0.72 last year. Announcement • Jul 15
Rover Group, Inc. to Report Q2, 2022 Results on Aug 04, 2022 Rover Group, Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 04, 2022 Price Target Changed • Jul 07
Price target decreased to US$7.64 Down from US$8.33, the current price target is an average from 7 analysts. New target price is 88% above last closing price of US$4.06. Stock is down 59% over the past year. The company is forecast to post a net loss per share of US$0.051 next year compared to a net loss per share of US$0.72 last year. Recent Insider Transactions • Jun 11
Co-Founder recently sold US$142k worth of stock On the 8th of June, Aaron Easterly sold around 29k shares on-market at roughly US$4.86 per share. This was the largest sale by an insider in the last 3 months. Aaron has been a seller over the last 12 months, reducing personal holdings by US$203k. Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$0.045 loss per share (up from US$0.35 loss in 1Q 2021). Revenue: US$27.8m (up 128% from 1Q 2021). Net loss: US$8.15m (loss narrowed 23% from 1Q 2021). Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 56%, compared to a 7.5% growth forecast for the industry in the US. Breakeven Date Change • May 12
Forecast breakeven date pushed back to 2024 The 7 analysts covering Rover Group previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 87% per year to 2023. The company is expected to make a profit of US$23.1m in 2024. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Major Estimate Revision • May 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -US$0.06 to -US$0.04 per share. Revenue forecast steady at US$175.5m. Consumer Services industry in the US expected to see average net income growth of 31% next year. Consensus price target down from US$8.33 to US$8.08. Share price fell 25% to US$4.67 over the past week. Announcement • May 10
Rover Group, Inc. Provides Guidance for the Second Quarter and Full Year of 2022 Rover Group, Inc. provided earnings guidance for the second quarter and full year of 2022. For the quarter, the company expects revenue in the range of $41 - $43 million, a year-over-year increase of 72% at the midpoint of the projected range.For the year, the company expects revenue in the range of $160 - $180 million, a year-over-year increase of 55% at the midpoint of the projected range. Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Director Adam Clammer is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 26
Rover Group, Inc. Announces Resignation of Dr. Susan Athey from the Board of Directors On April 21, 2022, Dr. Susan Athey notified Rover Group, Inc. (the Company) that she will be resigning from the Company’s board of directors effective August 4, 2022. Until then, Dr. Athey will continue to serve on the Board and as a member of the audit committee of the Board. Dr. Athey’s decision to resign from the Board was not because of any disagreement with the Company, management or the Board on any matter relating to the Company’s operations, policies or practices. Announcement • Apr 20
Rover Group, Inc. to Report Q1, 2022 Results on May 09, 2022 Rover Group, Inc. announced that they will report Q1, 2022 results After-Market on May 09, 2022 Recent Insider Transactions • Mar 16
President & COO recently sold US$69k worth of stock On the 10th of March, Brent Turner sold around 14k shares on-market at roughly US$4.96 per share. This was the largest sale by an insider in the last 3 months. Brent has been a seller over the last 12 months, reducing personal holdings by US$231k. Major Estimate Revision • Mar 15
Consensus revenue estimates fall by 13% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$200.8m to US$174.1m. Forecast loss of -US$0.06, down from profit of US$0.03 per share profit previously. Consumer Services industry in the US expected to see average net income growth of 72% next year. Consensus price target down from US$13.50 to US$8.33. Share price fell 2.3% to US$4.64 over the past week. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: US$0.72 loss per share (up from US$2.00 loss in FY 2020). Revenue: US$109.8m (up 125% from FY 2020). Net loss: US$64.0m (loss widened 11% from FY 2020). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 28%. Over the next year, revenue is forecast to grow 58%, compared to a 11% growth forecast for the industry in the US. Breakeven Date Change • Mar 10
Forecast breakeven date pushed back to 2023 The 7 analysts covering Rover Group previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 85% to 2022. The company is expected to make a profit of US$5.89m in 2023. Average annual earnings growth of 68% is required to achieve expected profit on schedule. Price Target Changed • Mar 03
Price target decreased to US$13.50 Down from US$15.00, the current price target is an average from 7 analysts. New target price is 133% above last closing price of US$5.80. Stock is down 42% over the past year. The company is forecast to post a net loss per share of US$0.99 next year compared to a net loss per share of US$2.00 last year. Announcement • Feb 17
Rover Group, Inc. to Report Q4, 2021 Results on Mar 07, 2022 Rover Group, Inc. announced that they will report Q4, 2021 results After-Market on Mar 07, 2022