Earnings call transcript Q2 2023

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Operator

Good day and thank you for standing by. Welcome to the Rover Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised, today’s conference is being recorded.

to Ruddy, conference and VP like speaker to Capital now Walter today, of would hand over the your Markets. I Investor Relations ahead. go Please

Walter Ruddy

Good today, be at discussing Rover’s results to Relations announced results. afternoon. website press joining investors.rover.com. available the this quarter release on our issued Investor In will XXXX earnings is Thank discuss we call, in for which you second us our

and and will webcast being available As a is from Investor there being Relations call recorded call. from reminder, replay live website the be our for is after this shortly

Executive With Chief me today Officer Wickers, is and and Officer; Brent Aaron Chief and Easterly, President Officer, Rover. Chief Turner, Charlie Financial Co-Founder; Operating

safe begin, everyone other financial Securities to market trends, growth, their remind impact, the business I’d XXXX. make and anticipated U.S. Litigation financial events, opportunities that Reform we in Act certain results and health marketing, travel and and including operating expectations like metric investment non-GAAP future provisions within public growth and and and harbor initiatives other performance profitability future GAAP XXXX of of may Before targets, the and These and management forward-looking and expansion statements market factors prospects, and expected industry and opportunities, and macroeconomic, conditions. strategies, and product partnership liquidity, investments non-U.S. future guidance, margins,

law. on and management. to expressed beliefs materially undertake risks risk those of our and could only forward-looking All forecasts and assumptions the by recent cause information that and XX-Q. duty included today from under unknown implied actual projections Form call, uncertainties are performance elsewhere speak statements the filed factors risks known subsequently estimates, and or to and to no in this required uncertainties Forward-looking based are differ and expectations, subject XX-K unless during as most current and results update We and including or of the Form statements

of guarantees forward-looking statements future reliance not as should they are place on undue performance. not You

We comparable most financial and measures. The posted non-GAAP be will directly to non-GAAP the comparable supplement also investors.rover.com. directly measure the most and at measures can financial reconciliation reconciliations News in under GAAP GAAP discuss Events, Presentations certain historical found

For the of to the be compare for or not GAAP Non-GAAP forward-looking not reasons or non-GAAP have QX, directly substitute supplement, provided QX, measures Unless most reconciliation we GAAP financial the XXXX a will measures we to comparable call. forward-looking a in noted, otherwise XXXX any considered discussed non-GAAP reconciliation this superior metrics financial measures. measures. as all in should

Aaron? call Co-Founder get to I’ll let’s over Easterly, that, now and started. Aaron the turn With CEO.

Aaron Easterly

by Thanks Walter, give and XXXX our few financials results discuss the Brent close remarks thank guidance you the marketing to quarter Charlie our our and will outlining investments will then a start prepared everyone and for additional bookings on we out before I and turning detail the earnings performance call joining products. and to before in us highlights providing second today. questions. take by

margin. increased and quarter. We Gross expanded to XX% adjusted or million, $XX value fantastic $XX.X to EBITDA to Revenue second $XXX million. had a million, an grew booking

are of performance our expected adjusted reduced for result we strong our guidance increasing macro a year. risk, As EBITDA and the and again near-term revenue

years. the are headline have of for we Beyond on priorities last the many we results, had these two building

cost travel marketing this to margin driven made the in product EBITDA adjusted XX% we improve the margin expansion. First, continue strong while summer adjusted with Even to of our investments year substantially from structure. season EBITDA investments demonstrate ahead by prior to investing scale quarter, and notable and both leverage into XX% we've in our operating business increased leaning of enhancements,

goal. adjusted we further evidence to are EBITDA greater of ability target long-term believe We our have this than our a results of XX% QX achieve and margin, articulated

of face solid of new This category of up share approximately this measure and achieved we our demand. the believe result gains. X% pacing over is business that points. sluggish XXX,XXX in by levels, year's was additional bookings now last Second, new record record demand customer quarter, the another XX of We

another European Canadian in GBV our of parents. markets. XXX% geographies. Europe strengths strong XX% allowed improvement Third, in expand in of XX%, economics growth cat our XX%. reflecting to these in grew quarter grew fast-growing drivers for our had us our GBV Europe bookings marketing Canada, investments unit we in non-U.S. and with cat-only Further and GBV grew in continuing

U.K. igniting local down the doubling were channels, on and new channels able France particularly of existing we speed also marketplaces. demand while positively, both By scaling launching these to responded and the up supply.

in Fourth, we and are the LTV in recent driven XXXX rates. growth reduced high, in bookings first Expected repeat tracking predominantly all-time daycare, and the half customers most saw during of customer, in increases our per cohorts. cancellation strength from dog by continued acquired walking ABV,

now As noted have we would where there been trend expected pandemic. last incremental quarter, the customers a these have recovered cohorts, to also no we're seeing with positive trends had pre-pandemic

as product Finally, bottom bookings changes levels, top results. our platform of we've that we customer made their calendar sitters satisfaction. sitter to are how Rover are on strengthened long-term newly view increasing line believe examples have and as launched customer acquisition improvements and stickiness, Enhancements insights well dashboard

customers are that line supported Additional are processed creating adjustments payments efficiencies margins. are are to bottom driving how increased our cost and

the what of this about of I'm remainder and excited quarter, we've proud I'm year. the accomplished

Our our love for making experience possible team to unconditional to our is the of pet. it offering a everyone improving focused of on mission uphold

pet-owning million similar amount and our XX in a U.S. in the growth tremendous approximately With there's business. Europe, in households potential

a is our progress engagement driving our our targets. and performance we QX the Our long-term towards outlook are and operating testament to improved

and call the to operational performance. to over turn I'll discuss that, our Brent With bookings

Brent Turner

call. will volumes. marketing our and our afternoon to will good and Then by bit giving booking more everyone the the of discuss on a expenses I Aaron, I success Thanks start marketing on execution in driving commentary strategy.

quarter. highlighting up wrap product by during our I'll investments Finally, some of the

platform. QX, were bookings a Repeat X.X XX% levels record generate the continued we new Total increased on business of million, year-over-year. to and XX% XXXX. versus repeat QX, bookings increase In

New in roughly new over level demand, changes our to as share. especially record measure in a up XX% is was encouraging highest from and quarter quarter. additional gaining suggests we for it of down bookings market totaled XXX,XXX, approximate second This the XXXX, quarter our represents in especially even performance date our are X% second bookings new as that customers,

Turning to XX% non-GAAP was expense of in XX% of target marketing. range middle of In XX%. QX, our marketing the to revenue,

our is customers are As able at category driving as in mentioned new calls, build on its prove unit economics. we marketing have to non-search strategy acceptable effectiveness steadily we spending development previous to

we success a testing establish summer. to Here a prior in we our are of built making bit progress, and quarters going QX, into ramp upon in

We and continue Nextdoor, YouTube, to and see in positive streaming television. results, including on linear

United States YouTube display pleased are targeted We and some outside results with especially media with the spending. our

TikTok. creative booking. initial our the to process individual we look improving new we the while as channels half such each awareness YouTube all we Nextdoor effectively marketing more As of market. customers geographies, Europe, of to and framework focused in build on development scaling also back the are first our nuances through momentum, match are testing potential into from And to as for we year, are In focused our we on messaging revisiting

I would product turn now like to to investments.

two our goals. calls, have As other general has strategy discussed product in we

drive customers. The first increasing conversion to is by rates bookings new for new

both bookings existing customers improving sides of for drive platform repeat The second by marketplace. the to on is stickiness

executing we strategy, against excited quarter another that is QX and about of are momentum. our

released update a care we the very well-received calendar provider to pet First, experience.

care providers their we and availability enabled view parents. Here, easily to more manage of pet

and displayed information of made better enhancements is in provider our parents. the pet Second, care to care a to help providers facilitate between way we search experience set matches

Third, happiness. to how better care to of a improvement help we perform our parent sitter insights key to broad on metrics pet released providers dashboard pet understand

to platform further future to of announce quarters. I our to building during hope forward we further I'm our awareness and and proud enhancements, our repeat test Overall, is bookings. in additional focused drive both to offering and on of the progress. continue new quarter, efforts look and We team Rover improving releases

turn to the to I'll Charlie on performance. financial over provide call detail Now our

Charlie Wickers

by the second quarter, an followed financial Thanks I'll update our on begin by results Brent. providing guidance. for

year-over-year, excellent toward our financial growth as results we continued possible during produced adjusted of leverage including the demonstrating margin strong EBITDA long-term targets. revenue scale clearly Rover and margin quarter, expansion the

was million, up up driven XX%. XX%, increase while primarily GBV quarter, revenue $XXX million, was in $XX revenue was The the by For three factors.

the approximately by of revenue driven on. XX% bookings First, in Brent increase provided detail growth was half the

owners of ABVs increase ABV and third, Second, growth XX% unit X% higher benefited driver rate of an approximately to revenue of moderating. a higher the of of from rate year the increase driven XXX of a improvement. start of was was And by up XX% was $XXX, were price all shift main XX% The service. approximately point U.S. of XX.X%, which cancellation the as structure the due take fee per the average in expected, basis to recognized revenue up which year-over-year, and XX.X% the from increase ago,

The take in as growth revenue our both of timing rate cancellation was balance and the well continued of Improvements holiday expansion as combination of Xth and from have related revenue. July the to in rate the growth driven margins. ancillary increase of and revenue,

of approximately XXXX. was to by and in lift operating variable cancellation take XX% from In balance of the was margin QX infrastructure our due rate to contribution driven our non-GAAP Approximately from improvements. XX%, half the The QX, leverage increased rate tech costs. the

to efficiencies processor expanded merchant our team our through payment product our improvements QX, implementing enduring fees by configuration. our In late of further margins

our in investment margin changes confidence LTVs, to forward, improve recent marketing Going XX basis we and point in enable margin unit increase while performance. targets. non-GAAP further approximately relative contribution are increasing long-term our economics, our expected to expect in a These our increase

into marketing costs to across in managing expenses. business. to season, invested the We efficiently summer the while growth peak drive Moving

performance, revenue driven three for In the items. to quarter line was by addition bottom beat strong the

In revenue from QX, XX% and improvement First, an operations QX, XX% XXXX. and continued support. of of support operations leverage and revenue, non-GAAP was in

percentage business. XX% as marketing $X.X driving from XX% scale to expense our additional is investment non-GAAP QX, efficient in able million in were we our marketing, of marketing In to QX, revenue an reducing while a on invest XXXX. Second,

G&A. managing XX% decreasing of non-GAAP and XXXX. QX Third, respectively and our commitment was G&A non-GAAP and development non-GAAP XX% revenue, in fixed development of to from was both revenue product XX% cost XX% Non-GAAP of product and

data long-term provided our quarter's that support has us near points positioned positive for have and returns. product to This improvements performance view additional recent

for term result that are believe may investments to consider cost trajectory, further additional upside incremental there structure to which our opportunities we that right-sized. may believe in additional drive us that investment. generally our We Absent continue is to medium

our margin expenses ability QX improved EBITDA showing or of adjusted million, and continued or scale up results the $X.X EBITDA $XX.X to our to margin leverage incremental the a were drivers of adjusted year-over-year revenue, has XX%, of bottom in and million, on line committed marketing a to our Strong XX% of primary that efficiency remain and non-GAAP margin from focus contribution commitment. We last Rover believe of of margin this margin, potential our and continued demonstrate year. an

Moving our a $XX decrease of million million, to the program. an approximately of update as July X.X aggregate And million an shares our our from repurchased on we XXst, a price have XXXX. of year-end of outstanding shares total program. XXst, point for is of purchase approximately X.X crossing million, halfway Through July buyback XXX.X

work the are summary, to In investing of focus the team, These bottom line in the delivering results Rover top and shareholders. to in produced capital quarter, dedication and to testament our alongside business product and while our and also I'm phenomenal proud them. a results

guidance. Now to turning

are into our thus as our are mid-first takes well XXXX second of we our of full but summer as the mid-second our account by months The we to retaining for from overperformance in previously XXXX XXXX. discussed, year the and travel improved Aaron guidance. guidance our into moderate our recession impact As a as mild QX, in potential peak raising the head thrilled of year. outlook the peak we modeled the the half the in increase half are of moving to Accordingly, forecast, timing performance half

more guidance a macro impacts that impacts for increased I or in upside less that the of health Similar to that than quarter, health to or is year. also last later, XXXX. result new occurs mild want possible incremental to We are the remodeled, recession for may continue emphasize to balance include our

would XX% which For the over of million margin midpoint. $XX year million, and XXXX, to EBITDA a now million, EBITDA revenue $XXX adjusted revenue be the expect at $XXX XXXX, increase we XX% midpoint a of $XX or million in to at full the adjusted

in and adjusted third million $XX margin revenue XX% to million million million at revenue, adjusted quarter, the XXXX, the the EBITDA $XX we $XX EBITDA, For to expect would midpoint be which $XX QX, increase XX% over in or in a a midpoint. at

goals. about to top quarter. to look line our our progress again quarter this this discuss progressing to look year margin growth, We toward forward forward performance priorities to continuing while and you against with connecting our our We excited execute are drive long-term to next

open we with And will you that, for it turn now can up questions. Q&A? Operator, to

Operator

Thank you. [Operator Instructions]

from question comes with first Maria Our Canaccord. Ripps

line is open. Your

Maria Ripps

Good Great. and quarter. the congrats on afternoon, excellent

think raising there way your can awareness and I your stronger this Is you share? what sort gaining a year is platform second time and execution macro broader sort environment So, outlook. year versus creating about and maybe this driven your extent this category is perhaps by talk of of travel to full

Aaron Easterly

XXXX environment travel to factors up healthy. Maria. into hear Hi, the It's and to lot year-over-year. it. roughly of good It's going say voice. with flattish starting The There's I'd neutral. is a your

slightly better is on benefit environment definitely in we healthy. So, we had helps and the consider modeled macro to in a repeat. think terms both new that we and of The that us, recession

a and multiple so some seeing is in for material this U.S., We've kind our believe gains the acceleration some and share hero our terms we of all in seen pretty seen markets, gains the investments that we're performance Europe. years year. of but far in from also result across seeing of the do product our We that think seeing dynamics much word-of-mouth nice of material results is the be of that may product I we've we're investments,

Maria Ripps

towards? new the services, rank bigger allocating which Could picture most top expected order among you So, over couple in impact, maybe and international your various of your initiatives mix, marketing one growth maybe question. launching growth of these investment a of of products excited terms about refining next And expansion, years? more line are and Great. sort you

Brent Turner

Hi, Maria. It's Brent.

investments. We excited about product our are most

on think there's the have terms providers. care of terms improving bit of, quite on in marketplaces driving of still low-hanging said both We we that stickiness, multiple a for of usability fruit in that there calls out also and sides particularly

And thing investment the from an so, most product we that are think the standpoint. excited probably about we're investments

to feel momentum plan by we're marketing going fact swings that is about our helping keep our the we in be channels of about interrupted macroeconomic excited Obviously, and and good the or sort us, not that swings of are of because every becoming waves better put year, and this is would the part X materiality, growing excited. International it but is we a bigger quickly COVID I year. the of only but its level pie

Maria Ripps

for Great. call. Thank the you very much

Operator

One our for moment next question.

with comes Our next Morgan. Cory Carpenter question from JP

line Your open. is

Danny Pfeiffer

is the talk Hey, you two search remarks. demand talked you mentioned that the so seeing quarter, terms, I in guys. on the Pfeiffer about I again for Cory in you're think This what Carpenter. opening you and Google Danny maybe XQ? via far trended Can category ones. quick Last the about just drop-off how through it in have and quarter

companies that in any travel from domestic international. to then that airline longer seeing terms overnight Maybe and travel Thanks. of secondly, are there's duration bookings? of greater of shift from a been internally you heard lot we of And a

Brent Turner

the for Thanks question.

right those We are every in said a saw quarter, United terms bit Last measure. So, might that customers trends through particularly current has we quarter. our Google something talk for rebound and new between the now, And but something talking the in say Canada industry we're And seeing I quarter, be States. down softness of trend little in use XX% was moment. think we it for this in yeah, a We is a XX%. continued demand, additional important we we new this important of about approximating that basket to about customers. when industry that particularly

to in by that to continues scale our paying of We product fact marketing how through are testament it, our is able we've that that, honestly, terms encouraged we been that the continue and scale, investments plus to think business and off. the to

Aaron Easterly

that book definitely around are trips markets. visibility This our their to where seeing don't going destination travel, perfect is international town from. the With in question the leaving have that typically to they're their we're growth hometown, in services a regards they as nice the because We are on Aaron. people international

the international travel, slightly units higher a would slightly per higher Although, in order have slightly to we a case see probably modest, X% of booking. per stay, so higher that from think of there's did year-over-year you'd more duration pretty And comp. where booking, but units the in we a X%

be bit little would question. maybe to your So, a answer the

Danny Pfeiffer

Thanks.

Operator

question. our for moment next One

comes of Schackart question Ralph next William Our Blair. from

line Your open. is

Ralph Schackart

Good afternoon. Thanks question. for taking the

from well share During as about the enhancements, talked material and you call as gains material gains. today, products

perhaps or you had as sort you may sort to of what around I perspective make other And you gains or combinations of at time comparisons share when what quantification if that curious able be? share you've could material gains follow-up. then might enhancements idea some Then any give and those have Just an sort seen may product of of a well. have be

Brent Turner

I Hi, voice. good talk least think our your about we When at measures, has mean we, share to for customers think when gains, down. gone we continuing hear even customers, It's new new we're by the is that grow what to category Ralph.

do is some And say so, have of much are not I'm possible, now think we'll but product about that about probable they in estimates publicly future. while which sufficiently not we driving improvements sure are enhancement right bundled what, internal that only that. the sort additional We

Ralph Schackart

Okay. Great.

the sort perhaps order what's on just It before lesser sounds and the previously, macro have of maybe the you of maybe kind or guidance guidance curious, focusing good had embedded a -- Do handle maybe on some factors a bit. before of is some degree have that little bit XXXX than more but recession now versus set. a of in to magnitude on may the I like Just you in macro Just still a little have sort you. Thank sort color, that of concerns that? XXXX. pushing guidance,

Charlie Wickers

regards shifted Charlie. macroeconomic accounting the peak is a most we've same It's us just scenario, some timing. likely we've approach, we the taken With Ralph. to of disturbance, think form Hey, for what but

And so, periods the of highest our year. seasonality of during revenue, you when second business, the to highest think tend we the this number half booking about of have

for impact there of the -- of of of through so, the of into out going platform And as that driver means there's and XXXX, our the a highest half a the primary out revenue, that guide shift the shifted the second out of has is where the calendar period peak demand XXXX half lesser peak XXXX, as our with dynamic and well just result And peak balance overall the increased increasing shift year. mid what of the first of with as for year, of has mid that the confidence, thus seasonality. of a just a time our the highest because of booking for

Ralph Schackart

It's you. Thank Okay. helpful.

Operator

[Operator Instructions]

for next moment one question. our And

Securities. next Boone Our comes from question Andrew with JMP

Your line open. is

Andrew Boone

Good to you about presentation. afternoon, for ask the wanted and chart to LTVA I that the taking published in guys questions. CAC thanks my

relates it's today macro. quarters as to can over efficiency, down forward? stands trended last how you like Thanks. it and looks Is marketing the us anything it on commentary help going trending As efficiency six a it's understand it share there marketing to the little understood guys and bit

Aaron Easterly

COVID you period. chart, at Sure. noting, that It's the worth look when

cash runway. and and big we paid our shut to strategy to portion conserve a went of off COVID, largely a During marketing organic basically

got deceptively outsized to you ratios. And these CAC LTV so,

generally normalized so, seasonal typical those where are we'd you say consistent that dynamics. And quarter-over-quarter for we've marketing, at the post-COVID if look adjusting period pretty our

expect forward. in range a to similar we be going So,

as expect increase long. fewer to The not more don't points, they as just have but have points out because time kind go most as cohorts data would to played data incremental goes the of points We up the recent that's high, data so chart that on continue by.

Andrew Boone

seeing about, understand, is customer wanted pullback makes has I comp? in been pet pet you've terms demand? us that help think in less word then, something to explain of the the terms just can guys of new That I so click Thanks you to Is much. it and tough that talked sense. words, kind And are the of double In that demand sluggish. help Can else macro a there you rebound? adoption? Is other new

Brent Turner

is Thanks for the This question. Brent.

we're say the trend like who's call, pet going as think that but trends question in somebody to us operating make executing. sitter, of find say year-over-year question, doggy funnel of put demand terms that points in getting demand funnel we're to sure help that can okay more year-over-year, that or in have up able mean, a settled demand was we platform, and I I previous And on from where of I marketplace, dog that just bit if reassured trend more previous how we're them are Google saying that little data a those of we a walker, is, on from changes terms are now. year-to-year. little or boarding, those I and everything's pet sitting, also basket indications a being platform the a bit previous We the our off things daycare. and we see together I'll terms dog up funnel basket then up approximate on

soft not. a then all right for pet it's think business. thinking big the easy been our of the now in be soft seem is and is changes driven become relocations, travel when past now, big really may we adoptions, right which place few are travel about speaking, is, platform, which that and terms drivers demand also sort to think I to new it's housing our may obviously, or a of be in are least here, of it's purchases Traditionally personal houses, on and driver here by those group also but editorial not in editorial at travel My the so that, changes where, our simplify or have years,

to I backdrop. all guess, this long-term I we Now, in expected this, would normalize the again trends. mean, say room, I to

timing the not or strength. the are sure We about

Andrew Boone

you Thank much. Makes so sense.

Operator

question. next our for moment One

Davidson. comes question D.A. next Tom from with Our White

open. Your line is

Wyatt Swanson

on for taking Hey, Tom. question. Wyatt this our Thanks Swanson is for

a as now bit talk your it driving role play of started anticipate of the rates, little your less to you what's COVID-XX cancellation remaining in how this half So, could over a and about has changing you cancellation year? rates

Aaron Easterly

Sure.

not cancellation COVID although generally be we our have in at of population continues severe. rates less full seen So, to level, normalization post-COVID. the a some

contributes think our And of so, some it cancellations. to still we

So, one. that's issue

Issue two is we've reverted. mix level since had also change service fully hasn't a that pre-COVID the

So, we our share higher have overnight a cancellation little of which had to historically going a rate. higher business bit have services,

as results rate. has So, shifted, a mix but bit cancellation in that not fully also little shift back, that higher

somewhat the a On reverts basis, been volatile to swings by the health We and at chance But We're line for is service a likely these line back have we the continue of to be those we little muted, continue outcome year their think may do elevated. normalized has some more that until that there's kind optimistic. a back But most service half. mix in to things bit always get revert less a they general, a and/or more point. over another generally to last spot, wave. wave think each and been norms

there wouldn't right be So, we to ups the direction, trending and some downs. surprised but be if continues

Wyatt Swanson

think could the been cancellation were call. helpful. earnings on Got policies you stricter kind it. impacting the mentioned And implemented I related business? then about how to it have talk last of That's very the you that, that

Charlie Wickers

Yeah. I'll take that one.

quarter this has our a it. into continued to That to a an allow to last policy. feature three much the to we update real last XX about implemented you since update, not in, that new last was burn to on. I at cancellation stricter It visibility that adjust first we additional months had providers ago yeah, So, call point up had months brought

it continuing we're so, And how plays out. see to monitor to

Wyatt Swanson

right. you much. very All Thank

Operator

[Operator Instructions]

One moment next for question. our

question next from with Eric Sheridan is Our Sachs. Goldman

line open. Your is

Eric Sheridan

the so much Thanks for questions. taking

its appear some want about thinking variability dropping now between frameworks make terms you're through think come matching to the margin how as elements of terms the of year. bottom the environment some line be the build incremental that back if you your you you in balancing go First, raised investment to of should of through, especially want Thanks. and this criteria. of in the investments business I guidance on frame we the the of it about Maybe year might revenue thinking and key to to end and how the the versus continues to that versus momentum, in

Aaron Easterly

newer likely amount investment a build areas. to bit to we're most business the great, into trying wanted amounts, business investment We've dollar enterprise overall looking we have landscape. core additional of some investment terms to and our scale believe long-term within to and business Hi, the of our want well that some pet Everything marketing has of move harder we balance value. into growth both we're the continuing business, international -- a the push at that reserve improve business. go Eric. as our into profitability. to And core services scratching on enduring, broader to always little We surface, then, still And as in to expect

we Now, all test roll When we go of have sometimes level risk. they well. really some our and of investments out features them,

say, can better. what, think Sometimes we do we we

some to happy be returns in there in that quarter-to-quarter those. expect we've But the with on numbers, we been of order very roughly but the So, variation prioritization. aggregate

Operator

questions time. for I'm remarks. Aaron not turn showing back any further call closing over any this I the to

Aaron Easterly

us results. thank to want everyone today QX I to discuss our for joining

of the you progress the and quarter. trajectory We towards are look with connecting long-term forward next again excited all business to targets. about our We our

Operator

gentlemen, and conclude this presentation. today's Ladies does

wonderful and have disconnect now day. may You a

Rover Group Inc - Ordinary Shares (ROVR) 1 Aug 232023 Q2 Earnings call transcript