Wag! Group jumps on FY revenue forecast, upbeat Q4

Wag! Co

21/02/2023 22:08

** Shares of pet services marketplace company Wag! Group Co
 PET.O  up 33.4% at $3.07 in after hours trading  
    ** Co expects 2023 revenue in range of $75 mln to $77 mln,
7% increase vs prior forecast at midpoint of range
    ** PET also tops Q4 revenue estimates; posts revenue of $17
mln vs expectations of about $13.8 mln - Refinitiv
    ** Also reports Q4 net income of $5.8 mln, compared to a net
loss of $2.7 mln in Q4 2021
    ** "In 2022, we delivered all-time record results,
significantly ahead of our expectations" - CEO Garrett Smallwood
    ** Up to Tuesday's close, stock had fallen nearly 77% in the
past 12 months 
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth))