Rover Group Inc. (ROVR) shares declined 5.29% in after-hours on Friday, November 12, 2021, and closed the weekly trading at $13.08. However, in the regular trading session of Friday, ROVR’s stock gained 5.66%. The stock volume remained 0.33 million shares. ROVR shares have moved up by 14.04% in the past week. Over the past three months, the stock has gained 41.06%, while over the past six months, it has surged 39.92%.
Let’s see, is there any recent news behind its after-hours loss on Friday?
ROVR confidential proposed public offering
On November 09, 2021, Rover Group, Inc. (ROVR) confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed public offering of its Class A common stock. All the shares will be sold by stockholders of Rover that were investors in A Place for Rover, Inc, before its merger with Nebula Caravel Acquisition Corp. Rover will not receive any proceeds from the sale of Class A common stock.
ROVR latest financial results
On November 08, 2021, Rover Group, Inc. (ROVR), announced financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- ROVR reported total revenue of $35.2 million in Q3 2021, compared to $13.3 million in Q3 2020.
- Total cost and expenses were $34.4 million in Q3 2021 compared to $20.6 million in Q3 2020.
- The company suffered a GAAP net loss of $84.5 million in Q3 2021 compared to a net loss of $10.4 million in Q3 2020.
- Adjusted EBITDA was $6.6 million in Q3 2021 compared to $1.18 million in Q3 2020.
FY 2021 financial outlook
For FY 2021, Rover is expecting,
- Total revenue in the range of $106million to $110 million.
- Adjusted EBITDA in the range of $6million to $9 million.
ROVR participation in the recent investor conference
Rover Group, Inc. (ROVR) management participated in a fireside chat at the Morgan Stanley Annual Spark Conference, which was held on October 13, 2021.
ROVR best dog companies list
On September 28, 2021, Rover.com® (ROVR), released its Best Dog-Friendly Companies 2021 report, which ranks the top workplaces across the U.S. in their dog-friendly cultures. All the companies listed in the report maintained, and in many cases strengthened, their commitment to providing their employees with dog-friendly benefits.
According to Rover, the top three best companies are Amazon, Athena health, LLC, and Trupanion.
Conclusion
Well, there was no reason behind its plummeting in the after-hours on Friday. We hope that it will return to positivity after the weekend.
