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Rover Rover Reports Second Quarter 2021 Financial Results August 9 , 2021 • Q2 GBV of $ 134 million , Rover's highest GBV quarter ever • Q2 new bookings of ~ 228,000 at ~ $ 9 average customer acquisition cost • Q2 net loss significantly narrows • Achieves Adjusted EBITDA profitability for the first time • Company raises full year 2021 guidance SEATTLE , Aug. 09 , 2021 ( GLOBE NEWSWIRE ) -- Rover Group , Inc. ( " Rover " or the " Company " ) ( NASDAQ : ROVR ) , the world's largest online marketplace for pet care , today announced financial results for the second quarter ended June 30 , 2021 reported by A Place for Rover , Inc. prior to its merger with Nebula Caravel Acquisition Corp. on July 30 , 2021 . Unless otherwise noted , all comparisons for Q2 2021 are relative to Q2 2019 , due to the irregularity COVID . Second Quarter 2021 Financial Highlights : Rover Q2 Earnings Release Illinge Second Quarter 2021 Business Metrics : w dan na an W7 23 Becking MA 03 20 ALMA AUGE 22:21 1,75 1.42 175 ; RS M PA 7304 Q2 Bookings and GBV In ا ... ta 13 5321 1534 FIS na m 1 : 3 " We are pleased with our strong second quarter financial results , as we drove growth in our core service offerings and reported a record number of new customers largely driven by organic channels , " said Rover co - founder and CEO , Aaron Easterly . " With the completion of our business combination adding approximately $ 240 million to our balance sheet , we feel well positioned to pursue the opportunities ahead . " 17583 18 10 % Rover's 2020 business metrics caused by 17 • Revenue of $ 24.5 million , compared to $ 23.8 million , an increase of 3 % . • GAAP net loss of $ 2.8 million , compared to net loss of $ 12.0 million . • Adjusted EBITDA of $ 2.5 million , marking the Company's first quarter of positive Adjusted EBITDA . The Q2 result was an improvement of $ 10.4 million from the second quarter of 2019 resulting from strong revenue performance and organic new customer acquisition . • Gross bookings value ( GBV ) of $ 134.1 million , compared to $ 113.9 million . This was Rover's largest GBV quarter ever , surpassing the revious high achieved in Q3 2019 by 15 % . 25 • Total demand grew each month as early summer travel began to normalize to 2019 levels , growing 18 % in aggregate over Q2 2019 . • Total bookings of 1.08 million , compared to 1.05 million . • New bookings of 228,000 , compared to 175,000 in Q2 2019. This was Rover's largest new customer quarter ever , driven by organic acquisition , surpassing the previous high achieved in Q3 2019 by 16 % . • New customer acquisition efficiency continued , with Customer acquisition cost ( CAC ) of $ 9 , compared to $ 38 in Q2 2019 . • Average take rate of 24.7 % for bookings that were booked in the quarter , compared to 23.5 % in Q2 2019 . • In June , pre pandemic cohorts reached 80 % of expected behavior if the pandemic did not happen . We saw this maintain in July , holding at ~ 80 % . Second Quarter 2021 Geographic Highlights : • For U.S. bookings , California increased 83 % , Florida increased 50 % , New York increased 90 % , and Texas increased 73 % from Q1 to Q2 2021. Historically , the average seasonal trend has been a 17 % decrease during the same time period for these states . Rover expects the exact rate of recovery to continue to vary by locale . • International markets have been slower to recover and are pacing behind their historical levels . In the second quarter of 2021 , international markets represented 3 % of total GBV , down from 6 % in Q2 2019 . • Canada showed modest recovery , with second quarter 2021 GBV growing 80 % compared to Q1 2021 , but still down 20 % from Q2 2019 levels . • The rest of Europe has also seen a recent improvement in Q2 2021 GBV levels , growing 170 % compared to Q1 2021 GBV as restrictions for travel within the EU continue to vary , but are still down 50 % from Q2 2019 levels . • The United Kingdom , the biggest European market for Rover , has seen a recent improvement in GBV levels , with Q2 2021 GBV growing 250 % compared to Q1 2021 GBV as domestic travel in the U.K. has increased , but is still down 40 % from Q2 2019 levels .