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Rover Rover Reports Third Quarter 2021 Financial Results November 8 , 2021 • Revenue increases to $ 35 million , up 31 % from third quarter 2019 • Record GBV of $ 157 million , up 35 % from third quarter 2019 • Highest new bookings of 259,000 , up 32 % from third quarter 2019 SEATTLE , Nov. 08 , 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 third quarter ended September 30 , 2021 . Bookings ( 000s ) 1 - Year Prior YOY % Yo19 % 5 % 925 109 816 Q1 '20 925 880 ( 68 % ) 336 40 296 ( 49 % ) 336 1,054 583 93 489 Q2 '20 Q3 '20 " Q3 was a strong quarter for the business in terms of GBV , bookings and revenue , despite the Delta variant of Covid continuing to weigh on travel , " said Rover co - founder and CEO , Aaron Easterly . " We are benefitting from an increase in pet ownership , the strong emotional bonds we are forming with our pets and the ongoing shift to online pet care options . Looking ahead , we expect these trends will continue to drive secular growth in our category leading business . We are optimistic about Rover's future prospects with an efficient business model and strong balance sheet inclusive of over $ 290 million in cash . " 583 1,147 Bookings ( in thousands ) New Bookings Repeat Bookings Yo19 % ( 49 % ) 559 84 Unless otherwise noted , all comparisons for Q3 2021 are relative to Q3 2019 due to the irregularity in Rover's 2020 business metrics caused by COVID . Third Quarter 2021 Highlights : • Revenue increased 31 % to $ 35.2 million , compared to $ 26.8 million . • Gross bookings value ( GBV ) grew 35 % to $ 157.1 million , compared to $ 116.2 million . This was Rover's largest GBV quarter ever , surpassing the previous high achieved in Q2 2021 by 17 % . 475 • New and Repeat Bookings had record quarters with Total Bookings increasing 10 % to 1.27 million , compared to 1.15 million . New bookings increased 32 % to 259,000 , compared to 197,000 . Repeat bookings increased 6 % to 1.0 million , compared to 950,000 . • GAAP net loss of ( $ 84.5 ) million , compared to ( $ 12.1 ) million , as the result of an $ 83.6 million non - cash fair value adjustment for warrant and earnout liability tied to the SPAC transaction . ( 27 % ) 559 1,106 643 102 541 Q4 '20 Q1 '21 • Adjusted EBITDA of $ 6.6 million , marking Rover's second consecutive quarter of positive Adjusted EBITDA . The Q3 result was an improvement of $ 14.9 million from the third quarter of 2019 as a result of strong revenue performance paired with a high volume of organic new customer acquisition . • Record cash from operations of $ 20.6 million , ending the quarter with $ 290.3 million of cash and cash equivalents . 643 925 2 % Note : Yo19 % calculated as simple growth rate vs. same period 2019 1,076 228 848 Q2 '21 1,076 336 5 % ( 68 % ) ( 49 % ) ( 49 % ) ( 31 % ) 220 % 5 % ( 68 % ) ( 49 % ) ( 49 % ) ( 27 % ) 2 % 10 % 1,267 259 1,008 Q3 '21 1,267 583 118 % 10 % GBV ( 5mm ) 1 - Year Prior YOY % Yo19 % ( 5 % ) $ 87M Q1 '20 Bookings + GBV $ 86.8 $ 91.0 ( 71 % ) $ 33M m 1881 Q2 '20 15 % $ 32.8 $ 113.9 Bookings kra 721 Bes www . Q3 '20 04 % ez van aar $ 56.9 $ 116.2 = אין 24 Ivela spera + GBV 275 GBV fin millions ) ( 51 % ) ( 51 % ) A $ 57M $ 57M GBV - Yo19 % Q4 '20 $ 56.7 $ 115.3 ( 29 % ) 451 104 Avrha $ 0 $ 112.0 THINK $ 65M ال Q1 '21 $ 64.7 $ 86.8 - ( 5 % ) ( 71 % ) ( 51 % ) ( 51 % ) ( 25 % ) ( 5 % ) ( 71 % ) ( 51 % ) ( 51 % ) ( 29 % ) 46 18 % KUM $ 134M Q2 '21 $ 134.1 $ 32.8 309 % 18 % 35 % $ 157M ان Q3 '21 $ 157.1 $ 56.9 176 % 35 % 44 % B 1 ... Growth in GBV represents increasing activity on our platform from repeat and new pet parents and may differ from bookings growth depending on the