Rover Investor Update
Legal Disclaimer
This presentation and any related oral statements contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 including, but not limited to,
Rover Group, Inc. ("Rover")'s expectations or predictions of future financial or business performance or conditions, statements regarding COVID recovery, changes in travel and working behavior, growth, product, offering and
market opportunities and the impact on Rover's business and operating results. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events,
or results of operations are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "potentially," "preliminary," "likely,"
"predict," "ongoing," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve risks, uncertainties and assumptions that may cause actual events, results, or
performance to differ materially from those indicated by such statements. Certain of these risks are identified in the section titled "Risk Factors" in Rover's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022
filed with the SEC on May 12, 2022 and its Quarterly Report on Form 10-Q to be filed for the quarter ended June 30, 2022. Additional factors that could cause actual results to differ materially from those expressed or implied in
forward-looking statements can be found in Rover's other filings with the SEC which are available, free of charge, on the SEC's website at www.sec.gov. If the risks or uncertainties ever materialize or the assumptions prove
incorrect, Rover's results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date they are made and are based on then current
expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, Rover assumes no obligation and does not intend to update any forward-looking statements or
to conform these statements to actual results or changes in Rover's expectations.
The information contained herein is derived from various internal and third-party industry publications and sources as well as from research reports prepared for other purposes. Rover has not independently verified the
information obtained from these third-party sources and cannot assure you of the information's accuracy or completeness. This information involves a number of assumptions and limitations, is subject to risks and uncertainties,
and is subject to change. Actual events, results or performance could differ materially from those expressed in the estimates made by the independent parties and by Rover. No representation is made as to the reasonableness of
the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any information on past performance or modeling contained herein is not an indication as
to future performance. This includes, but is not limited to, the analysis of lifetime value (LTV) which is based on customer cohorts. While we believe that the trends reflected by such cohorts are illustrative of our broader base of
pet parents, cohort results inherently reflect a distinct group thereof and may not be representative of our current or future composite group thereof, particularly as we observe changes in rebooking rates, length of bookings,
frequency of repeat bookings, availability of pet care providers and other behavior over time, as well as seasonal or differential impact from other factors such as COVID.
In addition to results determined in accordance with generally accepted accounting principles ("GAAP"), this presentation contains certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA margin.
These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Rover believes that the use of these non-GAAP financial
measures provides useful information to investors and others in understanding and evaluating Rover's operating results. Non-GAAP financial measures have limitations as an analytical tool, and you should not consider them in
isolation or as a substitute for analysis of Rover's results as reported under GAAP. For more information on how Rover uses these non-GAAP financial measures, why Rover considers them important measures, and their
limitations, see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations-Non-GAAP Measures" in Rover's Annual Report on Form 10-K for the year ended December 31, 2021 filed
with the SEC on March 21, 2022 and its Quarterly Report on Form 10-Q to be filed for the quarter ended June 30, 2022. See slide 29 for Rover's historical GAAP net income (loss) and net income (loss) margin and a reconciliation of
historical Adjusted EBITDA to net income (loss).
Use of Data
The data contained herein is derived from various internal and third-party industry publications and sources as well as from research reports prepared for other purposes. Rover has not independently verified the data obtained
from all these sources and cannot assure you of the data's accuracy or completeness. This data is subject to change. No representation is made as to the reasonableness of the assumptions made within or the accuracy or
completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. Rover assumes no obligation to
update the information in this presentation.
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