Nebula Caravel Acquisition M&A Partner Rover Reports May 2021 Bookings 367K Vs 352K YoY

Benzinga
2021-06-09

A Place for Rover, Inc. ("Rover" or the "Company"), the world's largest online marketplace for pet care, today announced key metrics for the month ended May 31, 2021.

"We are excited to see so many pet parents turning to Rover to find care for their furry family members as they start to resume normal activities," said Rover CEO, Aaron Easterly. "In May, we set records for Gross Bookings Value (GBV) and U.S. new customer acquisition in the course of surpassing our 2019 comparable period. As a result of this improvement in booking trends, which is continuing into June, we are raising our full year projections."

May 2021 Metrics Highlights: Unless otherwise noted, all comparisons are relative to May 2019, due to the irregularity in our 2020 business metrics caused by COVID.

  • Total bookings of ~367,000, compared to ~352,000.
  • GBV of $45.4 million, compared to $38.3 million. This was Rover's largest GBV month ever, surpassing the previous high of $42.0 million achieved in July 2019.
  • Engaged pet care providers increased 5%, demonstrating healthy supply levels to meet the increased demand. Engaged pet care providers are those who have three or more bookings on the platform, and represent ~85% of bookings.
  • GBV from customers acquired prior to 2020 was ~70% of the level that would have been expected if there had been no pandemic, up from ~60% in April.

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