Wag! Group Co.

please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I'll now introduce your host, Greg Robles, with Investor Relations. Thank you. You may begin.

Good morning, everyone, and thank you for joining WAG Conference Call to discuss our fourth quarter and full year 2024 financial results. On the call today are Garrett Smallwood, Chief Executive Officer and Chairman, Adam Storm, President and Chief Product Officer, and Alec Davidian, Chief Financial Officer. Before we get started, please note that today's comments include forward-looking statements. These forward-looking statements are subject to risks and uncertainties and involve factors that could cause actual results to differ materially from those expressed or implied by such statements. A discussion of these risks and uncertainties are included in our filings with the SEC. We also remind you that we undertake no obligation to update the information contained on this call. These statements should be considered estimates only and are not a guarantee of future performance. Also, during the call, we present both GAAP and non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are available in our earnings release, which we issued today. The earnings release is available on the investor relations page of our website and is included in Exhibit and Form 8K furnished to the SEC. These non-GAAP measures are not intended to be a substitute for GAAP results. And with that, I'll now turn the call over to Garrett Smallwood.

Good morning, and thank you for joining us today to discuss our financial performance for the fourth quarter and full year of 2024. First, I will provide business updates and an overview of our results. Following that, Adam, our President and Chief Product Officer, will share brief updates on our strategic priorities. Then Alec, our Chief Financial Officer, will provide a more detailed analysis of our fourth quarter and full year 2024 results and discuss our capital allocation priorities. Before discussing our financial results, I'd like to provide an update on the strategic review process. This board-led initiative remains focused on identifying opportunities to enhance shareholder value and position the company for long-term success. Our board and management team remain confident in the strength of our business and our ability to execute our strategic plan. That said, we continue to evaluate a range of options and will maintain a disciplined and deliberate approach throughout this process. There is no set timeline for its conclusion, and we will provide updates as appropriate. Now moving to our results, we are encouraged by the forward momentum in our business. Wellness has normalized since Q3, and we have signed three new major distribution partners that we believe will accelerate demand within our insurance comparison business. These partnerships are expected to drive meaningful impact as they go live through Q1 and begin materializing in Q2. Additionally, we are realizing multiple positive tailwinds in our services marketplace, which is benefiting from increasing demand as more office workers return to in-person work. Operationally, we remain focused on managing the business efficiently. We continue to maintain strong gross margins and are integrating AI to automate rules and optimize headcount. Our intentional use of AI includes high-quality content creation and partnerships that enhance our ability to reach and convert customers. Additionally, we have seen stability in Google search trends, which is a positive indicator for our long-term customer acquisition efforts and a significant improvement from where we were in Q3. We remain committed to evaluating all strategic options and will continue to provide updates as appropriate.