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  "documentTitle": "Rover | Investor Presentation Deck | 33 slides",
  "authorId": "rover",
  "authorName": "Rover",
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  "sourceTypeSlug": "investor_relations",
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  "presentationDate": "2023-11-01 00:00:00",
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  "pageNumber": 32,
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      "text": "Note: 2023 results have not been audited.\n1. Depreciation and amortization include amortization expense related to capitalized internal use software, which is recognized as cost of revenue (exclusive of depreciation and amortization shown separately) in the consolidated statements of operations\n2. Stock-based compensation expense includes equity granted to employees as well as non-employee directors\n3. Change in fair value, net includes the mark-to-market adjustments related to the Warrant liabilities in connection with the deSPAC transaction and the change in fair value of an equity method investment\n4. Acquisition and merger-related costs include accounting, legal, consulting and travel-related expenses incurred in connection with the Caravel merger and other business combinations\n5. Legal settlements includes the amount we accrued for a binding settlement term sheet executed in October 2022 related to worker classification claims\n6. The loss from equity method investments for the periods presented do not include income taxes as the equity method investee has not yet incurred any such taxes\n7. Impairment loss on intangible assets and goodwill includes the full write-off of intangible assets and goodwill related to GoodPup\n8. Net income (loss) margin is net income (loss) for a period divided by revenue for the same period\n9. Adjusted EBITDA margin is Adjusted EBITDA for a period divided by revenue for the same period",
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      "text": "Three Months Ended\nMar 31, 2022\nJun 30, 2022\nSep 30, 2022\nDec 31, 2022\nMar 31, 2023\nJun 30, 2023\nSep 30, 2023\n(in thousands)\nRevenue $ 27,824 $ 43,371 $ 50,864 $ 51,951 $ 41,120 $ 58,529 $ 66,203\nNet income (loss) $ (8,146) $ (3,632) $ (15,472) $ 5,271 $ (4,656) $ (253) $ 10,500\nAdd (deduct):\nDepreciation and amortization (1) 3,428 2,897 3,309 3,256 3,234 3,292 3,116\nStock-based compensation expense (2) 4,310 4,834 4,881 5,034 4,505 5,938 5,993\nInterest expense 18 24 19 19 18 18 15\nInterest income (139) (658) (1,287) (1,890) (2,423) (2,991) (3,152)\nChange in fair value, net (3) (4,579) (598) (314) (801)\nOther (income) expense, net 256 532 257 (428) (104) (2,024) 568\nIncome tax (benefit) expense 11 (227) 44 90 1 70 128\nAcquisition and merger-related costs (4) 80 410 168 158\nLegal settlements (5) 18,000\nLoss from equity method investments, net of tax (6) 325 273 314 351 316\nImpairment loss on intangible assets and goodwill (7) 6,916\nAdjusted EBITDA $ (4,761) $ 4,180 $ 10,244 $ 11,185 $ 575 $ 10,516 $ 17,484\nNet income (loss) margin (8) (29%) (8%) (30%) 10% (11%) 0% 16%\nAdjusted EBITDA margin (9) (17%) 10% 20% 22% 1% 18% 26%",
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      "kind": "title",
      "text": "Adjusted EBITDA reconciliation",
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