Source: BNP Paribas, Shelter Animals Count (The information contained herein was derived from data supplied interpretations, conclusions and opinions contained in the information presented.) According to an alternate source, PetPoint's 24PetWatch database, y/y adoption trends for both dogs and cats were volatile throughout 2025 (with cat slightly outperforming). From a multi-year perspective, trends are improving from -LDD reductions at the end of 2023 towards -LSD-MSD through much of 2025. Trends in cat appear to be outperforming dog, and while there may be several drivers of this, we'd highlight three possible explanations: (1) cost pressures for pet maintenance, including vet services, (2) discernible trends in adoption rates across the age spectrum, most notably in senior dogs and cats, and (3) length of stay by animal size, and