PetMed Express Earnings Reports

PetMed Express experienced a challenging fourth quarter in fiscal year 2025, with estimated net sales decreasing to a range of $51.1 million to $53.1 million from $66.5 million in the prior year, and an estimated net loss widening to $9.9 million to $10.4 million from $5.0 million. The net loss for the quarter included a significant $6.4 million tax expense impact from a valuation allowance on deferred tax assets. For the full fiscal year, net sales are estimated to be between $231.6 million and $233.6 million, down from $281.1 million, and the net loss is estimated to be $4.5 million to $5.0 million, an improvement from a $7.5 million net loss in the prior year, partly due to a one-time stock compensation reversal.

PetMed Express reported third-quarter results with net sales of $53.0 million. The company achieved an adjusted EBITDA of $2.0 million, a $1.1 million improvement year-over-year, while reducing G&A expenses by $2.6 million compared to last year. The gross margin rate increased by 80 basis points compared to the prior year period.

PetMed Express reported net sales of $59.6 million and a net income of $2.3 million, or $0.11 per diluted share, for the second quarter of fiscal year 2025. The company saw a gross margin of 29.1%, an increase of 0.8% compared to the prior year period. Adjusted EBITDA improved sequentially to $2.1 million.

PetMed Express reported a decrease in net sales but an increase in net income for Q1 2025. The increase in net income is primarily attributed to a reversal of accumulated stock compensation expense associated with the departure of the former CEO, offset by lower gross profit.

PetMed Express reported a net sales increase of 6.6% to $66.5 million for the quarter ended March 31, 2024, compared to $62.4 million in the prior year. However, the company experienced a net loss of $(5.0) million, or $(0.25) diluted earnings per share, compared to a net loss of $(0.2) million, or $(0.01) diluted earnings per share, for the prior year quarter.

PetMed Express reported an 11% increase in revenue to $65.3 million for the third quarter of fiscal year 2024, driven by the acquisition of PetCareRx, offset by declines in PetMeds legacy sales. However, the company experienced a net loss of $2.0 million, or $(0.10) per diluted share, compared to a net loss of $212 thousand, or $(0.01) per diluted share, in the prior year quarter. The company's cash position remains strong at $49.4 million, and they are now current in all SEC filings following the completion of their financial restatement.

PetMed Express reported a 9% increase in net sales to $71.0 million, driven by the acquisition of PCRx. New customers increased by 25% year over year. However, net loss was $70 thousand, compared to a net income of $2.6 million in the prior year. Adjusted EBITDA decreased by 55% to $3.2 million due to increased expenses.

PetMed Express reported an 11.5% increase in net sales, driven by a 25% increase in new customers, including those from the PetCareRx acquisition. However, the company experienced a net loss of $0.9 million, including $1.1 million in acquisition-related costs, compared to a net income of $2.8 million in the prior year quarter. Adjusted EBITDA decreased by 47% to $3.3 million.

PetMed Express reported a decrease in net sales for the quarter ended March 31, 2023, with $62.4 million compared to $66.0 million in the prior year. The company experienced a net loss of $(5.1) million, or $(0.25) diluted earnings per share, compared to a net income of $6.1 million, or $0.30 diluted earnings per share, for the prior year quarter. New customers increased by 12% year over year.

PetMed Express reported a decrease in net sales by 3.0% compared to the same quarter last year, but saw a 9% increase in new customers, marking the first customer increase in 2.5 years. The company experienced a net loss of $19.0 thousand, compared to a net income of $4.3 million in the prior year quarter. Adjusted EBITDA decreased by 64%.

PetMed Express reported a decrease in net sales by 3.0% and net income for the quarter was $2.6 million, or $0.13 diluted earnings per share. However, AutoShip & Save subscription sales increased to 39% of total sales.

PetMed Express reported a decrease in sales to $70.2 million compared to $79.3 million in the same period last year, impacted by a slow start to the flea and tick season. Net income also decreased to $2.8 million, or $0.14 diluted earnings per share, compared to $4.4 million, or $0.22 diluted earnings per share, in the prior year. Despite the sales decline, the company saw a rebound in sales from its returning customer base later in the quarter and is focusing on long-term growth through investments in infrastructure, partnerships, and expansion into the broader wellness market.

PetMed Express reported a decrease in net sales and net income for the quarter ended March 31, 2022. Net sales decreased by 7.9% to $66.0 million, and net income declined by 11% to $6.1 million, or $0.30 diluted earnings per share.

PetMed Express reported a decrease in net sales and net income for the quarter ended December 31, 2021. Net sales decreased by 7.9% to $60.7 million, and net income decreased by 44% to $4.3 million, or $0.21 diluted per share. The company is executing a business transformation across people, process, and product to develop into a broader expert health and wellness offering.

PetMed Express reported sales of $67.4 million for the second fiscal quarter ended September 30, 2021, a 10.7% decrease compared to the same period last year. Net income was $6.3 million, or $0.31 diluted per share, compared to $8.4 million, or $0.42 diluted per share for the same quarter last year. The company had $106.6 million in cash and cash equivalents with no debt.

PetMed Express reported a decrease in sales by 17.6% to $79.3 million compared to the same quarter last year, with net income decreasing by 43% to $4.4 million, or $0.22 diluted per share. The decrease in sales was attributed to decreased new order and reorder sales. The company acquired approximately 92,000 new customers in the first fiscal quarter.

PetMed Express reported a decrease in sales for the fourth quarter, with a slight decrease in net income. However, the company experienced overall growth in sales and net income for the full fiscal year. The decrease in sales for the quarter was attributed to colder weather and demand being pulled forward due to the pandemic.

PetMed Express reported a solid third quarter with increased sales and net income. Reorder sales drove growth, while new order sales decreased. The company is focused on its loyalty program and exploring new services.

PetMed Express reported a 7.9% increase in net sales and a 26.2% increase in net income for the quarter ended September 30, 2020. Reorder sales increased 9.6%, and gross margins improved sequentially from 27.8% to 30.5%.

PetMed Express reported a strong first quarter with a 20% increase in net sales, driven by the shift of consumers to online purchasing. Earnings per share increased by 47% due to sales growth and improved operating income margins.

PetMed Express reported a 15% increase in sales for the fourth fiscal quarter ended March 31, 2020, with net income rising to $7.0 million, or $0.35 diluted per share. The increase in sales was attributed to higher reorder and new order sales, driven by increased demand for e-commerce and the start of the peak season. The company acquired approximately 107,000 new customers during the quarter.