Loading...
•
Jun 30, 2023
PetMed Express Q1 2024 Earnings Report
Reported an increase in revenue and new customers, but experienced a net loss due to acquisition-related costs.
Key Takeaways
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.
Net sales increased by 11.5% year-over-year to $78.2 million.
New customers increased by 25% year-over-year, marking the third consecutive quarter of growth.
Net loss was $(0.9) million, or $(0.04) per diluted share, including $1.1 million of acquisition related costs.
Adjusted EBITDA decreased by 47% to $3.3 million.
PetMed Express
PetMed Express
Forward Guidance
No specific forward guidance was provided in the press release.