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Sep 30, 2022
PetMed Express Q2 2023 Earnings Report
Reported a decrease in net sales and net income compared to the same quarter last year, but saw growth in AutoShip & Save subscription sales.
Key Takeaways
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.
Net sales decreased by 3.0% to $65.4 million compared to the prior year's quarter.
Net income was $2.6 million, or $0.13 diluted earnings per share, including $1.3 million for non-operational items.
Adjusted EBITDA decreased by 28% to $7.1 million.
AutoShip & Save subscription sales increased to 39% of total sales from 34% in the prior quarter.
PetMed Express
PetMed Express
Forward Guidance
The press release contains forward-looking statements regarding the company's future performance and ability to meet its business objectives.