Loading...
•
Mar 31, 2023
PetMed Express Q4 2023 Earnings Report
Announced Q4 and fiscal year end financial results and declared a quarterly dividend of $0.30 per share.
Key Takeaways
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.
Net sales decreased by 5.4% compared to the fourth quarter of the prior year.
New customers increased 12% year over year.
Net loss was $(5.1) million, or $(0.25) diluted earnings per share.
Adjusted EBITDA was $3.6 million, a decrease of 61.8%.
PetMed Express
PetMed Express
Forward Guidance
PetMeds is focused on growth strategy, expanding product catalog, building recurring revenue, growing customer base, and adding differentiated services through partnerships. The company is confident that this process will begin to bear fruit as each component achieves scale.
Positive Outlook
- Strengthened the team
- Enhanced our systems
- Identified PetCareRx as a strategic acquisition opportunity
- Turned our focus to incorporating our newly added investments
- AutoShip & Save recurring revenue is the highest it's ever been at 44%