Loading...
•
Mar 31, 2024
PetMed Express Q4 2024 Earnings Report
PetMed Express announced its financial results for the fourth quarter and fiscal year ended March 31, 2024.
Key Takeaways
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.
Net sales for the quarter increased by 6.6% to $66.5 million, driven by the acquisition of PetCareRx, partially offset by a decline in PetMeds legacy sales.
Net loss for the quarter was $(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.
Adjusted EBITDA was $0.5 million for the current year quarter, compared to $3.6 million for the quarter ended March 31, 2023.
Strategic priorities for FY2025 are focused on driving growth, improving profitability, and increasing key customer satisfaction metrics through consolidating business operations, enhancing marketing, and leveraging technology.
PetMed Express
PetMed Express
Forward Guidance
Looking ahead to FY2025, PetMed Express's strategic priorities are focused on driving growth, improving profitability, and increasing key customer satisfaction metrics.
Positive Outlook
- Consolidating business operations will simplify our structure
- Reduce cost
- Strengthen alignment across the organization
- Sharpen and amplify our messaging with a comprehensive marketing plan
- Create efficiencies by leveraging investments in modern customized technology frameworks