Financial Data and Key Metrics Changes - For Q2 2020, sales increased to $75.4 million from $69.9 million in Q2 2019, representing a 7.9% increase [10] - Net income rose to $8.4 million or $0.42 diluted per share, compared to $6.7 million or $0.33 diluted per share in the prior year, marking a 26% increase [11] - Gross profit as a percentage of sales improved to 30.5% from 28.6% year-over-year [15] Business Line Data and Key Metrics Changes - Reorder sales increased by 9.6% to $67.8 million for the quarter, while new order sales decreased by 5% to $7.7 million [12][13] - The average order value was approximately $87 for the quarter, up from $85 in the same period last year [10] Market Data and Key Metrics Changes - Consumer demand settled down due to the reopening of vet clinics and pet retailers, along with consumers having stocked up in the previous quarter [8] - The company acquired approximately 96,000 new customers in Q2 2020, slightly down from 98,000 in Q2 2019 [13] Company Strategy and Development Direction - The company is focusing on redesigning its website and mobile app to enhance the digital experience for customers [70] - There is a shift towards higher-margin prescription medications, which now account for more than half of total sales [22][24] Management's Comments on Operating Environment and Future Outlook - Management noted that the demand has settled down with the reopening of clinics and stores, but reorder sales remain strong [28] - The impact of COVID-19 on future demand is uncertain, with management monitoring trends closely [28] Other Important Information - The company had $106.3 million in cash and cash equivalents and $21.5 million in inventory with no debt as of September 30, 2020 [18] - Advertising expenses increased to $5.1 million for the quarter, up from $4.8 million in the same quarter last year [17] Q&A Session Summary Question: What is the mix of over-the-counter versus prescription medications now? - Management indicated that prescription medications have increased and now account for over half of total sales [22][24] Question: How has COVID-19 affected customer behavior? - Management noted a shift in demand due to the reopening of vet clinics and stores, along with a temporary negative impact from the new website platform [26][28] Question: What is the expected completion date for the website improvements? - The target date for the completion of the website redesign is during the third quarter of the fiscal year [33] Question: What is driving the increase in advertising spending? - The increase in advertising spending is attributed to normalized increases in keyword search costs and competition [34] Question: Will gross margins continue to improve in the second half of the year? - Management expects modest year-over-year margin improvements, but noted that margins are assessed on an annual basis rather than quarterly [36][59]

PetMed Express, Inc. (NASDAQ:PETS) Q1 2020 Results Conference Call July 20, 2020 8:30 AM ET Company Participants Bruce Rosenbloom - CFO Mendo Akdag - President and CEO Conference Call Participants Anthony Lebiedzinski - Sidoti & Company Ben Rose - Battle Road Research Kevin Ellich - Ace Research Anthony Lebiedzinski - Sidoti & Company Operator Welcome to the PetMed Express Incorporated doing business as 1800PetMeds Conference Call to review the Financial Results for the First Fiscal Quarter Ended on June 30 ...

PetMed Express, Inc. (NASDAQ:PETS) Q4 2019 Earnings Conference Call May 4, 2020 8:30 AM ET Company Participants Bruce Rosenbloom - Chief Financial Officer Mendo Akdag - President and Chief Executive Officer Conference Call Participants Erin Wright - Credit Suisse Kevin Ellich - Ace Research Anthony Lebiedzinski - Sidoti & Company Ben Rose - Battle Road Research Operator Welcome to the PetMed Express Incorporated doing business as 1800PetMeds Conference Call to Review the financial results for the Fourth Fis ...

PetMed Express, Inc (NASDAQ:PETS) Q3 2019 Earnings Conference Call January 21, 2019 8:30 AM ET Company Participants Bruce Rosenbloom - Chief Financial Officer Mendo Akdag - President and Chief Executive Officer Conference Call Participants Kevin Ellich - Ace Research LLC Anthony Lebiedzinski - Sidoti & Company Operator Welcome to the PetMed Express Incorporated doing business as 1800PetMeds Conference Call to review the financial results for the Third Fiscal Quarter ended December 31, 2019. At the request o ...

PetMed Express, Inc (NASDAQ:PETS) Q2 2019 Earnings Conference Call October 21, 2019 8:30 AM ET Company Participants Bruce Rosenbloom - Chief Financial Officer Mendo Akdag - President and Chief Executive Officer Conference Call Participants Erin Wright - Credit Suisse Kevin Ellich - Craig-Hallum Anthony Lebiedzinski - Sidoti & Company Operator Welcome to the PetMed Express Inc. doing business as 1-800-PetMeds Conference Call to review the financial results for the Second Fiscal Quarter ended last September 3 ...

Financial Data and Key Metrics Changes - For Q1 2019, sales were $80 million, a decrease of 8.5% from $87.4 million in Q1 2018, attributed to declines in new order and reorder sales [8][9] - Net income for the quarter was $5.3 million or $0.26 diluted per share, down 57% from $12.6 million or $0.62 diluted per share in the same quarter last year [9][10] - Gross profit as a percentage of sales was 27.3%, down from 34.3% year-over-year, primarily due to price reductions in response to increased competition [12] Business Line Data and Key Metrics Changes - New order sales decreased by 23% to $12.2 million compared to $15.9 million in the prior year [10] - Reorder sales decreased by 5% to $67.7 million from $71.5 million year-over-year [10] - The average order value was approximately $86, down from $90 in the same quarter last year, reflecting price reductions [9] Market Data and Key Metrics Changes - Approximately 84% of sales were generated online, slightly down from 85% in the previous year [11] - The company acquired approximately 140,000 new customers in Q1 2019, compared to 169,000 in the same period last year [11] Company Strategy and Development Direction - The company plans to invest $5 million in its e-commerce platform to enhance user experience and competitiveness, with a target launch by late November or early December 2019 [23][50] - The company aims to establish direct relationships with all major manufacturers, expecting to complete this by the end of 2019 [21][40] - The focus will be on optimizing marketing strategies and improving advertising efficiency in a competitive environment [50] Management's Comments on Operating Environment and Future Outlook - Management indicated that gross margins may have bottomed out and expect pricing to stabilize due to manufacturers implementing minimum advertised price policies [19] - The company acknowledged increased online competition and aggressive pricing as significant challenges impacting sales and margins [9][10] Other Important Information - The company had $83.4 million in cash and cash equivalents and $30.2 million in inventory, with no debt as of June 30, 2019 [15] - Advertising expenses increased by 29% to $8.6 million, attributed to the re-addition of television advertising [13] Q&A Session Summary Question: What is the outlook for gross margins? - Management believes gross margins may have bottomed out and expects improvements in the next six months due to market stabilization [19][20] Question: Are volume-based discounts impacting gross margins? - Management anticipates that gross margins should improve in future quarters despite current discounts [20] Question: What is the status of direct relationships with manufacturers? - Only one manufacturer remains to establish a direct relationship, expected to be completed within two months [21] Question: What is the competitive landscape like? - The primary competition is from online retailers, affecting both prescription and OTC products [37] Question: What strategies are in place to retain customers? - The company is focusing on improving customer retention through better marketing and a high net promoter score of 83% [29] Question: What are the cash flow priorities? - The company has approximately $29 million remaining in its stock buyback plan and continues to pay dividends while investing in the e-commerce platform [31]