Group 1: Campaign Overview - Greater Good Charities and Bally Bet collaborated to raise 1 million meals for shelter pets across the country during the football season [1][2] - The campaign engaged football fans and pet lovers through social media, resulting in 50 to 100 pet meals donated per interaction [2] Group 2: Impact and Contributions - The partnership with the Cleveland Browns contributed an additional 1,000 pet meals for every point scored during games [2] - Greater Good Charities has invested over $750 million in impact since 2007, supporting charitable partners in 121 countries [4] Group 3: Company Profiles - Bally's Corporation operates 19 casinos across 11 states and has a growing omni-channel presence, including a sports betting platform [5] - Greater Good Charities is a 501(c)(3) nonprofit organization focused on helping people, pets, and the planet [4]

Financial Data and Key Metrics Changes - Net sales for Q3 2025 were $53 million, a 19% decline from $65.3 million in the same period last year, primarily due to a 34% reduction in gross advertising [25] - Gross profit decreased to $14.9 million from $17.9 million year-over-year, with gross profit as a percentage of sales improving by 80 basis points to 28.1% [25][26] - General and administrative expenses decreased by 19.7% to $10.8 million from $13.4 million last year, driven by lower stock-based compensation and payroll expenses [26] - Net loss for the quarter was $700,000 or $0.03 per diluted share, an improvement from a net loss of $2 million or $0.10 per diluted share in the prior year [28] Business Line Data and Key Metrics Changes - The company achieved $2 million in adjusted EBITDA, up from $900,000 in the prior year period, indicating improved operational efficiency [28] - The average order value (AOV) increased by 7% to $108 from $101 year-over-year, while shipped order AOV rose by 4.3% to $97 from $93 [13] Market Data and Key Metrics Changes - Approximately 63,000 new customers received orders during the quarter, contributing to customer base growth despite overall revenue decline [25] - Inventory efficiency improved, with inventory turn rising to 1.5% in Q3 from 0.9% last year, alongside a 66% reduction in total inventory on hand to $11.8 million [15] Company Strategy and Development Direction - The company is focused on repositioning itself as a leader in consumer pet healthcare, emphasizing digital shopping enhancements and operational efficiency [7][12] - Cost-cutting measures and consolidation strategies are in place, targeting $5 million in annualized savings [8] - The company is modernizing its technology stack and enhancing customer experience to capture a younger demographic, particularly millennials and Gen Z [54] Management's Comments on Operating Environment and Future Outlook - Management noted that customers are under pressure, with reduced visits to veterinarians and some decline in prescriptions, but higher-income households continue to spend [44][47] - The competitive landscape remains dynamic, and the company is executing a disciplined transformation to enhance customer experience and operational infrastructure [21][22] Other Important Information - The company has resolved operational issues related to order management systems and is investing in technology to ensure a secure digital ecosystem [20] - Marketing strategies are being refined to focus on sustainable, profitable growth, with a reset of the marketing foundation planned [18][58] Q&A Session Summary Question: Clarification on new customer count and growth rates - Management confirmed that 63,000 new customers received orders in the quarter, ensuring clarity on customer count definitions [33] Question: Impact of SKU rationalization on revenue growth - Management indicated that SKU optimization did not significantly impact revenue, as many underperforming SKUs were drop-shipped and not directly tied to sales [36] Question: Trends in customer spending and market outlook - Management acknowledged that customers are pressured but noted that higher-income consumers continue to spend consistently [44][47] Question: Future marketing investments and revenue growth strategies - Management discussed the importance of foundational investments in customer experience before ramping up marketing spend to drive revenue growth [58][60]

Financial Performance - For the three months ended December 31, 2024, the net loss was $707,000, a significant improvement from a net loss of $2,027,000 for the same period in 2023, representing a 65% decrease [101]. - Gross profit margin increased to 28.1% for the three months ended December 31, 2024, compared to 27.4% for the same period in 2023 [94]. - Adjusted EBITDA for the three months ended December 31, 2024, was $2,002,000, a 116% increase from $925,000 in the same period of 2023 [101]. - The company reported a net income of $5,373,000 for the nine months ended December 31, 2024, compared to a net loss of $2,448,000 for the same period in 2023 [102]. - Gross profit decreased by approximately $3.0 million, or 16.6%, to approximately $14.9 million for the quarter ended December 31, 2024, from approximately $17.9 million for the same quarter in 2023 [112]. Sales and Customer Metrics - Net sales decreased by approximately $12.3 million, or 18.9%, to approximately $53.0 million for the quarter ended December 31, 2024, compared to approximately $65.3 million for the same quarter in 2023 [103]. - Reorder sales decreased by approximately $9.0 million, or 16.6%, to approximately $45.1 million for the quarter ended December 31, 2024, compared to approximately $54.1 million for the same quarter in 2023 [104]. - New order sales decreased by approximately $2.7 million, or 31.0%, to approximately $6.1 million for the quarter ended December 31, 2024, compared to $8.8 million for the same quarter in 2023 [105]. - The company acquired approximately 63,000 new customers for the quarter ended December 31, 2024, compared to approximately 97,000 new customers for the same quarter in 2023 [106]. - Recurring net sales, including AutoShip & Save subscriptions and membership revenue, as a percentage of total gross sales was 56.2% for the quarter ended December 31, 2024, up from 52.2% for the same period last year [109]. Cost Management - Total operating expenses decreased to 29.0% of sales for the three months ended December 31, 2024, down from 32.1% in the prior year [94]. - Cost of sales as a percentage of sales decreased to 71.9% for the three months ended December 31, 2024, from 72.6% in the same period of 2023 [94]. - Advertising expenses as a percentage of sales decreased to 5.6% for the three months ended December 31, 2024, from 8.8% in the same period of 2023 [94]. - General and administrative expenses decreased by approximately $2.6 million, or 19.7%, to approximately $10.8 million for the quarter ended December 31, 2024, from approximately $13.4 million for the same quarter in 2023 [113]. - Advertising expenses decreased by approximately $2.8 million, or 48.2%, to approximately $3.0 million for the quarter ended December 31, 2024, from approximately $5.8 million for the same quarter in 2023 [115]. Economic Outlook - The company expects macroeconomic factors, including inflation and rising interest rates, to continue impacting revenue growth rates for the remainder of fiscal 2025 [92]. Cash and Capital Management - The company believes that its cash and cash equivalents will be sufficient to continue operations for at least the next twelve months [121]. - As of December 31, 2024, the company held $50.1 million in cash and cash equivalents, which generate interest income based on prevailing interest rates [126]. - A significant change in interest rates could impact the interest income generated from excess cash and cash equivalents [126]. - The company has no debt obligations as of December 31, 2024 [126]. - The primary source of working capital is cash from operations, with no alternative sources currently available [125]. - The company anticipates funding future capital expenditures from working capital funds [125]. Corporate Governance - The Board of Directors has elected to suspend the quarterly dividend indefinitely to focus on growth initiatives and higher return projects [123]. - The company has no material long-term or short-term commitments for capital expenditures, relying on working capital for necessary additions [125]. - As of December 31, 2024, the company had $1.1 million in outstanding lease commitments from the PetCareRx acquisition [124]. - Cash and cash equivalents are managed by a limited number of outside professional managers under investment guidelines set by the Board of Directors [126]. - The company does not hold any derivative financial instruments that could expose it to significant market risk [126].

Financial Performance - Net sales for the third quarter were $53.0 million, a decrease from $65.3 million in the prior year period[10] - Gross margin rate improved to 28.1%, an increase of 80 basis points year-over-year[10] - Adjusted EBITDA reached $2.0 million, up from $0.9 million in the same quarter last year, reflecting a $1.1 million improvement[10] - The company reported a net loss of $0.7 million for the quarter, compared to a net loss of $2.0 million in the prior year[16] - For the three months ended December 31, 2024, the company reported a net loss of $707,000, a decrease of 65% compared to a net loss of $2,027,000 in the same period of 2023[27] - Adjusted EBITDA for the same period was $2,002,000, representing a 116% increase from $925,000 in the prior year[27] - For the nine months ended December 31, 2024, the company achieved a net income of $5,373,000, a significant improvement from a net loss of $2,448,000 in the same period of 2023[29] - Adjusted EBITDA for the nine months ended December 31, 2024, was $2,563,000, a decrease of 67% from $7,697,000 in the previous year[29] Expenses and Liabilities - General and administrative expenses were reduced by $2.6 million compared to the previous year[4] - Cash and cash equivalents at the end of the period were $50.1 million, down from $55.3 million at the beginning of the period[19] - Total current liabilities decreased to $47.96 million from $72.16 million year-over-year[13] - The company experienced a net cash used in operating activities of $2.29 million for the nine months ended December 31, 2024[19] - Stock-based compensation for the three months ended December 31, 2024, was $452,000, down 74% from $1,708,000 in the same period of 2023[27] - The company incurred employee severance costs of $209,000 for the three months ended December 31, 2024, with no such costs reported in the same period of 2023[27] Operational Focus and Future Outlook - The company is focused on driving differentiation and sustainable growth through operational excellence and financial discipline[4] - Future outlook includes continued progress on key initiatives supporting the transformation of the business[10] Adjusted EBITDA Considerations - The company noted that adjusted EBITDA should be considered supplemental to GAAP measures, highlighting its limitations in reflecting capital expenditure requirements and other non-operating expenses[25] - The company emphasized that adjusted EBITDA calculations may vary among companies in the industry, which affects comparability[24] Interest and Tax Expenses - Interest income for the three months ended December 31, 2024, was a net expense of $28,000, compared to a net expense of $136,000 in the same period of 2023, reflecting a 79% improvement[27] - The company reported a sales tax expense of $228,000 for the three months ended December 31, 2024, which was a 100% decrease from $228,000 in the same period of 2023[27]

Core Insights - PetMed Express, Inc. reported significant progress in its transformation journey, achieving $2 million in Adjusted EBITDA for the third quarter of fiscal 2025, a $1.1 million improvement year-over-year [3][7] - The company successfully reduced general and administrative expenses by $2.6 million compared to the previous year, indicating a focus on operational efficiency [3] - Net sales for the third quarter were $53.0 million, with a gross margin rate of 28.1%, reflecting an increase of 80 basis points from the prior year [7][12] Financial Performance - Adjusted EBITDA for the third quarter was $2.0 million, compared to $0.9 million in the prior year period, marking a 116% increase [7][22] - Net sales decreased from $65.3 million in the same quarter last year to $52.98 million this year, while cost of sales also decreased from $47.43 million to $38.08 million [12] - The company reported a net loss of $707,000 for the quarter, an improvement from a net loss of $2.03 million in the same quarter last year [12][22] Balance Sheet Highlights - As of December 31, 2024, total assets were $144.8 million, down from $169.9 million as of March 31, 2024 [10][11] - Current liabilities decreased significantly from $72.2 million to $48.0 million, indicating improved liquidity [10][11] - Shareholders' equity remained relatively stable at $96.2 million compared to $96.7 million in the previous period [11] Cash Flow Analysis - The company reported a net cash used in operating activities of $2.3 million for the nine months ended December 31, 2024, compared to $2.8 million for the same period last year [14] - Cash flows from investing activities showed a net cash outflow of $2.7 million, down from $39.4 million in the previous year, indicating a reduction in capital expenditures [14] - Cash and cash equivalents at the end of the period were $50.1 million, down from $55.3 million at the beginning of the period [15]

Core Viewpoint - PetMed Express, Inc. will hold a conference call on February 10, 2025, to discuss its financial results for the fiscal third quarter ended December 31, 2024 [1]. Group 1: Conference Call Details - The conference call is scheduled for February 10, 2025, at 4:30 PM Eastern Time [2]. - U.S. dial-in number for the call is 877-407-0789, and the international number is 201-689-8562 [2]. - A telephonic replay will be available after 7:30 PM Eastern Time on the same day through February 24, 2025 [2][3]. Group 2: Company Overview - PetMed Express, Inc. is a leader in the consumer pet healthcare sector, founded in 1996 [3]. - The company operates as a national online retailer, providing top branded pharmaceuticals, generics, compounded prescription medications, and OTC supplements and vitamins [3]. - PetMeds leverages telehealth and insurance partnerships to enhance wellness and longevity for pets, including dogs, cats, and horses [3].

Company Overview - PetMed Express, Inc. operates as a leader in the consumer pet healthcare sector, providing a range of pet health products through its online platforms PetMeds.com and PetCareRx.com [3] - The company was founded in 1996 and has established itself as a national online retailer with expert pharmacists and licenses across all fifty states [3] - PetMed Express offers top branded pharmaceuticals, generics, compounded prescription medications, and OTC supplements and vitamins aimed at enhancing the health and longevity of pets [3] Upcoming Events - PetMed Express will participate in the 27th Annual ICR Conference scheduled for January 13-15, 2025, in Orlando, Florida [1] - CEO Sandra Campos and CFO Robyn DâElia will present to investors on January 13, 2025, at approximately 11:00 a.m. Eastern Time [2] - A live webcast of the presentation will be accessible on the company's investor relations website [2]

Company Overview - Rescued Pets Movement Inc. (RPM) is the largest homeless animal rescue, rehabilitation, and transport nonprofit in the United States, having saved approximately 92,000 homeless animals since its founding in September 2013 [1][10] - RPM focuses on rescuing at-risk pets from overcrowded shelters in the Houston area, providing veterinary care, and transporting them to regions with higher demand for adoptable pets [1][10] Recent Developments - RPM has been selected by Main Street Capital Corporation as its charity of choice for the NYSE's 2024 Global Giving Campaign, which will enhance RPM's operations and support its mission [6][7] - In 2024 alone, RPM has already rescued 7,350 animals, contributing to its total of approximately 92,000 rescues since inception [2][10] Partnership with Main Street Capital - Main Street Capital is committed to providing financial support and volunteer resources to RPM, aligning with its corporate social responsibility initiatives [7][8] - Main Street's employees are actively engaged in volunteer opportunities with RPM, assisting in various operations including animal care and community outreach [7][8] Mission and Impact - RPM aims to create a world where every animal is valued and loved, transforming the lives of countless animals through dedicated rescue efforts and transport initiatives [2][10] - The partnership with Main Street Capital allows RPM to expand its medical services, improve boarding facilities, and ensure safe transportation for the animals [2][7]

Core Viewpoint - PetMed Express, Inc. has adopted a limited duration shareholder rights plan to protect the interests of its shareholders during a period of significant stock accumulation by certain shareholders, believing that the current share price does not reflect the company's inherent value or long-term growth potential [1][2]. Summary by Sections Rights Plan Adoption - The Board of Directors has implemented a Rights Plan to enable shareholders to realize the long-term value of their investments and to prevent any entity from gaining control without compensating all shareholders appropriately [2][3]. Rights Plan Details - The Rights Plan will issue one right for each outstanding share of common stock to shareholders of record on December 16, 2024, and will be effective immediately, expiring on December 2, 2025, unless terminated earlier [5]. - Rights become exercisable if an acquiring person obtains 12.5% or more of the outstanding shares without Board approval, allowing existing right holders to purchase shares at a 50% discount [6]. Exemptions and Conditions - Existing shareholders who own 12.5% or more prior to the announcement of the Rights Plan will not face penalties as long as they do not increase their ownership [7]. - The Rights Plan does not interfere with any Board-approved sales, mergers, or other business combinations [4]. Company Overview - PetMed Express, Inc. is a leader in the consumer pet healthcare sector, providing a range of pharmaceuticals and health products for pets through its online platforms [9][10].

Group 1 - PetMed Express (NASDAQ: PETS) experienced a significant stock surge of approximately 35.8% on November 7 [1] - The surge in stock price is attributed to recent developments related to the online pet pharmacy [1] Group 2 - No specific financial metrics or future projections were provided in the article [2] - The article does not include any investment recommendations or advice [2] - The author has no financial interest in PetMed Express or any related companies mentioned [2]