Company Overview - PetMed Express, Inc. is an online pet pharmacy that provides prescription and non-prescription medications, supplements, and pet supplies directly to consumers across the United States [3]. Allegations and Stock Impact - On June 10, 2025, PetMed announced a delay in releasing its fourth-quarter and full-year 2025 earnings due to the need for additional time to complete its year-end audit process, resulting in a stock price decline of $0.47, or 11.2%, closing at $3.72 per share on June 11, 2025 [3]. - On July 1, 2025, PetMed disclosed another delay in filing its annual report with the SEC, linked to an internal investigation by the Audit Committee regarding whistleblower complaints about revenue recognition, promotional coupon impacts, and company culture. This announcement led to a further stock price drop of $0.05, or 1.51%, closing at $3.27 per share on the same day [3]. Legal Investigation - Edelson Lechtzin LLP is investigating potential violations of federal securities laws involving PetMed, stemming from allegations of providing misleading business information to investors [1].

Core Viewpoint - PetMed Express, Inc. has received a notice from Nasdaq regarding non-compliance with listing rules due to the late filing of its Annual Report on Form 10-K for the fiscal year ending March 31, 2025 [1][3]. Group 1: Compliance and Filing Status - The notice indicates that the company must submit a plan to regain compliance within 60 days, by September 1, 2025, and may receive an extension of up to 180 days to regain compliance [3]. - The company filed a Notification of Late Filing on Form 12b-25, stating it was unable to file the Form 10-K on time due to ongoing efforts to compile and analyze necessary financial information [3][4]. - The company is working diligently to complete its financial statements and plans to file the Form 10-K as soon as possible to regain compliance with Nasdaq listing rules [4]. Group 2: Company Overview - PetMed Express, Inc. is a pioneer in the direct-to-consumer pet healthcare sector, operating as a national online pharmacy licensed across all 50 states [5]. - The company offers a comprehensive range of pet health solutions, including pharmaceuticals, compounded medications, and OTC supplements, focusing on value, convenience, and care for pet wellness [5].

Core Viewpoint - Block & Leviton is investigating PetMed Express, Inc. for potential securities law violations following a delayed 10-K filing and internal investigations into revenue recognition [2][4]. Group 1: Investigation Details - The investigation is prompted by concerns related to a Q4 promotional campaign and internal accounting controls [2]. - Block & Leviton may file an action to recover losses on behalf of investors who have lost money in PetMed Express [4]. Group 2: Eligibility and Contact Information - Any investor who purchased PetMed Express common stock and experienced a decline in share value may be eligible to participate in the investigation [3]. - Investors are encouraged to contact Block & Leviton for more information via their case website, email, or phone [5]. Group 3: Whistleblower Information - Individuals with non-public information about PetMed Express are encouraged to assist in the investigation or report to the SEC under the whistleblower program, potentially receiving rewards of up to 30% of any successful recovery [6]. Group 4: Firm Reputation - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors and representing many top institutional investors [7].

Core Viewpoint - PetMed Express, Inc. is currently unable to file its Form 10-K for the fiscal year ended March 31, 2025, due to ongoing investigations related to revenue recognition and customer complaints, but does not expect a material impact on its preliminary financial results [2]. Company Update - The Company filed a Form 12b-25 on June 16, 2025, indicating it would not meet the deadline for the 2025 Form 10-K filing [2]. - The Audit Committee is investigating anonymous reports regarding revenue recognition timing for autoship orders, a $50 coupon promotion, and the Company's culture and control environment [2]. - External legal counsel has been engaged for the investigation, which is ongoing with no conclusions reached yet [2]. - Despite the investigation, the Company believes it will not materially affect its previously announced preliminary financial results for the fourth quarter and fiscal year ended March 31, 2025 [2]. Company Background - PetMed Express, Inc. was founded in 1996 and is a pioneer in the direct-to-consumer pet healthcare sector [3]. - The Company operates as a national online pharmacy licensed across all 50 states, offering a range of pet health solutions including pharmaceuticals and OTC supplements [3]. - PetMeds aims to empower pet owners to enhance the health and wellness of their pets [3].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving PetMed Express, Inc. and its officers or directors [1] Group 1: Company Actions - On June 10, 2025, PetMed announced a delay in releasing its fourth quarter and fiscal year 2025 earnings due to the need for additional time to complete the year-end audit process [2] - Following the announcement, PetMed's stock price dropped by $0.47 per share, or 11.22%, closing at $3.72 per share on June 11, 2025 [2] Group 2: Legal Context - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of fighting for victims of securities fraud and corporate misconduct [3]

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against PetMed Express, Inc. for possible violations of federal securities laws and unlawful business practices [1]. Group 1: Company Announcement - On June 10, 2025, PetMed announced a delay in the release of its fourth quarter and fiscal year 2025 earnings due to the need for additional time to complete the year-end audit process [2]. - Following this announcement, PetMed's stock price dropped by $0.47 per share, or 11.22%, closing at $3.72 per share on June 11, 2025 [2]. Group 2: Legal Investigation - The law firm is reaching out to PetMed stockholders who may have suffered losses and are interested in learning more about potential claims [3]. - The firm emphasizes that there is no cost or obligation for stockholders to inquire about their rights or interests regarding these matters [3]. Group 3: Law Firm Background - Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California, representing individual and institutional investors in various types of litigation [4].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving PetMed Express, Inc. and its officers or directors [1] Group 1: Company Actions - On June 10, 2025, PetMed announced a delay in releasing its fourth quarter and fiscal year 2025 earnings due to the need for additional time to complete the year-end audit process [3] - Following the announcement of the delay, PetMed's stock price dropped by $0.47 per share, representing an 11.22% decline, closing at $3.72 per share on June 11, 2025 [3] Group 2: Legal Context - The Pomerantz Firm is recognized for its expertise in corporate, securities, and antitrust class litigation, having a history of fighting for victims of securities fraud and corporate misconduct [4]

Company Overview - PetMeds, founded in 1996, has over 11 million customers across the US[14] - PetMeds' strategic initiatives include pet telemedicine through Vetster[16] - The company's vision is for every pet to live a long, happy, healthy life, aiming to be the most trusted pet health expert[12] Financial Performance - In FY 2022, PetMeds' revenue was $273.4 million[17] - Net income for FY 2022 was $21.1 million[17] - Adjusted EBITDA for FY 2022 was $34.0 million[17] - AutoShip & Save subscriptions accounted for 42% of total revenue[17] Market Opportunity and Strategy - The total pet market in 2021 was $123 billion[22] - PetMeds is expanding into holistic health and wellness, including medication, care, wellness, and nutrition[18] - The company is pursuing growth through new customer acquisition, increased recurring subscription revenue, non-medication catalog expansion, and unique services[24]

Core Viewpoint - PetMed Express, Inc. has announced preliminary financial results for the fourth quarter and fiscal year 2025, indicating a significant decline in net sales and an increase in net loss compared to the previous year [1][2][3]. Financial Performance - For the fiscal fourth quarter ended March 31, 2025, net sales are estimated to be between $51.1 million and $53.1 million, down from $66.5 million in the prior year [2]. - The estimated net loss for the fourth quarter is between $9.9 million and $10.4 million, compared to a net loss of $5.0 million in the prior year [2]. - For the fiscal year ended March 31, 2025, net sales are estimated to range from $231.6 million to $233.6 million, a decrease from $281.1 million in the prior year [3]. - The estimated net loss for the fiscal year is between $4.5 million and $5.0 million, an improvement from a net loss of $7.5 million in the prior year [3]. - The net loss includes a tax expense impact of $6.4 million due to a valuation allowance on the Company's net deferred tax assets [2][3]. Cash Position - As of March 31, 2025, the Company reported $54.7 million in cash and no debt [4]. Filing Status - The Company has filed Form 12b-25 with the SEC, indicating it is unable to file its Annual Report on Form 10-K within the prescribed time period, but expects to do so by July 1, 2025 [1][5].

Core Points - PetMed Express, Inc. has announced a delay in the release of its fourth quarter and fiscal year 2025 earnings due to the need for additional time to complete the year-end audit process [1] - The company expects to issue the earnings release and hold the related conference call by June 16, 2025, at the latest [2] Company Overview - Founded in 1996, PetMed Express, Inc. is a leader in the digital pet pharmacy industry, operating as a national online retailer through PetMeds.com and PetCareRx.com [3] - The company provides a wide range of medications, food products, and essential supplies for pets, leveraging partnerships with veterinary professionals and telehealth services [3]