DELRAY BEACH, Fla., Nov. 06, 2024 (GLOBE NEWSWIRE) -- PetMed Express, Inc. dba PetMeds and parent company of PetCareRx (NASDAQ: PETS) today announced its financial results for its second quarter ended September 30, 2024. Second Quarter Fiscal 2025 Financial Highlights Net sales of $59.6 million.Gross margin of 29.1%, an increase of 0.8% compared to the prior year period.Net income of $2.3 million, or $0.11 per diluted share, compared to net income of $0.7 million, or $0.03 per diluted share, in the prior ye ...

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Financial Data and Key Metrics Changes - For Q1 fiscal year 2025, sales were $68 million, a 13% decline from $78.2 million in the same period last year, primarily driven by lower prescription medication sales [22] - Gross profit margin decreased to 26.4% from 28.8% year-over-year, attributed to higher promotional activity [22] - Adjusted EBITDA reflected a loss of $1.5 million compared to a profit of $3.1 million in the same period last year [22] - Net income for the first quarter was $3.8 million or $0.18 per diluted share, compared to a net loss of $1.1 million or $0.06 per diluted share for the same period last year [23] Business Line Data and Key Metrics Changes - The company reported approximately 75,000 new customers in Q1, down from 86,000 in the same period last year [22] - Operational efficiency improved with a 20% increase in inventory turns and an 11% reduction in ending inventory compared to last year [8] Market Data and Key Metrics Changes - The U.S. pet market grew 7% in 2023, exceeding $150 billion annually, with a significant portion driven by veterinary care and prescription medication [21] Company Strategy and Development Direction - The company is focusing on enhancing operational performance, optimizing cost structure, and improving shareholder returns [6] - Strategic initiatives include consolidating operations between PetMed and PetCareRx, enhancing technology, and improving customer experience [11][12] - The leadership team is committed to transforming PetMed and PetCareRx into a dynamic ecosystem for pet products and services [12] Management's Comments on Operating Environment and Future Outlook - Management noted macroeconomic pressures affecting consumer spending, leading to fewer visits to veterinary clinics and lower prescription sales [25] - Despite challenges, management expressed confidence in capturing a larger share of the $150 billion pet care market through improved customer engagement and technology [27] - Early indicators show stabilization in revenue and improvement in conversion rates and margins [28] Other Important Information - The company has a strong balance sheet with $53 million in cash and no debt as of early August [24] - Recent technology improvements have led to a reduction in call wait times and improved order processing efficiency [32][20] Q&A Session Summary Question: What macro pressures drove the 13% revenue decline? - Management identified fewer visits to veterinary clinics and increased consumer requests for promotions as key macro issues affecting revenue [25] Question: How confident is the company in driving growth despite macro pressures? - Management expressed confidence in their strategies to engage customers and improve service, believing they are just beginning to tap into the market potential [27] Question: What technology issues contributed to the softness during the quarter? - Management explained that disruptions from a new order management system led to longer hold times and wait times for customer service, which have since been addressed [31][32]

DELRAY BEACH, Fla., July 23, 2024 (GLOBE NEWSWIRE) -- PetMed Express, Inc., dba PetMeds and parent company of PetCareRx, (NASDAQ:PETS) will hold a conference call on Tuesday, August 6, 2024 at 4:30pm Eastern time to discuss its financial results for the fiscal first quarter ended June 30, 2024. Financial results will be issued in a press release prior to the call. Date: Tuesday, August 6, 2024 Time: 4:30pm Eastern time (1:30pm Pacific time) U.S. dial-in number: 844-826-3035 International number: 412-317-519 ...

Investors can contact the law firm at no cost to learn more about recovering their losses Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recover their losses. On this news, PetMed's stock price fell $0.54 per share, or 11.46%, to close ...

The investigation concerns whether PetMed and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. On June 11, 2024, PetMed issued a press release announcing its financial results for its fourth quarter and fiscal year 2024. Among other items, PetMed reported a net loss per share of $0.25, compared to a net loss per share of $0.01 in the year-ago period. Although PetMed reported a net increase in sales year over year, that was outweighed by an incre ...

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (561) 526-4444 Securities registered pursuant to ...

Quarterly Highlights Net sales for the quarter ended March 31, 2024, were $66.5 million, compared to $62.4 million for the fourth quarter in the prior year, an increase of 6.6%, driven by the acquisition of PetCareRx partially offset by a decline in PetMeds legacy sales. Net loss for the quarter ended March 31, 2024 was $(5.0) million, or $(0.25) diluted earnings per share. This compares to net loss of $(0.2) million, or $(0.01) diluted earnings per share, for the prior year quarter ended March 31, 2023. Th ...

DELRAY BEACH, Fla., June 11, 2024 (GLOBE NEWSWIRE) -- PetMed Express, Inc. dba PetMeds and parent company of PetCareRx (NASDAQ: PETS) today announced its financial results for its fourth quarter and fiscal year ended March 31, 2024. Net sales for the quarter ended March 31, 2024, were $66.5 million, compared to $62.4 million for the fourth quarter in the prior year, an increase of 6.6%, driven by the acquisition of PetCareRx partially offset by a decline in PetMeds legacy sales. Net loss for the quarter end ...