Fiscal 2024 3Q Revenue of $65.3 million, an 11% increase compared to last year including PetCareRx results.AutoShip & Save and PetPlus Membership, 52% of total revenue, up from 42% at the same time last year.Strong balance sheet with $49.4 million of cashThe Company is now current in all of its SEC filings DELRAY BEACH, Fla., April 15, 2024 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ:PETS)("PetMeds" or "Company"), Your Trusted Pet Health ExpertTM, today announced its financial results for its third qua ...

DELRAY BEACH, Fla., Feb. 16, 2024 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ:PETS), Your Trusted Pet Health Expert, is giving away a year's worth of free science-led Hill's Science Diet pet nutrition to three lucky winners. Those three winners will also get to select a pet shelter of their choice to receive a $1,000 credit to petmeds.com.  The giveaway will be open for entries on petmeds.com between February 16 and March 15, 2024. No purchase is necessary to win. The promotion comes in advance of Hill ...

Third quarter sales was $65.3 million, compared to sales of $58.9 million in the same period last year, representing growth of 11% year-over-year. The growth was due to incremental sales from the acquisition of PetCareRx partially offset by declines in PetMeds legacy new order and reorder sales. We continue to experience a single-digit decline in PetMeds legacy reorder sales. Despite having to correct this, I want to reiterate that our focus remains on operating the business and on executing our strategy. O ...

DELRAY BEACH, Fla., Jan. 29, 2024 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ:PETS) (the "Company"), Your Trusted Pet Health ExpertTM will hold a conference call on Thursday, February 8, 2024 at 4:30pm Eastern time to discuss its financial results for the fiscal third quarter ended December 31, 2023. Financial results will be issued in a press release prior to the call. PetMeds' management will host the conference call, followed by a question and answer period. Date: Thursday, February 8, 2024Time: 4:3 ...

DELRAY BEACH, Fla., Jan. 8, 2024 /PRNewswire/ -- PetMed Express, Inc. ("PetMeds®") (NASDAQ: PETS), Your Trusted Pet Health Expert™, announces the appointment of Leslie C. G. Campbell as Chairman of the Board effective January 5, 2024, as part of the company's ongoing Board composition and succession planning. Leslie Campbell Ms. Campbell has served on PetMeds' Board since 2018 and will continue to serve as Chair of the Compensation Committee and a member of the Audit and Corporate Governance and Nominat ...

PetMed Express, Inc. (NASDAQ:PETS) Q2 2024 Results Conference Call October 30, 2023 4:30 PM ET Company Participants Brian Prenoveau - MZ Group, IR Matt Hulett - CEO and President Christine Chambers - CFO Conference Call Participants Ryan Meyers - Lake Street Capital Operator Good afternoon, everyone, and thank you for joining the PetMed Express Second Quarter Earnings Conference Call. My name is Shamali, the operator for today's call. I would now like to pass the conference over to our host, Mr. Brian Preno ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number: 000-28827 ________________________ PETMED EXPRESS, INC. (Exact name of registrant as specified in it ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number: 000-28827 ________________________ PETMED EXPRESS, INC. (Exact name of registrant as specified in its cha ...

NASDAQ: PETS Safe Harbor & Non-GAAP Measures PetMeds cautions that the foregoing list of important factors is not complete, and any forward-looking statements speak only as of the date they are made. PetMeds undertakes no duty to update publicly any forward-looking statement that it may make, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority. 2 3 MISSION Additional products, higher LTV, expanded dist ...

Financial Data and Key Metrics - Revenue for Q1 2024 was $78 million, an 11% YoY increase compared to $70 million in Q1 2023, driven by the acquisition of PetCareRx and stabilization of the core PetMed business [40][45] - Gross profit margin improved to 28.8% in Q1 2024, up from 28.4% in Q1 2023 and 27.9% in the prior quarter [22] - Adjusted EBITDA for Q1 2024 was $3.3 million, down from $6.3 million in Q1 2023, primarily due to higher operating expenses and advertising costs [23] - Reorder sales grew 7% YoY to $68 million, representing 87% of total revenue [15][21] - Net loss for Q1 2024 was $0.9 million, or $0.04 per diluted share, compared to net income of $2.8 million, or $0.14 per diluted share, in Q1 2023 [47] Business Line Performance - The company added 86,000 new customers in Q1 2024, a 25% YoY increase, marking the third consecutive quarter of net new customer growth [16][21] - Recurring revenue, including AutoShip and PetCareRx membership programs, accounted for 49% of total revenue, up from 34% in Q1 2023 [41][46] - The integration of PetCareRx has expanded the product catalog, particularly in consumables like Purina's prescription food line, which is now available to PetMed customers [11][36] Market and Strategic Direction - The company is transitioning from a pet medication retailer to a comprehensive pet healthcare provider, focusing on four key pillars: medication, care, nutrition, and wellness [42][44] - PetMed is leveraging its partnership with Vetster to offer telemedicine services in over 25 states, with plans to expand to Arizona, Florida, Colorado, and California by Q4 2023 [43] - The company is launching a pet insurance product in partnership with Pumpkin Insurance, targeting the underpenetrated pet insurance market, which currently covers less than 5% of the pet population [17][19] Management Commentary - Management highlighted the successful integration of PetCareRx, which has improved supplier terms and direct manufacturing relationships, driving synergies and margin improvements [22][37] - The company is focused on achieving operating leverage by scaling revenue while maintaining stable fixed costs, with a goal of delivering sustainable long-term growth and profitability [26][51] - Management emphasized the importance of customer lifetime value (LTV) over average order value (AOV) as a key metric for success, particularly as the company expands its product offerings [68] Other Key Information - The company ended Q1 2024 with $61.5 million in cash and no debt, despite paying $63 million for the PetCareRx acquisition [48] - A $0.30 cash dividend was declared in June 2023, consistent with prior quarters, though management noted potential future shifts in capital allocation toward growth investments [48][77] Q&A Session Summary Question: What was the revenue contribution from the legacy PetMed business excluding PetCareRx? - The company did not provide a specific breakdown but noted that the legacy PetMed business experienced YoY growth on a standalone basis [65][66] Question: How is the stabilization of the returning customer base progressing? - The returning customer base for the legacy PetMed business showed a slight decline but is stabilizing, with reorder sales growing 7% YoY on a consolidated basis [57][74] Question: What are the expected synergies from the PetCareRx acquisition? - Synergies are expected to improve SG&A as a percentage of revenue, with gross margins remaining stable across both businesses [75] Question: What is the outlook for the dividend? - Management is balancing the need for capital to fuel growth opportunities with dividend payments, suggesting potential future shifts in capital allocation [77]