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]

PetMed Express, Inc. (NASDAQ:PETS) Q1 2022 Earnings Conference Call July 26, 2021 8:30 AM ET Company Participants Bruce Rosenbloom - Chief Financial Officer Gian Fulgoni - Chairman of the Board Conference Call Participants Ben Rose - Battle Road Research Erin Wright - Credit Suisse Anthony Lebiedzinski - Sidoti & Company Operator Welcome to the 1-800-PetMeds Conference Call to Review the Financial Results for the First Fiscal Quarter ended on June 30, 2021. At the request of the Company, this conference cal ...

PetMed Express, Inc. (NASDAQ:PETS) Q1 2023 Earnings Conference Call July 25, 2022 4:30 PM ET Corporate Participants Matthew Hulett - President and Chief Executive Officer Bruce Rosenbloom - Chief Financial Officer Conference Call Participants Erin Wright - Morgan Stanley Corey Grady - Jefferies Anthony Lebiedzinski - Sidoti & Company Operator Welcome to the PetMeds Conference Call to Review the Financial Results for the First Fiscal Quarter Ended June 30, 2022. At the request of the company, this conference ...

PetMed Express, Inc. (NASDAQ:PETS) Q2 2023 Earnings Conference Call November 7, 2022 4:30 PM ET Company Participants Matthew Hulett - President and CEO Christine Chambers - CFO Brian Prenoveau - IR Conference Call Participants Corey Grady - Jefferies Anthony Lebiedzinski - Sidoti & Company Operator Welcome to PetMed's Conference Call to Review the Financial Results for the Second Fiscal Year ended September 30, 2022. At the request of the company, this call is being recorded. Founded in 1996, PetMed is your ...

PetMed Express, Inc. (NASDAQ:PETS) Q3 2023 Earnings Conference Call February 6, 2022 4:30 PM ET Company Participants Brian Prenoveau - IR Matthew Hulett - President & CEO Christine Chambers - CFO Conference Call Participants Erin Wright - Morgan Stanley Corey Grady - Jefferies Anthony Lebiedzinski - Sidoti & Company Operator Good afternoon, everyone, and thank you for joining the PetMed Express Third Quarter Earnings Conference Call. My name is Doug, the operator for today's call. I would now like to pass t ...

NASDAQ: PETS Safe Harbor & Non-GAAP Measures 2 Your Trusted Pet Health Expert 3 VISION Every pet deserves to live a long, happy, healthy life Corporate Overview Vision: Founded in 1996, PetMeds is "Your Trusted Pet Health Expert" providing fast, easy and helpful service to over 11 million customers across the U.S. Company Highlights • Closed acquisition of PetCareRx in April 2023 • Strategic Initiatives in Pet Telemedicine (Vetster) and Pet insurance (Pumpkin) • AutoShip & Save increased to 44% of total rev ...

PetMed Express, Inc. (NASDAQ:PETS) Q4 2023 Earnings Conference Call May 22, 2023 4:30 PM ET Company Participants Brian Prenoveau - IR, MZ Group Matthew Hulett - President & CEO Christine Chambers - CFO Conference Call Participants Corey Grady - Jefferies Anthony Lebiedzinski - Sidoti & Company Operator Good afternoon, everyone, and thank you for joining the PetMed Express Third Quarter (sic) [Fourth Quarter] Earnings Conference Call. My name is Doug, the operator for today's call. I would now like to pass t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 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 nam ...

PetMeds 2.0 1) Adjusted EBITDA and adjusted EBITDA per share are non-GAAP financial measures. See "Non-GAAP Financial Measures" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. 12 Investment Highlights Expert well-known online pet pharmacy with over 2 million unique customers Strong market demand for pet medication in pet category resilient to economic headwinds Broader strategic plan – expansion of new customers, more products, unique and ...

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 December 31, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from _____________ to _____________ Commission file number: 000-28827 ________________________ PETMED EXPRESS, INC. (Exact name of registrant as specified in its ...