PetVivo (US:PETV)2025-11-14 21:00Revenue Performance - Revenues for the three months ended September 30, 2025, were $303,284, an increase from $200,720 in the same period of 2024, driven by sales of PrecisePRP™ products[146] - Sales of Spryng® products accounted for $186,902, while PrecisePRP™ products contributed $116,382 to total revenues for the three months ended September 30, 2025[146] - Total revenues for the six months ended September 30, 2025, were $600,784, up from $324,470 in the same period of 2024, driven by sales of PrecisePRP™ products[155] Cost and Expenses - Cost of sales increased to $83,226 for the three months ended September 30, 2025, compared to $21,162 in the same period of 2024, primarily due to the introduction of PrecisePRP™ products[147] - Operating expenses decreased to $2,285,425 for the three months ended September 30, 2025, from $2,352,598 in the same period of 2024, attributed to lower general and administrative and research and development expenses[148] - General and administrative ("G&A") expenses decreased to $1,236,730 for Q3 2025 from $1,267,117 in Q3 2024, reflecting cost-cutting initiatives[149] - Sales and marketing expenses increased to $787,262 in Q3 2025 from $620,307 in Q3 2024, driven by support for the launch of Spryng® and PrecisePRP™ products[150] - Research and development ("R&D") expenses decreased to $261,433 in Q3 2025 from $465,174 in Q3 2024, primarily due to reduced clinical studies[151] - Operating expenses decreased to $4,316,468 for the six months ended September 30, 2025, from $4,507,787 in 2024, mainly due to lower G&A and sales and marketing expenses[157] Net Loss - The net loss for the three months ended September 30, 2025, was $3,007,809, compared to a net loss of $2,175,493 for the same period in 2024[145] - Net loss for Q3 2025 was $3,007,809 or ($0.11) per share, compared to a net loss of $2,175,493 or ($0.11) per share in Q3 2024[154] Cash Flow and Assets - The company reported a net cash used in operating activities of $3,828,209 for the six months ended September 30, 2025, primarily due to the net loss and a decrease in accounts payable[166] - As of September 30, 2025, current assets were $2,109,723, with cash and cash equivalents at $767,914, while current liabilities were $1,052,694[164] Product Development and Market Presence - The company has a pipeline of therapeutic devices for both veterinary and human clinical applications, with plans to expand through acquisitions or in-licensing of proprietary products[142] - The company has entered into an Exclusive License and Supply Agreement with VetStem, allowing it to sell PrecisePRP™ products, enhancing its product offerings in the veterinary market[133] - Spryng® has been administered to over 2,000 horses and dogs since its introduction, demonstrating its market acceptance and effectiveness[140] - The company operates from an ISO 7 certified clean room manufacturing facility and plans to open a second facility to minimize supply risks and expand production capacity[141]