PetVivo (US:PETV)2026-02-17 21:32Revenue Performance - Revenues for the three months ended December 31, 2025, were $286,108, a decrease from $583,313 in the same period of 2024, primarily due to a lack of promotional discounts offered in December 2025 [145] - Total revenues for the nine months ended December 31, 2025, were $886,892, down from $907,783 in 2024, with sales of Spryng® products at $400,711 and PrecisePRP™ products at $486,181 [153] Cost of Sales - Cost of sales increased to $141,396 in Q3 2025 from $61,497 in Q3 2024, attributed to lower-margin purchases of PrecisePRP™ products [146] - Cost of sales increased to $335,396 for the nine months ended December 31, 2025, from $95,653 in 2024, due to lower-margin purchases associated with PrecisePRP™ products [154] Operating Expenses - Operating expenses rose to $2,336,167 in Q3 2025 compared to $2,280,221 in Q3 2024, driven by higher general and administrative and sales and marketing expenses [147] - Operating expenses decreased to $6,652,635 for the nine months ended December 31, 2025, from $6,788,008 in 2024, mainly due to lower general and administrative and R&D expenses [155] General and Administrative Expenses - General and administrative expenses were $1,252,406 in Q3 2025, up from $1,184,807 in Q3 2024 [148] Sales and Marketing Expenses - Sales and marketing expenses increased to $760,770 in Q3 2025 from $723,461 in Q3 2024, supporting the launch of Spryng® and PrecisePRP™ products [149] Research and Development Expenses - Research and development (R&D) expenses decreased to $322,991 for the three months ended December 31, 2025, from $371,953 in 2024, primarily due to decreased clinical studies [150] Profitability and Loss - The operating loss for the three months ended December 31, 2025, was $2,191,455, compared to $1,758,405 in 2024, attributed to decreased revenues [150] - Net loss for the three months ended December 31, 2025, was $2,191,455 or ($0.07) per share, compared to a net loss of $1,757,038 or ($0.09) per share in 2024, driven by decreased sales and increased expenses [152] Cash Flow and Capital Needs - Net cash used in operating activities was $5,294,904 for the nine months ended December 31, 2025, primarily due to the net loss of $7,510,301 [163] - The company anticipates needing to raise additional capital to support operations and commercialize products, with a recent private placement generating $5,000,000 [162] Current Assets and Liabilities - As of December 31, 2025, current assets were $1,383,278, with current liabilities of $988,421, resulting in working capital of $394,857 [161] Going Concern - The report expresses substantial doubt about the company's ability to continue as a going concern, highlighting minimal cash position and ongoing losses [167] Product Information - Sales of Spryng® products contributed $65,566 to revenues in Q3 2025, while PrecisePRP™ products accounted for $220,542 [145] - Spryng® is priced between $600 to $900 per joint and typically lasts for at least 12 months, providing an effective solution for osteoarthritis [136] - The company has entered into an exclusive licensing agreement with VetStem, Inc. for the sale of PrecisePRP™ products, which guarantees a consistent dose of 4 billion platelets per vial [135] - Osteoarthritis affects approximately 14 million dogs and 1 million horses in a $11 billion market, highlighting the significant opportunity for Spryng® [129] Future Growth Potential - The company has a pipeline of therapeutic devices for both veterinary and human clinical applications, anticipating growth through acquisitions or in-licensing [141]