Core Viewpoint - PetMed Express, Inc. has announced the resignation of its CEO Sandra Campos and CFO Robyn D'Elia, leading to interim leadership changes as the company searches for new executives [1][2]. Leadership Changes - Leslie C.G. Campbell, Chair of the Board, has taken on the role of Interim CEO, while Douglas Krulik, Chief Accounting Officer, is now the Interim Principal Financial Officer [2]. - The company is actively seeking candidates for both the CEO and CFO positions [2]. Separation Agreements - Both Campos and D'Elia have entered into separation agreements that include severance payments equivalent to their current base salary for thirteen months and accelerated vesting of some unvested restricted stock units [3]. - They will also provide consulting services to the company for three months on an as-needed basis [3]. Board of Directors Adjustments - Following Campos's resignation, she also stepped down from the Board of Directors, reducing the board size to five members [4]. - Campbell will remain as Chair of the Board but will resign from the Audit Committee and the Compensation and Human Capital Committee [4]. - Justin Mennen has been appointed as Lead Independent Director, with Peter Batushansky and Leah Solivan taking over as Chairs of the Audit Committee and Compensation and Human Capital Committee, respectively [4]. Company Overview - PetMed Express, Inc. is a pioneer in the direct-to-consumer pet healthcare sector, offering a wide range of pet health solutions, including pharmaceuticals and OTC supplements [5]. - The company is licensed across all 50 states and aims to support pet wellness through its online pharmacy services [5].

Core Viewpoint - PetMeds has partnered with the myBalto Foundation to support pets in need through a fundraising drive that raised nearly $45,000, highlighting the importance of financial support for veterinary care [1][2][3] Company Overview - PetMeds, founded in 1996, is a pioneer in the direct-to-consumer pet healthcare sector, licensed across all 50 states, and offers a wide range of pet health solutions including pharmaceuticals and OTC supplements [4] - The company aims to empower pet parents to ensure their pets live longer, healthier lives through value, convenience, and care [4] myBalto Foundation - myBalto is a platform that enables veterinary hospitals to create custom Angel Funds, providing financial support to pet owners facing hardships, thereby reducing the rate of financial euthanasia [5] - The foundation's Angel Funds offer swift and flexible support for emergency veterinary care, reflecting a commitment to pet health and welfare [3][5]

Core Viewpoint - PetMed Express, Inc. is currently unable to file its Form 10-K for the fiscal year ended March 31, 2025, due to ongoing investigations related to revenue recognition and customer complaints, but does not expect a material impact on its preliminary financial results [2]. Company Update - The Company filed a Form 12b-25 on June 16, 2025, indicating it would not meet the deadline for the 2025 Form 10-K filing [2]. - The Audit Committee is investigating anonymous reports regarding revenue recognition timing for autoship orders, a $50 coupon promotion, and the Company's culture and control environment [2]. - External legal counsel has been engaged for the investigation, which is ongoing with no conclusions reached yet [2]. - Despite the investigation, the Company believes it will not materially affect its previously announced preliminary financial results for the fourth quarter and fiscal year ended March 31, 2025 [2]. Company Background - PetMed Express, Inc. was founded in 1996 and is a pioneer in the direct-to-consumer pet healthcare sector [3]. - The Company operates as a national online pharmacy licensed across all 50 states, offering a range of pet health solutions including pharmaceuticals and OTC supplements [3]. - PetMeds aims to empower pet owners to enhance the health and wellness of their pets [3].

Core Viewpoint - PetMed Express, Inc. has announced preliminary financial results for the fourth quarter and fiscal year 2025, indicating a significant decline in net sales and an increase in net loss compared to the previous year [1][2][3]. Financial Performance - For the fiscal fourth quarter ended March 31, 2025, net sales are estimated to be between $51.1 million and $53.1 million, down from $66.5 million in the prior year [2]. - The estimated net loss for the fourth quarter is between $9.9 million and $10.4 million, compared to a net loss of $5.0 million in the prior year [2]. - For the fiscal year ended March 31, 2025, net sales are estimated to range from $231.6 million to $233.6 million, a decrease from $281.1 million in the prior year [3]. - The estimated net loss for the fiscal year is between $4.5 million and $5.0 million, an improvement from a net loss of $7.5 million in the prior year [3]. - The net loss includes a tax expense impact of $6.4 million due to a valuation allowance on the Company's net deferred tax assets [2][3]. Cash Position - As of March 31, 2025, the Company reported $54.7 million in cash and no debt [4]. Filing Status - The Company has filed Form 12b-25 with the SEC, indicating it is unable to file its Annual Report on Form 10-K within the prescribed time period, but expects to do so by July 1, 2025 [1][5].

Core Viewpoint - PetMed Express, Inc. will hold a conference call to discuss its financial results for the fourth quarter and full fiscal year ended March 31, 2025, on June 10, 2025 [1][2]. Company Overview - PetMed Express, Inc., operating as PetMeds, is a pioneer in the direct-to-consumer pet healthcare sector, founded in 1996 [3]. - The company is a licensed national online pharmacy across all 50 states, providing a range of pet health solutions including pharmaceuticals, compounded medications, and OTC supplements [3]. - PetMeds aims to empower pet owners to enhance the health and longevity of their pets through value, convenience, and care [3]. Conference Call Details - The conference call is scheduled for June 10, 2025, at 4:30 PM Eastern Time, with a question-and-answer session following the management's presentation [2]. - Participants are encouraged to dial in 5-10 minutes prior to the start time using the provided U.S. and international numbers [2]. - A telephonic replay of the conference call will be available after 7:30 PM Eastern Time on the same day until June 24, 2025 [2][3].

Core Insights - PetMed Express, Inc. has appointed Peter Batushansky to its Board of Directors, effective April 09, 2025, marking the third independent director added since 2024 [1][2] - Dr. Gian Fulgoni, a longtime board member and former Chairman, will retire at the 2025 annual shareholders' meeting [1][2] - The company is undergoing a leadership transformation, with recent appointments including Leslie C. G. Campbell as Chairman and Sandra Campos as CEO [2][3] Company Strategy and Leadership - The addition of Mr. Batushansky is part of the company's strategy to enhance board composition and support its transformation plan aimed at driving shareholder value [2][3] - The board will consist of seven directors, six of whom are independent, with three new members added since 2024 [2] - Mr. Batushansky's experience in retail, pet, and healthcare sectors is expected to align with the company's ambitions to expand its business in the pet wellness ecosystem [3][4] Background of New Board Member - Mr. Batushansky has over 20 years of experience in various industries, including roles as CEO of Allivet and WebEyeCare [4][5] - Currently, he is a Partner at L2 Capital Partners, contributing to his extensive background in private equity [5][6] Company Overview - PetMed Express, founded in 1996, is a leader in the consumer pet healthcare sector, operating as a national online retailer [7] - The company offers a range of pet health products, including pharmaceuticals and supplements, through its websites [7]