PetIQ(US:PETQ)2023-05-09 20:40Financial Performance & Guidance - PetIQ's first quarter net sales and adjusted EBITDA exceeded company guidance[14] - The company reported record quarterly net income and adjusted EBITDA[14] - FY23 Net Sales Guidance is ~$970 million - $103 billion[57] - FY23 Adjusted EBITDA Guidance is ~$86 million - $92 million[57] - Q2 2023 Net Sales Guidance is ~$270 million - $280 million[66] - Q2 2023 Adjusted EBITDA Guidance is ~$24 million - $26 million[66] Strategic Initiatives & Market Position - PetIQ captured a disproportionate amount of market share and outperformed the broader product categories in which they compete[2] - PetIQ is the only animal health company 100% partnered with USA retailers[19] - PetIQ completed the acquisition of Rocco & Roxie on January 13, 2023, to expand its offerings[14] Product Segment & Brands - PetIQ's manufactured brand sales are expected to reach ~32% of total products segment net sales in 2023[25] - PetIQ brands within e-commerce continued to outpace and gain share vs the category[31] Services Segment - The Services Segment achieved its highest profit contribution quarter since Q4 2019, reflecting improved operating efficiencies and the maturation of wellness centers[14]