PetVivo (US:PETV)2025-11-14 23:00Financial Data and Key Metrics Changes - The company reported revenues of $303,000 for the quarter, representing a 51% increase compared to the same quarter last year [8] - For the first half of the fiscal year, revenues increased by 85% to over $600,000, marking the best first half ever for the company [5][8] - Gross profit totaled $220,000, or 72.6% of revenues, which was a 23% increase from $180,000, or 89.5% of revenues in the same quarter a year ago [9] - Net loss totaled $3 million, or $0.11 per share, compared to a net loss of $2.2 million in the same quarter last year [10] - Available cash increased to $768,000 from $220,000 at the end of the previous fiscal year [11] Business Line Data and Key Metrics Changes - The U.S. distributor network increased sales by 35% year-over-year, contributing $237,000, or 75% of total revenues for the quarter [4][8] - The new product, Precise PRP, generated increased revenue during the quarter, with 42% of revenue attributed to PRP and 58% to Spring [34] Market Data and Key Metrics Changes - The veterinary healthcare market in Mexico is projected to grow at a CAGR of 11%, reaching approximately $2.4 billion in six years [3] - The European animal market is estimated at over $16.56 billion and is projected to grow at a CAGR of 8.6% [3] - The U.K. market exceeds $2.6 billion and is growing at a 7.8% CAGR [4] Company Strategy and Development Direction - The company aims to expand the use of its flagship product, Spring, and increase awareness of Precise PRP for treating osteoarthritis in animals [13] - The company is exploring the introduction of products to human markets and has formed partnerships to enhance its market presence [7][18] - A strategic collaboration with Digital Landia aims to integrate AI technology into the company's platform, enhancing diagnostic capabilities [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong sales momentum and market penetration for the remainder of fiscal 2026 [27] - The company anticipates another year of record growth and improving bottom line as it expands the use of Spring and Precise PRP [27] - The third and fourth quarters are expected to be particularly strong due to increased industry events driving product awareness [28] Other Important Information - The company qualified to begin trading on the OTCQX best market, enhancing visibility and liquidity for investors [12] - The appointment of Josh Rubin to the board of directors is expected to provide valuable insights into growth-stage companies [6] Q&A Session Summary Question: How many clinics are heavy users of the product? - The learning curve for veterinarians to adopt the product ranges from six months to a year, with anecdotal evidence showing continued growth in adoption [32] Question: Can you break down the revenue between Spring and PRP? - Approximately 42% of revenue was from PRP and 58% from Spring, with the PRP revenue only reflecting the canine version as equine shipments just began [34][35] Question: Do you have any corporate clinics that have adopted your product corporate-wide? - No corporate-wide adoption has occurred yet, as each corporate clinic allows veterinarians to make their own decisions [37] Question: Can you provide a breakdown between companion versus equine revenue? - The company tracks these markets separately and plans to provide more detailed segment reporting in the future [39]