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PetMed Express (PETS) investor relations material

PetMed Express Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary10 Feb, 2025

Executive summary

  • Net sales for Q3 FY2025 were $53.0 million, down 18.9%–19% year-over-year, driven by reduced advertising and macroeconomic headwinds.

  • Adjusted EBITDA for the quarter rose to $2.0 million, up 116% or $1.1 million year-over-year, reflecting cost controls and operational efficiency.

  • Gross margin improved to 28.1%, up 80 basis points year-over-year, due to favorable sales mix and lower promotional activity.

  • The company focused on strategic transformation, digital enhancements, and integration of PetCareRx to drive long-term growth.

  • New customer acquisition fell to 63,000, with recurring net sales rising to 56.2% of total gross sales.

Financial highlights

  • Net loss for the quarter was $0.7 million ($0.03 per share), improved from $2.0 million ($0.10 per share) a year ago.

  • Gross profit for the quarter was $14.9 million, down from $17.9 million year-over-year.

  • General and administrative expenses decreased by $2.6 million or 19.7% year-over-year; advertising expenses dropped to $3 million from $5.8 million.

  • Cash and cash equivalents stood at $50.1 million as of December 31, 2024, with no debt.

  • Working capital was $20.4 million at quarter-end, down $1.1 million from March 31, 2024.

Outlook and guidance

  • Management expects continued impact from inflation, higher interest rates, and macroeconomic uncertainty on consumer demand and revenue growth.

  • The company is focused on cost efficiency, operational streamlining, and aligning staffing to business levels.

  • Plans include increased investments in customer engagement, product expansion, and infrastructure.

  • Committed to capturing greater share of the companion animal health market through customer experience and product mix optimization.

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Frequently asked questions

PetMed Express Inc is a pet pharmacy that markets prescription and non-prescription pet medications, health products, and supplies. It operates primarily through direct-to-consumer channels, including e-commerce and call centers. The company serves dog and cat owners across the United States. PetMed Express Inc is headquartered in Delray Beach, Florida, and its shares are listed on the NASDAQ.

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