PetVivo (PETV) Q2 2025 earnings summary

Executive summary

• Achieved strong operational and financial progress in Q2 FY2025, driven by the rollout of Spryng, an innovative veterinary device for osteoarthritis in pets and horses.

• Expanded distribution network, now reaching over 800 clinics across all 50 states, with more than 10,000 animals treated.

• Operates as a single segment, leveraging proprietary biomaterials protected by 19 patents.

• Participated in major veterinary conferences and initiated new clinical trials to support product adoption.

Financial highlights

• Sequential revenue growth of 62% in Q2 FY2025, primarily from a 147% increase in distributor sales.

• Revenue for the quarter ended September 30, 2024, was $201,000, nearly flat year-over-year.

• Gross profit was $180,000, maintaining a high gross margin of 89.5%.

• Operating expenses dropped 25% year-over-year to $2.4 million, reflecting a strategic cost reduction program.

• Net loss improved to $2.2 million ($0.11 per share) from $3.7 million ($0.28 per share) year-over-year.

Outlook and guidance

• Expecting Q3 to be the largest quarter, driven by major veterinary conferences and expanded sales force.

• Targeting expansion to over 1,500 clinics using Spryng by fiscal year-end.

• Anticipates FY2025 revenue of approximately $1.5 million, representing over 50% growth from the prior year.

• Management expects to continue raising capital through securities sales to fund commercialization and operations.