PetVivo (PETV) Q3 2025 earnings summary

Executive summary

• Achieved a 191% sequential revenue increase to $583,000 in Q3, driven by expanded distribution for Spryng, though revenue declined 2% year-over-year due to a shift from direct to distributor sales.

• Focused on expanding both equine and companion animal markets, with a realigned and expanded sales force and new leadership appointments.

• Enhanced market presence through major veterinary conferences and new product launches.

• PetVivo Holdings commercializes Spryng™, a veterinary device for osteoarthritis in dogs and horses, with a growing product pipeline and 19 patents.

• Spryng™ is distributed through MWI Veterinary Supply and Covetrus, with ongoing clinical studies to support broader adoption.

Financial highlights

• Revenue for the quarter ended December 31, 2024, was $583,313, nearly flat compared to $595,891 in the same quarter last year.

• Nationwide distributor network sales rose 222% sequentially to $545,000.

• Gross profit was $522,000, maintaining a high gross margin of 89.5%.

• Operating expenses for the nine months ended December 31, 2024, decreased by $2 million (23%) year-over-year.

• Net loss for the nine months was $5,979,594 ($0.30 per share), an improvement from $8,304,578 ($0.64 per share) a year ago.

• Cash and cash equivalents at December 31, 2024, were $28,891, later increased to $418,000 after a $1.1 million capital raise.

• Net cash used in operating activities for the nine months was $4,091,978, down 31% year-over-year.

Outlook and guidance

• Expectation to leverage new capital to execute growth strategies in the coming months.

• Anticipate completion of the canine elbow study and engagement with large corporate veterinary groups in upcoming quarters.

• Continued focus on expanding distribution and product portfolio, including the launch of Precise PRP.

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

• The company anticipates ongoing losses and will require additional financing to support business expansion and commercialization of Spryng™.