PetMed Express, Inc. - PETS STOCK NEWS

PetMed Express (NASDAQ: PETS) reported its Q2 fiscal 2025 financial results with net sales of $59.6 million and a gross margin of 29.1%, up 0.8% year-over-year. The company posted net income of $2.3 million, or $0.11 per diluted share, compared to $0.7 million, or $0.03 per diluted share, in the prior year period. Adjusted EBITDA reached $2.1 million, improving from a loss of $(1.5) million in Q1 fiscal 2025, though down from $3.4 million year-over-year. The company highlighted progress in its business transformation, including consolidation of operations and cost structure improvements.

PetMed Express (PETS) has announced its upcoming fiscal second quarter 2024 earnings conference call, scheduled for November 6, 2024, at 4:30 PM Eastern Time. The company will release its financial results for the quarter ended September 30, 2024, before the call. Management will host the call followed by a Q&A session. The call will be accessible via U.S. dial-in (877-407-0789) and international dial-in (201-689-8562). A replay will be available until November 20, 2024, through toll-free (844-512-2921) and international (412-317-6671) numbers with passcode 13748837.

PetMed Express, Inc. (Nasdaq: PETS) has appointed Robyn D'Elia as Chief Financial Officer, effective September 16, 2024. D'Elia brings over 25 years of experience in financial leadership and strategic planning, including 24 years at Bed Bath & Beyond where she served as CFO from 2018 to 2020. Most recently, she was CFO at Odeko, a privately held operations partner for independent coffee shops and cafes.

As CFO at PetMeds, D'Elia will oversee the entire finance organization and report directly to President and CEO Sandra Campos. The company expects her expertise in financial discipline, operational rigor, and scaling organizations to be valuable as they expand and aim to deliver long-term value for shareholders, customers, and employees.

PetMed Express (Nasdaq: PETS), parent company of PetCareRx, announces its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The event is scheduled for September 4-6, 2024 in New York. Sandra Campos, CEO and President of PetMeds, will engage in a fireside chat on September 6, 2024, at 7:45 a.m. (Eastern Time).

Investors and interested parties can access a live audio webcast of the fireside chat through the 'Events & Presentations' section of PetMed's investor relations website. Following the event, a replay will be available for approximately 90 days on the same platform.

PetMed Express, Inc. (NASDAQ: PETS) reported its fiscal 2025 first quarter financial results. Net sales decreased by 13% to $68 million compared to the prior year quarter. However, the company achieved a net income of $3.8 million, or $0.18 diluted earnings per share, compared to a net loss in the previous year. This improvement was primarily due to a $8.7 million reversal of accumulated stock compensation expense associated with the former CEO's departure. The company's Adj. EBITDA was $(1.5) million, $4.9 million lower than the prior year quarter.

CEO Sandra Campos emphasized that Q1 FY'25 was a transition quarter, with new leadership focusing on cost reduction initiatives and customer growth strategies. The company is working on combining operations between PetMeds and PetCareRx, and early positive signs are validating their strategy to create an ecosystem of products and services for pets' well-being.

PetMed Express, Inc. (Nasdaq: PETS) has appointed Doug Krulik as Chief Accounting Officer (CAO), effective August 19, 2024. Krulik brings over 20 years of leadership experience in finance and accounting, most recently serving as Vice President Finance and Controller at Etherio Holdings. In this newly created role, he will oversee all aspects of PetMeds' accounting functions, including financial reporting, treasury, tax, compliance, and internal controls.

Krulik will report directly to the Office of the Chief Financial Officer. The appointment aligns with PetMeds' initiatives to enhance operational excellence and strengthen financial governance. CEO Sandra Campos expressed enthusiasm about Krulik's deep accounting expertise and his potential contribution to the company's growth journey.

PetMed Express, Inc. (Nasdaq: PETS), operating as PetMeds and parent company of PetCareRx, has announced its upcoming fiscal first quarter 2025 earnings call. The conference call is scheduled for Tuesday, August 6, 2024, at 4:30pm Eastern time. PETS management will host the call, which will be followed by a question-and-answer session.

Financial results for the quarter ended June 30, 2024, will be released via press release prior to the call. Investors can access the call using the U.S. dial-in number 844-826-3035 or the international number 412-317-5195. A webcast will also be available. For those unable to attend, a telephonic replay will be accessible until August 20, 2024.

PetMed Express (Nasdaq: PETS) has appointed Leah Solivan to its Board of Directors, effective June 24, 2024. Solivan, a General Partner at Fuel Capital and founder of TaskRabbit, brings over 20 years of experience in scaling technology businesses. She successfully led TaskRabbit to its acquisition by IKEA in 2017. Both Leslie C.G. Campbell, Chairman of the Board, and Sandra Campos, President and CEO, expressed confidence in Solivan's ability to contribute to the company's growth and strategic direction. Solivan herself highlighted the opportunity to enhance PetMed Express's technological capabilities and market presence.

PetMed Express (NASDAQ: PETS) reported its financial results for the fourth quarter and fiscal year ending March 31, 2024. Quarterly net sales rose 6.6% to $66.5 million, driven by the PetCareRx acquisition, but offset by a decline in legacy sales. However, the company posted a net loss of $5.0 million, or $0.25 per diluted share, primarily due to increased G&A and marketing expenses. Adjusted EBITDA fell to $0.5 million from $3.6 million in the prior year.

For the full fiscal year, net sales increased 9.5% to $281.1 million. The company recorded a net loss of $7.5 million, compared to a net income of $5.1 million the previous year, again due to higher G&A and marketing expenses. Annual Adjusted EBITDA declined to $8.2 million from $19.8 million. CEO Sandra Campos noted challenges in the macro environment and industry dynamics but emphasized efforts to improve systems and processes for better customer experience. Looking ahead, the company aims to drive growth, improve profitability, and enhance customer satisfaction.