Welcome to our dedicated page for Petmed Express news (Ticker: PETS), a resource for investors and traders seeking the latest updates and insights on Petmed Express stock.
PetMed Express, Inc. (NASDAQ: PETS), widely recognized as PetMeds, is America's largest pet pharmacy. Established in 1996, PetMeds provides both prescription and non-prescription pet medications, health products, and nutritional supplements for dogs, cats, and horses directly to consumers at substantial savings. The company operates from a single location, delivering exceptional value and convenience to millions of satisfied customers nationwide.
PetMeds generates revenue primarily by selling pet medications and supplies, targeting retail consumers. The company prides itself on being a trusted pet health expert, offering competitive prices and convenient access to a wide range of products. Pet parents can purchase these products through PetMeds' toll-free number (1-800-PetMeds) or online at www.petmeds.com.
Recently, PetMeds partnered with Hill's Pet Nutrition to offer Hill's Science Diet products on PetMeds' platform starting March 1, 2024. To celebrate this partnership, PetMeds launched a promotional giveaway, providing a year's worth of Hill's Science Diet to one lucky winner. This initiative aligns with PetMeds' commitment to responsible pet ownership and support for animal shelters facing capacity crises.
PetMeds also offers innovative services like Pumpkin® pet insurance plans and same-day VetLive® telehealth appointments, making veterinary care more accessible and affordable. Furthermore, through its wholly-owned subsidiary, PetCareRx, PetMeds extends its reach by providing additional pet health products and services.
The company's financial stability is underscored by its consistent performance and strategic partnerships. PetMeds is scheduled to host a conference call on February 8, 2024, to discuss its third-quarter results, followed by a Q&A session. This event provides an opportunity for investors and stakeholders to gain insights into the company's operations and future plans.
For more information, visit www.petmeds.com or contact PetMeds' investor relations team at investor@petmeds.com.
PetMed Express, Inc. (NASDAQ: PETS) has completed the acquisition of PetCareRx for approximately $36 million in cash. This strategic move expands PetMeds' market reach from pet medications to a wider healthcare category. With the addition of around 10,000 new food, diet, and wellness products, PetMeds aims to enhance its product offerings and service capabilities for its over two million active customers. The acquisition will allow PetMeds to leverage a more efficient distribution network while maintaining the independent operation of PetCareRx's e-commerce platform, ensuring continuity in customer experience.
PetMed Express, Inc. (NASDAQ: PETS) reported its financial results for Q3 FY 2023, with net sales of $58.9 million, marking a 3% decline year-over-year. The company recorded a net loss of $19,000, translating to $(0.00) per diluted share, down from a net income of $4.3 million or $0.21 per share in the same quarter last year. Adjusted EBITDA fell 64% to $2.7 million. However, new customers increased by 9% year-over-year, the first rise in 10 quarters. The Board declared a $0.30 quarterly dividend, payable on February 27, 2023. Management believes ongoing investments, including the acquisition of PetCareRx, will foster long-term growth.
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