PETVIVO HOLDINGS INC - PETV STOCK NEWS

PetVivo Holdings, Inc. (OTCQB: PETV) reported fiscal Q1 2025 results, reiterating guidance of 50% to 100% revenue growth for fiscal 2025. Key highlights:

• Revenues increased 6% to $124,000
• Gross profit up 6% to $111,000, maintaining 89.5% margin
• Net loss improved to $2.0 million or $(0.11) per share
• Distributor sales up 102% to $68,000
• Spryng™ used in over 800 veterinary clinics across 50 states
• Appointed new VPs of marketing and sales

The company expects fiscal 2025 revenue of $1.5 million to $2.0 million, representing 50% to 100% growth. PetVivo's focus remains on expanding Spryng™ adoption and distribution network.

PetVivo Holdings, Inc. (OTCQB: PETV & PETVW), a biomedical device company focused on innovative medical devices for companion animals, has appointed Eric Samples as its new Field Veterinary Business Development Manager for Ohio, Pennsylvania, and the Baltimore/DC area. Eric brings over 25 years of human and animal health sales experience to PetVivo, including roles at Covetrus, Sanofi Pharmaceuticals, and Fort Dodge Animal Health.

CEO John Lai expressed excitement about Eric's addition to the team, highlighting his valuable experience in advancing awareness of PetVivo's product Spryng™ with OsteoCushion™ technology. Eric, who holds a degree in Dairy and Animal Science from Penn State University, stated his enthusiasm for joining PetVivo and believes Spryng has the potential to improve medical outcomes for animals suffering from lameness and joint-related afflictions.

PetVivo Holdings, Inc. (OTCQB: PETV, PETVW), a leading biomedical company specializing in innovative therapeutic medical devices for equines and companion animals, has announced its upcoming fiscal first quarter 2025 conference call. The call is scheduled for Wednesday, August 14, 2024, at 5:00 p.m. Eastern time. PetVivo management will host the presentation, which will be followed by a question-and-answer session.

Financial results for the quarter ended June 30, 2024, will be released in a press release prior to the call. Interested parties can join the call via a toll-free dial-in number or access the live webcast through the company's website. A replay of the webcast will be available after the conference call.

PetVivo Holdings reported fiscal 2024 results, showing a 6% revenue increase to $969,000 and a gross profit of $740,000, or 76.3% of revenues. Sales of Spryng™, their lead veterinary medical device, rose by 15% to $732,000. Operating expenses increased 20% to $11.4 million, primarily due to higher general and administrative expenses and R&D costs. The net loss totaled $11.0 million or $(0.78) per share, compared to a net loss of $8.7 million or $(0.85) per share in fiscal 2023. The company plans further expansion in fiscal 2025, expecting net revenue of $1.5 million to $2.0 million.

Operationally, PetVivo achieved distribution of Spryng™ to over 700 veterinary clinics across 50 states and reported positive clinical study results. The company expanded its distribution network, partnering with Covetrus North America. New key appointments include Garry Lowenthal as CFO and Spencer Breithaupt to the board of directors.

PetVivo will hold a conference call on June 28, 2024, at 5:00 p.m. ET to discuss fiscal Q4 and annual results ended March 31, 2024. The financial results will be released prior to the call. Management will present and answer questions. Dial-in and webcast replay options are available.

PetVivo Holdings has appointed Bryan Monninger as their new VP of Sales. Monninger brings over 20 years of experience in sales and marketing, including senior roles at NOVUS, Colgate-Palmolive, Lintbells, and ConAgra. He will lead PetVivo's sales and distribution teams to expand the market adoption of their animal osteoarthritis product, Spryng™ with OsteoCushion™ Technology. Monninger's extensive background includes successful market entries, strategic planning, and sales growth acceleration. CEO John Lai expects Monninger's expertise to drive PetVivo's growth and expand their market reach both domestically and internationally.

PetVivo Holdings announced that April Boyce has joined as Vice President of Marketing. Boyce, with over 20 years of experience in consumer-packaged goods (CPG) marketing, sales, and strategic partnerships, has held significant roles at Procter & Gamble and Clorox. At Clorox, she led the shopper marketing division and formed strategic partnerships with companies like Burt's Bees, Coca-Cola, and Tyson Foods. Her most recent role was Chief Commercial Officer at pet tech start-up, Link. Boyce aims to enhance awareness and understanding of PetVivo's veterinary medical device, Spryng with OsteoCushion Technology.