GlobeNewswire·Nov 10, 2026, 4:05 PM ET

PetMeds® Announces Second Quarter Financial Results

PETS

PetMed Express, Inc. reported a 19.4% decline in net sales to $35.8 million for the second quarter ended September 30, 2026, down from $44.4 million in the prior year period.
The company posted a net loss of $6.4 million, or $(0.31) per diluted share, for the quarter, compared to a net loss of $8.5 million, or $(0.41) per share, in the prior year.
Lower general and administrative expenses along with reduced advertising costs partially offset unfavorable product mix shifts and lower manufacturer rebates, which drove the decrease in gross profit.
Adjusted EBITDA for the quarter was $(3.6) million, an improvement from $(2.3) million in the prior year period.
CEO Jeff Willard stated that cost to acquire a new customer decreased by 32% year-over-year, while the company focuses on repositioning the brand and improving website usability.
Cash and cash equivalents decreased to $11.4 million as of September 30, 2026, from $21.4 million at the end of the fiscal year on March 31, 2026.
Inventory levels dropped to $6.3 million from $13.6 million a year ago, reflecting a reduction in current assets.
Total liabilities decreased to $42.5 million in September 2026 from $52.3 million in March 2026, while total shareholders' equity fell to $16.9 million from $28.9 million.
The company hosted an earnings webcast on November 10, 2026, at 4:30pm Eastern Time to review financial results for the quarter.
Six-month net loss for the period ended September 30, 2026, was $12.6 million, significantly better than the $42.7 million loss recorded in the same period of 2025.

Company: PetMed Express, Inc.
Keywords: Nasdaq:PETS, PetMed Express, Inc.