Earnings Releases·Nov 10, 2026, 4:17 PM ET

PetMed Express, Inc. — Second Quarter 2026 Earnings Summary

Net sales declined 19.4% year-over-year to $35.8 million, while the net loss narrowed to $6.4 million ($0.31 per share) from $8.5 million ($0.41 per share) in the prior year period.
Adjusted EBITDA widened to a loss of $3.6 million from $2.3 million, driven by an unfavorable product mix and lower rebates, though partially offset by reduced freight costs and lower G&A and advertising expenses.
Management reports stabilizing operations with a 32% reduction in customer acquisition costs, focusing on repositioning the core direct-to-consumer pharmacy business to improve profitability.
Cash and cash equivalents decreased to $11.4 million from $21.4 million in the prior period, while total current liabilities fell to $42.4 million from $52.0 million.
One-time expenses related to an Audit Committee investigation and employee severance were eliminated in the current quarter compared to the prior year, with no dividends paid in the six-month period.