PetMed Express, Inc. — Second Quarter 2026 Earnings Summary

PetMed Express reported a 19.4% decline in second-quarter net sales to $35.8 million, driven by reduced prescription medication sales and increased consumer promotional usage. The company posted a net loss of $6.4 million for the quarter, representing an improvement from the $8.5 million loss in the prior year period, primarily due to lower general and administrative and advertising expenses. Adjusted EBITDA for the quarter was a loss of $3.6 million, reflecting unfavorable product mix shifts and lower manufacturer rebates that offset gains from reduced freight costs. Management indicated that the business has stabilized operations and is focusing on transforming the core direct-to-consumer pharmacy into a leaner, more profitable entity.