Petmed Express Inc Stock Price, News & Analysis

PetMed Express (Nasdaq: PETS) appointed James LaCamp to its Board effective immediately and named him Chair of the Audit Committee, effective October 30, 2025. Mr. LaCamp qualifies as an audit committee financial expert and brings nearly two decades of finance, accounting, and audit experience including 12+ years as an audit partner at Deloitte.

The Board now has six directors, five independent, and has added four directors since 2024 as part of ongoing board refreshment.

PetMeds (NASDAQ: PETS) filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2025.

Key fiscal 2025 results: net sales $227.0 million (below prior preliminary range of $231.6–$233.6 million), net loss $6.3 million (wider than prior preliminary $4.5–$5.0 million), and cash $54.7 million with no debt. The company recorded a $1.2 million non-cash intangible impairment and restated promotional sales reimbursements from revenue to cost of sales, which the company says did not affect net income.

Management said it will file Form 10-Q for Q1 ended June 30, 2025 and subsequent quarterly filings "as soon as practicable" but gave no firm dates.

PetMed Express (NASDAQ: PETS) announced a September 9, 2025 award of 15,000 restricted common shares to Ali Khan upon his hiring as Chief Information Security Officer. The grant was made under the 2024 Inducement Incentive Plan and designated a material inducement to employment under Nasdaq Listing Rule 5635(c)(4). The shares vest in equal one-third increments on each of the first three anniversaries of the vesting commencement date, August 20, 2025, subject to continued employment.

PetMed Express (NASDAQ: PETS) announced significant leadership changes as CEO Sandra Campos and CFO Robyn D'Elia have resigned from their positions. Board Chair Leslie C.G. Campbell has been appointed as Interim CEO, while Chief Accounting Officer Douglas Krulik will serve as Interim Principal Financial Officer.

The departing executives will receive 13 months of base salary continuation and accelerated vesting of certain restricted stock units as severance, along with providing consulting services for three months. The company has initiated a search for permanent CEO and CFO positions. The Board has been restructured with Justin Mennen appointed as Lead Independent Director, while Peter Batushansky and Leah Solivan will chair the Audit and Compensation committees respectively.

PetMeds (NASDAQ: PETS) has partnered with myBalto Foundation for their "Top of the Class" fundraising drive, successfully raising nearly $45,000 to help pet owners cover emergency veterinary costs. The initiative aims to support myBalto's Angel Fund program, which assists veterinary hospitals in providing financial aid to pet parents facing hardships.

As part of the partnership, PetMeds offered 25% discounts to donors to encourage community participation. The myBalto Foundation provides veterinary hospitals with free Angel Funds, eliminating administrative burdens while enabling quick financial support for pet owners during emergency situations.

PetMed Express (NASDAQ: PETS) has received a notification from Nasdaq on July 2, 2025, regarding non-compliance with listing rules due to delayed filing of its Annual Report on Form 10-K for the fiscal year ended March 31, 2025.

The company has until September 1, 2025 to submit a compliance plan to Nasdaq, which may grant an extension until December 29, 2025 to regain compliance. PetMeds previously filed a Form 12b-25 on June 16, 2025, citing the need for additional time to compile and analyze financial information. The notice has no immediate impact on the company's Nasdaq listing status.

PetMed Express (NASDAQ: PETS), operating as PetMeds and parent company of PetCareRx, announced it will be unable to file its Form 10-K for FY 2025 within the extension period ending July 1, 2025. The delay is due to an ongoing investigation initiated by the Audit Committee following anonymous whistleblower reports.

The whistleblower complaints concern three main issues: revenue recognition timing for certain autoship orders in Q4 2025 that led to customer complaints, a $50 coupon promotion's impact on new customer KPIs, and concerns about the company's culture and control environment. The Audit Committee has engaged external legal counsel and advisors to investigate these matters.

Despite the ongoing investigation, PetMed Express states that based on current evidence, they do not expect the investigation to materially impact their previously announced preliminary Q4 and FY 2025 financial results or previously filed financial statements.

[ "Company does not expect material impact on previously announced financial results", "External legal counsel and advisors engaged for thorough investigation", "Company has established whistleblower reporting system in place" ]

PetMed Express (NASDAQ: PETS) has announced a strategic partnership with Wagmo, a pet healthcare benefits provider. Through this collaboration, Wagmo members will receive exclusive benefits, including a $25 credit for new PetMeds accounts.

The partnership enhances Wagmo's Perks Program by providing members with access to discounted pet health products, including medications, supplements, nutritional foods, and daily care essentials for dogs and cats. This initiative aims to make comprehensive pet healthcare more accessible and affordable for employees through workplace benefits.

PetMed Express (NASDAQ: PETS) has announced preliminary Q4 and FY 2025 results alongside filing Form 12b-25 for a delayed 10-K submission. The company expects Q4 net sales between $51.1-53.1M, down from $66.5M year-over-year, with estimated net loss of $9.9-10.4M compared to $5.0M loss prior year. For FY 2025, net sales are projected at $231.6-233.6M versus $281.1M in FY 2024, with net loss estimated at $4.5-5.0M compared to $7.5M loss previous year. The results include a $6.4M tax expense from valuation allowance and an $8.7M benefit from executive departure compensation reversal. The company maintains a strong balance sheet with $54.7M cash and no debt as of March 31, 2025. The 10-K filing is expected by July 1, 2025.