PetMed Express, Inc. reports developments tied to its PetMeds pet pharmacy platform, its PetCareRx business, and the sale of prescription and non-prescription pet medications, preventatives, health products, and supplies. The company serves pet owners through direct-to-consumer channels and has announced distribution partnerships that extend pet pharmacy offerings across retail and digital channels.
Recurring news themes include product assortments focused on pet wellness, fiscal results and financial reporting updates, Nasdaq listing-rule communications related to periodic filings, board and audit committee changes, shareholder rights plan actions, and responses to unsolicited acquisition proposals. Coverage also reflects the company's positioning as a national pet pharmacy and pet health products retailer.
PetMeds (PETS) granted equity awards to two newly hired executives as employment inducements under its 2024 Inducement Incentive Plan. CEO and President Jeff Willard received 250,000 restricted shares and 250,000 performance share units on September 28, 2026. Chief Technology Officer Andrew Parry received 100,000 restricted shares on October 1, 2026. Restricted shares vest over three years; performance units depend on relative shareholder returns.
PetMed Express (PETS) appointed Tamar Elkeles, PhD as a new independent director and Chair of the Compensation and Human Capital Committee, effective September 17, 2026.
Elkeles has more than 30 years of experience as an executive, board member and strategic advisor across technology, enterprise software and human capital. From 1992 to 2015 she was Chief Learning & Talent Officer at Qualcomm, where she helped shape human capital strategy as revenue grew from about $100 million to more than $25 billion and headcount from 700 to 35,000 employees. She currently serves as a Senior Advisor at East Wind Advisors, an Advisor at 444 Capital and a Venture Partner at Emerge Capital, and sits on the boards of Brightline Interactive and Open Sesame.
Her appointment follows PetMeds’ recent executive leadership transition in which Jeff Willard became CEO and President, succeeding Interim CEO and Board Chair Leslie C.G. Campbell.
PetMed Express (PETS) has appointed consumer and e‑commerce veteran Jeff Willard as Chief Executive Officer, President and Board member, effective September 28, 2026, succeeding Interim CEO and Board Chair Leslie C.G. Campbell.
Willard joins from Stewart-MacDonald, where he was CEO, and previously held senior roles at Casper, Healthy Lifestyle Brands, Zac Brown Collective, Simmons Bedding Company, Harman International, Coleman, Helen of Troy and Lexmark International. Campbell, who has served on the Board since 2018 and as Interim CEO since August 2025, will retire as Chair and step down from the Board on September 28, 2026, but remain a full-time Strategic Advisor for 60 days after Willard’s arrival to support a smooth transition.
Lead Independent Director Justin Mennen will become Chair of the Board on September 28, 2026, and Board member Peter Batushansky will assume the role of Chair of the Corporate Governance and Nominating Committee, while Mennen remains a committee member.
PetMed Express (PETS) has appointed Andrew Parry as Chief Technology Officer, effective immediately.
Parry will oversee technology strategy, platform architecture and engineering execution across PetMeds' e-commerce, pharmacy and enterprise systems. He previously served as Senior Vice President and Chief Information Officer at The ODP Corporation and spent nearly two decades in technology leadership roles at Office Depot, including in application development, customer-facing systems, enterprise architecture and business intelligence.
PetMed Express (NASDAQ: PETS) reported first quarter 2026 net sales of $41.0 million, down 19.9% from $51.2 million a year earlier, mainly reflecting lower prescription medication sales despite reduced consumer promotions. Gross profit was $11.3 million versus $14.4 million in the prior-year period.
Net loss narrowed to $6.1 million, or $(0.28) per diluted share, from $34.2 million, or $(1.65) per share, primarily due to the absence of prior-year impairment charges and lower G&A and advertising expenses. Adjusted EBITDA was $(3.4) million compared with $(2.7) million. Operating expenses fell sharply, including a nearly 14% decline in general and administrative costs and lower advertising spend. Cash and equivalents declined to $13.1 million from $21.4 million at March 31, 2026, with $7.7 million used in operating activities. The company highlighted completion of an enterprise-wide SAP ERP rollout and a recently announced sale-leaseback aimed at strengthening its balance sheet.
PetMed Express (Nasdaq: PETS) announced it will release financial results for the first quarter of fiscal year 2027, covering the period ended June 30, 2026, on Thursday, August 13, 2026 after market close.
The company will hold a conference call and webcast to review the results at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) on the same day. U.S. participants can dial 877-407-0789, while international participants can use 201-689-8562, or access the 1Q Earnings Webcast online. A telephonic replay will be available from after 7:30 p.m. Eastern Time on August 13, 2026, through August 27, 2026, via toll-free number 844-512-2921, international number 412-317-6671, using replay passcode 13761872.
PetMed Express (Nasdaq: PETS) entered a definitive agreement for a $37 million sale-leaseback with an institutional real estate investor covering its headquarters and distribution center buildings in Delray Beach, Florida. Closing is targeted within 120 days, subject to due diligence and customary conditions, including negotiating a leaseback for its office and Florida distribution center space.
According to PetMeds, the move is part of efforts to strengthen its balance sheet, optimize its asset base, and unlock real estate value while continuing to occupy its long-time headquarters and gaining additional financial flexibility for core pharmacy initiatives.
PetMeds (Nasdaq: PETS) launched a new co-branded online pet pharmacy with Rural King, giving Rural King customers access to pet medications, prescription food, preventatives and other pet health products through a digital platform powered by PetMeds. The service is available via RuralKing.com banners, Rural King email and social channels, and a dedicated link at RuralKing.PetMeds.com.
This is PetMeds’ first large-scale white-label pharmacy program, leveraging its pharmacy infrastructure, licensed pharmacists and e-commerce capabilities to support Rural King’s retail and online customer base, with AutoShip options for recurring needs. Introductory promotions RKPAW25 and RKKING50 offer sitewide discounts, subject to terms and exclusions.
PetMed Express (Nasdaq:PETS) confirmed receipt of an unsolicited, non-binding and conditional proposal from SilverCape Investments to acquire all outstanding shares for $3.00 per share in cash. This follows a prior $4.00 per share proposal made on December 11, 2025.
The Board, advised by financial and legal advisors, will evaluate the latest proposal but has made no determination and cautions there is no assurance any transaction will occur. The Board is prepared to engage with SilverCape once it executes a customary nondisclosure agreement with a standstill and continues to consider any credible value-maximizing proposal while focusing on core operations and long-term stockholder value.
PetMeds (NASDAQ:PETS) reported fourth quarter and fiscal 2026 results for the period ended March 31, 2026.
Q4 net sales were $42.8M (down 15.6% YoY) with a net loss of $4.1M. Fiscal 2026 net sales were $179.0M (down 21.1%), with a net loss of $57.3M, driven largely by a $26.7M goodwill impairment and higher costs. Adjusted EBITDA was $(2.8)M in Q4 and $(15.4)M for the year. The company also evaluated but declined unsolicited cash acquisition proposals of $4.00–$4.25 per share and will continue as an independent public company.