Petmed Express Inc Stock Price, News & Analysis

Vetster, a prominent pet care marketplace, has successfully raised $30M USD in an oversubscribed Series B round, totaling $40M USD since its launch in November 2020. The investment, led by Kensington Capital Partners, includes PetMed Express, Inc. (PETS) as a strategic partner to enhance telehealth services for pet owners in the U.S. The partnership aims to streamline pet care experiences, enabling pet parents to quickly access veterinary services and prescriptions.

PetMed Express announces a new partnership with Vetster Inc., enhancing pet healthcare through 24/7 telehealth access for over 2 million pet parents. This groundbreaking alliance positions PetMeds as the exclusive e-commerce provider for Vetster, which will offer virtual veterinary services. As part of the agreement, PetMeds also invests in Vetster, allowing for potential future equity growth based on performance milestones. This collaboration aims to improve accessibility for pet healthcare while maintaining fast medication delivery for customers.

PetMed Express, Inc. (NASDAQ: PETS) announces the appointment of Diana Garvis Purcel as an independent director on its Board, effective April 4, 2022. Purcel will also lead the Audit Committee following the retirement of Ronald Korn in July 2022. Board Chairman, Dr. Gian Fulgoni, highlighted Purcel's expertise as beneficial for the company's growth strategies. With over 20 years of CFO experience, including leadership roles in publicly traded companies, Purcel aims to contribute significantly to PetMed's transformation and future success.

PetMed Express announced its Q3 2021 financial results, reporting net sales of $60.7 million, a 7.9% decrease from the previous year. For the nine months, net sales were $207.4 million, down 12.7%. The net income for the quarter declined 44% to $4.3 million, equating to $0.21 diluted per share. Adjusted EBITDA also fell 31% to $7.6 million. Despite these declines, the average order size increased slightly from $88 to $89. The Board declared a quarterly dividend of $0.30 per share, payable on February 18, 2022.

PetMed Express, Inc. (NASDAQ: PETS) will announce its financial results for Q3 2021 on January 24, 2022, at 4:00 PM ET, followed by a conference call at 4:30 PM ET. The call is accessible to the public through a toll-free number and will also be available via webcast. For those who cannot attend live, a replay will be available from 7:30 PM ET on January 24 until February 7, 2022. Founded in 1996, PetMed Express provides prescription and non-prescription pet medications and health products directly to consumers.

PetMed Express, Inc. announced the hiring of three executives to drive its digital transformation and growth. Mark Moseley joins as Chief Technology and Information Officer, bringing 17 years of experience from Rosetta Stone. Dan Pingree is the new Chief Marketing Officer, known for his role in selling Moosejaw to Walmart, along with experience at Drugstore.com. Jacqueline Smith takes the role of Vice President of People, previously leading HR at Anju Software. CEO Matt Hulett emphasizes these hires are crucial for enhancing the company's e-commerce capabilities.

PetMed Express (NASDAQ: PETS) reported a 10.7% decrease in net sales for Q2 2021, totaling $67.4 million compared to $75.4 million in Q2 2020. For the first half, sales dropped 14.5% to $146.7 million. Net income fell 24.5% to $6.3 million or $0.31 per share, down from $8.4 million or $0.42 per share year-over-year. The company launched the “AutoShip and Save” program to enhance customer retention. A quarterly dividend of $0.30 per share has been declared, payable on November 19, 2021.

PetMed Express, Inc. (NASDAQ: PETS) will release its financial results for the quarter ending September 30, 2021, on October 25, 2021, at 4:00 PM ET. A conference call will follow at 4:30 PM ET to discuss the results. The public can join by dialing (877) 407-0789 or (201) 689-8562. A replay of the call will be available from 7:30 PM ET on the same day until November 8, 2021. PetMed Express is recognized as America’s Most Trusted Pet Pharmacy, providing a range of pet health products through its hotline and website.

PetMed Express (NASDAQ: PETS) has appointed Matt Hulett as its new CEO and President, effective immediately. Hulett, a technology executive with over 30 years of experience, previously worked at Rosetta Stone and Expedia, focusing on digital consumer growth. Board Chairman Dr. Gian Fulgoni highlighted Hulett's expertise in technology and digital transformation, anticipating positive impacts on PetMeds' growth in the expanding digital pet pharmacy market. Hulett expressed excitement about the potential for PetMeds to capitalize on the $100 billion pet market, aiming for strong growth.