Welcome to our dedicated page for Petmed Express news (Ticker: PETS), a resource for investors and traders seeking the latest updates and insights on Petmed Express stock.
PetMed Express, Inc. (PetMeds) (NASDAQ: PETS) generates a steady flow of corporate, financial, and operational news that is relevant to investors, analysts, and pet healthcare observers. As a national online pet pharmacy and parent company of PetCareRx, PetMeds regularly issues press releases and SEC reports covering its business performance, governance, regulatory status, and strategic developments.
News about PetMed Express often includes updates on its financial reporting, such as the filing of its Annual Report on Form 10-K and preliminary revenue information for fiscal quarters. The company has reported on investigations by its Audit Committee into accounting and control matters, the resulting restatement of certain prior financial statements, and the identification of material weaknesses in internal control over financial reporting. Related news items also cover notices from Nasdaq regarding delayed SEC filings and the company’s plans to regain compliance with listing requirements.
Corporate governance and leadership changes are another frequent news theme. PetMed Express has announced the resignation of senior executives, the appointment of an interim Chief Executive Officer and an interim principal financial officer, and the addition of independent directors with audit and financial expertise to its board. These updates provide insight into how the company is addressing oversight, financial governance, and board composition.
Strategic and transactional news includes unsolicited, non-binding acquisition proposals from investment firms such as SilverCape Investments Limited and Cardone Ventures, each expressing interest in acquiring all outstanding shares of PetMed Express at a specified cash price per share, subject to customary conditions. The company has also highlighted partnerships and initiatives in the pet healthcare community, such as fundraising efforts with the myBalto Foundation to support emergency veterinary care. Together, these news items offer a detailed view of PetMed Express’s evolving business, governance, and strategic landscape.
PetMed Express has announced the acquisition of PetCareRx, a key player in pet medications and supplies. This strategic move aims to enhance revenue and expand its market share in the $120 billion U.S. pet care sector. PetMed plans to integrate an additional 10,000 wellness products, boosting their customer base of over two million. The acquisition is expected to close in Q1 2023, pending regulatory approval. CEO Matt Hulett emphasizes that the merger will offer customers increased choices and drive long-term shareholder value. The PetCareRx brand will continue separately, ensuring a seamless service experience.
PetMed Express announced its financial results for the second quarter ended September 30, 2022, reporting net sales of $65.4 million, down 3.0% from $67.4 million in the same period last year. Net income decreased to $2.6 million or $0.13 EPS, compared to $6.3 million or $0.31 EPS a year prior. Adjusted EBITDA also fell by 28% to $7.1 million. Despite these declines, the company noted growth in AutoShip & Save subscriptions, now making up 39% of total sales. A quarterly dividend of $0.30 per share was declared, payable on November 30, 2022.
PetMed Express (PETS) will hold a conference call on November 7, 2022, at 4:30 PM ET to discuss its Q2 financial results ending September 30, 2022. A press release with the financial results will be issued before the call. Interested parties can join via U.S. dial-in (877-407-0789) or international dial-in (201-689-8562), and a webcast will be available at petmeds.com. A replay of the call will be accessible until November 21, 2022.
PetMed Express, Inc. (NASDAQ: PETS) reported a decline in first-quarter net sales to $70.2 million, down 11.5% from $79.3 million in the previous year. Net income dropped to $2.8 million, or $0.14 per diluted share, from $4.4 million, or $0.22 per diluted share in Q1 2021. Adjusted EBITDA fell by 10%, totaling $6.3 million. CEO Matt Hulett indicated that colder temperatures impacted flea and tick sales but noted improvements as the quarter progressed. The company announced a quarterly dividend of $0.30 per share, payable on August 19, 2022, enhancing shareholder returns.
Christine Chambers has been appointed as Chief Financial Officer of PetMed Express, effective August 3, 2022. With extensive experience in digital transformation, she previously served as CFO at RealNetworks and held positions at Rosetta Stone and the Bill & Melinda Gates Foundation. The company’s President, Matt Hulett, expressed enthusiasm for Chambers' leadership during this growth phase. She succeeds Bruce Rosenbloom, who will assist in the transition. The appointment aims to enhance PetMeds' operational excellence in finance and support its digital initiatives.
PetMed Express (NASDAQ: PETS) will announce its financial results for the quarter ended June 30, 2022, on July 25, 2022, at 4:00 P.M. Eastern Time. Following this, a conference call will be held at 4:30 P.M. for public review of these results. Callers can join by dialing (877) 407-0789 or (201) 689-8562. A replay of the call will be available from 7:30 P.M. on July 25, 2022, until August 8, 2022. This PR includes forward-looking statements subject to risks that may affect the company's future performance.
PetMed Express, Inc. (NASDAQ: PETS) reported a 7.9% decline in net sales for Q4 FY2022, totaling $66.0 million, down from $71.7 million in the previous year. Net income also dropped 11% to $6.1 million, or $0.30 per diluted share. For the full fiscal year, sales decreased 11.6% to $273.4 million, with net income declining to $21.1 million from $30.6 million. CEO Matt Hulett noted a potential turnaround in sales for flea and tick products, influenced by weather conditions. The company declared a quarterly dividend of $0.30 per share, payable on May 27, 2022.
PetMed Express has appointed Carolyn Carden as the new VP of Product Management, effective May 9, 2022. Carden, a former Petco executive with over 20 years of experience in eCommerce and product management, will focus on expanding the company’s product portfolio, particularly in the growing telemedicine sector. CEO Matt Hulett emphasized Carden's strategic leadership capabilities as an asset to PetMeds' growth-oriented vision, especially in enhancing its service to over 2 million pet parents and collaborating with tens of thousands of veterinarians.
PetMed Express, Inc. (NASDAQ: PETS) will report its financial results for the fiscal year and fourth quarter ending March 31, 2022, on May 9, 2022, at 4:00 P.M. Eastern Time. A conference call will follow at 4:30 P.M. to discuss the results. Interested parties can access the call by dialing (800) 891-8256 or through a webcast link provided in the release. The replay will be available after the event until May 23, 2022. PetMed Express specializes in delivering pet medications and health products to consumers across the USA.
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.
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