PETS

MKT CAP:$48M

PetMed Express, Inc.

Market Cap

$48M

Healthcare·Medical - Pharmaceuticals·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$2.32-$0.98 (-29.70%)

Apr 22, 2026

Company Details

PetMed Express, Inc., together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It...

CEO

Leslie C. G. Campbell

IPO Date

Apr 26, 1999

Website

www.1800petmeds.com

Key Metrics TTM

Revenue

$210M

-24.4% YoY

Net Income

-$44M

EPS (Diluted)

-$2.13

Free Cash Flow

-$5M

Revenue / Share

$10.13

Gross Margin

30.1%

Operating Margin

-6.1%

Net Margin

-21.0%

FCF Margin

-2.3%

P/S

0.2x

P/E

—

Earnings Reports

Q2 2026

May 11, 2026

PENDING

Q1 2026

Dec 19, 2025

$51M-24.7%EPS -$1.65

FY 2025

Oct 14, 2025

$227M-17.2%EPS -$0.30

Q4 2025

Oct 14, 2025

$46M-30.1%EPS -$0.56

Q3 2025

Feb 10, 2025

$53M-18.9%EPS -$0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$79M	$22M	$5M
Q2 22	$67M	$19M	$8M
Q3 22	$61M	$18M	$5M
Q4 22	$66M	$19M	$7M
Q1 23	$70M	$20M	$3M
Q2 23	$65M	$18M	$3M
Q3 23	$59M	$15M	-$769.0K
Q4 23	$62M	$17M	-$7M
Q1 24	$78M	$23M	-$2M
Q3 24	$65M	$18M	-$3M
Q4 24	$67M	$16M	-$4M
Q1 25	$68M	$16M	$4M
Q2 25	$60M	$17M	$554.0K
Q3 25	$53M	$15M	-$450.0K
Q4 25	$46M	$19M	-$6M
Q1 26	$51M	$12M	-$7M

Valuation

Quarter	P/S	P/E
Q1 22	0.2x	1.8x
Q2 22	0.2x	1.9x
Q3 22	0.2x	2.2x
Q4 22	0.2x	2.3x
Q1 23	0.2x	2.5x
Q2 23	0.2x	3.1x
Q3 23	0.2x	4.3x
Q4 23	0.2x	208.0x
Q1 24	0.2x	—
Q3 24	0.2x	—
Q4 24	0.2x	—
Q1 25	0.2x	—
Q2 25	0.2x	—
Q3 25	0.2x	135.8x
Q4 25	0.2x	—
Q1 26	0.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$422.0K	-$899.0K
Q2 22	$1M	$1M
Q3 22	$9M	$8M
Q4 22	$9M	$8M
Q1 23	$6M	$5M
Q2 23	-$1M	-$3M
Q3 23	$13M	$12M
Q4 23	$10M	$8M
Q1 24	$562.0K	-$591.0K
Q3 24	-$3M	-$4M
Q4 24	$7M	$6M
Q1 25	-$9M	-$9M
Q2 25	$7M	$6M
Q3 25	-$1M	-$2M
Q4 25	$7M	$5M
Q1 26	-$12M	-$14M

Capital Expenditures

Quarter	CapEx
Q1 22	$477.0K
Q2 22	$495.0K
Q3 22	$294.0K
Q4 22	$486.0K
Q1 23	$982.0K
Q2 23	$1M
Q3 23	$993.0K
Q4 23	$2M
Q1 24	$1M
Q3 24	$1M
Q4 24	$1M
Q1 25	$683.0K
Q2 25	$1M
Q3 25	$777.0K
Q4 25	$2M
Q1 26	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-17.6%	-14.8%
Q2 22	-10.7%	-8.7%
Q3 22	-7.9%	-1.8%
Q4 22	-7.9%	-6.9%
Q1 23	-11.5%	-9.7%
Q2 23	-3.0%	+5.3%
Q3 23	-3.0%	+7.3%
Q4 23	-5.4%	+17.9%
Q1 24	+11.5%	+20.5%
Q3 24	-0.1%	+9.5%
Q4 24	+13.0%	+18.1%
Q1 25	+8.9%	-8.6%
Q2 25	-23.9%	-26.6%
Q3 25	-18.9%	-21.9%
Q4 25	-30.1%	-25.5%
Q1 26	-24.7%	-8.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$718.0K	0.9%
Q2 22	$882.0K	1.3%
Q3 22	$1M	2.4%
Q4 22	$2M	2.3%
Q1 23	$2M	2.2%
Q2 23	$2M	2.6%
Q3 23	$2M	3.0%
Q4 23	$2M	2.6%
Q1 24	$2M	2.2%
Q3 24	$2M	2.6%
Q4 24	$2M	2.5%
Q1 25	-$8M	-12.1%
Q2 25	$573.0K	1.0%
Q3 25	$452.0K	0.9%
Q4 25	$7M	15.5%
Q1 26	$591.0K	1.2%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$8M	$8M
Q2 22	$7M	$3M
Q3 22	$8M	$4M
Q4 22	$8M	$3M
Q1 23	$9M	$6M
Q2 23	$11M	$4M
Q3 23	$10M	$5M
Q4 23	$19M	$5M
Q1 24	$16M	$7M
Q3 24	$13M	$6M
Q4 24	$14M	$6M
Q1 25	$5M	$7M
Q2 25	$10M	$5M
Q3 25	$11M	$3M
Q4 25	$12M	$9M
Q1 26	$13M	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$111M	$0	$111M
Q1 23	$105M	$0	$105M
Q2 23	$97M	$0	$97M
Q3 23	$102M	$0	$102M
Q4 23	$104M	$0	$104M
Q1 24	$62M	$0	$62M
Q2 24	$53M	$0	$53M
Q3 24	$49M	$0	$49M
Q4 24	$55M	$0	$55M
Q1 25	$46M	$0	$46M
Q2 25	$52M	$0	$52M
Q3 25	$50M	$0	$50M
Q4 25	$55M	$0	$55M
Q1 26	$41M	$0	$41M
Q2 26	$36M	$0	$36M
Q3 26	$27M	$0	$27M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	20M	+0.1%	+0.8%
Q2 22	21M	+1.8%	+2.1%
Q3 22	20M	-1.2%	+1.1%
Q4 22	20M	+0.0%	+0.8%
Q1 23	20M	-0.2%	+0.5%
Q2 23	20M	+0.3%	-1.1%
Q3 23	20M	-0.2%	-0.1%
Q4 23	20M	+0.2%	+0.0%
Q1 24	20M	-0.0%	+0.2%
Q3 24	20M	+0.5%	+0.4%
Q4 24	20M	+0.1%	+0.7%
Q1 25	21M	+2.4%	+3.0%
Q2 25	21M	-0.0%	+3.0%
Q3 25	21M	-1.5%	+1.0%
Q4 25	21M	+0.0%	+1.0%
Q1 26	21M	+0.6%	-0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$362.2K	219
Q2 22	$307.7K	219
Q3 22	$277.2K	219
Q4 22	$311.3K	212
Q1 23	$331.1K	212
Q2 23	$308.5K	212
Q3 23	$277.7K	212
Q4 23	$206.6K	302
Q1 24	$259.1K	302
Q3 24	$216.3K	302
Q4 24	$231.7K	287
Q1 25	$236.8K	287
Q2 25	$207.6K	287
Q3 25	$184.6K	287
Q4 25	$268.6K	173
Q1 26	$295.8K	173

Revenue / Employee