PetMeds® Announces Second Quarter Financial Results

DELRAY BEACH, Fla., Nov. 10, 2026 (GLOBE NEWSWIRE) -- PetMed Express, Inc. dba PetMeds and parent company of PetCareRx (NASDAQ: PETS) today announced its financial results for its second quarter ended September 30, 2026.

Quarterly Highlights * For the second quarter ended September 30, 2026, net sales were $35.8 million compared to $44.4 million for the prior year period, a decrease of 19.4%, primarily driven by a decline in prescription medication sales and higher consumer promotional usage. * Net loss for the quarter ended September 30, 2026, was $6.4 million, or $(0.31) per diluted share, compared to a net loss of $8.5 million, or $(0.41) per diluted share, for the prior year period. The decrease in net loss was primarily driven by lower general and administrative expenses and advertising expenses. These favorable factors were partially offset by lower gross profit primarily driven by unfavorable product mix shift and lower manufacturer rebates as a percentage of sales, partially offset by lower net freight costs per order. * Adjusted EBITDA(1) was $(3.6) million compared to $(2.3) million in the prior year period. “We have stabilized the operations of the business and our focus now is on transforming our core direct-to-consumer pharmacy business and making PetMeds a leaner, more profitable company at the size we are today,” said Jeff Willard, Chief Executive Officer and President of PetMeds. “We are already making progress: this quarter we cut our cost to acquire a new customer by 32% from a year ago. Next, we are repositioning the brand so pet parents know exactly why to choose PetMeds, making our marketing work harder, making our website easier to buy from, and keeping more of the customers we win. Every one of these steps is built to create a profitable PetMeds that can grow again.”