PetIQ, Inc.
petiq.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 8, 2024. Its latest SEC filing is a SC 13G/A from Nov 14, 2024.
10-Q for Q2 FY2024, filed Aug 8, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Manufactures and distributes pet medications and health and wellness products through retail and e-commerce channels, and provides veterinary services directly to pet owners.
10-K for FY2023, filed Feb 29, 2024Our Products segment consists of our product manufacturing and distribution business through which we manufacture and distribute pet…View ↗
Our Services segment consists of veterinary services, and related product sales, provided by the Company directly to consumers. Our…View ↗
Through our Products segment, we are a manufacturer and distributor of pet medication and health and wellness products to major U.S. retail…View ↗
Our Services segment consists of veterinary services, and related product sales, provided by the Company directly to consumers. We operate…View ↗
How Did They Make Money?
Retailers and e-commerce customers pay for products when they are shipped or delivered. Pet owners generally pay when veterinary services are provided.
10-K for FY2023, filed Feb 29, 2024Our Product Segment net sales consist of our total product sales net of product returns, allowances (discounts), trade promotions and…View ↗
Our Service Segment revenue consists of providing veterinary services to consumers and selling products to the consumer in conjunction with…View ↗
Revenue is generally recognized for product sales on a point in time basis when product control is transferred to the customer. In general…View ↗
Revenue for services is recognized over time as the service is delivered, typically over a single day. Payment is typically rendered at the…View ↗
$1.1B
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10-K for FY2023, filed Feb 29, 2024
$1.1B ↗
Who Were Their Customers?
Retail chains, pet specialty stores, e-commerce businesses and pharmacies buy products, while consumers purchase veterinary services directly at clinics and wellness centers.
10-K for FY2023, filed Feb 29, 2024Historically, non-prescription pet Rx and flea and tick medications have been sold through veterinarian offices and, to a lesser extent…View ↗
Approximately 99% of our 2023 and 2022 net sales were generated from customers located in the United States and Canada. Our Products…View ↗
Our Services segment customers are consumers purchasing veterinary and related services and products directly from us through one of our…View ↗
10-K for FY2023, filed Feb 29, 2024
Approximately 99% of our 2023 and 2022 net sales were generated from customers located in the United States and Canada. Our Products…View ↗
Did Revenues Turn Into Profits?
Yes. It kept less than a cent of every revenue dollar as net income in FY2023.
10-K for FY2023, filed Feb 29, 2024
$2.1MView ↗
How Were They Changing?
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Oct 25, 2024
Bansk Group completed its acquisition of PetIQ, which was delisted
PetIQ became privately held and continues to operate independently under its executive team.
Sources
8-K, filed Oct 25, 2024
PetIQ, Inc. Announces Successful Completion of Acquisition by Bansk GroupView ↗
Grew. Revenue grew 55% in 4 years, from $709.4M in FY2019 to $1.1B in FY2023, about 12% a year.
Broader product range
The latest report describes health and wellness products alongside pet medications, including treats and other wellness items; the older report focused on pet medications and veterinary products and services.
10-K for FY2020, filed Mar 1, 2021 10-K for FY2023, filed Feb 29, 2024PetIQ is a leading pet medication and wellness company delivering a smarter way for pet parents to help their pets live their best lives…View ↗
Our Products segment consists of our product manufacturing and distribution business through which we manufacture and distribute pet…View ↗
Through our Products segment, we are a manufacturer and distributor of pet medication and health and wellness products to major U.S. retail…View ↗
Our health and wellness products include dog and cat treats, oral health solutions, stain and odor treatments and pet nutritional…View ↗
Who Did They Compete With?
Competes with Elanco, Hartz, Mars, Manna Pro, Nestlé, Spectrum Holdings, Promika, Tevra Brands, The J.M. Smucker, Banfield Pet Hospitals, VCA Animal Hospitals, and Petco
10-K for FY2023, filed Feb 29, 2024The pet medication, snack, food and health and wellness industry is highly competitive. We compete on the basis of product quality, product…View ↗
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