$PETS
PETMED EXPRESS INC

2024 Q2 Form 10-Q Financial Statement

#000104013024000019 Filed on April 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4
Revenue $67.95M $65.32M
YoY Change -13.15% 10.95%
Cost Of Revenue $49.98M $47.43M
YoY Change -10.3% 8.71%
Gross Profit $17.97M $17.88M
YoY Change -20.22% 17.36%
Gross Profit Margin 26.45% 27.38%
Selling, General & Admin $11.86M $19.19M
YoY Change -48.36% 27.35%
% of Gross Profit 66.02% 107.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.721M $1.770M
YoY Change 2.56% 88.1%
% of Gross Profit 9.58% 9.9%
Operating Expenses $13.59M $20.96M
YoY Change -44.9% 30.92%
Operating Profit $4.386M -$3.074M
YoY Change -306.11% 299.74%
Interest Expense $95.00K $136.0K
YoY Change -84.68% -80.79%
% of Operating Profit 2.17%
Other Income/Expense, Net $326.0K $429.0K
YoY Change -35.57% -55.64%
Pretax Income $4.712M -$2.645M
YoY Change -570.26% -1435.86%
Income Tax $1.000M -$600.0K
% Of Pretax Income 21.22%
Net Earnings $3.754M -$2.027M
YoY Change -523.22% 10568.42%
Net Earnings / Revenue 5.52% -3.1%
Basic Earnings Per Share $0.18 -$0.10
Diluted Earnings Per Share $0.18 -$0.10
COMMON SHARES
Basic Shares Outstanding 21.15M shares 21.15M shares
Diluted Shares Outstanding 20.94M shares 20.43M shares

Balance Sheet

Concept 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.99M $49.44M
YoY Change -25.26% -51.73%
Cash & Equivalents $46.00M $49.40M
Short-Term Investments
Other Short-Term Assets $3.851M $9.602M
YoY Change -61.79% 32.53%
Inventory $25.52M $34.58M
Prepaid Expenses
Receivables $2.261M $1.930M
Other Receivables $0.00 $0.00
Total Short-Term Assets $77.62M $95.55M
YoY Change -26.65% -28.7%
LONG-TERM ASSETS
Property, Plant & Equipment $26.11M $26.81M
YoY Change -10.68% 6.22%
Goodwill $26.66M $26.66M
YoY Change 28.57%
Intangibles $10.71M $11.69M
YoY Change -15.44%
Long-Term Investments $5.300M
YoY Change
Other Assets $5.012M $5.715M
YoY Change -31.06%
Total Long-Term Assets $75.09M $77.80M
YoY Change 0.24% 150.15%
TOTAL ASSETS
Total Short-Term Assets $77.62M $95.55M
Total Long-Term Assets $75.09M $77.80M
Total Assets $152.7M $173.4M
YoY Change -15.5% 4.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.47M $38.85M
YoY Change -38.89% 59.77%
Accrued Expenses $30.97M $30.48M
YoY Change 120.6% 351.3%
Deferred Revenue $2.100M $3.100M
YoY Change -34.38%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $58.30M $72.40M
YoY Change 1.71% 133.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $883.0K $890.0K
YoY Change -82.66%
Total Long-Term Liabilities $883.0K $890.0K
YoY Change -82.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.30M $72.40M
Total Long-Term Liabilities $883.0K $890.0K
Total Liabilities $59.18M $73.29M
YoY Change -5.18% 132.4%
SHAREHOLDERS EQUITY
Retained Earnings $76.56M $76.56M
YoY Change -22.08% -34.52%
Common Stock $21.00K $21.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.53M $100.1M
YoY Change
Total Liabilities & Shareholders Equity $152.7M $173.4M
YoY Change -15.5% 4.98%

Cashflow Statement

Concept 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income $3.754M -$2.027M
YoY Change -523.22% 10568.42%
Depreciation, Depletion And Amortization $1.721M $1.770M
YoY Change 2.56% 88.1%
Cash From Operating Activities -$8.517M -$2.588M
YoY Change -1615.48% -119.95%
INVESTING ACTIVITIES
Capital Expenditures $683.0K $1.120M
YoY Change -40.76% 12.79%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 -$299.0K
YoY Change -100.0%
Cash From Investing Activities -$683.0K -$1.419M
YoY Change -98.15% 42.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$104.0K -19.00K
YoY Change -98.3% -99.69%
NET CHANGE
Cash From Operating Activities -$8.517M -2.588M
Cash From Investing Activities -$683.0K -1.419M
Cash From Financing Activities -$104.0K -19.00K
Net Change In Cash -$9.304M -4.026M
YoY Change -78.13% -168.45%
FREE CASH FLOW
Cash From Operating Activities -$8.517M -$2.588M
Capital Expenditures $683.0K $1.120M
Free Cash Flow -$9.200M -$3.708M
YoY Change 1456.68% -130.96%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates </span></div>The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.
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0 shares
CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
71794 shares
CY2023Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2022Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
10125 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20425282 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20301384 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20380262 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20339064 shares
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49400000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
104100000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
13160000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1468000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
11692000 usd
CY2023Q4 pets Intangible And Other Assets Gross
IntangibleAndOtherAssetsGross
18460000 usd
CY2023Q4 pets Intangibles And Other Assets Accumulated Amortization
IntangiblesAndOtherAssetsAccumulatedAmortization
1468000 usd
CY2023Q4 pets Intangible And Other Assets
IntangibleAndOtherAssets
16992000 usd
CY2023Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
860000 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
860000 usd
CY2023Q1 pets Intangible And Other Assets Gross
IntangibleAndOtherAssetsGross
5860000 usd
CY2023Q1 pets Intangibles And Other Assets Accumulated Amortization
IntangiblesAndOtherAssetsAccumulatedAmortization
0 usd
CY2023Q1 pets Intangible And Other Assets
IntangibleAndOtherAssets
5860000 usd
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 usd
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y1M6D
CY2023Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.038
CY2023Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
215000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
646000 usd
CY2023Q4 us-gaap Variable Lease Cost
VariableLeaseCost
15000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
43000 usd
CY2023Q4 us-gaap Lease Cost
LeaseCost
230000 usd
us-gaap Lease Cost
LeaseCost
689000 usd
CY2023Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
211000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
630000 usd
CY2023Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2220000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2220000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
202000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
501000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
488000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
502000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
42000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1735000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
92000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1643000 usd
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
28700000 usd
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-600000 usd
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1600000 usd
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.234
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.005
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.124
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.234
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001040130-24-000019-index-headers.html Edgar Link pending
0001040130-24-000019-index.html Edgar Link pending
0001040130-24-000019.txt Edgar Link pending
0001040130-24-000019-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pets-20231231.htm Edgar Link pending
pets-20231231.xsd Edgar Link pending
pets-20231231xexx311.htm Edgar Link pending
pets-20231231xexx312.htm Edgar Link pending
pets-20231231xexx321.htm Edgar Link pending
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pets-20231231_cal.xml Edgar Link unprocessable
pets-20231231_def.xml Edgar Link unprocessable
pets-20231231_lab.xml Edgar Link unprocessable
pets-20231231_pre.xml Edgar Link unprocessable
pets-20231231_htm.xml Edgar Link completed
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable