PetMed Express reported first quarter results ending June 30, 2026, with net sales of $41.0 million, a 19.9% decline from the prior year period due to lower prescription medication sales and reduced consumer promotional usage. The company posted a net loss of $6.1 million, or $(0.28) per diluted share, compared to a net loss of $34.2 million in the prior year, primarily driven by the absence of goodwill and trade name impairment charges. Adjusted EBITDA was negative $3.4 million. Management highlighted sequential sales stabilization, a 15% reduction in customer acquisition costs, and the completion of an enterprise-wide SAP ERP rollout. The company also noted a recently announced sale-leaseback transaction intended to strengthen its balance sheet. PetMed Express operates as a direct-to-consumer online pharmacy specializing in pet pharmaceuticals and health solutions.
