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.

PetMed Express, Inc. entered into a definitive agreement to sell its headquarters and distribution center buildings in Delray Beach, Florida, to Redfearn Capital Acquisitions, LLC for $37.0 million via a sale-leaseback transaction. The company will lease back 100,519 square feet of space for a 120-month term with a starting base rent of $15.25 per square foot and annual 3.5% increases. PetMed Express, Inc. operates in the pet healthcare sector as an online pharmacy provider.

Leah A. Solivan informed PetMed Express, Inc. of her decision not to stand for reelection at the upcoming 2026 annual meeting of stockholders scheduled for August 11, 2026. She will remain on the Board of Directors until that meeting occurs. The company stated her decision was not due to any disagreements regarding operations, policies, or practices. PetMed Express, Inc. is a pet health and wellness company providing products and services to pet owners.