PetMeds Q4 Sales Fall 15.6% to $42.8M, Rejects $4.25 Acquisition Bids
PETS•PetMeds posted Q4 net sales of $42.8 million, down 15.6% year-over-year, and a net loss of $4.1 million, improving from a $11.6 million loss. For fiscal 2026 it reported $179.0 million in sales, down 21.1%, and a $57.3 million loss, while declining unsolicited buyout bids of $4.00-$4.25 per share.
1. Fourth Quarter Results
In the quarter ended March 31, 2026 PetMeds reported net sales of $42.8 million, a 15.6% decline from the prior year, driven by lower prescription medication revenues. The company narrowed its net loss to $4.1 million, or $0.19 per share, compared with a $11.6 million loss a year earlier, though adjusted EBITDA fell to negative $2.8 million.
2. Full Year Fiscal 2026 Performance
For the full fiscal year, net sales dropped 21.1% to $179.0 million and the net loss widened to $57.3 million, or $2.74 per share. The year’s results reflected a $26.7 million goodwill impairment, higher stock-based compensation and one-time severance charges, partly offset by lower general and administrative expenses and income tax provisions.
3. Strategic Initiatives and M&A Interest
During fiscal 2026 PetMeds completed cost-structure, operational and technology initiatives to stabilize its core business and bolster retention, including a white-label pharmacy deal with Rural King. In December the board evaluated unsolicited cash offers of $4.00 to $4.25 per share but declined them, remaining open to future proposals while operating independently.
