secwatch.observer — SEC 8-K summary
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Issuer:     PETMED EXPRESS INC (PETS)
CIK:        0001040130
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0001040130-24-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PetMed Express Q3 net loss $2.0M; completes sales tax restatement
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- Revenue $65.3M, up 11% YoY, driven by PetCareRx acquisition; legacy sales declined.
- Net loss $(0.10)/diluted share vs $(0.01) loss last year; Adjusted EBITDA $924K vs $2.7M.
- Cash $49.4M, no debt; AutoShip & Save and PetPlus made up 52% of revenue (vs 42% a year ago).
- Restatement completed; sales tax liability now $24.2M from prior $7.8M as of Mar 2023.
- Company now current on all SEC filings; restatement had no impact on FY2024 revenue or cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1040130/000104013024000020/0001040130-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1040130/000104013024000020/pets-20240415.htm
  HTML page:      https://secwatch.observer/filing/0001040130-24-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer