---
schema_version: "secwatch.filing_event.v1"
accession: "0001040130-24-000065"
form_type: "8-K"
ticker: "PETS"
cik: "0001040130"
company_name: "PETMED EXPRESS INC"
filed_at: "2024-08-06T23:59:59+00:00"
generated_at: "2026-05-31T12:05:39.727622+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PetMed Express Q1 net income $3.8M on $8.7M stock comp reversal; sales down 13%

## Summary
- Net sales $68M, down 13% YoY; net income $3.8M ($0.18 diluted) vs loss of $(1.1M) ($(0.06)) prior year.
- Net income increase driven by $8.7M reversal of stock compensation expense from former CEO departure.
- Adjusted EBITDA $(1.5M), $4.9M lower than prior year, due to lower sales and gross profit.
- New CEO Sandra Campos, plus CMO, COO, CDTO appointed; cost reduction and operational streamlining underway.
- Management sees Q1 as transition quarter; early positive indicators from customer growth strategies.

## SEC filing metadata
- accession: 0001040130-24-000065
- form_type: 8-K
- ticker: PETS
- cik: 0001040130
- company_name: PETMED EXPRESS INC
- filed_at: 2024-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1040130/000104013024000065/0001040130-24-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1040130/000104013024000065/pets-20240806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001040130-24-000065
- JSON: https://secwatch.observer/filing/0001040130-24-000065.json
- Plain text: https://secwatch.observer/filing/0001040130-24-000065.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.