PetMed Express delays FY2025 10-K; Audit Committee probes whistleblower reports on revenue recognition

PETMED EXPRESS INC

10-K filing delayed beyond July 1 extension; Audit Committee investigating anonymous whistleblower reports.
Reports focus on timing of revenue recognition for Q4 autoship orders and a $50 coupon promotion's effect on new customer KPIs.
Investigation ongoing with external legal counsel; no conclusions yet; company does not expect material impact on preliminary results.
Company working to file 10-K as soon as practicable; no definitive timeline provided.

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