Q2 2025 Petmed Express Inc Earnings Call Transcript
Key Points
- PetMed Express Inc (PETS) improved its gross margin year over year and sequentially, achieving a $3.6 million sequential increase in adjusted EBITDA.
- The company successfully reduced general and administrative expenses, contributing to a $5 million annualized savings target.
- PetMed Express Inc (PETS) enhanced its customer service, achieving a 4.5-star customer rating on Trustpilot, up from 1.5 stars.
- The company relaunched its website with a modern UX/UI design, improving the shopping experience and planning to introduce AI-enhanced features.
- PetMed Express Inc (PETS) strengthened its relationship with veterinarians, leading to a 9% increase in user engagement through redesigned prescription flow.
- PetMed Express Inc (PETS) experienced a 16% decline in sales compared to the same period last year, reflecting consumer pressure and reduced marketing investment.
- The company faced a challenging promotional environment, with customers increasingly seeking discounts and promotional codes.
- There is a noted decrease in customer compliance with medication and reduced frequency of veterinary visits, impacting sales.
- Despite improvements, the company is still in the early stages of its transformation, indicating ongoing challenges in achieving its strategic goals.
- PetMed Express Inc (PETS) anticipates a lower gross margin in upcoming quarters due to increased promotional activities.
Greetings and welcome to PetMed Express, Inc. second quarter financial results conference call. (operator instructions) It is now my pleasure to introduce your host, Reed Anderson
Thank you, operator. And I'd like to welcome everybody here today to the PetMed Express fiscal second quarter, 2025 earnings conference call. Certain information that will be included during this call may include forward-looking statements within the meaning of the private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934 as amended, that may involve a number of risks and uncertainties. These statements are based on our beliefs as well as assumptions we have used based upon information currently available to us because these statements reflect our current views concerning future events. These statements involve risks, uncertainties and assumptions. Actual results could differ materially from those projected.
There can be no assurance that any
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