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Petmed Express cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$8.3M in Q1 FY27 · −$27.8M over twelve months

Operating cash flow−$7.7M
Capital spending−$641K
Free cash flow−$8.3M
Cash conversion cycle-13 days

Analysis

In Q1 FY27, Petmed Express generated −$7.7M of operating cash flow and spent $641K on capital projects, leaving free cash flow of −$8.3M. That is $5.2M more than in Q1 FY26 (−$13.6M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$23.8M; the largest uses were operating cash flow ($23.8M), capital spending ($4.0M), taxes on employees’ shares ($254K); the cash balance fell by $28.0M.

Operating cash flow was −$7.7M against net income of −$6.1M. The largest differences: payables −$8.6M, inventory +$5.1M, depreciation & amortization +$2.1M.

Its cash conversion cycle was -13 days (receivables 4 + inventory 34 − payables 51): suppliers fund its working capital.

Free cash flow

Petmed Express: free cash flow by quarterPetmed Express: free cash flow by quarter$6.1MQ2 FY25−$1.9MQ3 FY25$4.6MQ4 FY25−$13.6MQ1 FY26−$4.8MQ2 FY26−$9.2MQ3 FY26−$5.5MQ4 FY26−$8.3MQ1 FY27
Operating cash flow less capital spending.
Petmed Express: operating cash flow against capital spendingPetmed Express: operating cash flow against capital spendingOperating cash flowCapital spending$7.4M$1.3MQ2 FY25−$1.2M$777KQ3 FY25$7.0M$2.4MQ4 FY25−$12.3M$1.3MQ1 FY26−$2.2M$2.6MQ2 FY26−$9.2M−$21KQ3 FY26−$4.7M$720KQ4 FY26−$7.7M$641KQ1 FY27
Latest (Q1 FY27): Operating cash flow −$7.7M, Capital spending $641K.

Capital allocation, year by year

Petmed Express: where the cash came from (up) and went (down), by fiscal yearPetmed Express: where the cash came from (up) and went (down), by fiscal yearOperating cash flowCapital spendingAcquisitionsDividendsFY22: Operating cash flow $18.5MFY22: Capital spending −$1.8MFY22: Dividends −$24.4M$18.5MFY22FY23: Operating cash flow $27.8MFY23: Capital spending −$5.3MFY23: Dividends −$24.5M$27.8MFY23FY24: Operating cash flow $4.3MFY24: Capital spending −$4.5MFY24: Acquisitions −$35.9MFY24: Dividends −$12.4M$4.3MFY24FY25: Operating cash flow $4.7MFY25: Capital spending −$5.1MFY25: Dividends −$181K$4.7MFY25FY26: Operating cash flow −$28.4MFY26: Capital spending −$4.6MFY26: Dividends −$21KFY26
Over these 5 years operating cash flow totalled $26.9M; the largest uses were dividends ($61.6M) and acquisitions ($35.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$13.1M
Debtnone
Net cash$13.1M
Cash runway6 months

Petmed Express is burning cash: its operations consume cash, a free cash flow of −$27.8M a year at the current rate against $13.1M of cash and investments: a runway of about 6 months before any new financing.

Where the cash came from and went

Petmed Express: sources (+) and uses (−) of cash, Q1 FY27Petmed Express: sources (+) and uses (−) of cash, Q1 FY27Cash drawn (+) / kept (−)$8.3MOperating cash flow−$7.7MCapital spending−$641KTaxes on employees’ shares−$5K
Petmed Express: sources (+) and uses (−) of cash, TTM to Q1 FY27Petmed Express: sources (+) and uses (−) of cash, TTM to Q1 FY27Cash drawn (+) / kept (−)$28.0MOperating cash flow−$23.8MCapital spending−$4.0MTaxes on employees’ shares−$254KDividends−$20K

From profit to cash

Petmed Express: net income to operating cash flow, Q1 FY27Petmed Express: net income to operating cash flow, Q1 FY27Net income−$6.1MDepreciation & amortization$2.1MStock-based pay$198KReceivables$202KInventory$5.1MPayables−$8.6MAccrued liabilities−$1.2MDeferred revenue−$60KPrepaid and other assets$2.1MIncome taxes payable−$20KOperating cash flow−$7.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2743451-13
Q2 FY2644856-5
Q1 FY2634354-8
Q4 FY2543544-4
Q3 FY2533236-0

Every quarter

QuarterOperating cash flowCapital spendingDividendsCash drawn (+) / kept (−)Free cash flow
Q1 FY27−$7.7M−$641K—$8.3M−$8.3M
Q4 FY26−$4.7M−$720K$3K$5.5M−$5.5M
Q3 FY26−$9.2M$21K−$1K$9.2M−$9.2M
Q2 FY26−$2.2M−$2.6M−$22K$5.0M−$4.8M
Q1 FY26−$12.3M−$1.3M−$1K$13.6M−$13.6M
Q4 FY25$7.0M−$2.4M−$5K−$4.6M$4.6M
Q3 FY25−$1.2M−$777K−$1K$1.9M−$1.9M
Q2 FY25$7.4M−$1.3M−$71K−$6.1M$6.1M

Petmed Express: income statement and cash flow

Petmed Express, Q1 FY27: revenue $41.0M (-20% year over year), operating margin -15.2%. The chart follows the revenue to costs, profit and cash.

Petmed Express: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.