Filing Flows › Petmed Express (PETS) › Q1 FY26
Petmed Express (PETS) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Dec 19, 2025
Petmed Express (PETS) reported revenue of $51.2M for the first quarter fiscal 2026 (Q1 FY26), -23% from a year earlier and +0.8% from the quarter before. Operating margin was -66.7%, net loss $34.2M (66.7% of revenue).
Petmed Express, Q1 FY26: revenue $51.2M (-23% year over year), operating margin -66.7%, net loss $34.2M, operating cash flow −$12.3M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $51.2M | +0.8% | -23% |
| Operating profit | −$34.1M | — | — |
| Net earnings | −$34.2M | — | — |
| Operating cash flow | −$12.3M | -275% | — |
What changed
Revenue was $51.2M in Q1 FY26, down 23% year over year and up 1% from the previous quarter.
Gross margin was 28.1%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $34.1M, an operating margin of -66.7%. Operating expenses grew 231% against a revenue fall of 23%. The fastest-growing cost line was Other operating costs (+264%). The quarter ended with a net loss of $34.2M, wider than the previous quarter's $11.6M loss.
Operating cash flow was −$12.3M. Non-cash charges added back $2.3M of depreciation and amortization and $591K of share-based compensation. Working capital and other items added $19.0M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$13.6M.
Questions
What was Petmed Express' revenue in the first quarter fiscal 2026?
Petmed Express (PETS) reported revenue of $51.2M for the first quarter fiscal 2026 (Q1 FY26), -23% from a year earlier and +0.8% from the quarter before.
Was Petmed Express profitable in the first quarter fiscal 2026?
Operating loss was $34.1M (-66.7% of revenue) and net loss $34.2M.
Source: Petmed Express 10-Q on SEC EDGAR.