Filing Flows › Petmed Express (PETS) › Q2 FY26
Petmed Express (PETS) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Dec 19, 2025
Petmed Express (PETS) reported revenue of $44.4M for the second quarter fiscal 2026 (Q2 FY26), -24% from a year earlier and -13% from the quarter before. Operating margin was -18.9%, net loss $8.5M (19.2% of revenue).
Petmed Express, Q2 FY26: revenue $44.4M (-24% year over year), operating margin -18.9%, net loss $8.5M, operating cash flow −$2.2M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.4M | -13% | -24% |
| Operating profit | −$8.4M | — | — |
| Net earnings | −$8.5M | — | — |
| Operating cash flow | −$2.2M | — | — |
What changed
Revenue was $44.4M in Q2 FY26, down 24% year over year and down 13% from the previous quarter.
Gross margin was 28.0%, down 4.4 points from a year earlier. Operating costs exceeded revenue by $8.4M, an operating margin of -18.9%. Operating expenses grew 14% against a revenue fall of 24%. The fastest-growing cost line was General & admin (+35%). The quarter ended with a net loss of $8.5M, narrower than the previous quarter's $34.2M loss.
Operating cash flow was −$2.2M. Non-cash charges added back $2.3M of depreciation and amortization and $200K of share-based compensation. Working capital and other items added $3.9M. Capital expenditures of $2.6M exceeded it, leaving free cash flow of −$4.8M.
Questions
What was Petmed Express' revenue in the second quarter fiscal 2026?
Petmed Express (PETS) reported revenue of $44.4M for the second quarter fiscal 2026 (Q2 FY26), -24% from a year earlier and -13% from the quarter before.
Was Petmed Express profitable in the second quarter fiscal 2026?
Operating loss was $8.4M (-18.9% of revenue) and net loss $8.5M.
Source: Petmed Express 10-Q on SEC EDGAR.