PetMed Express, Inc. (PETS) reported its first-quarter fiscal 2027 results on June 30, 2026, revealing a loss of 28 cents per share, improving from a loss of $1.65 per share in the same quarter last year. However, the company’s net sales fell by 19.9% year-over-year to $41 million, down from $51.2 million, largely due to decreased prescription medication sales.
Recurring net sales, which encompass AutoShip and membership-related revenue, constituted 61.5% of total gross sales, an increase from 57.6% a year prior. New customer acquisition rose, with about 70,000 new customers added, and the cost to acquire a customer decreased by 15% to $60. The company ended the quarter with $13.1 million in cash, down from $21.4 million a year earlier, and is pursuing a 10-year sale-leaseback transaction for its Delray Beach, FL headquarters valued at $37 million, expected to close within 120 days.
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