10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001040130-22-000008`
Period End Date	20220930
Filing Date	20221108
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	pets-20220930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 76 Cash Flow Statement 52

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$39.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$32.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$111.08M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $32 and $39, respectively	`AccountsReceivableNetCurrent`	$1.59M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	3,000.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	3,000.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $32 and $39, respectively	`AccountsReceivableNetCurrent`	$1.91M	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$32.45M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$34.02M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.87M	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.46M	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$681.00K	USD	Point-in-time
Common stock, par or value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$595.00K	USD	Point-in-time
Common stock, par or value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$138.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$151.00M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	21.08M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	20.98M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	20.98M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.19M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	21.08M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.46M	USD	Point-in-time
Intangible and other assets	`IntangibleAndOtherAssets`	$860.00K	USD	Point-in-time
Intangible and other assets	`IntangibleAndOtherAssets`	$5.86M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$31.05M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$25.32M	USD	Point-in-time
Total assets	`Assets`	$176.32M	USD	Point-in-time
Total assets	`Assets`	$169.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$27.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.98M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$6.58M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$5.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.20M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$936.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$547.00K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$31.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.13M	USD	Point-in-time
Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share	`PreferredStockValue`	$9.00K	USD	Point-in-time
Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share	`PreferredStockValue`	$9.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 21,077 and 20,979 shares issued and outstanding, respectively	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 21,077 and 20,979 shares issued and outstanding, respectively	`CommonStockValue`	$21.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$14.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$123.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$130.50M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$138.15M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.19M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$169.26M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$176.32M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$67.39M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$146.70M	USD	2 Qtrs
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$135.58M	USD	2 Qtrs
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$65.39M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$105.74M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$48.21M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$97.19M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$46.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$40.95M	USD	2 Qtrs
Gross profit	`GrossProfit`	$38.39M	USD	2 Qtrs
Gross profit	`GrossProfit`	$19.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.96M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$20.10M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$15.00M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$3.88M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$3.44M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$11.11M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$10.23M	USD	2 Qtrs
Depreciation	`Depreciation`	$858.00K	USD	1 Quarter
Depreciation	`Depreciation`	$694.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.34M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.61M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$27.45M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$11.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$15.49M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$31.94M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$6.45M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$8.09M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$13.51M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.96M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$505.00K	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$388.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$159.00K	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$74.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$170.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$454.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$459.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$261.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$649.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$613.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$244.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$964.00K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.33M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.42M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.61M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.12M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.34M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.98M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.03M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.06M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$10.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.58M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.53	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.26	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.53	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.23M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.18M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.26M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.14M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.34M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.32M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.57M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.38M	shares	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.60	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.60	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$10.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.58M	USD	1 Quarter
Depreciation	`Depreciation`	$858.00K	USD	1 Quarter
Depreciation	`Depreciation`	$694.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.34M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.61M	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.60M	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$3.22M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-389.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$346.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$58.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$66.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-675.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-257.00K	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$1.57M	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-14.69M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-86.00K	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-60.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-106.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$597.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.36M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.52M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-210.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$590.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.07M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.11M	USD	2 Qtrs
Purchase of minority interest investment in Vetster	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$5.00M	USD	2 Qtrs
Purchase of minority interest investment in Vetster	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	-	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.34M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$972.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-972.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.34M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$12.31M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$12.26M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.31M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.26M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-14.53M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.16M	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.56M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.55M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.08M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$118.72M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.56M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.55M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.08M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$118.72M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$2.94M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$2.56M	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$110.00K	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$856.00K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.