10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001040130-23-000013`
Period End Date	20221231
Filing Date	20230207
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	pets-20221231_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`	$40.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$39.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$111.08M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.43M	USD	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 $40 and $39, respectively	`AccountsReceivableNetCurrent`	$1.91M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $40 and $39, respectively	`AccountsReceivableNetCurrent`	$1.94M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	3,000.00	shares	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$22.40M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$32.45M	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`	$4.87M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.64M	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$1.61M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$681.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$134.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$151.00M	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	20.98M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	21.08M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	21.08M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	20.98M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.24M	USD	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`	$25.32M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$31.10M	USD	Point-in-time
Total assets	`Assets`	$176.32M	USD	Point-in-time
Total assets	`Assets`	$165.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$27.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$24.32M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$5.70M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$6.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.20M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$465.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$936.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$31.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.13M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	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`	$16.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$130.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$116.91M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$133.59M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.19M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$176.32M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$165.12M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$207.41M	USD	3 Qtrs
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$60.72M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$58.87M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$194.45M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$43.63M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$140.82M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$148.74M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$42.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$53.63M	USD	3 Qtrs
Gross profit	`GrossProfit`	$58.68M	USD	3 Qtrs
Gross profit	`GrossProfit`	$17.73M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$22.54M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.54M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.53M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.43M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$4.64M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$4.33M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$15.44M	USD	3 Qtrs
Advertising	`AdvertisingExpense`	$14.87M	USD	3 Qtrs
Depreciation	`Depreciation`	$710.00K	USD	1 Quarter
Depreciation	`Depreciation`	$2.55M	USD	3 Qtrs
Depreciation	`Depreciation`	$2.05M	USD	3 Qtrs
Depreciation	`Depreciation`	$941.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$47.95M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$12.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$40.03M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$16.01M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-769.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$18.65M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$5.15M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$5.68M	USD	3 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$708.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$1.21M	USD	3 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$84.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$243.00K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$287.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$259.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$718.00K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$741.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$1.93M	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$984.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$371.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$967.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.64M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.61M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.52M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$198.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.28M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$217.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.60M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-19.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$5.33M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$15.03M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.75	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.26	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.74	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.16M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.30M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.21M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.26M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.36M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.33M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.34M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.30M	shares	1 Quarter
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`	$0.90	USD	3 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.90	USD	3 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 (loss)	`NetIncomeLoss`	$-19.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$5.33M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$15.03M	USD	3 Qtrs
Depreciation	`Depreciation`	$710.00K	USD	1 Quarter
Depreciation	`Depreciation`	$2.55M	USD	3 Qtrs
Depreciation	`Depreciation`	$2.05M	USD	3 Qtrs
Depreciation	`Depreciation`	$941.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$4.99M	USD	3 Qtrs
Share based compensation	`ShareBasedCompensation`	$3.04M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-19.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-471.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$104.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$292.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.22M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$324.00K	USD	3 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-10.05M	USD	3 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-6.78M	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$927.00K	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$911.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$771.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.29M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-17.61M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.18M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$536.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.19M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.78M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.08M	USD	3 Qtrs
Purchase of minority interest investment in Vetster	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$5.00M	USD	3 Qtrs
Purchase of minority interest investment in Vetster	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	-	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.27M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.33M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.27M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.33M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$18.32M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$18.40M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.40M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.32M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.81M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.65M	USD	3 Qtrs
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.91M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$118.72M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$102.43M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.08M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.91M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$118.72M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$102.43M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.08M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$5.58M	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$3.87M	USD	3 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$329.00K	USD	3 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$1.08M	USD	3 Qtrs

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