10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-022358`
Period End Date	20200930
Filing Date	20201103
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	pets20200930_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 76 Cash Flow Statement 54

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$103.76M	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`	$106.34M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $34 and $59, respectively	`AccountsReceivableNetCurrent`	$3.84M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $34 and $59, respectively	`AccountsReceivableNetCurrent`	$2.21M	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
Inventories - finished goods, net	`InventoryFinishedGoods`	$21.45M	USD	Point-in-time
Inventories - finished goods, net	`InventoryFinishedGoods`	$17.88M	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	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`	$3.53M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.61M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$129.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$132.62M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par 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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.45M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	20.27M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	20.17M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	20.27M	shares	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$26.33M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$26.30M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	20.17M	shares	Point-in-time
Total assets	`Assets`	$158.95M	USD	Point-in-time
Total assets	`Assets`	$155.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.06M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$4.21M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$4.49M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$618.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$471.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.16M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$1.38M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$970.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.31M	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; 20,272 and 20,166 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,272 and 20,166 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$131.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$126.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$130.01M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$136.41M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$158.95M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$155.32M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$75.44M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$69.94M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$171.64M	USD	2 Qtrs
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$149.92M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$108.06M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$49.93M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$121.84M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$52.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$49.80M	USD	2 Qtrs
Gross profit	`GrossProfit`	$23.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$41.86M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$14.56M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.81M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.30M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.81M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$14.16M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$13.38M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$4.76M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$5.13M	USD	1 Quarter
Depreciation	`Depreciation`	$1.14M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.17M	USD	2 Qtrs
Depreciation	`Depreciation`	$607.00K	USD	1 Quarter
Depreciation	`Depreciation`	$572.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$29.90M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$27.33M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$12.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.63M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.37M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$14.53M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$19.91M	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$1.03M	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$156.00K	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$66.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$459.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$593.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$561.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$304.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$338.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$1.59M	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$749.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$404.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$763.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.13M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$20.66M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.12M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.88M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.11M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.46M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.48M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.01M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$8.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.67M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.81	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.60	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.60	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.06M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.02M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.10M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.96M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.11M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.10M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.97M	shares	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.54	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.56	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.28	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.27	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$16.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.01M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$8.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.67M	USD	1 Quarter
Depreciation	`Depreciation`	$1.14M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.17M	USD	2 Qtrs
Depreciation	`Depreciation`	$607.00K	USD	1 Quarter
Depreciation	`Depreciation`	$572.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$1.51M	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.36M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$274.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$408.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$61.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$64.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.01M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.57M	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-2.31M	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$3.57M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-582.00K	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-916.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.43M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.60M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.12M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$568.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$391.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$147.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$525.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.19M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.29M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$416.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.19M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-416.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.19M	USD	2 Qtrs
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	$11.50M	USD	2 Qtrs
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$11.01M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$11.41M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.41M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-22.51M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.63M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.58M	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$94.90M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$106.34M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$100.53M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.76M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$94.90M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$106.34M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$100.53M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.76M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$2.73M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$4.21M	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$126.00K	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$155.00K	USD	2 Qtrs

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