10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-024890`
Period End Date	20210930
Filing Date	20211102
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	pets20210930_10q_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`	$28.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$39.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$118.72M	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`	$106.56M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $28 and $39, respectively	`AccountsReceivableNetCurrent`	$1.85M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $28 and $39, respectively	`AccountsReceivableNetCurrent`	$2.59M	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`	$34.42M	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	USD	Point-in-time
Inventories - finished goods, net	`InventoryFinishedGoods`	$19.73M	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	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`	$4.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.40M	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
Prepaid income taxes	`PrepaidTaxes`	$899.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$959.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$161.19M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.44M	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
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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.45M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	20.27M	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`	20.94M	shares	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$25.94M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$26.31M	USD	Point-in-time
Total assets	`Assets`	$187.50M	USD	Point-in-time
Total assets	`Assets`	$159.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.55M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$5.39M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$5.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.27M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$1.63M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$1.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.90M	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; 20,943 and 20,269 shares issued and outstanding, respectively	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,943 and 20,269 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$134.14M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$132.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$141.28M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$141.49M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$187.50M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$159.39M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$171.64M	USD	2 Qtrs
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$146.70M	USD	2 Qtrs
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$67.39M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$75.44M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$121.84M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$48.21M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$52.42M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$105.74M	USD	2 Qtrs
Gross profit	`GrossProfit`	$23.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$40.95M	USD	2 Qtrs
Gross profit	`GrossProfit`	$49.80M	USD	2 Qtrs
Gross profit	`GrossProfit`	$19.17M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.96M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.00M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.81M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.56M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$14.16M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$11.11M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$5.13M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$3.44M	USD	1 Quarter
Depreciation	`Depreciation`	$1.17M	USD	2 Qtrs
Depreciation	`Depreciation`	$694.00K	USD	1 Quarter
Depreciation	`Depreciation`	$607.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.34M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$11.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$29.90M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$27.45M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$19.91M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$10.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.09M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$13.51M	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$66.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$156.00K	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$74.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$159.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$593.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$454.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$338.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$170.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$244.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$749.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$613.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$404.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.88M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.12M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$20.66M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.33M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.34M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.48M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.46M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.98M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$16.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.41M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.53	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.81	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.53	USD	2 Qtrs
Weighted average number of common shares outstanding used in basic computation (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.18M	shares	1 Quarter
Weighted average number of common shares outstanding used in basic computation (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.06M	shares	1 Quarter
Weighted average number of common shares outstanding used in basic computation (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.02M	shares	2 Qtrs
Weighted average number of common shares outstanding used in basic computation (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.14M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.10M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.38M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.57M	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`	$0.28	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`	$0.56	USD	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$10.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$16.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.41M	USD	1 Quarter
Depreciation	`Depreciation`	$1.17M	USD	2 Qtrs
Depreciation	`Depreciation`	$694.00K	USD	1 Quarter
Depreciation	`Depreciation`	$607.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.34M	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.60M	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.51M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$408.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$346.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$61.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$58.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.57M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-675.00K	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-14.69M	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$3.57M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-60.00K	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-106.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-916.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.36M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.60M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$391.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-210.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$147.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.07M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.19M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.19M	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`	$-1.19M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$11.41M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$12.26M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.41M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.26M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.58M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.16M	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.76M	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`	$106.56M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.72M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.76M	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`	$106.56M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.72M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$2.94M	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`	$110.00K	USD	2 Qtrs

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