10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-018341`
Period End Date	20220630
Filing Date	20220802
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	pets20220630_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 48

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$39.00K	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$36.00K	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$105.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$111.08M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	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 $36 and $39, respectively	`AccountsReceivableNetCurrent`	$1.78M	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 $36 and $39, respectively	`AccountsReceivableNetCurrent`	$1.91M	USD	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	3,000.00	shares	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$22.57M	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$32.45M	USD	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	3,000.00	shares	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.42M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.87M	USD	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	3,000.00	shares	Point-in-time
Preferred Stock, Liquidation Preference Per Share (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$681.00K	USD	Point-in-time
Preferred Stock, Liquidation Preference Per Share (in dollars per share)	`PreferredStockLiquidationPreference`	$4.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$134.19M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.69M	USD	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	20.99M	shares	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares)	`CommonStockSharesOutstanding`	20.99M	shares	Point-in-time
Minority interest investment in Vetster	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	-	USD	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares)	`CommonStockSharesOutstanding`	20.98M	shares	Point-in-time
Minority interest investment in Vetster	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$5.00M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$25.32M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$30.55M	USD	Point-in-time
Total assets	`Assets`	$164.74M	USD	Point-in-time
Total assets	`Assets`	$176.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$27.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.03M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$5.70M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$6.03M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$839.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.20M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$642.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$936.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$24.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.13M	USD	Point-in-time
Commitments and contingincies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingincies	`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; 20,989 and 20,979 shares issued and outstanding, respectively	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,989 and 20,979 shares issued and outstanding, respectively	`CommonStockValue`	$21.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$126.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$130.50M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.19M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$140.20M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$176.32M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$164.74M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$70.19M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$79.31M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$57.53M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$50.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$19.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$21.78M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.35M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$6.35M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$7.67M	USD	1 Quarter
Depreciation	`Depreciation`	$753.00K	USD	1 Quarter
Depreciation	`Depreciation`	$647.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$16.45M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$16.36M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.49M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.42M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$117.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$85.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$284.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$198.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$369.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$315.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.81M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.79M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.36M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.03M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.77M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.11M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.21M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.29M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.20M	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`	$0.30	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.77M	USD	1 Quarter
Depreciation	`Depreciation`	$753.00K	USD	1 Quarter
Depreciation	`Depreciation`	$647.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$1.54M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$718.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-294.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-167.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$45.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$29.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-86.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-396.00K	USD	1 Quarter
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-5.25M	USD	1 Quarter
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-9.88M	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-681.00K	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-959.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-442.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-451.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-14.83M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.47M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.15M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$97.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$569.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$839.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-422.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.38M	USD	1 Quarter
Purchase of minority interest investment in Vetster	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	-	USD	1 Quarter
Purchase of minority interest investment in Vetster	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$5.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$477.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$982.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-477.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.98M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.03M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.06M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.06M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.03M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.67M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.93M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$111.79M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.72M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$105.41M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$111.08M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$111.79M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.72M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$105.41M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$111.08M	USD	Point-in-time
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$245.00K	USD	1 Quarter
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$791.00K	USD	1 Quarter

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