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Silvercape Investments Ltd, a ten-percent owner of Petmed Express Inc (NASDAQ:PETS), recently purchased 31,701 shares of the company’s common stock. The transaction, which occurred on July 17, 2025, involved a purchase at a price of $3.15 per share, totaling $99858. Following this transaction, Silvercape Investments Ltd. directly owns 2,342,931 shares of Petmed Express Inc.
In other recent news, PetMed Express , Inc. has announced a delay in filing its annual report for the fiscal year ending March 31, 2025, due to an ongoing whistleblower investigation concerning revenue recognition practices and other issues. The company had initially expected to submit the report by July 1, 2025, but the investigation by its Audit Committee is still underway. Preliminary fourth-quarter results indicate a decline in sales, with estimates ranging between $51.1 million and $53.1 million, compared to $66.5 million in the same period last year. The company projects a quarterly net loss between $9.9 million and $10.4 million. For the full fiscal year, sales are expected to be between $231.6 million and $233.6 million, down from $281.1 million the previous year, with an annual net loss estimated between $4.5 million and $5.0 million.
Additionally, PetMed Express has received a Nasdaq non-compliance notice for failing to timely file its annual report, though this does not immediately affect the listing or trading of its stock. The company is working to regain compliance and has until September 1 to submit a compliance plan to Nasdaq. In a strategic move, PetMed Express has partnered with Dutch, a virtual veterinary care provider, to integrate telemedicine services with its medication offerings. This partnership aims to improve access to pet healthcare amidst a nationwide veterinary shortage, offering 24/7 virtual appointments and prescription services in 34 states. PetMed Express continues to work diligently to complete its financial review and file its Form 10-K as soon as practicable.
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