Petmed Express, Inc. · NASDAQ:PETS
Petmed Express — Q3 FY2022 Earnings Presentation
15 slides from Petmed Express's earnings presentation, Jan 24, 2022
Slide 1: Q3 FY22 Earnings Call
Q3 FY22 Earnings Call January 24, 2022
Slide 2: Safe Harbor and Non-GAAP Measures
Safe Harbor and Non-GAAP Measures This Presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amend
Slide 3: Introduction
Introduction
Slide 4: $107 Billion Pet Market In the U.S.
$107 Billion Pet Market In the U.S. Vet Care & RX Medications grew 12.7% In 2020 $107B Pet Market $8B Rx Pet Medication Market $2B OTC Pet Medication Market Source: Packaged Facts, U.S. Pet Market Outlook, 2021-2022
Slide 5: Key Industry Trends Are Favorable
Key Industry Trends Are Favorable Increasing Pet Increase in digital Customers are Rise in human Ownership pet product sales increasingly seeking telehealth is a pet healthy promising proxy for destinations televet opportunities
Slide 6: Key Assets To Leverage
Key Assets To Leverage Key Insights ● Widely Known And Trusted Brand Strong Quality and Supplier ● Operational And Quality Efficiency Operations Relationships ● 70,000 + Veterinarian And Vet Established Clinics, 17,000k Using Our Online Brand Credibility Portal Customer ● Strong Customer loyalty Cat
Slide 7: Company Highlights
Company Highlights Expert online pet pharmacy 2+ 2.2 million unique customers 81 Net Promoter Score of 81 Loyal customer base Strong balance sheet 25 % Growing subscriber base with AutoShip
Slide 8: Q3 Results
Q3 Results 3rd Fiscal Quarter: • Sales were $60.7 million • Reorder sales were $56.3 million; New sales were $4.4 million • AOV was $89 • Gross profit as a percent of sales in Q3 was 29.2% • Net Income was $4.3 million, and Adjusted EBITDA was $7.6 million • EPS was $0.21, and Adjusted EBITDA per sh
Slide 9: Transformation Update
Transformation Update We See Opportunities To Improve The Business People 3 New Executives Process Media Spend + New Customer Segments Strategy Pet Telehealth Pilot
Slide 10: Vision & Mission
Vision & Mission
Slide 11: Q3 FY22 Financials
Q3 FY22 Financials January 24, 2022
Slide 12: Q3 Financial Statements: Condensed Consolidated Balance Sheets
Q3 Financial December 31, March 31, 2021 2021 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 108,911 $ 118,718 Statements Accounts receivable, less allowance for doubtful accounts of $19 and $39, respectively Inventories - finished goods, net Prepaid expenses and other current assets
Slide 13: Q3 Financial Statements: Condensed Consolidated Statements of Income
Q3 Financial Three Months Ended 2021 December 31, 2020 Nine Months Ended 2021 December 31, 2020 Statements Sales Cost of sales Gross profit $ 60,717 $ 42,992 17,725 65,896 $ 46,273 19,623 207,415 $ 148,736 58,679 237,536 168,110 69,426 Operating expenses: Condensed Consolidated General and administr
Slide 14: Q3 Financial Statements: Condensed Consolidated Statements of Cash Flow
Nine Months Ended Q3 Financial December 31, 2021 2020 Cash flows from operating activities: Net income $ 15,034 $ 23,791 Statements Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 2,051 1,791 Share based compensation 3,040 2,294 Deferred income taxes (1
Slide 15: Reconciliation of Non-GAAP Measures
Q3 Financial Reconciliation of Non-GAAP Measures PetMed Express, Inc. (in thousands) (Unaudited) ($ in thousands, except percentages and per share amounts) Three Months Ended Nine Months Ended Statements December 31, December 31, December 31, December 31, 2021 2020 $ Change % Change 2021 2020 $ Chan