PetMed Express received a notice from Nasdaq for late filing its annual report, requiring a compliance plan by September 1, 2025.
Quiver AI Summary
PetMed Express, Inc. has received a notice from Nasdaq regarding its failure to timely file its Annual Report on Form 10-K for the fiscal year ending March 31, 2025, which puts the company out of compliance with Nasdaq Listing Rule 5250(c)(1). Although this notice does not immediately affect the trading of the company's stock, PetMed Express must submit a compliance plan within 60 days, potentially allowing up to 180 additional days to regain compliance. The company has cited challenges in compiling necessary financial information as the reason for the late filing and is actively working to complete the report. PetMed Express, founded in 1996, operates as an online pharmacy for pet healthcare, offering a range of products to support pet wellness.
Potential Positives
- The company has received a notice from Nasdaq that does not have immediate effects on the listing or trading of its common stock, providing a window for compliance.
- PetMed Express has the opportunity to submit a plan to regain compliance and potentially secure an extension from Nasdaq to file its Form 10-K.
- The company is actively working on completing its financial statements and intends to file its Form 10-K as soon as practicable.
- PetMed Express's established presence and operations as a trusted national online pharmacy across all 50 states demonstrate its significant market position in the pet healthcare sector.
Potential Negatives
- The company is currently not in compliance with Nasdaq Listing Rule 5250(c)(1) due to the late filing of its Annual Report on Form 10-K, which raises concerns about its financial reporting practices.
- The necessity to submit a compliance plan to Nasdaq puts additional pressure on the company and may indicate deeper operational or financial issues.
- The company has provided no assurances regarding the timing of the completion and filing of its financial statements, which may lead to ongoing uncertainty among investors.
FAQ
What recent notice did PetMed Express receive from Nasdaq?
PetMed Express received a notice indicating non-compliance with Nasdaq Listing Rule 5250(c)(1) due to late filing of its Form 10-K.
What are the implications of the Nasdaq notice for PetMed Express?
The notice has no immediate effect on trading, but PetMed must submit a plan to regain compliance within 60 days.
What is the deadline for PetMed Express to submit its compliance plan?
PetMed Express has until September 1, 2025, to submit its plan to regain compliance with Nasdaq rules.
Why was PetMed Express unable to file its Form 10-K on time?
The company cited challenges in compiling and reviewing the necessary information for its financial statements.
What is PetMed Express doing to regain compliance with Nasdaq?
PetMed is working diligently to complete its financial statements and plans to file the Form 10-K as soon as possible.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PETS Insider Trading Activity
$PETS insiders have traded $PETS stock on the open market 12 times in the past 6 months. Of those trades, 10 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $PETS stock by insiders over the last 6 months:
- CAPITAL HOLDINGS INC. NINA has made 8 purchases buying 350,000 shares for an estimated $1,498,800 and 0 sales.
- SANDRA YVETTE CAMPOS (CEO & President) has made 0 purchases and 2 sales selling 60,463 shares for an estimated $200,090.
- INVESTMENTS LTD SILVERCAPE has made 2 purchases buying 8,095 shares for an estimated $31,461 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PETS Hedge Fund Activity
We have seen 22 institutional investors add shares of $PETS stock to their portfolio, and 46 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- METAVASI CAPITAL LP removed 340,302 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $1,425,865
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 259,752 shares (-50.6%) from their portfolio in Q1 2025, for an estimated $1,088,360
- DIMENSIONAL FUND ADVISORS LP added 182,121 shares (+84.0%) to their portfolio in Q1 2025, for an estimated $763,086
- AQR CAPITAL MANAGEMENT LLC removed 151,675 shares (-77.5%) from their portfolio in Q1 2025, for an estimated $635,518
- CITADEL ADVISORS LLC added 140,863 shares (+3249.4%) to their portfolio in Q1 2025, for an estimated $590,215
- D. E. SHAW & CO., INC. removed 134,887 shares (-78.4%) from their portfolio in Q1 2025, for an estimated $565,176
- MILLENNIUM MANAGEMENT LLC removed 127,294 shares (-88.3%) from their portfolio in Q1 2025, for an estimated $533,361
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DELRAY BEACH, Fla., July 03, 2025 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (“PetMeds ® ”) (NASDAQ: PETS) received on July 2, 2025, an expected notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of not having timely filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2025 (the “Form 10-K”), with the Securities and Exchange Commission (“SEC”), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires timely filing of all required periodic financial reports with the SEC.
The Notice has no immediate effect on the listing or trading of the Company’s common stock on Nasdaq.
The Notice indicated that the Company must submit a plan to regain compliance with the Listing Rule within 60 calendar days, or until September 1, 2025, and following receipt of such plan, Nasdaq may grant an exception of up to 180 calendar days from the Form 10-K due date, or until December 29, 2025, for the Company to regain compliance. On June 16, 2025, the Company filed a Notification of Late Filing on Form 12b-25 indicating that it was unable, without unreasonable effort or expense, to file its Form 10-K by the prescribed due date because the Company is continuing to compile, review, and analyze the information necessary to complete its financial statements and related disclosures to be included in the Form 10-K, as more fully described in the Company’s Current Report on Form 8-K filed with the SEC on July 1, 2025.
While the Company can provide no assurances as to timing, the Company is working diligently to complete its financial statements for its fiscal year ending March 31, 2025, and the Form 10-K and plans to file the Form 10-K as soon as practicable to regain compliance with the Listing Rule.
About PetMed Express, Inc.
Founded in 1996, PetMeds is a pioneer in the direct-to-consumer pet healthcare sector. As a trusted national online pharmacy, PetMeds is licensed across all 50 states and staffed with expert pharmacists dedicated to supporting pet wellness and the veterinarians who serve them. Through its PETS family of brands, the Company offers a comprehensive range of pet health solutions - including top-brand and generic pharmaceuticals, compounded medications, and better-for-your-pet OTC supplements and nutrition. Focused on value, convenience, and care, PetMeds and PetCareRx empower pet parents to help their dogs, cats, and horses live longer, healthier lives. To learn more, visit www.PetMeds.com and www.PetCareRx.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. Words such as “may,” “could,” “expect,” “project,” “outlook,” “strategy,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “strive,” “goal,” “continue,” “likely,” “will,” “would” and other similar words and expressions are intended to signify forward-looking statements. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain and are subject to various risks and uncertainties, including: statements regarding the Company’s ability to complete the filing of the Form 10-K within the anticipated time period; the Company’s ability to regain compliance with Nasdaq listing standards; and the time required to complete the Company’s financial statements for its fiscal year ending March 31, 2025. The Company’s future results may also be impacted by other risk factors listed from time to time in the Company’s filings with the SEC, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended March 31, 2024, as well as other subsequent filings on Form 10-Q and periodic filings on Form 8-K. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements, other than as may be required by law. If the Company does update one or more forward-looking statements, no inference should be made that the Company will make additional updates with respect to those or other forward-looking statements.
Investor Contact:
ICR, LLC
John Mills
Reed Anderson
(646) 277-1260
[email protected]