PetVivo (PETV) Q1 2026 earnings summary

Executive summary

• Revenue grew 141% year-over-year to $298,000, driven by expanded distributor network, new product launches, and the VetStem licensing agreement, with increased adoption in both U.S. and international markets.

• Gross profit increased 69% to $187,000, with a gross margin of 63% due to a shift in product sales mix.

• Operating loss improved by 9% to $1.8 million, reflecting cost reductions and restructuring.

• Net loss was $2.3 million, or $0.09 per share, impacted by non-cash expenses and derivative liability losses.

• Cash position increased to $3.3 million, primarily from $4.7 million in financing activities.

Financial highlights

• Total revenue rose 141% year-over-year to $298,000, with distributor sales up 192% to $198,000, representing 67% of total revenue.

• Gross profit for the quarter was $187,000, up from $110,757 year-over-year.

• Operating expenses decreased 9% to $2 million, mainly due to lower G&A and R&D costs.

• Net loss per share improved to $0.09 from $0.11 year-over-year.

• Total liabilities decreased by 39% quarter-over-quarter, including lease termination and convertible note modifications.

Outlook and guidance

• Anticipates continued strong sales momentum and market penetration for fiscal 2026 and beyond, supported by favorable industry growth trends.

• Expects commercial launch of PetAI technology in Q3 2026.

• Management expects $5 million Series B preferred stock proceeds to fund operations until December 31, 2025, but additional capital will be needed beyond this period.

• Anticipates a favorable impact on effective tax rate from the 2025 federal corporate tax rate reduction, effective fiscal 2027.