PetMed Express Inc. has announced its preliminary fourth quarter and fiscal year 2025 results. For the fourth quarter ended March 31, 2025, the company estimates net sales to range from $51.1 million to $53.1 million, compared to $66.5 million in the same period the previous year. The net loss for the fourth quarter is estimated to be between $9.9 million and $10.4 million, a decline from a net loss of $5.0 million in the prior year period. This loss includes a $6.4 million tax expense impact from a valuation allowance on the company's net deferred tax assets. For the full fiscal year ended March 31, 2025, net sales are projected to be between $231.6 million and $233.6 million, down from $281.1 million in the previous fiscal year. The net loss for the fiscal year is expected to range from $4.5 million to $5.0 million, an improvement from a net loss of $7.5 million recorded in the prior year. This includes an $8.7 million benefit from a one-time non-cash stock compensation reversal due to an executive departure, in addition to the aforementioned tax expense impact. As of March 31, 2025, PetMed Express Inc. reported having $54.7 million in cash and no outstanding debt. The company has indicated that its earnings release and conference call for the fourth quarter and fiscal year 2025 will be rescheduled, with the timing to be announced upon confirmation of the filing date for its Form 10-K.