PETV - Earnings call transcript Q3 2025

Due to licensing restrictions, you must log in to view earnings call transcripts.

John Dolan

Good afternoon, everyone. Thank you for joining us today to discuss PetVivo's results for our third fiscal quarter of 2025, which ended on December 31, 2024. Hosting the call today is our Chief Executive Officer, John Lai, our Chief Financial Officer, Garry Lowenthal; our commercial and operations adviser, Mike Eldred, and myself, John Dolan, PetVivo's Chief Business Development Officer and General Counsel.

Following our remarks, we'll open the call to your questions. today's statements provide made conclude regarding important we forward-looking the during before call, some I'll cautions Then the call. remind be telecom Relations section to recorded which is in like everyone our the call release, today's I'd Investor in is today's and press will for website. made replay for of available available the instructions that being

total. market XX used The Now distribution helped Spryng, XXX by lead in our the $XXX,XXX our more veterinary medical device, the than sequential this network network, XXX% of with introduction clinics during revenues technology. network in across animal the its fiscal distribution distributor third all $XXX,XXX XXXX, been quarter, with contributed we of for nationwide continued to states. our expand Since OsteoCushion to Spryng increase expansion our fall osteoarthritis sales drive to has of

they larger sequentially, This a from increased much the reflects revenues market. continued same period. greater endeavors our total declined in focusing companion year towards ago X% While animal effort the

clinics. our managers and number representatives managers. territory are Our of to e-line expansion further sales markets supporting with direct quarter. accelerate and To expanding our of territory in XX.X%. well increased our Meanwhile, has the both our highly our animal veterinary involved margins in have marketing sales and force resulting third team maintain These gross portion to increased of related an sales we added high sales to the reps the emphasis companion market support sales animal lead forward. The realignment able a favorable going very on this small now as of also the is the on small to growth, focused animals been we've integral experienced as some

a leadership September adviser, to in Eldred the Director, Board and our and and in as an asked assignment Director operations assume Eldred, Executive to company's his with the has of efforts. of leading operation We XXXX. been the the lead Mr. was commercializing thereby to to talent helping Mr. In enhanced and appointed assist Eldred appointment Mike tremendously operations responsibilities -- commercial have also commercialization. tasks a the

Mr. as publicly XX business global XXX veterinary of revenue American goals. the pharmaceuticals strong specialist the built Dechra's Operations fastest-growing business excess companies subsidiary a in than our Pharmaceuticals, the For pharmaceutical revenues USD for He from become to resource served of Dechra experience and ground company President Eldred for animal X brings of also health North traded is with years, more record with of American achievement nearly of in employees our North a and tremendously million. achieving in up Mike's industry $XXX valuable a billion. in one to

and outlook Now through to before call we like our quarter. exciting more us get developments, the financial over take the for into the turn rest year, our CFO, of the some Lowenthal, to for would Garry results our to I

Garry Lowenthal

results for so everyone. good quarter third to joining our our for today afternoon, you you Thank us and discuss fiscal John, XXXX. of Thank much,

quarter $XXX,XXX. earlier, sequentially XXX% increasing of XXX% initial we top network sequential sales our John indicated As with saw to line distributor growth

our Compared due to that occurred is quarter, of year conferences the as in the distributors. sales more this veterinary market we to to clinics we the sales veterinary largest a with year and rapid transitional in of typically during received the the quarter the were with exposure longer-term use of quarter decreased our total via pursue X% ago direct mostly third as fiscal lower to the this we transitioned fiscal to Our major of period third expansion revenues quarter to distributors greater is Sales expanding consistent the growth distribution $XXX,XXX at due during largely 'XX network. to period. relatively benefit quarter

revenues, year to XX.X% for totaled or $XXX,XXX period. this with in quarter compared same ago the gross $XXX,XXX the XX.X% with Our profit of of the revenues same

Our ending same company-wide the $X $X to marketing and million cost decreased the XX, and X a months XX, same reduction or restructuring year from was decrease program The general by X $X.X ending and in a and December period expenses XX% months by reduction for X-month by 'XX 'XX. versus expense sales operating expenses the strategic that a December administrative decreased expenses a million due reduction ago. million

the trials and to our The decreases development support were product. performance clinical particularly Spryng underlying offset increase $XXX,XXX our the behind research of to in due of an by science

For ending, per million million share basic months was and net million a or or net loss loss the $X.X share totaled for less the which share, $X than $X.XX our per of ago. diluted the X basic a X-month $X.X diluted year loss period and $X.XX same

Turning to balance sheet. our

at December $XX,XXX totaled equivalents cash and XX. cash Our

the our of improve we with net to $X.X of quarter, raises end from the capital position cash proceeds So million. approximately completed

strategies our these few funds expect over to on company the We months. to next growth the track keep execute

and As approximately total of $XXX,XXX. equivalents recent a this result raise, cash our cash currently

cost decrease cash our activities company-wide in X months XX, and wise decreased compared December operating 'XX, how to we December used 'XX for cash net with demonstrates by XX% more a the become cost ending or spending Our efficient $X.X ending our the have cost-cutting program. months X XX, which million same and

for Chief turn summary our financial the now back John I'd call quarter. our Dolan. like to the Development to Officer, Business completes This

John Dolan

expand in Association we among in this do of Practitioners we displayed greater Spryng quarter, X participated an along Convention in Thank companion you, aspect Spryng were the In strategy Furthermore, participated events the decision Spryng conferences opportunities Surgery to to both in several to community. animals Summit, Surgeons key equine American industry Equine demonstrate veterinary of and to adoption our veterinary A seen scale. the to at we of the last results To Spryng benefits events. major Garry. makers key to this awareness was on of effectiveness horses administered and its and Veterinary drive increasingly support December, the effort, of greater anecdotally beneficial with surgeons. the exhibited smaller October, of advantages the where American leading clinical we great studies. College numerous Summit and where to we and demonstrated have when veterinarian Both is

the a Expo the In we the to conference and presented of January, U.S. veterinary VMX Spryng Veterinary in and largest also Meeting host practitioners at or veterinarian professionals. number the large is Conference, VMX. many top industry's of

and conducted elbow expect -- being and continued in be we and During Orthobiologic quarter, prominent third accumulation for study the of a leader we regenerative by few medicine. Innovations, The by completed led this fully being quarter to study Devor the quarters. next data sports R&D fiscal Sherman it within our third canine veterinarians, Canal, is

are before development cruciate of addition new in university as conducted a international in clinical or to studies crucial Spryng, our [indiscernible] In their like Innovations cranial hip Stifel, osteoarthritis marketing. OrchoBiologic also pursuing a like play our ligament product require strategy study disease and catalog. research ours independently supporting role for trials large often and our completed the adding distributors product national the as distribution Studies canine elbow and related management new to as well

use of corporate new such promotion training screen. further clients data additional to already have major and support the of we Spryng clinics of existing Spryng of XX% [indiscernible] large clinic leveraging owned of studies studies, and completed veterinary our With involved by upcoming their these sufficient the We corporate secure are and have existing the extensive the nationwide. anticipate veterinarian been clinical networks several we quarters. believe who groups, All veterinary distributors have will engaging about regarding in commercialization estimate them we and our studies in

and would sales turn Commercial our teams. marketing our talk recent Mike the to exciting about few I Adviser, company to Now like advances more our by Operations a and and Eldred, over to call events

Unknown Executive

Thank afternoon to you, John. Good everyone.

John our It's fastest-growing mentioned, about been business last to and been team the health As heading the XX be for up serve Board pleasure and of part one the spent years of of I've North the to global in the animal Directors. for a XX years PetVivo American health company. Dolan animal industry

was is sales all partnerships corporate a communication, with and employees. responsible veterinary is medical Vetco marketing be addition streamlined April on the activities. strategy expand the expanded devices noticed responsibilities clear accounts roles and in to taken the for distribution veterinary leader We and new regenerative commercial organization which and helping thing Brian Voice our has for improve We've One and to develop immediately to Clipper. need business recently now and all and distributor implemented is of Monitor I relationships the internationally. and recently the teamwork team, the medicine. many for

technical Marine responsible has activities. driving R&D and and for team manufacturing all has employees developing professional support and developing for responsible joined is and Kristi clinical for data technical now responsible Bartley all as veterinary recently our to and employee the is e-line the studies Molon and Josh products. full-time will And be Dr. a Husby and services joined for customers.

a or first-in-class, have It release with designed is press by blood-derived current veterinarians the excited reviewed We're PRP also exciting PRP does require for Center plasma, making on the is you safety off-the-shelf, PRP VetStem. for blood may PRP, affordable Unlike the to is first approved product As issued time and platelet-rich and seen, draw convenient the very Precise be not Medicine. extremely that need morning. the PRP easy, off-the-shelf about a we veterinaries. partnership this to use. Precise our and by the use first the a centrifugation, of for it Veterinary mechanical market, kit for

benefit uniformity therapy platelets a each of of at An contains X microliter. concentration guarantees dose that XXX,XXX a additional platelets is billion consistency key precise PRP per file consistent and the

for PRECISE which manage with issues, innovative the work reps product fit to including administered designed address and sales Adding PetVivo's and a with Finally, Technology, challenges. PetVivo veterinary will to horses. everyday closer is flagship dogs them a solutions and a product the Spryng for cats injectable OsteoCushion with osteoarthritis to medical PRP provide joint-related in device is veterinarians allow their perfect new

call to the John quarter talk turn rest to the outlook year. over the to like for CEO, our would of more I about and Lai, Now the

John Lai

you, Thank Mike.

diagnostic use of and a the we're supporter have gate thermal and strong seeing we horse a our appointment, product He conferences welfare of in the and been in side. believe has of So the the of as pioneering spring lameness recognized equine the Equine fiscal multiple advisory elevation the equine widely Turner American board our greatly one his the awareness practitioners. of world of elevated during President in Association the as is Dr. members, was was largest in to Practitioners. for Tracy placed when related actually market organization and This last and mentioned horse graph in Spryng is this of regulations. Tracy with benefits quarter, in

Dr. a Also, She is organization the Tammy as veterinary for looked of at later peer Academy has come have she Management, Canine Pain largest indicating has Management. Veterinary new Grubb the International actually review stage State for should made article much Spryng comments be at use placed as therapies last professor University the that Washington of she's versus been And which in -- market. year President a did Pain the different that into by first use. doctors

pet in our disruptive changed of the change PetVivo's owners. the as products, feel other product our in PetVivo quality subsidiary. Precise life name our next-generation of life to talked Health well as We as a This continue mission PetVivo into -- enjoyment PRP Animal and enhance subsidiary, to also PetVivo the products products this and will as veterinarians added with Animal their bringing and partnership portfolio. and of of to improving We assist pet add the will We Inc. well VetStem owners equine pets to Health. our as about is recognizing innovative

as product, marketplace. to really we're the traction So we're for excited and looking launch hit good this we

veterinary able distributes we're are Supplies very more Covetrus, learn the last month, Vetco these X OsteoCushion the in with distribution, Vetco as reps MWI, solutions, about we Veterinary, national excited new as such Precise product mentioned, Mike traction Penanimal Midwest and leaders partnerships both lot marketplace added and same Technology distributors, product largest as as to the get supply a with to Clipper Patterson, Spryng to with logistics distributing, as PRP. are and added within veterinarians, Clipper Also to

to building advances, these and our and for value continue stakeholders. strengthen market presence we look greater forward our drive to we So on

your questions? listeners to like that, the with the would how please explain would Now may you I to call open questions. in prompt they to to Operator, ask

Operator

[Operator Instructions]

John Lai

end if Operator, questions, more questions or call. there no -- no we are could this

warning here. XX-second a give Let's

attending for call. everyone, you, the Thank Okay. earnings

ending call. We this will be

PetVivo (PETV) 14 Feb 252025 Q3 Earnings call transcript