PetVivo (PETV) Q1 Earnings call transcript Aug 14, 2025

PetVivo Inc., a leader in the veterinary medical device market, reported robust financial and operational progress in its fiscal first quarter ended June 30, 2024. The company's flagship product, Spryng with OsteoCushion Technology, is making significant strides in addressing the prevalent issue of osteoarthritis in pets and horses, showcasing a promising outlook for the company's growth trajectory.

Financial and Operational Highlights

PetVivo's first quarter revenue growth was driven by a surge in distributor sales, which more than doubled over the past year, totaling $68,000. This growth was aided by the successful adoption of Spryng across 800 veterinary clinics nationwide, serving more than 10,000 dogs, cats, and horses. The company's gross margin remained highly favorable at 89.5%, demonstrating its financial strength and operational efficiency.

Market Expansion and Clinical Success

The company's strategy to accelerate market adoption of Spryng is yielding positive results. PetVivo has recently restructured and realigned its sales and marketing teams, with the appointment of experienced executives from Fortune 500 companies. This strategic move is expected to strengthen the company's efforts in targeting the companion animal market, which represents a larger market opportunity.

PetVivo's clinical studies have been instrumental in validating the benefits of Spryng. These studies have shown that Spryng goes beyond masking symptoms to address the root cause of joint pain and discomfort, offering a more effective solution for managing osteoarthritis. With increased demand from the veterinary community and pet owners, PetVivo is poised to expand its market reach and revenue growth.

Future Outlook and Strategic Initiatives

Looking ahead, PetVivo plans to continue its focus on expanding market adoption of Spryng through targeted sales and marketing efforts. The company's participation in key veterinary conferences and trade shows is expected to drive awareness and educate the veterinary field about the benefits of Spryng. Furthermore, PetVivo's investment in clinical studies will further bolster its product's credibility and attract endorsements from key opinion leaders in the industry.

Market Opportunities and Competition

The veterinary medical device market, particularly in the treatment of osteoarthritis, presents a significant growth opportunity for PetVivo. With a market size expected to reach $11 billion by 2030, the company's strategic initiatives are well-aligned with this trend. PetVivo's unique approach to addressing the root cause of joint pain sets it apart from competitors like Zoetis, Librela, and Solensia. By offering a more comprehensive solution, PetVivo is positioning itself as a leader in the veterinary medical device market.

Conclusion

PetVivo's strong financial performance and strategic initiatives in the first quarter of 2025 underscore the company's commitment to advancing veterinary care and addressing the unmet medical needs of pets and horses. With its innovative product, Spryng, and a robust market outlook, PetVivo is well-positioned to capitalize on the growing demand for effective solutions in managing osteoarthritis. As the company continues to expand its market reach and build upon its clinical success, investors and stakeholders can look forward to a promising future for PetVivo.