PetVivo Holdings Inc (PETVW) Q1 2026 Earnings Report

PetVivo Holdings reported QQ1 2026 results with modest revenue of $297,500 and a gross profit of $186,726, yielding a gross margin of 62.8%. Despite the top-line uptick on a year-over-year basis, net income remained negative at $(2.31) million, reflecting a deliberate ramp in R&D and selling/general/admin spend as the company advances Kush commercialization and its early-stage device pipeline. Operating loss widened on a GAAP basis to $(1.84) million, with EBITDA of $(2.06) million and an EPS of $(0.09).

The company generated negative operating cash flow of $(1.63) million for the quarter, while net financing activity contributed $4.71 million, producing a net cash increase of $3.08 million and an ending cash balance of $3.30 million. Balance sheet metrics show total assets of approximately $6.89 million and total stockholders’ equity of about $3.73 million; the firm carries a small amount of short-term debt and a modest long-term debt load, with substantial accumulated deficits reflected in retained earnings of $(93.54) million.

Looking ahead, the QQ1 2026 results underscore the ongoing investment phase required to scale Kush commercialization and expand the 17-device pipeline. The near-term catalysts include regulatory and field-adoption progress, potential licensing or collaboration milestones, and the ability to convert pipeline activity into tangible revenue. The main risks center on operating losses, reliance on external financing to fund ongoing R&D and SG&A, and the pace of veterinary market adoption. Investors should monitor cash burn versus financing capacity, progress in Kush uptake, and milestones across the pipeline that could unlock additional revenue streams.