PetVivo Holdings Inc (PETVW) Q1 2025 Earnings Report

PetVivo Holdings Inc reported a narrow top-line in QQ1 2025 with revenue of $123.8 thousand and a robust gross margin of 89.5%, reflecting a favorable cost of revenue profile. The quarter was dominated by operating losses driven by aggressive spending in research and development and selling, general, and administrative activities, resulting in an EBITDA of -$2.01 million and net income of -$2.05 million. The company continues to burn cash, with operating cash flow of -$1.53 million and free cash flow of -$1.55 million, despite a modest net inflow from financing activities of $1.47 million and a small sequential cash outflow of $74.99 thousand for the period. The balance sheet shows a fragile liquidity position (0.81x current ratio; cash and equivalents of $12.4k; total debt of $1.17 million) and elevated leverage (debt-to-capitalization around 0.58). Management commentary is not available in the provided data, limiting the ability to gauge near-term guidance or strategic color. The combination of a high gross margin on a negligible revenue base and outsized operating expenditure indicates substantial runway risk absent external financing, licensing deals, or material revenue from Kush uptake and pipeline devices. Investors should weigh the potential upside from product commercialization against the pronounced burn and liquidity constraints.