Executive Summary
PetVivo Holdings Inc (PETVW) delivered a challenging QQ4 2024 quarter characterized by a sharp revenue decline and ongoing operating losses, underscoring the company’s phase as a research-and-development focused veterinary biotech and medical devices business. Revenue was $48,266 in the quarter, down 58.8% year-over-year and 91.9% quarter-over-quarter, while gross profit reached $225,356 for a modest gross margin of 4.67%. Despite the weak top line, the gross margin expansion juxtaposed against a large increase in R&D and SG&A spend produced a substantial negative bottom line. The company reported an operating loss of $2.65 million and a net loss of $2.65 million, translating to an EPS of -$0.19 for the quarter. EBITDA was negative at approximately -$3.15 million, with EBITDAR at -$3.16 million. These dynamics reflect a business in heavy investment mode, subsidized by external financing rather than operating cash flow.
From a cash-flow perspective, operating cash flow was negative at about -$1.52 million, while net change in cash was a modest +$7,318 as financing activity provided approximately $1.56 million. Cash at period end stood at $87,403, signaling a tight liquidity position that depends on continued external funding to sustain product development, regulatory progress, and pipeline monetization. The balance sheet presents total assets of roughly $3.12 million against total liabilities of about $2.43 million, with equity of about $0.69 million, and a net debt position around $1.28 million. Notably, the data set contains some balance-sheet inconsistencies (e.g., retained earnings versus total equity), which should be reconciled in the company’s next filings; nonetheless, the trend indicates meaningful accumulated losses and a stressed liquidity profile.
Key takeaway for investors: PetVivo remains a high-risk, high-uncertainty investment tied to the progression and monetization of its Kush product and its broader 17-device pipeline. The near-term investment case hinges on successful capital raises, strategic partnerships, upfront licensing deals, and tangible progress in product commercialization. Absent meaningful revenue acceleration or licensing milestones, the company faces meaningful liquidity and profitability challenges in the near term.
Key Performance Indicators
QoQ: -91.90% | YoY:-58.81%
QoQ: -45.41% | YoY:545.46%
QoQ: -58.33% | YoY:24.00%
Key Insights
Revenue: 48,266 (YoY -58.81%, QoQ -91.90%).
Gross Profit: 225,356 (+545.46% YoY, -45.41% QoQ).
Gross Margin: 4.67% in Q4 2024.
Operating Income: -2,649,796 (-54.90% margin).
EBITDA: -3,145,832.
Net Income: -2,650,717 (-54.92% margin).
EPS: -0.19 (diluted -0.19).
R&D: 572,858; SG&A (G&A + Selling): 1,955,812 + 346,482 = 2,302,294; Total Operating Expenses: 2,875,152.
Debt and liquidity: Total debt 1,365,040; Net debt 1,277,637; Cash at end of period 87,403.
Current ratio: 0.738; Quic...
Financial Highlights
Revenue: 48,266 (YoY -58.81%, QoQ -91.90%).
Gross Profit: 225,356 (+545.46% YoY, -45.41% QoQ).
Gross Margin: 4.67% in Q4 2024.
Operating Income: -2,649,796 (-54.90% margin).
EBITDA: -3,145,832.
Net Income: -2,650,717 (-54.92% margin).
EPS: -0.19 (diluted -0.19).
R&D: 572,858; SG&A (G&A + Selling): 1,955,812 + 346,482 = 2,302,294; Total Operating Expenses: 2,875,152.
Debt and liquidity: Total debt 1,365,040; Net debt 1,277,637; Cash at end of period 87,403.
Current ratio: 0.738; Quick ratio: 0.461; Cash ratio: 0.0619.
Weighted average shares: 13,969,754 (fully diluted 13,969,754).
Revenue mix and volatility: Revenue base extremely small versus expenditure, suggesting high sensitivity to one-off deals or licensing receipts.
Valuation signals: Price-to-book ~2.04; Price-to-sales ~28.94; Earnings negative; Cash burn high; Stock-based compensation appears to contribute to non-cash expenses in cash flow.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
48.27K |
-58.81% |
-91.90% |
| Gross Profit |
225.36K |
545.46% |
-45.41% |
| Operating Income |
-2.65M |
8.42% |
-24.19% |
| Net Income |
-2.65M |
8.39% |
-51.48% |
| EPS |
-0.19 |
24.00% |
-58.33% |
Key Financial Ratios
operatingProfitMargin
-5490%
operatingCashFlowPerShare
$-0.11
freeCashFlowPerShare
$-0.11
Management Commentary
Earnings transcripts are not provided in the data set. No management quotes or themes from an earnings call are available for this QQ4 2024 period. Consequently, dedicated guidance, strategic commentary, or qualitative operational updates from management could not be incorporated from an earnings call transcript in this report.
Forward Guidance
No explicit forward guidance was disclosed in the supplied data. In the absence of management-provided targets, the forward outlook relies on qualitative factors and industry dynamics. Anticipated catalysts would include: (1) progress in Kush adoption and licensing agreements, (2) expansion or validation of the 17-device pipeline in veterinary and potential human applications, (3) partnerships or collaboration agreements that provide upfront payments or milestone-based consider-ations, and (4) improved operating leverage if revenue ramps occur. The achievability of any guidance hinges on: timely regulatory/regulatory-adjacent approvals, successful commercialization partnerships, satisfactory clinical or performance data for pipeline devices, and the company’s ability to secure ongoing financing to fund R&D and SG&A until revenue traction materializes.