PetVivo Holdings Inc (PETV) Q2 2025 Earnings Report

PetVivo delivered a meaningful step-up in top-line activity in QQ2 2025, marked by a 62% sequential increase in revenue driven primarily by a sharp expansion in distributor sales. Reported revenue of approximately $0.201 million in the quarter contrasted with a 89.5% gross margin, underscoring the Company’s ability to preserve margin amid early-stage volumes. Management attributed the revenue lift to a broadened distributor network and ongoing investments in field sales and marketing to accelerate Spryng adoption nationwide. Despite the revenue uptick, PetVivo remains loss-making with a net loss of about $2.18 million for the quarter and operating cash burn, albeit with notable expense discipline and a reduction in operating costs versus the prior-year period.

Management signaling and commentary point to a more favorable growth trajectory through deeper market penetration (800 clinics across all 50 states earlier in the year with a target of 1,500 clinics by year-end) and intensified clinical validation (ongoing trials with Orthobiologic Innovations, elbow study expected in 2025). The company also reiterated the importance of large corporate veterinary groups, which constitute roughly 75% of clinics and could unlock scale with national distributors and major chains. Management projects FY2025 revenue growth of roughly $1.5 million, representing >50% year-over-year growth, supported by a larger installed base and broader distributor coverage. The liquidity profile remains a near-term risk: cash and cash equivalents stood at about $0.126 million at 9/30/2024, with a subsequent capital raise of $0.3125 million and ongoing fundraising activity. The favorable margin structure, combined with a selective execution plan, frames PetVivo as a high-pocus, high-uncertainty investment in the near term, with meaningful optionality if the corporate adoption thesis materializes.