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Side-by-side financial comparison of PETMED EXPRESS INC (PETS) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Repay Holdings Corp is the larger business by last-quarter revenue ($78.6M vs $40.7M, roughly 1.9× PETMED EXPRESS INC). PETMED EXPRESS INC runs the higher net margin — -26.0% vs -178.3%, a 152.3% gap on every dollar of revenue. On growth, Repay Holdings Corp posted the faster year-over-year revenue change (0.4% vs -23.3%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $-9.2M). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% CAGR vs -20.9%).
PetMed Express, Inc., also known as PetMeds, is an online pet pharmacy based in the United States. It is publicly traded and sells prescription and non-prescription pet medication.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
PETS vs RPAY — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.7M | $78.6M |
| Net Profit | $-10.6M | $-140.1M |
| Gross Margin | 23.3% | 74.2% |
| Operating Margin | -25.7% | -182.2% |
| Net Margin | -26.0% | -178.3% |
| Revenue YoY | -23.3% | 0.4% |
| Net Profit YoY | -1392.6% | -3304.1% |
| EPS (diluted) | $-0.50 | $-1.68 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $40.7M | $78.6M | ||
| Q3 25 | $44.4M | $77.7M | ||
| Q2 25 | $51.2M | $75.6M | ||
| Q1 25 | $50.8M | $77.3M | ||
| Q4 24 | $52.0M | $78.3M | ||
| Q3 24 | $58.0M | $79.1M | ||
| Q2 24 | $66.2M | $74.9M | ||
| Q1 24 | $65.1M | $80.7M |
| Q4 25 | $-10.6M | $-140.1M | ||
| Q3 25 | $-8.5M | $-6.4M | ||
| Q2 25 | $-34.2M | $-102.3M | ||
| Q1 25 | $-11.6M | $-7.9M | ||
| Q4 24 | $-707.0K | $-4.1M | ||
| Q3 24 | $2.3M | $3.2M | ||
| Q2 24 | $3.8M | $-4.1M | ||
| Q1 24 | $-5.0M | $-5.2M |
| Q4 25 | 23.3% | 74.2% | ||
| Q3 25 | 28.0% | 74.4% | ||
| Q2 25 | 28.1% | 75.7% | ||
| Q1 25 | 29.9% | 75.9% | ||
| Q4 24 | 31.0% | 76.3% | ||
| Q3 24 | 32.3% | 77.8% | ||
| Q2 24 | 28.8% | 78.2% | ||
| Q1 24 | 29.3% | 76.2% |
| Q4 25 | -25.7% | -182.2% | ||
| Q3 25 | -18.9% | -3.9% | ||
| Q2 25 | -66.7% | -138.7% | ||
| Q1 25 | -11.9% | -4.7% | ||
| Q4 24 | -0.9% | -1.5% | ||
| Q3 24 | 1.0% | -0.9% | ||
| Q2 24 | 6.6% | -4.6% | ||
| Q1 24 | -5.9% | -3.1% |
| Q4 25 | -26.0% | -178.3% | ||
| Q3 25 | -19.2% | -8.3% | ||
| Q2 25 | -66.7% | -135.2% | ||
| Q1 25 | -22.9% | -10.3% | ||
| Q4 24 | -1.4% | -5.3% | ||
| Q3 24 | 4.0% | 4.1% | ||
| Q2 24 | 5.7% | -5.4% | ||
| Q1 24 | -7.7% | -6.5% |
| Q4 25 | $-0.50 | $-1.68 | ||
| Q3 25 | $-0.41 | $-0.08 | ||
| Q2 25 | $-1.65 | $-1.15 | ||
| Q1 25 | $-0.56 | $-0.09 | ||
| Q4 24 | $-0.03 | $-0.04 | ||
| Q3 24 | $0.11 | $0.03 | ||
| Q2 24 | $0.18 | $-0.04 | ||
| Q1 24 | $-0.24 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $26.9M | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | $32.8M | $484.4M |
| Total Assets | $88.0M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.9M | $115.7M | ||
| Q3 25 | $36.1M | $95.7M | ||
| Q2 25 | $41.1M | $162.6M | ||
| Q1 25 | $54.7M | $165.5M | ||
| Q4 24 | $50.1M | $189.5M | ||
| Q3 24 | $52.0M | $168.7M | ||
| Q2 24 | $46.0M | $147.1M | ||
| Q1 24 | $55.3M | $128.3M |
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $32.8M | $484.4M | ||
| Q3 25 | $43.1M | $616.9M | ||
| Q2 25 | $51.5M | $633.7M | ||
| Q1 25 | $85.1M | $755.7M | ||
| Q4 24 | $96.2M | $761.3M | ||
| Q3 24 | $96.4M | $754.7M | ||
| Q2 24 | $93.5M | $815.4M | ||
| Q1 24 | $96.7M | $813.8M |
| Q4 25 | $88.0M | $1.2B | ||
| Q3 25 | $100.3M | $1.3B | ||
| Q2 25 | $109.8M | $1.4B | ||
| Q1 25 | $148.7M | $1.5B | ||
| Q4 24 | $144.8M | $1.6B | ||
| Q3 24 | $146.0M | $1.6B | ||
| Q2 24 | $152.7M | $1.5B | ||
| Q1 24 | $169.9M | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-9.2M | $23.3M |
| Free Cash FlowOCF − Capex | $-9.2M | $23.2M |
| FCF MarginFCF / Revenue | -22.7% | 29.6% |
| Capex IntensityCapex / Revenue | 0.1% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.0M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.2M | $23.3M | ||
| Q3 25 | $-2.2M | $32.2M | ||
| Q2 25 | $-12.3M | $33.1M | ||
| Q1 25 | $7.0M | $2.5M | ||
| Q4 24 | $-1.2M | $34.3M | ||
| Q3 24 | $7.4M | $60.1M | ||
| Q2 24 | $-8.5M | $31.0M | ||
| Q1 24 | $7.1M | $24.8M |
| Q4 25 | $-9.2M | $23.2M | ||
| Q3 25 | $-4.8M | $32.1M | ||
| Q2 25 | $-13.6M | $33.0M | ||
| Q1 25 | $4.6M | $2.4M | ||
| Q4 24 | $-1.9M | $34.0M | ||
| Q3 24 | $6.1M | $59.8M | ||
| Q2 24 | $-9.2M | $30.5M | ||
| Q1 24 | $5.9M | $24.7M |
| Q4 25 | -22.7% | 29.6% | ||
| Q3 25 | -10.8% | 41.3% | ||
| Q2 25 | -26.5% | 43.6% | ||
| Q1 25 | 9.1% | 3.0% | ||
| Q4 24 | -3.7% | 43.5% | ||
| Q3 24 | 10.6% | 75.6% | ||
| Q2 24 | -13.9% | 40.7% | ||
| Q1 24 | 9.0% | 30.6% |
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 5.9% | 0.2% | ||
| Q2 25 | 2.5% | 0.1% | ||
| Q1 25 | 4.7% | 0.2% | ||
| Q4 24 | 1.5% | 0.3% | ||
| Q3 24 | 2.2% | 0.3% | ||
| Q2 24 | 1.0% | 0.6% | ||
| Q1 24 | 1.9% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.18× | 18.52× | ||
| Q2 24 | -2.27× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 4% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
