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Side-by-side financial comparison of PETMED EXPRESS INC (PETS) and SPRUCE POWER HOLDING CORP (SPRU). Click either name above to swap in a different company.
PETMED EXPRESS INC is the larger business by last-quarter revenue ($40.7M vs $24.0M, roughly 1.7× SPRUCE POWER HOLDING CORP). PETMED EXPRESS INC runs the higher net margin — -26.0% vs -28.6%, a 2.6% gap on every dollar of revenue. On growth, SPRUCE POWER HOLDING CORP posted the faster year-over-year revenue change (20.4% vs -23.3%). SPRUCE POWER HOLDING CORP produced more free cash flow last quarter ($-3.3M vs $-9.2M). Over the past eight quarters, SPRUCE POWER HOLDING CORP's revenue compounded faster (14.6% 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.
Spruce Finance is an American consumer finance company specializing in the residential solar finance and efficiency home improvement sectors in the U.S.
PETS vs SPRU — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.7M | $24.0M |
| Net Profit | $-10.6M | $-6.9M |
| Gross Margin | 23.3% | — |
| Operating Margin | -25.7% | 9.4% |
| Net Margin | -26.0% | -28.6% |
| Revenue YoY | -23.3% | 20.4% |
| Net Profit YoY | -1392.6% | -15.8% |
| EPS (diluted) | $-0.50 | $-0.38 |
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 | $24.0M | ||
| Q3 25 | $44.4M | $30.7M | ||
| Q2 25 | $51.2M | $33.2M | ||
| Q1 25 | $50.8M | $23.8M | ||
| Q4 24 | $52.0M | $20.0M | ||
| Q3 24 | $58.0M | $21.4M | ||
| Q2 24 | $66.2M | $22.5M | ||
| Q1 24 | $65.1M | $18.3M |
| Q4 25 | $-10.6M | $-6.9M | ||
| Q3 25 | $-8.5M | $-860.0K | ||
| Q2 25 | $-34.2M | $-3.0M | ||
| Q1 25 | $-11.6M | $-15.3M | ||
| Q4 24 | $-707.0K | $-5.9M | ||
| Q3 24 | $2.3M | $-53.5M | ||
| Q2 24 | $3.8M | $-8.6M | ||
| Q1 24 | $-5.0M | $-2.5M |
| Q4 25 | 23.3% | — | ||
| Q3 25 | 28.0% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 29.9% | — | ||
| Q4 24 | 31.0% | — | ||
| Q3 24 | 32.3% | 54.8% | ||
| Q2 24 | 28.8% | 54.9% | ||
| Q1 24 | 29.3% | 51.5% |
| Q4 25 | -25.7% | 9.4% | ||
| Q3 25 | -18.9% | 27.6% | ||
| Q2 25 | -66.7% | 26.8% | ||
| Q1 25 | -11.9% | -7.1% | ||
| Q4 24 | -0.9% | -31.4% | ||
| Q3 24 | 1.0% | -173.8% | ||
| Q2 24 | 6.6% | -14.9% | ||
| Q1 24 | -5.9% | -19.7% |
| Q4 25 | -26.0% | -28.6% | ||
| Q3 25 | -19.2% | -2.8% | ||
| Q2 25 | -66.7% | -8.9% | ||
| Q1 25 | -22.9% | -64.4% | ||
| Q4 24 | -1.4% | -29.7% | ||
| Q3 24 | 4.0% | -250.4% | ||
| Q2 24 | 5.7% | -38.2% | ||
| Q1 24 | -7.7% | -13.4% |
| Q4 25 | $-0.50 | $-0.38 | ||
| Q3 25 | $-0.41 | $-0.05 | ||
| Q2 25 | $-1.65 | $-0.17 | ||
| Q1 25 | $-0.56 | $-0.84 | ||
| Q4 24 | $-0.03 | $-0.36 | ||
| Q3 24 | $0.11 | $-2.88 | ||
| Q2 24 | $0.18 | $-0.45 | ||
| Q1 24 | $-0.24 | $-0.13 |
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 | $54.8M |
| Total DebtLower is stronger | — | $695.5M |
| Stockholders' EquityBook value | $32.8M | $121.3M |
| Total Assets | $88.0M | $837.3M |
| Debt / EquityLower = less leverage | — | 5.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.9M | $54.8M | ||
| Q3 25 | $36.1M | $53.6M | ||
| Q2 25 | $41.1M | $53.5M | ||
| Q1 25 | $54.7M | $61.9M | ||
| Q4 24 | $50.1M | $72.8M | ||
| Q3 24 | $52.0M | $113.7M | ||
| Q2 24 | $46.0M | $116.6M | ||
| Q1 24 | $55.3M | $120.6M |
| Q4 25 | — | $695.5M | ||
| Q3 25 | — | $705.6M | ||
| Q2 25 | — | $717.1M | ||
| Q1 25 | — | $723.8M | ||
| Q4 24 | — | $730.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $32.8M | $121.3M | ||
| Q3 25 | $43.1M | $124.9M | ||
| Q2 25 | $51.5M | $125.0M | ||
| Q1 25 | $85.1M | $130.8M | ||
| Q4 24 | $96.2M | $143.7M | ||
| Q3 24 | $96.4M | $151.6M | ||
| Q2 24 | $93.5M | $204.6M | ||
| Q1 24 | $96.7M | $213.0M |
| Q4 25 | $88.0M | $837.3M | ||
| Q3 25 | $100.3M | $857.1M | ||
| Q2 25 | $109.8M | $862.6M | ||
| Q1 25 | $148.7M | $878.0M | ||
| Q4 24 | $144.8M | $898.5M | ||
| Q3 24 | $146.0M | $806.8M | ||
| Q2 24 | $152.7M | $858.4M | ||
| Q1 24 | $169.9M | $867.9M |
| Q4 25 | — | 5.74× | ||
| Q3 25 | — | 5.65× | ||
| Q2 25 | — | 5.74× | ||
| Q1 25 | — | 5.53× | ||
| Q4 24 | — | 5.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-3.3M |
| Free Cash FlowOCF − Capex | $-9.2M | $-3.3M |
| FCF MarginFCF / Revenue | -22.7% | -13.7% |
| Capex IntensityCapex / Revenue | 0.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.0M | $-3.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.2M | $-3.3M | ||
| Q3 25 | $-2.2M | $11.2M | ||
| Q2 25 | $-12.3M | $-2.3M | ||
| Q1 25 | $7.0M | $-9.1M | ||
| Q4 24 | $-1.2M | $-13.5M | ||
| Q3 24 | $7.4M | $-1.1M | ||
| Q2 24 | $-8.5M | $-5.1M | ||
| Q1 24 | $7.1M | $-22.2M |
| Q4 25 | $-9.2M | $-3.3M | ||
| Q3 25 | $-4.8M | $11.2M | ||
| Q2 25 | $-13.6M | $-2.4M | ||
| Q1 25 | $4.6M | $-9.2M | ||
| Q4 24 | $-1.9M | $-13.6M | ||
| Q3 24 | $6.1M | $-1.1M | ||
| Q2 24 | $-9.2M | $-5.2M | ||
| Q1 24 | $5.9M | $-22.3M |
| Q4 25 | -22.7% | -13.7% | ||
| Q3 25 | -10.8% | 36.5% | ||
| Q2 25 | -26.5% | -7.3% | ||
| Q1 25 | 9.1% | -38.7% | ||
| Q4 24 | -3.7% | -68.3% | ||
| Q3 24 | 10.6% | -5.1% | ||
| Q2 24 | -13.9% | -23.1% | ||
| Q1 24 | 9.0% | -121.7% |
| Q4 25 | 0.1% | 0.0% | ||
| Q3 25 | 5.9% | 0.1% | ||
| Q2 25 | 2.5% | 0.3% | ||
| Q1 25 | 4.7% | 0.4% | ||
| Q4 24 | 1.5% | 0.9% | ||
| Q3 24 | 2.2% | 0.1% | ||
| Q2 24 | 1.0% | 0.4% | ||
| Q1 24 | 1.9% | 0.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.18× | — | ||
| 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% |
SPRU
Segment breakdown not available.
