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Side-by-side financial comparison of PETMED EXPRESS INC (PETS) and TELOS CORP (TLS). Click either name above to swap in a different company.
TELOS CORP is the larger business by last-quarter revenue ($46.8M vs $40.7M, roughly 1.2× PETMED EXPRESS INC). PETMED EXPRESS INC runs the higher net margin — -26.0% vs -34.9%, a 8.9% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs -23.3%). TELOS CORP produced more free cash flow last quarter ($8.0M vs $-9.2M). Over the past eight quarters, TELOS CORP's revenue compounded faster (25.7% 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.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
PETS vs TLS — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.7M | $46.8M |
| Net Profit | $-10.6M | $-16.3M |
| Gross Margin | 23.3% | 35.0% |
| Operating Margin | -25.7% | -39.6% |
| Net Margin | -26.0% | -34.9% |
| Revenue YoY | -23.3% | 77.4% |
| Net Profit YoY | -1392.6% | -74.8% |
| EPS (diluted) | $-0.50 | $-0.22 |
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 | $46.8M | ||
| Q3 25 | $44.4M | $51.4M | ||
| Q2 25 | $51.2M | $36.0M | ||
| Q1 25 | $50.8M | $30.6M | ||
| Q4 24 | $52.0M | $26.4M | ||
| Q3 24 | $58.0M | $23.8M | ||
| Q2 24 | $66.2M | $28.5M | ||
| Q1 24 | $65.1M | $29.6M |
| Q4 25 | $-10.6M | $-16.3M | ||
| Q3 25 | $-8.5M | $-2.1M | ||
| Q2 25 | $-34.2M | $-9.5M | ||
| Q1 25 | $-11.6M | $-8.6M | ||
| Q4 24 | $-707.0K | $-9.3M | ||
| Q3 24 | $2.3M | $-28.1M | ||
| Q2 24 | $3.8M | $-7.8M | ||
| Q1 24 | $-5.0M | $-7.4M |
| Q4 25 | 23.3% | 35.0% | ||
| Q3 25 | 28.0% | 39.9% | ||
| Q2 25 | 28.1% | 33.2% | ||
| Q1 25 | 29.9% | 39.8% | ||
| Q4 24 | 31.0% | 40.3% | ||
| Q3 24 | 32.3% | 13.2% | ||
| Q2 24 | 28.8% | 34.1% | ||
| Q1 24 | 29.3% | 37.0% |
| Q4 25 | -25.7% | -39.6% | ||
| Q3 25 | -18.9% | -4.8% | ||
| Q2 25 | -66.7% | -27.5% | ||
| Q1 25 | -11.9% | -29.5% | ||
| Q4 24 | -0.9% | -37.6% | ||
| Q3 24 | 1.0% | -121.4% | ||
| Q2 24 | 6.6% | -30.3% | ||
| Q1 24 | -5.9% | -28.5% |
| Q4 25 | -26.0% | -34.9% | ||
| Q3 25 | -19.2% | -4.1% | ||
| Q2 25 | -66.7% | -26.5% | ||
| Q1 25 | -22.9% | -28.1% | ||
| Q4 24 | -1.4% | -35.4% | ||
| Q3 24 | 4.0% | -118.0% | ||
| Q2 24 | 5.7% | -27.2% | ||
| Q1 24 | -7.7% | -24.9% |
| Q4 25 | $-0.50 | $-0.22 | ||
| Q3 25 | $-0.41 | $-0.03 | ||
| Q2 25 | $-1.65 | $-0.13 | ||
| Q1 25 | $-0.56 | $-0.12 | ||
| Q4 24 | $-0.03 | $-0.13 | ||
| Q3 24 | $0.11 | $-0.39 | ||
| Q2 24 | $0.18 | $-0.11 | ||
| Q1 24 | $-0.24 | $-0.10 |
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 | $53.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $32.8M | $96.0M |
| Total Assets | $88.0M | $139.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.9M | $53.2M | ||
| Q3 25 | $36.1M | $59.0M | ||
| Q2 25 | $41.1M | $57.0M | ||
| Q1 25 | $54.7M | $57.8M | ||
| Q4 24 | $50.1M | $54.6M | ||
| Q3 24 | $52.0M | $69.8M | ||
| Q2 24 | $46.0M | $80.1M | ||
| Q1 24 | $55.3M | $93.9M |
| Q4 25 | $32.8M | $96.0M | ||
| Q3 25 | $43.1M | $119.7M | ||
| Q2 25 | $51.5M | $118.4M | ||
| Q1 25 | $85.1M | $126.1M | ||
| Q4 24 | $96.2M | $127.1M | ||
| Q3 24 | $96.4M | $129.5M | ||
| Q2 24 | $93.5M | $149.1M | ||
| Q1 24 | $96.7M | $154.4M |
| Q4 25 | $88.0M | $139.9M | ||
| Q3 25 | $100.3M | $164.3M | ||
| Q2 25 | $109.8M | $165.0M | ||
| Q1 25 | $148.7M | $158.1M | ||
| Q4 24 | $144.8M | $158.2M | ||
| Q3 24 | $146.0M | $166.3M | ||
| Q2 24 | $152.7M | $182.4M | ||
| Q1 24 | $169.9M | $195.4M |
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 | $8.0M |
| Free Cash FlowOCF − Capex | $-9.2M | $8.0M |
| FCF MarginFCF / Revenue | -22.7% | 17.0% |
| Capex IntensityCapex / Revenue | 0.1% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.0M | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.2M | $8.0M | ||
| Q3 25 | $-2.2M | $9.1M | ||
| Q2 25 | $-12.3M | $7.0M | ||
| Q1 25 | $7.0M | $6.1M | ||
| Q4 24 | $-1.2M | $-10.5M | ||
| Q3 24 | $7.4M | $-7.1M | ||
| Q2 24 | $-8.5M | $-8.0M | ||
| Q1 24 | $7.1M | $-350.0K |
| Q4 25 | $-9.2M | $8.0M | ||
| Q3 25 | $-4.8M | $8.7M | ||
| Q2 25 | $-13.6M | $6.8M | ||
| Q1 25 | $4.6M | $6.0M | ||
| Q4 24 | $-1.9M | $-12.4M | ||
| Q3 24 | $6.1M | $-7.1M | ||
| Q2 24 | $-9.2M | $-8.2M | ||
| Q1 24 | $5.9M | $-447.0K |
| Q4 25 | -22.7% | 17.0% | ||
| Q3 25 | -10.8% | 16.9% | ||
| Q2 25 | -26.5% | 19.0% | ||
| Q1 25 | 9.1% | 19.5% | ||
| Q4 24 | -3.7% | -47.0% | ||
| Q3 24 | 10.6% | -30.0% | ||
| Q2 24 | -13.9% | -28.9% | ||
| Q1 24 | 9.0% | -1.5% |
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 5.9% | 0.9% | ||
| Q2 25 | 2.5% | 0.4% | ||
| Q1 25 | 4.7% | 0.4% | ||
| Q4 24 | 1.5% | 7.1% | ||
| Q3 24 | 2.2% | 0.2% | ||
| Q2 24 | 1.0% | 0.8% | ||
| Q1 24 | 1.9% | 0.3% |
| 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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
