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Side-by-side financial comparison of PETMED EXPRESS INC (PETS) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $40.7M, roughly 1.5× PETMED EXPRESS INC). TSS, Inc. runs the higher net margin — 20.0% vs -26.0%, a 45.9% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs -23.3%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $-9.2M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% 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.
PETS vs TSSI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.7M | $60.9M |
| Net Profit | $-10.6M | $12.2M |
| Gross Margin | 23.3% | 17.6% |
| Operating Margin | -25.7% | 1.5% |
| Net Margin | -26.0% | 20.0% |
| Revenue YoY | -23.3% | 21.8% |
| Net Profit YoY | -1392.6% | 535.7% |
| EPS (diluted) | $-0.50 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $44.4M | $41.9M | ||
| Q2 25 | $51.2M | $44.0M | ||
| Q1 25 | $50.8M | $99.0M | ||
| Q4 24 | $52.0M | $50.0M | ||
| Q3 24 | $58.0M | $70.1M | ||
| Q2 24 | $66.2M | $12.2M | ||
| Q1 24 | $65.1M | $15.9M |
| Q4 25 | $-10.6M | $12.2M | ||
| Q3 25 | $-8.5M | $-1.5M | ||
| Q2 25 | $-34.2M | $1.5M | ||
| Q1 25 | $-11.6M | $3.0M | ||
| Q4 24 | $-707.0K | $1.9M | ||
| Q3 24 | $2.3M | $2.6M | ||
| Q2 24 | $3.8M | $1.4M | ||
| Q1 24 | $-5.0M | $15.0K |
| Q4 25 | 23.3% | 17.6% | ||
| Q3 25 | 28.0% | 11.1% | ||
| Q2 25 | 28.1% | 17.8% | ||
| Q1 25 | 29.9% | 9.3% | ||
| Q4 24 | 31.0% | 14.4% | ||
| Q3 24 | 32.3% | 11.3% | ||
| Q2 24 | 28.8% | 37.3% | ||
| Q1 24 | 29.3% | 17.1% |
| Q4 25 | -25.7% | 1.5% | ||
| Q3 25 | -18.9% | -2.2% | ||
| Q2 25 | -66.7% | 5.1% | ||
| Q1 25 | -11.9% | 4.2% | ||
| Q4 24 | -0.9% | 0.0% | ||
| Q3 24 | 1.0% | 5.4% | ||
| Q2 24 | 6.6% | 14.0% | ||
| Q1 24 | -5.9% | 1.6% |
| Q4 25 | -26.0% | 20.0% | ||
| Q3 25 | -19.2% | -3.6% | ||
| Q2 25 | -66.7% | 3.4% | ||
| Q1 25 | -22.9% | 3.0% | ||
| Q4 24 | -1.4% | 3.8% | ||
| Q3 24 | 4.0% | 3.8% | ||
| Q2 24 | 5.7% | 11.5% | ||
| Q1 24 | -7.7% | 0.1% |
| Q4 25 | $-0.50 | $0.44 | ||
| Q3 25 | $-0.41 | $-0.06 | ||
| Q2 25 | $-1.65 | $0.06 | ||
| Q1 25 | $-0.56 | $0.12 | ||
| Q4 24 | $-0.03 | $0.08 | ||
| Q3 24 | $0.11 | $0.10 | ||
| Q2 24 | $0.18 | $0.06 | ||
| Q1 24 | $-0.24 | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $32.8M | $76.6M |
| Total Assets | $88.0M | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.9M | $85.5M | ||
| Q3 25 | $36.1M | $70.7M | ||
| Q2 25 | $41.1M | — | ||
| Q1 25 | $54.7M | — | ||
| Q4 24 | $50.1M | $23.2M | ||
| Q3 24 | $52.0M | $46.4M | ||
| Q2 24 | $46.0M | $8.3M | ||
| Q1 24 | $55.3M | $14.4M |
| Q4 25 | $32.8M | $76.6M | ||
| Q3 25 | $43.1M | $63.4M | ||
| Q2 25 | $51.5M | $9.5M | ||
| Q1 25 | $85.1M | $9.4M | ||
| Q4 24 | $96.2M | $7.1M | ||
| Q3 24 | $96.4M | $7.7M | ||
| Q2 24 | $93.5M | $5.2M | ||
| Q1 24 | $96.7M | $3.7M |
| Q4 25 | $88.0M | $184.9M | ||
| Q3 25 | $100.3M | $165.4M | ||
| Q2 25 | $109.8M | $139.5M | ||
| Q1 25 | $148.7M | $113.5M | ||
| Q4 24 | $144.8M | $96.6M | ||
| Q3 24 | $146.0M | $67.3M | ||
| Q2 24 | $152.7M | $28.9M | ||
| Q1 24 | $169.9M | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-9.2M | $15.8M |
| FCF MarginFCF / Revenue | -22.7% | 25.9% |
| Capex IntensityCapex / Revenue | 0.1% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.0M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.2M | $16.3M | ||
| Q3 25 | $-2.2M | $-18.4M | ||
| Q2 25 | $-12.3M | $16.3M | ||
| Q1 25 | $7.0M | $20.6M | ||
| Q4 24 | $-1.2M | $-21.6M | ||
| Q3 24 | $7.4M | $38.6M | ||
| Q2 24 | $-8.5M | $-4.3M | ||
| Q1 24 | $7.1M | $2.6M |
| Q4 25 | $-9.2M | $15.8M | ||
| Q3 25 | $-4.8M | $-24.9M | ||
| Q2 25 | $-13.6M | $5.4M | ||
| Q1 25 | $4.6M | $5.8M | ||
| Q4 24 | $-1.9M | $-28.4M | ||
| Q3 24 | $6.1M | $38.6M | ||
| Q2 24 | $-9.2M | $-6.0M | ||
| Q1 24 | $5.9M | $2.6M |
| Q4 25 | -22.7% | 25.9% | ||
| Q3 25 | -10.8% | -59.3% | ||
| Q2 25 | -26.5% | 12.3% | ||
| Q1 25 | 9.1% | 5.8% | ||
| Q4 24 | -3.7% | -56.7% | ||
| Q3 24 | 10.6% | 55.1% | ||
| Q2 24 | -13.9% | -49.4% | ||
| Q1 24 | 9.0% | 16.4% |
| Q4 25 | 0.1% | 0.9% | ||
| Q3 25 | 5.9% | 15.3% | ||
| Q2 25 | 2.5% | 24.8% | ||
| Q1 25 | 4.7% | 15.0% | ||
| Q4 24 | 1.5% | 13.4% | ||
| Q3 24 | 2.2% | 0.1% | ||
| Q2 24 | 1.0% | 13.8% | ||
| Q1 24 | 1.9% | 0.2% |
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.02× | ||
| Q1 25 | — | 6.93× | ||
| Q4 24 | — | -11.32× | ||
| Q3 24 | 3.18× | 14.60× | ||
| Q2 24 | -2.27× | -3.09× | ||
| Q1 24 | — | 176.40× |
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% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
