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Side-by-side financial comparison of PETMED EXPRESS INC (PETS) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $40.7M, roughly 1.3× PETMED EXPRESS INC). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -26.0%, a 93.3% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -23.3%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-9.2M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
PETS vs VEL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.7M | $51.6M |
| Net Profit | $-10.6M | $34.8M |
| Gross Margin | 23.3% | — |
| Operating Margin | -25.7% | 97.0% |
| Net Margin | -26.0% | 67.3% |
| Revenue YoY | -23.3% | 32.8% |
| Net Profit YoY | -1392.6% | 67.0% |
| EPS (diluted) | $-0.50 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $44.4M | $49.1M | ||
| Q2 25 | $51.2M | $47.6M | ||
| Q1 25 | $50.8M | $37.5M | ||
| Q4 24 | $52.0M | $38.9M | ||
| Q3 24 | $58.0M | $35.1M | ||
| Q2 24 | $66.2M | $32.4M | ||
| Q1 24 | $65.1M | $29.5M |
| Q4 25 | $-10.6M | $34.8M | ||
| Q3 25 | $-8.5M | $25.4M | ||
| Q2 25 | $-34.2M | $26.0M | ||
| Q1 25 | $-11.6M | $18.9M | ||
| Q4 24 | $-707.0K | $20.8M | ||
| Q3 24 | $2.3M | $15.8M | ||
| Q2 24 | $3.8M | $14.8M | ||
| Q1 24 | $-5.0M | $17.3M |
| Q4 25 | 23.3% | — | ||
| Q3 25 | 28.0% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 29.9% | — | ||
| Q4 24 | 31.0% | — | ||
| Q3 24 | 32.3% | — | ||
| Q2 24 | 28.8% | — | ||
| Q1 24 | 29.3% | — |
| Q4 25 | -25.7% | 97.0% | ||
| Q3 25 | -18.9% | 72.1% | ||
| Q2 25 | -66.7% | 71.3% | ||
| Q1 25 | -11.9% | 71.7% | ||
| Q4 24 | -0.9% | 82.5% | ||
| Q3 24 | 1.0% | 60.6% | ||
| Q2 24 | 6.6% | 61.3% | ||
| Q1 24 | -5.9% | 78.8% |
| Q4 25 | -26.0% | 67.3% | ||
| Q3 25 | -19.2% | 51.7% | ||
| Q2 25 | -66.7% | 54.6% | ||
| Q1 25 | -22.9% | 50.4% | ||
| Q4 24 | -1.4% | 53.5% | ||
| Q3 24 | 4.0% | 45.1% | ||
| Q2 24 | 5.7% | 45.6% | ||
| Q1 24 | -7.7% | 58.5% |
| Q4 25 | $-0.50 | $0.90 | ||
| Q3 25 | $-0.41 | $0.65 | ||
| Q2 25 | $-1.65 | $0.69 | ||
| Q1 25 | $-0.56 | $0.51 | ||
| Q4 24 | $-0.03 | $0.56 | ||
| Q3 24 | $0.11 | $0.44 | ||
| Q2 24 | $0.18 | $0.42 | ||
| Q1 24 | $-0.24 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $32.8M | $672.5M |
| Total Assets | $88.0M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.9M | $92.1M | ||
| Q3 25 | $36.1M | $99.0M | ||
| Q2 25 | $41.1M | $79.6M | ||
| Q1 25 | $54.7M | $51.7M | ||
| Q4 24 | $50.1M | $49.9M | ||
| Q3 24 | $52.0M | $44.1M | ||
| Q2 24 | $46.0M | $47.4M | ||
| Q1 24 | $55.3M | $34.8M |
| Q4 25 | $32.8M | $672.5M | ||
| Q3 25 | $43.1M | $634.3M | ||
| Q2 25 | $51.5M | $597.9M | ||
| Q1 25 | $85.1M | $563.2M | ||
| Q4 24 | $96.2M | $516.9M | ||
| Q3 24 | $96.4M | $484.6M | ||
| Q2 24 | $93.5M | $471.3M | ||
| Q1 24 | $96.7M | $452.9M |
| Q4 25 | $88.0M | $7.4B | ||
| Q3 25 | $100.3M | $7.0B | ||
| Q2 25 | $109.8M | $6.5B | ||
| Q1 25 | $148.7M | $6.0B | ||
| Q4 24 | $144.8M | $5.5B | ||
| Q3 24 | $146.0M | $5.2B | ||
| Q2 24 | $152.7M | $4.9B | ||
| Q1 24 | $169.9M | $4.6B |
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 | $18.2M |
| Free Cash FlowOCF − Capex | $-9.2M | $17.9M |
| FCF MarginFCF / Revenue | -22.7% | 34.6% |
| Capex IntensityCapex / Revenue | 0.1% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.0M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.2M | $18.2M | ||
| Q3 25 | $-2.2M | $11.5M | ||
| Q2 25 | $-12.3M | $7.7M | ||
| Q1 25 | $7.0M | $3.5M | ||
| Q4 24 | $-1.2M | $37.8M | ||
| Q3 24 | $7.4M | $-17.6M | ||
| Q2 24 | $-8.5M | $11.5M | ||
| Q1 24 | $7.1M | $10.6M |
| Q4 25 | $-9.2M | $17.9M | ||
| Q3 25 | $-4.8M | $11.4M | ||
| Q2 25 | $-13.6M | $7.6M | ||
| Q1 25 | $4.6M | $3.5M | ||
| Q4 24 | $-1.9M | $37.5M | ||
| Q3 24 | $6.1M | $-17.6M | ||
| Q2 24 | $-9.2M | $11.4M | ||
| Q1 24 | $5.9M | $10.5M |
| Q4 25 | -22.7% | 34.6% | ||
| Q3 25 | -10.8% | 23.2% | ||
| Q2 25 | -26.5% | 15.9% | ||
| Q1 25 | 9.1% | 9.2% | ||
| Q4 24 | -3.7% | 96.4% | ||
| Q3 24 | 10.6% | -50.3% | ||
| Q2 24 | -13.9% | 35.1% | ||
| Q1 24 | 9.0% | 35.8% |
| Q4 25 | 0.1% | 0.5% | ||
| Q3 25 | 5.9% | 0.1% | ||
| Q2 25 | 2.5% | 0.2% | ||
| Q1 25 | 4.7% | 0.2% | ||
| Q4 24 | 1.5% | 0.7% | ||
| Q3 24 | 2.2% | 0.2% | ||
| Q2 24 | 1.0% | 0.3% | ||
| Q1 24 | 1.9% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 3.18× | -1.11× | ||
| Q2 24 | -2.27× | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
