PetVivo Holdings Inc reported a 1% increase in revenues for fiscal year 2026, totaling $1.14 million, primarily from sales of Spring and Precise PRP products. The company faced a net loss of $10.5 million for the period, attributed to increased operating expenses and a $1 million impairment charge for the Precise PRP product line. Despite the financial loss, PetVivo advanced its strategic initiatives, including the launch of the PetVivo AI platform and the acquisition of Piezo Biomembrane (PBM) to bolster its biomaterials and medical device development.

Financial Performance

Revenues for fiscal year 2026 consisted of $886,000 in sales to distributor networks and $255,000 in direct sales to veterinary clinics. This compares to the prior year, where sales totaled $956,000 to distributors and $176,000 to clinics. Gross profit for the year was $754,700, or 66.1% of revenues, a decrease from $994,900, or 87.8% of revenues, in the previous year. The decline in gross margin percentage was due to the lower margins associated with the Precise PRP product line under a license agreement with Vet Stem.

Total operating expenses increased 8% to $9.8 million, largely driven by a 16% rise in sales and marketing expenses to $3.1 million to support the commercialization of Precise PRP. This was partially offset by a 10% reduction in general administrative costs and an 11% reduction in research and development expenses. The company also recorded a $1 million impairment expense for the Precise PRP line due to lower-than-expected market acceptance. Consequently, the operating loss widened 8.5% to $9.1 million.

Balance Sheet and Capitalization

The net loss for fiscal year 2026 was $10.5 million, or $0.38 per share, compared to a net loss of $8.4 million, or $0.41 per share, in the prior year. Net cash used in operating activities was $6.1 million, up from $5.3 million in the previous year, primarily due to inventory ramp-up for Precise PRP and increased stock-based compensation.

PetVivo strengthened its balance sheet during the year, reducing current liabilities by 68% to $1.4 million from $4.3 million. Total liabilities decreased 80% to $1.4 million. This improvement resulted from the conversion of $1.6 million to convertible debt, a $798,000 reduction in lease obligations, and the extinguishment of $440,000 in derivative liabilities. In the final quarter, the company raised $877,500 in net proceeds from warrant exercises and equity sales, bringing working capital to $482,600 as of March 31, 2026.

Strategic Developments

PetVivo launched PetVivo AI, a software-as-a-service platform for veterinarians powered by Digitalandia’s Agenic PET technology. Beta feedback indicated a 50% to 90% reduction in customer acquisition costs, lowering expenses to less than $43 per new customer target. The platform is expected to generate recurring revenue with gross margins between 80% and 90%.

The company also acquired Piezo Biomembrane (PBM), a spinoff from the University of Connecticut, to advance its development of biodegradable piezoelectric materials. PBM’s technology aims to promote tissue and bone regeneration in animals and humans. Additionally, Health Canada recognized PetVivo’s Spring with Osseocushion technology as a veterinary medical device, paving the way for commercialization in Canada starting in July.

Financial Highlights

PetVivo Holdings, Inc. reported financial results for the fiscal year ended March 31, 2026, and the fourth quarter, highlighting a net loss of $10,877,275 for the full year compared to a net loss of $8,399,166 in the prior year. The company, a provider of medical devices and biomedical therapeutics for equines and companion animals, recorded revenue of $1,141,607 for fiscal 2026, up from $1,132,533 in fiscal 2025. For the fourth quarter, sales reached $254.715 thousand, a 13.33 percent increase from $224.750 thousand in the same period last year, while quarterly losses remained unchanged at $(0.11) per share.

Fiscal 2026 Financial Performance

PetVivo reported a net loss available to common stockholders of $10,877,275, or $(0.38) per share, for the year ended March 31, 2026. This compares to a net loss available to common stockholders of $8,399,166, or $(0.41) per share, for the year ended March 31, 2025. Operating expenses for the year totaled $9,817,713, an increase from $9,050,575 in the prior year, driven by higher sales and marketing costs of $3,069,104 and general and administrative expenses of $4,333,577.

Operational Highlights and Strategic Developments

During the fourth quarter, Health Canada officially recognized PetVivo’s Spryng with OsteoCushion Technology as a veterinary medical device authorized for commercialization in Canada. The company believes Spryng is among the first hydrogel-based intra-articular injectable veterinary medical devices to receive this recognition, with a commercial launch expected near the end of July. Additionally, the company advanced its partnership with Veterinary Growth Partners, which promotes Spryng to a network of over 7,300 veterinary clinics.

PetVivo’s AI technology partner, Digital Landia, launched the public beta of AgenticPet, a B2C solution for pet owners. The platform secured 1,000 active beta users in less than 72 hours. The company also advanced the commercial rollout of PetVivo.ai, a Software-as-a-Service veterinary-practice platform, which demonstrated a 50% to 90% reduction in customer acquisition costs during its beta program.

Acquisition of PiezoBioMembrane

On June 24, 2026, PetVivo announced the acquisition of PiezoBioMembrane (PMB), its R&D partner and developer of patented functional biomaterials. As a wholly-owned subsidiary, PMB will focus on the development and commercialization of next-generation biomaterials and regenerative therapeutic technologies. The acquisition is subject to customary closing conditions, including the completion of due diligence and financing activities. The companies plan to pursue FDA clearance for products incorporating PMB’s piezoelectric materials for human applications.

Conference Call Details

PetVivo management hosted a conference call to discuss the fiscal year’s financial and operational results on June 29, 2026. A replay of the webcast is available on the company’s Investor Relations website.