PetVivo Holdings, Inc. reported a significant decline in financial performance for the three and nine months ended December 31, 2025, as detailed in its latest 10-Q filing. The company generated revenues of $286,108 for the three months, a decrease of 51% from $583,313 in the same period last year. For the nine-month period, revenues totaled $886,892, down from $907,783. The decline in revenue was attributed primarily to reduced sales of its lead product, Spryng®, which was impacted by the absence of promotional discounts that had been offered in the previous year.
The company's cost of sales also increased significantly, rising to $141,396 for the three months ended December 31, 2025, compared to $61,497 in the prior year. This increase was largely due to the lower-margin purchase of finished goods related to the newly introduced PrecisePRP™ product, which the company licensed from VetStem, Inc. Operating expenses for the three months rose slightly to $2,336,167 from $2,280,221, driven by higher general and administrative and sales and marketing costs. Consequently, PetVivo reported an operating loss of $2,191,455 for the quarter, compared to a loss of $1,758,405 in the same quarter of 2024.
In terms of strategic developments, PetVivo has made notable advancements, including the exclusive licensing agreement with VetStem for the PrecisePRP™ product, which is expected to contribute to future revenues. The company also reported a significant increase in its inventory, which rose to $605,390 from $323,504, indicating preparations for increased production and sales efforts. The total assets of the company decreased to $4,376,154 from $9,339,195, while total liabilities also fell to $997,404 from $5,119,947, reflecting a reduction in debt obligations.
Looking ahead, PetVivo's management expressed concerns regarding its ability to continue as a going concern, citing an accumulated deficit of $98,987,394 and a net loss of $7,510,301 for the nine months ended December 31, 2025. The company indicated that it would need to raise additional capital to support its operations and commercialization efforts for Spryng® and PrecisePRP™. The outlook remains uncertain, as the company will need to navigate market conditions and its operational performance to secure the necessary funding for future growth.
About PetVivo Holdings, Inc.
PetVivo Holdings, Inc. is a biomedical device company specializing in innovative veterinary products, primarily targeting osteoarthritis in animals. Its core offerings include the Spryng intra-articular injection, leveraging proprietary biomaterials to promote joint tissue restoration. The company focuses on licensing, manufacturing, and commercializing animal therapeutics, with a pipeline extending to human applications. It operates through strategic distribution channels in the U.S. pet and equine markets.
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