PetVivo Holdings Reports 17% Revenue Increase to $1.13 Million, Faces $8.4 Million Net Loss

PetVivo Holdings, Inc. reported a revenue increase of 17% for the fiscal year ending March 31, 2025, generating $1.13 million compared to $968,706 in the previous year. The revenue growth was primarily driven by sales of its lead product, Spryng®, which accounted for $956,159 of total sales, alongside additional revenue from a licensing agreement with VetStem for the PrecisePRP product. Despite the revenue increase, the company continued to face significant financial challenges, posting a net loss of approximately $8.4 million, an improvement from the $10.96 million loss reported in the prior fiscal year.

The company’s operating expenses decreased to $9.05 million from $11.49 million, largely due to reduced general and administrative costs and lower sales and marketing expenses. General and administrative expenses fell to $4.82 million, while sales and marketing expenses decreased to $2.64 million, reflecting a strategic shift in resource allocation. Research and development expenses rose slightly to $1.58 million, indicating ongoing investment in clinical studies and product development.

In terms of operational developments, PetVivo has made significant strides in its distribution strategy. The company entered into new distribution agreements with Vedco and Clipper Distributing in December 2024, which are expected to enhance its market reach. However, it also faced challenges with its previous agreements, terminating its non-exclusive distribution agreement with MWI in March 2025. The company is actively working to expand its distribution channels to increase product adoption rates among veterinarians and pet owners.

As of March 31, 2025, PetVivo had a working capital deficit of approximately $320,709, with current assets of $1.04 million against current liabilities of $1.36 million. The company has acknowledged the need for additional capital to support its operations and product commercialization efforts. In March 2025, PetVivo entered into a Subscription Agreement for $5 million in a Series B Preferred Offering, of which $600,000 was received by the end of the fiscal year. The company anticipates that these funds will help sustain operations in the short term, but it will need to secure further financing to continue its growth trajectory.

Looking ahead, PetVivo remains focused on the commercialization of Spryng® and expanding its product pipeline, which includes 17 therapeutic devices for both veterinary and human applications. The company is also pursuing additional clinical studies to validate its products and enhance market acceptance. However, the ongoing financial losses and the need for substantial capital raise concerns about its ability to achieve profitability in the near future.