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PetVivo Holdings (PETV)
OTHER OTC:PETV
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PetVivo Holdings
(OTC:PETV)
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Rating:45Neutral
Price Target:
$0.65
▼(-41.70% Downside)
Action:ReiteratedDate:02/18/26
PETV scores 45 primarily due to weak financial performance (declining revenue, very large losses, and sustained cash burn), reinforced by bearish technical trends (below key moving averages with negative MACD). The score is partially supported by a constructive earnings-call narrative (AI/SaaS opportunity, partnerships, and sharply reduced liabilities), but lack of firm guidance and ongoing liquidity/monetization timing risk cap the overall rating.
Positive Factors
Exclusive AI license & SaaS launch
The exclusive 10-year white‑label license and PetVivo AI B2B SaaS launch structurally diversifies revenue toward recurring, high‑gross‑margin software. SaaS revenue can scale with low incremental CapEx, smoothing device cyclicality and improving long‑term margin profile if conversion and retention targets materialize.
Expanded distribution & channels
New commercial partnerships with Veterinary Growth Partners and international distributors create durable distribution reach and accelerate adoption. Access to thousands of clinics and formal channel agreements reduces commercialization friction and supports more predictable, scalable product revenue over the medium term.
Regulatory recognition in Canada
Health Canada recognition establishes formal regulatory clearance enabling a planned Canadian launch. Regulatory acknowledgement is a durable barrier to entry that facilitates commercialization, builds veterinarian trust, and supports international expansion as part of a multi‑market growth strategy.
Negative Factors
Sustained negative operating cash flow
Persistent operating and free cash outflows materially exceed near‑term revenue, creating ongoing financing needs. Continued cash burn erodes runway, raises dilution risk from future raises, and constrains marketing, R&D and commercialization investments necessary to scale Spryng, PrecisePRP and the new SaaS business.
Declining revenue & deep unprofitability
Material revenue decline combined with extreme negative margins indicates current commercial traction is insufficient to cover fixed costs. Negative returns and eroding equity reduce financial flexibility, making sustained investment or scaling difficult without meaningful revenue recovery or significant external financing.
AI revenue timing & guidance uncertainty
Dependence on a future, not-yet-recurring SaaS revenue stream introduces timing risk. Lack of quantified guidance reduces visibility on conversion and revenue pacing, meaning execution delays could extend cash burn and weaken the case that AI will offset device business volatility within the 2–6 month horizon.
PetVivo Holdings (PETV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$27.31M
Dividend YieldN/A
Average Volume (3M)21.60K
Price to Earnings (P/E)―
Beta (1Y)0.08
Revenue Growth45.45%
EPS Growth20.31%
CountryUS
Employees20
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.07
Shares Outstanding35,017,418
10 Day Avg. Volume14,407
30 Day Avg. Volume21,604
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)2.91
Price to Sales (P/S)10.86
P/FCF Ratio-2.09
Enterprise Value/Market Cap0.78
Enterprise Value/Revenue19.07
Enterprise Value/Gross Profit28.88
Enterprise Value/Ebitda-2.69
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
PetVivo Holdings Business Overview & Revenue Model
Company DescriptionPetVivo Holdings, Inc., a biomedical device company, engages in the manufacturing, commercializing, and licensing of medical devices and biomaterials for the treatment of afflictions and diseases in animals. Its lead product is Spryng, a veterinarian-administered, intraarticular injection for the management of lameness and other joint afflictions, such as osteoarthritis in dogs and horses. The company's pipeline products also include 17 therapeutic devices for veterinary and human clinical applications. PetVivo Holdings, Inc. was founded in 2009 and is headquartered in Minneapolis, Minnesota.
How the Company Makes MoneyPetVivo Holdings generates revenue primarily through the sale of its flagship product, Spryng with OsteoCushion Technology, which is marketed to veterinary clinics and pet health professionals for the treatment of osteoarthritis in dogs. The company employs a direct sales model and collaborates with veterinary distributors to reach a broader market. Additionally, PetVivo may explore partnerships with veterinary hospitals and clinics to facilitate product adoption and increase sales volume. The company’s revenue model also includes potential licensing agreements or collaborations with other companies in the animal health sector, which could provide supplementary income streams.
PetVivo Holdings Earnings Call Summary
Earnings Call Date:Feb 17, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jun 25, 2026
Earnings Call Sentiment Positive
The call presented a strongly positive strategic and operational narrative: management secured transformative partnerships (exclusive AI licensing, major distributor and channel agreements), advanced R&D and international commercialization (Health Canada recognition, U.K. and Mexico distribution), and materially reduced liabilities (≈81% decline). These developments position the company for a recurring, high-margin SaaS revenue stream (PetVivo AI) that could complement device and biologic sales. Near-term financials remain challenging — modest revenue decline (−2% YoY for nine months), lower gross margins from product mix, ongoing operating losses (net loss $7.5M) and cash burn ($5.3M) leave liquidity and timing risks. Overall, the strategic progress and balance sheet improvements outweigh the current financial headwinds, suggesting a Positive sentiment with execution and monetization of AI and commercialization plans as key drivers to watch.Q3-2026 Updates
Positive Updates
Strategic AI Partnership and New SaaS Platform Launch
Signed an exclusive 10-year white-label license with Digital Landia for AgenticPet AI and launched PetVivo AI (B2B SaaS). Beta testing reported 50%–90% reduction in veterinary customer acquisition costs (from typical $80–$400 down to <$43 per target) and the platform claims high recurring revenue potential with 80%–90% gross margins and low CapEx.
Rapid Early Adoption of AgenticPet B2C Beta
Digital Landia's public B2C AgenticPet beta onboarded 1,000 active users in less than 72 hours, validating strong consumer demand and strengthening B2B PetVivo AI value proposition.
Key Distribution and Channel Partnerships
Entered significant commercial partnerships: Veterinary Growth Partners (VGP) committed to actively promote Spryng and PrecisePRP to its >7,300 clinic members; Nupsala Group began U.K. distribution (initial order shipped); Eq Especialidades signed for Mexico distribution—opening major international markets.
Regulatory Milestone — Canada Recognition
Health Canada acknowledged Spryng with OsteoCushion technology as a veterinary medical device, enabling planned commercial launch in Canada (targeted early Q3 calendar 2026) and opening a sizable international market opportunity.
Pipeline and R&D Progress
Progressed multi-stage R&D with PiezoBioMembrane: Stage A/B completed (material compatibility, piezoelectric activity, and scalable mass production with preliminary safety in animals); Stage C expected to begin in Q2 2026 to demonstrate definitive animal safety/efficacy and enable potential human FDA pathway thereafter. Canine elbow pilot study data collection completed and being prepared for white paper submission.
Product Commercialization Momentum — PrecisePRP
Commercial launch of PrecisePRP (allogenic PRP) underway under exclusive license with VetStem; received favorable veterinarian feedback on ease of use and are actively promoting at major industry conferences to drive adoption.
Significant Reduction in Total Liabilities
Total liabilities decreased to $1.0 million at Dec 31 (down from $5.1 million on Mar 31), representing an ~81% reduction over the nine-month period, primarily from convertible note conversions and extinguishment of derivative liabilities.
Stable Near-Term Revenue and Improved Working Capital Positioning
Nine-month revenues of $887,000 decreased only 2% year-over-year despite product mix shift; current assets of $1.4 million, current liabilities of $980,000 and working capital of $395,000. Subsequent to period end, $477,500 was raised via warrant exercises and equity sales.
Negative Updates
Revenue Mix Shift and Spryng Sales Decline
Spryng sales for the nine months were $400,800 while PrecisePRP sales were $486,000. Overall revenue fell 2% YoY for the nine-month period, with Spryng sales negatively impacted by absence of prior-year promotional activity and some customers opting to use PrecisePRP alone rather than both products together.
Lower Gross Margin from Product Mix Change
Gross profit for the first nine months was $551,500 (62.2% of revenues), a decrease from the prior period's higher gross margin (stated as 89% of revenues previously). Management attributed the decline to higher proportion of lower-margin PrecisePRP in the sales mix and expects to explore margin improvements for PrecisePRP.
Continued Operating Losses and Increased Net Loss
Total operating expenses were $6.7 million (down 2%), but operating loss increased 2% to $6.1 million (from $6.0 million). Net loss for the nine months rose to $7.5 million ($0.27 per share) versus a $6.0 million net loss ($0.30 per share) in the prior period, driven in part by unrealized loss on derivative liabilities, loss on disposal of assets, amortization of debt discount and interest on convertible notes.
Cash Burn and Tight Liquidity Metrics
Net cash used in operating activities totaled $5.3 million for the nine months. Working capital was modest at $395,000 and current assets were $1.4 million, indicating ongoing reliance on financing and capital raises to fund operations and commercialization ramp.
Revenue Recognition Timing and Uncertainty for AI Revenue
Management noted revenue from Digital Landia-related activities will not begin until the next fiscal quarter (post-April 1), creating timing-related uncertainty for near-term revenue ramp from the new AI business.
No Quantitative Forward Guidance Provided
Management declined to issue updated revenue or P&L guidance for the pet-side business and noted prior guidance recall uncertainty, which limits investor visibility into expected financial performance.
Market and Listing Headwinds
Uplisting plans target the NYSE American rather than NASDAQ, and management noted that stock price and a correction in the life science microcap market could delay or complicate uplisting efforts.
Company Guidance
The company did not provide firm forward revenue guidance on the call (management declined to reaffirm a prior ~$2.0–$2.5M fiscal-year estimate), but gave directional expectations and timing: PetVivo AI revenue is expected to begin contributing in the next fiscal year (post-April 1) with monetization “mid-year,” and will be a monthly recurring SaaS stream with very high gross margins (projected in the high 80%–90%) and low CapEx. Management highlighted product and balance-sheet metrics to frame outlook: nine‑month revenue of $887K (Spryng $400,800; PrecisePRP $486,000), gross profit $551,500 (62.2% margin), operating expenses $6.7M, operating loss $6.1M, net loss $7.5M ($0.27/share), net cash used in operations $5.3M, current assets $1.4M, current liabilities $980K, working capital $395K, subsequent inflows $477,500, and total liabilities down 81% to $1.0M (accounts payable down 53% to <$386K). On product economics and adoption, management cited PetVivo AI beta results (AgenticPet B2C: 1,000 users in <72 hours; 97% reported diagnostic accuracy), claimed 50%–90% reductions in customer acquisition cost (from typical $80–$400 down to < $43 per target), and referenced expected subscription conversion rates in the ~20%–25% range; however, no specific near‑term revenue or EPS targets were issued.PetVivo Holdings Financial Statement Overview
Summary
Financials are the primary overhang: TTM revenue is down materially (~-21%), losses are extremely large relative to revenue (net margin roughly -893%), and operating/free cash flow remain significantly negative (about -$6.5M/-$7.0M). A key offset is the low leverage profile (debt-to-equity ~0.02) and solid gross margin structure (~66%), but ongoing cash burn and weak profitability keep the score low.Income Statement
TTM (Trailing-Twelve-Months) revenue is down materially (about -21%), showing an uneven commercial trajectory. Gross margin remains solid in TTM (~66%), but the company is still deeply unprofitable with very large operating and net losses (net margin roughly -893%), and profitability has not yet stabilized despite some improvement versus the worst prior year levels. Strength: healthy gross margin profile for a medical device model; weakness: persistent, very high operating losses relative to the current revenue base.18
Very Negative
Balance Sheet
Leverage improved sharply in TTM with very low debt relative to equity (debt-to-equity ~0.02), which reduces near-term balance-sheet risk. However, equity has declined versus prior annual periods and returns remain strongly negative (TTM return on equity around -3.3), reflecting ongoing losses and potential dilution/financing needs over time. Strength: currently low leverage; weakness: negative returns and shrinking capital base.38
Negative
Cash Flow
TTM operating cash flow and free cash flow are both significantly negative (roughly -$6.5M and -$7.0M), indicating continued cash burn to fund operations. While free cash flow deterioration appears to be moderating versus some prior years, cash generation is not yet in sight and cash outflows remain large compared with revenue. Strength: burn trend not worsening dramatically; weakness: sustained negative operating and free cash flow.22
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.11M | 1.13M | 968.71K | 917.16K | 115.59K | 12.58K |
| Gross Profit | 734.22K | 994.86K | 739.53K | 390.35K | -85.57K | 1.88K |
| EBITDA | -7.87M | -7.69M | -10.49M | -8.62M | -4.99M | -1.87M |
| Net Income | -9.93M | -8.40M | -10.96M | -8.70M | -4.94M | -3.75M |
Balance Sheet | ||||||
| Total Assets | 4.38M | 9.34M | 3.12M | 2.44M | 7.43M | 835.25K |
| Cash, Cash Equivalents and Short-Term Investments | 168.16K | 377.69K | 87.40K | 475.31K | 6.11M | 23.58K |
| Total Debt | 70.56K | 2.90M | 1.37M | 345.33K | 332.85K | 732.53K |
| Total Liabilities | 997.40K | 5.12M | 2.43M | 1.71M | 1.44M | 1.73M |
| Stockholders Equity | 3.38M | 4.22M | 685.95K | 725.02K | 5.99M | -896.98K |
Cash Flow | ||||||
| Free Cash Flow | -7.05M | -5.89M | -7.73M | -7.22M | -4.36M | -1.21M |
| Operating Cash Flow | -6.52M | -5.32M | -7.42M | -6.79M | -4.17M | -1.05M |
| Investing Cash Flow | -509.40K | -563.43K | -309.10K | -423.93K | -183.18K | -160.16K |
| Financing Cash Flow | 7.02M | 6.03M | 7.34M | 1.59M | 10.44M | 1.22M |
PetVivo Holdings Technical Analysis
Negative
1.12
Price Trends
0.95
Negative
1.10
Negative
0.97
Negative
Market Momentum
-0.06
Negative
43.73
Neutral
82.42
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PETV, the sentiment is Negative. The current price of 1.12 is above the 20-day moving average (MA) of 0.78, above the 50-day MA of 0.95, and above the 200-day MA of 0.97, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 43.73 is Neutral, neither overbought nor oversold. The STOCH value of 82.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PETV.
PetVivo Holdings Risk Analysis
PetVivo Holdings disclosed 35 risk factors in its most recent earnings report. PetVivo Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PetVivo Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $14.37M | -0.16 | ― | ― | -50.49% | 39.93% | |
48 Neutral | $11.28M | -0.21 | -127.95% | ― | -2.02% | -32.93% | |
46 Neutral | $24.07M | -4.63 | -139.29% | ― | 4.58% | 55.26% | |
45 Neutral | $27.31M | -2.06 | -379.92% | ― | 45.45% | 20.31% | |
43 Neutral | $14.65M | -0.71 | -335.47% | ― | 18.76% | 60.09% |
* Healthcare Sector Average
PETV
PetVivo Holdings
0.78
0.23
41.82%
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ALUR
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NXL
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PetVivo Holdings Corporate Events
Executive/Board Changes
PetVivo Holdings Announces Board Change After Director Resignation
Neutral
Jan 29, 2026
On January 26, 2026, PetVivo Holdings, Inc. announced that director Spencer Breithaupt resigned from the company’s Board of Directors, with the company emphasizing that his departure did not stem from any disagreement over operations, policies or practices. In response, the board formally reduced its size from seven members to six and chose not to immediately fill the vacancy, while reserving the option to later appoint an additional director, and publicly expressed appreciation for Breithaupt’s leadership and contributions during his tenure.
The most recent analyst rating on (PETV) stock is a Hold with a $0.98 price target. To see the full list of analyst forecasts on PetVivo Holdings stock, see the PETV Stock Forecast page.
Business Operations and StrategyRegulatory Filings and Compliance
PetVivo Holdings Announces New Investor Presentation Materials
Neutral
Jan 22, 2026
PetVivo Holdings, Inc. disclosed that its executives planned to present an investor deck at conferences and other forums, with the same material also to be made available on the company’s website. The slide presentation, furnished under Regulation FD via a Form 8-K, is being provided as supplemental, summary information to be viewed in the broader context of PetVivo’s existing SEC filings and public disclosures, and the company emphasized that the furnished materials are not deemed filed for liability purposes and may be updated or revised over time without an obligation to do so.
The most recent analyst rating on (PETV) stock is a Hold with a $0.98 price target. To see the full list of analyst forecasts on PetVivo Holdings stock, see the PETV Stock Forecast page.
Executive/Board Changes
PetVivo Holdings Announces Board Member Resignation, Board Reduced
Neutral
Jan 14, 2026
On January 9, 2026, PetVivo Holdings, Inc. announced that board member Michael Eldred resigned from its Board of Directors, effective that same date, with the company stating his departure did not stem from any disagreement over its operations, policies, or practices. Following his resignation, the board voted to reduce its size from eight to seven directors and chose not to fill the resulting vacancy immediately, while formally expressing appreciation for Eldred’s service to the company.
The most recent analyst rating on (PETV) stock is a Hold with a $0.98 price target. To see the full list of analyst forecasts on PetVivo Holdings stock, see the PETV Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.