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PetVivo Reports Financial and Operational Results for Fiscal 2026
MINNEAPOLIS, MN, US, June 29, 2026 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQX: PETV) (OTCID: PETVW), in cooperation with its wholly-owned subsidiaries, Cosmeta Corp, PetVivo Animal Health, Inc. and PetVivo AI, Inc., a leading provider of medical devices and biomedical therapeutics for equines and companion animals, reported operational results for the fourth quarter of its fiscal year ended March 31, 2026, and financial results for the full fiscal year.
PetVivo will hold a conference call today at 5:00 p.m. Eastern time to discuss the results and provide a business update, followed by a question-and-answer session (see dial-in information below).
Fiscal Q4 Operational Highlights
- 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 one of the first hydrogel-based intra-articular injectable veterinary medical devices to receive regulatory recognition from Health Canada that will lead to commercialization in the country. This important regulatory milestone expands the company’s international commercial opportunities and reflects the quality and safety of its innovative technology. The commercial launch in Canada is expected near the end of July.
- PetVivo’s AI technology partner, Digital Landia, officially launched a public beta access to its AgenticPet B2C solution for pet owners. The B2C platform is designed to educate and engage pet owners while serving as a gateway to the company's planned B2B veterinary platform, creating an integrated ecosystem that facilitates collaboration between pet owners and veterinary professionals. The B2B AgenticPet features specialized AI agents that support the broader adoption of PetVivo’s veterinary products and services. AgenticPet analyzes pet medical records to assist veterinarians in proactively diagnosing afflictions and diseases, such as osteoarthritis and lameness, and suggest treatment options. AgenticPet’s AI-powered diagnosis with an amazing 97% accuracy represents a paradigm shift in the medical treatment of companion animals. The solution targets Gen Zers who represent 20% of U.S. pet households, with their ownership growing more than 43% annually.
- Digital Landia also reported that the public B2C launch of AgenticPet “crushed expectations” with the onboarding of 1,000+ active beta users in less than 72 hours and thereby demonstrating pent up demand for AI-driven pro-active pet healthcare. The successful beta program is anticipated to strengthen the value proposition of the PetVivo.ai B2B offering for thousands of veterinarians nationwide.
- Advanced the commercial roll out of the new PetVivo.ai Software-as-a-Service veterinary-practice platform powered exclusively by Digital Landia’s AgenticPet AI technology. The initial rollout engaged a select group of veterinarians under a beta-launch program. The group demonstrated a 50% to 90% reduction in veterinary customer acquisition costs, lowering it from the typical $80–$400 spent per customer target to less than $43. The training of its AI engine is currently underway using real-world scenarios, with the official commercial launch expected within the next few months.
PetVivo.ai complements PetVivo’s existing medical device offerings currently marketed to a network of thousands of veterinary clinics across North America (including Mexico) and Europe. The AI-powered platform creates a new recurring revenue stream for the company with high (80%-90%) gross margins and low-capex scalability. Interested veterinarians may request a free demo here. Watch video explainer here.
- Completed majority of the tasks for Stage B of the three-part R&D program with PiezoBioMembrane (PMB), a spin-off from the University of Connecticut that is advancing patented biodegradable piezoelectric materials for implantable and regenerative applications. PBM’s revolutionary functional biomaterials are designed to promote regeneration, restoration and/or remodeling of damaged or injured tissue and bone in animals and humans.
Stage A determined PetVivo and PMB products could be combined into a single offering that demonstrates piezoelectric activity, with this potentially providing therapeutic benefits for animals and humans. Stage B determined the combined offering could be produced at scale and provided preliminary indication of safety for administration in animals. Stage C of the R&D program, which is soon to commence, will determine definitive safety and efficacy. The companies (now combined, see subsequent events, below) plan to pursue FDA clearance of a number of products for human applications that incorporate PMB’s piezoelectric materials in the biomaterial included in the company’s product, Spryng, which mimics the extra-cellular matrix in animals and humans.
- Continued to advance the strategic collaboration with Commonwealth Markets, the syndicated ownership group behind the 2023 Kentucky Derby winner. Commonwealth has integrated Spryng® into the care protocols of its top-tier thoroughbred stables. It is being used to promote joint health, performance longevity, and support recovery in high-impact training and racing environments.
- Exhibited PetVivo’s lead veterinarian products at several major industry conferences, including the Florida Veterinary Medical Association Ocala Equine Conference held at the World Equestrian Center in Ocala, Florida, the American College of Veterinary Sports Medicine and Rehabilitation Symposium in Lexington, Kentucky and the International Veterinary Academy of Pain Management Forum held in Dallas, Texas. Such industry events help drive the greater adoption of Spryng® by expanding awareness among key decision-makers of its effectiveness in the management of osteoarthritis in animals.
- Presented at the Market Movers Investor Summit at the historic Bank of New York to elevate awareness of the company in the institutional investor community. The high-profile inaugural event held in May featured a ‘fireside chat’ by Alex Rodriguez, recognized as one of the greatest MLB players of all time and founder chairman and CEO of the alternative investment firm, A-Rod Corp.
- Advanced the development of additional canine and equine studies for tolerance and efficacy of Spryng®. This follows the accumulation of data from the earlier announced canine elbow pilot study conducted by Orthobiologic Innovations, a leader in R&D for regenerative and sports medicine. The study was led by prominent veterinarians, Sherman and Debra Canapp, who are working in cooperation with the company’s technical service veterinarians to incorporate the results into a white paper in preparation for submission to industry journals for potential publication.
- Continued to develop the company’s pipeline of new products under development, including functional biomaterials, as well as tissue and bone mimicking biomaterials, which may be used to enhance the delivery of pharmacological agents and promote the regeneration, restoration and/or remodeling of damaged or injured tissue and bone in animals and humans.
- Advanced the company’s new partnership with Veterinary Growth Partners (VGP), a management services organization (MSO) that supports veterinary practices with management and marketing tools, consulting, and vendor relationships designed to improve efficiency and profitability. VGP has been promoting PetVivo’s Spryng® with OsteoCushion® Technology to its expansive member network of more than 7,300 veterinary clinic members across the United States. PetVivo product training of the veterinarians in their network continues, with plans to soon introduce the company’s new PetVivo.ai practice management platform to VGP’s clinic membership.
Subsequent Events
On June 24, 2026, PetVivo announced the acquisition of PiezoBioMembrane, PetVivo’s R&D partner and the developer of patented functional biomaterials and piezoelectric technologies applicable to both animal and human medical treatment which were invented at the University of Connecticut.
As a new wholly owned subsidiary of PetVivo, PBM will continue to focus on the development, commercialization, licensing, and management of next-generation biomaterials, regenerative/restorative therapeutic technologies, and related intellectual property.
PBM's unique technology platform includes proprietary know-how, licensed intellectual property rights, patents, patent applications, trade secrets, biomaterials, formulations, regulatory assets, manufacturing information, development materials, and clinical information that supports the further development of functional biomaterials, medical devices, and other beneficial therapeutic applications for animal and human health.
The acquisition represents a transformative step in PetVivo's long-term growth strategy that includes the development of multiple medical device and therapeutic products. By combining PBM's scientific innovations with PetVivo's product development capabilities, commercialization experience, regulatory expertise, and public company infrastructure, the merger is expected to accelerate the advancement of unique, high-value technologies that will serve as the foundation for numerous future products and strategic opportunities.
The many synergies of the combined companies also create new opportunities for securing government and private development grants and research collaborations and R&D tax credit programs, with the pursuit of many such opportunities already underway.
The acquisition is subject to customary closing conditions, including completion of due diligence, satisfaction of specified closing obligations, execution of related transaction documents and completion of financing activities.
Management Commentary
“Our fiscal 2026 was an exciting year of rapid transformation and platform commercialization for PetVivo, as we continued to focus our unique IP on the greatest opportunities in our marketplace,’ commented PetVivo CEO, John Lai. “The many new opportunities we’ve pursued over the past year have required extraordinary attention and capital deployment to ensure their effective development and market adoption.
“In this way our development and sales teams remained razor focused on our primary objective: generating strong, high margin recurring revenue streams that will drive the highest valuation for PETV for the benefit of our stakeholders.
“The extensive clinical validation and market adoption of our flagship product, Spryng® with OsteoCushion Technology®, has brought us far along in our journey. Over the course of the past year, it has attracted and set the stage for the launch of several new technologies and products—now for both animal and human—which promise to far exceed Spryng’s original great potential.
“The year was highlight by tremendous progress with several new strategic alliances and collaborations with key partners that have been paving the way for strong growth ahead. This includes Digital Landia, an industry leading pioneer in Agentic AI solutions from whom we secured exclusive licensing for their breakthrough next generation technology that now powers our new PetVivo.ai veterinary practice platform.
“As the first of its kind, PetVivo.ai provides us a strong first-mover advantage with the powerful capabilities it provides veterinarian clinics. An initial select group of veterinarian practices under a beta program are providing us very helpful feedback and impressive results.
“PetVivo.ai complements our existing business by creating new inroads for the adoption of our Spryng medical device and other therapeutic offerings we have under development. The SaaS-based PetVivo.ai also creates a new recurring revenue stream with high gross margins and low-capex scalability. The final training of its AI engine is currently underway, with the official commercial launch expected within the next few months.
“We have also continued to rapidly advance our three-part R&D program with PiezoBioMembrane (PMB). The program has determined that our respective products can be combined into a single offering which could provide therapeutic benefits to animals and humans. Following the conclusion of this study, we plan to pursue FDA clearance for a number of products incorporating PMB’s patented piezoelectric materials.
“We expect this study and related product development to now proceed more quickly given our announcement last week of our transformative acquisition of PBM. They bring to us an advanced technology platform with a multitude of valuable assets that support the development of functional biomaterials, medical devices, and other beneficial therapeutic applications for animals and humans.
“Our combination also creates new opportunities for securing government and private development grants and research collaborations as well as R&D tax credit programs, with the pursuit of many such opportunities already underway.
“In the final quarter of fiscal 2026, our diligent efforts resulted in Health Canada officially recognizing our Spryng® with OsteoCushion® Technology as a veterinary medical device authorized for commercialization in Canada. Health Canada’s action represents a major milestone in our global commercialization strategy. We see a huge opportunity in Canada, with its animal healthcare market reportedly growing at a 6.8% CAGR to exceed $4.4 billion by 2031.
“Moreover, we believe we have a meaningful first-mover advantage in this major market. To our knowledge, Spryng is believed to be the first hydrogel-based intra-articular injectable veterinary medical device to receive regulatory recognition from Health Canada that will lead to commercialization in the country. We also hear from veterinarians and distributors that there is substantial pent-up demand for such an innovative product that has been recognized by Health Canada as a medical device, which will help initiate commercialization in the Canadian market.
“In the year ahead, we will continue to advance our pipeline of new products with our efforts greatly expanded and strengthened by PBM and Digital Landia. Such products include the introduction of new functional biomaterials, as well as tissue and bone-mimicking biomaterials designed to enhance the delivery of pharmacological agents and/or promote the regeneration, restoration and/or remodeling of damaged or injured tissue and bone in animals and humans.
“We believe our Collagen-Elastin Hydrogel Particles (CEHM), when combined with PMB technology, can effectively create the structure or scaffolding and assist in facilitating the body’s own biological activity that can restore and/or remodel natural tissue to a more normal and healthy state.
“The breakthrough technology also addresses other potential animal and human applications, such as using this functional biomaterial particle technology for physical and drug therapy treatments via the respiratory system using a nebulizer.
“We are also investigating potential topical treatments for eye afflictions such as ocular ulcers, as well as wound treatment where our functional biomaterial technology can help remodel and restore damaged tissue to a more normal and healthy state. This may include assisting the healing process by delivering existing FDA-approved antibiotic anti-viral and anesthetic substances.
“Altogether, our new technologies and products in our development pipeline have created an even more exciting future for PetVivo, one that is transformative to not only veterinarians and the companion animals they serve, but potentially for humans as well.
“Looking ahead, with our existing offerings, we expect to see continued sales momentum and market penetration for the duration of fiscal 2027 and beyond. The addition of new, more capable sales team members over recent weeks have been making a solid impact. In fact, I believe we have never been in a better position to accelerate our growth and expansion across our high growth U.S. and international markets.
“Industry analysts say that the U.S. animal health market alone will double to $11.3 billion by 2030. Such massive growth is rare for such an already large industry, and this provides us exceptionally strong tailwinds. As we continue to grow and expand, we will remain committed to advancing the best in innovative health care solutions, with our success in these efforts 100% focused on driving greater value for our stakeholders.”
Fiscal 2026 Financial Results
For PetVivo financial results for the fiscal year ended March 31, 2026, please see the Form 10K as provided on the company’s website here or at sec.gov, as well in the Consolidated Statements of Operations and Consolidated Balance Sheet provided below.
Conference Call
PetVivo management will host a conference call later today to discuss the fiscal year’s financial and operational results, followed by a question-and-answer period.
Date: Monday, June 29, 2026
Time: 5:00 pm Central time (6:00 pm Eastern time)
Dial-in: +1 719 359 4580
Meeting ID: 82601091950
Passcode: 101283
Webcast (live and replay): Click here
A replay of the webcast will be available through the same link following the conference call.
The webcast is also available via a link in the Investors section of the company’s website at petvivo.com/investors.
About PetVivo Holdings
PetVivo Holdings Inc. (OTCQX: PETV; OTCID: PETVW), in cooperation with its wholly owned subsidiaries Cosmeta Corp, PetVivo Animal Health, Inc. and PetVivo AI Inc., is an emerging biomedical device company currently focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals.
The company's strategy is to leverage human therapies for the treatment of companion animals in a capital and time efficient way. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics.
PetVivo has a robust pipeline of products for the treatment of animals and people. A portfolio of twelve patents and six trade secrets protect the Company's biomaterials, products, production processes and methods of use.
The company’s lead product, SPRYNG® with OsteoCushion® technology, is a veterinarian-administered, intra-articular injection for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses.
For more information about PetVivo Holdings contact info1@petvivo.com or visit petvivo.com, petvivoanimalhealth.com or sprynghealth.com.
Disclosure Information
PetVivo uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the company’s Investor Relations website, in addition to following the company’s press releases, SEC filings, public conference calls, presentations and webcasts.
Important Cautions Regarding Forward-Looking Statements
The foregoing information regarding PetVivo Holdings, Inc. (the “Company”), including its subsidiaries may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s proposed development and commercial timelines, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2026, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact
John Lai, CEO
PetVivo Holdings, Inc.
Email Contact
Tel (952) 405-6216
PETVIVO HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
| Year Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenues | $ | 1,141,607 | $ | 1,132,533 | ||||
| Cost of Sales | 386,856 | 137,677 | ||||||
| Gross Profit | 754,751 | 994,856 | ||||||
| Operating Expenses: | ||||||||
| Sales and Marketing | 3,069,104 | 2,644,095 | ||||||
| Research and Development | 1,415,032 | 1,583,250 | ||||||
| General and Administrative | 4,333,577 | 4,823,230 | ||||||
| Impairment Expense | 1,000,000 | - | ||||||
| Total Operating Expenses | 9,817,713 | 9,050,575 | ||||||
| Operating Loss | (9,062,962 | ) | (8,055,720 | ) | ||||
| Other Income (Expense) | ||||||||
| Loss on Disposal of Assets | (149,125 | ) | - | |||||
| Gain on Extinguishment of debt | - | 66,076 | ||||||
| Unrealized Loss on Change in Derivative Liabilities | (320,404 | ) | (106,513 | ) | ||||
| Other Income | 111,517 | 56,399 | ||||||
| Interest Income | 13,099 | - | ||||||
| Interest Expense | (1,065,797 | ) | (359,408 | ) | ||||
| Total Other Income (Expense) | (1,410,710 | ) | (343,446 | ) | ||||
| Loss before taxes | (10,473,672 | ) | (8,399,166 | ) | ||||
| Income Tax Provision | - | - | ||||||
| Net Loss | (10,473,672 | ) | (8,399,166 | ) | ||||
| Less: Series B Preferred Stock Dividends | (403,603 | ) | - | |||||
| Net Loss Available to Common Stockholders | $ | (10,877,275 | ) | $ | (8,399,166 | ) | ||
| Net Loss Per Share: | ||||||||
| Basic and Diluted | $ | (0.38 | ) | $ | (0.41 | ) | ||
| Weighted Average Common Shares Outstanding: | ||||||||
| Basic and Diluted | 30,154,631 | 20,491,422 | ||||||
The accompanying notes are an integral part of these consolidated financial statements.
PETVIVO HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS
| March 31, 2026 | March 31, 2025 | |||||||
| Assets: | ||||||||
| Current Assets | ||||||||
| Cash | $ | 200,782 | $ | 227,689 | ||||
| Accounts receivable, net of allowance for credit losses | 100,843 | 60,573 | ||||||
| Subscriptions receivable | 600,000 | 4,400,000 | ||||||
| Inventory, net of allowances (Note 2) | 538,366 | 323,504 | ||||||
| Investments | 150,000 | 150,000 | ||||||
| Prepaid expenses and other current assets (Note 3) | 269,930 | 447,801 | ||||||
| Total Current Assets | 1,859,921 | 5,609,567 | ||||||
| Property and Equipment, net (Note 4) | 448,881 | 766,874 | ||||||
| Other Assets: | ||||||||
| Operating lease right-of-use | 54,711 | 961,539 | ||||||
| Patents and trademarks, net (Note 5) | 20,509 | 23,725 | ||||||
| Licensing Agreements, net (Note 6) | 1,179,889 | 1,950,000 | ||||||
| Security deposit | 12,830 | 27,490 | ||||||
| Total Other Assets | 1,267,939 | 2,962,754 | ||||||
| Total Assets | $ | 3,576,741 | $ | 9,339,195 | ||||
| Liabilities and Stockholders’ Equity: | ||||||||
| Current Liabilities | ||||||||
| Accounts payable | $ | 547,421 | $ | 821,081 | ||||
| Accrued expenses (Note 7) | 453,713 | 948,554 | ||||||
| Operating lease liability – current portion | 54,711 | 163,834 | ||||||
| Notes payable and accrued interest-current portion (Note 8) | 321,447 | 312,865 | ||||||
| Convertible notes payable and accrued interest, net of debt discount of $0 and $149,644 (Note 9) | - | 1,622,377 | ||||||
| Derivative liabilities | - | 448,089 | ||||||
| Total Current Liabilities | 1,377,292 | 4,316,800 | ||||||
| Other Liabilities | ||||||||
| Operating lease liabilities (net of current portion) | - | 797,705 | ||||||
| Notes payable and accrued interest (net of current portion) (Note 8) | - | 5,442 | ||||||
| Total Other Liabilities | - | 803,147 | ||||||
| Total Liabilities | 1,377,292 | 5,119,947 | ||||||
| Commitments and Contingencies (see Note 11) | ||||||||
| Stockholders’ Equity: (Note 13) | ||||||||
| Preferred stock, par value $0.001 per share, 20,000,000 shares authorized: | ||||||||
| Series A Preferred stock: 0 and 3,045,000 shares issued and outstanding at March 31, 2026 and 2025 | - | 3,045 | ||||||
| Series B Preferred stock: 5,000,000 shares issued and outstanding at March 31, 2026 and 2025 | 5,000 | 5,000 | ||||||
| Common stock, par value $0.001 per share, 250,000,000 shares authorized, 35,849,919 and 24,181,537 shares issued and outstanding at March 31, 2026 and 2025 | 35,850 | 24,182 | ||||||
| Common stock to be issued | 649,750 | - | ||||||
| Additional Paid-In Capital | 103,584,614 | 95,385,511 | ||||||
| Accumulated Deficit | (102,075,765 | ) | (91,198,490 | ) | ||||
| Total Stockholders’ Equity | 2,199,449 | 4,219,248 | ||||||
| Total Liabilities and Stockholders’ Equity | $ | 3,576,741 | $ | 9,339,195 | ||||
