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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Total net sales $ 328,941 $ 314,547 $ 637,384 $ 605,018
Total cost of sales 240,658 240,668 474,558 468,879
Gross profit 88,283 73,879 162,826 136,139
Operating expenses        
Selling, general and administrative expenses 60,082 55,159 110,291 98,486
Impairment and other asset charges 2,620 0 2,620 0
Operating income 25,581 18,720 49,915 37,653
Interest expense, net 9,254 8,824 18,360 17,556
Other (income) expense, net (24) 151 (150) 123
Total other expense, net 9,230 8,975 18,210 17,679
Pretax net income 16,351 9,745 31,705 19,974
Income tax expense (885) (192) (1,212) (640)
Net income 15,466 9,553 30,493 19,334
Net income attributable to non-controlling interest 144 85 264 167
Net income attributable to PetIQ, Inc. $ 15,322 $ 9,468 $ 30,229 $ 19,167
Net income per share attributable to PetIQ, Inc. Class A common stock        
Basic (in dollars per share) $ 0.52 $ 0.32 $ 1.03 $ 0.66
Diluted (in dollars per share) $ 0.49 $ 0.32 $ 0.96 $ 0.66
Weighted Average shares of Class A common stock outstanding        
Basic (in shares) 29,534,000 29,136,000 29,408,000 29,083,000
Diluted (in shares) 34,940,000 29,373,000 34,949,000 29,218,000
Products        
Total net sales $ 291,200 $ 278,167 $ 568,091 $ 537,160
Total cost of sales 212,650 210,428 421,713 411,330
Services        
Total net sales 37,741 36,380 69,293 67,858
Total cost of sales $ 28,008 $ 30,240 $ 52,845 $ 57,549