PetIQ, Inc. (NASDAQ: PETQ) was founded in 2012 and is headquartered in Eagle, Idaho, USA. It has 225 full-time employees (9/30/2018). It is a fast-growing veterinary grade pet prescription (“Rx”) drug , Over-the-counter medicines (“OTC”), and flea, ticks and other preventive agents, manufacturers and distributors of health and wellness products for dogs and cats. The business is carried out through its only subsidiary-PetIQ Holdings, LLC.
PetIQ Inc. (PETQ):
PetIQ pioneered the retail channel of pet products, which used to be mainly purchased from veterinary clinics. PetIQ enables its customers to provide pet owners with a convenient, affordable, and selective product portfolio, ranging from well-known domestic brands to company-owned value brand substitutes.
The shift in consumer behavior supports the continued growth of PetIQ: Pet owners are increasingly transferring products previously purchased from veterinary clinics to the channels that PetIQ serves. In addition, pet owners are shifting from previously mainly buying non-veterinary products (previously the only products available in retail channels) to advanced veterinary products sold by PetIQ. PetIQ believes that due to the company’s industry leadership, broad product portfolio, value proposition, and strong customer relationships, the company has the ability to use these changes in consumer behavior to enable the company to achieve sustained growth.
The terminal market served by PetIQ is huge and growing. According to Packaged Facts: In 2016, the sales of pet drugs sold in the United States were estimated to be 7.4 billion U.S. dollars and will reach 8.9 billion U.S. dollars by 2019, with a compound annual growth rate (“CAGR”) ( 2016-2019) reached 6%.
PetIQ’s product portfolio covers a wide range of veterinary grade Rx drugs and leading OTC drugs as well as other health and wellness products. PetIQ provides customers with comprehensive category management solutions and sells products under multiple brands to meet specific channel needs. Brands:
PetIQ believes that the company’s consumer value proposition will drive demand for its products. Pet owners can usually purchase and distribute products from retailers, which can save 20-30% of the cost compared with veterinarians (purchased from places). If it is a proprietary brand product, it can save up to 50%. The proprietary brand includes and distributes The same active ingredients, and both are approved by the Food and Drug Administration (FDA) and Environmental Protection Agency (“EPA”).
PetIQ Inc. (PETQ) investment:
PetIQ, Inc. (NASDAQ:PETQ) submitted its IPO prospectus on 6/23/2017 and listed on NASDAQ on 7/21/2017. The issue price was US$16.00, 6.25 million shares were issued, and US$100 million was raised. Code: PETQ.