PetLynx has recorded an annual peak in recovery activities each July which is consistent with anecdotal information from industry sources. Since moving into commercial production in May of 2006, registration activities have also recorded higher levels during the four months from June to September.
Automated recoveries in July came in at 4,683 which is up 22% from 3,832 in 2008 and up 131% from 2,021 in January 2009. Registrations in July came in at 6,606 which is up 27% from 5,197 in 2008 and up 84%from 3,588 in January 2009.
Another interesting metric is the relationship between recovery episodes and registrations, the V2 recovery rate. In 2008 there were 0.737 recoveries for each registration in July. In 2009 there were 0.709 recoveries for each registration during July. One interpretation of this trend is that there are more registrations coming from marketing programs than there are from the recovery services. As new point of market entry [POME] programs come into production one might expect this gap to widen. Essentially, we believe this means more animals are being registered based on the value proposition and reputation of the PetLynx Automated Recovery Service than are being registered because of an active recovery episode.
The PetLynx system automatically handled 124,093 recovery episodes to the end of July 2009, which provides a V1 recovery rate of 94%. PetLynx continues to lead the industry by a substantial margin in both the V1 and V2 metric and for this reason maintains a significant competitive advantage.
