Zomedica Corp. (ZOMDF) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced a loss of $0.01, delivering no surprise.Over the last four quarters, the company has not been able to s ...

Zomedica (ZOM) Q1 2025 Earnings Call May 15, 2025 04:30 PM ET Company Participants Jason Westphal - Sr. Director - FP&A, Reporting and M&ALarry Heaton - CEO & DirectorMike Zuehlke - Vice President of Finance & Corporate Controller Operator call is being recorded on Thursday, 05/15/2025. I would now like to turn the conference over to Jason Westfall, Senior Director, FP and A. Please go ahead. Jason Westphal Thank you, operator, and good afternoon, ladies and gentlemen. Welcome to Zometika's first quarter tw ...

Zomedica (ZOM) Q1 2025 Earnings Call May 15, 2025 04:30 PM ET Speaker0 call is being recorded on Thursday, 05/15/2025. I would now like to turn the conference over to Jason Westfall, Senior Director, FP and A. Please go ahead. Speaker1 Thank you, operator, and good afternoon, ladies and gentlemen. Welcome to Zometika's first quarter twenty twenty five earnings results and business update call. Joining me on today's call are Zometika's Chief Executive Officer, Larry Heaton and Mike Zocke, our Vice President ...

EX-99.1 2 zom_ex991.htm PRESS RELEASE EXHIBIT 99.1 Zomedica Announces First Quarter 2025 Financial Results: Revenue of $6.5 Million; 68% Gross Margin, and $65 Million in Liquidity to Support Growth ANN ARBOR, MI / ACCESSWIRE / May 15, 2025 / Zomedica Corp. (OTCQB: ZOMDF) ("Zomedica" or the "Company"), a veterinary health company offering point-of-care diagnostic and therapeutic products for equine and companion animals, today reported consolidated financial results for the first quarter ended March 31, 2025 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File Number: 001-38298 Zomedica Corp. (Exact name of registrant as specified in its charter) Alberta, Canada N/A (S ...

Revenue Growth - Zomedica reported record revenue of $7.9 million for Q4 2024, an 8% organic growth compared to Q4 2023, with a 109% increase in the Diagnostics segment driven by the TRUFORMA® product line[4][10] - For the full year 2024, revenue grew over 8% to $27.3 million, up from $25.2 million in 2023, supported by 4% growth in Therapeutics and 77% growth in Diagnostics[7][10] Financial Performance - Gross margin for Q4 2024 was 70.3%, and for the full year 2024, it was 70.0%, aligning with the company's expectations[5][11] - The net loss for Q4 2024 was $7.2 million, significantly reduced from a net loss of $22.4 million in Q4 2023[5] - Net loss for the year ended December 31, 2024, was $46,942,000, compared to a net loss of $33,638,000 in 2023, representing a 39.5% increase in losses year-over-year[35] - Adjusted non-GAAP EBITDA loss for 2024 was $20.2 million, compared to a loss of $27.7 million in 2023, indicating improved operational efficiency[16][17] - Non-GAAP EBITDA loss for 2024 was $40,701,000, up from $27,691,000 in 2023, indicating a 46.9% increase in EBITDA losses[35] - Adjusted Non-GAAP EBITA loss for 2024 was $20,216,000, compared to $12,767,000 in 2023, reflecting a 58.5% increase in adjusted losses[35] Expenses - Operating expenses for 2024 were $70.1 million, an increase of 16% from $60.6 million in 2023, primarily due to the full-year impact of Qorvo Biotechnologies[12] - Research and development expenses for 2024 were $7.3 million, up from $5.8 million in 2023, reflecting ongoing advancements in product development[13] - Amortization expense increased to $6,441,000 in 2024 from $5,468,000 in 2023, a rise of 17.7%[35] - Impairment expense for 2024 was $16,024,000, significantly higher than $11,683,000 in 2023, marking a 37.5% increase[35] - Stock-compensation expense decreased to $2,778,000 in 2024 from $6,263,000 in 2023, a reduction of 55.7%[35] - Interest income for 2024 was $3,966,000, down from $5,458,000 in 2023, a decline of 27.3%[35] - Proforma adjustments for 2024 totaled $4,461,000, compared to $3,241,000 in 2023, an increase of 38.0%[35] - Depreciation expense rose to $1,545,000 in 2024 from $830,000 in 2023, an increase of 86.5%[35] - Income tax benefit improved to $557,000 in 2024 from $1,331,000 in 2023, a decrease of 58.2%[35] Cash Position - Total cash used during Q4 2024 was approximately $6.5 million, with an adjusted non-GAAP operating cash burn of about $4.2 million[6] - As of December 31, 2024, Zomedica had cash, cash equivalents, and available-for-sale securities totaling $71.4 million[9][18] Future Plans - The company plans to focus on the equine market with new product launches and a distribution agreement for Vetigel® hemostatic gel to drive revenue growth in 2025[3]

Zomedica (ZOM) Q4 2024 Earnings Call March 13, 2025 04:30 PM ET Company Participants Mike Vallie - Managing DirectorLarry Heaton - President & CEOMike Zuehlke - Vice President of Finance & Corporate ControllerScott Jordan - Executive VP of Finance & CFOAndrew Rem - Portfolio Manager Conference Call Participants Robert Leboyer - Senior Biotechnology AnalystRobert Sassoon - Senior Research Analyst Operator Good afternoon, ladies and gentlemen, and welcome to the Zomedica Fourth Quarter twenty twenty four Fina ...

Financial Performance - For the fiscal year ended December 31, 2024, the Company reported revenue of $27,285 million, an increase of $2,099 million or 8% compared to $25,186 million in 2023 [251]. - The gross profit margin for the year ended December 31, 2024 was 70%, up from 69% in 2023, primarily due to cost reductions from restructuring actions and increased unit sales [256]. - Net loss for the year ended December 31, 2024 was $46,982 million, an increase of $12,453 million or 36% compared to a net loss of $34,529 million in 2023 [265]. - Cash used in operating activities for the year ended December 31, 2024 was $23,630 million, an increase of $7,655 million or 48% from $15,975 million in 2023 [268]. - Cash provided by investing activities increased significantly to $17,854 million for the year ended December 31, 2024, compared to $1,577 million in 2023, a change of $16,277 million or 1032% [269]. - The Company had an accumulated deficit of $217,915 million as of December 31, 2024, and working capital of $72,442 million [271]. Impairment and Tax - The company reported total impairment charges of $16,024, primarily related to goodwill associated with certain reporting units due to changes in future sales growth projections and operating expenses allocation [236]. - The Company recorded a goodwill impairment charge of $16,024 million for the six months ended June 30, 2024, driven by changes in future sales growth projections [237]. - The company has recorded a full valuation allowance against its Canadian deferred tax assets due to uncertainty in realizing tax benefits [217]. - As of December 31, 2024, the company had net operating loss carryforwards of $16,044 for U.S. federal and state income tax purposes, and non-capital loss carryforwards of $6,419 for Canada, which will begin to expire in fiscal year 2039 [215]. Product Portfolio and Development - The product portfolio includes six platforms: TRUFORMA, TRUVIEW, VETGuardian, PulseVet, Assisi Loop, and VETIGEL, focusing on diagnostics and therapeutic medical devices [202][205]. - The TRUFORMA platform provides point-of-care diagnostic products for dogs, cats, and horses, enabling quicker disease diagnosis and treatment [206]. - The VETGuardian platform offers continuous wireless monitoring of pets' vital signs, assisting veterinarians in rapid diagnosis [206]. - The PulseVet platform delivers non-invasive electro-hydraulic shock wave treatment for various conditions, promoting healing and reducing the need for surgery [206]. - The company is focused on leveraging its acquisition of Qorvo for new assay development within the TRUFORMA platform and exploring new market opportunities [213]. - Research and development expenses increased by $1,524 million or 27% to $7,268 million for the year ended December 31, 2024, driven by the development of next-generation diagnostic products [260]. Operating Expenses - Selling and marketing expenses rose by $3,055 million or 22% to $17,192 million for the year ended December 31, 2024, primarily due to increased hiring campaigns [262]. Climate Change Impact - The company anticipates that climate change may increase operating costs due to potential physical risks and supply chain impacts [283]. - The company is unable to predict the future impact of climate change due to significant economic variability associated with changing conditions [283]. Public Company Costs - The company faces costs associated with being a public company and expenses related to business development or mergers and acquisitions [279]. Stock Information - As of March 13, 2025, there are 979,949,668 common shares issued and outstanding [279]. - There are stock options outstanding under the Stock Option Plan to acquire an aggregate of 89,051,943 common shares [279]. - Common share purchase warrants issued in February 2020 allow holders to acquire 197,917 common shares at an exercise price of $0.1500 per share [279]. - Common share purchase warrants issued in July 2022 allow holders to acquire 363,501 common shares at an exercise price of $0.1500 per share [279]. - Additional common share purchase warrants issued in July 2022 allow holders to acquire 10,000,000 common shares at an exercise price of $0.2201 per share [279]. - Further common share purchase warrants issued in July 2022 allow holders to acquire 22,000,000 common shares at an exercise price of $0.2520 per share [279]. Recent Accounting Pronouncements - Recent accounting pronouncements are not expected to have a material impact on the company's consolidated financial statements upon adoption [278].

Revenue Performance - Revenue for Q3 2024 increased by slightly more than 10% to $7.0 million compared to Q3 2023, with Diagnostics segment revenue growing by 38%[4] - Capital revenues reached $2.2 million, up 21% from Q3 2023, indicating strong performance in the therapeutic device segment[5] - The company anticipates significant incremental revenue growth in 2025 and beyond due to its international expansion efforts[3] Financial Metrics - Gross margin for Q3 2024 was 72.3%, exceeding the company's expectations of 65% to 70%[8] - Total cash used during Q3 2024 was approximately $5.2 million, with non-GAAP operating cash burn adjusted to approximately $4.0 million[6] - As of September 30, 2024, Zomedica had cash and cash equivalents of $77.8 million, down from $83.0 million as of June 30, 2024[11] - Net loss for Q3 2024 was $6.7 million, compared to a net loss of $0.5 million in Q3 2023, which included a one-time gain of $2.2 million[10] Research and Development - Research and development expenses increased to $1.8 million in Q3 2024, driven by advancements in new assay development[9] Market Expansion - The company signed several international distribution agreements and received CE Mark approval for the TRUVIEW® system, enhancing its global market presence[3] - Zomedica's total addressable market in the U.S. exceeds $2 billion, indicating substantial growth potential[14]

Financial Data and Key Metrics Changes - Total revenue for Q3 2024 was $7 million, reflecting a 10.2% increase year-over-year, marking the 14th consecutive quarter of record revenue [6][31] - Gross margin improved to 72.3%, exceeding the previously stated target range of 65% to 70% and higher than last year's 69% [35] - Net loss for the quarter was $6.7 million, compared to a net loss of $491,000 in the prior year, which included a one-time gain of approximately $2.2 million [38] Business Line Data and Key Metrics Changes - Therapeutic device revenue increased by 8.5% year-over-year, driven by a 24% increase in PulseVet sales [7][33] - Diagnostics segment revenue grew by 38%, primarily due to an 80% increase from the TRUFORMA platform [10][34] - Consumable revenue was $4.8 million, a 6% increase, with a 27% growth excluding Assisi products [32] Market Data and Key Metrics Changes - International sales accounted for approximately 18% of total revenue in Q3, with year-to-date sales outside North America up nearly 21.5% [74] - The company noted that macroeconomic factors, particularly interest rates, had a minimal impact on capital sales in Q3 [71] Company Strategy and Development Direction - The company is focusing on international market expansion, having secured CE Marking for all products, allowing sales in the EU and other countries [11][13] - Plans to increase sales presence in 2025 include creating new positions focused on corporate accounts and capital sales [50] - The company aims to achieve cash flow breakeven at an annualized revenue of $50 million, with a target of reaching this level by 2026 [59][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued revenue growth across all product segments, with expectations for accelerated growth in international markets [52][74] - The company is optimistic about maintaining high gross margins and reducing operating expenses as a percentage of revenue [56][68] Other Important Information - The company ended Q3 with $77.8 million in cash and cash equivalents, indicating strong liquidity to support growth initiatives [40] - A new automated robotic manufacturing line has been installed to improve production efficiency [27] Q&A Session Summary Question: Outlook for growth in 2025 - Management expects growth to accelerate in 2025, with plans to increase sales presence and fill open positions [50][52] Question: Trends in operating expenses - Management anticipates that operating expenses as a percentage of revenue will continue to decline, despite some one-time items in the current quarter [55][56] Question: Risk of delisting due to stock price - There is a risk of delisting if the stock price remains below $0.20, but management believes they can maintain their listing [64] Question: Potential funding sources if cash runs low - Management does not foresee a need for additional funding, given their current liquidity and declining cash burn [66][68]