Revenue Growth - Zomedica reported record revenue of 7.3millionforQ42023,a1925.2 million, reflecting a 33% annual growth[1][3][4]. - The Diagnostics segment experienced a remarkable 144% growth year-over-year in Q4 2023, while the Therapeutic Devices segment grew by 16%[3][4]. - Consumable revenue for Q4 2023 reached 4.0million,up263.3 million, a 12% increase over the same period[3]. - Zomedica expects full-year 2024 revenue to be in the range of 31to35 million, representing approximately 40% growth at the high end compared to 2023[8]. Financial Performance - The net loss for 2023 was 34.5million,or0.035 per share, compared to a net loss of 17.0million,or0.017 per share, in 2022[12]. - Non-GAAP Adjusted EBITDA for the period was (22.326)million,comparedto(3.200) million in the previous year, indicating a significant increase in losses[24]. - The net loss for the company was (23.931)million,comparedto(5.249) million in the same period last year, reflecting a worsening financial performance[24]. - The company reported a loss from operations of (25.067)million,comparedto(5.742) million in the prior year, indicating challenges in operational efficiency[24]. - The company experienced a foreign exchange loss of (46)thousand,whichmayaffectoverallfinancialperformance[24].Expenses−Researchanddevelopmentexpensesincreasedby1235.7 million in 2023, driven by the expansion of internal capabilities for new diagnostic products[10]. - Selling and marketing expenses rose by 43% to 14.1millionin2023,reflectingincreasedhiringandmarketingefforts[11].−Generalandadministrativeexpenseswerereportedat6.893 million, slightly up from 6.850million,indicatingstableoperationalcosts[24].−Researchanddevelopmentexpensesincreasedto1.506 million from 0.859millionyear−over−year,showingafocusoninnovationandproductdevelopment[24].−Sellingandmarketingexpensesroseto3.923 million from 3.081million,reflectingincreasedinvestmentinmarketexpansion[24].GrossMarginandProfitability−GrossmarginforbothQ42023andthefullyear2023was694.367 million, compared to 1.078millioninthepreviousyear,demonstratingimprovedrevenuegeneration[24].AcquisitionsandCashPosition−Thecompanymademultipleacquisitionsin2023,includingStructuredMonitoringProducts,Inc.andQorvoBiotechnologies,LLC,enhancingitsproductportfolioandmanufacturingcapabilities[2][6][7].−Zomedica′scash,cashequivalents,andavailable−for−salesecuritiestotaled100.5 million as of December 31, 2023[5]. Non-GAAP Measures - Management emphasizes the importance of non-GAAP measures for evaluating ongoing operations and financial trends[22]. - Non-GAAP EBITDA, which excludes certain expenses, was $(22.326) million, highlighting the impact of non-recurring costs on financial results[23].
Zomedica (ZOM)2024-08-14 21:01