Zomedica Corp. develops and commercializes animal-health diagnostic and therapeutic device products for equine and companion-animal care. Company news commonly covers expansion of the TRUFORMA point-of-care diagnostic menu, including equine endocrine and reproductive assays, and updates for therapeutic brands such as PulseVet, Assisi, Calmer Canine, EquiLoop, and VETIGEL.
Recurring updates also address product launches, veterinary monitoring technology such as the VETGuardian Zero Touch monitor, distribution arrangements for international markets, investor webinars, financial results, and the development-services segment tied to engineering, contract manufacturing, and intellectual-property licensing.
Zomedica Corp. (NYSE American: ZOM) reported a strong first quarter, with a 38% year-over-year revenue growth and maintaining 74% gross margins. Cash burn decreased to $2.6 million, with $192 million in cash remaining. The sales force launch of the PulseVet product saw a 500% increase in revenue. The company focuses on enhancing veterinary workflow and profitability through innovative diagnostic and therapeutic products, with strategic plans for market penetration and acquisitions.
Zomedica (NYSE American: ZOM) reported consolidated financial results for Q1 2022, showing significant growth in revenue to $3.8 million, compared to $14,000 in Q1 2021. The gross margin improved to 74% from 60%, driven largely by the PulseVet platform, which recorded $3.7 million in revenue. Unit sales to small animal veterinarians surged 500% year-over-year. However, the company posted a net loss of $3.9 million for the quarter. As of March 31, 2022, Zomedica had $192.3 million in cash and equivalents.
Zomedica Corp. (NYSE American:ZOM) announced its one-year sponsorship of the American Association of Feline Practitioners (AAFP) to enhance feline veterinary care. This partnership aims to support cat practitioners by providing tools, resources, and quality service to improve feline health. Zomedica’s innovative product portfolio includes the TRUFORMA biosensor testing platform and PulseVet system for treating osteoarthritis in cats. The AAFP's upcoming conference will focus on enriching feline care, showcasing Zomedica's commitment to advancing veterinary practices.
Zomedica Corp. (NYSE American:ZOM), a veterinary health company, will present a strategic update and discuss its first quarter 2022 earnings at the H.C. Wainwright Global Investment Conference on May 24, 2022, at 11:30 AM ET. CEO Larry Heaton will lead the presentation, which will be available via webcast and later on Zomedica's website. Focused on creating innovative diagnostics and medical devices for companion animals, Zomedica aims to support veterinarians in enhancing productivity and revenue while improving animal care.
Zomedica Corp. (NYSE American: ZOM) announced that its PulseVet system has been designated as the Official Shock Wave Therapy of the American Quarter Horse Association (AQHA). This system leverages electro-hydraulic shock wave technology to treat various conditions in veterinary patients, enhancing cell activity for better recovery. The partnership aims to provide support for both horses and dogs facing injuries and pain. Zomedica also became an event sponsor of the AQHA world championship shows, emphasizing its commitment to animal care and performance.
Zomedica Corp. (NYSE American: ZOM) has launched its new eACTH assay for the TRUFORMA In-Clinic Biosensor Testing Platform. This assay enables veterinarians to quickly differentiate between pituitary and adrenal dependent Cushing's syndrome in dogs, addressing a major gap in diagnostic accessibility. The assay is available for shipment as of April 4, 2022, directly from Zomedica, promising to enhance diagnostics and improve practice health for veterinarians.
Zomedica Corp. (NYSE American: ZOM) reported its financial results for the year ended December 31, 2021. The company achieved a total revenue of approximately $4.1 million, a significant increase from $0 in 2020, primarily due to the inclusion of PulseVet results. However, Zomedica reported a net loss of approximately $18.4 million or $0.05 per share. Notable increases included TRUFORMA product revenue, which grew by 224%. As of year-end, the company held $195 million in cash and equivalents.
Zomedica Corp. (NYSE American: ZOM) reported total revenue of $4.1 million for the Fourth Quarter and Full Year 2021, a significant increase from $0 in 2020. The gross margin was an impressive 73.9%. Revenue from PulseVet reached $4.0 million, marking a 66% growth over the previous year. Meanwhile, TRUFORMA product revenue rose by 224% to $73,000 compared to Q3 2021. The company ended the year with $195 million in cash and equivalents. A detailed Form 10-K report will be released on March 1, 2022, followed by a presentation on March 8, 2022.
Zomedica Corp. (NYSE American: ZOM) announces Adrian Lock as the new leader of its sales organization. Lock, previously the CEO of PulseVet, brings a decade of experience in veterinary sales, particularly in equine sports medicine. He aims to enhance Zomedica's sales team while focusing on the growth of the Truforma in-clinic biosensor platform and PulseVet shock wave therapy. CEO Larry Heaton supports this move, highlighting Lock's track record in building sales in the equine market and the potential for expansion into the small animal market.
Zomedica Corp. (NYSE: ZOM) announced key additions to its management team, aiming to bolster future growth. Tony Blair joins as Executive Vice President of Operations, bringing over 35 years of experience, while Kristin Domanski has been appointed as Vice President of Human Resources, focusing on HR excellence. Nicole Westfall will lead marketing efforts as Vice President of Marketing, leveraging her 25 years in the field. Evan Saint-Peter has been promoted to Vice President of Technology Innovation. CEO Larry Heaton expressed confidence in the new team to enhance Zomedica's product offerings and growth strategies.