Zomedica Reports Record Q3 Revenue and Reduced Losses

Zomedica Corp., based in Ann Arbor, MI, announced record third-quarter revenue of $9.9 million, marking a 22% increase from the previous year. The company has also managed to reduce its net loss by 48%, achieving a significant improvement in its financial performance.

The growth is attributed to strong demand for PulseVet® and Assisi® therapeutic devices and the increased adoption of diagnostic products. The company's development services segment contributed to this success, generating $1.1 million in the quarter.

Operational efficiency has improved, with operating expenses cut by 21% and cash burn reduced to $3.2 million. The therapeutic devices segment continues to deliver strong margins, maintaining gross margins of 64%.

Zomedica's international business and strategic partnerships, including an agreement with Veterinary Study Groups, are anticipated to sustain future growth. The company holds $41 million in liquidity, positioning it well for continued expansion and long-term growth initiatives.