Zomedica Reports Record Revenue and Strong Growth

Zomedica Pharma ( (ZOMDF) ) has released its Q4 earnings. Here is a breakdown of the information Zomedica Pharma presented to its investors.

Zomedica Corp., a veterinary health company, specializes in providing point-of-care diagnostic and therapeutic products for equine and companion animals, with a focus on innovative solutions for veterinarians.

Zomedica reported record revenue of $7.9 million for the fourth quarter and $27.3 million for the full year 2024, marking the 15th consecutive quarter of year-over-year revenue growth. The company achieved a gross margin of 70% and maintained a strong liquidity position with $71 million in cash and equivalents.

Key financial highlights include an 8% organic revenue growth in the fourth quarter, driven by a 109% increase in the Diagnostics segment, particularly from the TRUFORMA and VETGuardian product lines. Despite a net loss of $7.2 million in the fourth quarter, this was a significant improvement from the $22.4 million loss in the same period the previous year. For the full year, revenue grew by over 8%, with notable growth in both the Therapeutics and Diagnostics segments.

Looking forward, Zomedica’s management is optimistic about 2025, with plans to expand its product offerings in the equine market and leverage its strong balance sheet to enhance its portfolio. The company aims to continue its growth trajectory by focusing on new product launches and strategic distribution agreements.