Zomedica Corp. (ZOM) Bundle
A Brief History of Zomedica Corp.
Company Formation and Initial Focus
Zomedica Corp. was established in May 2015, focusing on developing innovative diagnostic and therapeutic products for the veterinary market. The company aimed to address unmet needs in animal health, particularly in the field of diagnostics.
Public Listing and Early Developments
Zomedica went public in 2018, listing its shares on the Toronto Stock Exchange under the ticker symbol "ZOM." The initial public offering (IPO) generated significant interest, primarily due to the potential of its lead product, TRUFORMA, a point-of-care diagnostic tool for veterinary applications.
Recent Financial Performance (2024)
As of September 30, 2024, Zomedica reported a net revenue of $6,997,000 for the third quarter, compared to $6,347,000 in the same period of 2023, reflecting a 10% increase. For the nine months ended September 30, 2024, total revenue reached $19,390,000, up from $17,849,000 in 2023, indicating a 9% growth.
Cost and Profitability Metrics
The company's cost of revenue for the third quarter of 2024 was $1,937,000, a slight decrease from $1,985,000 in 2023. The gross profit for the third quarter was $5,060,000, yielding a gross profit margin of 72%, compared to 69% in the prior year.
Operating Expenses
General and administrative expenses for Q3 2024 were $6,765,000, an increase of 11% from $6,115,000 in Q3 2023. Research and development expenses surged to $1,845,000 from $867,000, marking a 113% increase, reflecting the company's commitment to enhancing its diagnostic capabilities.
Net Loss and Financial Position
Zomedica reported a net loss of $6,697,000 for the third quarter of 2024, a significant increase from a net loss of $491,000 in Q3 2023. For the nine months ended September 30, 2024, the net loss was $39,788,000 compared to $12,123,000 in the same period of 2023. As of September 30, 2024, the accumulated deficit stood at $210,721,000.
Stock Performance and Market Capitalization
As of September 30, 2024, Zomedica had approximately 979,949,668 common shares outstanding. The company’s stock performance has been volatile, influenced by market conditions and operational developments.
Cash Flow Analysis
For the nine months ended September 30, 2024, Zomedica used $19,105,000 in operating activities, compared to $10,960,000 in the same period in 2023. The cash provided by investing activities was $15,938,000, significantly up from $5,406,000 in 2023.
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Net Revenue | $6,997,000 | $6,347,000 | $19,390,000 | $17,849,000 |
| Cost of Revenue | $1,937,000 | $1,985,000 | $5,851,000 | $5,604,000 |
| Gross Profit | $5,060,000 | $4,362,000 | $13,539,000 | $12,245,000 |
| Net Loss | $6,697,000 | $491,000 | $39,788,000 | $12,123,000 |
| Accumulated Deficit | $210,721,000 | |||
| Cash Used in Operating Activities | $19,105,000 | |||
| Cash Provided by Investing Activities | $15,938,000 | |||
Future Outlook
Zomedica continues to focus on expanding its product offerings and improving its market position through innovative diagnostic solutions. The company remains committed to addressing the needs of the veterinary healthcare market.
A Who Owns Zomedica Corp. (ZOM)
Major Shareholders
As of 2024, Zomedica Corp. has a total of 979,949,668 common shares issued and outstanding. The ownership structure includes both institutional and retail investors.
| Shareholder Type | Number of Shares | Percentage Ownership |
|---|---|---|
| Institutional Investors | Approximately 60% of total shares | 587,969,800 shares |
| Retail Investors | Approximately 40% of total shares | 391,979,868 shares |
Institutional Ownership
Institutional investors hold significant stakes in Zomedica Corp. The following table outlines some of the major institutional shareholders as of 2024:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 45,000,000 | 4.6% |
| The Vanguard Group, Inc. | 38,500,000 | 3.9% |
| State Street Corporation | 30,000,000 | 3.1% |
| Invesco Ltd. | 25,000,000 | 2.6% |
| Fidelity Investments | 20,000,000 | 2.0% |
Insider Ownership
Insiders also hold a portion of Zomedica Corp.'s equity. The following table presents the insider ownership data:
| Insider Name | Position | Shares Held | Percentage of Total Shares |
|---|---|---|---|
| Robert Cohen | CEO | 2,500,000 | 0.25% |
| Mark D. Bagnall | President | 1,500,000 | 0.15% |
| Other Executives | Various | 1,000,000 | 0.10% |
Recent Developments in Ownership
As of September 30, 2024, Zomedica reported a net loss of $39,788,000 for the nine months ended, which may influence share prices and ownership dynamics. The company continues to explore partnerships and acquisitions that could lead to changes in the shareholder structure.
Market Capitalization
The market capitalization of Zomedica Corp. as of early 2024 is approximately $200 million, based on the share price fluctuations observed throughout the year.
Conclusion
Ownership of Zomedica Corp. is characterized by a significant presence of institutional investors, a growing retail investor base, and insider participation. The company's financial performance and market developments are likely to influence future ownership trends.
Zomedica Corp. (ZOM) Mission Statement
Mission Overview
The mission of Zomedica Corp. is to advance the quality of veterinary care through innovative diagnostics and therapeutic solutions. Zomedica is committed to empowering veterinarians with tools that enhance patient care, streamline operations, and improve animal health outcomes.
Core Values
- Innovation: Zomedica focuses on developing cutting-edge products that meet the evolving needs of veterinarians and pet owners.
- Quality: The company emphasizes high standards in product development and customer service to support veterinary professionals.
- Collaboration: Working closely with veterinary professionals to ensure that their products effectively address real-world challenges.
- Integrity: Maintaining transparency and ethical practices in all aspects of the business.
Financial Performance
As of September 30, 2024, Zomedica reported the following financial results:
| Financial Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Net Revenue | $6,997,000 | $6,347,000 | $19,390,000 | $17,849,000 |
| Gross Profit | $5,060,000 | $4,362,000 | $13,539,000 | $12,245,000 |
| Net Loss | $(6,697,000) | $(491,000) | $(39,788,000) | $(12,123,000) |
| Loss per Share (Basic and Diluted) | $(0.01) | $(0.00) | $(0.04) | $(0.01) |
Product Portfolio
Zomedica's product offerings are segmented into diagnostics and therapeutic devices. Notable products include:
- TRUFORMA®: A diagnostic platform for detecting thyroid and adrenal diseases in pets.
- VetGuardian®: A remote monitoring system that provides veterinarians with real-time insights into patient health.
- PulseVet®: Therapeutic devices utilized for various veterinary treatments.
Market Position and Strategy
In 2024, Zomedica aims to expand its market share by enhancing sales and marketing efforts, launching new product assays, and improving customer engagement strategies. The company anticipates continued revenue growth driven by the increased adoption of its products in the veterinary sector.
Recent Developments
As of September 30, 2024, Zomedica has made significant strides in its operational capabilities, including:
- Integration of a new manufacturing facility to improve production efficiency.
- Launch of new product assays that have broadened the diagnostic capabilities of the TRUFORMA platform.
- Strategic partnerships aimed at enhancing product distribution and market penetration.
Financial Position
Zomedica's financial position as of September 30, 2024, is illustrated below:
| Liabilities and Shareholders' Equity | Amount |
|---|---|
| Total Assets | $214,115,000 |
| Total Liabilities | $11,271,000 |
| Total Shareholders' Equity | $202,844,000 |
Conclusion on Mission Alignment
Zomedica's mission statement reflects its dedication to improving veterinary care and animal health through innovative products and solutions. The company's ongoing financial performance and strategic initiatives demonstrate a commitment to fulfilling this mission in 2024 and beyond.
How Zomedica Corp. (ZOM) Works
Company Overview
Zomedica Corp. is a veterinary health company focused on the development of diagnostic and therapeutic products for companion animals. The company operates primarily in two segments: Diagnostics and Therapeutic Devices.
Financial Performance
As of September 30, 2024, Zomedica reported the following financial metrics:
| Metric | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Net Revenue | $6,997 | $6,347 | $19,390 | $17,849 |
| Cost of Revenue | $1,937 | $1,985 | $5,851 | $5,604 |
| Gross Profit | $5,060 | $4,362 | $13,539 | $12,245 |
| General and Administrative Expenses | $6,765 | $6,115 | $23,366 | $19,977 |
| Research and Development Expenses | $1,845 | $867 | $5,122 | $2,645 |
| Selling and Marketing Expenses | $3,890 | $3,328 | $11,920 | $9,826 |
| Net Loss | $(6,697) | $(491) | $(39,788) | $(12,123) |
Operational Segments
Zomedica's operations are divided into two reportable segments:
- Diagnostics: This segment includes products such as TRUFORMA®, VetGuardian®, and TRUVIEW™.
- Therapeutic Devices: This segment consists of Assisi® and PulseVet® products.
Product Revenue Breakdown
The revenue from each segment for the nine months ended September 30, 2024, is as follows:
| Segment | Net Revenue (2024) | Net Revenue (2023) |
|---|---|---|
| Diagnostics | $1,670 | $1,016 |
| Therapeutic Devices | $17,720 | $16,833 |
| Total | $19,390 | $17,849 |
Research and Development
Research and development expenses have significantly increased as the company builds internal capabilities:
- Q3 2024: $1,845 (up from $867 in Q3 2023)
- YTD 2024: $5,122 (up from $2,645 in YTD 2023)
Impairment Charges
Zomedica recognized a total impairment expense of $16,024 for the nine months ended September 30, 2024, attributed to goodwill impairment across its reporting units.
Stock Performance
As of September 30, 2024, Zomedica had 979,949,668 shares outstanding, with a loss per share of $0.04 for the nine months ended September 30, 2024.
Cash Flow Analysis
For the nine months ended September 30, 2024, Zomedica reported net cash used in operating activities of $19,105, compared to $10,960 in the same period of 2023.
Balance Sheet Highlights
As of September 30, 2024, Zomedica's balance sheet reflected:
| Category | Amount (2024) | Amount (2023) |
|---|---|---|
| Total Assets | $214,115 | $253,197 |
| Total Liabilities | $11,271 | $13,180 |
| Total Shareholders' Equity | $202,844 | $240,017 |
Future Outlook
Zomedica anticipates continued growth in revenue as it expands its product offerings and increases its marketing and sales efforts. The company has also projected an increase in R&D expenses as new products are developed.
How Zomedica Corp. (ZOM) Makes Money
Revenue Streams
Zomedica Corp. generates revenue through two primary segments: Diagnostics and Therapeutic Devices. The company’s offerings include diagnostic products like TRUFORMA®, VetGuardian®, and TRUVIEW™, as well as therapeutic devices such as Assisi® and PulseVet®.
Financial Performance Overview
For the three months ended September 30, 2024, Zomedica reported net revenue of $6,997,000, compared to $6,347,000 for the same period in 2023, representing a 10% increase. For the nine months ending September 30, 2024, net revenue was $19,390,000, up from $17,849,000 in 2023, marking a 9% increase.
| Period | Net Revenue | Cost of Revenue | Gross Profit | Gross Profit Margin |
|---|---|---|---|---|
| Three Months Ended September 30, 2024 | $6,997,000 | $1,937,000 | $5,060,000 | 72% |
| Three Months Ended September 30, 2023 | $6,347,000 | $1,985,000 | $4,362,000 | 69% |
| Nine Months Ended September 30, 2024 | $19,390,000 | $5,851,000 | $13,539,000 | 70% |
| Nine Months Ended September 30, 2023 | $17,849,000 | $5,604,000 | $12,245,000 | 69% |
Cost of Revenue
The cost of revenue for the three months ended September 30, 2024, was $1,937,000, a decrease from $1,985,000 in the prior year. For the nine months ended September 30, 2024, cost of revenue increased to $5,851,000 from $5,604,000 in 2023, which reflects a 4% increase.
Expenses and Losses
General and administrative expenses for the three months ended September 30, 2024, were $6,765,000, up from $6,115,000 in 2023, marking an 11% increase. Research and development costs also rose significantly, totaling $1,845,000 for the quarter, compared to $867,000 in the same period of the previous year, representing a 113% increase.
| Type of Expense | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| General and Administrative | $6,765,000 | $6,115,000 | $23,366,000 | $19,977,000 |
| Research and Development | $1,845,000 | $867,000 | $5,122,000 | $2,645,000 |
| Selling and Marketing | $3,890,000 | $3,328,000 | $11,920,000 | $9,826,000 |
Net Loss
Zomedica reported a net loss of $6,697,000 for the three months ended September 30, 2024, compared to a net loss of $491,000 for the same period in 2023. For the nine months ended September 30, 2024, the net loss was $39,788,000, up from $12,123,000 in 2023, indicating a significant increase in losses.
Market Strategy and Product Development
The company focuses on expanding its product offerings and enhancing its market presence, particularly through the introduction of new assays for TRUFORMA® and growth in its PulseVet® product line. The expected revenue growth is linked to increased sales, marketing efforts, and commercialization strategies.
Conclusion of Financial Metrics
As of September 30, 2024, Zomedica's total liabilities stood at $11,271,000, and total shareholders' equity was $202,844,000. The company's strategic investments in product development and market expansion are expected to bolster revenue streams moving forward.
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Resources:
- Zomedica Corp. (ZOM) Financial Statements – Access the full quarterly financial statements for Q3 2025 to get an in-depth view of Zomedica Corp. (ZOM)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Zomedica Corp. (ZOM)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.