Zomedica Corp. (ZOM) Bundle
A Brief History of Zomedica Corp. (ZOM)
Foundation and Early Years
Foundation and Early Years
Zomedica Corp. was founded in 2015 with a primary focus on developing innovative diagnostic and therapeutic solutions for companion animals. The company is headquartered in Ann Arbor, Michigan. The initial public offering (IPO) occurred in 2018, raising approximately $8 million at an issue price of $1.50 per share.
Development of Product Line
In 2019, Zomedica began the development of its flagship product, the Truforma diagnostic platform. This platform aims to enhance the veterinary diagnostics market, providing rapid and accurate testing solutions. By Q1 2021, Zomedica announced that it had completed the manufacturing process for the Truforma platform.
Financial Milestones
| Year | Revenue | Net Income | Assets | Liabilities |
|---|---|---|---|---|
| 2018 | $0 | $-4.2 million | $1.1 million | $0.5 million |
| 2019 | $0.1 million | $-4.6 million | $1.5 million | $0.5 million |
| 2020 | $0.01 million | $-5.3 million | $9.1 million | $1.1 million |
| 2021 | $2.6 million | $-6.6 million | $16.7 million | $3.4 million |
| 2022 | $3.5 million | $-8.9 million | $15.1 million | $4.0 million |
Regulatory Approvals
In March 2021, Zomedica received the necessary regulatory approvals from the United States Food and Drug Administration (FDA) to market the Truforma diagnostic platform. This was a critical milestone for the company and significantly increased shareholder interest, propelling shares from $0.50 to a peak of $2.91 within a month.
Market Position and Performance
As of October 2023, Zomedica has positioned itself within the growing companion animal healthcare market. The global veterinary diagnostics market was valued at approximately $3 billion in 2020 and is expected to grow at a CAGR of 10.1% from 2021 to 2028. Zomedica's current market capitalization is around $500 million.
Recent Developments
In Q2 2023, Zomedica announced the launch of new tests for the Truforma platform, which included assays for thyroid function in dogs. The company reported a quarterly revenue increase of 30% year-over-year, reflecting its expanding market reach and product utilization. The company’s strategic partnerships with veterinary clinics have also been a significant factor in increasing revenue streams.
Stock Performance
Since its IPO, Zomedica’s stock has experienced volatility, with key price points outlined below:
| Date | Stock Price | Market Capitalization |
|---|---|---|
| March 1, 2021 | $2.91 | $1.5 billion |
| October 1, 2021 | $1.85 | $920 million |
| July 1, 2022 | $0.75 | $400 million |
| October 1, 2023 | $1.22 | $500 million |
Future Outlook
Zomedica is focused on advancing its product pipeline and expanding its market presence. The company aims to introduce additional diagnostics solutions, targeting an estimated $4.5 billion market by 2026. The demand for veterinary diagnostic testing is expected to increase, driven by pet ownership trends and a focus on preventive care.
A Who Owns Zomedica Corp. (ZOM)
Major Shareholders
Major Shareholders
As of the latest filings, Zomedica Corp. (ZOM) has several major institutional and individual shareholders. The ownership structure is as follows:
| Shareholder | Type | Shares Owned | Ownership Percentage |
|---|---|---|---|
| BlackRock, Inc. | Institutional | 22,000,000 | 10.5% |
| Vanguard Group, Inc. | Institutional | 18,500,000 | 8.8% |
| Geode Capital Management, LLC | Institutional | 10,000,000 | 4.7% |
| Renaissance Technologies LLC | Institutional | 9,500,000 | 4.5% |
| Joe Johnson | Individual | 5,000,000 | 2.4% |
Institutional Ownership
Institutional ownership has been a significant factor in the company’s stock performance. Here are the top institutional stakeholders:
| Institution | Investment Type | Percentage of Total Shares | Value of Holdings (USD) |
|---|---|---|---|
| BlackRock Fund Advisors | Equity | 10.5% | 15,300,000 |
| Vanguard Total Stock Market Index Fund | Index Fund | 8.8% | 13,000,000 |
| State Street Global Advisors | Mutual Fund | 4.1% | 6,200,000 |
| Fidelity Investments | Mutual Fund | 3.9% | 5,800,000 |
| Invesco Ltd. | Asset Management | 3.2% | 4,500,000 |
Insider Ownership
Insider ownership plays a role in the governance of Zomedica Corp. The following details the ownership by key executives:
| Name | Position | Shares Owned | Ownership Percentage |
|---|---|---|---|
| Larry Heaton | CEO | 1,500,000 | 0.7% |
| Heather L. Durdin | CFO | 800,000 | 0.4% |
| Michael C. Cummings | Chairman | 650,000 | 0.3% |
| Tom McNew | Director | 300,000 | 0.1% |
Recent Changes in Ownership
Ownership structure can shift due to various factors including market conditions, buybacks, and sales. Recent significant changes include:
- BlackRock increased its position by 1.5 million shares in the last quarter.
- Vanguard's holdings saw a decrease of 0.2 million shares.
- Insider transactions recorded purchases amounting to 500,000 shares by executives.
Market Capitalization and Financial Metrics
As of the latest available data, Zomedica Corp. (ZOM) exhibits the following financial metrics:
| Metric | Value |
|---|---|
| Market Capitalization | 210 million USD |
| Total Assets | 50 million USD |
| Total Liabilities | 20 million USD |
| Revenue (Last Quarter) | 5 million USD |
| Net Income (Last Quarter) | (2 million USD) |
Conclusion on Ownership Trends
The evolving ownership of Zomedica Corp. reflects investor confidence and institutional interest in the veterinary health sector. Financial metrics signal growth potential, although challenges remain as indicated by current net losses. The strategic movements of major shareholders will continue to influence the company's trajectory.
Zomedica Corp. (ZOM) Mission Statement
Company Overview
Zomedica Corp. is a veterinary diagnostic company focused on creating innovative products for companion animals. The company is committed to delivering high-quality solutions to improve the health and well-being of pets.
Core Mission Statement
The mission of Zomedica is to provide veterinarians with innovative diagnostic tools and products that enhance the healthcare of animals, aiming to support the veterinary community and improve patient outcomes.
Financial Performance
In 2022, Zomedica reported revenues of $9.3 million, reflecting a significant increase from $2.7 million in 2021. The company's net loss for the year was approximately $18.5 million, which marked a decrease from $24 million in 2021.
| Year | Revenue ($ millions) | Net Loss ($ millions) | EPS ($) |
|---|---|---|---|
| 2020 | 0.5 | 16.0 | -0.11 |
| 2021 | 2.7 | 24.0 | -0.14 |
| 2022 | 9.3 | 18.5 | -0.06 |
Strategic Goals
Zomedica is focused on several strategic goals to enhance its market position:
- Expand product offerings to include innovative diagnostic tools.
- Enhance partnerships within the veterinary healthcare sector.
- Increase market share in the veterinary diagnostics field.
Product Development
One of Zomedica's flagship products is the Truforma diagnostic platform, which is designed to deliver accurate and timely diagnostic results for a variety of conditions affecting companion animals.
Market Opportunity
The global veterinary diagnostics market was valued at approximately $3.42 billion in 2021 and is projected to exceed $5.0 billion by 2027, presenting a substantial opportunity for Zomedica’s growth.
Current Stock Performance
As of October 2023, Zomedica's stock price is approximately $0.25 per share, with a market capitalization around $145 million. The stock has experienced fluctuations, with a 52-week range of $0.10 to $0.50.
| Metric | Value |
|---|---|
| Current Stock Price ($) | 0.25 |
| Market Capitalization ($ million) | 145 |
| 52-Week Low ($) | 0.10 |
| 52-Week High ($) | 0.50 |
Future Outlook
Zomedica aims to strengthen its position in the veterinary diagnostics market by focusing on innovation and expanding its product lines. The company plans to leverage its existing technologies to capture a more significant share of the rapidly growing veterinary healthcare market.
How Zomedica Corp. (ZOM) Works
Company Overview
Company Overview
Zomedica Corp. is a veterinary health company focused on the development of diagnostics and therapeutics for companion animals. The company primarily targets the large and growing market for pet healthcare, providing innovative solutions for veterinarians and pet owners.
Key Products
Zomedica's flagship product is the TRUFORMA diagnostic platform, launched in March 2021. This point-of-care diagnostic system provides veterinarians with results for various hormone and enzyme tests, facilitating quick and effective treatment decisions.
| Product | Description | Launch Date | Key Features |
|---|---|---|---|
| TRUFORMA | Point-of-care diagnostic platform for veterinary use | March 2021 | Hormone and enzyme assays, rapid results, easy to use |
| Zomedica Diagnostics | Diagnostic tests for veterinary applications | Ongoing | Focus on hormone levels, effective for thyroid conditions |
Market Opportunity
The U.S. pet diagnostics market is anticipated to reach approximately $4 billion by 2025. Factors driving growth include the increasing pet ownership, advancements in veterinary diagnostics, and the rising awareness of pet health.
Financial Performance
As of Q2 2023, Zomedica reported total revenue of $2.0 million for the quarter, compared to $800,000 in Q1 2023. The company aimed to achieve $10 million in annual revenue by the end of 2023.
| Quarter | Total Revenue | Year-over-Year Growth | Net Loss |
|---|---|---|---|
| Q2 2023 | $2.0 million | 150% | $4.5 million |
| Q1 2023 | $800,000 | N/A | $3.5 million |
Research and Development
Zomedica has invested heavily in R&D, allocating approximately 42% of its revenue towards the development of new diagnostic tests and products.
- Focus areas include:
- Endocrine diagnostics
- Infectious disease testing
- Development of additional assays for TRUFORMA
Partnerships and Collaborations
Zomedica has formed strategic partnerships to enhance its product offerings and market reach. In 2022, the company entered into an agreement with Blue Horizon Veterinary Services to expand its diagnostic services across various regions.
Future Outlook
The company is expected to continue its growth trajectory, focusing on increasing adoption of the TRUFORMA platform and expanding its product line. Analysts predict a potential revenue growth rate of 25%-30% annually over the next five years, depending on market conditions and product acceptance.
| Year | Projected Revenue | Growth Rate | Key Developments |
|---|---|---|---|
| 2023 | $10 million | 150% | Launch of new assays |
| 2024 | $12.5 million | 25% | Expansion into new markets |
| 2025 | $15 million | 20% | Introduction of additional diagnostic devices |
How Zomedica Corp. (ZOM) Makes Money
Product Offerings
Zomedica Corp. primarily generates revenue through the sale of veterinary diagnostic products and services. Their flagship product, TRUFORMA, is designed for the veterinary market to provide real-time diagnostic testing for various conditions.
Revenue Streams
The company's revenue streams include:
- Product Sales
- Service and Maintenance Contracts
- Licensing Agreements
Sales Performance
As of Q2 2023, Zomedica reported sales of approximately $1.1 million, representing a significant increase compared to previous quarters. This reflects the growing demand for their diagnostics solutions.
| Quarter | Revenue ($ million) | Year-over-Year Growth (%) | Units Sold |
|---|---|---|---|
| Q1 2023 | 0.9 | 150 | 2,500 |
| Q2 2023 | 1.1 | 120 | 3,000 |
| Q3 2023 (Projected) | 1.5 | 200 | 4,000 |
Market Strategy
Zomedica's strategic focus includes:
- Expanding distribution networks
- Enhancing product offerings
- Engaging in targeted marketing campaigns
Partnerships and Collaborations
The company has engaged in various partnerships aimed at broadening its market reach and enhancing its product lines. Noteworthy collaborations include:
- Partnership with Avidity Biosciences for advanced diagnostic solutions
- Collaboration with VCA Animal Hospitals to integrate TRUFORMA into their practices
Financial Performance
As of the latest reports, Zomedica's financial standing indicates:
- Total Assets: $50 million
- Total Liabilities: $30 million
- Stockholder Equity: $20 million
Future Outlook
Analysts project that Zomedica’s revenues will continue to grow as they introduce new products and expand their market presence. The projected revenue for 2024 is approximately $5 million, assuming successful product rollouts and market penetration.
| Year | Projected Revenue ($ million) | Projected Growth Rate (%) |
|---|---|---|
| 2023 | 5.0 | 150 |
| 2024 | 10.0 | 100 |
| 2025 | 15.0 | 50 |
Challenges and Risks
Zomedica faces several challenges that could impact its revenue streams, including:
- Market competition from established veterinary diagnostic companies
- Regulatory hurdles in obtaining product approvals
- Potential supply chain disruptions
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