Q4 2024 Zomedica Corp Earnings Call Transcript
Key Points
- Zomedica Corp (ZOMDF) reported a record fourth quarter revenue of $7.9 million, marking the 15th consecutive quarter of revenue growth.
- The company has over $70 million in liquidity, indicating a strong financial position with no debt.
- Zomedica Corp (ZOMDF) achieved significant international expansion in 2024, including regulatory approvals and strategic partnerships in Europe and the Middle East.
- The Diagnostics segment saw a 109% year-over-year increase, driven by the adoption of TRUFORMA and VetGuardian products.
- The company launched several new products and assays in 2024, including VETIGEL, which is expected to drive revenue growth in 2025.
- Zomedica Corp (ZOMDF) was delisted from the NYSE American Exchange due to non-compliance with minimum share price requirements.
- The share price has been under significant pressure, impacting investor sentiment despite strong operational performance.
- The Therapeutic Devices segment, including PulseVet, experienced only 4% growth, indicating potential challenges in capital equipment sales.
- The company reported a net loss of $47 million for the year, with a non-GAAP EBITDA loss of $40.7 million.
- There is uncertainty regarding the timeline for achieving profitability and returning to a major exchange listing.
Good afternoon, ladies and gentlemen, and welcome to the Zomedica fourth quarter 2024 financial results conference call. (Operator Instructions) This call is being recorded on Thursday, March 13, 2025. I would now like to turn the conference over to Mr. Mike Vallie from ICR. Please go ahead.
Thank you, operator, and good afternoon, ladies and gentlemen. Welcome to Zomedica's fourth quarter 2024 earnings results and business update call. Joining me on today's call are Zomedica's Chief Executive Officer, Larry Heaton; Scott Jordan, the company's new Executive Vice President and Chief Financial Officer; and Mike Zuehlke, Vice President and Corporate Controller. Before we begin, we would like to remind everyone that on this call, we will be making various remarks about future expectations, plans and prospects that constitute forward-looking statements. These forward-looking statements are based on assumptions, and there are risks that the results may differ materially from those statements.
As such, Zomedica cannot
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