Zomedica Announces Revenue of $4.1 Million for the Fourth Quarter and 2021; 73.9% gross margin

0

ANN ARBOR, MI /ACCESSWIRE/February 25, 2022/ Zomedica Corp. (NYSE American: ZOM) (“Zomedica” or the “Company”), a veterinary health care company providing diagnostic and therapeutic products for companion animals, today announced fourth quarter revenue and gross margin and the full fiscal year 2021.

Total revenue for the fourth quarter and fiscal year 2021 was $4.1 million, compared to $0 for both periods in 2020. Gross margin was 73.9%. Zomedica ended the year with cash and cash equivalents of $195 million.

PulseVet revenue reached $4.0 million in the fourth quarter of 2021, a 66% increase from its revenue of $2.4 million in the fourth quarter of 2020 as a business autonomous.

TRUEFORM® product revenue reached $73,000 in the fourth quarter of 2021, a 224% increase from its revenue of $22,500 in the third quarter of 2021.

Zomedica’s Form 10-K for 2021 and its full fourth quarter and full year 2021 earnings release will be released on March 1, 2022.

Further information on the company’s progress in 2021 and outlook for 2022 will be provided during a presentation by Zomedica CEO Larry Heaton at the Q1 Virtual Investor Summit when he will highlight the recent acquisition. by Pulse Veterinarian Technologies LLC, his progress with his TRUFORME® range of products and his strategic visions for the Company. The presentation is scheduled for March 8, 2022 at 10:15 a.m. ET, will be simulcast on the web and can be accessed at https://us06web.zoom.us/webinar/register/WN_chEv1Lu6TBqcue43ikU-qw. It will also be archived in the Investors section of the Zomedica website at www.zmedica.com.

Larry Heaton, President and CEO of Zomedica, said, “I am excited about our recent progress and look forward to releasing full details of our fourth quarter and 2021 performance on March 1.stvia our 2021 Form 10-K and accompanying press release, followed by further discussion at the virtual Q1 Summit on March 8.”

About Zomedica

Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company providing diagnostic and therapeutic products for companion animals with a focus on the unmet needs of clinical veterinarians. Zomedica’s innovative medical device and diagnostic product portfolio is designed to improve both patient and practice health. Zomedica’s mission is to provide veterinarians with the ability to increase their productivity and revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.

Follow Zomedica

Notice to readers

Except for statements of historical facts, this press release contains certain forward-looking statements or information (collectively, “forward-looking information” within the meaning of applicable securities laws). Forward-looking information is often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other words similar, or statements that certain events or conditions “may” or “will” and include statements regarding our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Accordingly, there can be no assurance that the actual results achieved will be the same, in whole or in part, as those set forth in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management as of the date the statements are made and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results actuals differ materially from those anticipated in the forward-looking information. information search. Some of the risks and other factors that could cause actual results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will produce the benefits discounted; uncertainty regarding the timing and results of development work and verification and validation studies; uncertainty about the timing and results of marketing efforts, as well as the cost of marketing efforts, including the cost of developing an internal sales force and managing our growth; uncertainty about our ability to successfully integrate and operate the Pulse Vet business; uncertainty about our ability to supply equipment and testing in response to customer demand; uncertainty regarding the cost, adequacy and availability of supplies needed for our operations; uncertainty about the likelihood and timing of required regulatory approvals; the availability and cost of capital; the ability to identify, develop and achieve commercial success for new products and technologies; veterinary acceptance of our products; competition from related products; the level of expenditure necessary to maintain and improve the quality of products and services; technological developments and changes in laws and regulations; our ability to secure and maintain strategic relationships; the performance by our strategic partners of their obligations under our trade agreements, including product manufacturing obligations; risks relating to permits and licenses; risks of intellectual property infringement; risks related to required clinical trials and regulatory approvals; risks related to the safety and effectiveness of our products; the use of our products; protection of intellectual property; risks related to the COVID-19 pandemic and its impact on our business operations generally, including our ability to develop and commercialize our products; and other risk factors disclosed in our filings with the SEC and under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be considered exhaustive.

The forward-looking information contained in this press release is expressly qualified by this cautionary statement. We undertake no obligation to update forward-looking information to conform to actual results or to changes in our expectations, except as required by applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information.

Investor Relations Contact Information

PCG Advisory Group
Kirin Smith, President
[email protected]
+1.646.823.8656

THE SOURCE: Zomedica Corp.

See the source version on accesswire.com:
https://www.accesswire.com/690513/Zomedica-Announces-Fourth-Quarter-and-2021-Revenues-of-41-Million-739-Gross-Margin

Share.

Comments are closed.