Revenue Performance - Revenue for Q3 2024 increased by slightly more than 10% to $7.0 million compared to Q3 2023, with Diagnostics segment revenue growing by 38%[4] - Capital revenues reached $2.2 million, up 21% from Q3 2023, indicating strong performance in the therapeutic device segment[5] - The company anticipates significant incremental revenue growth in 2025 and beyond due to its international expansion efforts[3] Financial Metrics - Gross margin for Q3 2024 was 72.3%, exceeding the company's expectations of 65% to 70%[8] - Total cash used during Q3 2024 was approximately $5.2 million, with non-GAAP operating cash burn adjusted to approximately $4.0 million[6] - As of September 30, 2024, Zomedica had cash and cash equivalents of $77.8 million, down from $83.0 million as of June 30, 2024[11] - Net loss for Q3 2024 was $6.7 million, compared to a net loss of $0.5 million in Q3 2023, which included a one-time gain of $2.2 million[10] Research and Development - Research and development expenses increased to $1.8 million in Q3 2024, driven by advancements in new assay development[9] Market Expansion - The company signed several international distribution agreements and received CE Mark approval for the TRUVIEW® system, enhancing its global market presence[3] - Zomedica's total addressable market in the U.S. exceeds $2 billion, indicating substantial growth potential[14]

Revenue and Profitability - Revenue for the quarter ended September 30, 2024, included consumables and capital sales associated with Assisi®, PulseVet®, TRUFORMA®, TRUVIEW™, and VetGuardian® products[132] - Revenue for the three months ended September 30, 2024, was $6,997 million, an increase of $650 million or 10% compared to the same period in 2023[169] - Revenue for the nine months ended September 30, 2024, was $19,390 million, an increase of $1,541 million or 9% compared to the same period in 2023[169] - Gross profit margin for the three months ended September 30, 2024, was 72%, compared to 69% for the same period in 2023[173] Expenses - Research and development expense for the three months ended September 30, 2024, was $1,845 million, an increase of $978 million or 113% compared to the same period in 2023[178] - Selling and marketing expense for the three months ended September 30, 2024, was $3,890 million, an increase of $562 million or 17% compared to the same period in 2023[179] - General and administrative expenses included significant public company costs such as stock exchange fees and compliance costs[134] Net Loss and Cash Flow - Net loss for the three months ended September 30, 2024, was $6,697 million, an increase of $6,206 million or 1264% compared to the same period in 2023[182] - Cash used in operating activities for the nine months ended September 30, 2024, was $19,105 million, an increase of $8,145 million or 74% compared to the same period in 2023[184] - Cash provided by investing activities for the nine months ended September 30, 2024, was $15,938 million, an increase of $10,532 million or 195% compared to the same period in 2023[185] Goodwill and Valuation - A goodwill impairment charge of $16,024 was recorded for the three and nine months ended September 30, 2024, due to fair values of certain reporting units being below their carrying amounts[157] - The fair value of the PulseVet reporting unit exceeded its carrying amount, including goodwill, by 56%, while Revo Squared, SMP, and Assisi reporting units were below their carrying amounts by 64%, 80%, and 3%, respectively[156] - The control premium implied from the market capitalization reconciliation analysis was 59.3%, consistent with historical premiums in the Medical, Dental, and Hospital Equipment and Supplies industry[160] Tax and Regulatory Considerations - The company is evaluating the potential impacts of the Inflation Reduction Act, which includes a new 15% Corporate Alternative Minimum Tax for corporations with average book income over $1 billion[140] - The company recorded a full valuation allowance against Canadian deferred tax assets due to uncertainty in realizing tax benefits[142] - The company continues to monitor regulatory developments related to the Inflation Reduction Act to assess their potential impact on tax rates and financial results[141] - Deferred tax assets for U.S. federal income tax purposes amount to $15,214, with non-capital loss carryforwards for Canada at $9,581, expiring in fiscal year 2035[192] Cash Position and Future Needs - As of September 30, 2024, the company had an accumulated deficit of $210,721 and working capital of $79,206[187] - The company believes existing cash is sufficient to cover short-term cash requirements, including fixed obligations and ongoing clinical studies[188] - Long-term cash requirements have not changed materially since the 2023 Form 10-K, with ongoing evaluations potentially affecting cash needs[191] Stock-Based Compensation - Stock-based compensation is calculated using the Black-Scholes Option Pricing Model and is expensed over the vesting period of the options[145] - The company adopted a Stock Appreciation Rights Plan allowing for the grant of SARs up to 10% of issued common stock[196] Research and Development - Research and development expenses focused on leveraging the acquisition of Qorvo for new assay development and exploring new market opportunities[135] Currency and Subsidiaries - The functional currency for the company's subsidiaries in the U.S., Switzerland, and Canada is the U.S. dollar, while the Japanese subsidiary uses the Japanese Yen[143]

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $6.1 million, reflecting a 2% increase year-over-year, primarily driven by a 68% growth in the Diagnostics segment [4][21] - Capital revenues decreased by 12% to $1.7 million, down from $2 million in Q2 2023, attributed to fewer new system sales [21] - Consumable revenue increased by approximately 8% to $4.4 million, now representing 72% of total revenue [21][22] - Gross profit for Q2 2024 was $4.4 million, with a gross profit margin of 71%, slightly above the target range of 65% to 70% [22][23] - Net loss for Q2 2024 was $23.9 million, compared to a net loss of $5.2 million in Q2 2023 [25][26] Business Line Data and Key Metrics Changes - The Therapeutic Devices segment, including PulseVet and Assisi, generated revenues of $5.7 million, roughly flat compared to the prior year [22] - The Diagnostics segment saw revenues of approximately $420,000, marking a 68% increase year-over-year, driven by growth from VetGuardian and TRUFORMA [22] Market Data and Key Metrics Changes - International initiatives are expected to significantly contribute to revenue in the second half of the year, with a strategic alliance with Leader Healthcare Group for distribution in the Middle East, Egypt, and India [7][8] - The company anticipates sales from new distributors in Costa Rica and the Middle East to begin in the current quarter [48] Company Strategy and Development Direction - The company is focused on achieving cash flow and GAAP profitability, with plans to expand its product portfolio and international reach [20][31] - Zomedica aims to leverage alternative pricing and placement models to enhance access for veterinarians, particularly in light of current economic conditions [5][34] - The company is committed to reducing operating expenses while increasing revenue through innovative product offerings [52][54] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing significant progress in commercial and operational milestones despite short-term headwinds [20][31] - The management noted that macroeconomic factors, such as interest rates, may be causing customers to delay purchases [5][34] - The company expects a rebound in sales as the sales force returns to full strength and as macroeconomic conditions stabilize [5][33] Other Important Information - The CFO announced his resignation, and the company is in the process of identifying a replacement [27][28] - The company suspended its previously issued revenue guidance for 2024, with expectations for total revenue to grow compared to the prior year [28] Q&A Session Summary Question: Can you talk about the sales force headwinds in the quarter in a little bit more detail? - Management explained that the sales force faced challenges due to personnel changes and medical leaves, which affected sales productivity [32][33] Question: What are the plans to mitigate future sales force disruptions? - The company has taken steps to ensure additional sales personnel can fill in during medical leaves and has a plan to maintain sales productivity [44] Question: Can you provide insight into the $16 million charge-off? - The CFO clarified that the charge-off primarily relates to goodwill associated with previous acquisitions, with minimal amounts remaining on the balance sheet [40] Question: What is the expected cash burn moving forward? - The CFO indicated that cash burn is expected to be at the high end of the previously stated range of $12 million to $18 million, influenced by revenue performance [41][42] Question: How much of the original revenue guidance was related to international sales? - Management noted that approximately 15% of the revenue was expected to come from international sales, with potential for growth in that area [43] Question: What is the timeline for meaningful sales from recent CE approvals? - Management expects to see initial sales from Costa Rica and the Middle East in the current quarter, with a more significant uptick anticipated in September [47][48]

Revenue Growth - Zomedica reported record revenue of $7.3 million for Q4 2023, a 19% increase compared to Q4 2022, and full-year revenue of $25.2 million, reflecting a 33% annual growth[1][3][4]. - The Diagnostics segment experienced a remarkable 144% growth year-over-year in Q4 2023, while the Therapeutic Devices segment grew by 16%[3][4]. - Consumable revenue for Q4 2023 reached $4.0 million, up 26% from Q4 2022, and capital revenue was $3.3 million, a 12% increase over the same period[3]. - Zomedica expects full-year 2024 revenue to be in the range of $31 to $35 million, representing approximately 40% growth at the high end compared to 2023[8]. Financial Performance - The net loss for 2023 was $34.5 million, or $0.035 per share, compared to a net loss of $17.0 million, or $0.017 per share, in 2022[12]. - Non-GAAP Adjusted EBITDA for the period was $(22.326) million, compared to $(3.200) million in the previous year, indicating a significant increase in losses[24]. - The net loss for the company was $(23.931) million, compared to $(5.249) million in the same period last year, reflecting a worsening financial performance[24]. - The company reported a loss from operations of $(25.067) million, compared to $(5.742) million in the prior year, indicating challenges in operational efficiency[24]. - The company experienced a foreign exchange loss of $(46) thousand, which may affect overall financial performance[24]. Expenses - Research and development expenses increased by 123% to $5.7 million in 2023, driven by the expansion of internal capabilities for new diagnostic products[10]. - Selling and marketing expenses rose by 43% to $14.1 million in 2023, reflecting increased hiring and marketing efforts[11]. - General and administrative expenses were reported at $6.893 million, slightly up from $6.850 million, indicating stable operational costs[24]. - Research and development expenses increased to $1.506 million from $0.859 million year-over-year, showing a focus on innovation and product development[24]. - Selling and marketing expenses rose to $3.923 million from $3.081 million, reflecting increased investment in market expansion[24]. Gross Margin and Profitability - Gross margin for both Q4 2023 and the full year 2023 was 69%[3][5]. - The gross profit for the period was $4.367 million, compared to $1.078 million in the previous year, demonstrating improved revenue generation[24]. Acquisitions and Cash Position - The company made multiple acquisitions in 2023, including Structured Monitoring Products, Inc. and Qorvo Biotechnologies, LLC, enhancing its product portfolio and manufacturing capabilities[2][6][7]. - Zomedica's cash, cash equivalents, and available-for-sale securities totaled $100.5 million as of December 31, 2023[5]. Non-GAAP Measures - Management emphasizes the importance of non-GAAP measures for evaluating ongoing operations and financial trends[22]. - Non-GAAP EBITDA, which excludes certain expenses, was $(22.326) million, highlighting the impact of non-recurring costs on financial results[23].

Financial Performance - Revenue for the three months ended June 30, 2024, was $6,131, an increase of $111, or 2%, compared to $6,020 for the same period in 2023; revenue for the six months ended June 30, 2024, was $12,393, an increase of $891, or 8%[141]. - Gross profit margin for the three months ended June 30, 2024, was 71%, up from 67% in the same period of 2023; however, the gross profit margin for the six months ended June 30, 2024, decreased to 68% from 69%[144]. - Net loss for the three months ended June 30, 2024, was $23,931, an increase of $18,682, or 356%, compared to a net loss of $5,249 for the same period in 2023; for the six months, the net loss was $33,091, an increase of $21,457, or 184%[150]. - Cash used in operating activities for the six months ended June 30, 2024, was $14,309, an increase of $6,376, or 80%, compared to $7,933 for the same period in 2023[152]. Goodwill and Impairment - The company reported a goodwill impairment charge of $16,024 for the three and six months ended June 30, 2024, due to slowed future sales growth projections and increased operating expenses[132]. - The carrying values of goodwill for the PulseVet and Assisi reporting units at June 30, 2024, were $43.4 million and $2.2 million, respectively[134]. - The company evaluates goodwill for impairment annually or when triggering events occur, using qualitative and quantitative analyses to assess fair value[128]. - As of June 30, 2024, the implied control premium for the company's reporting units was 52.0%, consistent with historical premiums in the Medical, Dental, and Hospital Equipment and Supplies industry[135]. Operating Expenses - The company’s operating expenses consist of general and administrative, research and development, and selling and marketing expenses, with significant costs related to public company compliance[113]. - Research and development expenses for the three months ended June 30, 2024, increased by $647, or 75%, totaling $1,506, while for the six months, it increased by $1,500, or 84%, totaling $3,277[147]. - Selling and marketing expenses for the three months ended June 30, 2024, were $3,923, an increase of $842, or 27%, compared to $3,081 for the same period in 2023; for the six months, expenses increased by $1,533, or 24%, totaling $8,030[148]. Tax and Deferred Tax Assets - The company has recorded a full valuation allowance against its Canadian deferred tax assets due to uncertainty in realizing tax benefits as of June 30, 2024[119]. - As of June 30, 2024, the company had deferred tax assets for net operating loss carryforwards of $14,069 million for U.S. federal income tax purposes and $9,581 million for Canada, with expirations beginning in fiscal year 2035[157]. - The company has evaluated the realizability of its deferred tax assets, resulting in a derecognition of $3,814 million, reducing the carryforward to $10,225 million[157]. Internal Controls and Compliance - The company has remediated a material weakness in internal control over financial reporting as of June 30, 2024, which was related to the timeliness and precision of management's review controls around financial projections[165][168]. - The company’s internal control over financial reporting was assessed as effective as of June 30, 2024, following remediation efforts[166]. - The company’s management is responsible for establishing effective internal control over financial reporting to ensure reliability in financial statements[165]. - The company’s disclosure controls and procedures were initially deemed ineffective but have been improved following remediation of identified weaknesses[165]. Strategic Focus and Market Conditions - The company is focused on leveraging its recent acquisition of Qorvo into new assay development for the TRUFORMA® platform, expanding capabilities within existing products, and exploring new market opportunities[114]. - The company continues to monitor the potential impacts of the Inflation Reduction Act, which includes a new 1% excise tax on stock repurchases and a 15% Corporate Alternative Minimum Tax for corporations with average book income over $1 billion[117][118]. - The company acknowledges the uncertain impact of climate change on operations and customer needs, which may lead to increased operating costs and risks[158][159]. - There were no material changes in risk factors from those previously disclosed in the annual report for the year ended December 31, 2023[171]. Customer Contracts and Liabilities - As of June 30, 2024, the estimated value of the Therapeutic Device customer contract liability was $553; a 2% increase in the expected return rate would have reduced sales and customer liability by approximately $61[140]. - The carrying value of the company's Diagnostic instruments was $10,330 as of June 30, 2024; a 25% reduction in estimated revenues would increase the payback period from 2.93 years to 3.81 years[137]. Stock-Based Compensation - Stock-based compensation expense is calculated using the fair value method and is recognized based on the expected vesting of stock-based payment awards[122]. - The company adopted the 2024 Stock Appreciation Rights Plan, allowing for the grant of stock appreciation rights up to 10% of the issued and outstanding shares of common stock[160]. Fair Value Assessment - As of June 30, 2024, the fair value of the PulseVet reporting unit exceeded its carrying amount, including goodwill, by 56%, while the Revo Squared, SMP, and Assisi reporting units had fair values below their carrying amounts by 64%, 80%, and 3%, respectively[132].

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $6.3 million, reflecting over 14% growth compared to Q1 2023, marking the strongest first quarter in company history [7][45] - Gross profit for Q1 2024 was $4.1 million, with a gross profit margin of 66%, aligning with previous guidance of 65% to 70% [51] - Net loss for Q1 2024 was $9.2 million, compared to a net loss of $6.4 million in Q1 2023 [57] Business Line Data and Key Metrics Changes - Capital revenues for Q1 2024 were $2.2 million, up 30% from $1.7 million in Q1 2023, driven by increased device placements in small animal and mixed vet practices [46] - Consumables revenue grew to $4 million, a 7% increase from $3.8 million in Q1 2023, representing 64% of total revenue [48] - Diagnostic segment revenues were approximately $744,000, an 87% increase year-over-year, driven by growth from VetGuardian and TRUFORMA [50] Market Data and Key Metrics Changes - Approximately 14% of revenue is generated from international markets, with plans to expand international commercialization efforts for VetGuardian and TRUFORMA [12] - The company has over 2,000 PulseVet systems in active use across all 50 states in the U.S. and 30 countries globally [14] Company Strategy and Development Direction - The company aims to build an annual run rate of $50 million in revenue by the end of 2025, increasing to over $100 million two years later [38] - Zomedica is focused on expanding its product portfolio through business development and M&A activities, leveraging its strong balance sheet [39] - The company is investing in R&D, with a doubled expenditure of $1.8 million in Q1 2024 compared to $900,000 in Q1 2023 [54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capitalizing on significant market opportunities throughout 2024 and beyond, following a record-setting 2023 [45] - The company expects to achieve cash flow breakeven or profitability when reaching an annual revenue run rate of approximately $50 million, anticipated in late 2025 [60] Other Important Information - The company ended Q1 2024 with $90.9 million in cash and cash equivalents, with a cash burn expected to be between $12 million to $18 million for the year [58][61] - Zomedica has a robust intellectual property portfolio with 201 issued patents and 61 pending patents, which protects its innovative solutions [42][43] Q&A Session Summary Question: How many of your products are approved for overseas sales? - Currently, three products are approved for overseas sales, with potential for more by the end of the quarter [69] Question: Do you expect to show profitability in the near future, especially with your EU approval? - Profitability is expected on a cash flow basis when annual revenue reaches about $50 million, anticipated in late 2025 [70] Question: Will there be a stock buyback? - The company does not plan to initiate a stock buyback, prioritizing cash preservation for operational needs and potential acquisitions [71] Question: Where are most of your customers located? - The company sells products in all 50 states, with a concentration in areas with significant equine activity [73] Question: What is the current cash position and expected low point? - The company ended the quarter with $90.9 million in cash, with a projected low watermark of $65 million to $75 million [76][77]

Revenue Performance - Revenue for Q1 2024 increased by 14% to $6.3 million compared to Q1 2023, driven by 9% growth in Therapeutic Devices and 86% growth in Diagnostics[3] - Net revenue for the three months ended March 31, 2024, was $6,262 million, an increase of 14.2% compared to $5,482 million for the same period in 2023[34] - The company expects full-year 2024 revenue to be between $31 million and $35 million, reflecting a potential increase of approximately 39% at the high end compared to 2023[18] - Zomedica anticipates sequential revenue growth throughout 2024, with the majority expected in the latter half of the year[20] Gross Margin and Profitability - Gross margin for Q1 2024 was 66%, with an adjusted gross margin exceeding 69% when accounting for the QBT acquisition[8] - Gross profit for the same period was $4,117 million, adjusted to $4,383 million after one-time items, compared to $3,835 million in the prior year, reflecting a 14.3% increase[34] - The adjusted non-GAAP EBITDA was reported at a loss of $7,450 million, compared to a loss of $4,125 million in the previous year, indicating increased operational challenges[36] Operating Expenses - Operating expenses rose by 28% to $14.5 million in Q1 2024, with a comparative growth of just over 20% when adjusted for one-time charges[9] - Research and development expenses doubled to $1.8 million, primarily due to the integration of QBT and investments in product compliance and AI enhancements[10] - Research and development expenses were $1,771 million, adjusted to $1,449 million, up from $918 million year-over-year, indicating a significant investment in innovation[34] - Selling and marketing expenses remained stable at $4,107 million, compared to $3,416 million in the previous year, reflecting ongoing marketing efforts[34] Net Loss - Net loss for Q1 2024 was $9.2 million, or $0.01 per share, compared to a net loss of $6.4 million, or $0.007 per share, in Q1 2023[14] - The company reported a net loss of $9,160 million for the quarter, adjusted to a loss of $6,967 million in the same quarter last year[34] - Loss from operations was $10,386 million, adjusted to $8,193 million, compared to a loss of $7,512 million in the prior year[34] Cash Position - As of March 31, 2024, Zomedica had $90.9 million in cash and equivalents, down from $100.5 million at the end of 2023[16] Strategic Focus - The company is focused on expanding its product portfolio and increasing adoption of its technologies, with new product launches planned for 2024[19] - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[34] Foreign Exchange and Interest Income - Interest income decreased to $1,093 million from $1,412 million year-over-year, indicating a decline in interest earnings[34] - The company experienced a foreign exchange loss of $129 million, compared to a loss of $26 million in the same quarter last year, highlighting currency volatility impacts[34]

PART I — FINANCIAL INFORMATION This section presents Zomedica Corp.'s unaudited condensed consolidated financial statements and management's analysis for Q1 2024 [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements.) This section presents Zomedica Corp.'s unaudited condensed consolidated financial statements for Q1 2024, covering financial position, performance, equity, and cash flows [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets%20as%20of%20March%2031%2C%202024%20and%20December%2031%2C%202023) Zomedica Corp.'s consolidated balance sheet shows a decrease in total assets and shareholders' equity as of March 31, 2024, compared to December 31, 2023, primarily driven by reductions in cash, available-for-sale securities, and an increased accumulated deficit | Metric | March 31, 2024 (in Thousands) | December 31, 2023 (in Thousands) | Change (in Thousands) | % Change | | :-------------------------------- | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Cash and cash equivalents | $10,939 | $12,952 | $(2,013) | -15.5% | | Available-for-sale securities | $72,023 | $77,545 | $(5,522) | -7.1% | | Total current assets | $92,069 | $99,882 | $(7,813) | -7.8% | | Total assets | $243,701 | $253,197 | $(9,496) | -3.7% | | Total current liabilities | $8,008 | $9,032 | $(1,024) | -11.3% | | Total liabilities | $11,806 | $13,180 | $(1,374) | -10.4% | | Accumulated deficit | $(180,093) | $(170,933) | $(9,160) | 5.4% | | Total shareholders' equity | $231,895 | $240,017 | $(8,122) | -3.4% | [Consolidated Statements of Operations and Comprehensive Loss](index=4&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss%20for%20the%20Three%20Months%20Ended%20March%2031%2C%202024%20and%202023) For the three months ended March 31, 2024, Zomedica Corp. reported increased net revenue but also a significantly higher net loss and comprehensive loss compared to the same period in 2023, driven by increased operating expenses, particularly in R&D and G&A | Metric | Q1 2024 (in Thousands) | Q1 2023 (in Thousands) | Change (in Thousands) | % Change | | :---------------------- | :--------------------- | :--------------------- | :-------------------- | :------- | | Net revenue | $6,262 | $5,482 | $780 | 14.2% | | Cost of revenue | $2,145 | $1,647 | $498 | 30.2% | | Gross profit | $4,117 | $3,835 | $282 | 7.4% | | Gross profit margin | 65.7% | 70.0% | -4.3% pts | -6.1% | | General and administrative | $8,625 | $7,013 | $1,612 | 23.0% | | Research and development | $1,771 | $918 | $853 | 92.9% | | Selling and marketing | $4,107 | $3,416 | $691 | 20.2% | | Loss from operations | $(10,386) | $(7,512) | $(2,874) | 38.3% | | Net loss | $(9,160) | $(6,385) | $(2,775) | 43.5% | | Net loss and comprehensive loss | $(9,223) | $(6,099) | $(3,124) | 51.2% | | Loss per share - basic and diluted | $(0.009) | $(0.007) | $(0.002) | 28.6% | [Consolidated Statements of Shareholders' Equity](index=5&type=section&id=Consolidated%20Statements%20of%20Shareholders%27%20Equity%20for%20the%20Three%20Months%20Ended%20March%2031%2C%202024%20and%202023) Shareholders' equity decreased from $240,017 thousand at December 31, 2023, to $231,895 thousand at March 31, 2024, primarily due to the net loss incurred during the period, partially offset by stock-based compensation Consolidated Statements of Shareholders' Equity (in Thousands) | Metric (in Thousands) | December 31, 2023 | March 31, 2024 | Change | | :-------------------- | :---------------- | :------------- | :----- | | Common Stock Amount | $380,973 | $380,973 | $0 | | Additional Paid-In Capital | $29,929 | $31,030 | $1,101 | | Accumulated Deficit | $(170,933) | $(180,093) | $(9,160)| | Accumulated Comprehensive (Loss) | $48 | $(15) | $(63) | | Total Shareholders' Equity | $240,017 | $231,895 | $(8,122)| [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20for%20the%20Three%20Months%20Ended%20March%2031%2C%202024%20and%202023) Zomedica Corp. experienced an increased net cash outflow from operating activities in Q1 2024 compared to Q1 2023, but a significant shift to net cash inflow from investing activities, leading to a smaller overall decrease in cash and cash equivalents Consolidated Statements of Cash Flows (in Thousands) | Metric | Q1 2024 (in Thousands) | Q1 2023 (in Thousands) | Change (in Thousands) | % Change | | :-------------------------------------- | :--------------------- | :--------------------- | :-------------------- | :------- | | Net cash used in operating activities | $(7,590) | $(4,257) | $(3,333) | 78.3% | | Net cash provided by (used in) investing activities | $5,625 | $(14,792) | $20,417 | -138.0% | | Decrease in cash and cash equivalents | $(1,965) | $(19,049) | $17,084 | -89.7% | | Cash and cash equivalents, end of period | $10,939 | $8,353 | $2,586 | 31.0% | [Notes to the Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of Zomedica's accounting policies, including revenue recognition, business combinations, and fair value measurements, along with breakdowns of investment securities, inventory, property and equipment, goodwill, and intangible assets - Zomedica is a veterinary health company focused on companion animals, operating through Diagnostics and Therapeutic Devices segments[13](index=13&type=chunk)[114](index=114&type=chunk) - The company adopted new accounting pronouncements for Segment Reporting (ASU No. 2023-07) and Improvements to Income Tax Disclosures (ASU No. 2023-09), with ongoing evaluation of their impact[24](index=24&type=chunk)[25](index=25&type=chunk) Disaggregated Revenue (Q1 2024 vs. Q1 2023) | Segment / Category | Q1 2024 (in Thousands) | Q1 2023 (in Thousands) | Change (in Thousands) | % Change | | :----------------- | :--------------------- | :--------------------- | :-------------------- | :------- | | **Diagnostics** | | | | | | Capital | $450 | $217 | $233 | 107.4% | | Consumables | $294 | $182 | $112 | 61.5% | | Total Diagnostics | $744 | $399 | $345 | 86.5% | | **Therapeutic Devices** | | | | | | Capital | $1,774 | $1,493 | $281 | 18.8% | | Consumables | $3,716 | $3,567 | $149 | 4.2% | | Other | $28 | $23 | $5 | 21.7% | | Total Therapeutic Devices | $5,518

Zomedica Corp. (NYSE:ZOM) Q4 2023 Earnings Conference Call April 1, 2024 4:30 PM ET Company Participants Elif McDonald - Investor Relations Larry Heaton - Chief Executive Officer Peter Donato - Chief Financial Officer Conference Call Participants Operator Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to Zomedica's Fourth Quarter and Full-Year 2023 Earnings Release and Business Update Call. I would like to remind everyone that this call is being recorded today, Monday, April 1 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-38298 ZOMEDICA CORP. (Exact name of registrant as specified in its charter) Alberta, Canada ...