Zomedica (US:ZOM)2025-11-04 21:25Revenue Growth - Revenue for Q3 2025 increased by 16% to $8.1 million, marking the highest quarterly revenue in company history and the 19th consecutive quarter of year-over-year revenue growth[1][10][12]. - The Diagnostics segment saw a significant growth of 51%, driven by the adoption of the TRUFORMA® platform and the introduction of a new Development Services revenue stream[5][10][16]. - International sales grew by 16% year-over-year, supported by new distribution agreements and partnerships in key markets[6]. - The introduction of new products, including enhancements to the TRUFORMA® platform and the upcoming TRUVIEW AI platform, is expected to drive future revenue growth[7]. - Zomedica's total addressable market in the U.S. exceeds $2 billion, indicating significant growth opportunities in the animal health sector[21]. Profitability and Expenses - Gross margin for the quarter was reported at 67%, contributing to improved profitability prospects[8][10][13]. - Operating expenses decreased by 4% year-over-year to $12.0 million, reflecting effective cost-reduction initiatives[8][13][14]. - Net loss for Q3 2025 was reduced by 9% to $6.1 million compared to the same period in 2024[15]. - Adjusted Non-GAAP EBITDA loss for the three months ended September 30, 2025, was $3,702 thousand, an improvement from $4,313 thousand in the same period of 2024[31]. - Interest income for the three months ended September 30, 2025, was $(561) thousand, an improvement from $(977) thousand in 2024[31]. Financial Position - The company had cash and cash equivalents of $54.4 million as of September 30, 2025, providing a strong liquidity position to support growth initiatives[18]. - Non-GAAP EBITDA loss for the nine months ended September 30, 2025, was $71,427 thousand, compared to a loss of $34,612 thousand in 2024, indicating a significant increase in losses[33]. - Total net loss for the nine months ended September 30, 2025, reached $77,223 thousand, compared to $39,536 thousand in 2024, reflecting a worsening financial position[33]. Impairment and Expenses - Impairment expense for the nine months ended September 30, 2025, was $55,833 thousand, a substantial increase from $16,024 thousand in 2024[33]. - Stock-compensation expense for the three months ended September 30, 2025, was $868 thousand, up from $473 thousand in the same period of 2024[31]. - Amortization expense for the nine months ended September 30, 2025, was $4,499 thousand, slightly lower than $4,834 thousand in 2024[33]. - Income tax benefit for the nine months ended September 30, 2025, was $(64) thousand, compared to $(336) thousand in 2024, indicating a decrease in tax benefits[33]. Proforma Adjustments - Proforma adjustments for the three months ended September 30, 2025, included $214 thousand, down from $523 thousand in 2024[31].