Core Insights - Zomedica Corp. has strengthened its intellectual property portfolio with the issuance of four additional U.S. patents for its TRUVIEW and TRUFORMA diagnostic platforms [1] - The veterinary diagnostics market is currently valued between $8 billion and $11 billion and is projected to grow to $17 billion to $22 billion by 2030-2032, with a compound annual growth rate (CAGR) of 9-11% [1] Company Summary - Zomedica now holds a total of 228 patents and 153 trademarks, providing robust protection for its product platforms [1] - The company focuses on innovative point-of-care diagnostic and therapeutic device products for equine and companion animals [1]

Financial Data and Key Metrics Changes - The company reported a record revenue of $7,900,000 for the fourth quarter, reflecting an 8% growth year over year [12][29] - Full year revenue for 2024 reached $27,300,000, marking another record year for the company [12][33] - Gross margin for the fourth quarter was 70.3%, exceeding the target range of 65% to 70% for the third consecutive quarter [30] - The net loss for the fourth quarter was $7,200,000, or $0.01 per share, compared to a net loss of $22,400,000, or $0.02 per share in the prior year [32] Business Line Data and Key Metrics Changes - The Therapeutic Devices segment generated revenues of $7,100,000, while the Diagnostics segment saw revenues of approximately $800,000, reflecting a 109% year-over-year increase [30] - The Diagnostics segment's growth was driven by the adoption of new products, particularly the Truforma assays, which contributed significantly to revenue [30][34] Market Data and Key Metrics Changes - Approximately 80% of revenue came from the U.S. market, with 20% from international markets [62] - The company experienced aggressive growth outside North America, particularly in new international markets [60] Company Strategy and Development Direction - The company is focused on international expansion, regulatory approvals, and growing its distribution network outside the U.S. [14][15] - A significant distribution agreement was signed with Crestlon for the Betagel hemostatic gel product line, expanding the company's portfolio into new care areas [22][24] - The company aims to leverage its established position in the equine market to drive adoption of new products and solutions [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's operational performance despite share price pressures and recent delisting from the NYSE American Exchange [6][10] - The company is committed to achieving cash flow breakeven and GAAP profitability while maintaining a strong liquidity position with over $71,000,000 in cash [43] Other Important Information - The company has made significant investments in infrastructure to improve efficiency and reduce costs, including the expansion of manufacturing facilities and the installation of automated production lines [25][26] - The management team has undergone changes, with Scott Jordan joining as the new CFO, bringing extensive experience in financial leadership [27][35] Q&A Session Summary Question: What are the product introduction goals for 2025? - The company expects to launch another five to six assays in 2025, including a mix of canine, feline, and equine assays [45] Question: Can you comment on the sales force restructuring? - The overall headcount is flat year over year, but the commercial organization has seen an increase in sales personnel to support new product launches [48][49] Question: Do you have financial guidance for 2025? - The company is developing sales growth projections for 2025 and will provide guidance later in the year [55] Question: What is the revenue growth breakdown between domestic and international markets? - The company experienced similar growth rates domestically and internationally, with about 80% of revenue from the U.S. [60][62] Question: What is the growth rate for PulseVet products? - The PulseVet products grew year over year by 4%, with capital sales affected by macroeconomic conditions [73]