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Mar 31, 2022
Zomedica Q1 2022 Earnings Report
Reported first quarter revenues of $3.8 million, a 74% gross margin, and $192.3 million in cash, with revenue up 38% from 2021 combined revenues.
Key Takeaways
Zomedica reported a strong first quarter in 2022, with revenues of $3.8 million, a 74% gross margin, and $192.3 million in cash. Revenue increased by 38% compared to the combined revenues of Zomedica and PulseVet as a standalone company in the same period last year.
Total revenue for Q1 2022 was $3.8 million, compared to $14,000 in Q1 2021.
Gross margin was 74%, compared to 60% in Q1 2021.
TRUFORMA product revenue was $57,000 in Q1 2022, a 307% increase over Q1 2021.
PulseVet revenue was $3.7 million in Q1 2022, a 36% increase over Q1 2021 as a standalone company.
Revenue by Segment
Forward Guidance
The Company expects revenue to increase in subsequent periods as it increases the sales and marketing of the PulseVet platform and as additional assays are added to the TRUFORMA platform. The Company anticipates that the costs of revenue will increase in 2022 as it increases revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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