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Dec 31, 2022
Zomedica Q4 2022 Earnings Report
Zomedica's revenue increased driven by growth across its product platforms, with gross margin remaining strong and strategic investments in place for future growth.
Key Takeaways
Zomedica reported a 51% increase in revenue for the fourth quarter of 2022, reaching $6.2 million. The company's gross margin was 70% for the quarter. Zomedica's cash burn during the fourth quarter was $2.5 million.
Revenue for Q4 2022 reached $6.2 million, a 51% increase compared to Q4 2021.
Gross margin was 70% for the fourth quarter of 2022.
Cash burn during the fourth quarter was $2.5 million.
Launched the VetGuardian® zero-touch vital signs remote monitoring system in early January.
Zomedica
Zomedica
Zomedica Revenue by Segment
Revenue by Segment
TRUFORMA Revenue
CapyFin.com Forward Guidance
Zomedica is focused on building on its growth trajectory by introducing two new product platforms into the market in 2023. The company is also evaluating strategic business development and M&A opportunities to further bolster its overall growth opportunity in the large and growing animal health sector.
Positive Outlook
- Launching the VetGuardian® zero-touch vital signs remote monitoring system.
- Launching the new TRUVIEWTM digital microscope.
- Continue our investment in the development of additional assays which we believe will increase the utility of the TRUFORMA platform for our customers over time
- Expected growth in 2023 with Assisi recognition and brand awareness to increase
- Continue to evaluate strategic business development and M&A opportunities
Challenges Ahead
- Uncertainty as to whether our strategies and business plans will yield the expected benefits
- Uncertainty as to the timing and results of development work and verification and validation studies
- Uncertainty as to our ability to successfully integrate acquisitions
- Uncertainty as to our ability to supply products in response to customer demand
- Risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products