Friday, May 16, 2025
Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1Q25 Showed Expected Year-Over-Year Growth. Zomedica reported 1Q25 loss of $63.9 million or $(0.07) per share, including an Impairment Expense of $55.8 million related to the company’s lower market capitalization and stock price. Excluding this charge, Net Loss would have been about $8.0 million. Revenues of $6.5 million showed an annual increase of 3.8% over 1Q24. As expected, there was a seasonal decline from 4Q24 due to the year-end effect on equipment spending. Cash and equivalents on March 31, 2025 were $64.6 million.
Product Mix Reflects Growing User Base. During the quarter, Consumables increased to 70% of sales with Capital Equipment at 30% of sales. This shifting product mix reflects an increasing total number of instruments in use and more assay offerings to increase utilization of each instrument. We expect the consumable segment to continue its growth as additional capital equipment sales add to the user base and introduction of new assays increases the number of tests run on each instrument.
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