Zomedica Reports 16% Revenue Growth to $8.1 Million in Q3 2025

Zomedica Corp. reported its financial results for the third quarter and the first nine months of 2025, revealing a net revenue of $8.1 million for the three months ending September 30, 2025, a 16% increase from $7.0 million in the same period of 2024. For the nine-month period, revenue rose to $21.6 million, up 11% from $19.4 million year-over-year. The growth in revenue was attributed to increased sales of consumables from existing products, particularly the PulseVet® and TRUFORMA® platforms, as well as new revenue streams from contract manufacturing and engineering services.

Despite the revenue growth, Zomedica reported a net loss of $6.1 million for the third quarter, a slight improvement from a loss of $6.7 million in the prior year. However, the nine-month net loss surged to $77.3 million, compared to $39.8 million in the same period of 2024. This significant increase in losses was primarily due to a substantial impairment charge of $55.8 million related to goodwill and intangible assets, following a decline in the company's market capitalization after its delisting from the NYSE American.

Operationally, Zomedica's total assets decreased to $130.9 million as of September 30, 2025, down from $207.4 million at the end of 2024. The decline was largely due to the impairment of goodwill and intangible assets, which left the company with no goodwill on its balance sheet. The company also reported a decrease in general and administrative expenses, which fell by 13% to $5.9 million for the third quarter, reflecting reduced professional fees and lower wages. Research and development expenses remained relatively stable, while selling and marketing expenses increased due to higher commissions and staffing costs.

Zomedica's cash and cash equivalents increased to $7.5 million from $7.0 million at the end of 2024, with net cash used in operating activities decreasing by 12% to $16.8 million for the nine months ended September 30, 2025. The company continues to focus on expanding its product offerings and market presence, particularly through the launch of new assays for the TRUFORMA® platform and the marketing of VETIGEL®. Looking ahead, Zomedica anticipates continued revenue growth as it enhances its sales and marketing efforts, although it expects to incur further losses until revenues can sufficiently cover operating expenses.