Quarterly ResultMay 6, 2026, 04:14 PM
Zomedica Q1 Net Loss $(4.53M); Revenue +35.4% to $8.8M
AI Summary
Zomedica Corp. reported a significant improvement in its financial performance for the first quarter ended March 31, 2026, with net loss narrowing to $(4.53) million from $(63.81) million in the prior year, largely due to the absence of a substantial impairment charge. Total net revenue increased by 35.4% to $8.80 million, driven by strong growth in Diagnostics and the new Development Services segment. The company also saw reduced operating expenses across general and administrative, research and development, and selling and marketing categories.
Key Highlights
- Net loss significantly improved to $(4.53) million from $(63.81) million year-over-year.
- Total net revenue increased 35.4% to $8.80 million from $6.50 million year-over-year.
- Loss from operations improved to $(4.90) million from $(64.55) million year-over-year.
- Diagnostics revenue grew 72.8% to $0.97 million from $0.56 million year-over-year.
- Development Services revenue reached $2.01 million, up from $0 in the prior year.
- Cash and cash equivalents increased to $9.37 million from $9.02 million quarter-over-quarter.
- Operating expenses (G&A, R&D, S&M) decreased by $2.74 million year-over-year.