ZOM - Zomedica stock rises as prelim Q4 revenue soars CEO eyes growth via acquisitions

Zomedica ( NYSE: ZOM ) stock rose ~4% premarket on Thursday after the company said Q4 revenue is expected to grow 46% to 51% Y/Y, as per preliminary results, and CEO Larry Heaton noted exploring growth opportunities via acquisitions.

Q4 revenue is expected to be about $6M to $6.2M, mainly due to an increase in PulseVet sales and the inclusion of the recently acquired Assisi products, the company added.

Revenue for full year 2022 is expected to be about $18.6M to $18.9M, growing 354% to +361% Y/Y, primarily driven by a full year's worth of PulseVet sales and the inclusion of Assisi products.

For full year 2022, gross margin is anticipated to be about 72%.

Cash, cash equivalents, and available-for-sale securities are expected to be ~$156M as of Dec. 31, 2022, according to preliminary data.

Outlook :

"We expect to continue to grow revenue as we launch new products in 2023, including the VetGuardian wireless vital signs monitor launched in early January, the TRUVIEW™ digital microscopy platform we plan to launch in the second quarter, and several new TRUFORMA assays planned for launch later in the year," said Larry Heaton, CEO of Zomedica.

Heaton added that, "with substantial capital on hand, we continue to evaluate strategic business development options in the animal health sector to identify new opportunities to grow further through acquisitions."

ZOM +4.44% to $0.28 premarket Feb. 9

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