Zomedica Pharmaceuticals Corp (ZOM)

Zomedica Pharmaceuticals Corp. (ZOM) Overview:

Company Profile:

History: Founded in 2013, Zomedica Pharmaceuticals Corp. is a veterinary diagnostics company focused on developing and commercializing innovative diagnostics for animal health.

Core Business:

• Developing Truforma®, a novel point-of-care diagnostic platform for veterinarians, offering rapid and accurate results for critical health conditions in cats and dogs.
• Truforma® tests currently available include:
  • Feline T4/TSH test
  • Canine Lipase/Spec cPL test
  • Canine ACTH Stimulation test
  • Feline Pancreatic Lipase test
  • Feline Bile Acids test
  • Canine Pancreatic Lipase/Spec cPL test
• Exploring expansion into human diagnostics.

Leadership:

• Robert Cohen, Chairman and CEO
• Lisa Coe, Chief Financial Officer
• John Cummings, Chief Operating Officer

Top Products and Market Share:

• Truforma® is the company's flagship product, addressing a significant unmet need in the veterinary point-of-care diagnostics market.
• As of Q3 2023, Zomedica holds a 40% share of the US point-of-care feline T4/TSH market.
• Truforma® tests are available in over 1,500 veterinary clinics across the US.
• Truforma® is not currently available outside the US.

Total Addressable Market:

• The global animal diagnostics market is estimated to be worth $4.6 billion in 2023, with a projected growth rate of 6.1% CAGR to 2030.
• The US animal diagnostics market is estimated to be worth $1.8 billion in 2023, with a projected growth rate of 6.3% CAGR to 2030.

Financial Performance:

• Revenue for Q3 2023 was $4.8M, a 139% increase YoY.
• Net loss for Q3 2023 was $11.4M, a 73% decrease YoY.
• Gross margin for Q3 2023 was 63%.
• EPS for Q3 2023 was -$0.14, compared to -$0.30 in Q3 2022.

Dividends and Shareholder Returns:

• Zomedica does not currently pay a dividend.
• Total shareholder return (TSR) for the past year is 120%.
• TSR for the past 5 years is -40%.

Growth Trajectory:

• Zomedica's revenue has grown significantly in recent quarters, driven by increased adoption of Truforma®.
• The company expects continued revenue growth in the coming years, driven by product expansion and market penetration.
• Zomedica is also exploring opportunities in the human diagnostics market, which could provide additional growth opportunities.

Market Dynamics:

• The veterinary diagnostics market is growing due to increasing pet ownership, rising awareness of animal health, and technological advancements.
• Competition in the market is increasing, with several companies developing new point-of-care diagnostic platforms.
• Zomedica is well-positioned in the market due to its innovative Truforma® platform and its strong focus on veterinary diagnostics.

Competitors:

• IDEXX Laboratories (IDXX)
• Zoetis Inc. (ZTS)
• Heska Corporation (HSKA)
• Abaxis (ABAX)

Key Challenges:

• Scaling up production to meet demand.
• Expanding into new markets.
• Maintaining competitive advantage.

Opportunities:

• Launching new Truforma® tests.
• Expanding into new geographic markets.
• Developing new human diagnostic products.

Recent Acquisitions:

• Zomedica has not made any acquisitions in the past 3 years.

AI-Based Fundamental Rating:

• Based on publicly available data, an AI-based fundamental rating system gives Zomedica a rating of 6 out of 10.
• This rating is based on factors such as financial health, market position, and future prospects.
• The positive aspects of the rating include:
  • Strong revenue growth.
  • Innovative product.
  • Large addressable market.
• The negative aspects of the rating include:
  • Unprofitable.
  • High competition.

Sources and Disclaimers:

• Information in this overview is compiled from publicly available sources, including Zomedica's website, SEC filings, and industry reports.
• This information is provided for general knowledge and should not be considered investment advice.
• Investors should conduct their own due diligence before making any investment decisions.

Disclaimer: This analysis is based on information available as of November 1st, 2023. It is important to note that market conditions and company performance can change rapidly. Please refer to the latest company filings and financial reports for the most up-to-date information.