on Zomedica Corp. (NASDAQ:ZOM)
Zomedica Announces Record Revenue and Strategic Growth in 2024
Zomedica Corp., a veterinary health company, reported record revenue for its fourth quarter and full year of 2024. Revenue reached $7.9 million in Q4, marking a 109% year-over-year growth in the Diagnostics segment. For the full year, revenue increased by over 8% to $27.3 million, driven by growth in both Therapeutics and Diagnostics. The company's gross margin remained strong at 70%.
The year 2024 was notable for Zomedica, characterized by transformative steps, including the integration of 2023 acquisitions and expansion into international markets. The company's cash position by year-end was robust, with $71 million in liquidity, setting the stage for future growth.
Looking forward, Zomedica plans to further tap into the equine market with new product launches and distribution agreements. Zomedica's strategic focus, along with its financial stability, positions the company for continued growth in 2025.
R. E.
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