Zomedica Corp.

Zomedica Corp. is a U.S.-based veterinary health company that develops and commercializes diagnostic and therapeutic products for companion animals. Its portfolio includes the TRUFORMA, PulseVet, Assisi, TRUVIEW, VetGuardian, and VETIGEL product lines, sold through direct and indirect channels in the United States and international markets.

−256,9 %

67,7 %

−255,6 %

+17,4 %

6.78

6.19

— Zomedica Corp.
%
Diagnostic platforms25% Veterinary diagnostic instruments and assays used in clinic settings, including TRUFORMA.
Therapeutic devices45% Non-invasive veterinary treatment systems and related consumables, including PulseVet and Assisi.
Monitoring and connected care10% Remote monitoring hardware, subscriptions, and service agreements for animal care.
Consumables and disposables15% Recurring consumable products sold alongside installed platforms and devices.
Contract manufacturing and engineering5% Engineering and manufacturing-related revenue recognized from third-party work.

Zomedica sells primarily to veterinary clinics, hospitals, and animal health practitioners that need diagnostic,...

  • Veterinary clinicsprimary

    Buy TRUFORMA, PulseVet, Assisi, and related consumables to perform diagnostics and treatments in-house.

  • Veterinary hospitals and specialty practicesprimary

    Use therapeutic and monitoring products for broader case mix and higher-acuity animal care.

  • Companion animal practitionerssecondary

    Purchase devices and consumables to support routine and recurring patient care.

  • International distributors and channel partnerssecondary

    Buy or place products for resale and local market access outside the U.S.

  • Contract manufacturing customersemerging

    Purchase engineering and manufacturing services when Zomedica performs third-party work.

Zomedica is headquartered in the United States and reports revenue from both U.S. and international markets...

  • •United States is the core market for product sales and services
  • •International revenue comes from select product lines and channels
  • •Switzerland and Canada are operating subsidiaries, not core revenue hubs
  • •U.S. dollar is the reporting currency and functional currency
  • •Geographic mix matters because installed-base sales depend on local adoption

Zomedica’s strategy centers on expanding its installed base of veterinary platforms and increasing recurring revenue...

01
Grow recurring revenue from installed platformsshort-term

The model depends on repeat consumables, assays, and services after device placement.

02
Expand TRUFORMA assay menumedium-term

More assays increase platform utility and support customer adoption and utilization.

03
Broaden commercialization across product linesshort-term

Selling more products across the portfolio reduces dependence on any single platform.

04
Pursue selective business developmentmedium-term

Acquisitions or partnerships can add technology, products, or manufacturing capability.

Zomedica’s business depends on successful product adoption, customer retention, and continued consumable usage after...

high

Customer return and churn risk on placed capital

TRUFORMA-related capital is placed with customers who can return it, which can stop recurring consumable purchases.

Scope
Installed-base diagnostic and therapeutic products
Materiality
high
high

Impairment of goodwill, intangibles, and equipment

Management disclosed sensitivity to assumptions, discount rates, and market conditions that can trigger write-downs.

Scope
Acquired assets and reporting units
Materiality
high
medium

Commercialization and adoption risk

New assays, VETIGEL, and other products must gain traction to support growth.

Scope
TRUFORMA, VETIGEL, new launches
Materiality
high
medium

Funding and dilution risk

Future capital needs could require equity issuance or debt, affecting ownership and flexibility.

Scope
Corporate funding and acquisitions
Materiality
medium
medium

Regulatory and product development risk

Veterinary diagnostics and therapeutics require ongoing development, validation, and market acceptance.

Scope
Assays, devices, and clinical studies
Materiality
medium
Revenue recognition across multiple product types
Can shift revenue between periods and affect comparability
Valuation and payback of placed capital
Affects asset carrying values and potential write-downs
Goodwill and intangible asset impairment
Can produce material non-cash impairment charges
Property and equipment recoverability
May require impairment if utilization or placements disappoint

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: 29/04/2026