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Heska Corporation (NASDAQ: HSKA) has successfully completed the acquisition of 100% of MBio Diagnostics, Inc. (LightDeck), a leader in planar waveguide fluorescence immunoassay diagnostics. This acquisition, first announced on September 12, 2022, strengthens Heska’s research and development capabilities while expanding its manufacturing potential at a state-of-the-art facility in Longmont, Colorado. The facility is expected to enhance production capacity significantly, supporting innovative testing platforms, including an exclusive canine cancer screening test anticipated for launch in 2023.
Heska Corporation (NASDAQ: HSKA) will participate in the 41st Annual J.P. Morgan Healthcare Conference in San Francisco, CA, on January 11, 2023. Kevin Wilson, President & CEO, is scheduled to present at 9:45 a.m. PST. A live audio webcast of his presentation will be available online and archived for 90 days. Additionally, Heska management will engage in one-on-one meetings on the same day. Interested parties can contact J.P. Morgan or Heska's Investor Relations for meeting requests. For more details, visit the J.P. Morgan Healthcare Conference website.
Heska Corporation (NASDAQ: HSKA) reported a 2.1% revenue increase to $61.5 million for Q3 2022, driven by a 6.7% rise in North America revenue, particularly from POC Lab Consumables, which grew 11.4%. Consolidated gross margin improved by 180 bps to 43.7%. The company achieved a significant net loss reduction of 77% year-over-year. However, International revenue declined by 5.7%. Heska is set to acquire LightDeck Diagnostics to enhance its manufacturing and innovation capabilities, and received USDA authorization for its truRapid™ heartworm test.
VolitionRx Limited (NYSE AMERICAN: VNRX) has launched its Nu.Q® Vet Cancer Screening Test across the U.S. and plans to expand into Europe via Heska Corporation (NASDAQ: HSKA). The test offers an accurate, affordable, and non-invasive method for early cancer detection in dogs. With approximately 84 million pet dogs in the U.S., this screening can enhance health outcomes by facilitating early treatment. This partnership aligns with Heska's growth strategy in advanced veterinary diagnostics, following a $28 million licensing agreement with Volition.
Heska Corporation (NASDAQ: HSKA) will announce its Q3 2022 financial results on November 8, 2022, before market opening. An earnings call is scheduled for 9 a.m. MT / 11 a.m. ET the same day. Investors can participate by dialing in or via live webcast on the company's investor relations site. A replay of the call will be available starting at 2 p.m. ET on November 8.
The company specializes in advanced veterinary diagnostics and has a diverse product portfolio spanning diagnostics and healthcare solutions.
Heska Corporation (NASDAQ: HSKA) announced its agreement to acquire MBio Diagnostics, Inc. d/b/a LightDeck Diagnostics for $38.7 million. The acquisition aims to enhance Heska's manufacturing capabilities and accelerate research for advanced veterinary diagnostics. Founded in 2009, LightDeck develops innovative point-of-care diagnostic platforms with significant IP assets, including 16 US patents. The transaction is expected to close in the first half of 2023, contingent on customary conditions. This strategic move is designed to improve production and expand Heska's diagnostic testing menu.
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Heska Corporation (NASDAQ: HSKA) announced its Q2 2022 financial results, reporting consolidated revenue of $64.7 million, a slight decrease of 0.4% year-over-year. North America revenue grew by 0.9% to $40.9 million, while international revenue fell 2.5% to $23.8 million. Gross margin improved by 30 bps to 42.3%, but net loss was $5.2 million. The company updated its full-year outlook, expecting revenue between $273-$277 million and an adjusted EBITDA margin of over 11%. Heska’s CEO highlighted growth in new product launches despite macroeconomic headwinds.
Heska Corporation (NASDAQ: HSKA) will release its second quarter 2022 financial results on August 8, 2022, before market opening. An earnings call is scheduled for 9 a.m. MT (11 a.m. ET) the same day, where the company will discuss the results. Investors can access the call via telephone or through a live webcast on the company's investor relations website. A replay will be available following the event.
Heska specializes in advanced veterinary diagnostics and healthcare solutions through its North America and International segments.
Heska Corporation (NASDAQ: HSKA), a leading provider of veterinary diagnostic solutions, announced that Kevin Wilson, President & CEO, will present at the Stifel 2022 Jaws and Paws Conference in New York City on June 1, 2022, at 3:00 p.m. ET. The presentation will include a Q&A session and can be accessed via the provided webcast link. Following this, the management team will hold one-on-one investor meetings. The event details will be archived on Heska's website for 90 days. For inquiries, contact Stifel or Heska Investor Relations.