Zomedica Announces Record Second Quarter Revenue of $9.5 Million, Up 37% Year-Over-Year, Net Loss Reduced 49%, with $44.1 Million in Liquidity
Rhea-AI Summary
Zomedica (OTCQB: ZOMDF) reported record Q2 2026 revenue of $9.5 million, up 37% from $7.0 million in Q2 2025, marking its 22nd consecutive quarter of year-over-year growth. Six-month 2026 revenue rose 36% to $18.3 million.
Q2 growth was driven by a 77% increase in Diagnostics revenue to $1.4 million, 9% growth in Therapeutic Devices to $6.8 million, and ongoing contributions from the Development Services segment, which generated $1.4 million in Q2 and $3.4 million year-to-date. Consumables revenue grew 26% to $6.6 million and Capital sales increased 11% to $1.9 million. Gross margin reached 64% in Q2 and 63% year-to-date.
Total Q2 operating expenses declined 20% to $10.1 million, with research and development down 43%, selling and marketing down 21%, and general and administrative down 13%. Net loss narrowed to $3.8 million from $7.4 million a year earlier, while Q2 Non-GAAP EBITDA loss improved to $2.2 million from $5.8 million. Cash burn fell 38% to $3.4 million, the lowest non-year-end quarterly level on record. As of June 30, 2026, Zomedica reported $44.1 million in cash, cash equivalents, and available-for-sale securities and 979,949,668 common shares outstanding.
Positive
- Q2 2026 revenue $9.5M, up 37% year-over-year
- Diagnostics segment revenue up 77% in Q2 2026
- Consumables revenue up 26% in Q2 2026 to $6.6M
- Operating expenses down 20% in Q2 2026 to $10.1M
- Net loss reduced to $3.8M in Q2 2026 from $7.4M
- Cash and investments $44.1M liquidity as of June 30, 2026
Negative
- Net loss $3.8M in Q2 2026 and $8.3M year-to-date
- Non-GAAP EBITDA loss $2.2M in Q2 2026 and $4.7M year-to-date
- Operating expenses $20.5M for six months ended June 30, 2026
News Explained
June 30 cash and equivalents were $7.194 million, separate from the release’s $44.1 million combined liquidity figure.
The company reported second-quarter results for the period ended
The supplied comparison puts June 30 cash and equivalents at
The
Sources and calculations
- Zomedica second-quarter 2026 results release (2026-08-05)
- Zomedica Q2 2026 fundamentals (2026-06-30)
- Zomedica quarterly earnings report (2026-08-05)
- Form 10-Q purpose (2026-07-17)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $7,194,000 / ($2,551,000 / 90) = [object Object]
News Market Reaction – ZOMDF
In the Aug 6 session, ZOMDF declined 2.56%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Zomedica surpasses
ANN ARBOR, MI / ACCESS Newswire / August 5, 2026 / Zomedica Corp. (OTCQB:ZOMDF) ("Zomedica" or the "Company"), an animal health company offering innovative point-of-care diagnostic and therapeutic products for equine and companion animals, today reported consolidated financial results for the three and six months ended June 30, 2026.
"Delivering
"Growth in the quarter was driven by continued strength in our PulseVet® and Assisi® therapeutic device products, increasing adoption of our diagnostic offerings, particularly our TRUFORMA® platform, and contributions from our newly formed Development Services segment. As a result, we delivered the strongest second quarter in Zomedica's history, surpassing the prior record of
"Commercial initiatives within our Diagnostics segment, including our collaboration with Boehringer Ingelheim Animal Health, assays that provide point-of-care diagnoses for the equine market, and expansion into additional international territories, continue to deliver encouraging results, as evidenced by
"We also continue to make meaningful progress within our Development Services segment, providing another opportunity to leverage our engineering, development, and manufacturing expertise while generating additional revenue and improving operating leverage over time.
"The Development Services business segment has generated revenue of
"Within our core commercial business, excluding Development Services, revenue increased
"Our international business also continues to perform exceptionally well, with revenue increasing
"Gross margin was
"Disciplined cost management remains a priority. Operating expenses declined
"Cash burn declined to
"We believe our record second-quarter performance, expanding commercial partnerships, ongoing activity within our Development Services segment, and strong balance sheet all position us well for the remainder of 2026. We remain focused on executing our growth strategy, improving operating efficiency, and creating long-term shareholder value." concluded Mr. Heaton.
2026 Second Quarter Financial Highlights
Revenue increased
37% to$9.5 million , comprised of77% growth in Diagnostics,9% growth in Therapeutic Devices,26% growth in consumables,11% growth in Capital, and continued contributions from our Development Services segment.Operating expenses decreased
20% , or$2.6 million , compared to the second quarter of 2025.Cash burn improved by
$2.1 million , or38% , to$3.4 million , representing the Company's lowest non-year-end quarterly cash burn on record.
Reported financial metrics, including year-over-year and sequential percentage changes, are calculated using actual results and may not match calculations based on the rounded figures presented in this press release. Please refer to the Company's Form 10-Q for additional detail.
2026 Second Quarter and Year-To-Date Results Review
Revenue for the three months ended June 30, 2026 was
Revenue for the six months ended June 30, 2026 was
Revenue by Product Segment:
Diagnostics, comprised of our TRUFORMA®, VETGuardian®, and TRUVIEW® products, generated revenue of
$1.4 million , up77% year-over-year and$2.4 million , up75% year-over-year for the three and six months ended June 30, 2026.Therapeutic Devices, comprised of our PulseVet®, Assisi®, and VETIGEL® products, generated revenue of
$6.8 million , up9% year-over-year and$12.6 million , up4% year-over-year for the three and six months ended June 30, 2026.Development Services, which leverages the Company's engineering, development, and manufacturing capabilities to support strategic opportunities in both animal and human health, generated revenue of
$1.4 million and$3.4 million for the three and six months ended June 30, 2026.
Revenue by Product Category:
Consumables, driven primarily by increased adoption of the TRUFORMA® platform and utilization and continued strength in PulseVet® trode sales from both new installations and reorders, generated revenue of
$6.6 million ,up26% year-over-year and$12.1 million , up24% year-over-year for the three and six months ended June 30, 2026. We anticipate this recurring revenue stream will continue to grow as additional devices are installed.Capital, comprised of PulseVet and VETGuardian® product sales, generated revenue of
$1.9 million , up11% year-over-year and$3.8 million , up6% year-over-year for the three and six months ended June 30, 2026.Engineering Services, associated with our Development Services segment, generated revenues of
$1.0 million and$2.2 million for the three and six months ended June 30, 2026.
Gross Margin was
Total operating expenses were
Total operating expenses were
Operating expenses for 2025 included non-cash impairment charges of
Excluding these impairment charges, adjusted operating expenses for the six months ended June 30, 2026 were
Research and development expenses were
Selling and marketing expenses were
General and administrative expenses were
Net loss for the three months ended June 30, 2026 was
*Non-GAAP EBITDA loss (which includes adjustments for stock compensation) for the three months ended June 30, 2026 was
*Adjusted Non-GAAP EBITDA loss (excluding the non-recurring and non-cash items noted above) for the three months ended June 30, 2026 was
Liquidity and Outstanding Share Capital
As of June 30, 2026, Zomedica had cash, cash equivalents, and available-for-sale securities totaling
As of June 30, 2026, Zomedica had 979,949,668 common shares issued and outstanding.
For complete financial results, please see Zomedica's filings on EDGAR and SEDAR+ or visit the Zomedica website at www.zomedica.com.
For percentage calculations please refer to the financial statements filed with the SEC on Wednesday, August 5, 2026, along with other public filings.
Zomedica's Fourth Friday @ Four Webinar for August:
Zomedica Corp. is pleased to announce the next installment of its Fourth Friday at Four Webinar series, scheduled this month on the fourth Friday of August - August 28, 2026 at 4:00 PM ET, during which we will focus on the international market and also review and discuss our Second Quarter 2026 financial performance.
Registration for Zomedica's Fourth Friday @ Four webinar for August is available through this link:
https://itl.ink/FourthFridayAugust
For more information visit www.zomedica.com.
About Zomedica
Zomedica is a leading equine and companion animal healthcare company dedicated to improving animal health by providing veterinarians with innovative therapeutic and diagnostic solutions. Our gold standard PulseVet® shock wave system, which accelerates healing in musculoskeletal conditions, has transformed veterinary therapeutics. Our suite of products also includes the Assisi Loop® line of therapeutic devices and the TRUFORMA® diagnostic platform, the TRUVIEW® digital cytology system, the VetGuardian PLUSTM Zero Touch® monitoring system and VETIGEL® hemostatic gel, all designed to empower veterinarians to provide top-tier care. In the aggregate, their total addressable market in the U.S. exceeds
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Cautionary Note Regarding Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company's products, the Company's ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements and our ability to realize upon our business plans and cost control efforts.
Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether the new Development Services business segment will continue to generate revenue; the outcome of clinical studies; the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments; uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and verification and validation studies; uncertainty as to the timing and results of commercialization efforts, including international efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to realize the anticipated growth opportunities from our acquisitions; uncertainty as to our ability to supply products in response to customer demand; supply chain risks associated with tariff changes; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products and purchase of consumables following adoption of our capital equipment; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR+ at www.sedarplus.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Investor Relations Contact:
Zomedica Investor Relations
investors@zomedica.com
1-734-369-2555; Option #5
Non-GAAP Measures
Non-GAAP EBITDA, Adjusted Non-GAAP EBITDA, and other measures presented on an adjusted basis are not recognized terms under U.S. GAAP and do not purport to be alternatives to the most comparable U.S. GAAP amounts. Since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. Management uses the identified non-GAAP measures to evaluate the operating performance of the Company and its business segments and to forecast future periods. Management believes these non-GAAP measures assist investors and other interested parties in evaluating Zomedica's on-going operations and provide important supplemental information to management and investors regarding financial and business trends relating to Zomedica's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. Reconciliations of non-GAAP measures to their closest U.S. GAAP equivalent are presented below.
* Non-GAAP EBITDA is defined as net loss and comprehensive loss excluding amortization, depreciation, non-cash stock compensation, and taxes while reversing out the benefits derived from net interest income.
** Non-GAAP Adjusted EBITDA is defined as Non-GAAP EBITDA, as defined above, excluding impairment charges and non-recurring items; including but not limited to severance, specialized accounting, tax, and audit services, new facility integration / start-up costs, and other one-time items.
ZOMEDICA CORP. | ||||||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES | ||||||||
(amounts in thousands) | ||||||||
(unaudited) | ||||||||
Three Months Ended June 30, | ||||||||
2026 | 2025 | |||||||
Net loss and comprehensive loss | $ | (3,782 | ) | $ | (7,353 | ) | ||
Amortization expense | 1,317 | 1,412 | ||||||
Depreciation expense | 526 | 509 | ||||||
Stock-compensation expense | 68 | 260 | ||||||
Interest income | (404 | ) | (629 | ) | ||||
Income tax expense (benefit) | 26 | 12 | ||||||
Non-GAAP EBITDA loss | $ | (2,249 | ) | $ | (5,789 | ) | ||
Impairment expense | - | - | ||||||
Proforma adjustments (1) | (20 | ) | 279 | |||||
Adjusted Non-GAAP EBITDA loss | $ | (2,269 | ) | $ | (5,510 | ) | ||
(1) Proforma adjustments for the three months ended June 30, 2026 included
ZOMEDICA CORP. | ||||||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES | ||||||||
(amounts in thousands) | ||||||||
(unaudited) | ||||||||
Six Months Ended June 30, | ||||||||
2026 | 2025 | |||||||
Net loss and comprehensive loss | $ | (8,373 | ) | $ | (71,118 | ) | ||
Amortization expense | 2,689 | 3,105 | ||||||
Depreciation expense | 1,045 | 1,030 | ||||||
Stock-compensation expense | 711 | 878 | ||||||
Interest income | (859 | ) | (1,359 | ) | ||||
Income tax expense (benefit) | 65 | (45 | ) | |||||
Non-GAAP EBITDA loss | $ | (4,722 | ) | $ | (67,509 | ) | ||
Impairment expense | - | 55,833 | ||||||
Proforma adjustments (1) | 43 | 422 | ||||||
Adjusted Non-GAAP EBITDA loss | $ | (4,679 | ) | $ | (11,254 | ) | ||
(1) Proforma adjustments for the six months ended June 30, 2026 included
SOURCE: Zomedica Corp.
View the original press release on ACCESS Newswire