Veterinary Diagnostics and Therapeutics / Animal Health Medical Devices
Strategic Profile
Zomedica operates in a growing $2.7+ billion total addressable market in veterinary diagnostics and therapeutics. The company achieved 16% year-over-year revenue growth in Q3 2025 to $8.1M with strong 67% gross margins and maintained a solid $54.4M cash position. International expansion is a key growth driver, with international sales growing 20% and strategic partnerships expanding distribution across Europe and North America.
Cyborg Score Rationale
Zomedica shows operational progress with double-digit revenue growth, improved cash efficiency (25% reduction in cash burn), and strong gross margins, plus ISO 13485 certification achieved November 2025. However, the company faced delisting from NYSE American to OTCQB due to low stock price and maintains significant net losses ($6.1M in Q3 2025), creating near-term headwinds despite encouraging product momentum.
Top Insights
Q3 2025 diagnostics revenue surged 51% YoY, demonstrating strong adoption of TRUFORMA platform and expanding diagnostic menu with new assays for equine and feline applications
Delisted from NYSE American to OTCQB in March 2025, indicating near-term capital market challenges but operational improvements visible in reduced cash burn (25% improvement YoY) and sequential operating expense reductions
New Development Services revenue stream contributed $0.7M in Q3 2025, representing emerging revenue diversification beyond core diagnostic and therapeutic products
Recent product launches including Assisi Loop Lounge therapy bed and ISO 13485 certification underscore strengthening manufacturing infrastructure and positioning for international scaling
Named Competitors
Veterinary Diagnostic Platforms — Large-cap animal health conglomerate with extensive diagnostic and pharmaceutical offerings
Veterinary Therapeutics — Veterinary pharmaceutical and therapeutic product manufacturer
Veterinary Practice Software/Devices — Strategic partner and competitor for veterinary practice technology solutions
Recent Developments
(November 2025) Achieved ISO 13485:2016 certification for manufacturing facilities in Plymouth, Minnesota and Roswell, Georgia
(November 2025) Launched Assisi Loop Lounge tPEMF therapy bed for small animals with lifetime warranty