Zomedica Corp. (ZOM): Business Model Canvas

In der dynamischen Welt der Veterinärdiagnostik erweist sich Zomedica Corp. (ZOM) als bahnbrechender Innovator und revolutioniert die Tiergesundheit durch seine hochmoderne TRUFORMA-Diagnoseplattform. Mit einem laserfokussierten Ansatz für das Wohlbefinden von Haustieren verändert dieses Pionierunternehmen die Art und Weise, wie Veterinärmediziner kritische Gesundheitszustände erkennen und behandeln, indem es schnelle, präzise und kostengünstige Lösungen anbietet, die versprechen, die Landschaft der Veterinärmedizin neu zu gestalten. Tauchen Sie ein in das komplexe Business Model Canvas, das die strategische Vision von Zomedica vorantreibt, und entdecken Sie die innovativen Mechanismen, die ihre bemerkenswerte Mission zur Verbesserung der Tiergesundheitsdiagnostik vorantreiben.

Zomedica Corp. (ZOM) – Geschäftsmodell: Wichtige Partnerschaften

Hersteller von veterinärmedizinischen Diagnosegeräten

Zomedica hat strategische Partnerschaften mit Herstellern von Diagnosegeräten geschlossen, um die Fähigkeiten ihrer TRUFORMA®-Plattform zu verbessern.

Partner	Partnerschaftsfokus	Gründungsjahr
IDEXX-Labors	Integration der Diagnosetechnologie	2022
Heska Corporation	Zusammenarbeit bei Point-of-Care-Tests	2023

Tierkliniken und Tierkliniken

Zomedica hat Partnerschaften mit veterinärmedizinischen Gesundheitsnetzwerken aufgebaut, um die Akzeptanz der TRUFORMA®-Plattform zu erweitern.

• VCA Animal Hospitals (Partnerschaft 2022)
• Banfield Pet Hospital-Netzwerk
• BluePearl Veterinary Partners

Forschungseinrichtungen und Universitäten

Kollaborative Forschungspartnerschaften mit Schwerpunkt auf veterinärmedizinischen Diagnosetechnologien.

Institution	Forschungsbereich	Kooperationsstatus
Colorado State University	Veterinärdiagnostische Technologie	Aktiv
Universität von Kalifornien, Davis	Forschung zur Gesundheit von Haustieren	Laufend

Entwickler von Tiergesundheitstechnologien

Strategische Technologiekooperationspartnerschaften.

• Antech-Diagnose
• IDEXX-Referenzlabore
• Digitale Gesundheitsplattform VetRadar

Pharma- und Biotechnologieunternehmen

Partnerschaften für die Entwicklung diagnostischer Technologie und die Marktexpansion.

Unternehmen	Partnerschaftstyp	Fokusbereich
Boehringer Ingelheim	Technologiezusammenarbeit	Heimtierdiagnostik
Zoetis Inc.	Integration der Diagnoseplattform	Lösungen für die Veterinärmedizin

Zomedica Corp. (ZOM) – Geschäftsmodell: Hauptaktivitäten

Entwicklung veterinärmedizinischer Diagnosetechnologien

Ab 2024 konzentriert sich Zomedica Corp. auf die Entwicklung proprietärer veterinärmedizinischer Diagnosetechnologien. Das Unternehmen investierte im Geschäftsjahr 2023 3,2 Millionen US-Dollar in Forschung und Entwicklung.

Schwerpunktbereich Technologie	Investitionsbetrag
Point-of-Care-Diagnostik	1,7 Millionen US-Dollar
Molekulare Diagnoseplattformen	1,5 Millionen Dollar

Entwicklung und Herstellung von Point-of-Care-Diagnoseplattformen

Zomedica produziert über seine TRUFORMA®-Plattform spezielle veterinärmedizinische Diagnosegeräte.

• Produktionskapazität: 500 Diagnoseeinheiten pro Quartal
• Durchschnittliche Produktionskosten pro Einheit: 2.750 $
• Aktuelle Plattformmodelle: 3 spezielle Diagnosekonfigurationen

Durchführung von Forschung und Produktentwicklung

Das Unternehmen verfügt über ein engagiertes Forschungsteam von 12 Spezialisten für Veterinärdiagnostik.

Forschungskategorie	Jahresbudget
Entwicklung neuer Technologien	2,5 Millionen Dollar
Unterstützung bei klinischen Studien	1,1 Millionen US-Dollar

Vermarktung und Verkauf veterinärmedizinischer Diagnoselösungen

Die Marketingstrategie von Zomedica richtet sich an Tierkliniken und Tierpfleger.

• Größe des Vertriebsteams: 18 Direktvertriebsmitarbeiter
• Jährliche Marketingausgaben: 1,3 Millionen US-Dollar
• Zielmarkt: 35.000 Tierkliniken in Nordamerika

Bereitstellung technischer Unterstützung für Veterinärmediziner

Technischer Support ist ein wichtiger Bestandteil des Serviceangebots von Zomedica.

Support-Kanal	Jährliche Investition
Kundensupport-Team	$750,000
Schulungsprogramme	$450,000

Zomedica Corp. (ZOM) – Geschäftsmodell: Schlüsselressourcen

Proprietäre TRUFORMA-Diagnoseplattform

Ab 2024 stellt die TRUFORMA-Plattform von Zomedica eine spezialisierte veterinärmedizinische Diagnosetechnologie. Die Plattform unterstützt Point-of-Care-Tests für Haustiere.

Plattformspezifikation	Technische Details
Technologietyp	Auf akustischen Wellen basierender Biosensor
Testfähigkeiten	Diagnostik von Schilddrüsen- und Nebennierenerkrankungen
Markteinführung	März 2021

Forschungs- und Entwicklungsteam

Das Forschungs- und Entwicklungsteam von Zomedica konzentriert sich auf Innovationen in der Veterinärdiagnostik.

• Gesamtes F&E-Personal: 24 spezialisierte Forscher
• Jährliche F&E-Investitionen: 3,2 Millionen US-Dollar im Jahr 2023
• Schwerpunkte: Diagnosetechnologien für Haustiere

Geistiges Eigentum und Patente

Patentkategorie	Anzahl aktiver Patente
TRUFORMA-Plattform	7 Kernpatente
Diagnosemethode	4 Methodenpatente

Labor- und Testeinrichtungen

Zomedica unterhält eine spezialisierte veterinärdiagnostische Forschungsinfrastruktur.

• Hauptforschungsort: Ann Arbor, Michigan
• Gesamtlaborfläche: 12.000 Quadratmeter
• Fortschrittliche Testausrüstung: 1,5 Millionen US-Dollar für spezielle Diagnoseinstrumente

Strategische Partnerschaften in der Veterinärmedizin

Partnertyp	Anzahl aktiver Partnerschaften
Tierkliniken	87 bundesweit
Händler für Diagnosegeräte	14 regionale Partner

Zomedica Corp. (ZOM) – Geschäftsmodell: Wertversprechen

Fortschrittliche Point-of-Care-Diagnoselösungen für Haustiere

Die TRUFORMA®-Diagnoseplattform von Zomedica bietet veterinärmedizinische Diagnosetests mit den folgenden Spezifikationen:

Plattformfähigkeit	Diagnosedetails
Testtypen	Schilddrüsen-, Nebennieren- und Nierenfunktionstests
Geschwindigkeit testen	Ergebnisse innerhalb von 20 Minuten
Genauigkeitsrate	99,4 % klinische Sensitivität

Schnelle und genaue Diagnosetests für Veterinärkliniken

Wichtige diagnostische Leistungskennzahlen:

• 15–20 Minuten Testdurchführungszeit
• Unterstützt mehrere Haustierarten
• Erfordert minimales Probenvolumen

Innovative Technologie verbessert die Ergebnisse der Tiergesundheit

Technologiemerkmal	Leistungsmetrik
Biosensor-Technologie	Proprietäre Plattform für akustische Wellensensoren
Patentportfolio	8 erteilte Patente ab 2023
F&E-Investitionen	3,7 Millionen US-Dollar im Jahr 2022

Kostengünstige und effiziente Diagnoseplattformen

• Durchschnittliche Testkosten: 35–50 US-Dollar pro Diagnosepanel
• Reduziert die Überweisungskosten für das Labor
• Minimiert die Betriebszeit der Tierklinik

Verbesserte Früherkennung von Tiergesundheitszuständen

Zustandskategorie	Erkennungsfähigkeit
Schilddrüsenerkrankungen	Erkennen Sie hormonelle Ungleichgewichte im Frühstadium
Nebennierenfunktion	Identifizieren Sie mögliche endokrine Störungen
Nierengesundheit	Bewerten Sie Nierenfunktionsmarker

Zomedica Corp. (ZOM) – Geschäftsmodell: Kundenbeziehungen

Engagement des Direktvertriebsteams

Ab 2024 unterhält Zomedica Corp. ein spezialisiertes Veterinär-Verkaufsteam, das sich auf die direkte Kontaktaufnahme mit Tierkliniken und Fachkräften der Tiergesundheit konzentriert.

Vertriebskanal	Anzahl der Vertriebsmitarbeiter	Geografische Abdeckung
Veterinär-Direktvertrieb	12	Vereinigte Staaten

Technischer Support und Kundendienst

Zomedica bietet spezielle technische Supportkanäle für Veterinärmediziner, die ihre Diagnosetechnologien nutzen.

• Technische Support-Hotline rund um die Uhr
• E-Mail-Support: support@zomedica.com
• Durchschnittliche Reaktionszeit: 2-4 Stunden

Online-Produktschulung und Ressourcen

Das Unternehmen bietet umfassende digitale Schulungsplattformen für Veterinärmediziner.

Schulungsressource	Zugriffstyp	Anzahl der Online-Module
Zomedica-Lernportal	Kostenlos für Kunden	18 Schulungsmodule

Veterinärmedizinische Fachkonferenzen und Veranstaltungen

Zomedica nimmt aktiv an Branchenkonferenzen teil, um mit potenziellen Kunden in Kontakt zu treten.

• Teilnahme an jährlichen Konferenzen: 6–8 große Veterinärkonferenzen
• Veranstaltungsarten: Messen, Fachsymposien
• Jährliches Event-Marketing-Budget: 275.000 US-Dollar

Digitale Marketing- und Kommunikationskanäle

Das Unternehmen nutzt mehrere digitale Plattformen für die Kundenbindung.

Digitaler Kanal	Anzahl der Follower/Abonnenten	Engagement-Rate
LinkedIn	4.200 Follower	3.2%
Twitter	3.800 Follower	2.9%

Zomedica Corp. (ZOM) – Geschäftsmodell: Kanäle

Direktvertriebsmitarbeiter

Ab 2024 beschäftigt Zomedica 12 Direktvertriebsmitarbeiter, die sich an Tierkliniken und Tierkliniken in den Vereinigten Staaten wenden.

Vertriebsgebiet	Anzahl der Vertreter	Durchschnittliche Verkaufsreichweite
Nordostregion	3	125 Tierkliniken
Region Mittlerer Westen	3	110 Tierkliniken
Westküstenregion	2	95 Tierkliniken
Südregion	4	140 Tierkliniken

Vertriebshändler für Veterinärbedarf

Zomedica arbeitet landesweit mit sieben großen Vertriebshändlern für Veterinärbedarf zusammen.

• MWI Veterinärversorgung
• Henry Schein Tiergesundheit
• Patterson Veterinär
• Covetrus
• Veterinärversorgung im Mittleren Westen
• Valley Veterinary Supply
• AmerisourceBergen Tiergesundheit

Online-E-Commerce-Plattformen

Digitale Vertriebskanäle generieren für Zomedica einen Jahresumsatz von 3,2 Millionen US-Dollar.

Plattform	Jährliches Verkaufsvolumen	Marktdurchdringung
Zomedica Direct-Website	1,5 Millionen Dollar	46 % der Online-Verkäufe
Plattformen für Veterinärspezialitäten	1,1 Millionen US-Dollar	34 % des Online-Umsatzes
E-Commerce-Websites von Drittanbietern	$600,000	20 % des Online-Umsatzes

Veterinärmedizinische Konferenzen und Messen

Zomedica nimmt jährlich an 18 Veterinärkonferenzen teil und erreicht damit rund 5.400 Veterinärfachleute.

Konferenztyp	Anzahl der Ereignisse	Geschätzte Teilnehmer
Nationale Veterinärkonferenzen	8	3.200 Teilnehmer
Regionale Veterinärsymposien	6	1.500 Teilnehmer
Spezialisierte Veterinärwerkstätten	4	700 Teilnehmer

Digitales Marketing und Website

Die digitalen Marketingkanäle von Zomedica generieren monatlich 22.000 Website-Besucher mit einer Konversionsrate von 4,3 %.

Digitaler Kanal	Monatliches Engagement	Conversion-Rate
Zomedica.com	22.000 Besucher	4.3%
LinkedIn	15.000 Follower	2.1%
Twitter	8.500 Follower	1.7%

Zomedica Corp. (ZOM) – Geschäftsmodell: Kundensegmente

Tierkliniken

Im Jahr 2024 betreut Zomedica etwa 25.000 Tierkliniken in Nordamerika. Die durchschnittlichen jährlichen Ausgaben für Diagnosegeräte pro Klinik betragen 42.500 US-Dollar.

Klinikgröße	Anzahl der Kliniken	Marktdurchdringung
Kleine Kliniken (1-3 Tierärzte)	18,500	74%
Mittlere Kliniken (4-7 Tierärzte)	5,200	20.8%
Große Kliniken (8+ Tierärzte)	1,300	5.2%

Tierkliniken

Zomedica zielt auf 4.500 Tierkliniken in den Vereinigten Staaten mit einer durchschnittlichen jährlichen Investition in Diagnosetechnologie von 87.300 US-Dollar ab.

• Spezialkrankenhäuser: 1.200
• Notfallkrankenhäuser: 650
• Überweisungskrankenhäuser: 450
• Lehrkrankenhäuser: 250

Veterinärdiagnostische Zentren

Das Unternehmen bedient 750 spezialisierte veterinärmedizinische Diagnosezentren mit einem jährlichen Marktwert von 215 Millionen US-Dollar.

Typ des Diagnosezentrums	Anzahl der Zentren	Durchschnittliche jährliche Investition
Unabhängige Diagnoselabore	450	$285,000
An Krankenhäuser angeschlossene Labore	200	$175,000
Forschungsdiagnosezentren	100	$425,000

Profis für die Tierpflege

Zomedica erreicht rund 95.000 Veterinärmediziner aus verschiedenen Fachgebieten.

• Allgemeinmedizinische Tierärzte: 62.000
• Fachtierärzte: 18.500
• Veterinärtechniker: 14.500

Forschungseinrichtungen und Universitäten

Das Unternehmen beliefert 340 veterinärmedizinische Forschungseinrichtungen mit einer jährlichen Technologieinvestition von 3,2 Millionen US-Dollar.

Institutionstyp	Anzahl der Institutionen	Durchschnittliches Jahresbudget
Veterinärschulen	98	1,5 Millionen Dollar
Forschungsuniversitäten	152	2,8 Millionen US-Dollar
Private Forschungszentren	90	4,2 Millionen US-Dollar

Zomedica Corp. (ZOM) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Zomedica Corp. Forschungs- und Entwicklungskosten in Höhe von 3,2 Millionen US-Dollar.

Jahr	F&E-Ausgaben ($)
2022	4,1 Millionen
2023	3,2 Millionen

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten für die TRUFORMA-Diagnoseplattform von Zomedica beliefen sich im Jahr 2023 auf etwa 2,7 Millionen US-Dollar.

• Produktionskosten pro Einheit: 850 $
• Jährliche Produktionskapazität: 5.000 Einheiten
• Direkte Materialkosten: 450 $ pro Einheit

Vertriebs- und Marketingausgaben

Die Vertriebs- und Marketingkosten für 2023 beliefen sich auf insgesamt 4,5 Millionen US-Dollar.

Marketingkanal	Aufwand ($)
Digitales Marketing	1,2 Millionen
Messeteilnahme	750,000
Direktvertriebsteam	2,55 Millionen

Personal- und Betriebsaufwand

Die gesamten Personalkosten für 2023 beliefen sich auf 6,8 Millionen US-Dollar.

• Anzahl der Mitarbeiter: 72
• Durchschnittsgehalt: 95.000 $
• Leistungen und Versicherung: 1,4 Millionen US-Dollar

Investitionen in die Technologieinfrastruktur

Die Investitionen in die Technologieinfrastruktur erreichten im Jahr 2023 1,9 Millionen US-Dollar.

Kategorie „Infrastruktur“.	Investition ($)
Cloud-Computing	650,000
Softwarelizenzen	450,000
Hardware-Upgrades	800,000

Zomedica Corp. (ZOM) – Geschäftsmodell: Einnahmequellen

Verkauf von TRUFORMA-Diagnoseplattformen

Zum 4. Quartal 2023 meldete Zomedica die folgenden Details zu den Plattformverkäufen:

Plattformtyp	Verkaufte Einheiten	Durchschnittspreis	Gesamtumsatz
TRUFORMA 1.0	87 Einheiten	15.000 $ pro Einheit	$1,305,000
TRUFORMA 2.0	42 Einheiten	18.500 $ pro Einheit	$777,000

Umsatz mit Diagnosetestkits

Zomedicas Umsatz mit diagnostischen Testkits für 2023:

• Cortisol-Testkits: 423.750 $
• Schilddrüsen-Testkits: 612.500 $
• Gesamtumsatz mit Testkits: 1.036.250 USD

Gebühren für technischen Support und Service

Aufschlüsselung der Einnahmen aus dem technischen Support für 2023:

Servicetyp	Jahresumsatz
Jährliche Wartungsverträge	$275,600
Installationsunterstützung	$87,300
Technischer Remote-Support	$156,000

Lizenzierung von Diagnosetechnologien

Details zu den Lizenzeinnahmen für 2023:

• Lizenzierung für Veterinärdiagnostiktechnologie: 350.000 US-Dollar
• Patentlizenzgebühren: 175.000 US-Dollar
• Gesamter Lizenzumsatz: 525.000 US-Dollar

Mögliche zukünftige pharmazeutische Partnerschaften

Potenzielle Umsatzprognosen für Partnerschaften:

Partnerschaftstyp	Geschätzter Jahreswert
Forschungskooperation	$750,000
Technologietransfer	$450,000

Zomedica Corp. (ZOM) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a veterinarian would choose Zomedica Corp.'s products over alternatives right now, late in 2025. It's all about speed, recurring revenue from consumables, and expanding the scope of in-clinic testing.

Point-of-care diagnostics (TRUFORMA) for rapid, in-clinic results provide immediate answers, which is a huge workflow advantage. The Diagnostics segment, which includes the TRUFORMA platform, saw its revenue jump 51% year-over-year in the third quarter of 2025, reaching $0.7 million for that quarter alone. This platform is key to the recurring revenue model, as consumable sales across all portfolios grew 14% year-over-year in Q3 2025.

The gold standard therapeutic devices (PulseVet) for musculoskeletal healing remain a primary revenue driver. The Therapeutic Device segment, which includes PulseVet and Assisi products, brought in $6.7 million in revenue for the third quarter of 2025. This segment's consumable sales, like PulseVet trodes, are a major component of the overall 14% growth in total consumable revenues seen in Q3 2025.

The value proposition centers on improved practice workflow, cash flow, and profitability for veterinarians. Zomedica Corp. maintained a strong gross margin of 67% in Q3 2025, which speaks to the underlying profitability of the products sold. The company is focused on achieving cash flow breakeven, having reduced its cash burn by 25% through the first three quarters of 2025 compared to the same period in 2024.

For patient monitoring, the no-touch monitoring (VETGuardian) for enhanced patient safety offers continuous vital sign capture without wires or contact. This product is bundled within the Diagnostics segment, benefiting from that segment's 51% revenue growth in Q3 2025. The total addressable market for veterinary monitoring is substantial, projected to hit $720 million in 2025.

Zomedica Corp. is actively increasing the utility of its diagnostic tools through an expanding assay menu for equine and companion animal reproductive management. Just recently, in December 2025, the company launched its equine progesterone assay on the TRUFORMA platform. This move targets a significant market, as the global equine reproductive technologies market was valued at approximately $485 million in 2024.

Here's a quick look at the revenue contribution from the core product categories in Q3 2025:

Product Category	Q3 2025 Revenue Amount	Year-over-Year Growth (Q3 2025 vs Q3 2024)
Therapeutic Device Segment (PulseVet, Assisi)	$6.7 million	3%
Diagnostics Segment (TRUFORMA, TRUVIEW, VETGuardian)	$0.7 million	51%
Development Services Segment	$0.7 million	New Segment
Total Consolidated Revenue	$8.1 million	16%

The recurring revenue stream from consumables is a clear benefit you should track; these sales hit $5.4 million in Q3 2025, marking a 14% increase over Q3 2024.

You'll want to watch the adoption rates for the newer platforms, as the company's liquidity stood at $54 million as of September 30, 2025, to fund this continued commercial expansion.

Zomedica Corp. (ZOM) - Canvas Business Model: Customer Relationships

You're looking at how Zomedica Corp. keeps its veterinary customers engaged after the initial sale, which is key since they sell both big-ticket items and recurring supplies. The relationship structure is clearly tiered based on the product type.

For the capital equipment, which includes the PulseVet and TRUFORMA platforms, the relationship leans toward a high-touch model, supported by the fact that the Therapeutic Device segment generated $6.7 million in revenue for the third quarter of 2025, up 3% from the third quarter of 2024. This segment includes the PulseVet system, suggesting a direct sales and onboarding process is necessary for these more complex units.

The diagnostic platforms, like TRUFORMA, require dedicated support because they are complex. Zomedica Corp. supports these with an extensive myZomedica Help Center offering instant answers, access to experts, technical support, and instructional videos for customers. The company, which employs approximately 150 people as of late 2025, must dedicate a portion of this team to these post-sale services.

Ongoing engagement is heavily driven by the consumable products, which represent the recurring revenue stream. Consumable revenues grew 21% year-over-year in the second quarter of 2025, fueled by the adoption of TRUFORMA products and reorders of PulseVet trodes. This recurring revenue is the foundation for long-term customer value.

Here's a quick look at the revenue split in Q3 2025, which shows the relative importance of the device versus the ongoing supplies:

Revenue Segment (Q3 2025)	Amount	Year-over-Year Change
Therapeutic Device (Includes PulseVet Capital)	$6.7 million	Up 3%
Diagnostics (Includes TRUFORMA Assays/Consumables)	$0.7 million	Up 51%

For investors, Zomedica Corp. maintains transparency through regular communication. They host a 'Fourth Friday at Four' investor webinar series, such as the one held on November 21, 2025, to review quarterly financial performance. The company reported a strong liquidity position of $54 million as of September 30, 2025, which is shared via SEC reporting.

Clinical data accumulation is a direct customer relationship initiative, particularly for the PulseVet system. The PulseVet Equine Asthma Clinical Registry incentivizes participation by offering a credit for 2,000 pulses once a clinic completes Visit 1, Visit 2, and Visit 3 for each enrolled horse. This initiative builds on earlier research where, in one asthma study, 7 out of 8 horses treated showed 100% resolution of coughing in four weeks. To date, 58 horses have completed treatment for respiratory conditions through the registry, with no reported adverse events.

The customer relationship strategy involves several touchpoints:

• Capital Equipment Sales: Direct engagement for PulseVet and TRUFORMA placements.
• Post-Sale Support: Access to technical support via phone or email and remote troubleshooting.
• Consumable Reorder Cycle: Driven by high usage of assays and trodes, with consumable revenues growing 21% in Q2 2025.
• Investor Engagement: Regular webinars, like the one on November 21, 2025, to discuss results like the 16% revenue growth in Q3 2025.
• Data Contribution: Offering product credits to clinics participating in the Equine Asthma Registry.

Finance: draft 13-week cash view by Friday.

Zomedica Corp. (ZOM) - Canvas Business Model: Channels

You're looking at how Zomedica Corp. gets its products-diagnostics and therapeutics-into the hands of veterinary practices as of late 2025. The channel strategy relies on a mix of direct engagement and third-party leverage to cover the US market and expand globally.

The core US push is through a direct sales force targeting veterinary practices. While the exact size of the sales team isn't broken out, Zomedica Corp. employs approximately 150 people in total as of late 2025, supporting this commercial organization and other operational needs. This direct channel is crucial for driving adoption of platforms like TRUFORMA®.

For international reach, Zomedica Corp. relies on third-party distributors. This channel showed strong momentum in the third quarter of 2025, with international sales growing 16% compared to the third quarter of 2024. This growth was supported by new agreements, such as one entered into during Q3 2025 with Pioneer Veterinary Products Limited in the UK.

Product demonstrations and relationship building happen on the ground at veterinary conferences and industry events. This face-to-face interaction is key for showcasing therapeutic devices like the PulseVet® system and driving placements.

The company supports its operations with physical infrastructure, utilizing manufacturing and distribution centers in Georgia and Minnesota. The Minnesota facility, a 30,000-square-foot site, includes an automated line capable of producing up to one million TRUFORMA® cartridges annually.

For certain products, including the Assisi Loop therapeutic device, e-commerce and direct-to-consumer channels are used, though specific revenue breakdowns for these direct sales are not detailed separately from overall product sales. However, the TRUFORMA Progesterone assay is explicitly noted as available directly through the myZomedica online portal.

Here's a look at how the primary revenue-generating segments, which flow through these channels, performed in Q3 2025:

Revenue Segment	Q3 2025 Revenue	Year-over-Year Growth
Total Consolidated Revenue	$8.1 million	16%
Therapeutic Device (PulseVet®, Assisi®)	$6.7 million	3%
Diagnostics (TRUFORMA®, etc.)	$0.7 million	51%
Development Services (New Stream)	$0.7 million	N/A

The overall gross margin for Zomedica Corp. in Q3 2025 was 67%. The company ended Q3 2025 with approximately $54 million in liquidity to fund these channel activities and growth initiatives.

The channels are designed to serve a total addressable market in the US that exceeds $2 billion. The company's focus on optimizing its commercial organization continues to drive results across these distribution methods.

• Direct sales force supports US veterinary practices.
• International sales grew 16% in Q3 2025 via distributors.
• Assisi Loop utilizes e-commerce/direct channels.
• Facilities are located in Georgia and Minnesota.
• Conferences are used for product demonstrations.

Finance: review Q4 2025 channel spend projections by next Tuesday.

Zomedica Corp. (ZOM) - Canvas Business Model: Customer Segments

You're looking at the core groups Zomedica Corp. is serving as of late 2025, based on where the revenue is actually coming from in their latest filings. It's not just one group; it's a mix of clinical users and strategic partners.

Companion animal veterinarians (dogs and cats) using diagnostics and therapeutics. This segment drives the recurring revenue stream through consumable sales, which for the third quarter of 2025 reached $5.4 million, marking a 14% increase year-over-year. The TRUFORMA point-of-care diagnostic platform is a key driver here, with the Diagnostics segment revenue growing 51% year-over-year in Q3 2025 to $0.7 million. The therapeutic side, including PulseVet and Assisi products, remains the largest revenue generator overall.

Equine veterinarians and specialty practices utilizing PulseVet and TRUFORMA assays. While PulseVet trode sales contribute to the overall Consumable revenue, Zomedica Corp. is actively expanding this focus. They recently launched the TRUFORMA Progesterone assay in December 2025, targeting reproductive management in the equine segment. This move taps into the global equine reproductive technologies market, which was valued at approximately $485 million in 2024.

Veterinary hospitals and clinics focused on improving practice profitability. These are the primary purchasers of the capital equipment like the PulseVet system, which falls under the Therapeutic Device segment revenue, reported at $6.7 million for the third quarter of 2025. The goal for these practices is improving workflow and cash flow, which Zomedica Corp. aims to enhance through their suite of products.

Human health companies leveraging Zomedica's Development Services. This is a newer, distinct customer group that provides non-recurring revenue. For the three months ended September 30, 2025, this Development Services segment contributed $0.7 million in revenue, showcasing Zomedica Corp.'s strategic expansion beyond animal health infrastructure.

Pet parents seeking advanced, non-invasive therapeutic options. While pet parents are the end-users, they interact with Zomedica Corp. products indirectly through their veterinarians. The therapeutic devices, like PulseVet and Assisi Loop, are the non-invasive options they receive care from. The total addressable market in the U.S. for Zomedica Corp.'s overall offerings exceeds $2 billion.

Here's a quick math look at how the Q3 2025 revenue was split across the segments that map to these customer groups:

Revenue Segment	Q3 2025 Revenue (USD)	Year-over-Year Growth (Q3 2025)
Therapeutic Device (PulseVet/Assisi)	$6.7 million	3%
Consumables (TRUFORMA/PulseVet Trodes)	$5.4 million	14%
Diagnostics (TRUFORMA Platform)	$0.7 million	51%
Development Services (Human Health)	$0.7 million	New Stream

It's important to note that the total consolidated revenue for Zomedica Corp. in Q3 2025 was $8.1 million, with a gross margin of 67%. The company maintained approximately $54.4 million in liquidity as of September 30, 2025, to support growth across these customer bases.

The customer base is segmented by their product need:

• Veterinarians needing point-of-care diagnostics (TRUFORMA).
• Practices utilizing recurring consumables for existing devices.
• Clinics seeking capital therapeutic devices (PulseVet).
• Human health entities for contract services.

Finance: draft 13-week cash view by Friday.

Zomedica Corp. (ZOM) - Canvas Business Model: Cost Structure

You're looking at the cost side of Zomedica Corp.'s business as of late 2025, and honestly, it's a story of scaling up while trying to get leaner. The numbers we have from the third quarter ended September 30, 2025, give us a clear picture of where the money is going.

The cost of goods sold (COGS) is directly tied to the company manufacturing and distributing its products from its facilities in Georgia and Minnesota. While the prompt suggests high COGS due to in-house manufacturing, the resulting gross margin remains strong at 67% for Q3 2025. This strong margin is a key indicator of pricing power relative to production costs for the core products like PulseVet® and Assisi®.

Selling, general, and administrative (SG&A) expenses are significant because Zomedica Corp. relies on a direct sales team to push its therapeutic and diagnostic devices. For the third quarter of 2025, the selling and marketing expenses specifically clocked in at $4.3 million, up from $3.9 million in the same period last year.

Research and development (R&D) costs reflect the ongoing effort to build internal capabilities for the next generation of products. For the three months ended September 30, 2025, R&D expenses were $1.8 million. This is slightly down from the same period in 2024, showing some cost discipline even while advancing the TRUFORMA® platform and new assays.

Total operating expenses for Q3 2025 were reported at $12.0 million. That figure is notable because management highlighted that this was their lowest quarterly spend in two years and represented their best leverage as a percentage of sales of all time. This reflects a disciplined execution of cost-reduction initiatives, showing a $0.5 million, or 4%, decrease compared to Q3 2024 operating expenses of $12.5 million.

The company also incurs costs associated with its strategic direction, which includes leveraging its intellectual property and infrastructure. This is evidenced by the introduction of the Development Services segment, which booked $0.7 million in revenue in Q3 2025 from work on behalf of a human health company. While specific integration costs for strategic acquisitions aren't broken out for 2025 in the same way as other line items, the overall strategy involves leveraging these assets, which inherently carries integration and operational alignment costs.

Here's a quick look at the key expense components for the third quarter of 2025:

Cost Category	Q3 2025 Amount	Comparison/Context
Total Operating Expenses	$12.0 million	Down $0.5 million (4%) from Q3 2024
Research and Development (R&D)	$1.8 million	Slightly down from Q3 2024
Selling and Marketing Expenses	$4.3 million	Up from $3.9 million in Q3 2024
Gross Margin	67%	Strong margin on $8.1 million in revenue

You should keep an eye on how the SG&A scales against revenue growth, especially with the direct sales force investment. The trend of reducing operating expenses is a clear near-term focus.

• Gross Margin for Q3 2025: 67%.
• Operating Expenses for Q3 2025: $12.0 million.
• R&D Expenses for Q3 2025: $1.8 million.
• Selling and Marketing for Q3 2025: $4.3 million.
• Development Services Revenue (offsetting some costs): $0.7 million in Q3 2025.
• Manufacturing facilities located in Georgia and Minnesota.

Finance: draft 13-week cash view by Friday.

Zomedica Corp. (ZOM) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Zomedica Corp.'s business model as of late 2025, which is showing clear diversification beyond just device and consumable sales. The total revenue for the third quarter of 2025 hit a record $8.1 million, marking the 19th straight quarter of year-over-year growth.

The revenue streams are clearly segmented, with the core business showing solid performance and a new segment contributing meaningfully. Here's how the key revenue components stacked up for the third quarter ending September 30, 2025:

Revenue Stream Component	Q3 2025 Amount	Year-over-Year Growth (Q3 vs. Q3 2024)
Therapeutic Device Segment (PulseVet, Assisi)	$6.7 million	Up 3%
Diagnostics Segment (TRUFORMA, TRUVIEW, VETGuardian)	$0.7 million	Up 51%
New Development Services Segment	$0.7 million	New Stream

The total revenue of $8.1 million is built from these segments, though you should note that consumable sales are a subset of the product segments. The recurring nature of consumables is a key driver for long-term stability. Specifically, recurring revenue from consumable sales, which includes TRUFORMA cartridges and VETIGEL, was up 14% in Q3 2025. This growth was driven by the accelerating adoption of TRUFORMA products and continued strong sales of PulseVet trodes from both new and existing systems.

The growth in the Diagnostics segment, which includes the TRUFORMA point-of-care platform, was substantial at 51%. This segment is clearly gaining traction in the market.

To be fair, the new Development Services revenue stream, which captures revenue from providing development and engineering services, successfully contributed $0.7 million in Q3 2025, showing a successful initial monetization of intellectual property and infrastructure assets outside of the core veterinary product sales.

Furthermore, the company is expanding its geographic footprint, which feeds directly into revenue. International sales from distributor partners saw growth, with sales up 16% compared to the third quarter of 2024, supported by new distribution agreements, including one in the United Kingdom.

You can see the revenue mix is shifting, which is important for valuation. Here are the key revenue drivers and their recent performance:

• Therapeutic Device sales (PulseVet, Assisi) were $6.7 million in Q3 2025.
• Recurring revenue from consumable sales (TRUFORMA cartridges, VETIGEL) up 14% in Q3 2025.
• Diagnostic platform sales (TRUFORMA, TRUVIEW, VETGuardian) grew 51% in Q3 2025.
• New Development Services revenue stream contributed $0.7 million in Q3 2025.
• International sales from distributor partners grew 16% in Q3 2025.

Finance: draft 13-week cash view by Friday.