Zomedica Corp. (ZOM) Stock on a Precipitous Rise, Here’s Why

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BMO Stock
BMO Stock

Zomedica Corp. (ZOM), a veterinary health company, has surged 15.92% in aftermarket trading session. As a result, the stock is trading at $0.40 at the time of the writing. During Friday’s regular trading session, the stock declined by 3.32 percentage points and closed the day at $0.35. The stock is on the rise in the aftermarket owing to the announcement of financial results.

Revenue and Gross Margin Results

On Friday, ZOM reported the revenue and gross margin for Q4 2021 and FY 2021. The company generated $4.1 million in terms of total revenue during Q4 and FY 2021. Compared to that, during Q4 and FY 2020, the company generated $0 in terms of total revenue. The company said that the gross margin was to be 73.9%. At the end of the year, the company had $195 million in terms of cash and cash equivalents.


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New Leader of Sales Organization

On the 15th of February, ZOM announced that the Vice President and General Manager of the company, Adrian Lock, would lead the sales organization of the company. The sales organization includes sales management, field sales personnel, and professional service veterinarians. Chief Executive Officer of Zomedica, Larry Heaton, commented that Adrian is the best fit to lead the company’s burgeoning sales team.

ZOM Added to Management Team

On the 9th of February, ZOM announced that it was adding new individuals to its management team. Tony Blair joined the company as the Executive Vice President, Operations, on the 2nd of January 2022. In the role of Vice President, Human Resources, Kristin Domanski became part of the company on the 24th of January 2022. Nicole Westfall became a part of the company on the 7th of February 2022 as Vice President, Marketing. Alongside, Evan Saint-Peter got promotion as Vice President, Technology Innovation.

Future Outlook for ZOM

Looking ahead, analysts are of the view that even though ZOM stock holds several positive signals at the moment, they are not enough for it to be considered as a buy candidate. Hence, at the current level, the investors should hold the stock while waiting for any further development.

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