questions. business, start your results. remarks, Donato, update our like an by the our I'd the good phone our on open welcome Mike. Thanks, Zomedica and Peter all call. others results web we'll business I'll to and first afternoon, update today for to Financial your our Chief a After the Officer, will and and overall the to through providing you prepared walk by then thanking prospective financial investors earnings our analysts quarter shareholders and support. start Wish line
products, first $X.X record-setting for we in today, continued our just XXXX Revenue year-over-year product further in XXXX in same the build of first of increases we quarter portfolio. Device first XX% So the first to growth strategy during reflecting fuel Zomedica to the resulted higher of quarter history. quarter Diagnostic validating its the rate in company the was our growth for expansion With Therapeutic momentum the quarter of innovative the XXXX. just from released was than over strongest which and our growth we segments through a bit million, XXXX. financial and quarter both earlier the a results on over our Overall, saw of generated
this expect year. during to growth the of accelerate We year-over-year rate
earnings during last to a initiatives. number and today, strategic I'll beyond. we our on an those road the made our map laid drive During progress out XXXX call, provide update on growth we've of And
I'll of start Head Organization. with last Commercial Sales. new year, our recruited industry we Late a veteran
of optimize taking our growth has to commercial During accelerating the to success strategy and portfolio. product beyond, of steps to the ensure quarter, through the first the he balance our sales force. respect drive recently been With year tactics to and direct expanded our U.S. long-term
of positive for in now We a benefits role maturing rep team year. continue to their our see sales been having average our with the over
bringing additional our penetration successfully penetration Zomedica the to our for of increasing [indiscernible] developed benefits into opportunities. The Zomedica of small to cross-selling allowed practices, utilization on base. products with the furthering of animal impact the into our we've veterinarians practice, through With their and veterinarian customers has educate our representatives of existing we're date, their products customer technologies seeing trust within
and about is just Another generate in selling expansion. currently international our PulseVet markets. commercial revenue XX% of of international by continued our We certain RSCC initiatives products
be launch include just international TRUVIEW's minute, TRUFORMA, followed both efforts expanding a near I'll and our in in little discuss later VetGuardian detail the to international more in we'll this As commercialization a term, year. by
each product within our of update on key Assisi I'll with progress made start lines. family of an the Loop to Turning products.
new Field expanding them, products Technology XX PulseVet this distributors channels products DentaLoop, launching through adding markets quarter. beyond online additional current LoopLounges distributors, Pulsed and as our we continues on Canine and Electromagnetic into [indiscernible] this addition Loop establish and Devices. additional targeted Work the into Amazon to international the innovative Loops, products proprietary existing In Assisi also to we're to our Assisi
systems PulseVet. our of practices. for of of The veterinarian Now primary driver within growth the is PulseVet base installed with growth
first customers end have we States in systems the as over of all As now around XX United active states across countries use spread quarter, well world. the as X,XXX the the of in XX by
practices, indications As base us clinical of expect marketing increased to veterinarians, those their consumables. support allowing reach drive more to to utilization to our many gains small maturing gain animal use. extend quality help In we're in to research installed field sales continue entree to the of we and experience develop to grow our our efforts, organization and for continue the into efforts expand high-margin new working
were For bleeders and more peer-reviewed recently, Therapy studies published multiple Shockwave afflicted for that an working optimal suffering reports myopathy horses example, from has quarter, during reinforced and asthma. fibrotic with PulseVet the being dogs clinical for of solution first equine
PulseVet to of delay onset the In publication dogs. effectively the even evaluating addition, eagerly studies we're osteoarthritis awaiting or of of the potential prevent multiple in
drive With hand, the team cases of our untapped proven PulseVet these to in studies usage. use benefits increased help these can across marketing translate
outside turn key the securing into commercial introduce Mark a region, to cytoscopy be working With would market for significantly markets. launch we're expect of TRUVIEW. driver A is that to allowed expanding hand, Mark international the opportunity let's be our CE throughout achieved CE growth TRUVIEW To facilitate U.S. European on platform Now digital our in and Certification soon. the that, TRUVIEW we
currently for of images, this TRUVIEW excited of AI scan system the reports currently to a are telepathology the development of that This revenue. of Another monthly revenue later charges being are new launch generating on-demand images reports add that subscriptions to year. will the with by about complement in-office viewing we introduction pathology source is recurring expect which and and and will we're interpretations provided
forward Now product. new to with we our foot customers, with always especially best want put the
collaboratively we've a enhancements result us the customer early with And AI so several bit a with work system limited the customers, has service. TRUVIEW feedback. as addition to and launch pending of our This we've to of just the activities adopting interpretation allowed incorporated
Now turning on TRUFORMA. update made to with the progress an
uptick We continue of base. to increases encouraged seeing our growing we're in an in as the installed be by adoption TRUFORMA
Importantly, we're seeing we practices. of used by publication the both vet portfolio as which gold mid-March, supporting of hyperthyroidism current animal penetration are TRUFORMA our announced platform, feline globally. growing veterinary of practices In research small the into expansion for reference the compared diagnosis capabilities equine benefit and we the standard assays, across to labs equine the widely specifically from
early that findings assay hyperthyroidism. assay concluded publication Not terms the could TRUFORMA only the in of of results fee hybrid in of identifies gold do It the more the its authors cats value to current of avoid deliver TRUFORMA more accurately improving fibroids our standard, diagnosis line the sent thereby these highlight reference ability and do accurate XX than The minutes amount time economic veterinarian's results highly out the veterinary a when clinic. a can Saving than clinical need of are so that to about platform to to and make attempting have the bring significant a to benefits eliminating in less lab. by samples and a within practice. encouraging diagnosis the These validate misdiagnosis,
XXXX X to things was the us commercialization of at developer benefits commercialization Biotechnologies, during new new of TRUFORMA and and core from the the of development improve assays to new of original of the of launch acquisition and of customers the animals and least number that the enabled of we the of a small accelerate assays, development year it. horses. course QBT during the ability do assays our to our value for can both But and derive Qorvo platform acquisition beyond to expect One
share the seeing definitely investments like getting to you're Since reflected us. and we're expenses our are in overall those what operating investments margins, I'd making
First, X [ what we ] our upgrades. call res
our and last assays the year. combination multiplex quarter of or fourth As including you know, both we launched Cobalamin in first Folate cartridge,
necessitated this assays a upgrading the our field to combining accommodate instruments to up in Now cartridge. existing in single TRUFORMA X
for resonators assays all X upgraded all for We've installed X new the our stands get plus now X new of RES, nearly model. resonators. and control. For base X existing placements equals
cartridges ACTH, Folate balance X been This addition, Cobalamin the assays to the our RES revision pancreatic with in lipase, and that work In revised existing the now. of being of with canine Cortisol, environment. required menu has accomplished each
with future we versus placements, for were for of Omnia shelf number ready the to leveraging instruments all the We're monetization. business than ones TRUFORMA use rest and Rather are acquired component version oriented we demand the a money Second, the of parts. which of them human capable. from assets them instrument. the of on keep human to converting TRUFORMA all our save manufacturing When new growing into for significant RES QBT, the allowing meet human intended us instruments, X of received
reference ranges capability Third, update provide needed for clinical time we the et to support, new software appropriate and new a assay, over-the-air updates. installed is base our assay the launch to run Each add cetera. and a
new the sales our expect to of on in-person the Demonstrating to apply delivery now, we'll a required over-the-air dedication Diagnostic assays update a TRUFORMA we with our of to has this who the our when upgrade available be will stick up team to accelerating USB with is an Now software customers the prompted able on from platform. device be update update Shortly, highly the button. and a firmware then software. visit push capabilities to beneficial and to software release
assays assays enhancements further as reduced well customers. These timely provide delivering for launched efficient newly of adoption as capabilities for customer existing barriers means for to
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microfluidics an optimizations range. team new assays. discovered of our be of existing developing expansion immunologists and While to Zomedica's have Including applied specialized assays, that the can engineers dynamic
improve developed. Canine they we during for that launch extend as our quarter, second utility will example, popular will diagnostic the and dynamic the to of most and improvement assays, X an accuracy, For precision are others which Cortisol expect range
expiration we first on contribute the use which basis be both sizes improving to relatively an cartridges are margins. to finally, When while extend extend of development they ongoing new by work dating. to Also, larger which scrap continues costs, the lot release, a allows dating, have worrying our of can for about limited assays. not And date, produced,
in of the efforts dogs important cats, Of and for development of most assays is recently, new course, more horses. our the
to least horses launch assays cats for for launch expect and year with X more development in dogs many X X with at for this new X for year. assays We next
With benefits offerings, from come to and are TRUFORMA that expect platform planned and the can very forward. our and the spent, we what represent money as investments see that is we we these well improvements about to added you excited move
an VetGuardian. on now Turning update to
veterinarians have of platform's more to During are the quarter, practices. to their as or leverage within adoption reps About trends the monitors begun the bought X/X upfront. X first saw we in strong the clinics more VetGuardian VetGuardian for capabilities quarter, sold
portal X to may customer purchased recall, size fact, X calculations Incidentally, a a a you only accommodate time our monitors Miso we during Medica the total quarter, the had use market. web can monitors X our single first unit addressable up at As screen. in at published time. market customer And on potential who X to per
So multiple we're purchases very expansion. represent with pleased as market monitor they the
are a with supervised and times safe that VetGuardian it ensure clinic are customers this are veterinarians their and helps they the as the of the technology speaks increasing at during value to innovative awareness that the progress most points seeing vulnerable. Our to pets from at product transformative
Marking excited also quine solution to beyond, we Union, VetGuardian. and veterinary of set attention expansion are turning as a XXXX events select an certification access demand to our be Monday, care in as the on to to which an with allows Marking EU, deep throughout practice platform XXXX market. late and a help of international given development potential very our about PulseVet now milestone and the other we're sort and be CE CE for CE received, already seeing. the and horse to of of by stage we're launch within region, in this me helped seeking streamline we projects technology. opportunity professionals With for to this achievement distribution in to Mark countries launch product, this Additionally, vet a drive formal innovative bring the significant partners market equine trainers, validation, market VetGuardian equine patient and the we who the evaluate hand, We're adoption our advanced operations, giving elevate with additional for penetration This will option well accelerated announced use breeders owners. and onboard the in our believe European the that VetGuardian TRUFORMA, sold
it we the have innovation just fire we number product in within of portfolio. irons to as as our a significant discussed, Now relates
largely our run years revenue We increasing drive come, annual annual opportunity years have that. run rate is $XXX massive development that of XXXX exciting end an an rate after a an product million, between in And addressable have untapped. to market commercial growth over to X efforts building to and of for $XX the by and million to
In importantly, flow and look balance and satisfaction to would parent improving products be of that to and supplement of sheet the on well our X pet, accretive addition, time and enhancing pet meet focusing through best acquisitions earnings, activities. Leveraging cash our the continue to also the to as opportunistic, other opportunities we our the line quality deals development the practice business profitability. our business for workflow, profitability shortening pillars: to add development of as care will well-capitalized the portfolio remain M&A for
little Let's talk about operations. a bit
Following we acquired our QBT, vacating the optimize acquisition had longer X we took no new within XX% and of decreased needed. Plymouth, our recently by facility. of footprint Minnesota facility by our the We to suites steps
the installing of million of X side, in process also in produce we single in per and produce of tens millions cartridges a investment acquired would turn, year us revenue. automated of allowing are equipment, robotic On which dollars the shift, to cutting-edge
continues optimization to technology in to we to we While TRUFORMA margins million and equipment, improve over as $X expect invested scale. us allow this facility this
patents area Another operations continued portfolio is trademarks. property, within protection our including robust of of the and intellectual focus
IP As announced XXX which and international U.S. issued a to TRUFORMA, we of portfolio number XX and pending last recently week, U.S. patents Zomedica XXX related trademarks. with patents our patents were to key total brought additional
date. ago issued are of that about we but a these week release so, already Now numbers press or out
of learned and issued total IP international XXX our patents, As additional U.S. patents and trademarks portfolio and international today several of trademarks. we issued pending since patents as just bringing release, XXX additional that XX with to
portfolio us concern new into correlate solutions, resources development market attempting IP tapping investment fast in copy does the which our leverage and to followers investment protect of to the our doesn't the opportunities sales, to devote innovative While directly to it of increased technology. in enables without
remarks, the to what the that balance a to financial in this to we With during beyond. reiterate comments. year hand I that I over during exists corporate of proud Before quarter. and capitalize closing that, After provide Peter, and hand the review I'll on the it significant opportunity come we're call back first the to want his accomplished to some We're of Peter update. market great I'll Peter? position for
