Heska shrinks losses, grows sales in second quarter but fails to meet Wall Street expectations

LOVELAND — Veterinary diagnostics developer Heska Corp. (Nasdaq: HSKA) posted a net loss of nearly $600,000 in the second quarter of fiscal year 2021, but that’s a significant improvement over losses that totaled almost $6.4 million during the same period last year. 

Sales for the quarter were nearly $65 million, up from about $45.7 million in the second quarter of 2020. 

Heska expects full fiscal year sales to total between $250 million and $260 million.

“The second quarter of 2021 outpaced my expectations across all key metrics, with very strong sequential and year over year results,” Heska CEO Kevin Wilson said in a statement accompanying the company’s quarterly report. “Sales, margins, and subscriptions were all up strongly and operations teams delivered great results. Heska’s in great shape as we begin the second half and look to next year. Our global team and reach are greatly expanded. The balance sheet and team are ready for more offense. And our product’s release cycle has no obvious historical rival in veterinary diagnostics. Broadly, we continue to see very positive industry trends in all geographic segments. Specifically, we continue to benefit from execution in our strategies for doubling of customers and geography, doubling of revenue lines opportunities, and continuing to win in our baseline business.”

Despite the improved performance and Wilson’s claim that Heska’s performance “outpaced” his expectations, the company failed to meet Wall Street expectations. Zachs Consensus Estimate pegged the company to break even in the second quarter.

Heska’s stock price finished trading Tuesday at $254.26, up 1.65%.

LOVELAND — Veterinary diagnostics developer Heska Corp. (Nasdaq: HSKA) posted a net loss of nearly $600,000 in the second quarter of fiscal year 2021, but that’s a significant improvement over losses that totaled almost $6.4 million during the same period last year. 

Sales for the quarter were nearly $65 million, up from about $45.7 million in the second quarter of 2020. 

Heska expects full fiscal year sales to total between $250 million and $260 million.

“The second quarter of 2021 outpaced my expectations across all key metrics, with very strong sequential and year over year results,” Heska CEO Kevin Wilson said in a statement accompanying the company’s quarterly report. “Sales, margins, and subscriptions were all up strongly and operations teams delivered great results. Heska’s in great shape as we begin the second half and look to next year. Our global team and reach are greatly expanded. The balance sheet and team are ready for more offense. And our product’s release cycle has no obvious historical rival in veterinary diagnostics. Broadly, we continue to see very positive industry trends in all geographic segments. Specifically, we continue to benefit from execution in our strategies for doubling of customers and geography, doubling of revenue lines opportunities, and continuing to win in our baseline business.”

Despite the improved performance and Wilson’s claim that Heska’s performance “outpaced” his expectations, the company failed to meet Wall Street expectations. Zachs Consensus Estimate pegged the company to break even in the second quarter.

Heska’s stock price finished trading Tuesday at $254.26, up 1.65%.