Heska posts $61.5M revenue for third quarter

LOVELAND — Veterinary products company Heska Corp. (Nasdaq: HSKA) posted 2.1% year-over-year revenue growth in the third quarter of 2022, to $61.5 million from $60.2 million, the company reported Tuesday.

North American revenue grew 6.7%, to $40.3 million from $37.8 million, while international revenue fell 5.7%, to $21.2 million from $22.4 million. 

Overall, Heska posted a $436,000 net loss for the third quarter, an improvement on the $1.8 million net loss it reported in the third quarter of 2021. 

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“In the third quarter, Heska exceeded nearly all profitability targets despite some softness in reported revenue,” said president and CEO Kevin Wilson in a statement. “The profitability performance is clear throughout the release, as we execute on our European products and subscriptions conversion strategy and North America continues to do well.”

Heska projects 5% total revenue growth in fiscal 2023, with 8-10% growth in the North American market. 

“As we work to close this year and begin next, our solutions, selling prices and costs, supply chain, innovations pipeline, and team are broadly stronger and much further along in our strategic plan than last year,” Wilson said.