Heska Corporation Reports First Quarter 2023 Results.

LOVELAND, Colo: Heska Corporation (NASDAQ: HSKA; "Heska" or "Company"), a leading global provider of advanced veterinary diagnostic and specialty products, reported financial results for its first quarter ended March 31, 2023.

First Quarter 2023 and Year Over Year ("YOY") Metrics

$ in millions except Earnings Per Share ("EPS")

Q1 ($)

Q1 (%) YOY

Consolidated revenue

$62.4

(3.7) %

Q1 (%)

Q1 YOY bps1

Consolidated gross margin

43.9 %

(110)

Net loss margin2

(15.7) %

(90)

Adjusted EBITDA margin3

5.2 %

(670)

Q1 ($)

Q1 (%) YOY

Net loss attributable to Heska

$(10.1)

(1.4) %

Net loss

$(9.8)

(1.8) %

Adjusted EBITDA3

$3.3

(57.6) %

EPS, Diluted

$(0.97)

-- %

Non-GAAP EPS, Diluted3

$0.17

(37.0) %

1Basis Points is "bps". 2Net loss margin represents the ratio of net loss to revenue. 3See "Use of Non-GAAP Financial Measures" and related reconciliations provided below.

Recent Merger Agreement Announcement

On April 3rd, 2023, Heska and Antech Diagnostics, Inc. ("Antech"), a subsidiary of Mars Incorporated, announced a definitive merger agreement under which Antech will acquire Heska for $120 per share (the "Merger"). As a result, Heska will not host an...