Heska Corp (HSKA) 10-Q Quarterly Report August 2021

LOVELAND, CO, August 3, 2021 -- Heska Corporation (NASDAQ: HSKA; “Heska” or “Company”), a leading provider of advanced veterinary diagnostic and specialty products, reported financial results in two segments (North America and International) for its second quarter ended June 30, 2021. Point of Care is “POC” and scil animal care company GmbH is “scil” in this release.

Second Quarter 2021 and Year Over Year ("YOY") Metrics

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


	Q2 ($)	Q2 (%) YOY
Consolidated Revenue	$64.9	42.0%
North America Revenue	$40.5	39.9%
International Revenue	$24.4	45.8%

	Q2 (%)	Q2 YOY bps(1)
Consolidated Gross Margin	42.0%	290
Net loss margin	(0.3)%	1370
Adjusted EBITDA Margin(2)	13.0%	390

	Q2 ($)	Q2 (%) YOY
Net loss attributable to Heska	$(0.6)	91.1%
Net loss	$(0.2)	96.5%
Adjusted EBITDA(2)	$8.4	103.3%
EPS, Diluted	$(0.06)	91.7%
Non-GAAP EPS, Diluted(2)	$0.50	(3)

(1) "bps" is basis points. (2) See “Use of Non-GAAP Financial Measures” and related reconciliations provided below. (3) Comparable percentage variances are not meaningful.

The following information was filed by Heska Corp (HSKA) on Tuesday, August 3, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Heska Corp's 10-Q Quarterly Report:

Revenue - Product Highlight
The increase is due to favorable product mix, primarily due to increased sales of higher margin POC Lab Consumables, and increased margin from OVP.

Financial - Earnings Highlight
The increase in gross margin is driven by favorable mix related to increased POC Lab Consumable sales and POC Imaging products.
Financial - Earnings Highlight
Management uses EBITDA, adjusted EBITDA, adjusted EBITDA margin and non-GAAP net income (loss) per diluted share as key profitability measures, which are included in monthly or quarterly analyses of our operating results to our senior management team, our annual budget and related goal setting and other performance measurements.
Financial - Earnings Highlight
The increase in gross margin percentage for both periods was due to favorable product mix.
Financial - Income Highlight
Net (Loss) Income Attributable to Heska Corporation Net loss attributable to Heska was $0.6 million in the three months ended June 30, 2021, compared to net loss attributable to Heska of $6.4 million in the three months ended June 30, 2020.
Financial - Earnings
Despite these headwinds, we believe...Read more
Revenue - Product
Such statements, which include statements...Read more
Other - Other
-39- Liquidity, Capital Resources and...Read more
Financial - Expense
The increase in both periods...Read more
Revenue - Product
The increase is driven by...Read more
Financial - Earnings
The increase in gross profit...Read more
Financial - Income
The difference between this line...Read more
Financial - Earnings
Gross margin increased to 42.0%...Read more
Financial - Earnings
Gross margin increased to 42.0%...Read more
Other - Other
The non-GAAP financial measures presented...Read more
Financial - Earnings
The increase in gross profit...Read more
M & A - Other
The six months ending June...Read more
Financial - Income
Income Tax (Benefit) Expense For...Read more
Financial - Income
(4) Represents income tax expense...Read more
Financial - Expense
The decrease in interest and...Read more
Revenue - Product
The $11.6 million increase was...Read more
Revenue - Product
The $21.2 million increase was...Read more
Other - Other
The increase in tax benefit...Read more
Financial - Earnings
The increase in gross profit...Read more
Financial - Expense
Research and development expenses decreased...Read more
Revenue - Product
The significant increases in revenue...Read more
Other - Other
Our belief may prove to...Read more
Financial - Income
For the six months ended...Read more
Revenue - Product
Since items in this area...Read more
Revenue - Product
Revenue Total revenue increased 42.0%...Read more
Revenue - Product
The increase in the three...Read more
Revenue - Product
Total revenue increased 64.2% to...Read more
Revenue - Geography
-37- North America Segment North...Read more
Revenue - Geography
North America segment revenue increased...Read more
Revenue - Product
The increase in the six...Read more
Financial - Expense
The majority of the increases...Read more
Financial - Shares
The Company recognized $0.6 million...Read more
Financial - Shares
The Company recognized $1.0 million...Read more
Revenue - Product
Our experience has been that...Read more
Financial - Earnings
Gross Profit Gross profit increased...Read more
Financial - Earnings
Gross profit increased 68.4% to...Read more
Financial - Income
In the three months ended...Read more
Financial - Income
In the six months ended...Read more
Financial - Expense
General and administrative expenses increased...Read more
Financial - Expense
General and administrative expenses increased...Read more
Financial - Earnings
Net income attributable to Heska...Read more
Revenue - Product
For the three months ended...Read more
Other - Other
Our primary source of liquidity...Read more
Revenue - Product
We also experienced recovery from...Read more
Financial - Income
See "Non-GAAP Financial Measures" for...Read more
Other - Other
We believe these non-GAAP measures...Read more
Financial - Expense
Research and development expenses increased...Read more
Other - Other
The variance is related to...Read more
Financial - Expense
Operating Expenses Selling and marketing...Read more
Financial - Expense
We view this facility as...Read more
Other - Other
For example, we actively seek...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Heska Corp provided additional information to their SEC Filing as exhibits

Exhibit 10.2: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: HSKA
CIK: 1038133
Form Type: 10-Q Quarterly Report
Accession Number: 0001038133-21-000038
Submitted to the SEC: Wed Aug 04 2021 11:21:33 AM EST
Accepted by the SEC: Wed Aug 04 2021
Period: Wednesday, June 30, 2021
Industry: Biological Products No Disgnostic Substances