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Heska Corp (HSKA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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CIK: 1038133 Ticker: HSKA

Exhibit 99.1
Heska Corporation
heskalogoa05.jpg
Jon Aagaard
Investor Relations
970.619.3033
investorrelations@heska.com
Heska Corporation Reports Fourth Quarter and Full Year 2021 Results
Full Year Sales Up 28.6% to $253.7 Million, Record Quarterly Revenue $68.1 Million
Full Year North America Lab Consumables Sales Up 21.5%, Full Year Subscriptions Up 25%
LOVELAND, CO, February 28, 2022 -- Heska Corporation (NASDAQ: HSKA; “Heska” or “Company”), a leading global provider of advanced veterinary diagnostic and specialty products, reported financial results in two segments (North America and International) for its fourth quarter and full year ended December 31, 2021. In this release, Point of Care is “POC”, Pharmaceuticals, Vaccines and Diagnostics is “PVD”, Other Vaccines and Pharmaceuticals is “OVP”, scil animal care company GmbH is “scil”, and basis points is “bps”.
Report Highlights
•Full year active subscriptions up 25%. Nearly all subscriptions metrics outpaced 2021 Outlook.
•Over 100 Element AIMTM installations in Q4, ahead of Company expectations.
•North America POC Lab Consumables sales up 13.2% in Q4 and up 21.5% for full year, ahead of 2021 Outlook (greater than 20%). International POC Lab Consumables sales up 42.2% for full year, ahead of 2021 Outlook (greater than 35%).
•Consolidated gross margin year over year up 50 bps to 41.7%. Gross margin for International up 230 bps year over year to 33.1% and North America up 40 bps year over year to 46.8%.
•2022 Outlook reported revenue growth of 13%-17%. 2022 Outlook North America POC Lab Consumables sales growth rate of 15%-20%.
Kevin Wilson, Heska’s Chief Executive Officer and President commented, “What a great year. With so much to say, I will try to keep it concise. The take-home is simple: Heska is a far, far stronger company than we were a year ago- nearly every key metric and strategic initiative is substantially better than at any other time. Sales are up. Margin is up. We are selling more of the ‘right things’ (consumables) the ‘right way’ (subscriptions). North America POC Lab Consumables grew 21.5% for the year. International POC Lab Consumables grew 42.2%. We ended the year with more subscribers than we began the year. Contract Subscription Value (“CSV”) rose 34% to outpace expectations by more than $20 million. North America

The following information was filed by Heska Corp (HSKA) on Monday, February 28, 2022 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-K Annual 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-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
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Convertible Note Receivable
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Convertible Note Receivable - Additional Information (Details)
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Credit Facility And Long-Term Debt Credit Facility And Long-Term Debt (Tables)
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Property And Equipment
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Subsequent Events
Ticker: HSKA
CIK: 1038133
Form Type: 10-K Annual Report
Accession Number: 0001038133-22-000007
Submitted to the SEC: Mon Feb 28 2022 12:31:42 PM EST
Accepted by the SEC: Mon Feb 28 2022
Period: Friday, December 31, 2021
Industry: Biological Products No Disgnostic Substances

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