IDEXX Laboratories Inc (IDXX)

IDEXX Laboratories to Present at Stifel Conference and Announces 2026 Investor DayMay 14, 2026 4:34 PM
Business Wire IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today announced that Mike Erickson, President and Chief Executive Officer, will participate in a fireside chat at the Stifel Jaws & Paws Conference on Wednesday, May 27, 2026 from 10:55 am – 11:25 am (ET). A live audio webcast of the presentation will be available through a link on the IDEXX website, www.idexx.com/investors. An archived edition of the presentation will be available via the same link. 2026 Investor Day IDEXX Laboratories, Inc. also announced today that it will host its 2026 Investor Day on Thursday, August 13, 2026, at its corporate headquarters in Westbrook, Maine from approximately 8:00 am to 12:00 pm (ET). A live webcast of the presentations will be available on www.idexx.com/investors. Advance registration for the in-person event is required; institutional investors and analysts interested in attending should contact investorrelations@idexx.com. Additional information on IDEXX’s Investor Day will be provided closer to the date of the event. About IDEXX Laboratories, Inc. IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500™ Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit www.idexx.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260514142857/en/ Investor Relations
investorrelations@idexx.com Original: IDEXX Laboratories to Present at Stifel Conference and Announces 2026 Investor Day

IDEXX Laboratories Announces First Quarter ResultsMay 5, 2026 6:30 AM
Business Wire Achieves first quarter revenue growth of 14% as reported and 11% organic, and CAG Diagnostics recurring revenue growth of 14% as reported and 11% organic. Double-digit organic revenue growth was driven by IDEXX execution and commercial performance, reflecting strong volume growth and benefits from IDEXX's innovation. Delivers EPS of $3.47, an increase of 17% as reported and 15% on a comparable basis, including operating margin expansion of 10 basis points as reported and 100 basis points on a comparable basis. Increases 2026 revenue guidance to $4,675 million - $4,760 million, up $42 million or ~1% at midpoint, reflecting stronger CAG Diagnostics recurring revenue performance. Raises outlook for 2026 reported revenue growth of 8.6% - 10.6% and CAG Diagnostics recurring revenue reported growth of 9.6% - 11.6%, with projected 2026 organic revenue growth of 7.7% - 9.7% and CAG Diagnostics recurring revenue organic growth of 8.7% - 10.7%. Raises 2026 EPS outlook to $14.45 - $14.90, reflecting an increase of $0.13 compared to prior guidance midpoint, supported by expectations for increased revenue and comparable operating margin expansion, and updated foreign exchange estimates. IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today announced first quarter results. First Quarter Results The Company reports revenues of $1,141 million for the first quarter of 2026, an increase of 14% as reported and 11% organic, driven by Companion Animal Group ("CAG") growth of 15% as reported and 12% organic. First quarter earnings per diluted share (“EPS”) were $3.47, an increase of 17% as reported and 15% on a comparable basis. First quarter EPS included a $0.05 per share impact from a loss on an equity investment, $0.09 per share in tax benefits from share-based compensation, and $0.14 per share benefit from currency changes. “Excellent commercial execution delivered exceptional first quarter results and positions IDEXX for continued strength through 2026,” said Jay Mazelsky, President and Chief Executive Officer. “IDEXX Cancer Dx™ platform momentum continues to build with the recent International launch and growing adoption in the U.S., and our IDEXX inVue Dx™ roll-out further advances our innovation-driven growth strategy. Initial customer response to the controlled launch of IDEXX inVue Dx FNA has been very encouraging and supports broadening access over the remainder of the year. As I transition from the CEO role, IDEXX remains well-positioned for continued success, and I look forward to continuing to work with Mike Erickson to drive long-term sustained growth in the business.” First Quarter Performance Highlights Companion Animal Group (“CAG”) CAG revenue growth was led by CAG Diagnostics recurring revenue growth of 14% as reported and 11% organic, including 21% reported and 12% organic gains in International regions, and 11% reported and organic growth in the U.S., outpacing sector growth levels. U.S. growth was aided by a modest easing of clinical visit pressures and increased diagnostic frequency. Additional U.S. companion animal practice key metrics are available in the Q1 2026 Earnings Snapshot accessible on the IDEXX website, www.idexx.com/investors. Sustained commercial execution - including net customer gains, solid volume gains, benefits from IDEXX innovation, and expansion of the premium instrument installed base - drove double-digit CAG Diagnostics recurring revenue growth. IDEXX VetLab™ consumables generated 20% reported and 15% organic revenue growth, supported by testing utilization gains, including increasing benefit from recent product launches, 12% growth in IDEXX's global premium instrument installed base, and net price gains. Reference laboratory diagnostic and consulting services generated 12% reported and 10% organic revenue growth, with benefits from higher testing volumes and net new customer gains. Rapid assay products revenues increased 1% as reported and were flat on an organic basis, driven by net price benefits with volume continuing to be impacted from the growing adoption of the Catalyst™ Pancreatic Lipase Test, which continues to shift some testing across modalities. CAG Diagnostics capital instrument revenues expanded 33% as reported and 28% on an organic basis, led by strong quarterly instrument placements, including benefits from 1,100 IDEXX inVue Dx placements. Veterinary software, services and diagnostic imaging systems revenues grew 12% on a reported and 11% on an organic basis for the quarter, led by cloud-native software growth and continued installed base expansion, including record diagnostic imaging system installations. Water Water revenues grew 11% as reported and 7% organic for the quarter, reflecting solid organic growth in the U.S. and Latin America. Livestock, Poultry and Dairy (“LPD”) LPD revenues increased 14% as reported and 7% organic for the quarter, led by strong growth across core product categories. Gross Profit and Operating Profit Gross profit increased 16% as reported and 13% on a comparable basis. Gross margin of 63.4% increased 90 basis points as reported and comparable, supported by strong recurring revenue volume gains, operational productivity initiatives, and net price realization, which was offset by inflationary impacts and investments. Operating margin was 31.8% for the quarter, higher than the prior year period by 10 basis points as reported and by 100 basis points on a comparable basis. Operating margin results reflect a 17% operating expense increase as reported and 11% growth on a comparable basis, including a $5 million loss on an equity investment in the current period and lapping a ~$9 million prior year benefit from a discrete expense accrual adjustment related to a concluded litigation matter. Operating expense growth was driven by investments in commercial capabilities, higher R&D spend related to advancing the Company's innovation agenda, further investment in the Veterinary Software and Services business, and higher employee benefit and incentive costs. 2026 Growth and Financial Performance Outlook The Company is updating its full year revenue growth guidance range to $4,675 million - $4,760 million, or reported growth of 8.6% - 10.6%, an increase of $42 million at midpoint. This reflects a positive adjustment of ~1% at midpoint to full year estimates for reported revenue growth, reflecting strong CAG Diagnostics recurring revenue performance and outlook for modestly improving clinical visit trends. The Company is increasing its outlook for organic revenue growth to 7.7% - 9.7%, an increase of 0.7% at midpoint, reflecting the operational benefits highlighted above. The Company increased its full year reported operating margin outlook to 32.1% - 32.5%, bringing the projected full year operating profit margin expansion to 50 - 90 basis points as reported and on a comparable basis. This outlook benefits from strong first quarter operating performance, while advancing strategic investment priorities. The Company updated its EPS outlook range to $14.45 - $14.90, reflecting increased reported growth of 11% - 14% and 11% - 15% comparable growth. At midpoint this reflects benefits of $0.13 per share from operational performance and $0.05 from updated estimates for foreign exchange impacts, offset by $0.05 impact from a loss on an equity investment. The following table provides the Company's updated outlook for annual key financial metrics in 2026 with a comparison to the prior outlook: Amounts in millions except per share data and percentages 2026 Growth and Financial Performance Outlook                     Updated   Prior Revenue   $4,675 - $4,760   $4,632 - $4,720 Reported growth   8.6% - 10.6%   7.6% - 9.6% Organic growth   7.7% - 9.7%   7.0% - 9.0% CAG Diagnostics Recurring Revenue Growth                 Reported growth   9.6% - 11.6%   8.6% - 10.6% Organic growth   8.7% - 10.7%   8.0% - 10.0% Operating Margin   32.1% - 32.5%   32.0% - 32.5% Operating margin expansion   50 bps - 90 bps   40 bps - 90 bps Comparable margin expansion   50 bps - 90 bps   30 bps - 80 bps EPS   $14.45 - $14.90   $14.29 - $14.80 Reported growth   11% - 14%   9% - 13% Comparable growth   11% - 15%   10% - 14% Other Key Metrics                 Net interest expense   ~ $34   ~ $34 Share-based compensation tax benefit   ~ $15   ~ $15 Share-based compensation tax rate benefit   ~ 1.0%   ~ 1.0% Effective tax rate   ~ 21.4%   ~ 21.3% Share-based compensation EPS impact   ~ $0.19   ~ $0.19 Reduction in average shares outstanding   1% - 2%   1% - 2% Operating Cash Flow (% of Net Income)   105% - 115%   105% - 115% Free Cash Flow (% of Net Income)   85% - 95%   85% - 95% Capital Expenditures   ~ $180   ~ $180 The following table outlines estimates of foreign currency exchange rate impacts, net of foreign currency hedging transactions, and foreign currency exchange rate assumptions reflected in the above financial performance outlook for 2026. Estimated Foreign Currency Exchange Rate Impacts   2026       Revenue growth rate impact   ~0.9% CAG Diagnostics recurring revenue growth rate impact   ~0.9% Operating margin growth impact   ~ 30 bps EPS impact   ~ $0.27 EPS growth impact   ~ 2%       Go-Forward Foreign Currency Exchange Rate Assumptions   2026 In U.S. dollars     euro   $1.16 British pound   $1.33 Canadian dollar   $0.72 Australian dollar   $0.70 Relative to the U.S. dollar     Japanese yen   ¥160 Chinese renminbi   ¥6.90 Brazilian real   R$5.15 Conference Call and Webcast Information IDEXX Laboratories, Inc. will host a conference call today at 8:30 a.m. (ET) to discuss its first quarter 2026 results and management’s outlook. Individuals can access a live webcast of the conference call through a link on the IDEXX website, www.idexx.com/investors. An archived edition of the webcast will be available after 1:00 p.m. (ET) via the same link and will remain available for one year. The live call also will be accessible by telephone. To listen to the live conference call, please dial 1-800-330-6730 or 1-213-279-1575 and reference passcode 492760. 2026 Annual Meeting of Shareholders IDEXX Laboratories, Inc. will hold its 2026 Annual Meeting of Shareholders (the “2026 Annual Meeting”) on Tuesday, May 12, 2026 at 10:00 a.m. (ET). The 2026 Annual Meeting will be a virtual meeting via a live audio webcast at www.virtualshareholdermeeting.com/IDXX2026. The online pre-meeting forum can be accessed before the 2026 Annual Meeting at www.proxyvote.com. At this online pre-meeting forum, you can submit questions in writing in advance of the 2026 Annual Meeting, vote, view the Rules of Conduct and Procedures relating to the 2026 Annual Meeting and access copies of the Company's proxy materials and annual report. Shareholders as of the close of business on March 16, 2026 are entitled to attend the 2026 Annual Meeting, vote their shares electronically and submit questions before and during the live audio webcast. As part of the 2026 Annual Meeting, the Company will answer the questions submitted by our shareholders during a live Q&A session, as time permits. The Company will publish the answer to each question, including those which we are unable to address during the meeting due to time constraints during the 2026 Annual Meeting, on the Company’s Investor Relations website as soon as practicable after the meeting. An archived replay will be available at www.virtualshareholdermeeting.com/IDXX2026 after the conclusion of the 2026 Annual Meeting. Further information on the 2026 Annual Meeting can be found in the Company’s proxy materials. About IDEXX Laboratories, Inc. IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500™ Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit www.idexx.com. Note Regarding Forward-Looking Statements This earnings release and the statements to be made in the accompanying earnings conference call contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the Company’s business prospects and estimates of the Company’s financial results for future periods. Forward-looking statements are included above under "2026 Growth and Financial Performance Outlook" and elsewhere and can be identified by the use of words such as "expects", "may", "anticipates", "intends", "would", "will", "plans", "believes", "estimates", "projected", "should", and similar words and expressions. Our forward-looking statements include statements relating to our expectations regarding financial performance; revenue growth (including instrument revenue growth in 2026) and EPS outlooks; operating and free cash flow forecast; projected impact of foreign currency exchange rates and interest rates; projected operating margins and expenses and capital expenditures; projected tax, tax rate and EPS benefits from share-based compensation arrangements; projected effective tax rates, reduction of average shares outstanding and net interest expense; projected impact of tariffs; trends and other factors impacting the pet healthcare industry, including U.S. clinical visits; IDEXX inVue Dx analyzer placements; future IDEXX Cancer Dx testing panel addition; rollout of Fine Needle Aspiration to the IDEXX inVue Dx analyzer and future commercial and menu expansions; and future advancements in artificial intelligence. These statements are intended to provide management's expectations or forecasts of future events as of the date of this earnings release; are based on management's estimates, projections, beliefs, and assumptions as of the date of this earnings release; and are not guarantees of future performance. These forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, among other things, the adverse impact, and the duration, of macroeconomic events, conditions, and uncertainties, such as geopolitical instability (including wars, terrorist attacks, and armed conflicts), general economic uncertainty, changes in U.S. and other countries’ tariff and trade policies, severe weather and other natural conditions, and supply chain challenges on our business, results of operations, liquidity, financial condition, and stock price, as well as the matters described under the headings "Business," "Risk Factors," "Legal Proceedings," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures About Market Risk" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and in the corresponding sections of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, as well as those described from time to time in the Company’s other filings with the U.S. Securities and Exchange Commission available at www.sec.gov. The Company specifically disclaims any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Statement Regarding Non-GAAP Financial Measures The following defines terms and conventions and provides reconciliations regarding certain measures used in this earnings release and/or the accompanying earnings conference call that are not required by, or presented in accordance with, generally accepted accounting principles in the United States of America ("GAAP"), otherwise referred to as non-GAAP financial measures. To supplement the Company’s consolidated results presented in accordance with GAAP, the Company has disclosed non-GAAP financial measures that exclude or adjust certain items. Management believes these non-GAAP financial measures provide useful supplemental information for its and investors’ evaluation of the Company’s business performance and liquidity and are useful for period-over-period comparisons of the performance of the Company’s business and its liquidity and to the performance and liquidity of our peers. While management believes that these non-GAAP financial measures are useful in evaluating the Company’s business, this information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies. Constant currency - Constant currency references are non-GAAP financial measures which exclude the impact of changes in foreign currency exchange rates and are consistent with how management evaluates our performance and comparisons with prior and future periods. We estimate the net impacts of currency on our revenue, gross profit, operating profit, and EPS results by restating results to the average exchange rates or exchange rate assumptions for the comparative period, which includes adjusting for the estimated impacts of foreign currency hedging transactions and certain impacts on our effective tax rates. These estimated currency changes impacted first quarter 2026 results as follows: increased gross profit growth by 3.3%, no impact to gross margin expansion, increased operating expense growth by 2.0%, increased operating profit growth by 4.5%, increased operating profit margin growth by 40 basis points, and increased EPS growth by 4.6%. Constant currency revenue growth represents the percentage change in revenue during the applicable period, as compared to the prior year period, excluding the impact of changes in foreign currency exchange rates. See the supplementary analysis of results below for revenue percentage change from currency for the three months ended March 31, 2026 and refer to the 2026 Growth and Financial Performance Outlook section of this earnings release for estimated foreign currency exchange rate impacts on 2026 projections and estimates. Growth and organic revenue growth - All references to growth and organic growth refer to growth compared to the equivalent prior year period unless specifically noted. Organic revenue growth is a non-GAAP financial measure that represents the percent change in revenue, as compared to the same period for the prior year, net of the impact of changes in foreign currency exchange rates, certain business acquisitions, and divestitures. Management believes that reporting organic revenue growth provides useful information to investors by facilitating easier comparisons of our revenue performance with prior and future periods and to the performance of our peers. Organic revenue growth should be considered in addition to, and not as a replacement of or a superior measure to, revenue growth reported in accordance with GAAP. See the supplementary analysis of results below for a reconciliation of reported revenue growth to organic revenue growth for the three months ended March 31, 2026. Please refer to the constant currency note above for a summary of foreign currency exchange rate impacts. Please refer to the 2026 Growth and Financial Performance Outlook section of this earnings release for estimated full year 2026 organic revenue growth for the Company and CAG Diagnostics recurring revenue growth. The percentage change in revenue resulting from acquisitions represents revenues during the current year period, limited to the initial 12 months from the date of the acquisition, that are directly attributable to business acquisitions. Revenue from acquisitions is expected to have an immaterial impact on projected full year 2026 revenue growth and no impact on CAG Diagnostics recurring revenue growth. Projected second quarter 2026 organic revenue growth for the Company and CAG Diagnostics recurring revenue each reflects adjustment to projected second quarter 2026 organic revenue growth for the Company and CAG Diagnostics recurring revenue, as applicable, for a positive ~60 basis point impact from year-over-year foreign currency exchange rate changes at noted exchange rates; no impact to either of these projected growth measures is expected from acquisitions. We exclude from organic revenue growth the effect of changes in foreign currency exchange rates because changes in foreign currency exchange rates are not under management’s control, are subject to volatility, and can obscure underlying business trends. We calculate the impact on revenue resulting from changes in foreign currency exchange rates by applying the difference between the weighted average exchange rates during the current year period and the comparable prior year period to foreign currency denominated revenues for the prior year period. We also exclude from organic revenue growth the effect of certain business acquisitions and divestitures because the nature, size, and number of these transactions can vary dramatically from period to period, and because they either require or generate cash as an inherent consequence of the transaction, and therefore can also obscure underlying business and operating trends. We consider acquisitions to be a business when all three elements of inputs, processes, and outputs are present, consistent with ASU 2017-01, “Business Combinations: (Topic 805) Clarifying the Definition of a Business.” In a business combination, if substantially all the fair value of the assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, we do not consider these assets to be a business. A typical acquisition that we do not consider a business is a customer list asset acquisition, which does not have all elements necessary to operate a business, such as employees or infrastructure. We believe the efforts required to convert and retain these acquired customers are similar in nature to our existing customer base and therefore are included in organic revenue growth. Comparable growth metrics - Comparable gross profit growth, comparable gross margin gain (or growth), comparable operating expense growth, comparable operating profit growth and comparable operating margin gain (or growth) are non-GAAP financial measures and exclude the impact of changes in foreign currency exchange rates and non-recurring or unusual items (if any). Please refer to the constant currency note above for a summary of foreign currency exchange rate impacts. Management believes that reporting comparable gross profit growth, comparable gross margin gain (or growth), comparable operating expense growth, comparable operating profit growth and comparable operating margin gain (or growth) provides useful information to investors because it enables better period-over-period comparisons of the fundamental financial results by excluding items that vary independent of performance and provides greater transparency to investors regarding key metrics used by management. Comparable gross profit growth, comparable gross margin gain (or growth), comparable operating expense growth, comparable operating profit growth and comparable operating margin gain (or growth) should be considered in addition to, and not as replacements of or superior measures to, gross profit growth, gross margin gain, operating expense growth, operating profit growth and operating margin gain reported in accordance with GAAP. The reconciliation of these non-GAAP financial measures is as follows:     Three Months Ended Year-over-Year     March 31,   March 31, Change Dollar amounts in thousands     2026       2025     Gross profit and growth (as reported)   $ 722,739     $ 623,379   16 % Gross margin and margin gain     63.4 %     62.4 % 90 bps Less: comparability adjustments           Change from currency     20,471       —     Comparable gross profit and growth   $ 702,268     $ 623,379   13 % Comparable gross margin and margin gain     63.3 %     62.4 % 90 bps             Operating expenses and growth (as reported)   $ 360,153     $ 306,845   17 % Less: comparability adjustments           Change from currency     6,270       —     Loss on equity investment     5,000       —     Now-concluded litigation matter     —       (8,600 )   Comparable operating expense and growth   $ 348,883     $ 315,445   11 %             Operating profit and growth (as reported)   $ 362,586     $ 316,534   15 % Operating margin and margin gain     31.8 %     31.7 % 10 bps Less: comparability adjustments           Change from currency     14,201       —     Loss on equity investment     (5,000 )     —     Now-concluded litigation matter     —       8,600     Comparable operating profit and growth   $ 353,385     $ 307,934   15 % Comparable operating margin and margin gain     31.8 %     30.8 % 100 bps Amounts presented may not recalculate due to rounding. Projected 2026 comparable operating margin expansion outlined in the 2026 Growth and Financial Performance Outlook section of this earnings release reflects the following adjustments: (i) full year 2026 reported operating margin adjusted for $5 million unfavorable impact of loss on an equity investment; and (ii) adjustment to projected 2026 operating margin for a positive impact from year-over-year foreign currency exchange rate changes at noted exchange rates; and (iii) adjustment to 2025 operating margin for positive impact of the approximately $9 million discrete litigation expense accrual adjustment in the first quarter of 2025. Projected second quarter 2026 comparable operating margin expansion reflects adjustment to projected second quarter 2026 operating margin expansion for a positive ~10 basis point impact from year-over-year foreign currency exchange rate changes at noted exchange rates. These impacts described above reconcile reported gross profit growth, gross margin gain, operating expense growth, operating profit growth and operating margin gain (including projected 2026 and second quarter 2026 operating margin expansion) to comparable gross profit growth, comparable gross margin gain, comparable operating expense growth, comparable operating profit growth and comparable operating margin gain for the Company. Comparable EPS growth - Comparable EPS growth is a non-GAAP financial measure that represents the percentage change in earnings per share (diluted) ("EPS") for a measurement period, as compared to the prior base period, net of the impact of changes in foreign currency exchange rates from the prior base period and excluding the tax benefits of share-based compensation activity under ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, and non-recurring or unusual items (if any). Management believes comparable EPS growth is a more useful way to measure the Company’s business performance than EPS growth because it enables better period-over-period comparisons of the fundamental financial results by excluding items that vary independent of performance and provides greater transparency to investors regarding a key metric used by management. Comparable EPS growth should be considered in addition to, and not as a replacement of or a superior measure to, EPS growth reported in accordance with GAAP. Please refer to the constant currency note above for a summary of foreign currency exchange rate impacts. The reconciliation of this non-GAAP financial measure is as follows:     Three Months Ended   Year-over-Year     March 31,   March 31,   Growth       2026       2025     Earnings per share (diluted) and growth   $ 3.47     $ 2.96   17 % Less: comparability adjustments             Share-based compensation activity     0.09       0.01     Loss on equity investment     (0.05 )     —     Now-concluded litigation matter     —       0.08     Change from currency     0.14       —     Comparable EPS and growth   $ 3.30     $ 2.87   15 % Amounts presented may not recalculate due to rounding. Projected 2026 comparable EPS growth outlined in the 2026 Growth and Financial Performance Outlook section of this earnings release reflects the following adjustments: (i) adjustment to projected full year 2026 reported EPS for estimated positive year-over-year foreign currency exchange rate change impact of $0.27 at noted exchange rates; and (ii) adjustment to projected full year 2026 reported EPS for estimated positive impact of share-based compensation activity of ~$0.19; and (iii) adjustment to projected full year 2026 EPS of $0.05 for unfavorable impact of a loss on an equity investment; and (iv) adjustment to full year 2025 reported EPS for a positive $0.08 impact from the discrete litigation expense accrual adjustment in the first quarter of 2025; and (v) adjustment to full year 2025 reported EPS for positive impact of share-based compensation activity of $0.35. These impacts and those described in the constant currency note above reconcile reported EPS growth (including projected 2026 reported EPS growth) to comparable EPS growth for the Company. Segment and Other Income from Operations - We report segment income from operations in our Segment Information table below. Segment income from operations is a non-GAAP financial measure that adjusts for the impact of foreign currency transaction gains and losses and should be considered in addition to, and not as a replacement for, or superior measure to, income from operations. We exclude foreign currency transaction gains and losses for each reportable segment (CAG, Water, and LPD) from segment income from operations and report the full amount of foreign currency transaction gains and losses in Other. We believe that reporting segment income from operations provides supplemental analysis to help investors further evaluate each reportable segment’s business performance by excluding foreign currency transaction gains and losses, which are centrally managed by our corporate treasury function and which we do not consider relevant for assessing the results of each reportable segment’s operations. In addition, we believe that reporting segment income from operations provides information to investors regarding key metrics that are used by management, including our chief operating decision-maker, in evaluating the performance of each reportable segment. The reconciliation of this non-GAAP financial measure is as follows for the three months ended March 31, 2026 and 2025: Amounts in thousands   Three Months Ended March 31,     2026   2025     Income from Operations   Impact from Foreign Currency   Segment and Other Income from Operations   Income from Operations   Impact from Foreign Currency   Segment and Other Income from Operations CAG   $ 337,165   $ 390     $ 337,555   $ 294,572   $ 583     $ 295,155 Water     23,643     26       23,669     20,774     43       20,817 LPD     1,262     28       1,290     80     45       125 Other     516     (444 )     72     1,108     (671 )     437 Total   $ 362,586   $ —     $ 362,586   $ 316,534   $ —     $ 316,534 Free cash flow - Free cash flow is a non-GAAP financial measure and means, with respect to a measurement period, the cash generated from operations during that period, reduced by the Company’s investments in property and equipment. Management believes free cash flow is a useful measure because it indicates the cash the operations of the business are generating after appropriate reinvestment for recurring investments in property and equipment that are required to operate the business. Free cash flow should be considered in addition to, and not as a replacement of or a superior measure to, net cash provided by operating activities. See the supplementary analysis of results below for our calculation of free cash flow for the three months ended March 31, 2026 and 2025. To estimate projected 2026 free cash flow, we have deducted projected purchases of property and equipment (also referred to as capital expenditures) of approximately $180 million. Free cash flow conversion, or the net income to free cash flow ratio, is a non-GAAP financial measure that is defined as free cash flow, with respect to a measurement period, divided by net income for the same period. To calculate trailing twelve-month net income to free cash flow ratio for the twelve months ended March 31, 2026, we have deducted purchases of property and equipment of approximately $127 million from net cash provided from operating activities of approximately $1,210 million, divided by net income of approximately $1,095 million. Debt to Adjusted EBITDA (Leverage Ratios) - Adjusted EBITDA, gross debt, and net debt are non-GAAP financial measures. Adjusted EBITDA is a non-GAAP financial measure of earnings before interest, taxes, depreciation, amortization, non-recurring transaction expenses incurred in connection with acquisitions, share-based compensation expense, and certain other non-cash losses and charges. Management believes that reporting Adjusted EBITDA, gross debt, and net debt in the Debt to Adjusted EBITDA ratios provides supplemental analysis to help investors further evaluate the Company's business performance and available borrowing capacity under the Company's credit facility. Adjusted EBITDA, gross debt, and net debt should be considered in addition to, and not as replacements of or superior measures to, net income or total debt reported in accordance with GAAP. For further information on how Adjusted EBITDA and the Debt to Adjusted EBITDA Ratios are calculated, see the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Notes and Definitions Discrete litigation expense accrual - During the first quarter of 2025, the Company reduced its previously established $89.0 million accrual related to a concluded litigation matter by approximately $9 million, which represented our best estimate at that time of the amount of the loss. Concluded litigation matter - The Company was a defendant in a litigation matter involving an alleged breach of contract for underpayment of royalty payments made from 2004 through 2017 under an expired patent license agreement, and the trial court ruled in favor of the plaintiff in 2020. Following appeals and in light of the appellate court's April 3, 2025 decision, on April 17, 2025, the Company paid the judgment of approximately $80 million, and the plaintiff executed a satisfaction and release of judgment, which was filed with the trial court on the same date, concluding this matter. For further information, see the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. IDEXX Laboratories, Inc. and Subsidiaries       Condensed Consolidated Statement of Operations       Amounts in thousands except per share data (Unaudited)               Three Months Ended         March 31,   March 31,           2026       2025   Revenue:   Revenue   $ 1,140,820     $ 998,427   Expenses and Income:   Cost of revenue     418,081       375,048       Gross profit     722,739       623,379       Sales and marketing     175,250       156,223       General and administrative     119,115       91,561       Research and development     65,788       59,061       Total operating expense     360,153       306,845       Income from operations     362,586       316,534       Interest expense, net     (7,144 )     (6,450 )     Income before provision for income taxes     355,442       310,084       Provision for income taxes     76,996       67,407   Net Income:   Net income attributable to stockholders   $ 278,446     $ 242,677       Earnings per share: Basic   $ 3.50     $ 2.98       Earnings per share: Diluted   $ 3.47     $ 2.96       Shares outstanding: Basic     79,648       81,319       Shares outstanding: Diluted     80,162       81,922   IDEXX Laboratories, Inc. and Subsidiaries       Selected Operating Information (Unaudited)               Three Months Ended         March 31,   March 31,         2026   2025 Operating Ratios   Gross profit   63.4 %   62.4 % (as a percentage of revenue):   Sales, marketing, general and administrative expense   25.8 %   24.8 %     Research and development expense   5.8 %   5.9 %     Income from operations1   31.8 %   31.7 %               1Amounts presented may not recalculate due to rounding.       IDEXX Laboratories, Inc. and Subsidiaries         Segment and Other Information         Amounts in thousands (Unaudited)                                       Three Months Ended         March 31, 2026   Percent of Revenue   March 31, 2025   Percent of Revenue               Revenue:   CAG   $ 1,054,052       $ 919,836         Water     50,265         45,321         LPD     32,483         28,596         Other     4,020         4,674         Total   $ 1,140,820       $ 998,427                           Gross Profit:   CAG   $ 667,509   63.3 %   $ 574,823   62.5 %     Water     36,537   72.7 %     32,073   70.8 %     LPD     16,910   52.1 %     14,365   50.2 %     Other     1,783   44.4 %     2,118   45.3 %     Total   $ 722,739   63.4 %   $ 623,379   62.4 %                       Income from Operations:   CAG   $ 337,555   32.0 %   $ 295,155   32.1 %     Water     23,669   47.1 %     20,817   45.9 %     LPD     1,290   4.0 %     125   0.4 %     Other     72   1.8 %     437   9.3 %     Total   $ 362,586   31.8 %   $ 316,534   31.7 % IDEXX Laboratories, Inc. and Subsidiaries Revenues and Revenue Growth Analysis by Product and Service Categories and by Domestic and International Markets Amounts in thousands (Unaudited)                                   Three Months Ended                                                   March 31, 2026   March 31, 2025   Dollar Change   Reported Revenue Growth1   Percentage Change from
Currency   Percentage Change from Acquisitions   Organic Revenue Growth1 Net Revenue               CAG   $ 1,054,052   $ 919,836   $ 134,216     14.6 %   3.0 %   —   11.6 % United States     690,900     623,889     67,011     10.7 %   —     —   10.7 % International     363,152     295,947     67,205     22.7 %   9.3 %   —   13.4 % Water   $ 50,265   $ 45,321   $ 4,944     10.9 %   3.8 %   —   7.1 % United States     26,393     23,503     2,890     12.3 %   —     —   12.3 % International     23,872     21,818     2,054     9.4 %   7.5 %   —   1.9 % LPD   $ 32,483   $ 28,596   $ 3,887     13.6 %   6.4 %   —   7.2 % United States     6,384     5,788     596     10.3 %   —     —   10.3 % International     26,099     22,808     3,291     14.4 %   7.9 %   —   6.5 % Other   $ 4,020   $ 4,674   ($ 654 )   (14.0 %)   —     —   (14.0 %) Total Company   $ 1,140,820   $ 998,427   $ 142,393     14.3 %   3.1 %   —   11.2 % United States     725,232     654,861     70,371     10.7 %   —     —   10.7 % International     415,588     343,566     72,022     21.0 %   9.0 %   —   11.9 %     Three Months Ended                                                       March 31, 2026   March 31, 2025   Dollar Change   Reported Revenue Growth1   Percentage Change from Currency   Percentage Change from Acquisitions   Organic Revenue Growth1 Net CAG Revenue               CAG Diagnostics recurring revenue:   $ 920,313   $ 806,267   $ 114,046   14.1 %   3.1 %   —   11.0 % IDEXX VetLab consumables     412,582     344,779     67,803   19.7 %   4.2 %   —   15.4 % Rapid assay products     84,938     84,034     904   1.1 %   1.2 %   —   (0.1 %) Reference laboratory diagnostic and consulting services     386,179     344,406     41,773   12.1 %   2.5 %   —   9.7 % CAG Diagnostics services and accessories     36,614     33,048     3,566   10.8 %   3.6 %   —   7.2 % CAG Diagnostics capital – instruments   $ 42,449   $ 31,994   $ 10,455   32.7 %   4.7 %   —   28.0 % Veterinary software, services and diagnostic imaging systems:   $ 91,290   $ 81,575   $ 9,715   11.9 %   1.0 %   —   10.9 % Recurring revenue     73,536     65,793     7,743   11.8 %   1.1 %   —   10.7 % Systems and hardware     17,754     15,782     1,972   12.5 %   0.5 %   —   12.0 % Net CAG revenue   $ 1,054,052   $ 919,836   $ 134,216   14.6 %   3.0 %   —   11.6 %     Three Months Ended                                                   March 31, 2026   March 31, 2025   Dollar Change   Reported Revenue Growth1   Percentage Change from Currency   Percentage Change from Acquisitions   Organic Revenue Growth1                 CAG Diagnostics recurring revenue:   $ 920,313   $ 806,267   $ 114,046   14.1 %   3.1 %   —   11.0 % United States     594,483     536,977     57,506   10.7 %   —     —   10.7 % International     325,830     269,290     56,540   21.0 %   9.3 %   —   11.7 %                             1See Statements Regarding Non-GAAP Financial Measures, above. Amounts presented may not recalculate due to rounding. IDEXX Laboratories, Inc. and Subsidiaries Condensed Consolidated Balance Sheet Amounts in thousands (Unaudited)         March 31, 2026   December 31, 2025           Assets:   Current Assets:             Cash and cash equivalents   $ 200,528   $ 180,070     Accounts receivable, net     603,544     552,378     Inventories     382,400     377,756     Other current assets     267,603     303,623     Total current assets     1,454,075     1,413,827     Property and equipment, net     740,382     747,380     Other long-term assets, net     1,191,040     1,189,552     Total assets   $ 3,385,497   $ 3,350,759 Liabilities and Stockholders'             Equity:   Current Liabilities:             Accounts payable   $ 129,974   $ 110,408     Accrued liabilities     453,552     530,147     Line of credit     530,000     398,000     Current portion of long-term debt     149,997     74,995     Deferred revenue     36,328     35,264     Total current liabilities     1,299,851     1,148,814     Long-term debt, net of current portion     299,854     374,842     Other long-term liabilities, net     229,689     221,720     Total long-term liabilities     529,543     596,562     Total stockholders' equity     1,556,103     1,605,383     Total liabilities and stockholders' equity   $ 3,385,497   $ 3,350,759 IDEXX Laboratories, Inc. and Subsidiaries Selected Balance Sheet Information (Unaudited)         March 31,
2026   December 31,
2025   September 30,
2025   June 30,
2025   March 31,
2025 Selected Balance Sheet Information:   Days sales outstanding1   46.2   46.8   46.5   44.7   45.7     Inventory turns2   1.4   1.6   1.5   1.5   1.3                           1Days sales outstanding represents the average of the accounts receivable balances at the beginning and end of each quarter divided by revenue for that quarter, the result of which is then multiplied by 91.25 days. 2Inventory turns are calculated as the ratio of our inventory-related cost of revenue for the quarter multiplied by four, divided by the average inventory balances at the beginning and end of each quarter. IDEXX Laboratories, Inc. and Subsidiaries Condensed Consolidated Statement of Cash Flows Amounts in thousands (Unaudited)         Three Months Ended         March 31, 2026   March 31, 2025           Operating:   Cash Flows from Operating Activities:             Net income   $ 278,446     $ 242,677       Non-cash adjustments to net income     77,550       55,972       Changes in assets and liabilities     (89,748 )     (60,687 )     Net cash provided by operating activities     266,248       237,962   Investing:   Cash Flows from Investing Activities:             Purchases of property and equipment     (31,984 )     (30,026 )     Acquisitions     (2,599 )     —       Proceeds from net investment hedges     1,039       416       Net cash used by investing activities     (33,544 )     (29,610 ) Financing:   Cash Flows from Financing Activities:             Borrowings under credit facility, net     132,000       69,500       Repurchases of common stock     (351,036 )     (400,890 )     Proceeds from exercises of stock options and employee stock purchase plans     18,161       7,193       Shares withheld for statutory tax withholding payments on restricted stock     (10,555 )     (6,124 )     Net cash used by financing activities     (211,430 )     (330,321 )     Net effect of changes in exchange rates on cash     (816 )     (2,327 )     Net increase (decrease) in cash and cash equivalents     20,458       (124,296 )     Cash and cash equivalents, beginning of period     180,070       288,266       Cash and cash equivalents, end of period   $ 200,528     $ 163,970   IDEXX Laboratories, Inc. and Subsidiaries Free Cash Flow Amounts in thousands (Unaudited)         Three Months Ended         March 31, 2026   March 31, 2025           Free Cash Flow:   Net cash provided by operating activities   $ 266,248     $ 237,962       Investing cash flows attributable to purchases of property and equipment     (31,984 )     (30,026 )     Free cash flow1   $ 234,264     $ 207,936                 1See Statement Regarding Non-GAAP Financial Measures, above. IDEXX Laboratories, Inc. and Subsidiaries Common Stock Repurchases Amounts in thousands except per share data (Unaudited)     Three Months Ended     March 31, 2026   March 31, 2025       Shares repurchased in the open market     588     931 Shares acquired through employee surrender for statutory tax withholding     17     14 Total shares repurchased     605     945           Cost of shares repurchased in the open market   $ 360,833   $ 409,215 Cost of shares for employee surrenders     10,555     6,124 Total cost of shares   $ 371,388   $ 415,339           Average cost per share – open market repurchases   $ 613.87   $ 439.64 Average cost per share – employee surrenders   $ 629.35   $ 444.52 Average cost per share – total   $ 614.30   $ 439.71   View source version on businesswire.com: https://www.businesswire.com/news/home/20260504966946/en/ John Ravis, Investor Relations
investorrelations@idexx.com Original: IDEXX Laboratories Announces First Quarter Results

IDEXX verkündet die Verfügbarkeit des Cancer Dx Tests zur Früherkennung von Lymphomen bei Hunden in DeutschlandApril 15, 2026 2:00 AM
Business Wire
Unterstützt Tierärztinnen und Tierärzte dabei, früher zu untersuchen und die nächsten Schritte souverän zu planen


IDEXX Laboratories, Inc. (NASDAQ: IDXX), ein weltweit führendes Unternehmen für Innovationen im Bereich der Tiergesundheit, gab heute die Verfügbarkeit des IDEXX Cancer Dx™ Tests in Deutschland bekannt. Zunächst bietet er die Früherkennung von Lymphomen bei Hunden in Risikogruppen*. Der Bluttest kann ab 24,80 €† (Nettopreis für Praxen) bestimmten Profilen für kranke Haustiere hinzugefügt und in routinemäßige Vorsorgeuntersuchungen integriert werden, wobei Befunde für Tierarztpraxen innerhalb von 2 – 4 Werktagen verfügbar sind.

Diese Pressemitteilung enthält multimediale Inhalte. Die vollständige Mitteilung hier ansehen: https://www.businesswire.com/news/home/20260414128409/de/IDEXX Cancer Dx Test
Maligne Tumorerkrankungen sind nach wie vor eine der häufigsten Todesursachen bei Hunden. Es wird davon ausgegangen, dass bei einem von vier Hunden im Laufe seines Lebens eine maligne Neoplasie diagnostiziert wird.1 Auf Lymphome, eine der häufigsten malignen Tumorerkrankungen, entfällt fast ein Viertel der Tumordiagnosen.2 Die Behandlung von Lymphomen bei Hunden kann dazu beitragen, für betroffene Hunde die Lebenserwartung zu verlängern und die Lebensqualität zu verbessern. Dies unterstreicht die dringende Notwendigkeit einer frühzeitigen Erkennung und Intervention.


Untersuchungen weisen darauf hin, dass 71% der Tierhalter/innen in Deutschland Interesse an einem Screening-Test auf Tumore für ihre Tiere zeigen,3 was auf eine starke Nachfrage nach einer proaktiven Vorsorge hindeutet.


Diese Dynamik ist in der Praxis bereits sichtbar. Seit der Einführung des Tests in Nordamerika im Jahr 2025 haben fast 6.000 Tierarztpraxen in den Vereinigten Staaten und Kanada den Test in Arbeitsabläufe für Diagnostik und Vorsorge integriert.4 Mit dem Test kann ein Lymphom bis zu acht Monate vor dem Auftreten klinischer Symptome erkannt werden.5 Dies hilft Tierärztinnen und Tierärzten, früher weitere Untersuchungen durchzuführen und die nächsten Schritte souverän zu planen.


„IDEXX Cancer Dx baut auf der mehr als 40-jährigen Führungsrolle von IDEXX in der veterinärmedizinischen Forschung und Technologieentwicklung auf und ist ein wichtiger Fortschritt im Hinblick darauf, einzigartige diagnostische Erkenntnisse zu liefern“, sagte Jay Mazelsky, Präsident und CEO von IDEXX. „Als Führende in wichtigen Kategorien der Tumordiagnostik wie Pathologie und Bildgebung entwickeln wir weiterhin innovative Technologien, die die Herangehensweise von Tierärztinnen und Tierärzten an die Erkennung und Überwachung von malignen Tumorerkrankungen bei Haustieren neu definieren können. Wir sind stolz darauf, bei der Früherkennung maligner Neoplasien bei Hunden an vorderster Front zu stehen, und freuen uns, den Zugang zu zuverlässigen Tests auf Tumorerkrankungen in Deutschland zu erweitern.“


Der IDEXX Cancer Dx Test bietet:



Genauigkeit: 79% Sensitivität und 99% Spezifität liefern Ergebnisse, die sowohl bei kranken Hunden als auch bei routinemäßigen Vorsorgeuntersuchungen von Hunden mit erhöhtem Risiko souverän verwendet werden können.6



Einfache Anwendung: Der IDEXX Cancer Dx wurde so konzipiert, dass er sich nahtlos in bestehende Arbeitsabläufe der Praxis einfügt. Er kann mit einer einzigen Blutabnahme zu anderen Profilen hinzugefügt werden.



Umsetzbare nächste Schritte: IDEXX Cancer Dx liefert qualitative Ergebnisse bezüglich Lymphomen. In vielen Fällen wird bei einem positiven Befund die Klassifizierung eines B-Zell- bzw. T-Zell-Phänotyps mit angegeben.7



Überwachung der Behandlung: Frühe Daten zeigen, dass bei Patienten mit einem positiven Cancer Dx-Ergebnis zum Zeitpunkt der Diagnose durch wiederholte Tests die Remission während der Chemotherapie nach dem CHOP-Protokoll, einer häufigen Behandlung von Lymphomen beim Hund, überwacht werden kann.8



Individuelle Beratung und umfassender Support: Mit jedem IDEXX Cancer Dx-Ergebnis erhalten Praxen Zugang zur Medizinischen Fachberatung von IDEXX, darunter zertifizierte Onkologen/innen und Internisten/innen, sowie zu Informationsmaterial für Tierhalter/innen und Materialien zur Unterstützung der Kommunikation mit diesen.



Tiefere Einblicke: IDEXX Cancer Dx kann bestimmten Routineprofilen als Ergänzungstest hinzugefügt werden, so dass für Hunde in Risikogruppen zusätzliche Erkenntnisse aus Vorsorgeuntersuchungen gewonnen werden können.



Mit dem IDEXX Cancer Dx Test können Tierärztinnen und Tierärzte jetzt früher als bei herkömmlichen Laboruntersuchungen die klinische Diagnose von Lymphomen stützen.6 Aufgrund seiner einfachen Integration ist er ein unverzichtbares Tool für Praxen, die sich für ein proaktives Management maligner Tumorerkrankungen einsetzen.


In den nächsten drei Jahren plant IDEXX, den Cancer Dx Test so auszuweiten, dass er die Mehrzahl der Fälle maligner Neoplasien bei Hunden abdeckt, wodurch die Tumorerkennung grundlegend verändert und frühere Interventionen ermöglicht werden. Der IDEXX Cancer Dx Test auf Lymphome steht derzeit Tierarztpraxen in Deutschland über den Service des IDEXX Labors zur Verfügung. Weitere Informationen finden Sie auf der Webseite zu IDEXX Cancer Dx.


Über IDEXX


IDEXX ist ein weltweit führender Anbieter von Innovationen im Bereich der Tiergesundheit. Unsere Diagnose- und Softwarelösungen und Dienstleistungen schaffen Klarheit in der komplexen und sich ständig weiterentwickelnden Welt der Veterinärmedizin. Wir unterstützen ein längeres, erfüllteres Leben für Haustiere, indem wir Einblicke und Lösungen liefern, die der veterinärmedizinischen Gemeinschaft auf der ganzen Welt helfen, fundierte Entscheidungen zu treffen - um die medizinische Versorgung voranzutreiben, die Effizienz zu verbessern und erfolgreiche Praxen aufzubauen. Unsere Innovationen tragen auch dazu bei, die Sicherheit von Milch und Wasser weltweit zu gewährleisten und damit die Gesundheit und das Wohlbefinden von Menschen und Tieren zu erhalten. IDEXX Laboratories, Inc. ist Mitglied des S&P 500™ Index. IDEXX mit Hauptsitz in Maine beschäftigt fast 11.000 Mitarbeiter und bietet Kunden in mehr als 175 Ländern und Gebieten Lösungen und Produkte an. Weitere Informationen zu IDEXX finden Sie unter www.idexx.de.


Zukunftsgerichtete Aussagen


Bestimmte Aussagen in den Materialien auf der Website von IDEXX, in Beiträgen in sozialen Medien oder über andere Medien oder Kanäle können zukunftsgerichtete Aussagen darstellen. Zukunftsgerichtete Aussagen sind keine Aussagen über historische Fakten und können durch die Verwendung von Wörtern wie „erwarten“, „antizipieren“, „beabsichtigen“, „planen“, „glauben“, „schätzen“ und ähnlichen Ausdrücken identifiziert werden. Beispiele für zukunftsgerichtete Aussagen sind Aussagen über geplante oder zukünftige Produkteinführungen, Dienstleistungen, Merkmalen, Verbesserungen, Funktionalitäten, Angebotserweiterungen, erwartete Verfügbarkeit, kommerzielle Akzeptanz sowie kommerzielle oder operative Aktivitäten und Leistungen. Diese Aussagen spiegeln unsere aktuellen Erwartungen zum Zeitpunkt ihrer Abgabe wider und basieren auf unseren damaligen Einschätzungen, Überzeugungen und Annahmen. Sie werden darauf hingewiesen, sich nicht übermäßig auf diese zukunftsgerichteten Aussagen zu verlassen. Sie stellen keine Garantie für zukünftige Leistungen dar und beinhalten bekannte und unbekannte Risiken und Unsicherheiten, die dazu führen können, dass die tatsächlichen Ergebnisse wesentlich von den erwarteten abweichen. Dazu gehören unter anderem Änderungen der regulatorischen Anforderungen, der Marktbedingungen, der technologischen Entwicklungen sowie der Verfügbarkeit von Komponenten und Rohstoffen. Die in diesem Material enthaltenen zukunftsgerichteten Aussagen basieren auf zum Zeitpunkt der Veröffentlichung angemessenen Annahmen. Es wird jedoch keine Gewähr für die Richtigkeit, Vollständigkeit, Eintrittswahrscheinlichkeit oder Angemessenheit zukunftsgerichteter Aussagen übernommen. Diese zukunftsgerichteten Aussagen gelten nur zum Zeitpunkt ihrer Veröffentlichung. IDEXX übernimmt keine Verpflichtung, zukunftsgerichtete Aussagen öffentlich zu aktualisieren oder zu revidieren, sei es aufgrund neuer Informationen, zukünftiger Ereignisse oder aus anderen Gründen, es sei denn, dies ist nach geltendem Recht erforderlich. Der Zeitpunkt der Veröffentlichung, Lieferung oder Verfügbarkeit von Produkten, Dienstleistungen, Merkmalen, Funktionen, Verbesserungen oder Erweiterungen, auf die in Materialien von IDEXX Bezug genommen wird, kann von IDEXX nach eigenem Ermessen geändert werden und erfolgt möglicherweise nicht wie geplant oder überhaupt nicht. Kaufentscheidungen sollten auf Produkten, Dienstleistungen, Merkmalen und Funktionalitäten basieren, die aktuell verfügbar sind. Keine Aussage in diesem Material stellt eine verbindliche Zusage zur Lieferung eines bestimmten Produkts, Merkmals oder Funktionalität dar.


*Zu den Hunden in Risikogruppen zählen alle Hunde ab einem Alter von ≥ 7 Jahren sowie Hochrisikorassen ab 4 Jahren.


†IDEXX behält sich das Recht vor, seine Preise nach eigenem Ermessen und ohne vorherige Ankündigung jederzeit zu ändern, zu überarbeiten oder auf andere Weise zu ergänzen.


Literatur



What are the most common types of cancers in dogs? How many dogs typically get cancer? Veterinary Cancer Society; 2021. Zugriff am 7. April 2026. www.vetcancersociety.org/pet-owners/faqs



Vail DM, Pinkerton M, Young KM. Hematopoietic tumors. In: Vail DM, Thamm DH, Liptak JM, eds. Withrow and MacEwen's Small Animal Clinical Oncology. 6th ed. Saunders; 2020:688–772. doi:10.1016/B978-0-323-59496-7.00033-5



Daten hinterlegt bei IDEXX Laboratories, Inc. Westbrook, Maine, USA: Quantitative IDEXX-Studie mit Hundebesitzer/innen in Europa, Dezember 2024 (n = 1.251). Zu den untersuchten Regionen gehörten das Vereinigte Königreich, Deutschland, Frankreich, Spanien und Italien.



Daten hinterlegt bei IDEXX Laboratories, Inc. Westbrook, Maine, USA: Die Praxisdaten wurden von März 2025—Januar 2026 gesammelt.



Connell D, Nascimento A, Helm Z, Michael H. Early detection of lymphoma by IDEXX Cancer Dx testing in 7 cases. Poster vorgestellt beim: Veterinary Cancer Society Annual Conference; September 25–27, 2025; Salt Lake City, UT.



Daten hinterlegt bei IDEXX Laboratories, Inc. Westbrook, Maine, USA: Daten basieren auf Untersuchungen, die bei IDEXX Reference Laboratories

in Nordamerika zwischen 01.11.2024 und 06.12.2024 durchgeführt wurden. Untersuchungsbericht: IDEXX Cancer Dx-Validierung, 100282 [008_CancerDX-Validation-Report-2. Rmd].



Nascimento A, Connell D, Lyons H, et al. Analytical validation of a multimodal diagnostic assay for the detection and phenotypic classification of canine lymphoma. Poster vorgestellt beim: Veterinary Cancer Society Annual Conference; September 25–27, 2025; Salt Lake City, UT.



Nascimento A, Peterson S, Connell D, Helm Z, Venable R. Pilot Evaluation of IDEXX Cancer Dx testing for monitoring CHOP treatment response in canine lymphoma. Poster vorgestellt bei: Veterinary Cancer Society Annual Conference; September 25 –27, 2025; Salt Lake City, UT.


Originalversion auf businesswire.com ansehen: https://www.businesswire.com/news/home/20260414128409/de/
Presse

media@idexx.com


Investoren

investorrelations@idexx.com


Original: IDEXX verkündet die Verfügbarkeit des Cancer Dx Tests zur Früherkennung von Lymphomen bei Hunden in Deutschland

IDEXX Laboratories to Release 2026 First Quarter Financial ResultsApril 8, 2026 1:00 PM
Business Wire
IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, has scheduled the release of its 2026 first quarter financial results for Tuesday, May 5, 2026, before the market opens. The Company will conduct an analyst conference call beginning at 8:30 a.m. ET on that day.


Individuals can access a live webcast of the conference call, transcript of prepared remarks, and the Q1 2026 Earnings Snapshot through a link on the IDEXX website, www.idexx.com/investors. An archived edition of the webcast will be available after 1:00 p.m. ET on that day via the same link and will remain available for one year.


The live call also will be accessible by telephone. To listen to the live conference call, please dial 1-800-330-6730 or 1-213-279-1575 and reference passcode 492760.


About IDEXX Laboratories, Inc.


IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500™ Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit www.idexx.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260408546403/en/
Investor Relations

investorrelations@idexx.com


Original: IDEXX Laboratories to Release 2026 First Quarter Financial Results

IDEXX Announces UK Availability of Cancer Dx Panel for Early Detection of Canine LymphomaApril 1, 2026 3:00 AM
Business Wire
Helping clinicians investigate sooner and plan next steps with confidence


IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today announced the availability of the IDEXX Cancer Dx™ Panel in the United Kingdom, beginning with early detection of lymphoma in at-risk* dogs. The blood test can be added to panels for sick pets and integrated into regular wellness screenings, with veterinarian pricing starting from £22.50† and results available to UK practices within 3–5 business days.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260401831720/en/IDEXX Cancer Dx Panel with lymphoma testing
Cancer remains a leading cause of canine death, with 1 in 4 dogs expected to be diagnosed with cancer in their lifetime.1 Lymphoma, one of the most common cancers, accounts for nearly a quarter of new cancer diagnoses.2 Treatment for canine lymphoma may help extend the lifespan and improve the quality of life for affected dogs, highlighting the critical need for early detection and intervention.


Research indicates that 71% of pet owners in the UK are interested in having a cancer screening test for their pet,3 signalling strong demand for proactive, wellness care.


That momentum is already visible in practice. Since the test launched in North America in 2025, nearly 6,000 veterinary practices across the United States and Canada have integrated the test into diagnostic and wellness workflows.4 The test can detect a lymphoma signal up to eight months before clinical signs appear5– helping clinicians investigate sooner and plan next steps with confidence.


“Building on more than 40 years of IDEXX’s leadership in veterinary research and technology development, IDEXX Cancer Dx is an important advancement to deliver unmatched diagnostic insights,” said Jay Mazelsky, President and Chief Executive Officer of IDEXX. “As leaders in key cancer diagnostic categories, like pathology and imaging, we continue to innovate technologies that can redefine how veterinarians approach cancer detection and monitoring in pets. We’re proud to be at the forefront of early cancer detection in dogs and delighted to expand access to reliable cancer testing in the UK.”


The IDEXX Cancer Dx Panel with lymphoma testing features:



Accuracy: 79% sensitivity and 99% specificity yield results that can be used with confidence for both sick dogs and in routine preventative care for at-risk dogs.6



Simplicity: Designed to fit seamlessly into existing veterinary workflows, clinicians can add IDEXX Cancer Dx to diagnostic and wellness panels using a single blood draw.



Actionable next steps: IDEXX Cancer Dx delivers qualitative results for lymphoma. In many cases, B-cell and T-cell phenotype classification will be provided with positive results.7



Treatment Monitoring: Early data shows that for patients with a positive Cancer Dx result at diagnosis, repeated testing can monitor remission during CHOP chemotherapy, a common treatment for canine lymphoma.8



Personalised guidance and comprehensive support: Every IDEXX Cancer Dx result comes with access to IDEXX Medical Consultants, including board-certified oncologists and internists, along with pet-owner education materials and resources to support client communications.



Deeper insights: IDEXX Preventative Care, a comprehensive portfolio of products and services supporting veterinarians in preventative care, now includes IDEXX Cancer Dx testing, unlocking additional insights for at-risk dogs.



With IDEXX Cancer Dx testing, general practitioners can now support a clinical diagnosis of lymphoma earlier than traditional diagnostics.6 Its ease of integration makes it an essential tool for practices committed to proactive cancer management.


Over the next three years, IDEXX plans to expand the Cancer Dx Panel to cover the majority of canine cancer cases, transforming cancer detection, and enabling earlier intervention. The IDEXX Cancer Dx lymphoma test is currently available to veterinary practices in the United Kingdom through the IDEXX Reference Laboratories service. For more information, visit the IDEXX Cancer Dx testing web page.


About IDEXX


IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500TM Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit: www.idexx.com.


Note regarding forward-looking statements


This news release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as ‘expects’, ‘may’, ‘anticipates’, ‘intends’, ‘would’, ‘will’, ‘plans’, ‘believes’, ‘estimates’, ‘should’ and similar words and expressions. These forward-looking statements are intended to provide our current expectations or forecasts of future events; are based on current estimates, projections, beliefs, and assumptions; and are not guarantees of future performance. Actual events or results may differ materially from those described in the forward-looking statements. These statements are subject to risks, uncertainties, assumptions, and other important factors. Readers are advised not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by IDEXX pursuant to United States securities laws contain discussions of some of these risks and uncertainties. IDEXX assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are advised to review IDEXX’s filings with the United States Securities and Exchange Commission (which are available from the SEC’s EDGAR database at sec.gov and via IDEXX’s website at idexx.com).


*At-risk dogs include all dogs ≥ 7 years old and high-risk breeds ≥ 4 years old.

†IDEXX reserves the right, at its sole discretion and without prior notice, to modify, revise, or otherwise amend its pricing at any time.


References



What are the most common types of cancers in dogs? How many dogs typically get cancer? Veterinary Cancer Society; 2021. Accessed January 16, 2024. www.vetcancersociety.org/pet-owners/faqs.



Vail DM, Pinkerton M, Young KM. Hematopoietic tumours. In: Vail DM, Thamm DH, Liptak JM, eds. Withrow and MacEwen's Small Animal Clinical Oncology. 6th ed. Saunders; 2020:688–772. doi:10.1016/B978-0-323-59496-7.00033-5



Data on file at IDEXX Laboratories, Inc. Westbrook, Maine USA: IDEXX quantitative research with dog owners in Europe, December 2024 (n = 1,251). Regions surveyed included the United Kingdom, Germany, France, Spain, and Italy.



Data on file at IDEXX Laboratories, Inc. Westbrook, Maine USA: Practice data collected March 2025–January 2026.



Connell D, Nascimento A, Helm Z, Michael H. Early detection of lymphoma by IDEXX Cancer Dx testing in 7 cases. Poster presented at: Veterinary Cancer Society Annual Conference; September 25–27, 2025; Salt Lake City, UT.



Data on file at IDEXX Laboratories, Inc. Westbrook, Maine USA: Data based on testing performed at IDEXX Reference Laboratories in North America between 1 November 2024 and 6 December 2024. Analysis Report: IDEXX Cancer Dx Validation, 100282 [008_CancerDx-Validation-Report-2. Rmd].



Nascimento A, Connell D, Lyons H, et al. Analytical validation of a multimodal diagnostic assay for the detection and phenotypic classification of canine lymphoma. Poster presented at: Veterinary Cancer Society Annual Conference; September 25–27, 2025; Salt Lake City, UT.



Nascimento A, Peterson S, Connell D, Helm Z, Venable R. Pilot Evaluation of IDEXX Cancer Dx testing for monitoring CHOP treatment response in canine lymphoma. Poster presented at: Veterinary Cancer Society Annual Conference; September 25 –27, 2025; Salt Lake City, UT.


View source version on businesswire.com: https://www.businesswire.com/news/home/20260401831720/en/
Media Relations

media@idexx.com


Investor Relations

investorrelations@idexx.com


Original: IDEXX Announces UK Availability of Cancer Dx Panel for Early Detection of Canine Lymphoma

IDEXX Laboratories tops revenue forecasts, shares edge lower on outlookFebruary 2, 2026 8:47 AM
IH Market News
IDEXX Laboratories (NASDAQ:IDXX) posted a solid set of fourth-quarter results on Monday, with revenue rising 14% to $1.09 billion, beating analyst estimates of $1.07 billion, helped by strong momentum in its companion animal diagnostics operations.Despite the revenue beat, IDEXX shares slipped 0.37% in premarket trading after the release.The company’s guidance for 2026 was broadly in line with market expectations. IDEXX forecast full-year revenue of between $4.63 billion and $4.72 billion, with earnings per share projected in the range of $14.29 to $14.80.For the quarter, adjusted earnings per share came in at $2.92, just below the consensus estimate of $2.93. Revenue growth was underpinned by a 12% increase in recurring revenue from CAG Diagnostics, which reached $849.7 million. IDEXX also reported a record number of quarterly instrument placements, including more than 1,900 IDEXX inVue Dx systems.“2025 was a pivotal year for the Company, marked by the successful launch of IDEXX Cancer Dx for canine lymphoma and meaningful adoption of IDEXX inVue Dx well ahead of our initial goals,” said Jay Mazelsky, president and chief executive officer.Profitability improved during the quarter, with operating margin expanding by 150 basis points year on year to 28.9%, while adjusted operating margin rose by 120 basis points. The CAG segment, which supports veterinary clinics, recorded a 15% increase in revenue to $998.5 million, with international markets growing 17%.IDEXX’s Water segment also delivered a strong performance, as revenue climbed 12% to $50.5 million. The company’s global installed base of premium instruments grew 12% from a year earlier, helping drive a 17% increase in consumables revenue.Looking ahead to 2026, IDEXX expects organic revenue growth of 7.0% to 9.0%, led by organic growth of 8.0% to 10.0% in CAG Diagnostics recurring revenue. The company also anticipates operating margin expansion of between 40 and 90 basis points.IDEXX Laboratories stock price

Original: IDEXX Laboratories tops revenue forecasts, shares edge lower on outlook

IDEXX Laboratories Announces Fourth Quarter and Full Year 2025 ResultsFebruary 2, 2026 6:30 AM
Business Wire

Achieves fourth quarter revenue growth of 14% as reported and 12% organic, reflecting strong CAG Diagnostics recurring revenue, growing 12% reported and 10% organic.



Strong organic growth benefits from IDEXX execution and commercial performance, including over 1,900 IDEXX inVue Dx™ placements, delivering a quarterly record of instrument placements and 12% year-over-year expansion of IDEXX's global premium instrument installed base.



Delivers fourth quarter EPS of $3.08, an increase of 18% as reported and 17% on a comparable basis, supported by operating margin expansion of 150 basis points as reported and 120 basis points on a comparable basis.




Provides initial outlook for 2026 revenue guidance range of $4,632 million - $4,720 million, reflecting growth of 7.6% - 9.6% reported and 7.0% - 9.0% organic, led by CAG Diagnostics recurring revenue growth of 8.6% - 10.6% as reported and 8.0% - 10.0% on an organic basis.




Projects 2026 EPS of $14.29 - $14.80, an increase of 9% - 13% as reported and 10% - 14% on a comparable basis.



IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today announced fourth quarter and full year results.


Fourth Quarter and Full Year Results


The Company reports revenues of $1,091 million for the fourth quarter of 2025, an increase of 14% compared to the prior year period as reported and 12% on an organic basis, driven by Companion Animal Group ("CAG") growth of 15% as reported and 13% organic and Water revenue growth of 12% as reported and 10% organic.


Earnings per diluted share (“EPS”) were $3.08 for the fourth quarter, an increase of 18% as reported and 17% on a comparable basis. Results reflect operating margin expansion of 150 basis points as reported and 120 basis points on a comparable basis. Fourth quarter EPS included $0.09 per share positive impact from currency changes and $0.07 per share in tax benefits from share-based compensation.


Revenue for the full year of $4,304 million increased 10% as reported and organically, driven by 9% as reported and 8% organic growth in CAG Diagnostics recurring revenue.


For the full year 2025, EPS of $13.08 increased 23% on a reported basis and 14% on a comparable basis, including a ~7% EPS growth benefit from comparison to the prior years discrete litigation expense accrual. EPS results reflect operating margin expansion of 270 basis points as reported, including a ~180 basis point positive impact from comparison to the prior years discrete litigation expense accrual, and 90 basis points on a comparable basis. EPS results include lapping a $0.56 negative impact in 2024 and an $0.08 positive impact in the first quarter of 2025 from a discrete litigation expense accrual adjustment, as well as $0.35 in tax benefits from share-based compensation, and $0.10 positive impact from currency changes.


“IDEXX delivered a strong finish to 2025, supported by consistently high levels of execution by IDEXX teams around the world,” said Jay Mazelsky, President and Chief Executive Officer. “2025 was a pivotal year for the Company, marked by the successful launch of IDEXX Cancer Dx™ for canine lymphoma and meaningful adoption of IDEXX inVue Dx well ahead of our initial goals. These innovations represent an important new phase of IDEXX’s growth, expanding the role of diagnostics in earlier disease detection while helping veterinarians improve efficiency and manage workflow complexity. We enter 2026 with an exciting innovation pipeline, expanding instrument and software installed bases, and strong momentum across our global business.”


Fourth Quarter Performance Highlights


Companion Animal Group


CAG revenue growth was led by CAG Diagnostics recurring revenue growth of 12% as reported and 10% organic, including 17% reported and 12% organic gains in international regions, and 9% reported and organic growth in the U.S., outpacing sector growth levels. U.S. growth was aided by increased diagnostic frequency, including early benefits from an aging pet population.


Additional U.S. companion animal practice key metrics are available in the Q4 2025 Earnings Snapshot accessible on the IDEXX website, www.idexx.com/investors.


Sustained commercial execution - including net customer gains, growing benefits from IDEXX innovation, and expansion of the premium instrument installed base - drove double-digit CAG Diagnostics recurring revenue growth.



IDEXX VetLab™ consumables generated 17% revenue growth as reported and 15% organically, led by recent product launches, 12% global premium instrument installed base growth, and testing utilization expansion.




Reference laboratory diagnostic and consulting services generated 11% revenue growth as reported and 9% organically, with benefits from higher testing volumes, new customer acquisition, and net price gains.




Rapid assay products revenues declined 2% as reported and 3% organically, as volumes continue to be impacted by the launch of the Catalyst™ Pancreatic Lipase Test in late 2024, which shifted some testing volume across modalities.



CAG Diagnostics capital instrument revenues expanded 76% as reported and 69% on an organic basis, led by record quarterly instrument placements, including benefits from over 1,900 IDEXX inVue Dx placements and nearly 1,400 new and competitive Catalyst placements.


Veterinary software, services and diagnostic imaging systems revenue growth increased 13% as reported and organically, led by continued cloud-native software installed base expansion.


Water


Water revenues grew 12% reported and 10% organic for the quarter, reflecting solid growth in the U.S. and International regions.


Livestock, Poultry and Dairy (“LPD”)


LPD revenues increased 8% reported and 4% organic for the quarter, led by solid gains in North and Latin America across major product categories.


Gross Profit and Operating Profit


Gross profit increased 15% as reported and 13% on a comparable basis. Gross margin of 60.3% expanded 50 basis points as reported and 60 basis points on a comparable basis, supported by strong volume gains, reference laboratory productivity initiatives, and net price realization, helping to offset inflationary impacts.


Operating margin was 28.9% in the quarter, 150 basis points higher than the prior year period results on a reported basis and 120 basis points on a comparable basis. Operating margin results reflect an 11% operating expense increase as reported and 10% growth on a comparable basis. Operating expense growth was driven by investments in commercial resources and higher R&D spend related to advancing the Company's innovation roadmap.


2026 Growth and Financial Performance Outlook


The Company's initial 2026 revenue guidance range of $4,632 million - $4,720 million, or reported growth of 7.6% - 9.6% and 7.0% - 9.0% on an organic basis, is supported by 8.6% - 10.6% reported and 8.0% - 10.0% organic CAG Diagnostics recurring revenue growth. The guidance range for global CAG Diagnostics recurring revenue growth reflects expectations for sustained benefits from execution drivers, supporting continued solid volume gains, and an estimated 4% full-year benefit from net price improvement. 2026 EPS guidance of $14.29 - $14.80 reflects expectations for solid organic revenue gains and a targeted 40 - 90 basis points of reported operating margin improvement.


The following table provides the Company's initial estimates for annual key financial metrics in 2026:


Amounts in millions except per share data and percentages




Growth and Financial Performance Outlook






 






2026






 








 






 






 






 






 






 








Revenue






 






$4,632






-






$4,720






 








Reported growth






 






7.6%






-






9.6%






 








Organic growth






 






7.0%






-






9.0%






 








CAG Diagnostics Recurring Revenue Growth






 






 






 






 






 








Reported growth






 






8.6%






-






10.6%






 








Organic growth






 






8.0%






-






10.0%






 








Operating Margin






 






32.0%






-






32.5%






 








Reported operating margin expansion






 






40






-






90 bps






 








Comparable operating margin expansion






 






30






-






80 bps






 








EPS






 






$14.29






-






$14.80






 








Reported growth






 






9%






-






13%






 








Comparable growth






 






10%






-






14%






 








Other Key Metrics






 






 






 






 






 








Net interest expense






 






~ $34






 








Share-based compensation tax benefit






 






~ $15






 








Share-based compensation tax rate benefit






 






~ 1%






 








Effective tax rate






 






~ 21.3%






 








Share-based compensation EPS impact






 






~ $0.19






 








Reduction in average shares outstanding






 






1%






-






2%






 








Operating Cash Flow (% of Net Income)






 






105% - 115%






 








Free Cash Flow (% of Net Income)






 






85% - 95%






 








Capital Expenditures






 






~ $180






 







The following table outlines estimates of foreign currency exchange rate impacts, net of foreign currency hedging transactions, and foreign currency exchange rate assumptions reflected in the above financial performance outlook for 2026.




Estimated Foreign Currency Exchange Rate Impacts






 






2026






 








 






 






 






 








Revenue growth rate impact






 






~ 0.6%






 








CAG Diagnostics recurring revenue growth rate impact






 






~ 0.6%






 








Operating margin growth impact






 






~ 30 bps






 








EPS impact






 






~ $0.22






 








EPS growth impact






 






~ 2%






 








 






 






 






 








Go-forward Foreign Currency Exchange Rate Assumptions






 






 






 








In U.S. dollars






 






 






 








euro






 






$1.16






 








British pound






 






$1.33






 








Canadian dollar






 






$0.72






 








Australian dollar






 






$0.66






 








Relative to the U.S. dollar






 






 






 








Japanese yen






 






¥157






 








Chinese renminbi






 






¥7.05






 








Brazilian real






 






R$5.45






 







Conference Call and Webcast Information


IDEXX Laboratories, Inc. will host a conference call today at 8:30 a.m. (Eastern) to discuss its 2025 fourth quarter and full year financial results and management’s outlook for 2026. To participate in the conference call, dial 1-800-330-6730 or 1-213-279-1575 and reference passcode 263206. Individuals can access a live webcast of the conference call on the IDEXX website, www.idexx.com/investors. An archived edition of the webcast will be available after 1:00 p.m. (Eastern) on that day via the same link and will remain available for one year.


About IDEXX Laboratories, Inc.


IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500™ Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit www.idexx.com.


Note Regarding Forward-Looking Statements


This earnings release and the statements to be made in the accompanying earnings conference call contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including forward-looking statements about the Company’s business prospects and estimates of the Company’s financial results for future periods. Forward-looking statements are included under "2026 Growth and Financial Performance Outlook" and elsewhere in this earnings release and can be identified by the use of words such as "expects", "may", "anticipates", "intends", "would", "will", "plans", "believes", "estimates", "projected", "should", and similar words and expressions. Our forward-looking statements include statements relating to our expectations regarding financial and business performance; revenue growth and EPS outlooks; operating and free cash flow forecast; projected impact of foreign currency exchange rates and interest rates; projected operating margins and expenses and capital expenditures; projected tax, tax rate and EPS benefits from share-based compensation arrangements; projected effective tax rates, reduction of average shares outstanding and net interest expense; share repurchases; addition of mast cell tumor detection to IDEXX Cancer Dx panel, international launch of IDEXX Cancer Dx canine lymphoma test and canine lymphoma monitoring opportunity; IDEXX inVue Dx instrument placements, premium instrument installed base expansion and CAG instrument revenue; U.S. clinical visit levels and trends; net price realization; and impact of tariffs. These statements are intended to provide management's expectations or forecasts of future events as of the date of this earnings release; are based on management's estimates, projections, beliefs and assumptions as of the date of this earnings release; and are not guarantees of future performance. These forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, among other things, the adverse impact, and the duration, of macroeconomic events, conditions, and uncertainties, such as geopolitical instability (including wars, terrorist attacks, and armed conflicts), general economic uncertainty, changes in U.S. and other countries’ tariff and trade policies, severe weather and other natural conditions, and supply chain challenges on our business, results of operations, liquidity, financial condition, and stock price, as well as the other matters described under the headings "Business," "Risk Factors," "Legal Proceedings," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures About Market Risk" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in the corresponding sections of the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025, as well as those described from time to time in the Company’s other filings with the U.S. Securities and Exchange Commission available at www.sec.gov. The Company specifically disclaims any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.


Statement Regarding Non-GAAP Financial Measures


The following defines terms and conventions and provides reconciliations regarding certain measures used in this earnings release and/or the accompanying earnings conference call that are not required by, or presented in accordance with, generally accepted accounting principles in the United States of America ("GAAP"), otherwise referred to as non-GAAP financial measures. To supplement the Company’s consolidated results presented in accordance with GAAP, the Company has disclosed non-GAAP financial measures that exclude or adjust certain items. Management believes these non-GAAP financial measures provide useful supplemental information for its and investors’ evaluation of the Company’s business performance and liquidity and are useful for period-over-period comparisons of the performance of the Company’s business and its liquidity and to the performance and liquidity of our peers. While management believes that these non-GAAP financial measures are useful in evaluating the Company’s business, this information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies.


Constant currency - Constant currency references are non-GAAP financial measures which exclude the impact of changes in foreign currency exchange rates and are consistent with how management evaluates our performance and comparisons with prior and future periods. We estimated the net impacts of currency on our revenue, gross profit, operating profit, and EPS results by restating results to the average exchange rates or exchange rate assumptions for the comparative period, which includes adjusting for the estimated impacts of foreign currency hedging transactions and certain impacts on our effective tax rates. These estimated currency changes impacted fourth quarter 2025 results as follows: increased gross profit growth by 2.0%, decreased gross margin growth by 10 basis points, increased operating expense growth by 0.7%, increased operating profit margin growth by 30 basis points, and increased EPS growth by 3.4%. Estimated currency changes impacted full year 2025 results as follows: increased gross profit growth by 0.8%, decreased gross margin growth by 10 basis points, increased operating expense growth by 0.6%, negligible operating profit margin growth of 0 basis points, and increased EPS growth by 0.9%. Constant currency revenue growth represents the percentage change in revenue during the applicable period, as compared to the prior year period, excluding the impact of changes in foreign currency exchange rates. See the supplementary analysis of results below for revenue percentage change from currency for the three months and year ended December 31, 2025 and refer to the 2026 Growth and Financial Performance Outlook section of this press release for estimated foreign currency exchange rate impacts on 2026 projections and estimates.


Growth and organic revenue growth - All references to growth and organic growth refer to growth compared to the equivalent prior year period unless specifically noted. Organic revenue growth is a non-GAAP financial measure that represents the percentage change in revenue, as compared to the same period for the prior year, net of the impact of changes in foreign currency exchange rates, certain business acquisitions, and divestitures. Management believes that reporting organic revenue growth provides useful information to investors by facilitating easier comparisons of our revenue performance with prior and future periods and to the performance of our peers. Organic revenue growth should be considered in addition to, and not as a replacement of or a superior measure to, revenue growth reported in accordance with GAAP. See the supplementary analysis of results below for a reconciliation of reported revenue growth to organic revenue growth for the three and twelve months ended December 31, 2025. Please refer to the constant currency note above for a summary of foreign currency exchange rate impacts. The percentage change in revenue resulting from acquisitions represents revenues during the current year period, limited to the initial 12 months from the date of the acquisition, that are directly attributable to business acquisitions. Revenue from acquisitions is expected to increase projected full year 2026 revenue growth by an immaterial amount.


We exclude from organic revenue growth the effect of changes in foreign currency exchange rates because changes in foreign currency exchange rates are not under management’s control, are subject to volatility, and can obscure underlying business trends. We calculate the impact on revenue resulting from changes in foreign currency exchange rates by applying the difference between the weighted average exchange rates during the current year period and the comparable prior year period to foreign currency denominated revenues for the prior year period.


We also exclude from organic revenue growth the effect of certain business acquisitions and divestitures because the nature, size, and number of these transactions can vary dramatically from period to period, and because they either require or generate cash as an inherent consequence of the transaction, and therefore can also obscure underlying business and operating trends. We consider acquisitions to be a business when all three elements of inputs, processes, and outputs are present, consistent with ASU 2017-01, “Business Combinations: (Topic 805) Clarifying the Definition of a Business.” In a business combination, if substantially all the fair value of the assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, we do not consider these assets to be a business. A typical acquisition that we do not consider a business is a customer list asset acquisition, which does not have all elements necessary to operate a business, such as employees or infrastructure. We believe the efforts required to convert and retain these acquired customers are similar in nature to our existing customer base and therefore are included in organic revenue growth.


Comparable growth metrics - Comparable gross profit growth, comparable gross margin gain (or growth), comparable operating expense growth, comparable operating profit growth and comparable operating margin gain (or growth) are non-GAAP financial measures and exclude the impact of changes in foreign currency exchange rates and non-recurring or unusual items (if any). Please refer to the constant currency note above for a summary of foreign currency exchange rate impacts. Management believes that reporting comparable gross profit growth, comparable gross margin gain (or growth), comparable operating expense growth, comparable operating profit growth and comparable operating margin gain (or growth) provides useful information to investors because it enables better period-over-period comparisons of the fundamental financial results by excluding items that vary independent of performance and provides greater transparency to investors regarding key metrics used by management. Comparable gross profit growth, comparable gross margin gain (or growth), comparable operating expense growth, comparable operating profit growth and comparable operating margin gain (or growth) should be considered in addition to, and not as replacements of or superior measures to, gross profit growth, gross margin gain, operating expense growth, operating profit growth and operating margin gain reported in accordance with GAAP.


The reconciliation of these non-GAAP financial measures is as follows:




 






 






Three Months Ended






 






Year-over-Year






 






Twelve Months Ended






 






Year-over-Year








 






 






December 31,






 






December 31,






 






Change






 






December 31,






 






December 31,






 






Change








Dollar amounts in thousands






 






 






2025






 






 






 






2024






 






 






 






 






 






2025






 






 






 






2024






 






 






 








Gross profit and growth (as reported)






 






$






658,114






 






 






$






570,660






 






 






15






%






 






$






2,659,579






 






 






$






2,378,927






 






 






12






%








Gross margin and margin gain






 






 






60.3






%






 






 






59.8






%






 






50 bps






 






 






61.8






%






 






 






61.0






%






 






80 bps








Less: comparability adjustments






 






 






 






 






 






 






 






 






 






 






 






 








Change from currency






 






 






11,448






 






 






 






—






 






 






 






 






 






18,110






 






 






 






—






 






 






 








Comparable gross profit and growth






 






$






646,666






 






 






$






570,660






 






 






13






%






 






$






2,641,470






 






 






$






2,378,927






 






 






11






%








Comparable gross margin and margin gain






 






 






60.4






%






 






 






59.8






%






 






60 bps






 






 






61.9






%






 






 






61.0






%






 






80 bps








 






 






 






 






 






 






 






 






 






 






 






 






 








Operating expenses and growth (as reported)






 






$






342,509






 






 






$






308,974






 






 






11






%






 






$






1,299,548






 






 






$






1,250,590






 






 






4






%








Less: comparability adjustments






 






 






 






 






 






 






 






 






 






 






 






 








Change from currency






 






 






2,073






 






 






 






—






 






 






 






 






 






7,897






 






 






 






—






 






 






 








Now-concluded litigation matter






 






 






—






 






 






 






—






 






 






 






 






 






(8,600






)






 






 






61,500






 






 






 








Comparable operating expense and growth






 






 






340,436






 






 






 






308,974






 






 






10






%






 






 






1,300,251






 






 






 






1,189,090






 






 






9






%








 






 






 






 






 






 






 






 






 






 






 






 






 








Operating profit and growth (as reported)






 






$






315,605






 






 






$






261,686






 






 






21






%






 






$






1,360,031






 






 






$






1,128,337






 






 






21






%








Operating margin and margin gain






 






 






28.9






%






 






 






27.4






%






 






150 bps






 






 






31.6






%






 






 






29.0






%






 






270 bps








Less: comparability adjustments






 






 






 






 






 






 






 






 






 






 






 






 








Change from currency






 






 






9,375






 






 






 






—






 






 






 






 






 






10,213






 






 






 






—






 






 






 








Now-concluded litigation matter






 






 






—






 






 






 






—






 






 






 






 






 






8,600






 






 






 






(61,500






)






 






 








Comparable operating profit and growth






 






$






306,230






 






 






$






261,686






 






 






17






%






 






$






1,341,218






 






 






$






1,189,837






 






 






13






%








Comparable operating margin and margin gain






 






 






28.6






%






 






 






27.4






%






 






120 bps






 






 






31.4






%






 






 






30.5






%






 






90 bps








Amounts presented may not recalculate due to rounding.







Projected 2026 comparable operating margin expansion outlined in the 2026 Growth and Financial Performance Outlook section of this earnings release reflects: (i) full year 2025 reported operating margin adjusted for 20 basis point favorable impact of discrete expense accrual related to now-concluded litigation matter in the first quarter of 2025; and (ii) projected full year 2026 reported operating margin adjusted for estimated positive year-over-year foreign currency exchange rate change impact of approximately 30 basis points.


These impacts described above reconcile reported gross profit growth, gross margin gain, operating expense growth, operating profit growth and operating margin gain (including projected 2026 operating margin expansion) to comparable gross profit growth, comparable gross margin gain, comparable operating expense growth, comparable operating profit growth and comparable operating margin gain for the Company.


Comparable EPS and growth - Comparable EPS and growth are non-GAAP financial measures that represents the percentage change in earnings per share (diluted) ("EPS") for a measurement period, as compared to the prior base period, net of the impact of changes in foreign currency exchange rates from the prior base period and excluding the tax benefits of share-based compensation activity under ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, and non-recurring or unusual items (if any). Management believes comparable EPS and growth are a more useful way to measure the Company’s business performance than EPS and growth because it enables better period-over-period comparisons of the fundamental financial results by excluding items that vary independent of performance and provides greater transparency to investors regarding a key metric used by management. Comparable EPS and growth should be considered in addition to, and not as a replacement of or a superior measure to, EPS and growth reported in accordance with GAAP. Please refer to the constant currency note above for a summary of foreign currency exchange rate impacts.


The reconciliation of this non-GAAP financial measure is as follows:




 






 






Three Months Ended






 






Year-over-Year






 






Twelve Months Ended






 






Year-over-Year








 






 






December 31,






 






December 31,






 






Growth






 






December 31,






 






December 31,






 






Growth








 






 






2025






 






2024






 






 






 






2025






 






 






2024






 






 






 








Earnings per share (diluted) and growth






 






$






3.08






 






$






2.62






 






18






%






 






$






13.08






 






$






10.67






 






 






23






%








Less: comparability adjustments






 






 






 






 






 






 






 






 






 






 






 






 








Share-based compensation activity






 






 






0.07






 






 






0.13






 






 






 






 






0.35






 






 






0.24






 






 






 








Now-concluded litigation matter






 






 






—






 






 






—






 






 






 






 






0.08






 






 






(0.56






)






 






 








Change from currency






 






 






0.09






 






 






—






 






 






 






 






0.10






 






 






—






 






 






 








Comparable EPS and growth






 






$






2.92






 






$






2.49






 






17






%






 






$






12.55






 






$






10.99






 






 






14






%








Amounts presented may not recalculate due to rounding.







Projected 2026 comparable EPS growth outlined in the 2026 Growth and Financial Performance Outlook section of this earnings release reflects the following adjustments: (i) full year 2025 reported EPS adjusted for positive benefit of share-based compensation activity of $0.35 and $0.08 positive impact from a discrete expense accrual release related to a now-concluded litigation matter in the first quarter of 2025; and (ii) projected full year 2026 reported EPS adjusted for positive benefit of estimated share-based compensation activity of $0.19 and estimated positive year-over-year foreign currency exchange rate change impact of $0.22.


These impacts and those described in the constant currency note above reconcile reported EPS growth (including projected 2026 reported EPS growth) to comparable EPS growth for the Company.


Segment and Other Income from Operations - We report segment income from operations in our Segment Information table below. Segment income from operations is a non-GAAP financial measure that adjusts for the impact of foreign currency transaction gains and losses and should be considered in addition to, and not as a replacement for, or superior measure to, income from operations. We exclude foreign currency transaction gains and losses for each reportable segment (CAG, Water, and LPD) from segment income from operations and report the full amount of foreign currency transaction gains and losses in Other. We believe that reporting segment income from operations provides supplemental analysis to help investors further evaluate each reportable segment’s business performance by excluding foreign currency transaction gains and losses, which are centrally managed by our corporate treasury function and which we do not consider relevant for assessing the results of each reportable segment’s operations. In addition, we believe that reporting segment income from operations provides information to investors regarding key metrics that are used by management, including our chief operating decision-maker, in evaluating the performance of each reportable segment.


The reconciliation of this non-GAAP financial measure is as follows for the three and twelve months ended December 31, 2025 and 2024:




Amounts in thousands






 






Three Months Ended December 31,








 






 






2025






 






 






2024






 








 






 






Income from Operations






 






Impact from Foreign Currency






 






Segment and Other Income from Operations






 






Income from Operations






 






Impact from Foreign Currency






 






Segment and Other Income from Operations








CAG






 






$






291,320






 






 






$






1,150






 






 






$






292,470






 






 






$






236,695






 






$






3,393






 






 






$






240,088






 








Water






 






 






21,308






 






 






 






86






 






 






 






21,394






 






 






 






20,729






 






 






262






 






 






 






20,991






 








LPD






 






 






3,040






 






 






 






98






 






 






 






3,138






 






 






 






3,060






 






 






319






 






 






 






3,379






 








Other






 






 






(63






)






 






 






(1,334






)






 






 






(1,397






)






 






 






1,202






 






 






(3,974






)






 






 






(2,772






)








Total






 






$






315,605






 






 






$






—






 






 






$






315,605






 






 






$






261,686






 






$






—






 






 






$






261,686






 









Amounts in thousands






 






Twelve months ended December 31,








 






 






2025






 






2024








 






 






Income from Operations






 






Impact from Foreign Currency






 






Segment and Other Income from Operations






 






Income from Operations






 






Impact from Foreign Currency






 






Segment and Other Income from Operations








CAG






 






$






1,260,969






 






$






3,604






 






 






$






1,264,573






 






 






$






1,034,539






 






$






3,877






 






 






$






1,038,416






 








Water






 






 






92,999






 






 






269






 






 






 






93,268






 






 






 






84,244






 






 






289






 






 






 






84,533






 








LPD






 






 






2,942






 






 






287






 






 






 






3,229






 






 






 






6,272






 






 






361






 






 






 






6,633






 








Other






 






 






3,121






 






 






(4,160






)






 






 






(1,039






)






 






 






3,282






 






 






(4,527






)






 






 






(1,245






)








Total






 






$






1,360,031






 






$






—






 






 






$






1,360,031






 






 






$






1,128,337






 






$






—






 






 






$






1,128,337






 







Free cash flow - Free cash flow is a non-GAAP financial measure and means, with respect to a measurement period, the cash generated from operations during that period, reduced by the Company’s investments in property and equipment. Management believes free cash flow is a useful measure because it indicates the cash the operations of the business are generating after appropriate reinvestment for recurring investments in property and equipment that are required to operate the business. Free cash flow should be considered in addition to, and not as a replacement of or a superior measure to, net cash provided by operating activities. See the supplementary analysis of results below for our calculation of free cash flow for the years ended December 31, 2025 and 2024. To estimate projected 2026 free cash flow, we have deducted projected purchases of property and equipment (also referred to as capital expenditures) of ~180 million. Free cash flow conversion, or the net income to free cash flow ratio, is a non-GAAP financial measure that is defined as free cash flow, with respect to a measurement period, divided by net income for the same period. To calculate the free cash flow conversion for the twelve months ended December 31, 2025, we have deducted purchases of property and equipment of approximately $125 million from net cash provided from operating activities of approximately $1,182 million, divided by net income of approximately $1,059 million.


Debt to Adjusted EBITDA (Leverage Ratios) - Adjusted EBITDA, gross debt, and net debt are non-GAAP financial measures. Adjusted EBITDA is a non-GAAP financial measure of earnings before interest, taxes, depreciation, amortization, non-recurring transaction expenses incurred in connection with acquisitions, share-based compensation expense, and certain other non-cash losses and charges. Management believes that reporting Adjusted EBITDA, gross debt and net debt in the Debt to Adjusted EBITDA ratios provides supplemental analysis to help investors further evaluate the Company's business performance and available borrowing capacity under the Company's credit facility. Adjusted EBITDA, gross debt, and net debt should be considered in addition to, and not as replacements of or superior measures to, net income or total debt reported in accordance with GAAP. For further information on how Adjusted EBITDA and the Debt to Adjusted EBITDA Ratios are calculated, see the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025.


After-Tax Return on Invested Capital, Excluding Cash and Investments (“ROIC”) - After-Tax Return on Invested Capital, Excluding Cash and Investments, is a non-GAAP financial measure. After-tax return on invested capital, excluding cash and investments, represents our after-tax income from operations, divided by our average invested capital, excluding cash and investments, using beginning and ending balance sheet values. Management believes that reporting ROIC provides useful information to investors for evaluating the efficiency and effectiveness of our use of capital. ROIC, after-tax income from operations and average invested capital, excluding cash and investments, are not measures of financial performance under GAAP and should be considered in addition to, and not as replacements of or superior measures to, return on assets, net income, total assets or other financial measures reported in accordance with GAAP. See the supplementary table below for reconciliation of this non-GAAP financial measure.


Notes and Definitions


Discrete litigation expense accrual - During the second quarter of 2024, the Company increased its previously established $27.5 million accrual related to a now-concluded litigation matter by $61.5 million. During the first quarter of 2025, the Company reduced this previously established $89.0 million accrual by approximately $9 million, resulting in a total accrual for this now-concluded litigation matter of approximately $80 million as of March 31, 2025, which represented our best estimate at that time of the amount of the loss.


Now-concluded litigation matter - The Company was a defendant in a litigation matter involving an alleged breach of contract for underpayment of royalty payments made from 2004 through 2017 under an expired patent license agreement, and the trial court ruled in favor of the plaintiff in 2020. Following appeals and in light of the appellate court's April 3, 2025 decision, on April 17, 2025, the Company paid the judgment of approximately $80 million, and the plaintiff executed a satisfaction and release of judgment, which was filed with the trial court on the same date, concluding this matter. For further information, see the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025.




IDEXX Laboratories, Inc. and Subsidiaries






 






 






 






 








Condensed Consolidated Statement of Operations






 






 






 






 








Amounts in thousands except per share data (Unaudited)






 






 






 






 








 






 






 






 






Three Months Ended






 






Twelve Months Ended








 






 






 






 






December 31,






 






December 31,






 






December 31,






 






December 31,








 






 






 






 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Revenue:






 






Revenue






 






$






1,090,579






 






 






$






954,288






 






 






$






4,303,702






 






 






$






3,897,504






 








Expenses and Income:






 






Cost of revenue






 






 






432,465






 






 






 






383,628






 






 






 






1,644,123






 






 






 






1,518,577






 








 






 






Gross profit






 






 






658,114






 






 






 






570,660






 






 






 






2,659,579






 






 






 






2,378,927






 








 






 






Sales and marketing






 






 






167,060






 






 






 






150,108






 






 






 






643,547






 






 






 






588,507






 








 






 






General and administrative






 






 






108,616






 






 






 






101,137






 






 






 






404,794






 






 






 






442,291






 








 






 






Research and development






 






 






66,833






 






 






 






57,729






 






 






 






251,207






 






 






 






219,792






 








 






 






Total operating expenses






 






 






342,509






 






 






 






308,974






 






 






 






1,299,548






 






 






 






1,250,590






 








 






 






Income from operations






 






 






315,605






 






 






 






261,686






 






 






 






1,360,031






 






 






 






1,128,337






 








 






 






Interest expense, net






 






 






(8,623






)






 






 






(5,299






)






 






 






(35,842






)






 






 






(18,506






)








 






 






Income before provision for income taxes






 






 






306,982






 






 






 






256,387






 






 






 






1,324,189






 






 






 






1,109,831






 








 






 






Provision for income taxes






 






 






58,794






 






 






 






40,238






 






 






 






264,725






 






 






 






221,964






 








Net Income:






 






Net income attributable to stockholders






 






$






248,188






 






 






$






216,149






 






 






$






1,059,464






 






 






$






887,867






 








 






 






Earnings per share: Basic






 






$






3.11






 






 






$






2.64






 






 






$






13.17






 






 






$






10.77






 








 






 






Earnings per share: Diluted






 






$






3.08






 






 






$






2.62






 






 






$






13.08






 






 






$






10.67






 








 






 






Shares outstanding: Basic






 






 






79,898






 






 






 






81,846






 






 






 






80,427






 






 






 






82,467






 








 






 






Shares outstanding: Diluted






 






 






80,480






 






 






 






82,538






 






 






 






81,025






 






 






 






83,246






 









IDEXX Laboratories, Inc. and Subsidiaries






 






 






 






 








Selected Operating Information (Unaudited)






 






 






 






 








 






 






 






 






Three Months Ended






 






Twelve Months Ended








 






 






 






 






December 31,






 






December 31,






 






December 31,






 






December 31,








 






 






 






 






2025






 






2024






 






2025






 






2024








Operating Ratios






 






Gross profit






 






60.3






%






 






59.8






%






 






61.8






%






 






61.0






%








(as a percentage of revenue):






 






Sales, marketing, general and administrative expense






 






25.3






%






 






26.3






%






 






24.4






%






 






26.4






%








 






 






Research and development expense






 






6.1






%






 






6.0






%






 






5.8






%






 






5.6






%








 






 






Income from operations 1






 






28.9






%






 






27.4






%






 






31.6






%






 






29.0






%








 






 






 






 






 






 






 






 






 






 






 








1 Amounts presented may not recalculate due to rounding.









IDEXX Laboratories, Inc. and Subsidiaries








Segment Information








Amounts in thousands (Unaudited)








 






 






 






 






 






 






 








 






 






 






 






Three Months Ended






 






Three Months Ended








 






 






 






 






December 31,






 






Percent of






 






December 31,






 






Percent of








 






 






 






 






 






2025






 






 






Revenue






 






 






2024






 






 






Revenue








Revenue:






 






CAG






 






$






998,472






 






 






 






 






$






870,471






 






 






 








 






 






Water






 






 






50,530






 






 






 






 






 






45,153






 






 






 








 






 






LPD






 






 






37,485






 






 






 






 






 






34,557






 






 






 








 






 






Other






 






 






4,092






 






 






 






 






 






4,107






 






 






 








 






 






Total






 






$






1,090,579






 






 






 






 






$






954,288






 






 






 








 






 






 






 






 






 






 






 






 






 






 








Gross Profit:






 






CAG






 






$






604,293






 






 






60.5






%






 






$






519,412






 






 






59.7






%








 






 






Water






 






 






33,648






 






 






66.6






%






 






 






32,685






 






 






72.4






%








 






 






LPD






 






 






18,969






 






 






50.6






%






 






 






17,141






 






 






49.6






%








 






 






Other






 






 






1,204






 






 






29.4






%






 






 






1,422






 






 






34.6






%








 






 






Total






 






$






658,114






 






 






60.3






%






 






$






570,660






 






 






59.8






%








 






 






 






 






 






 






 






 






 






 






 








Income from Operations:






 






CAG






 






$






292,470






 






 






29.3






%






 






$






240,088






 






 






27.6






%








 






 






Water






 






 






21,394






 






 






42.3






%






 






 






20,991






 






 






46.5






%








 






 






LPD






 






 






3,138






 






 






8.4






%






 






 






3,379






 






 






9.8






%








 






 






Other






 






 






(1,397






)






 






(34.1






)%






 






 






(2,772






)






 






(67.5






)%








 






 






Total






 






$






315,605






 






 






28.9






%






 






$






261,686






 






 






27.4






%









 






 






 






 






Twelve Months Ended






 






Twelve Months Ended








 






 






 






 






December 31,






 






Percent of






 






December 31,






 






Percent of








 






 






 






 






 






2025






 






 






Revenue






 






 






2024






 






 






Revenue








Revenue:






 






CAG






 






$






3,953,285






 






 






 






 






$






3,574,044






 






 






 








 






 






Water






 






 






201,149






 






 






 






 






 






185,112






 






 






 








 






 






LPD






 






 






131,787






 






 






 






 






 






122,060






 






 






 








 






 






Other






 






 






17,481






 






 






 






 






 






16,288






 






 






 








 






 






Total






 






$






4,303,702






 






 






 






 






$






3,897,504






 






 






 








 






 






 






 






 






 






 






 






 






 






 








Gross Profit:






 






CAG






 






$






2,448,674






 






 






61.9






%






 






$






2,179,180






 






 






61.0






%








 






 






Water






 






 






139,289






 






 






69.2






%






 






 






130,011






 






 






70.2






%








 






 






LPD






 






 






64,208






 






 






48.7






%






 






 






62,560






 






 






51.3






%








 






 






Other






 






 






7,408






 






 






42.4






%






 






 






7,176






 






 






44.1






%








 






 






Total






 






$






2,659,579






 






 






61.8






%






 






$






2,378,927






 






 






61.0






%








 






 






 






 






 






 






 






 






 






 






 








Income from Operations:






 






CAG






 






$






1,264,573






 






 






32.0






%






 






$






1,038,416






 






 






29.1






%








 






 






Water






 






 






93,268






 






 






46.4






%






 






 






84,533






 






 






45.7






%








 






 






LPD






 






 






3,229






 






 






2.5






%






 






 






6,633






 






 






5.4






%








 






 






Other






 






 






(1,039






)






 






(5.9






)%






 






 






(1,245






)






 






(7.6






)%








 






 






Total






 






$






1,360,031






 






 






31.6






%






 






$






1,128,337






 






 






29.0






%









IDEXX Laboratories, Inc. and Subsidiaries








Revenues and Revenue Growth Analysis by Product and Service Categories and by Domestic and International Markets








Amounts in thousands (Unaudited)








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






 






Three Months Ended






 






 






 






 






 






 






 






 






 






 








Net Revenue






 






December 31,

2025






 






December 31,

2024






 






Dollar

Change






 






Reported

Revenue

Growth 1






 






Percentage

Change from

Currency






 






Percentage

Change from

Acquisitions






 






Organic

Revenue

Growth 1








CAG






 






$






998,472






 






$






870,471






 






$






128,001






 






 






14.7






%






 






1.9






%






 






—






 






12.8






%








United States






 






 






642,657






 






 






574,103






 






 






68,554






 






 






11.9






%






 






—






 






 






—






 






11.9






%








International






 






 






355,815






 






 






296,368






 






 






59,447






 






 






20.1






%






 






5.8






%






 






—






 






14.3






%








Water






 






$






50,530






 






$






45,153






 






$






5,377






 






 






11.9






%






 






2.4






%






 






—






 






9.5






%








United States






 






 






23,651






 






 






22,016






 






 






1,635






 






 






7.4






%






 






—






 






 






—






 






7.4






%








International






 






 






26,879






 






 






23,137






 






 






3,742






 






 






16.2






%






 






4.7






%






 






—






 






11.5






%








LPD






 






$






37,485






 






$






34,557






 






$






2,928






 






 






8.5






%






 






4.5






%






 






—






 






4.0






%








United States






 






 






7,037






 






 






6,410






 






 






627






 






 






9.8






%






 






—






 






 






—






 






9.8






%








International






 






 






30,448






 






 






28,147






 






 






2,301






 






 






8.2






%






 






5.4






%






 






—






 






2.7






%








Other






 






$






4,092






 






$






4,107






 






$






(15






)






 






(0.4






%)






 






—






 






 






—






 






(0.4






%)








Total Company






 






$






1,090,579






 






$






954,288






 






$






136,291






 






 






14.3






%






 






2.0






%






 






—






 






12.2






%








United States






 






 






675,015






 






 






603,961






 






 






71,054






 






 






11.8






%






 






—






 






 






—






 






11.8






%








International






 






 






415,564






 






 






350,327






 






 






65,237






 






 






18.6






%






 






5.6






%






 






—






 






13.0






%









 






 






Three Months Ended






 






 






 






 






 






 






 






 






 






 








Net CAG Revenue






 






December 31,

2025






 






December 31,

2024






 






Dollar

Change






 






Reported

Revenue

Growth 1






 






Percentage

Change from

Currency






 






Percentage

Change from

Acquisitions






 






Organic

Revenue

Growth 1








CAG Diagnostics recurring revenue:






 






$






849,664






 






$






757,451






 






$






92,213






 






 






12.2






%






 






1.9






%






 






—






 






10.2






%








IDEXX VetLab consumables






 






 






389,048






 






 






331,845






 






 






57,203






 






 






17.2






%






 






2.5






%






 






—






 






14.7






%








Rapid assay products






 






 






76,038






 






 






77,375






 






 






(1,337






)






 






(1.7






%)






 






0.8






%






 






—






 






(2.5






%)








Reference laboratory diagnostic and consulting services






 






 






349,248






 






 






316,027






 






 






33,221






 






 






10.5






%






 






1.6






%






 






—






 






8.9






%








CAG Diagnostics services and accessories






 






 






35,330






 






 






32,204






 






 






3,126






 






 






9.7






%






 






2.2






%






 






—






 






7.5






%








CAG Diagnostics capital – instruments






 






 






58,133






 






 






33,016






 






 






25,117






 






 






76.1






%






 






6.8






%






 






—






 






69.2






%








Veterinary software, services and diagnostic imaging systems:






 






 






90,675






 






 






80,004






 






 






10,671






 






 






13.3






%






 






0.3






%






 






—






 






13.0






%








Recurring revenue






 






 






70,603






 






 






62,898






 






 






7,705






 






 






12.2






%






 






0.4






%






 






—






 






11.9






%








Systems and hardware






 






 






20,072






 






 






17,106






 






 






2,966






 






 






17.3






%






 






0.1






%






 






—






 






17.2






%








Net CAG revenue






 






$






998,472






 






$






870,471






 






$






128,001






 






 






14.7






%






 






1.9






%






 






—






 






12.8






%








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 









 






 






Three Months Ended






 






 






 






 






 






 






 






 






 






 








 






 






December 31,

2025






 






December 31,

2024






 






Dollar

Change






 






Reported

Revenue

Growth 1






 






Percentage

Change from

Currency






 






Percentage

Change from

Acquisitions






 






Organic

Revenue

Growth 1








CAG Diagnostics recurring revenue:






 






$






849,664






 






$






757,451






 






$






92,213






 






12.2






%






 






1.9






%






 






—






 






10.2






%








United States






 






$






536,672






 






$






490,240






 






$






46,432






 






9.5






%






 






—






 






 






—






 






9.5






%








International






 






$






312,992






 






$






267,211






 






$






45,781






 






17.1






%






 






5.6






%






 






—






 






11.5






%








1 See Statements Regarding Non-GAAP Financial Measures, above. Amounts presented may not recalculate due to rounding.







 



IDEXX Laboratories, Inc. and Subsidiaries



Revenues and Revenue Growth Analysis by Product and Service Categories and by Domestic and International Markets








Amounts in thousands (Unaudited)








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






 






Twelve Months Ended






 






 






 






 






 






 






 






 






 






 








Net Revenue






 






December 31,

2025






 






December 31,

2024






 






Dollar

Change






 






Reported

Revenue

Growth 1






 






Percentage

Change from

Currency






 






Percentage

Change from

Acquisitions






 






Organic

Revenue

Growth 1








CAG






 






$






3,953,285






 






$






3,574,044






 






$






379,241






 






10.6






%






 






0.8






%






 






—






 






 






9.8






%








United States






 






 






2,619,461






 






 






2,409,152






 






 






210,309






 






8.7






%






 






—






 






 






0.1






%






 






8.7






%








International






 






 






1,333,824






 






 






1,164,892






 






 






168,932






 






14.5






%






 






2.5






%






 






—






 






 






12.0






%








Water






 






$






201,149






 






$






185,112






 






$






16,037






 






8.7






%






 






0.6






%






 






—






 






 






8.0






%








United States






 






 






101,314






 






 






95,347






 






 






5,967






 






6.3






%






 






—






 






 






—






 






 






6.3






%








International






 






 






99,835






 






 






89,765






 






 






10,070






 






11.2






%






 






1.3






%






 






—






 






 






9.9






%








LPD






 






$






131,787






 






$






122,060






 






$






9,727






 






8.0






%






 






1.8






%






 






—






 






 






6.1






%








United States






 






 






25,453






 






 






22,250






 






 






3,203






 






14.4






%






 






—






 






 






—






 






 






14.4






%








International






 






 






106,334






 






 






99,810






 






 






6,524






 






6.5






%






 






2.2






%






 






—






 






 






4.3






%








Other






 






$






17,481






 






$






16,288






 






$






1,193






 






7.3






%






 






—






 






 






—






 






 






7.3






%








Total Company






 






$






4,303,702






 






$






3,897,504






 






$






406,198






 






10.4






%






 






0.8






%






 






—






 






 






9.6






%








United States






 






 






2,752,785






 






 






2,533,174






 






 






219,611






 






8.7






%






 






—






 






 






0.1






%






 






8.6






%








International






 






 






1,550,917






 






 






1,364,330






 






 






186,587






 






13.7






%






 






2.3






%






 






—






 






 






11.3






%









 






 






Twelve Months Ended






 






 






 






 






 






 






 






 






 






 








Net CAG Revenue






 






December 31,

2025






 






December 31,

2024






 






Dollar

Change






 






Reported

Revenue

Growth 1






 






Percentage

Change from

Currency






 






Percentage

Change from

Acquisitions






 






Organic

Revenue

Growth 1








CAG Diagnostics recurring revenue:






 






$






3,407,199






 






$






3,129,492






 






$






277,707






 






 






8.9






%






 






0.8






%






 






—






 






 






8.1






%








IDEXX VetLab consumables






 






 






1,496,752






 






 






1,303,250






 






 






193,502






 






 






14.8






%






 






1.1






%






 






—






 






 






13.7






%








Rapid assay products






 






 






348,950






 






 






359,754






 






 






(10,804






)






 






(3.0






%)






 






0.3






%






 






—






 






 






(3.3






%)








Reference laboratory diagnostic and consulting services






 






 






1,424,073






 






 






1,336,121






 






 






87,952






 






 






6.6






%






 






0.7






%






 






—






 






 






5.9






%








CAG Diagnostics services and accessories






 






 






137,424






 






 






130,367






 






 






7,057






 






 






5.4






%






 






1.0






%






 






—






 






 






4.5






%








CAG Diagnostics capital – instruments






 






 






200,206






 






 






131,928






 






 






68,278






 






 






51.8






%






 






2.5






%






 






—






 






 






49.3






%








Veterinary software, services and diagnostic imaging systems






 






 






345,880






 






 






312,624






 






 






33,256






 






 






10.6






%






 






—






 






 






0.4






%






 






10.2






%








Recurring revenue






 






 






276,338






 






 






250,359






 






 






25,979






 






 






10.4






%






 






—






 






 






0.4






%






 






9.9






%








Systems and hardware






 






 






69,542






 






 






62,265






 






 






7,277






 






 






11.7






%






 






(0.1






%)






 






0.4






%






 






11.4






%








Net CAG revenue






 






$






3,953,285






 






$






3,574,044






 






$






379,241






 






 






10.6






%






 






0.8






%






 






—






 






 






9.8






%








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 









 






 






Twelve Months Ended






 






 






 






 






 






 






 






 






 






 








 






 






December 31,

2025






 






December 31,

2024






 






Dollar

Change






 






Reported

Revenue

Growth 1






 






Percentage

Change from

Currency






 






Percentage

Change from

Acquisitions






 






Organic

Revenue

Growth 1








CAG Diagnostics recurring revenue:






 






$






3,407,199






 






$






3,129,492






 






$






277,707






 






8.9






%






 






0.8






%






 






—






 






8.1






%








United States






 






$






2,214,609






 






$






2,080,277






 






$






134,332






 






6.5






%






 






—






 






 






—






 






6.5






%








International






 






$






1,192,590






 






$






1,049,215






 






$






143,375






 






13.7






%






 






2.5






%






 






—






 






11.2






%








1 See Statements Regarding Non-GAAP Financial Measures, above. Amounts presented may not recalculate due to rounding.








IDEXX Laboratories, Inc. and Subsidiaries



Condensed Consolidated Balance Sheet








Amounts in thousands (Unaudited)








 






 






 






 






December 31,






 






December 31,








 






 






 






 






2025






 






2024








Assets:






 






Current Assets:






 






 






 






 








 






 






Cash and cash equivalents






 






$






180,070






 






$






288,266








 






 






Accounts receivable, net






 






 






552,378






 






 






473,575








 






 






Inventories






 






 






377,756






 






 






381,877








 






 






Other current assets






 






 






303,623






 






 






256,179








 






 






Total current assets






 






 






1,413,827






 






 






1,399,897








 






 






Property and equipment, net






 






 






747,380






 






 






713,123








 






 






Other long-term assets, net






 






 






1,189,552






 






 






1,180,423








 






 






Total assets






 






$






3,350,759






 






$






3,293,443








Liabilities and Stockholders'






 






 






 






 






 






 








Equity:






 






Current Liabilities:






 






 






 






 








 






 






Accounts payable






 






$






110,408






 






$






114,211








 






 






Accrued liabilities






 






 






530,147






 






 






502,119








 






 






Credit facility






 






 






398,000






 






 






250,000








 






 






Current portion of long-term debt






 






 






74,995






 






 






167,787








 






 






Deferred revenue






 






 






35,264






 






 






33,799








 






 






Total current liabilities






 






 






1,148,814






 






 






1,067,916








 






 






Long-term debt, net of current portion






 






 






374,842






 






 






449,786








 






 






Other long-term liabilities, net






 






 






221,720






 






 






180,428








 






 






Total long-term liabilities






 






 






596,562






 






 






630,214








 






 






Total stockholders' equity






 






 






1,605,383






 






 






1,595,313








 






 






Total liabilities and stockholders' equity






 






$






3,350,759






 






$






3,293,443









IDEXX Laboratories, Inc. and Subsidiaries








Selected Balance Sheet Information (Unaudited)








 






 






 






 






December 31,

2025






 






September 30,

2025






 






June 30,

2025






 






March 31,

2025






 






December 31,

2024








Selected Balance Sheet Information:






 






Days sales outstanding 1






 






46.8






 






46.5






 






44.7






 






45.7






 






47.1








 






 






Inventory turns 2






 






1.6






 






1.5






 






1.5






 






1.3






 






1.3








 






 






 






 






 






 






 






 






 






 






 






 






 








1 Days sales outstanding represents the average of the accounts receivable balances at the beginning and end of each quarter divided by revenue for that quarter, the result of which is then multiplied by 91.25 days.








2 Inventory turns represent inventory-related cost of product revenue for the twelve months preceding each quarter-end divided by the average inventory balances at the beginning and end of each quarter.









IDEXX Laboratories, Inc. and Subsidiaries








Condensed Consolidated Statement of Cash Flows








Amounts in thousands (Unaudited)








 






 






 






 






Twelve Months Ended








 






 






 






 






December 31,






 






December 31,








 






 






 






 






 






2025






 






 






 






2024






 








Operating:






 






Cash Flows from Operating Activities:






 






 






 






 








 






 






Net income






 






$






1,059,464






 






 






$






887,867






 








 






 






Non-cash charges






 






 






349,855






 






 






 






174,372






 








 






 






Changes in assets and liabilities






 






 






(227,514






)






 






 






(133,238






)








 






 






Net cash provided by operating activities






 






 






1,181,805






 






 






 






929,001






 








Investing:






 






Cash Flows from Investing Activities:






 






 






 






 








 






 






Purchases of property and equipment






 






 






(124,676






)






 






 






(120,922






)








 






 






Acquisitions of businesses, intangibles, and equity investment, net of cash acquired






 






 






(14,306






)






 






 






(87,698






)








 






 






Proceeds from net investment hedges






 






 






2,743






 






 






 






1,558






 








 






 






Net cash used by investing activities






 






 






(136,239






)






 






 






(207,062






)








Financing:






 






Cash Flows from Financing Activities:






 






 






 






 








 






 






Borrowings on credit facilities, net






 






 






148,000






 






 






 






—






 








 






 






Payments of senior debt






 






 






(178,385






)






 






 






(75,000






)








 






 






Debt issuance costs






 






 






(3,738






)






 






 






—






 








 






 






Repurchases of common stock






 






 






(1,216,964






)






 






 






(837,034






)








 






 






Proceeds from exercises of stock options and employee stock purchase plans






 






 






93,362






 






 






 






44,492






 








 






 






Shares withheld for statutory tax withholding payments on restricted stock






 






 






(7,239






)






 






 






(10,531






)








 






 






Net cash used by financing activities






 






 






(1,164,964






)






 






 






(878,073






)








 






 






Net effect of changes in exchange rates on cash






 






 






11,202






 






 






 






(9,532






)








 






 






Net change in cash and cash equivalents






 






 






(108,196






)






 






 






(165,666






)








 






 






Cash and cash equivalents, beginning of period






 






 






288,266






 






 






 






453,932






 








 






 






Cash and cash equivalents, end of period






 






$






180,070






 






 






$






288,266






 









IDEXX Laboratories, Inc. and Subsidiaries








Free Cash Flow








Amounts in thousands (Unaudited)








 






 






 






 






Twelve Months Ended








 






 






 






 






December 31,






 






December 31,








 






 






 






 






 






2025






 






 






 






2024






 








Free Cash Flow:






 






Net cash provided by operating activities






 






$






1,181,805






 






 






$






929,001






 








 






 






Investing cash flows attributable to purchases of property and equipment






 






 






(124,676






)






 






 






(120,922






)








 






 






Free cash flow 1






 






$






1,057,129






 






 






$






808,079






 








 






 






 






 






 






 






 








1 See Statements Regarding Non-GAAP Financial Measures, above.









IDEXX Laboratories, Inc. and Subsidiaries






 






 






 








After-Tax Return on Invested Capital, Excluding Cash and Investments ("ROIC")






 






 






 








Amounts in thousands (Unaudited)






 






 






 








Numerator






For the Year Ended




December 31, 2025






 






 








Income from operations (as reported)






$






1,360,031






 






 






 








After-tax income from operations 1






$






1,088,141






 






 






 








 






 






 






 








Denominator






As of




December 31, 2025






 






As of




December 31, 2024








Total shareholders’ equity






$






1,605,383






 






 






$






1,595,313






 








Credit facility






 






398,000






 






 






 






250,000






 








Long-term debt, current portion






 






74,995






 






 






 






167,787






 








Long-term debt, net of current portion






 






374,842






 






 






 






449,786






 








Deferred income tax assets






 






(27,871






)






 






 






(125,630






)








Deferred income tax liabilities






 






31,865






 






 






 






11,312






 








Total invested capital






$






2,457,214






 






 






$






2,348,568






 








Less cash and cash equivalents






 






180,070






 






 






 






288,266






 








Total invested capital, excluding cash and investments






$






2,277,144






 






 






$






2,060,302






 








Average invested capital, excluding cash and investments 2






$






2,168,723






 






 






 








After-tax return on invested capital, excluding cash and investments






 






50.2






%






 






 








 






 






 






 








1 After-tax income from operations represents income from operations reduced by our reported effective tax rate.








2 Average invested capital, excluding cash and investments, represents the average of the amount of total invested capital, excluding cash and investments.









IDEXX Laboratories, Inc. and Subsidiaries






 






 






 






 








Common Stock Repurchases






 






 






 






 








Amounts in thousands except per share data (Unaudited)






 






 






 






 








 






 






Three Months Ended






 






Twelve Months Ended








 






 






December 31,






 






December 31,






 






December 31,






 






December 31,








 






 






2025






 






2024






 






2025






 






2024








Shares repurchased in the open market






 






 






356






 






 






564






 






 






2,411






 






 






1,741








Shares acquired through employee surrender for statutory tax withholding






 






 






—






 






 






—






 






 






16






 






 






19








Total shares repurchased






 






 






356






 






 






564






 






 






2,427






 






 






1,760








 






 






 






 






 






 






 






 






 








Cost of shares repurchased in the open market






 






$






242,018






 






$






248,685






 






$






1,220,331






 






$






848,901








Cost of shares for employee surrenders






 






 






59






 






 






45






 






 






7,238






 






 






10,531








Total cost of shares






 






$






242,077






 






$






248,730






 






$






1,227,569






 






$






859,432








 






 






 






 






 






 






 






 






 








Average cost per share – open market repurchases






 






$






680.28






 






$






441.37






 






$






506.07






 






$






487.66








Average cost per share – employee surrenders






 






$






728.97






 






$






423.35






 






$






455.86






 






$






556.90








Average cost per share – total






 






$






680.30






 






$






441.37






 






$






505.74






 






$






488.40







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260130438354/en/
John Ravis, Investor Relations

investorrelations@idexx.com


Original: IDEXX Laboratories Announces Fourth Quarter and Full Year 2025 Results