IDEXX Laboratories, Inc. (IDXX) recently expanded its Fecal Dx antigen testing platform with the addition of Cystoisospora —  a common intestinal parasite that is the source of diarrhea, weight loss and dehydration — primarily in young dogs and cats. Fecal Dx antigen testing with Cystoisospora will be offered at IDEXX Reference Laboratories in March in North America and globally in third-quarter 2024.The recent development will bolster IDEXX’s Livestock, Poultry and Dairy (LPD) business.More on Fecal Antige ...

Fecal Dx antigen testing will soon detect the most common intestinal parasites earlier, uncovering more infectionsWESTBROOK, Maine, Jan. 12, 2024 /PRNewswire/ -- IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, announced the expansion of its Fecal Dx® antigen testing platform with the addition of Cystoisospora, a common intestinal parasite that causes diarrhea, weight loss, and dehydration, primarily in young dogs and cats. IDEXX's Fecal Dx antigen testing offers earlie ...

AI-powered, load-and-go platform has potential to radically shift how veterinarians process, diagnose, and act on cytology and blood morphology casesThe global launch of the IDEXX inVue Dx analyzer will begin in late 2024WESTBROOK, Maine, Jan. 12, 2024 /PRNewswire/ -- IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, announces the launch of the IDEXX inVue Dx™ Cellular Analyzer, a first-of-its-kind slide-free cellular analyzer to detect the most common cytologic changes ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. COMMISSION FILE NUMBER: 000-19271 IDEXX LABORATORIES, INC. (Exact name of registrant as specified in its charter) Dela ...

Financial Data and Key Metrics Changes - IDEXX achieved a 10% organic revenue growth in Q2 2023, with CAG diagnostic recurring revenues increasing by 12% [58][71] - Operating expenses decreased by 17% year-on-year, contributing to a 71% increase in EPS to $2.67 per share [6][58] - Gross profit increased by 11% in Q2, with gross margins at 60.7%, up 160 basis points on a comparable basis [62][71] Business Line Data and Key Metrics Changes - Veterinary software and diagnostic imaging revenues grew by 13% organically, supported by high levels of recurring software growth [106] - CAG instrument revenues were down 6% organically, influenced by high-priority comparisons and program pricing effects [3] - Water revenue increased by 9% organically, benefiting from net price improvements and the integration of the TectaPDS acquisition [5] Market Data and Key Metrics Changes - U.S. revenues exceeded $1 billion in the first half of 2023, reflecting strong execution across all regions [9] - CAG diagnostic recurring revenue growth in the U.S. was 12%, while international growth was 10% [59][60] - IDEXX experienced strong growth in premium instrument placements, with a 15% increase globally [67][74] Company Strategy and Development Direction - The company is focused on enhancing diagnostic solutions and expanding its commercial reach to drive long-term growth [67][68] - IDEXX plans to maintain its operational outlook for Q3, expecting organic revenue growth at the lower end of its full-year guidance range [8][108] - The company is strategically expanding its U.S. customer-facing organization to capitalize on attractive opportunities [112] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth prospects in the U.S. and internationally, despite near-term macroeconomic challenges [19][20] - The company anticipates a normalization of clinical visit trends in the second half of 2023, supported by strong underlying demand [117][118] - Management highlighted the importance of maintaining high customer retention levels and increasing diagnostic frequency [73][118] Other Important Information - IDEXX will host its annual Investor Day on August 10, 2023, to provide updates on strategy and growth potential [13] - The company expects foreign exchange impacts to reduce EPS by approximately $0.21 per share for the full year [109] Q&A Session Summary Question: Trends in clinical visits in the U.S. - Management noted that clinical visit trends were consistent throughout Q2, with expectations for improvement in the second half of 2023 [117][118] Question: Competitive dynamics between corporate and independent practices - Management indicated that both types of practices are increasingly interested in IDEXX's solutions, with corporate practices focusing on growth and standardization [16] Question: Impact of weather on international markets - Management acknowledged that extreme weather events could affect pet owner behavior and clinic visits, particularly in Europe [32] Question: Pricing strategy for 2024 - Management reiterated a consistent outlook for net price improvement in the second half of 2023 but did not provide specific plans for 2024 [90][121] Question: Differences in clinical visit growth between corporate and independent clinics - Management observed similar growth profiles for both types of clinics, with a focus on preventive care driving engagement [92][125]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. COMMISSION FILE NUMBER: 000-19271 IDEXX LABORATORIES, INC. (Exact name of registrant as specified in its charter) Delaware ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. COMMISSION FILE NUMBER: 000-19271 IDEXX LABORATORIES, INC. (Exact name of registrant as specified in its charter) Delaware ...

Business Segments - IDEXX operates through three primary business segments: Companion Animal Group, Water Quality Products, and Livestock, Poultry, and Dairy[16]. - The Companion Animal Group provides diagnostic solutions, including in-clinic and reference laboratory services, with a focus on integrated diagnostic information management through technologies like VetConnect PLUS[19][18]. - Livestock and poultry diagnostic products include tests for Bovine Viral Diarrhea Virus (BVDV) and Porcine Reproductive and Respiratory Syndrome (PRRS), aimed at improving producer efficiency and health management[44]. - Dairy products utilize the SNAP test platform to detect antibiotic drug residues in milk, with primary products including SNAP Beta-Lactam ST and SNAPduo Beta-Tetra ST[45]. - The company’s water testing products have received EPA approval for various regulatory programs, ensuring compliance with extensive regulatory processes[71]. Research and Development - Research and development expenses for the year ended December 31, 2022, were $254.8 million, representing 7.6% of consolidated revenue, compared to $161.0 million (5.0%) in 2021 and $141.2 million (5.2%) in 2020[53]. - The company maintains active research and development programs across all business segments, focusing on new product development and entry into new business areas[53]. - The company invests significantly in R&D to enhance existing products and develop new offerings, but there is no assurance of successful outcomes[116]. Regulatory Compliance - The company is subject to various U.S. and foreign regulatory authorities, including the FDA and EPA, impacting product development and marketing[79]. - Regulatory approvals for products are required in various jurisdictions, and delays in obtaining these approvals could negatively impact growth and profitability[108]. - Compliance with complex legal and regulatory requirements may lead to significant costs and operational challenges[114]. - The company maintains an active regulatory program to secure approvals in various countries, primarily in Europe, to support its water testing products[209]. Market Competition - The company competes with major players in the veterinary diagnostic market, including Antech Diagnostics, Zoetis Inc., and Heska Corporation, focusing on product quality and diagnostic accuracy[66]. - Increased competition in the veterinary diagnostic sector may negatively affect the company's operating results, especially with new entrants and consolidation among competitors[121]. - Competition may negatively impact sales and profitability due to new entrants and innovative products, potentially leading to obsolescence of existing offerings[122]. Financial Performance - Recurring diagnostic revenue accounted for approximately 79% of consolidated revenue for the year ended December 31, 2022[196]. - Revenues from IDEXX VetLab consumables and SNAP rapid assay test kits are considered recurring and have significantly higher gross margins than instrument sales[192]. - Approximately 35% of the company's overall revenue for the year ended December 31, 2022, was attributable to international sales, with 32%, 86%, and 51% of CAG, LPD, and Water revenues coming from outside the U.S. respectively[138]. Employee and Workforce Diversity - As of December 31, 2022, the company had approximately 10,780 regular full-time and part-time employees, with underrepresented minorities representing 23.7% of U.S. employees[82]. - Women represented 58% of the global employee population as of December 31, 2022, with 49.2% of global people managers identifying as women[84]. - The overall voluntary employee turnover rate was 13.3% in 2022, with managerial employee turnover at 6.6%[91]. - The company emphasizes the importance of diversity, equity, and inclusion (DEI) in its workforce to drive innovation and better serve its global customer base[81]. Supply Chain and Manufacturing - The company relies on third-party suppliers for components and raw materials, which could disrupt supply chains and negatively impact sales and profitability[101]. - The company purchases many products from sole or single sources, increasing vulnerability to supply disruptions and potential cost increases[104]. - The company’s manufacturing and distribution facilities are certified to ISO 9001 quality standards, ensuring compliance with international manufacturing standards[63]. Strategic Initiatives - The company aims to maintain premium pricing for its differentiated products and services, despite competition promoting lower-priced offerings[98]. - The company is focused on expanding its companion animal diagnostic sales and marketing organizations in both U.S. and international regions[98]. - The company is constructing a new facility in Scarborough, Maine, expected to be completed in 2023, to support growth in its Water and LPD lines of business[173]. Risks and Challenges - Long-term disruptions in supply chains could lead to permanent loss of customers, reducing recurring revenues and long-term profitability[106]. - Public health issues, including pandemics, could adversely affect operations and demand for products and services, leading to financial impacts[130]. - Cybersecurity threats pose risks to information systems, which could lead to operational disruptions and financial losses if breaches occur[132]. - The ongoing geopolitical tensions, particularly the war between Russia and Ukraine, could negatively impact international sales and operations[138]. Product Development and Innovation - The company differentiates its products based on time-to-result, ease-of-use, and superior customer service[195]. - The water testing business strategy focuses on developing products for microbial contamination detection, with growth dependent on increasing international sales and enhancing the product line[209]. - The livestock testing segment offers differentiated tests for disease management, including the Alertys Ruminant Pregnancy Test, which detects pregnancy 28 days post-breeding[210]. - The dairy testing strategy involves developing antibiotic residue and contaminant testing products that meet regulatory requirements, leveraging the SNAP platform for production[212].

IDEXX Laboratories, Inc. (NASDAQ:IDXX) Q4 2022 Results Conference Call February 6, 2023 8:30 AM ET Company Participants Jay Mazelsky - President and Chief Executive Officer Brian McKeon - Chief Financial Officer John Ravis - Vice President, Investor Relations Conference Call Participants Nathan Rich - Goldman Sachs Chris Schott - JPMorgan Erin Wright - Morgan Stanley Michael Ryskin - Bank of America Jon Block - Stifel Ryan Daniels - William Blair Operator Good morning, and welcome to the IDEXX Laboratories ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) One IDEXX Drive Westbrook Maine 04092 (Address of principal executive offices) (ZIP Code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 ...