Financial Data and Key Metrics Changes - IDEXX reported a 14% increase in revenue for Q4 2025, with 12% organic growth, driven by a 10% organic growth in CAG Diagnostics' recurring revenues [5][6] - Full-year operating margins reached 31.6%, an increase of 90 basis points on a comparable basis, with full-year EPS of $13.08, up 14% year-over-year [7][15] - Q4 EPS was $3.08 per share, up 17% year-over-year on a comparable basis, benefiting from strong operational results and a lower effective tax rate [15][16] Business Line Data and Key Metrics Changes - CAG Diagnostics' recurring revenue increased 10% organically in Q4, with 13% organic growth in CAG, 10% in water, and 4% in LPD [8][12] - IDEXX VetLab consumable revenues increased 15% organically in Q4, supported by a 12% increase in the global premium instrument install base [10][12] - Rapid Assay revenues declined 3% on an organic basis in Q4, constrained by pressure on U.S. wellness visits [11] Market Data and Key Metrics Changes - U.S. same-store clinical visit declines were approximately 1.7% in Q4 and 1.9% for the full year 2025, with wellness visits down 3.6% in Q4 [9][27] - International organic CAG Diagnostics recurring revenue growth was 12% in Q4, with strong growth in premium instrument install base [9][10] - The international regions maintained strong growth, highlighting significant global opportunities for diagnostic solutions [10] Company Strategy and Development Direction - IDEXX aims to deliver solid organic revenue growth and profit gains in 2026, with initial revenue guidance of $4.632 billion to $4.72 billion, reflecting a 7.6% to 9.6% increase [17][18] - The company is focused on expanding its commercial presence in key international regions and enhancing its diagnostic solutions through innovation [26][28] - IDEXX plans to maintain a strong balance sheet while investing in innovation and commercial capabilities to support long-term growth [16][17] Management's Comments on Operating Environment and Future Outlook - Management noted that the human-animal bond continues to deepen, with pet owners prioritizing high standards of care despite economic challenges [27][43] - The company expects to see continued growth in diagnostics frequency and utilization per visit, driven by innovations and customer retention [29][30] - Management acknowledged macroeconomic pressures affecting wellness visits but expressed optimism about growth in non-wellness visits as pandemic pets age [47][48] Other Important Information - IDEXX's free cash flow for 2025 was $1.1 billion, representing 100% of net income, with capital spending of $125 million [16] - The company allocated $1.2 billion for share repurchases, reducing diluted shares outstanding by 2.7% year-over-year [16] - IDEXX's software solutions saw strong performance, with double-digit growth in practice information management systems and pet owner engagement tools [40][41] Q&A Session Summary Question: Insights on vet visit dynamics and pricing - Management observed headwinds primarily in wellness visits due to macroeconomic pressures, while non-wellness visits showed growth [47][48] - There is some moderation in pricing from corporate practices, with a focus on driving demand and patient traffic [48] Question: Drivers of consumables growth - Growth in consumables is driven by an expanding installed base of premium instruments and increased utilization through innovation [55][56] - The inVue platform is expected to contribute to consumables growth as it gains traction in the market [56] Question: Reference lab growth and market share - IDEXX is experiencing strong global growth in reference labs due to investments in infrastructure and innovation, with approximately 18% of competitive submissions [60][61] Question: Innovation contributions and future outlook - The inVue Dx and Cancer Dx platforms are expected to have a leveraged impact across IDEXX's portfolio, enhancing overall economic value [65][66] - The direct revenue contribution from Cancer Dx is modest, but the long-term opportunity is significant, estimated at $1.1 billion [67][68]

Financial Data and Key Metrics Changes - IDEXX reported a 14% increase in revenue for Q4 2025, with 12% organic growth, driven by a 10% organic growth in CAG Diagnostics' recurring revenues [4][5] - Full-year EPS reached $13.08, up 14% year-over-year on a comparable basis, with Q4 EPS at $3.08, reflecting a 17% increase [5][12] - Operating margins for the full year were 31.6%, an increase of 90 basis points on a comparable basis [5][11] Business Line Data and Key Metrics Changes - CAG Diagnostics' recurring revenue grew 10% organically in Q4, with 13% organic growth in CAG and 10% in water [6][10] - IDEXX VetLab consumable revenues increased 15% organically in Q4, supported by a 12% increase in the global premium instrument install base [8][10] - Rapid Assay revenues declined 3% on an organic basis in Q4, while Global Reference Lab revenues expanded 9% organically [9][10] Market Data and Key Metrics Changes - U.S. CAG Diagnostics' recurring revenues increased 9% organically in Q4, with approximately 4% net price improvement and 5% volume growth [6][10] - International organic CAG Diagnostics recurring revenue growth was 12% in Q4, reflecting strong demand and new business expansion [7][10] - U.S. same-store clinical visit declines were approximately 1.7% in Q4 and 1.9% for the full year 2025, with wellness visits down 3.6% in Q4 [7][10] Company Strategy and Development Direction - IDEXX aims to deliver solid organic revenue growth and profit gains in 2026, with initial revenue guidance of $4.632 billion to $4.72 billion, reflecting a 7.6%-9.6% increase [14][15] - The company plans to expand its premium instrument install base, targeting 5,500 inVue Dx instruments in 2026 [16][19] - IDEXX is focused on enhancing its commercial capabilities in key international markets to drive diagnostics adoption and utilization [25][26] Management's Comments on Operating Environment and Future Outlook - Management noted that the human-animal bond continues to deepen, with pet owners prioritizing high standards of care despite economic challenges [24][38] - The company anticipates continued pressure on clinical visits but sees potential for growth in diagnostics frequency and utilization [24][41] - Management expressed confidence in the company's strategy and the opportunities ahead, emphasizing the importance of innovation and customer partnerships [38][39] Other Important Information - Full-year free cash flow was $1.1 billion for 2025, representing 100% of net income, with capital spending of $125 million [13] - The company plans for a consistent year-to-year tax rate, excluding share-based compensation effects, and expects a foreign exchange benefit of approximately $0.22 year-over-year [18][19] Q&A Session Summary Question: Insights on vet visit dynamics and pricing - Management observed headwinds primarily in wellness visits, attributing it to macroeconomic pressures, while non-wellness visits showed growth [41][43] - There is a recognition among corporate practices of the need to moderate pricing to drive demand and patient traffic [43][44] Question: Drivers of consumables growth - The growth in consumables is driven by an expanding installed base of premium instruments and increased utilization through innovation [49][51] - Management highlighted the importance of quality placements and the integration of new technologies in driving consumables growth [50][52] Question: Reference lab market share gains - Management indicated strong global performance in reference lab growth, supported by investments in infrastructure and innovation [54][56] - The company is seeing increased customer focus on patient care, leading to higher competitive submissions [56] Question: Innovation contributions to revenue - Management noted that while direct contributions from innovations like Cancer Dx are modest, the overall impact on the portfolio is significant [58][62] - The potential for expanding the Cancer Dx panel is estimated at $1.1 billion over time, indicating a large market opportunity [63]

Idexx Stock Topples Despite Its 'Impressive' Report | Investor's Business DailyBREAKING: [Futures Mixed; Disney, Oracle Are Early Movers]---Idexx stock slipped early Monday despite what one analyst called an "impressive" report after the pet diagnostics company reported earnings of $3.08 per share on $1.09 billion in fourth-quarter sales. Analysts polled by FactSet expected Idexx Laboratories (IDXX) to report $2.93 earnings per share and $1.07 billion in sales. During the year-ago period, Idexx came in with ...

分组1 - Idexx Laboratories reported quarterly earnings of $3.08 per share, exceeding the Zacks Consensus Estimate of $2.93 per share, and showing an increase from $2.62 per share a year ago, resulting in an earnings surprise of +5.17% [1] - The company achieved revenues of $1.09 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.86%, and up from $954.29 million in the previous year [2] - Idexx has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] 分组2 - The stock has underperformed the market, losing about 0.9% since the beginning of the year, while the S&P 500 has gained 1.4% [3] - The current consensus EPS estimate for the upcoming quarter is $3.43 on revenues of $1.1 billion, and for the current fiscal year, it is $14.45 on revenues of $4.66 billion [7] - The Medical - Instruments industry, to which Idexx belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

IDEXX Q4 & Full Year 2025 Earnings Highlights (NASDAQ: IDXX) | Revenue | | | | Operating | | Diluted | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | Profit | | | Earnings Per Share | | | | | Q4 | $1,091M | | | $316M | | $3.08 | | | | | Reported growth: | | +14% | 29% | of Revenue | | | | | | | Organic growth: | | +12% | | | | Reported growth: | | | +18% | | | | | YoY change in basis points: | | | | | | | | CAG Diagnostics Recurring | | | Reported | | +150 | Comparable growth: | ...

Animal diagnostics maker IDEXX Laboratories on Monday forecast 2026 revenue and profit above Wall Street estimates, betting that resilient demand at veterinary clinics and higher testing per visit wil... ...

While reporting financial results for the fourth quarter on Monday, pet healthcare provider IDEXX Laboratories, Inc. (IDXX) initiated its earnings and revenue guidance for the full-year 2026, in line with analysts' estimates.For fiscal 2026, the company now projects earnings in a range of $14.29 to $14.80 per share on revenues between $4.632 billion and $4.720 billion, with revenue growth of 7.6 to 9.6 percent and organic revenue growth of 7 to 9 percent.On average, analysts polled expect the company to re ...

Revenue Growth - Fourth quarter revenue reached $1,091 million, a 14% increase year-over-year, with 12% organic growth, driven by a 15% increase in Companion Animal Group (CAG) revenue[3] - Full year revenue totaled $4,304 million, marking a 10% increase as reported and organically, with CAG Diagnostics recurring revenue growing by 9% reported and 8% organic[5] - Revenue for Q4 2025 was $1,090,579,000, an increase of 14.3% compared to $954,288,000 in Q4 2024[46] - Total revenue for Q4 2025 reached $1,090,579, a 14.3% increase from $954,288 in Q4 2024[48] - Total revenue for the full year 2025 was $4,303,702, a 10.4% increase from $3,897,504 in 2024[48] - The company's organic revenue growth was 9.6%, with a notable 14.5% growth in international markets[50] Earnings and Profitability - Earnings per diluted share (EPS) for the fourth quarter were $3.08, reflecting an 18% increase as reported and 17% on a comparable basis, supported by a 150 basis point expansion in operating margin[4] - Expected EPS for 2026 is projected to be between $14.29 and $14.80, representing a growth of 9% to 13% as reported and 10% to 14% on a comparable basis[7] - The diluted earnings per share (EPS) for Q4 2025 was $3.08, an 18% increase compared to $2.62 in Q4 2024[35] - Comparable EPS, excluding certain adjustments, was $2.92 for Q4 2025, up 17% from $2.49 in Q4 2024[35] - The company anticipates a comparable EPS growth of 14% for the full year 2026, adjusted for share-based compensation and currency impacts[36] Operating Performance - Gross profit increased by 15% as reported, with a gross margin of 60.3%, reflecting a 50 basis point expansion[16] - Operating margin for the fourth quarter was 28.9%, an increase of 150 basis points compared to the prior year[17] - Operating profit for Q4 2025 was $315,605 thousand, reflecting a 21% increase year-over-year[31] - Income from operations for Q4 2025 was $315,605, a 20.6% increase from $261,686 in Q4 2024, with an operating margin of 28.9%[48] - The company reported a full-year income from operations of $1,360,031, up 20.5% from $1,128,337 in 2024[48] Future Projections - The company projects 2026 revenue guidance between $4,632 million and $4,720 million, indicating a growth of 7.6% to 9.6% reported and 7.0% to 9.0% organic[7] - CAG Diagnostics recurring revenue growth for 2026 is anticipated to be between 8.6% and 10.6% reported and 8.0% to 10.0% organic, supported by sustained execution drivers[18] - Projected full year 2026 operating margin is expected to expand by approximately 30 basis points due to favorable currency exchange rate changes[31] Cash Flow and Capital Expenditures - Free cash flow for the year ended December 31, 2025, was calculated by deducting approximately $125 million in capital expenditures from net cash provided by operating activities of approximately $1,182 million[41] - The company expects projected purchases of property and equipment for 2026 to be around $180 million, impacting future free cash flow[41] - Free cash flow for 2025 was $1,057,129, up from $808,079 in 2024[56] Balance Sheet and Equity - Total assets increased to $3,350,759 from $3,293,443, showing a solid balance sheet position[52] - The company’s total stockholders' equity rose to $1,605,383, up from $1,595,313 in 2024[52] - Long-term debt, net of current portion, decreased to $374,842 thousand as of December 31, 2025, from $449,786 thousand as of December 31, 2024[57] - Total shareholders' equity as of December 31, 2025, was $1,605,383 thousand, up from $1,595,313 thousand as of December 31, 2024[57] Research and Development - Research and development expenses for the full year 2025 were $251,207,000, up from $219,792,000 in 2024[46] Legal and Other Matters - The company concluded a litigation matter with a payment of approximately $80 million, impacting its financial position[45]

WESTBROOK, Maine--(BUSINESS WIRE)--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. ...

Group 1: Company Innovations - IDEXX Laboratories launched the ImageVue DR50 Plus, an advanced veterinary imaging system that offers high-definition, AI-powered diagnostics with up to 25% less radiation than its previous model and 60% less than other solutions [1] - The new imaging system is designed to improve safety and efficiency, reducing retakes, supporting new panel sizes, and integrating with IDEXX's Web PACS, telemedicine, and ezyVet software [1] Group 2: Leadership Transition - Michael Erickson will become President and CEO of IDEXX Laboratories effective May 12, 2026, succeeding Jonathan Mazelsky, who will transition to executive Chair of the Board and retire after the 2027 annual shareholder meeting [2] - Analysts at Stifel expect a seamless transition and believe Erickson will benefit from IDEXX's portfolio of recently launched products [3] Group 3: Market Position and Growth - IDEXX Laboratories is recognized as a global leader in animal health diagnostics and software, providing essential tools for veterinarians and diagnostic testing for livestock, poultry, and water quality [4] - Stifel analysts project a fourth-quarter 2025 Companion Animal Group Diagnostics recurring organic revenue growth estimate of 8.9% [3]