Mesa Laboratories(MLAB) - 2026 Q2 - Quarterly Results

Revenue Performance - Total revenues for 2Q26 were $60,737, an increase of 5.0% compared to 2Q25[9] - Biopharmaceutical Development (BPD) revenues grew 17.3% to $13,920, driven by higher sales of Peptides instruments[12] - Clinical Genomics (CG) revenues declined 3.1% to $11,140, with a significant 58% decrease in China[13] - Calibration Solutions (CS) revenues increased 10.7% to $13,570, supported by strong commercial execution[11] - Total revenues growth for the three months ended September 30, 2025, was 5.0% compared to the same period in 2024[26] - Organic revenues growth (non-GAAP) for the six months ended September 30, 2025, was 3.7%[26] - Currency translation impact on organic revenues growth was (1.3)% for the three months ended September 30, 2025[26] Profitability - Non-GAAP core organic revenue growth was 3.7%, with operating income increasing 34.7% to $4,724[8] - Profitability, measured by adjusted operating income (AOI) excluding unusual items, was 25.1% of revenues, up from 24.8% in 2Q25[5] - Non-GAAP adjusted operating income (AOI) for the three months ended September 30, 2025, was $14,385,000, an increase from $13,413,000 in 2024[25] - AOI per share - basic (non-GAAP) for the three months ended September 30, 2025, was $2.61, up from $2.48 in 2024[25] - AOI excluding unusual items (non-GAAP) for the three months ended September 30, 2025, was $15,233,000, compared to $14,352,000 in 2024[25] - The company reported a GAAP operating income of $4,724,000 for the three months ended September 30, 2025, compared to $3,508,000 in 2024[25] Cost Management - The company reduced annualized costs by $3.2 million, including $2.1 million in Clinical Genomics, to align with market conditions[5] - The company plans to reinvest approximately $0.9 million of cost savings into Sterilization and Disinfection Control (SDC) for long-term growth[5] Financial Position - The total net leverage ratio was 3.02 as of September 30, 2025[9] - Total current assets decreased to $97,433,000 as of September 30, 2025, from $102,685,000 on March 31, 2025[24] - Stockholders' equity increased to $178,468,000 as of September 30, 2025, compared to $159,830,000 on March 31, 2025[24] - Total liabilities decreased to $251,883,000 as of September 30, 2025, from $273,518,000 on March 31, 2025[24] Future Outlook - Future revenue growth is expected to continue in 3Q26, despite macroeconomic uncertainties[4]