Mesa Laboratories(MLAB) - 2026 Q3 - Quarterly Results

Revenue Performance - Total revenues for 3Q26 were $65,126, an increase of 3.6% compared to 3Q25 and 7.2% sequentially versus 2Q26[7] - Organic revenue growth was 3.6%, with core organic revenue growth at 1.2%, and 5.7% when excluding Clinical Genomics (CG) China revenues[8] - Biopharmaceutical Development (BPD) revenues increased by 17.5%, driven by higher sales of Immunoassays and Peptides instruments[11] - Clinical Genomics (CG) revenues declined by 7.1%, with a significant contraction in China revenues of approximately $1.2 million, or 57% year-over-year[12] - Sterilization and Disinfection Control (SDC) revenues were $24,914, resulting in organic revenue growth of 6.0%[9] - Calibration Solutions (CS) revenues decreased by 2.5% year-over-year but increased by 3.7% sequentially[10] Income and Profitability - Operating income increased by 38.0% to $7,975, with net income rising 317.0% to $3,630, or $0.65 per diluted share[7] - Adjusted operating income (AOI) was 26.2% as a percentage of revenues, up from 23.5% in 3Q25[5] - GAAP operating income for Q3 2025 was $7,975,000, compared to $5,779,000 in Q3 2024, representing a year-over-year increase of 38.2%[24] - Non-GAAP adjusted operating income (AOI) for Q3 2025 was $17,072,000, up from $14,515,000 in Q3 2024, reflecting a growth of 17.7%[24] - AOI per share (basic) for Q3 2025 was $3.09, compared to $2.67 in Q3 2024, marking a 15.7% increase[24] - AOI excluding unusual items for Q3 2025 was $17,072,000, compared to $14,788,000 in Q3 2024, indicating a growth of 15.5%[24] Debt and Financial Position - The company repaid $8.7 million of debt, reducing the Total Net Leverage Ratio to 2.62[5] Future Outlook - The company expects continued positive momentum in 4Q26, driven by strong execution and stabilization in end markets[6] Currency Impact - Currency translation negatively impacted revenue growth by (2.4)% for Q3 2025 and (1.9)% for the nine months[25] Share Information - The weighted average common shares outstanding for Q3 2025 were 5,532,000 (basic) and 5,565,000 (diluted)[24] Depreciation Expense - The company reported a depreciation expense of $1,270,000 for Q3 2025, compared to $1,106,000 in Q3 2024[24] Unusual Items - Total impact of unusual items on AOI before tax for the nine months ended December 31, 2025, was $848,000[24]