Core Insights - IDEXX Laboratories, Inc. (IDXX) reported Q4 2025 earnings per share (EPS) of $3.08, an 18% increase year over year, surpassing the Zacks Consensus Estimate by 5.17% [2] - Full-year 2025 earnings reached $13.08, a 22.6% rise from 2024, exceeding the Zacks Consensus Estimate by 1.2% [2] Revenue Performance - Quarterly revenues increased by 14% year over year to $1.09 billion, exceeding the Zacks Consensus Estimate by 1.86% [3] - The Companion Animal Group (CAG) grew by 15% as reported and 13% organically, while Water revenue grew by 12% as reported and 10% organically [3] - Full-year 2025 total revenues were $4.30 billion, a 10% improvement from 2024, driven by 9% reported and 8% organic growth in CAG Diagnostics recurring revenue, beating the Zacks Consensus Estimate by 0.5% [4] Segment Analysis - CAG revenues rose 14.7% year over year to $998.5 million [6] - Water segment revenues increased by 11.9% to $50.5 million [6] - Livestock, Poultry, and Dairy (LPD) revenues grew by 8.5% to $37.5 million [6] - Revenues from the Other segment decreased by 0.4% to $4.1 million [7] Margin and Expense Overview - Gross profit rose by 15.3% to $658.1 million, with gross margin expanding by 55 basis points to 60.4% despite a 12.7% rise in the cost of revenues [8] - Sales and marketing expenses increased by 11.3% to $167.1 million, while G&A expenses rose by 7.4% to $109 million, and R&D expenses jumped by 15.8% to $66.8 million [8] Financial Position - IDEXX ended Q4 with cash and cash equivalents of $180.1 million, down from $288.3 million at the end of 2024 [10] - Cumulative net cash from operating activities was $1.18 billion, compared to $929 million in the prior year [10] 2026 Guidance - IDEXX forecasts 2026 revenues between $4.63 billion and $4.72 billion, implying 7.6%-9.6% growth on a reported basis [11] - Full-year EPS is projected to be between $14.29 and $14.80, indicating growth of 9-13% [11] Strategic Outlook - The company highlighted a pivotal year in 2025 with the launch of IDEXX Cancer Dx for canine lymphoma and strong adoption of IDEXX inVue Dx, indicating a new phase of growth [13] - IDEXX enters 2026 with a robust innovation pipeline and strong momentum across its global business [13]

Core Insights - IDEXX Laboratories, Inc. (IDXX) reported Q2 2025 earnings per share (EPS) of $3.63, reflecting a year-over-year increase of 48.8% and exceeding the Zacks Consensus Estimate by 9.67% [1][8] - The company's quarterly revenues reached $1.11 billion, marking a 10.6% year-over-year growth, driven primarily by the Companion Animal Group (CAG) Diagnostics [2][8] - Following the earnings announcement, IDXX shares experienced a 9.2% increase in pre-market trading [3] Revenue Performance - Q2 revenues increased by 10.6% year over year, with organic growth of 9%, surpassing the Zacks Consensus Estimate by 4.01% [2][8] - CAG Diagnostics' revenues grew by 10.9% on a reported basis and 9.7% organically, contributing significantly to overall revenue growth [4] - The Water segment's revenues rose by 9.1% year over year, while Livestock, Poultry, and Dairy (LPD) revenues increased by 4.8% [4][5] Margin and Profitability - Gross profit increased by 12.2% to $694.7 million, with a gross margin expansion of 92 basis points to 62.6% despite a 7.9% rise in the cost of revenues [6] - Operating profit surged by 541.4% year over year to $373.1 million, with the operating margin expanding by 734 basis points to 33.6% [6] Financial Position - At the end of Q2, IDEXX had cash and cash equivalents of $164.6 million, slightly up from $164 million at the end of Q1 [7] - Total debt decreased to $423.7 million from $449.8 million at the end of the previous quarter [9] 2025 Guidance - IDEXX raised its 2025 revenue outlook to a range of $4.205 billion to $4.280 billion, indicating a growth of 7.7%-9.7% on a reported basis [10] - The company also updated its full-year EPS guidance to a range of $12.40 to $12.76, projecting a growth of 16%-20% [11] Strategic Insights - The company's innovation-driven strategy has led to solid global growth, with record quarterly instrument placements and strong recurring revenues from CAG Diagnostics [12] - The Water segment showed robust organic growth across major regions, while LPD growth was supported by effective commercial execution [13]