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Mar 31
IDEXX Q1 2025 Earnings Report
IDEXX reported solid Q1 results, with steady revenue growth and EPS gains.
Key Takeaways
IDEXX Laboratories delivered revenue of $998M and EPS of $2.96 in Q1 2025, supported by strong growth in VetLab consumables and software services, and boosted by the launch of a new cancer diagnostic panel.
Revenue reached $998 million, up from $964 million a year ago.
Net income increased to $242.7 million with EPS at $2.96.
IDEXX launched IDEXX Cancer Dx™, an early detection test for canine lymphoma.
VetLab consumables and software services showed strong double-digit growth.
IDEXX
IDEXX
IDEXX Revenue by Segment
IDEXX Revenue by Geographic Location
Revenue by Segment
VetLab Consumables Revenue
CapyFin.comRapid Assay Products Revenue
CapyFin.comReference Labs Revenue
CapyFin.comCAG Services/Accessories Revenue
CapyFin.comCAG Capital Instruments Revenue
CapyFin.comVet Software & Imaging Revenue
CapyFin.comWater Segment Revenue
CapyFin.comLivestock, Poultry, Dairy Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
IDEXX raised full-year revenue and EPS guidance for 2025, reflecting currency benefits and continued operational strength.
Positive Outlook
- Revenue guidance raised to $4.095B–$4.210B.
- EPS guidance increased to $11.93–$12.43.
- Foreign exchange now expected to positively impact results.
- CAG Diagnostics recurring revenue outlook improved.
- Maintained strong outlook for organic growth (6%–9%).
Challenges Ahead
- Operating margin guidance includes 180 bps impact from litigation adjustment.
- Flat performance in reference lab diagnostics.
- Rapid assay product revenue declined due to modality shifts.
- Continued exposure to international tariffs.
- Decreased free cash flow conversion compared to prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income