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Sep 30
IDEXX Q3 2025 Earnings Report
IDEXX delivered strong Q3 results with double-digit growth in revenue and earnings.
Key Takeaways
IDEXX Laboratories posted a robust Q3 2025, achieving double-digit growth in revenue, earnings, and operating income, driven by strong performance in CAG Diagnostics and significant placements of inVue Dx instruments.
Revenue reached $1.105 billion, driven by 13% reported growth.
EPS was $3.40, with adjusted EPS at $3.22.
Net income rose to $274.6 million.
Strong demand for IDEXX inVue Dx and VetLab consumables supported performance.
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 & consulting Revenue
CapyFin.comDiagnostics services & accessories Revenue
CapyFin.comCapital 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 its full-year 2025 revenue and EPS guidance, driven by strong recurring revenue and instrument placement performance.
Positive Outlook
- 2025 revenue guidance raised to $4.27B–$4.30B.
- Expected organic revenue growth of 8.8%–9.5%.
- CAG Diagnostics recurring revenue expected to grow 7.5%–8.2% organically.
- EPS guidance raised to $12.81–$13.01.
- Operating margin outlook increased to 31.6%–31.8%.
Challenges Ahead
- Rapid assay product sales continued to decline.
- Impact of recent U.S. tax law changes added $0.09/share in tax expense.
- Free cash flow conversion slightly impacted by higher capital expenditures.
- Higher R&D and employee incentive costs increased operating expenses.
- Foreign exchange had a negative impact on operating margin growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income