IDEXX LABORATORIES INC /DE (IDXX) Company Report

On November 12, 2025, IDEXX Laboratories and certain wholly-owned subsidiaries entered into Amendment No. 2 to their Fourth Amended and Restated Credit Agreement, modifying the existing five-year unsecured revolving credit facility and adding a three-year unsecured term loan.
The amendment extends the revolving credit facility’s maturity to five years from closing and establishes a new $250 million term loan maturing three years from the amendment date.
It adds IDEXX Holdings II GmbH as an additional borrower under the credit agreement.
Post-amendment, the Company retains a $1.0 billion revolving credit line, a $250 million term loan, and the ability to incur up to $250 million in incremental revolving commitments or term loans.

Nov 13, 2025, 9:07 PM

8-K

IDEXX reports Q3 2025 results

IDXX

Earnings

Guidance Update

Product Launch

IDEXX delivered 13% reported and 12% organic revenue growth in Q3 2025, with earnings per share of $3.40, up 15% on a comparable basis.
The company raised its full-year 2025 outlook to $4.27–4.30 billion in revenue (9.6%–10.3% reported growth) and EPS of $12.81–$13.01 (12%–14% comparable growth).
MUDX analyzer placements surged, with 1,753 units installed in Q3, driving 71% organic instrument revenue growth; IDEXX now expects ~6,000 placements in 2025.
Generated $371 million of free cash flow in Q3; repurchased $242 million of shares in the quarter ($985 million YTD) and maintained 0.7× gross leverage.

Nov 3, 2025, 1:30 PM

Transcript

IDEXX reports Q3 2025 results and updates guidance

IDXX

Earnings

Guidance Update

Share Buyback

Q3 revenue increased 13% reported and 12% organically, driving EPS of $3.40 (+15% comparable) and gross margin of 61.8% (+80 bps).
Raised full-year 2025 guidance to $4,270 m–$4,300 m in revenue (9.6–10.3% growth) and EPS to $12.81–$13.01, up $0.33 at midpoint.
Placed 1,753 MUDX analyzers in Q3 (total premium placements 5,665, +37% YoY) and now expect ~6,000 MUDX placements with over $65 m in instrument revenue for 2025.
Generated $371 m free cash flow in Q3 (94% net income conversion) and repurchased $242 m of shares in the quarter (YTD $985 m), with leverage at 0.7× gross and 0.5× net.

Nov 3, 2025, 1:30 PM

Transcript

IDEXX reports Q3 2025 results

IDXX

Earnings

Guidance Update

Share Buyback

Revenue grew 13% reported and 12% organic in Q3, driven by CAG Diagnostics' recurring revenue growth of 10% and 71% organic instrument revenue gains.
EPS of $3.40, up 15% on a comparable basis, and free cash flow of $371 million in Q3 with a 94% net income conversion rate.
Raised full-year guidance: revenue to $4,270–$4,300 million (9.6%–10.3% growth) and EPS to $12.81–$13.01, with organic growth of 8.8%–9.5%.
Premium instrument placements totaled 5,665 units (+37% YoY), including 1,753 MUDX analyzers; CancerDx adoption reached 5,000 practices.
Maintained strong balance sheet: leverage at 0.7× gross, 0.5× net; repurchased $242 million of shares in Q3; free cash flow conversion guided to 95%–100%.

Nov 3, 2025, 1:30 PM

Transcript

IDEXX Laboratories reports Q3 2025 results

IDXX

Earnings

Guidance Update

Revenue of $1,105 million, up 13% reported (12% organic), led by 14% growth in Companion Animal Group and 17% in LPD.
Diluted EPS of $3.40, a 21% increase reported (15% comparable), with operating margin up 100 bps reported (120 bps comparable).
Full-year 2025 revenue guidance raised to $4,270 m–$4,300 m (9.6%–10.3% reported growth; 8.8%–9.5% organic).
Full-year 2025 EPS outlook increased to $12.81–$13.01 (20%–22% reported growth; 12%–14% comparable).

Nov 3, 2025, 11:34 AM

8-K

IDEXX announces Q3 2025 results

IDXX

Earnings

Guidance Update

Revenue Acceleration/Inflection

Revenue of $1,105 M, up 13% reported and 12% organic in Q3 2025
EPS of $3.40, up 21% reported and 15% on a comparable basis, with 100 bps operating margin expansion
CAG Diagnostics recurring revenue grew 11% reported and 10% organic; LPD sales rose 17%, Water sales up 8%
Raises 2025 guidance, targeting $4,270–4,300 M revenue (9.6–10.3% growth) and $12.81–13.01 EPS

Nov 3, 2025, 11:30 AM

Press Release

IDEXX Laboratories reports Q3 2025 results

IDXX

Earnings

Guidance Update

Revenue Acceleration/Inflection

IDEXX delivered 13.3% revenue growth to $1.105 billion and EPS of $3.40, beating the $3.14 estimate.
Companion Animal Group revenue rose 14%, supported by higher diagnostic frequency and new launches like IDEXX Cancer Dx™ and Catalyst specialty tests.
The Livestock, Poultry and Dairy segment achieved 17% reported (14% organic) revenue growth in the quarter.
Full-year 2025 guidance was raised to $4.27–$4.30 billion in revenue and $12.81–$13.01 in EPS.
Multiple analysts, including Stifel, Morgan Stanley and JPMorgan, have upgraded ratings and increased price targets on confidence in IDEXX’s growth outlook.

Nov 3, 2025, 6:10 AM

Morningstar

IDEXX Labs Special Call on Capital Allocation and Innovation

IDXX

Share Buyback

Product Launch

New Projects/Investments

The company reiterated its consistent share repurchase strategy, targeting approximately $1.5 billion in buybacks for 2025 with a 2-3% diluted share count reduction, maintaining a stable capital structure ( ).
Executives emphasized a strong focus on recurring diagnostic revenue growth driven by innovations such as the launch of inVue Dx and the introduction of Cancer Dx, which are expected to enhance clinical adoption and expand service offerings ( , ).
The call also highlighted strategic capital allocation toward software investments and acquisitions like ezyVet and GreenLine to support automation and digitization initiatives ( ).

May 29, 2025, 8:15 AM

IDEXX Laboratories Q1 2025 Earnings, Guidance & Innovation Update

IDXX

Earnings

Guidance Update

Product Launch

Updated full‑year guidance now calls for reported revenues of $4,095–$4,210M, organic growth of 6–9%, operating margins of 31.1–31.6%, and full‑year EPS of $11.93–$12.43, factoring in favorable foreign exchange impacts and litigation adjustments .
In Q1 2025, the company delivered a solid performance with organic revenue up 5% and EPS of $2.96 (4% as reported and a 7% comparable increase), driven by strong recurring revenue in key segments .
The innovation portfolio expanded with the North American launch of IDEXX Cancer Dx and the transition of inVue Dx from controlled rollout to broad availability, receiving orders from over 1,000 unique customers .
Strong performance in key segments, including the Companion Animal Group and Water, further underpinned the Q1 results .

May 1, 2025, 12:31 PM

Transcript 8-K

Earnings Transcripts

Quarterly earnings call transcripts for IDEXX LABORATORIES INC /DE.

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