Solid Start to 2025
IDEXX achieved a solid start to 2025 with overall revenues increasing 5% organically, supported by a 4.5% organic growth in CAG Diagnostic recurring revenues.
Strong International Growth
International CAG diagnostic recurring revenue organic growth was 8.5%, reflecting benefits from net price realization and strong volume gains.
EPS and Profit Growth
EPS delivery was $2.96 per share, delivering 5% growth as reported and 7% growth on a comparable basis.
Expansion in Premium Instrument Install Base
IDEXX achieved a 9% expansion of the premium instrument install base and placed 1,544 instruments in the U.S., an increase of 12% year-over-year.
Launch of IDEXX Cancer Dx
IDEXX launched IDEXX Cancer Dx for early detection of canine lymphoma, with over 1,000 practices ordering the test within a month of launch.
Continued Innovation with IDEXX inVue Dx
Strong pre-order momentum and successful controlled launch of IDEXX inVue Dx, with over 900 placements through the end of April, transitioning to full launch.
Strong Software Ecosystem Performance
Veterinary software and diagnostic imaging revenues increased 9%, driven by reoccurring revenues and momentum in cloud-based software placements.
Resilient Pet Population
Estimated pet population sustained in 2024 at similar levels to the prior year, representing approximately 3% CAGR versus 2019 baseline.