Strong Revenue Growth
IDEXX reported a 13% increase in revenue as reported, with 12% organic growth, driven by a 10% gain in CAG Diagnostics recurring revenues, including significant growth in both U.S. and international regions.
EPS and Operating Margin Increase
Earnings per share grew to $3.40, marking a 15% increase. The operating margin also improved by 120 basis points on a comparable basis.
CAG Diagnostics Instrument Revenue Surge
CAG instrument revenues saw a 71% organic growth, supported by over 1,750 IDEXX InVue Dx analyzers placed.
International CAG Diagnostics Growth
International CAG Diagnostics recurring revenue grew 14% organically, reflecting strong volume gains and sustained growth over the past 10 quarters.
Increased Full Year Financial Guidance
IDEXX increased its full year revenue outlook by $43 million at midpoint, expecting overall reported revenue growth of 9.6% to 10.3% and EPS of $12.81 to $13.01 per share.