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IDEXX Laboratories
IDEXX Laboratories (IDXX) investor relations material
IDEXX Laboratories Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary2 Feb, 2026
Executive summary
Q4 2025 revenue grew 14% as reported and 12% organically, driven by strong CAG Diagnostics recurring revenue and record premium instrument placements.
Full-year 2025 revenue reached $4,304 million, up 10% year-over-year, with EPS of $13.08, a 23% increase as reported.
Expanded global commercial presence and launched key innovations, including inVue Dx and Cancer Dx, supporting recurring revenue and high customer retention.
Financial highlights
Q4 revenue: $1,091 million, up 14% reported and 12% organic; CAG revenue up 15% reported and 13% organic.
Q4 EPS: $3.08, up 18% year-over-year; full-year EPS: $13.08, up 23%.
Q4 operating profit was $316 million (29% of revenue); full-year operating margin: 31.6%.
Free cash flow for 2025 was $1.1 billion, 100% of net income; $1.2 billion allocated to share repurchases.
Gross margin for 2025 was 61.8%, up 80 basis points year-over-year.
Outlook and guidance
2026 revenue guidance: $4,632–$4,720 million, up 7.6%–9.6% reported, 7%–9% organic.
2026 EPS outlook: $14.29–$14.80, up 9%–13% reported and 10%–14% comparable.
Operating margin guidance for 2026: 32.0%–32.5%, with 30–90 basis points improvement.
CAG Diagnostics recurring revenue expected to grow 8%–10% organically in 2026.
Free cash flow conversion expected at 85%–95% of net income; $180 million in capital spending planned.
How does innovation drive broader portfolio growth
Impact of aging pets on 2026 visit trends
How to offset 2026 CAG instrument revenue decline
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Record Q2 revenue, $50.2M net income, HomeBuddy acquisition, and AI drive growth. - 6 FebOPGN
Shareholders will vote on seven key proposals, including a new equity plan and company name change. - 6 FebCDP
2025 FFO/share up 5.8% with strong leasing; 2026 outlook positive amid record defense spending. - 6 FebVTR
2025 saw double-digit SHOP NOI and FFO growth, a raised dividend, and $2.5B in investments. - 6 FebREG
2025 delivered record NOI and FFO growth, with 2026 guidance projecting further gains. - 6 FebMNTS
All stock issuance proposals passed except the share increase, which was not approved. - 6 FebCPT
2025 beat guidance; 2026 sees lower FFO, Sun Belt focus, and major asset sales with share repurchases. - 6 FebKOG
Record growth, robust backlog, and a NOK 5.70 dividend proposal drive future expansion. - 6 FebTSBK
Net income rose 19.8% to $8.22M, with higher margins, strong capital, and a dividend increase.
Next IDEXX Laboratories earnings date
Q1 202630 Apr, 2026
IDEXX Laboratories
Next IDEXX Laboratories earnings date
Q1 202630 Apr, 2026
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Frequently asked questions
IDEXX Laboratories, Inc. operates in four segments: Companion Animal Group, Water Quality Products, Livestock, Poultry and Dairy and Other. The CAG segment offers products and services primarily to veterinarians for the detection, diagnosis, treatment, monitoring and prevention of diseases and other conditions in dogs, cats, horses and other companion animals. The WQP segment offers on-site instruments, consumables, disinfectants, water quality testing services and related plate count products for the detection of total coliforms and Escherichia coli in drinking water.
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