IDEXX Laboratories (NASDAQ:IDXX) reported second-quarter earnings that surpassed analyst expectations on Monday, boosted by strong instrument placements and solid growth in recurring diagnostic revenue. Following the announcement, the company’s shares rose 3.63% in pre-market trading.
The pet healthcare innovator posted adjusted earnings of $3.63 per share, beating the consensus estimate of $3.29. Revenue increased 11% year-over-year to $1.11 billion, exceeding the analyst forecast of $1.06 billion. Organic revenue growth was 9%, supported by a 7% organic rise in Companion Animal Group (CAG) Diagnostics recurring revenue.
IDEXX recorded a quarterly high in instrument placements, including nearly 2,400 placements of its IDEXX inVue Dx system, highlighting strong adoption of its slide-free technology. The company’s IDEXX VetLab consumables showed 15% reported revenue growth and 14% organic growth, driven by increased testing utilization across global regions.
Reflecting the strong results, IDEXX raised its full-year 2025 guidance, now projecting revenue between $4.205 billion and $4.28 billion, up from the previous range of $4.095 billion to $4.21 billion and above analyst consensus of $4.149 billion. The company also lifted its EPS outlook to a range of $12.40 to $12.76, compared to prior guidance of $11.93 to $12.43 and analyst expectations of $12.21.
Operating margin improved by 130 basis points on a comparable basis to 33.6%, supported by robust growth in high-margin consumables revenue and enhanced reference lab productivity.
International markets performed particularly well, with CAG Diagnostics recurring revenue growing 15% as reported and 11% organically, compared to 6% growth in the U.S.
IDEXX Laboratories stock price
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