IDEXX Laboratories (NASDAQ:IDXX) shares jumped 7.2% on Monday after the animal health diagnostics leader reported third-quarter earnings and revenue that topped Wall Street expectations, supported by solid global demand for its advanced veterinary testing products.
The company posted adjusted earnings of $3.22 per share, above analyst estimates of $3.14, while revenue rose 13% year over year to $1.1 billion, surpassing the consensus forecast of $1.07 billion. Organic revenue growth reached 12% for the quarter.
The Companion Animal Group (CAG) division continued to drive performance with a 14% revenue increase, while CAG Diagnostics recurring revenue climbed 11% as reported and 10% organically. IDEXX highlighted especially strong demand for its IDEXX VetLab consumables, which delivered 18% reported revenue growth.
“IDEXX made exceptional progress on our innovation-driven growth strategy with strong execution and global customer adoption,” said Jay Mazelsky, President and Chief Executive Officer of IDEXX Laboratories. “The enthusiastic response — as reflected in our strong growth profile — highlights the trust our customers place in IDEXX.”
During the quarter, the company placed over 1,700 IDEXX inVue Dx analyzers, contributing to a 74% increase in CAG Diagnostics capital instrument revenue. Operating margin expanded by 100 basis points to 32.1%.
Following the strong results, IDEXX raised its full-year 2025 outlook, now forecasting revenue between $4.27 billion and $4.3 billion, representing 9.6% to 10.3% growth. The company also boosted its EPS guidance to $12.81–$13.01, exceeding the consensus estimate of $12.63.
The results underscore resilient growth in veterinary diagnostics, with IDEXX noting that pressures on clinical visits eased in the U.S. market during the quarter, further supporting continued momentum into year-end.