10-QPeriod: Q2 FY2026

IDEXX LABORATORIES INC /DE Quarterly Report for Q2 Ended Jun 30, 2026

Filed August 4, 2026For Securities:IDXX

Summary

IDEXX Laboratories, Inc. (IDXX) reported strong financial performance for the six months ended June 30, 2026, demonstrating robust revenue growth and improved profitability. Total revenue increased by 11.8% to $2.36 billion, driven by the Companion Animal Group (CAG) segment, which saw an 11.8% increase in revenue to $2.17 billion. The company's gross profit margin expanded by 120 basis points to 63.7%, reflecting increased volumes, higher realized prices, and operational efficiencies, partially offset by inflationary pressures. Net income rose significantly by 14.9% to $616.9 million, with diluted earnings per share increasing to $7.74. The company maintained a strong liquidity position, with $196.9 million in cash and cash equivalents and $729.2 million in available borrowing capacity under its credit facility. IDEXX continues to focus on strategic investments in growth areas and shareholder returns, evidenced by continued share repurchases. The company's financial outlook remains positive, with continued growth expected across its key segments.

Key Highlights

  • 1Total revenue for the first six months of 2026 increased by 11.8% to $2.36 billion, compared to $2.11 billion in the prior year period.
  • 2The Companion Animal Group (CAG) segment remains the primary growth driver, with revenues up 11.8% to $2.17 billion for the first six months of 2026.
  • 3Gross profit margin improved to 63.7% for the first six months of 2026, up from 62.5% in the prior year period, indicating enhanced operational efficiency and pricing power.
  • 4Net income saw a substantial increase of 14.9% to $616.9 million for the first six months of 2026, translating to diluted EPS of $7.74.
  • 5Operating cash flow generation was strong, with $613.4 million provided by operating activities for the first six months of 2026, a significant increase from $423.7 million in the prior year.
  • 6The company maintained a healthy liquidity position with $196.9 million in cash and cash equivalents and $729.2 million in available credit facility capacity as of June 30, 2026.
  • 7IDEXX repurchased $703.7 million of its common stock during the first six months of 2026, demonstrating a commitment to returning capital to shareholders.

Frequently Asked Questions

IDEXX reported an 11.8% increase in total revenue for the six months ended June 30, 2026, reaching $2.36 billion, up from $2.11 billion in the same period of 2025. This growth was primarily driven by its Companion Animal Group (CAG) segment.

Profitability has improved significantly. Gross profit margin increased to 63.7% for the first six months of 2026 from 62.5% in the prior year. Net income rose by 14.9% to $616.9 million, and diluted earnings per share were $7.74.

IDEXX maintains a strong financial position. As of June 30, 2026, the company had $196.9 million in cash and cash equivalents and $729.2 million in available borrowing capacity under its credit facility. Net cash provided by operating activities was robust at $613.4 million for the first six months of 2026.

IDEXX continues to engage in share repurchases. During the first six months of 2026, the company repurchased $703.7 million of its common stock, indicating a commitment to enhancing shareholder value.