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IDEXX Laboratories, Inc. (IDXX - Free Report) posted third-quarter 2025 earnings per share (EPS) of $3.40, up 21.4% year over year. The figure surpassed the Zacks Consensus Estimate by 8.3%.
Comparable constant-currency EPS of $3.22 improved 15.4% year over year.
IDEXX’s Q3 Revenues
Quarterly revenues increased 13.3% year over year (up 12% organically) to $1.11 billion. The reported figure topped the Zacks Consensus Estimate by 3.2%.
This year-over-year upside was primarily driven by Companion Animal Group ("CAG") growth of 14% as reported and 12% organic, and Livestock, Poultry and Dairy ("LPD") revenue growth of 17% as reported and 14% organic.
Veterinary software, services and diagnostic imaging systems’ revenues increased 11% on a reported basis (same organically).
Following the earnings announcement, IDXX shares gained 6.4% in the pre-market trading today.
IDEXX’s Q3 Revenue Analysis by Segments
IDEXX derives revenues from four operating segments: CAG, Water, LPD and Other.
CAG’s revenues rose 13.5% year over year on a reported basis and 12.2% on an organic basis to $1.01 billion.
The Water segment’s revenues increased 8.2% year over year on a reported and 7% on an organic basis to $54.3 million.
For the third quarter, LPD revenues jumped 17.1% reportedly and 14.2% on an organic basis to $33.9 million.
Revenues from the Other segment increased 1.5%, on a reported basis as well as organically, to $4.5 million.
IDEXX’s Margin Performance
The gross profit rose 14.6% to $683.3 million. The gross margin expanded 73 basis points (bps) to 61.8% despite a 11.2% rise in the cost of revenues.
Sales and marketing expenses surged 8.8% to $159.2 million. G&A expenses rose 15.3% to $105.9 million. R&D expenses jumped 17.4% to $63.4 million. The operating profit in the reported quarter rose 16.8% year over year to $354.8 million. The operating margin in the quarter expanded 95 bps to 32.1%.
IDEXX’s Financial Position
IDEXX exited the third quarter with cash and cash equivalents of $208.2 million compared with $164.6 million at the end of the second quarter.
Cumulative net cash provided by operating activities was $826 million compared with $667 million in the prior-year period.
IDEXX Laboratories, Inc. Price, Consensus and EPS Surprise
Total revenues for 2025 are now expected to be in the range of $4,270-$4,300 million (previously $4,205-$4,280 million), indicating growth of 9.6-10.3% on a reported basis and 8.8-9.5% on an organic basis. The Zacks Consensus Estimate is currently pegged at $4.23 billion.
IDEXX now expects full-year EPS to be in the range of $12.81-$13.01 (previously $12.40-$12.76), indicating growth of 20-22%. The Zacks Consensus Estimate for full-year EPS is currently pegged at $12.61.
Our View on IDEXX
IDEXX exited the third quarter of 2025 with both revenues and earnings beating estimates. Strong organic revenue growth was supported by IDEXX execution and commercial performance, reflecting benefits from IDEXX's innovation, including more than 1,700 IDEXX in Vue Dx placements.
Sustained commercial execution, including net customer gains, growing benefits from IDEXX innovation, and expansion of the premium instrument installed base drove double-digit CAG Diagnostics recurring revenue growth.
The Water segment displayed solid organic growthboth inthe United States and Internationally. LPD revenue increase was led by strong growth across core product categories and major geographies. Furthermore, the expansion of both margins in the quarter is highly encouraging.
IDEXX’s Zacks Rank & Other Key Picks
IDXX currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader medical space are Medpace Holdings (MEDP - Free Report) , Veracyte (VCYT - Free Report) and Boston Scientific (BSX - Free Report) .
Medpace, currently sporting a Zacks Rank #1 (Strong Buy), reported a third-quarter 2025 EPS of $3.86, which surpassed the Zacks Consensus Estimate by 10.29%. Revenues of $659.9 million beat the Zacks Consensus Estimate by 3.04%. You can see the complete list of today’s Zacks #1 Rank stocks here.
MEDP has an estimated earnings growth rate of 17.1% for 2025 compared with the industry’s 16.6% growth. The company beat on earnings in each of the trailing four quarters, the average surprise being 14.28%.
Veracyte, currently carrying a Zacks Rank #1, reported second-quarter 2025 adjusted EPS of 44 cents, which beat the Zacks Consensus Estimate by 41.9%. Revenues of $130.2 million topped the Zacks Consensus Estimate by 7.1%.
VCYT has an estimated earnings growth rate of 19.3% for 2025 compared with the industry’s 12.9%. The company beat on earnings in each of the trailing four quarters, the average surprise being 242.77%.
Boston Scientific, currently carrying a Zacks Rank #2, reported a third-quarter 2025 adjusted EPS of 75 cents, which surpassed the Zacks Consensus Estimate by 5.6%. Revenues of $5.07 billion topped the Zacks Consensus Estimate by 1.9%.
BSX has an estimated long-term earnings growth rate of 16.4% compared with the industry’s 13.5% growth. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 7.36%.
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IDXX Stock Climbs on Q3 Earnings and Revenue Beat, '25 View Up
Key Takeaways
IDEXX Laboratories, Inc. (IDXX - Free Report) posted third-quarter 2025 earnings per share (EPS) of $3.40, up 21.4% year over year. The figure surpassed the Zacks Consensus Estimate by 8.3%.
Comparable constant-currency EPS of $3.22 improved 15.4% year over year.
IDEXX’s Q3 Revenues
Quarterly revenues increased 13.3% year over year (up 12% organically) to $1.11 billion. The reported figure topped the Zacks Consensus Estimate by 3.2%.
This year-over-year upside was primarily driven by Companion Animal Group ("CAG") growth of 14% as reported and 12% organic, and Livestock, Poultry and Dairy ("LPD") revenue growth of 17% as reported and 14% organic.
Veterinary software, services and diagnostic imaging systems’ revenues increased 11% on a reported basis (same organically).
Following the earnings announcement, IDXX shares gained 6.4% in the pre-market trading today.
IDEXX’s Q3 Revenue Analysis by Segments
IDEXX derives revenues from four operating segments: CAG, Water, LPD and Other.
CAG’s revenues rose 13.5% year over year on a reported basis and 12.2% on an organic basis to $1.01 billion.
The Water segment’s revenues increased 8.2% year over year on a reported and 7% on an organic basis to $54.3 million.
For the third quarter, LPD revenues jumped 17.1% reportedly and 14.2% on an organic basis to $33.9 million.
Revenues from the Other segment increased 1.5%, on a reported basis as well as organically, to $4.5 million.
IDEXX’s Margin Performance
The gross profit rose 14.6% to $683.3 million. The gross margin expanded 73 basis points (bps) to 61.8% despite a 11.2% rise in the cost of revenues.
Sales and marketing expenses surged 8.8% to $159.2 million. G&A expenses rose 15.3% to $105.9 million. R&D expenses jumped 17.4% to $63.4 million. The operating profit in the reported quarter rose 16.8% year over year to $354.8 million. The operating margin in the quarter expanded 95 bps to 32.1%.
IDEXX’s Financial Position
IDEXX exited the third quarter with cash and cash equivalents of $208.2 million compared with $164.6 million at the end of the second quarter.
Cumulative net cash provided by operating activities was $826 million compared with $667 million in the prior-year period.
IDEXX Laboratories, Inc. Price, Consensus and EPS Surprise
IDEXX Laboratories, Inc. price-consensus-eps-surprise-chart | IDEXX Laboratories, Inc. Quote
IDEXX’s 2025 Guidance
IDEXX raised its financial guidance for 2025.
Total revenues for 2025 are now expected to be in the range of $4,270-$4,300 million (previously $4,205-$4,280 million), indicating growth of 9.6-10.3% on a reported basis and 8.8-9.5% on an organic basis. The Zacks Consensus Estimate is currently pegged at $4.23 billion.
IDEXX now expects full-year EPS to be in the range of $12.81-$13.01 (previously $12.40-$12.76), indicating growth of 20-22%. The Zacks Consensus Estimate for full-year EPS is currently pegged at $12.61.
Our View on IDEXX
IDEXX exited the third quarter of 2025 with both revenues and earnings beating estimates. Strong organic revenue growth was supported by IDEXX execution and commercial performance, reflecting benefits from IDEXX's innovation, including more than 1,700 IDEXX in Vue Dx placements.
Sustained commercial execution, including net customer gains, growing benefits from IDEXX innovation, and expansion of the premium instrument installed base drove double-digit CAG Diagnostics recurring revenue growth.
The Water segment displayed solid organic growth both in the United States and Internationally. LPD revenue increase was led by strong growth across core product categories and major geographies. Furthermore, the expansion of both margins in the quarter is highly encouraging.
IDEXX’s Zacks Rank & Other Key Picks
IDXX currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader medical space are Medpace Holdings (MEDP - Free Report) , Veracyte (VCYT - Free Report) and Boston Scientific (BSX - Free Report) .
Medpace, currently sporting a Zacks Rank #1 (Strong Buy), reported a third-quarter 2025 EPS of $3.86, which surpassed the Zacks Consensus Estimate by 10.29%. Revenues of $659.9 million beat the Zacks Consensus Estimate by 3.04%. You can see the complete list of today’s Zacks #1 Rank stocks here.
MEDP has an estimated earnings growth rate of 17.1% for 2025 compared with the industry’s 16.6% growth. The company beat on earnings in each of the trailing four quarters, the average surprise being 14.28%.
Veracyte, currently carrying a Zacks Rank #1, reported second-quarter 2025 adjusted EPS of 44 cents, which beat the Zacks Consensus Estimate by 41.9%. Revenues of $130.2 million topped the Zacks Consensus Estimate by 7.1%.
VCYT has an estimated earnings growth rate of 19.3% for 2025 compared with the industry’s 12.9%. The company beat on earnings in each of the trailing four quarters, the average surprise being 242.77%.
Boston Scientific, currently carrying a Zacks Rank #2, reported a third-quarter 2025 adjusted EPS of 75 cents, which surpassed the Zacks Consensus Estimate by 5.6%. Revenues of $5.07 billion topped the Zacks Consensus Estimate by 1.9%.
BSX has an estimated long-term earnings growth rate of 16.4% compared with the industry’s 13.5% growth. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 7.36%.