IDEXX Laboratories Posts Q4 Revenue of $1.09B, Beats EPS by $0.15 and Guides 7%–9% Growth
IDEXX reported Q4 revenue of $1.09 billion, up 14% reported and 12% organically, with EPS of $3.08 topping consensus by $0.15. It generated $1.1 billion free cash flow, placed 1,900 inVue Dx instruments and guided 7%–9% organic revenue growth to $4.63–$4.72 billion in 2026.
1. Financial Performance Highlights
IDEXX delivered Q4 revenue of $1.09 billion, a 14% increase on a reported basis and 12% organically, with EPS of $3.08, $0.15 above expectations. Full-year revenue rose 10% to $4.30 billion, EPS grew 14% to $13.08, and operating margin expanded to 31.6%.
2. Companion Animal Diagnostics Growth
The Companion Animal Group generated $998 million in Q4 revenue, up 13% organically, driven by recurring diagnostic tests, volume gains and a 4% average global net price increase. The company set a quarterly record with 1,900 new inVue Dx instrument placements, lifting diagnostic instrument revenue by 69% organically and expanding its installed base by 12%.
3. Cash Flow, Returns and Guidance
The company converted net income into $1.1 billion of free cash flow in 2025 and returned $1.2 billion to shareholders via share repurchases. Management projects 2026 revenue of $4.63–$4.72 billion, reflecting 7%–9% organic growth, with EPS of $14.29–$14.80 supported by continued margin expansion.