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Company file · IDXX

Idexx Laboratories

Idexx Laboratories' revenue rose 10.4% in FY2025, to $4.3B, and net income rose 19.3% to $1.1B

Revenue rose 10.4% to $4.3B in FY2025, from $3.9B in FY2024. Net income rose 19.3% to $1.1B. Companion Animal Group was the largest segment, at 92% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 20, 2026) · Latest quarter: 10-Q for the quarter ended Sep 30, 2026 (filed Nov 2, 2026) · Data pulled Nov 11, 2026

Key facts

Idexx Laboratories (Nasdaq: IDXX) closed fiscal 2025 on Dec 31, 2025 with revenue of $4.3B, up 10.4% from a year before; net income came to $1.1B, up 19.3%. Its newest quarterly report covers the three months to Sep 30, 2026: revenue of $1.2B, up 9.9% on the same stretch of the prior year, and net income of $317M. Broken down by segment, Companion Animal Group led with 92% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 20, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Nov 2, 2026).

Revenue$4.3BFY2025 · +10.4% vs FY2024
Net income$1.1BFY2025 · +19.3% vs FY2024
Operating cash flow$1.2BFY2025 · +27.2% vs FY2024
Cash & equivalents$198Mat Sep 30, 2026 · +9.7% vs FY2025 end
Total debt$375Mat Sep 30, 2026 · −16.7% vs FY2025 end
Diluted shares81MFY2025 avg · −2.7% vs FY2024
Revenue and net income, three fiscal yearsBy fiscal year, $bn
RevenueNet income
Revenue and net income by fiscal yearRevenue FY2023: $3.7B3.7Net income FY2023: $845M0.85FY2023Revenue FY2024: $3.9B3.9Net income FY2024: $888M0.89FY2024Revenue FY2025: $4.3B4.3Net income FY2025: $1.1B1.1FY2025Data: Ticker Sage, from SEC EDGAR · tickersage.com

Source: 10-K FY2025, filed Feb 20, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)
FY2025FY2026
Quarterly revenue, fiscal 2026 vs 2025FY2025 Q1: $998M1.00FY2026 Q1: $1.1B1.1Q1FY2025 Q2: $1.1B1.1FY2026 Q2: $1.2B1.2Q2FY2025 Q3: $1.1B1.1FY2026 Q3: $1.2B1.2Q3Data: Ticker Sage, from SEC EDGAR · tickersage.com

Source: 10-Q filed May 5, 2026 · 10-Q filed Aug 4, 2026 · 10-Q filed Nov 2, 2026

How it makes money

FY2025 total by categoryCompanion Animal Group: $4.0B (92%)Water: $201M (5%)Livestock and Poultry Diagnostics: $132M (3%)$4.3BFY2025 totalData: Ticker Sage, from SEC EDGARtickersage.com

By segment, FY2025

  • LineAmountSharevs FY2024
  • Companion Animal Group$4.0B92%+10.6%
  • Water$201M5%+8.7%
  • Livestock and Poultry Diagnostics$132M3%+8.0%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: Companion Animal Group (92%), Water (5%) and Livestock and Poultry Diagnostics (3%), as shares of total revenue. Total revenue was $4.3B.

By segment: three-year mixShare of the total each fiscal year
Companion Animal GroupWaterLivestock and Poultry Diagnostics

Source: 10-K FY2025

By product or service, FY2025

Products$2.5B59%+12.9%
Services$1.8B41%+7.0%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue
$1.2B Q3 2026
$1.1B Q3 2025
9.9% increase
Net income
$317M Q3 2026
$275M Q3 2025
15.5% increase

Source: Idexx Laboratories 10-Q for the quarter ended Sep 30, 2026, filed Nov 2, 2026

By segment

Companion Animal Group
$1.1B Q3 2026
$1.0B Q3 2025
10.2% increase
Water
$59M Q3 2026
$54M Q3 2025
8.4% increase
Livestock and Poultry Diagnostics
$35M Q3 2026
$34M Q3 2025
2.6% increase

Source: Idexx Laboratories 10-Q for the quarter ended Sep 30, 2026, filed Nov 2, 2026

  • Cash & equivalents $198M at Sep 30, 2026, vs $180M at FY2025 end.
  • Total debt $375M at Sep 30, 2026, vs $450M at FY2025 end.
  • Operating cash flow, first 9 months of fiscal 2026: $1.1B vs $826M a year earlier.

The bull case and the bear case

The bull case

  • Revenue rose 10.4% in FY2025 to $4.3B, from $3.9B a year earlier. 10-K, FY2025
  • Net income rose 19.3% in FY2025 to $1.1B, from $888M. 10-K, FY2025
  • Operating cash flow rose 27.2% in FY2025 to $1.2B. 10-K, FY2025
  • Diluted shares fell 2.7% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025

The bear case

  • The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include regulation; pricing and reimbursement; competition. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Idexx Laboratories is in the health care equipment industry, part of the health care sector. The SEC files it under In Vitro & In Vivo Diagnostic Substances.

Idexx Laboratories reports 3 segments: Companion Animal Group, Water and Livestock and Poultry Diagnostics.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the health care equipment industry. They are not a summary of Idexx Laboratories’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

  1. RegulationApprovals, safety rules and government oversight shape what it can sell and how.
  2. Pricing and reimbursementPayers, insurers and governments influence what it can charge.
  3. CompetitionNew treatments, generics and rival products can take share.
  4. LitigationProduct liability and other legal claims can lead to costs.
  5. SupplyManufacturing and supplier problems can interrupt products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$FY2023FY2024FY2025
Revenue$3.7B$3.9B$4.3B
Net income$845M$888M$1.1B
Operating cash flow$907M$929M$1.2B
Cash & equivalents (year end)$454M$288M$180M
Total debt (year end)$698M$618M$450M
Diluted shares84M83M81M
  • Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
  • Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
  • Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
  • Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
  • Total debt: The current part of long-term debt plus long-term debt, at carrying value.
  • Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

    Recent filings

    FormFiledPeriod
    10-QNov 2, 2026Sep 30, 2026
    10-QAug 4, 2026Jun 30, 2026
    10-QMay 5, 2026Mar 31, 2026
    DEF 14AMar 27, 2026Dec 31, 2025
    10-KFeb 20, 2026Dec 31, 2025

    Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

    Common questions about Idexx Laboratories

    How does Idexx Laboratories make money?

    Fiscal 2025 revenue: $4.3B. By segment in FY2025: Companion Animal Group (92%), Water (5%) and Livestock and Poultry Diagnostics (3%), as shares of total revenue. Total revenue was $4.3B. Source: 10-K for fiscal 2025, filed Feb 20, 2026.

    What was Idexx Laboratories's revenue in fiscal 2025?

    $4.3B, up 10.4% from fiscal 2024 ($3.9B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $3.7B. Source: 10-K for fiscal 2025, filed Feb 20, 2026.

    Is Idexx Laboratories profitable?

    Net income was $1.1B in fiscal 2025 (up 19.3%; fiscal 2024 was $888M). That counts as a GAAP profit. The latest quarter, ended Sep 30, 2026: net income was $317M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 20, 2026.

    What did Idexx Laboratories report in its latest quarterly filing?

    For the three months to Sep 30, 2026: revenue $1.2B (up 9.9% from $1.1B) and net income $317M (up 15.5% from $275M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Nov 2, 2026.

    How much cash and debt does Idexx Laboratories have?

    As of Sep 30, 2026: $198M of cash and cash equivalents, $375M of total debt. Total debt here is the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Nov 2, 2026.

    What are the main risks Idexx Laboratories faces?

    Idexx Laboratories's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 20, 2026. Risks that are common among companies in the health care equipment industry include Regulation; pricing and reimbursement; competition; litigation; supply. The first: Approvals, safety rules and government oversight shape what it can sell and how. Source: 10-K, Item 1A Risk Factors.

    Where do these Idexx Laboratories numbers come from?

    The 10-K filed Feb 20, 2026 (fiscal 2025) and the 10-Q filed Nov 2, 2026 (quarter ended Sep 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.

    Tracked funds that report owning Idexx Laboratories

    From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

    Disclosures

    Editor holdings in IDXX
    The editor holds no position in Idexx Laboratories (IDXX). As of Nov 11, 2026.
    Trading rule
    The editor does not buy or sell IDXX from 3 days before to 3 days after this page is published or substantively updated.
    Compensation
    Nobody paid for this page. No affiliate links on this page.
    Sources
    The company's SEC filings, linked next to each number or, for charts, in the source line under them.
    Last updated
    Nov 6, 2026

    General education, the same for every reader. Not a recommendation to buy, sell or hold IDXX, and it doesn't consider your situation.

    Compare with peers

    CompanyFiscal yearRevenueRevenue growthNet income
    Idexx LaboratoriesIDXXFY2025$4.3B+10.4%$1.1B
    AbbottABTFY2025$44.3B+5.7%$6.5B
    Intuitive SurgicalISRGFY2025$10.1B+20.5%$2.9B
    MedtronicMDTFY2026$36.4B+8.4%$4.8B
    StrykerSYKFY2025$25.1B+11.2%$3.2B

    Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

    More company files

    New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.