Q3 25 EPS
$3.40
BEAT +8.29%
Est. $3.14
Q3 25 Revenue
$1.11B
BEAT +3.16%
Est. $1.07B
vs S&P Since Q3 25
-23.6%
TRAILING MARKET
IDXX -16.3% vs S&P +7.3%
Market Reaction
Did IDXX Beat Earnings? Q3 2025 Results
IDEXX Laboratories posted a standout third quarter, with earnings per share of $3.40 beating the $3.14 consensus estimate by 8.29%, extending the company's streak of beating EPS expectations to four consecutive quarters. Revenue of $1.11 billion grew… Read more IDEXX Laboratories posted a standout third quarter, with earnings per share of $3.40 beating the $3.14 consensus estimate by 8.29%, extending the company's streak of beating EPS expectations to four consecutive quarters. Revenue of $1.11 billion grew 13.3% year over year and came in 3.16% ahead of the Street's $1.07 billion forecast, underpinned by exceptional commercial momentum in the Companion Animal Group, where over 1,700 placements of the new inVue Dx cellular analyzer drove capital instrument revenues sharply higher and signaled accelerating adoption of IDEXX's in-house imaging platform. Gross margin expanded 70 basis points to 61.8%, while operating margin reached 32.1%, reflecting favorable volume leverage and pricing gains. Free cash flow nearly doubled to $371.23 million. Encouraged by the broad-based strength, management raised full-year 2025 revenue guidance to $4.27 billion to $4.30 billion and lifted EPS guidance to $12.81 to $13.01, citing stronger CAG recurring revenue trends, higher inVue Dx placements, and operational execution as the key drivers of the improved outlook.
Key Takeaways
- • Strong IDEXX VetLab consumables growth driven by testing utilization gains and 10% premium instrument installed base expansion
- • CAG Diagnostics recurring revenue outpaced sector growth with 11% reported growth (10% organic)
- • Over 1,700 IDEXX inVue Dx placements drove 74% CAG Diagnostics capital instrument revenue growth
- • International CAG Diagnostics recurring revenue grew 18% reported (14% organic)
- • U.S. growth aided by increased diagnostic frequency and easing clinical visit pressures
- • Reference lab productivity initiatives and volume gains supported gross margin expansion
- • Net price realization helped offset inflationary impacts
IDXX YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
IDXX Revenue by Segment
With YoY comparisons, source: SEC Filings
IDXX Revenue by Geography
With YoY comparisons, source: SEC Filings
“IDEXX made exceptional progress on our innovation-driven growth strategy with strong execution and global customer adoption. Building on the successful launch of IDEXX Cancer Dx™, new Catalyst specialty tests for Pancreatic Lipase and Cortisol, and the transformative impact of IDEXX inVue Dx, we are delivering powerful new diagnostic capabilities. These solutions elevate clinical insights, streamline workflows, and create meaningful value for veterinary teams. The enthusiastic response — as reflected in our strong growth profile — highlights the trust our customers place in IDEXX.”
— Jay Mazelsky, Q3 2025 Earnings Press Release
IDXX Earnings Trends
IDXX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
IDXX EPS Trend
Earnings per share: estimate vs actual
IDXX Revenue Trend
Quarterly revenue: estimate vs actual
IDXX Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $3.41 | $3.47 | +1.74% | $1.14B | +2.88% |
| Q4 25 BEAT | $2.94 | $3.08 | +4.85% | $1.09B | +1.73% |
| Q3 25 BEAT | $3.14 | $3.40 | +8.29% | $1.11B | +3.16% |
| Q2 25 BEAT | $3.30 | $3.63 | +9.97% | $1.11B | +3.95% |
| Q1 25 BEAT | $2.84 | $2.96 | +4.06% | $998.4M | +0.20% |
| Q2 23 BEAT | $2.47 | $2.67 | +8.10% | $943.6M | +0.99% |
| Q1 22 BEAT | $2.26 | $2.27 | +0.44% | $836.5M | -0.38% |