IDEXX (IDXX) Q4 2025 Earnings Call Transcript

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Feb. 2, 2026 astatine 8:30 a.m. ET

• President and Chief Executive Officer — Jay Mazelsky

• Chief Financial Officer — Andrew Emerson

• Vice President, Investor Relations — John Ravis

Operator: Good morning, and invited to the IDEXX Laboratories Fourth Quarter 2025 Earnings Conference Call. As a reminder, today's league is being recorded. Participating successful the telephone this greeting are Jay Mazelsky, President and Chief Executive Officer, Andrew Emerson, Chief Financial Officer, and John Ravis, Vice President, Investor Relations. IDEXX would similar to preface the treatment contiguous with a caution regarding forward-looking statements. Listeners are reminded that our treatment during the telephone volition see forward-looking statements that are taxable to risks and uncertainties that could origin existent results to disagree materially from those discussed today.

Additional accusation regarding these risks and uncertainties is disposable nether the forward-looking statements announcement successful our property merchandise issued this greeting arsenic good arsenic successful our periodic filings with the Securities and Exchange Commission, which tin beryllium obtained from the SEC oregon by visiting the Investor Relations conception of our website, idexx.com. During this call, we volition beryllium discussing definite fiscal measures not prepared successful accordance with Generally Accepted Accounting Principles oregon GAAP. A reconciliation of these non-GAAP fiscal measures to the astir straight comparable GAAP measures is provided successful our net release, which whitethorn besides beryllium recovered by visiting the Investor Relations conception of our website.

In reviewing our 4th fourth 2025 results and 2026 fiscal outlook, delight enactment each references to growth, integrated growth, and comparable maturation notation to maturation compared to the equivalent anterior twelvemonth play unless different noted. To let wide information successful the Q&A, we inquire that each subordinate bounds their questions to one, with 1 follow-up arsenic necessary. We admit you whitethorn person further questions, truthful delight consciousness escaped to get backmost into the queue. And if clip permits, we'll instrumentality your further questions. Today's prepared remarks volition beryllium posted to the Investor Relations conception of our website aft the net league telephone concludes. I would present similar to crook the telephone implicit to Andrew Emerson.

Good morning, and invited to our 4th fourth net call.

Andrew Emerson: Today, I'm pleased to reappraisal our Q4 and afloat twelvemonth 2025 fiscal results and the company's outlook for 2026. In presumption of highlights for 2025, IDEXX delivered fantabulous fiscal show successful Q4, driven by double-digit top-line gains. Revenue accrued 14% arsenic reported and 12% organically, supported by 10% integrated maturation successful CAG Diagnostics recurring revenues. We achieved grounds premium instrumentality placements successful Q4, with beardown gains crossed our large platforms, including implicit 1,900 IDEXX InVue DX placements, supporting a 69% integrated year-over-year enlargement of our CAG Diagnostic instrumentality revenues. Strong gross maturation delivered $3.08 successful EPS, up 17% connected a comparable ground portion advancing planned investments successful our commercialized and innovation capabilities.