IDEXX Laboratories Inc. (NASDAQ: IDXX) shares jumped 13% in intra-day trading on Monday after the veterinary diagnostics firm reported third-quarter results that exceeded analyst expectations, supported by strong adoption of its advanced diagnostic technologies.
The company posted adjusted earnings of $3.22 per share, ahead of analyst forecasts of $3.14. Revenue rose 13% year-over-year to $1.1 billion, surpassing consensus estimates of $1.07 billion. Organic revenue growth stood at 12% for the period.
Growth was led by the Companion Animal Group (CAG) segment, which saw a 14% increase in revenue. CAG Diagnostics recurring revenue advanced 11% as reported and 10% organically, driven by robust demand for IDEXX VetLab consumables, which grew 18% on a reported basis.
IDEXX placed more than 1,700 IDEXX inVue Dx analyzers during the quarter, leading to a 74% increase in CAG Diagnostics capital instrument revenues. Operating margin expanded 100 basis points to 32.1%.
Following the strong results, the company raised its full-year 2025 guidance, now expecting revenue between $4.27 billion and $4.3 billion, representing growth of 9.6% to 10.3%. EPS guidance was also lifted to a range of $12.81 to $13.01, above the consensus estimate of $12.63.
