- Q1 revenue reached $1.14 billion, up 14% reported
- Companion Animal Group diagnostics led growth
- EPS increased to $3.47, up 17% year over year
- Strong performance driven by testing volume and innovation
- Company raised full-year revenue and EPS guidance
- Continued expansion of diagnostic platforms and global footprint
IDEXX Laboratories reported strong financial results for the first quarter of 2026, with revenue reaching $1.14 billion, representing 14% reported growth and 11% organic growth compared to the prior year period.
Growth was primarily driven by the Companion Animal Group (CAG), where diagnostics recurring revenue increased 14% as reported. Performance was supported by higher testing volumes, expansion of the installed instrument base, and continued adoption of new diagnostic technologies.
Diagnostics and innovation drive growth
CAG diagnostics performance was fueled by gains in IDEXX VetLab consumables, reference laboratory services, and capital instrument placements. The company also reported continued momentum from newer platforms, including cancer diagnostics and in-clinic diagnostic systems.
International markets contributed significantly to growth, alongside steady expansion in the U.S. supported by improving clinical visit trends and increased diagnostic utilization.
Profitability and operational performance
Earnings per share reached $3.47, reflecting a 17% increase year over year. Operating margin expanded modestly, supported by recurring revenue growth and operational efficiencies, while ongoing investments in research and development and commercial capabilities continued.
Updated 2026 outlook
IDEXX raised its full-year 2026 guidance, now projecting revenue between $4.675 billion and $4.760 billion, alongside an increased earnings per share outlook of $14.45 to $14.90.
The updated outlook reflects strong first-quarter performance, continued diagnostics growth, and expectations for improving market conditions.
Information sourced from the company’s press release.
