AI-extracted from the 10-Q filed 2026-08-04 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q2 revenue rose 9.7% to $1,216.6M on 11.0% CAG Diagnostics recurring growth, with gross margin up 140 bps to 64.0% despite a 19.5% drop in instrument revenue.
Biggest Revenue Drivers
CAG (Companion Animal Group)$1,118.2M+9.4% YoY
Higher IDEXX VetLab consumables and reference laboratory volumes plus higher realized prices
Water$58.6M+14.8% YoY
Higher volumes in the Americas and Europe, led by Colilert coliform and E. coli test demand
Biggest Revenue Drivers
Total revenue: $1,216.6M+9.7% YoY
CAG (Companion Animal Group)$1,118.2M+9.4% YoY
Higher IDEXX VetLab consumables and reference laboratory volumes plus higher realized prices
Higher sales volumes of VetLab consumables and reference lab testing, plus higher realized prices
CAG Diagnostics capital - instruments$47.2M-19.5% YoY
Lower placements of the IDEXX inVue Dx Analyzer versus broad commercial availability in Q2 2025
Water$58.6M+14.8% YoY
Higher volumes in the Americas and Europe, led by Colilert coliform and E. coli test demand
LPD (Livestock, Poultry and Dairy)$35.2M+10.8% YoY
Higher test volumes, particularly in the Americas, and higher realized prices
Largest Expense Items
Sales and marketing$171.3M+6.3% YoY
Higher personnel-related and travel costs and costs related to commercial expansion
General and administrative$116.8M+18.4% YoY
Higher personnel costs and higher depreciation/amortization from technology and infrastructure investments
Research and development$65.4M+5.7% YoY
Higher personnel-related costs
Margins: Gross margin rose 140 bps to 64.0% on proportionally higher VetLab consumable and reference lab volume, mix from lower premium instrument revenue, productivity, and net price realization. Operating margin reached 35.0%.
Watch Items from the Filing
CAG Diagnostics capital - instrument revenue fell 19.5% to $47.2M on lower IDEXX inVue Dx Analyzer placements versus prior-year launch availability.
Rapid assay revenue grew just 1.3% to $101.6M as lower vector-borne disease testing and a shift of pancreatic lipase testing to Catalyst offset price.
Multi-year customer commitment arrangements represent approximately $5.3 billion of estimated future revenue, with 14% expected in the remainder of 2026.
Credit Facility borrowings rose to $519.0M from $398.0M; $75.0M 2026 Senior Notes due September 4, 2026, and $75.0M 2027 Notes due February 2027.
International revenue is 36% of the total at $443.6M; a 1% U.S. dollar strengthening would reduce revenue by roughly $8M and operating income by $3M.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
22 transactions in IDXX reported by 6 members of Congress under the STOCK Act, most recent trade Jan 13, 2026. Reported transactions, not recommendations.
About IDEXX LABORATORIES INC /DE (IDXX): stock profile, AI score and financials
IDEXX LABORATORIES INC /DE (IDXX) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores IDXX at 74.3/100 on a composite quality score built from its SEC filings, placing it at rank #109 of 2,925 stocks — the top 5% of the AI-ranked universe. IDXX scores in the top quartile across balance sheet strength (98.7), profitability (84.5), free cash flow (81.6). Shareholder dilution risk is elevated at 47.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), IDEXX LABORATORIES INC /DE reports quarterly revenue of $1.2B, net income of $338.4M, an operating margin of 35.0%. Top institutional holders of IDXX by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. IDXX trades on the Nasdaq exchange and files with the SEC under CIK 874716. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate IDXX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for IDEXX LABORATORIES INC /DE directly from SEC EDGAR.