IDEXX earnings: guidance and next results
IDEXX's next results are expected on November 2, 2026. Watch whether recurring testing growth comes from adoption and repeat use, not just revenue.
What has IDEXX guided for the year?
Management’s 2026 guidance says IDEXX expects diagnostic and earnings growth even as it invests. Revenue guidance is $4,700 million–$4,745 million for the year ending December 2026. EPS guidance is $14.69–$14.94, where EPS means profit attributable to each share.
Organic growth does not mean 10% more tests. IDEXX’s recurring Companion Animal Group, or CAG, diagnostics target is 9.5%–10.7% organic growth in 2026, but the plan also includes 4.0% net price improvement. A price increase can lift revenue from the same number of tests, so new customers, more tests per customer and new products must provide the rest.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue | Year to Dec 2026 | 4,700 | 4,745 | Aug 4, 2026 |
| Revenue — Organic growth | Year to Dec 2026 | 8.5% | 9.7% | Aug 4, 2026 |
| CAG Diagnostics Recurring Revenue Growth — Organic growth | Year to Dec 2026 | 9.5% | 10.7% | Aug 4, 2026 |
| EPS | Year to Dec 2026 | 14.69 | 14.94 | Aug 4, 2026 |
Has IDEXX kept its past promises?
Management also has evidence of delivering on operating promises. During 2025, it raised the inVue Dx placement goal from an initial 4,500 to approximately 6,000. The 2025 installed base later stood at roughly 6,400. Erickson had operating responsibility during that launch, although Mazelsky was CEO.
What has IDEXX's last eight quarters shown?
Margins and earnings improved as recurring volume, pricing and productivity grew faster than associated costs. Diluted EPS rose faster than net income partly because the share count declined, but tax benefits also helped. Q2 2026 included a larger share-award tax benefit than the prior-year quarter, so the underlying per-share improvement was smaller than the reported increase.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,216,585 | 1,140,820 | 1,090,579 | 1,105,239 | 1,109,457 | 998,427 | 954,288 | 975,543 |
| Gross margin | 64.0% | 63.4% | 60.3% | 61.8% | 62.6% | 62.4% | 59.8% | 61.1% |
| Operating income | 425,566 | 362,586 | 315,605 | 354,846 | 373,046 | 316,534 | 261,686 | 303,892 |
| Net income | 338,412 | 278,446 | 248,188 | 274,610 | 293,989 | 242,677 | 216,149 | 232,841 |
| EPS, diluted | 4.27 | 3.47 | 3.08 | 3.40 | 3.63 | 2.96 | 2.62 | 2.80 |
What this means. The September and December cash flow figures are single-quarter amounts calculated from year-to-date totals, not the full nine-month or yearly totals.
What should I watch in IDEXX's next results?
The nearest decisive checkpoint is IDEXX’s third-quarter release on November 2, 2026, before the market opens, followed by an 8:30 a.m. Eastern call. The key evidence will be adoption, not simply revenue.