IDEXX Laboratories, Inc. announced its first-quarter 2025 financial results, with revenues reaching $998 million, an increase of 4% as reported and 5% organically. The Companion Animal Group (CAG) segment contributed to this growth with a 3% reported and 4% organic increase, while CAG Diagnostics recurring revenue grew 4.5% organically. Earnings per diluted share (EPS) were $2.96, up 5% as reported and 7% on a comparable basis, excluding a discrete litigation expense accrual adjustment.
The company updated its full-year 2025 revenue guidance range to $4,095 million - $4,210 million, representing reported growth of 5% - 8%, an increase of $40 million at the midpoint. The organic revenue growth outlook was maintained at 6% - 9%. The full-year EPS outlook was also raised to $11.93 - $12.43, incorporating a $0.19 increase, with comparable EPS growth maintained at 8% - 12%.
IDEXX highlighted strong progress with its new innovations, noting that the IDEXX inVue Dx Cellular Analyzer moved to broad availability in April 2025, with over 300 placements in the first quarter. The IDEXX Cancer Dx panel, launched in North American reference laboratories at the end of March, also contributed to the positive outlook. These new product adoptions are key drivers for the company's sustained growth.
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