▪ Delivers EPS of $4.01, an increase of 18% as reported and 22% on a comparable basis, with operating margin up 100 basis points as reported and 60 basis points on a[...]

WESTBROOK, Maine, November 2, 2026 - IDEXX Laboratories, Inc. (Nasdaq: IDXX), a global leader in pet healthcare innovation, today announced third quarter results.

Third Quarter Results

The Company reports revenues of $1,214 million for the third quarter of 2026, an increase of 10% as reported and organic, driven by Companion Animal Group ("CAG") growth of 10% as reported and organic.

Third quarter earnings per diluted share ("EPS") were $4.01, an increase of 18% as reported and 22% on a comparable basis. Third quarter EPS included $0.03 per share benefit from a non-operating gain on an equity investment, $0.01 per share in tax benefits from share-based compensation, and $0.04 per share benefit from year-over-year currency changes, while absorbing acquisition impacts.

"IDEXX delivered exceptional third quarter results, reflecting strong commercial execution and momentum from our innovation-driven growth strategy," said Mike Erickson, President and Chief Executive Officer. "Innovations like IDEXX inVue Dx with FNA, and IDEXX Cancer Dx becoming a multi-cancer panel, are helping practices detect disease earlier and work more efficiently. In software, we advanced our capabilities with the acquisition of CoVet, an AI clinical assistant that supports veterinary team productivity and diagnostics utilization, creating more value for our customers and shareholders."

Third Quarter Performance Highlights

Companion Animal Group ("CAG")

CAG revenue growth was led by CAG Diagnostics recurring revenue growth of 11% as reported and organic, including 13% reported and 14% organic gains in International regions and 10% reported and organic growth in the U.S., outpacing sector growth levels.

Additional U.S. companion animal practice key metrics are available in the Q3 2026 Earnings Snapshot accessible on the IDEXX website, www.idexx.com/investors.

Strong same-store volume growth, IDEXX innovation benefits, net customer gains and premium instrument installed base expansion drove double-digit CAG Diagnostics recurring revenue growth.

CAG Diagnostics capital instrument revenues were flat on an as reported and an organic basis, with benefits from over 1,900 IDEXX inVue Dx placements during the quarter.

Veterinary software, services and diagnostic imaging systems revenues grew 11% on a reported and 10% on an organic basis for the quarter, with benefits from a strong quarter of diagnostic imaging systems installations, led by ImageVue^™ DR50 Plus.

Water

Water revenues grew 8% as reported and organic for the quarter, driven by growth in North America.

Livestock, Poultry and Dairy ("LPD")

LPD revenues increased 3% as reported and organic for the quarter, led by growth in the Americas.

Gross Profit and Operating Profit

Gross profit increased 12% as reported and 12% on a comparable basis. Gross margin of 62.9% increased 110 basis points as reported and 90 basis points on a comparable basis, supported by strong recurring revenue volume gains, operational productivity initiatives, and net price realization.

Operating margin was 33.1% for the quarter, higher than the prior year period by 100 basis points as reported and by 60 basis points on a comparable basis. Operating margin results reflect a 10% operating expense increase as reported and 11% growth on a comparable basis. Operating expense growth supported expansion of IDEXX's commercial capabilities and advancement of the Company's innovation agenda, while absorbing acquisition impacts, including transaction-related costs.

2026 Growth and Financial Performance Outlook

The Company is updating its full year revenue growth guidance range to $4,741 million - $4,767 million, or reported growth of 10.1% - 10.8%, an increase of $32 million at midpoint, including $5 million related to the recent CoVet acquisition. The Company is increasing its outlook for organic revenue growth to 9.3% - 10.0%, an increase of 0.6% at midpoint, reflecting operational performance.

The Company lowered its full year reported operating margin outlook to 32.1% - 32.3%, bringing the projected full year operating profit margin expansion to 50 - 70 basis points as reported and on a comparable basis. The updated guidance includes acquisition-related impacts.

The Company updated its EPS outlook range to $14.96 - $15.16, a $0.25 increase compared to prior guidance midpoint, reflecting 15% reported and 16% comparable growth.

The following table provides the Company's updated outlook for annual key financial metrics in 2026 with a comparison to the prior outlook:

Amounts in millions except per share data and percentages

The following table outlines estimates of foreign currency exchange rate impacts, net of foreign currency hedging transactions, and foreign currency exchange rate assumptions reflected in the above financial performance outlook for 2026.

Conference Call and Webcast Information

IDEXX Laboratories, Inc. will host a conference call today at 8:30 a.m. (ET) to discuss its third quarter 2026 results and management's outlook. Individuals can access a live webcast of the conference call through a link on the IDEXX website, www.idexx.com/investors. An archived edition of the webcast will be available after 1:00 p.m. (ET) via the same link and will remain available for one year. The live call also will be accessible by telephone. To listen to the live conference call, please dial 1-800-330-6730 or 1-213-279-1575 and reference passcode 715328.

2027 VMX Event

IDEXX Laboratories, Inc. will host an Investor and Analyst Session at VMX in Orlando, Florida on Monday, January 18th at 1:00 p.m. (ET), highlighting IDEXX's next point-of-care analyzer, IDEXX MultiCue Dx^™. On-site participation is limited and advance registration for the in-person event is required; institutional investors and analysts interested in attending should contact [email protected]. A live webcast and accompanying slide presentations will be available at www.idexx.com/investors. An archived webcast replay of the event will be available approximately one hour following the event via the same link.

About IDEXX Laboratories, Inc.

IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions-to advance medical care, improve efficiency, and build thriving practices. Our innovations also help measure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500^® Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit www.idexx.com.