IDEXX Laboratories Inc

IDEXX Laboratories announced the expansion of its Faecal Dx antigen testing platform in the United Kingdom to include taeniid tapeworm, covering Taenia and Echinococcus species. The company said the test is proven to detect up to twice as many intestinal parasite infections earlier than faecal flotation alone, delivering broader parasite detection in a single test for both wellness and sick-pet care. Since launching in 2012, more than 50 million Faecal Dx antigen tests have been run worldwide, and with this addition the platform now detects seven of the most clinically relevant intestinal parasite groups, including hookworm, roundworm, whipworm, flea tapeworm, taeniid tapeworms, Cystoisospora and Giardia in select panels. Taenia and Echinococcus species are recognized by the European Scientific Counsel Companion Animal Parasites as clinically important, and ESCCAP identifies Echinococcus species as one of the three key parasite groups requiring preventive control in dogs and cats due to its zoonotic risk. Current Faecal Dx antigen testing panels and profiles for IDEXX Reference Laboratories customers in the United Kingdom now include taeniid tapeworm detection at no additional cost, and results returning positive for taeniid tapeworms will automatically initiate a complimentary follow-up Echinococcus RealPCR test.

IDEXX Laboratories has acquired CoVetAI, a provider of AI-native ambient listening and clinical workflow software for veterinary practices. Financial terms of the transaction were not disclosed. CoVet helps veterinary teams automatically capture and organize information across the patient care journey, reducing documentation burden and saving clinicians' time. The company will be integrated into the IDEXX software ecosystem, which will continue to support other ambient scribe solutions and third-party integrations, and CoVet will also continue to integrate with non-IDEXX practice management systems. The deal expands the value of IDEXX's software, diagnostics, and AI offerings by making information more accessible and connected across the practice.

IDEXX Laboratories raised its 2026 earnings outlook to $14.69-$14.94 per share from $14.45-$14.90 after second-quarter earnings of $4.27 per share beat the Zacks Consensus Estimate by 8.1%. Revenues rose 10% to $1.22 billion, with Companion Animal Group Diagnostics recurring revenues up 10% organically. Operating margin expanded 140 basis points to 35%, and gross margin improved 140 basis points to 64%. The company updated 2026 revenue guidance to $4.70-$4.75 billion from $4.68-$4.76 billion, with the midpoint rising $5 million despite a projected $15-million currency headwind. U.S. same-store clinical visits declined an estimated 1.3% in the second quarter, while wellness visits fell 3.4%.

IDEXX Laboratories reported higher second-quarter 2026 revenue and earnings and slightly raised its full-year 2026 guidance for revenue, operating margin, and EPS. The company now expects revenue of US$4,700 million to US$4,745 million and EPS of US$14.69 to US$14.94. IDEXX also introduced the Catalyst proBNP Test, the first dual-species, in-clinic NT-proBNP cardiac test, expanding its connected veterinary diagnostics portfolio into the companion-animal heart disease market. The raised guidance and new test modestly support the recurring-revenue story but do not fundamentally change core drivers or risks, including pressure on U.S. vet visit volumes and pricing.

IDEXX Laboratories reported second-quarter 2026 revenue growth of approximately 10% as reported and 9% organically, driven by a 10.3% organic increase in CAG Diagnostics recurring revenue with double-digit gains in both the US and international regions. The company placed over 5,200 premium instruments, including approximately 1,600 IDEXX inVue Dx analyzers, while US same-store clinical visits declined an estimated 1.3%. Gross margin reached 64%, up roughly 120 basis points on a comparable basis, and reported operating margin hit 35% with comparable operating margin gains of 110 basis points. Earnings per share were $4.27, up 18% as reported and 15% on a comparable basis, and free cash flow was $323 million in the quarter and $557 million for the first half of 2026. IDEXX updated its full-year 2026 revenue outlook to a range of $4.7 billion to $4.745 billion and raised its EPS guidance to $14.69 to $14.94 per share.

The 180 MW Phase II portion of the Millers Branch Solar Facility in Haskell County, Texas has achieved commercial operation. The capacity was contracted through Sustainability Roundtable, Inc's Net Zero Consortium for Buyers by Cisco, Juniper Networks (now part of Hewlett Packard Enterprise), Bio-Rad Laboratories, Cadence Design Systems, IDEXX Laboratories, Inc., PTC, and a large healthcare company, which signed an aggregated virtual power purchase agreement with Southern Power Company for the renewable energy credits the project generates. Cisco serves as the anchor buyer for a 50 MW portion, Juniper Networks for 40 MW, Bio-Rad, Cadence, IDEXX, and the healthcare company each for 20 MW, and PTC for 10 MW. This Phase II follows the 200 MW Phase I that reached operation in December 2025 with Thermo Fisher Scientific as sole offtaker, and together with later phases the consortium has surpassed a gigawatt of new renewable energy development. The NZCB is now working toward its Next Gigawatt of Advanced Market Commitments, aiming to bring more than 2 GW of new clean energy online through over $1.5 billion in long-term procurements across North America, Europe, and India.

The global veterinary services market is projected to grow from 119.22 billion dollars in 2025 to 247.32 billion dollars by 2035, at a compound annual growth rate of 7.57 percent, according to a report by SNS Insider. North America held a 38.7 percent share of the market in 2025, with the United States alone valued at 52.80 billion dollars and expected to reach 104.84 billion dollars by 2035. Europe was valued at 33.74 billion dollars in 2025 and is forecast to reach 67.58 billion dollars by 2035, while Asia Pacific is expected to be the fastest-growing region with a CAGR of around 9.8 percent. The medical services segment accounted for 72 percent of revenue in 2025, and hospitals and clinics held a 48.6 percent share of the delivery channel segment. Key players include Zoetis, Mars Petcare, Boehringer Ingelheim Animal Health, and IDEXX Laboratories, with recent developments such as Zoetis opening a reference laboratory in Louisville and Mars Petcare acquiring stakes in Cerba Vet and ANTAGENE.

IDEXX Laboratories announced the expansion of its Fecal Dx antigen testing platform to include detection of taeniid tapeworm species, including Taenia and Echinococcus. The enhanced testing capability can detect up to twice as many infections earlier than fecal flotation alone. Beginning in late June, IDEXX Reference Laboratories customers in the United States and Canada will automatically receive taeniid tapeworm detection within Fecal Dx antigen testing panels and profiles at no additional cost. This upgrade follows the May 19 announcement that the company's SDMA renal biomarker will be integrated into Catalyst CLIPs, making comprehensive kidney function evaluation a standard component of the most used point-of-care chemistry profiles, also at no extra charge for U.S. and Canadian customers starting in June.