Mesa Laboratories is targeting a net leverage ratio of 1.5 to 1.75 times by the end of fiscal 2027, while resetting the launch of its next-generation Gyrolab platform to fiscal 2028. CEO Siddhartha Kadia said the company reprioritized its R&D portfolio to concentrate investment on this launch, and we now expect the new Gyrolab platform to launch in fiscal 2028. First-quarter revenues reached $60.1 million, with adjusted operating income up 16.5% to $15 million, or $2.61 per diluted share. The Biopharmaceutical Development segment grew 5% organically, and Kadia expects it to grow for the full year. Net leverage stood at 1.85x at quarter-end, and management reiterated a deleveraging priority while deferring full-year guidance until November.
Mesa Laboratories IncCompany targets lower leverage and resets Gyrolab launch to FY2028, with Q1 results mixed and guidance deferred.