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IDEXX Laboratories, Inc. (NASDAQ: IDXX) is a global leader in pet healthcare innovation, providing a broad range of diagnostic and information technology-based products and services to practicing veterinarians across the globe. Headquartered in Southern Maine, the company operates through more than 70 locations worldwide, serving customers in over 175 countries and employing more than 11,000 people.
IDEXX’s primary business focuses on pet health, offering products such as in-clinic diagnostic tests, instrumentation, reference laboratory and telemedicine consultation services, and practice management software. These products enhance veterinarians' ability to provide advanced medical care, improve staff efficiency, and build more economically successful practices. The company is also involved in developing diagnostic tests for the global production animal industry, including poultry and livestock, and tests for the quality and safety of water.
An important recent achievement for IDEXX is the launch of the SNAP® Leish 4Dx® Test, designed to diagnose vector-borne diseases like canine leishmaniosis in regions where these diseases are endemic. This new test will be available in Europe and Asia starting February 2024. Another significant accomplishment is the expansion of the Fecal Dx® antigen testing platform, which includes the addition of Cystoisospora, a common intestinal parasite. This expansion will roll out in North America in March 2024 and globally by the third quarter of 2024.
IDEXX also launched Vello, a software solution aimed at improving communication between veterinary practices and pet owners. This tool supports better health outcomes by engaging pet owners through digital means and is integrated with IDEXX's existing practice management software like ezyVet®, Neo®, and Cornerstone®.
Financially, IDEXX is robust, with a diverse revenue stream sourced from various products and services, including diagnostic equipment, tests, and software solutions. Approximately 35% of its revenue comes from international markets. The company is a member of the S&P 500® Index, highlighting its significant role in the industry.
For more information about IDEXX’s products and services, visit idexx.com.
IDEXX Laboratories has launched the Catalyst Pancreatic Lipase Test, designed for rapid detection of pancreatitis in cats and dogs.
The test provides quantitative results in under 10 minutes and will be available in the U.S. and Canada by September, followed by a global rollout in Q4 2024.
The test is part of IDEXX's Catalyst platform, which aims to enhance diagnostic capabilities for veterinarians worldwide. The Catalyst SmartQC Control, a new quality control system that is 90% faster than current methods, will also be launched in Q4 2024.
Both innovations aim to streamline diagnostic workflows and improve patient outcomes.
IDEXX Laboratories (NASDAQ: IDXX) announced that Brian McKeon, EVP & CFO, and Michael Lane, EVP & GM of Reference Laboratories and IT, will participate in a fireside chat at the Stifel Jaws & Paws Conference on May 29, 2024, from 10:55 am to 11:25 am (EDT). A live audio webcast will be available on IDEXX's website, with an archived edition accessible later.
The company also announced its 2024 Investor Day on August 15, 2024, at its headquarters in Westbrook, Maine, from 8:00 am to 12:00 pm (EDT). The event will be webcast live, with advance registration required for in-person attendance by institutional investors and analysts.
IDEXX Laboratories, a global leader in pet healthcare innovation, announced first quarter results with revenue growth of 7% supported by CAG Diagnostics recurring revenue growth of 7%. The company achieved EPS of $2.81 and updated its 2024 revenue guidance to $3,895 million - $3,965 million, and EPS outlook to $10.82 - $11.20.
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