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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, a leader in veterinary diagnostics, will participate in the Stifel Jaws & Paws Conference on June 1, 2022, at 1:50 pm (EDT). President Jay Mazelsky and CFO Brian McKeon will join a fireside chat. A live audio webcast can be accessed via IDEXX's website. Additionally, IDEXX will host its 2022 Investor Day on August 11, 2022, at its headquarters in Westbrook, Maine, from 8:00 am to 12:00 pm (EDT). More details will follow closer to the event date.
IDEXX Laboratories reported an 8% revenue growth for Q1 2022, driven by CAG Diagnostics recurring revenue growth of 8% reported and 9% organic. Strong demand resulted in a 19% reported and 22% organic growth in CAG Diagnostics capital instrument revenue. However, EPS declined by 3% as reported, while it increased 3% on a comparable basis. The company adjusted its full-year guidance, anticipating 5.5%-8% reported growth, impacted by reduced veterinary clinical visits and foreign exchange rates. Key financial metrics include an updated EPS outlook of $8.11 - $8.35.
IDEXX Laboratories, Inc. (NASDAQ: IDXX) has announced the release of its 2022 first quarter financial results, scheduled for May 4, 2022, before market opening. An analyst conference call will follow at 8:30 a.m. ET, accessible via a live webcast on the IDEXX website. The archived webcast will be available after 1:00 p.m. ET and will remain for one year. IDEXX, a leader in veterinary diagnostics and healthcare innovation, employs over 10,000 people and serves customers in over 175 countries worldwide.
IDEXX Laboratories (NASDAQ: IDXX), a leader in veterinary diagnostics, will participate in two upcoming conferences. On February 24 at 9:55 am EST, executives Tina Hunt and Brian McKeon will engage in a virtual fireside chat at the BofA Securities Animal Health Summit. Following that, on March 7 at 11:00 am EST, CEO Jay Mazelsky will present at the 43rd Annual Raymond James Institutional Investors Conference. Live webcasts and archived editions of the presentations will be accessible on the IDEXX website.
IDEXX Laboratories reported an 11% increase in fourth quarter revenue, totaling $801 million, primarily driven by a 13% growth in CAG Diagnostics recurring revenue. Full-year revenue reached $3,215 million, up 19%, with an EPS of $8.60, a 28% increase. The company anticipates 2022 revenue of $3.5-$3.565 billion and EPS of $9.27-$9.59. Despite strong overall performance, LPD segment revenue declined 20% due to prior year high testing demand. The company remains positive about growth in companion animal healthcare.
PetDx has announced a collaboration with IDEXX Laboratories to enhance access to its liquid biopsy test for canine cancer, OncoK9. This test, which allows for noninvasive cancer detection through a simple blood draw, will be available to veterinary customers in the U.S. and Canada by the end of January 2022. OncoK9 utilizes advanced genomic analysis and sequencing technology, showing promising results in clinical studies. With an estimated six million new canine cancer diagnoses annually, this collaboration aims to improve diagnostics and care for dogs suffering from cancer.
IDEXX Laboratories (NASDAQ: IDXX) announced enhancements to its products and services aimed at improving veterinary practices' efficiency amidst rising patient volumes. Key enhancements include clinical decision support for the IDEXX 4Dx® Plus Test, improvements to the VetConnect® PLUS Mobile App, advanced software for the SediVue Dx® Urine Sediment Analyzer, and a new Catalyst® SDMA Test to streamline workflows. These innovations are designed to aid veterinarians in making quicker, confident clinical decisions, reflecting IDEXX's commitment to supporting the growing demands of veterinary professionals.
IDEXX Laboratories, Inc. (NASDAQ: IDXX) announced the expansion of its reference laboratory tests to improve cancer diagnosis and treatment for veterinarians. This new offering includes a liquid biopsy test using DNA sequencing for common canine cancers, a diagnostic panel for identifying genetic mutations, and innovative diagnostic profiles for therapy management. With around 6 million new cancer diagnoses annually in dogs and cats in the U.S., IDEXX aims to support veterinarians in managing complex cancer cases more effectively.
IDEXX Laboratories (NASDAQ: IDXX) will announce its 2021 fourth quarter and full year financial results on February 2, 2022, before market opening. An analyst conference call will follow at 8:30 a.m. ET, accessible via a live webcast on the IDEXX website. This event will also be available by telephone, requiring an access code. IDEXX specializes in veterinary diagnostics and practice software, operating globally with around 9,800 employees. The company is a member of the S&P 500 Index, providing innovative solutions to veterinarians and ensuring quality in water and food safety.
IDEXX Laboratories reported a 12% revenue growth for Q3 2021, reaching $810 million. The Companion Animal Group (CAG) Diagnostics saw significant contributions with a 13% increase in recurring revenue. Earnings per share (EPS) stood at $2.03, marking a 20% growth. IDEXX updated its 2021 guidance, projecting revenue growth between 17.5% - 18% and EPS growth of 24% - 25%. CAG capital instrument revenues surged 34%. However, Livestock, Poultry, and Dairy (LPD) revenues declined 21% as compared to last year.
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