IDEXX Laboratories (NASDAQ:IDXX) presented its growth strategy at the 2026 Investor Day, revealing a $45 billion opportunity in global companion-animal testing. The company anticipates significant expansion in veterinary diagnostic testing, fueled by pets’ longevity and increased preventive care, noting that only 13% of U.S. wellness visits currently include blood work.
During the event, IDEXX introduced a quantitative proBNP cardiac test for pets on its Catalyst platform and reported over 9,000 inVue Dx cytology instruments placed globally, with utilization rates between $3,500 and $5,500 per instrument. The company’s Cancer Dx panel has been utilized by over 11,000 practices, and upcoming enhancements include the addition of canine mast cell tumor detection by September 2023 and hemangiosarcoma detection by December 2023.
CFO Andrew Emerson forecasted an operating profit margin exceeding 32% by 2026 and projected more than 10% organic revenue growth in the long term. IDEXX’s capital revenue growth is anticipated to exceed 5%, with diagnostic-related services expected to grow by over 15% annually.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
