Idexx Laboratories

IDEXX Laboratories, Inc. (NASDAQ: IDXX) is the global leader in veterinary diagnostics, software, and water microbiology testing, commanding a dominant 45% market share in the veterinary diagnostics industry as of 2024. Headquartered in Westbrook, Maine, IDEXX has revolutionized companion animal healthcare through innovative diagnostic products, practice management software, and reference laboratory services that enable veterinarians to deliver superior patient care. Since its founding in 1983 by David Evans Shaw, IDEXX has grown from a startup focused on poultry disease detection to a multinational corporation generating $3.90 billion in revenue in 2024, serving over 175 countries and supporting more than 100,000 veterinary practices worldwide. The company is publicly traded on NASDAQ and has been a constituent of the S&P 500 index since its addition, reflecting its significance in the healthcare technology sector.

IDEXX operates through three strategic business segments, with the Companion Animal Group (CAG) accounting for 92% of total revenue in 2024. The CAG segment provides comprehensive diagnostic solutions including in-clinic chemistry analyzers, hematology systems, immunoassay platforms, rapid SNAP test kits, urinalysis equipment, and cloud-based practice management software. The company's integrated ecosystem connects point-of-care diagnostics with reference laboratory services and data analytics through platforms like VetConnect PLUS and the IDEXX VetLab Station, creating seamless workflows that enhance diagnostic accuracy and practice efficiency. IDEXX's Water Quality Products segment delivers microbiology testing solutions for drinking water, wastewater, and environmental applications, while the Livestock, Poultry and Dairy segment provides testing products for food and water safety, herd health monitoring, and production animal diagnostics.

IDEXX's competitive advantage stems from continuous innovation and R&D investment totaling $219.79 million in 2024. The company launched the groundbreaking IDEXX inVue Dx Cellular Analyzer in late 2024, a slide-free, real-time imaging platform using advanced optics and AI technology that eliminates traditional manual microscopy. In March 2025, IDEXX introduced IDEXX Cancer Dx, a revolutionary early detection panel for canine lymphoma available for as low as $15, addressing the critical need for affordable cancer screening in the 20 million dogs at higher risk in North America. These innovations exemplify IDEXX's commitment to AI-driven diagnostics and breakthrough technologies that improve veterinary medicine's speed, accuracy, and accessibility.

With over 10,000 employees globally and a premium instrument installed base growing 10% year-over-year in 2025, IDEXX maintains market leadership through strategic acquisitions, software integration, and exceptional customer support available 24/7 through IDEXX Smart Service. Recent acquisitions include Greenline Pet (Q1 2024), a digital coupon and rebate platform, and an $81 million software and data platform acquisition (February 2024) extending cloud-native practice management workflows. The company's 2025 guidance projects revenue of $4.055-$4.170 billion with EPS of $11.74-$12.24, reflecting confidence in sustainable growth driven by the expanding pet care market, increasing pet ownership, growing veterinary visit frequency, and rising demand for advanced diagnostics. IDEXX's mission to enhance the health and well-being of pets, people, and livestock positions it as an indispensable partner to the global veterinary community.