Idexx Laboratories, Inc. · NASDAQ:IDXX
Idexx Laboratories — Q1 2026 Earnings Presentation
24 slides from Idexx Laboratories's earnings presentation, May 5, 2026
Slide 1: Raymond James 47th Annual Institutional Investors Conference
CREATING CLARITY Raymond James 47th Annual Institutional Investors Conference Jay Mazelsky President and Chief Executive Officer IDEXX Laboratories, Inc. March 2, 2026 © 2026 IDEXX Laboratories, Inc. All rights reserved.
Slide 2: Safe Harbor Disclaimer
Safe Harbor Disclaimer Forward-Looking Statements The following presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are based on management’s current expectations and beliefs, as well as certai
Slide 3: Innovation-driven Growth
Innovation-driven Growth + Significant global testing opportunity that drives veterinary medical services ($45B+ TAM) + Innovation-driven growth strategy + Multiple new-to-the-world platforms in both Point of Care, and disease states like oncology + Leveraging installed base with menu extensions and
Slide 4: Integrated Solution Set Delivers Exceptional Customer Value
Integrated Solution Set Delivers Exceptional Customer Value 0 Electronic Medical Records Metrics and Insights Pet Owner Engagement Clinical Workflow Software, Data & AI Enablement © 2026 IDEXX Laboratories, Inc. All rights reserved. 4
Slide 5: Significant Global Expansion of CAG Dx Recurring Revenues
Significant Global Expansion of CAG Dx Recurring Revenues CAG Diagnostics Recurring Organic Revenue CAGRs1 Organic Revenue CAGR1 ($ Billions) 2015 – 2020 2020 – 2025 10% International 15% 12% 13% U.S. 12% 10% 1 Non-GAAP financial measure, please refer to Appendix for descriptive footnotes. © 2026 ID
Slide 6: Commercial Expansions & Innovation Driving International Growth
Commercial Expansions & Innovation Driving International Growth International CAG Diagnostics Recurring Revenue International Premium Instrument Installed Base* and Organic Growth CAGRs1 ($B) $1.2B 12% IDEXX CAGR inVue Dx 13% CAGR Urinalysis $0.7B Hematology Chemistry *All figures are rounded. Premi
Slide 7: IDEXX U.S. Growth has Outpaced Sector Growth
IDEXX U.S. Growth has Outpaced Sector Growth IDEXX U.S. CAG Dx Recurring Revenue Organic Growth and U.S. Sector Revenue Growth per Practice (2020 – 2025 CAGR) Clinical +0.3% IDEXX U.S. CAG Dx Total Visits Total Revenue Clinical Revenue Diagnostics Revenue Recurring Revenue Per Practice Per Practice
Slide 8: Pets are Living Appreciably Longer – Benefiting Diagnostics
Pets are Living Appreciably Longer – Benefiting Diagnostics + 22% increase Average Patient Lifespan 2010 – 2024* in lifetime diagnostic spend per patient** 14.4 +2.2 years 13.4 18% 12.3 +1.8 years 11.6 16% * Based on an analysis of IDEXX Practice Intelligence data from 2 million canine and feline pa
Slide 9: Diagnostic Spend Rises with Age – Significant Headroom to Grow
Diagnostic Spend Rises with Age – Significant Headroom to Grow Top Third of Practices Use ~1.5X More Diagnostics Than the Peer Average U.S. Average Annual Practice Diagnostic Revenue Per Active Patient by Age Segment* Top Third of Practices, based on clinical bloodwork usage** All U.S. Practices Pup
Slide 10: Step-up in Pet Population Creates More Care Opportunities
Step-up in Pet Population Creates More Care Opportunities U.S. Pet Population and Annual Growth* ~3% CAGR ~12% ~0% ~1% ~1% historical growth Pandemic period ~12% growth Long-term outlook ~1% growth *Estimated U.S. pet population growth of based primarily on modeling of dog and cat population growth
Slide 11: Expanding Investment Drives Accelerated Pace of Innovation
Expanding Investment Drives Accelerated Pace of Innovation IDEXX Cumulative R&D Investment Areas of Expertise > $2.4 Billion Instrument Platforms $1.2B (4+ years) Differentiated Assays $1.2B (7 years) $1.2B Software, Data, AI (20 years) and Connectivity © 2026 IDEXX Laboratories, Inc. All rights res
Slide 12: Innovation Focus Aligned with Significant Testing Opportunities
Innovation Focus Aligned with Significant Testing Opportunities >$1B ~$3.5B ~$4B ~$2.5B Opportunity* Opportunity* Opportunity* Opportunity* Vector-Borne Disease Parasitology Renal Oncology Fecal Antigen Testing Testing for Kidney Impairment Testing for Early Onset of Cancer Screening Tests for More
Slide 13: Transforming Real-time Insights at the Point of Care
Transforming Real-time Insights at the Point of Care 2014 2016 2020 2024 Future IDEXX SmartService IDEXX IDEXX Catalyst One SediVue Dx ProCyte One inVue Dx MultiCue Dx Technology Trusted Accuracy Load and Go End-to-End Integration for Life Reference lab quality Low effort sample prep Optimized workf
Slide 14: IDEXX inVue Dx Advances Large Cytology Categories
IDEXX inVue Dx Advances Large Cytology Categories Future Launched Menu Opportunity Ear Blood Fine Needle Cytology Morphology Aspirates ~50M 100M+ Launched menu cytologies Other in-clinic cytologies done annually* done annually** *FNA, blood morphology, and ear cytology annual estimate based on analy
Slide 15: Platform Extensibility Key to Economic Value Expansion
Platform Extensibility Key to Economic Value Expansion IDEXX Instrument Economic Value (EV)* Menu Expansion 2.5x Future Expansion Expansion** + New Menu + Utilization + New Menu + Utilization Launch Menu Near-term EV + Ear Cytology + Blood Morphology + FNA ‘Lumps and Bumps’ Catalyst IDEXX inVue Dx *
Slide 16: Long Runway to Expand Premium Installed Base Over 3X
Long Runway to Expand Premium Installed Base Over 3X Global IDEXX Premium Instrument Global Incremental IDEXX Premium Instrument Installed Base* Placement Opportunity** 90k ~387k 84k 64k ~6,400 International IDEXX inVue Dx 83k 165k Urinalysis Hematology 66k U.S. Chemistry 2025 Total Catalyst ProCyte
Slide 17: IDEXX Cancer Dx: High Performance Oncology Platform
IDEXX Cancer Dx: High Performance Oncology Platform Canine Lymphoma Mast Cell Tumors + 79% sensitivity & 99%+ specificity + Joins the panel at no additional cost mid-year + B-cell versus T-cell phenotyping 2026 and with no change to sample requirements or workflow + Detects lymphoma signal up to 8 m
Slide 18: Addition of Cancer Screening Will Inspire Broader Dx Inclusion
Addition of Cancer Screening Will Inspire Broader Dx Inclusion Preventive Healthcare Today… …and with the next chapter Physical Complete Examination Vector Blood Count Borne Disease Diagnostic Cancer Testing Screening Clinical Fecal History Testing Chemistry, Electrolytes, SDMA Current Dx inclusion
Slide 19: Pet Parents, Veterinarians Want Early Cancer Detection
Pet Parents, Veterinarians Want Early Cancer Detection Likelihood to Include Cancer in Wellness Screening Veterinarians Veterinarians are likely to add cancer screening to wellness protocols 60% - 85% of pet parents are Pet Parents likely to say yes to cancer screening % of veterinarians ‘very’ or ‘
Slide 20: Comprehensive Software Platform for Animal Health
Comprehensive Software Platform for Animal Health Vello by IDEXX PLUS including VetConnect Practice Info Systems Pet-owner Engagement Payments & Financing IDEXX DecisionIQ SOAP Notes Personalization Decision Support Personalized Financing AI Enabled © 2026 IDEXX Laboratories, Inc. All rights reserve
Slide 21: Investing in Commercial Capability to Develop Global Opportunity
Investing in Commercial Capability to Develop Global Opportunity 2021 - 2024 2025 Germany France Brazil Italy United States Germany ~1/3 Increase to Field-based Resources in UK, Germany, and Australia Spain South Korea Japan United States United Kingdom Australia Sales Operations Global Commercial S
Slide 22: Innovation-driven Growth Supports Long-term Financial Potential
Innovation-driven Growth Supports Long-term Financial Potential Long-term Financial Model* (Average Annual Comparable Gains) Revenue Operating Capital Growth Margin Allocation Long-term Expansion Leverage EPS Growth Potential** 10%+ 50-100 1%-2% bps Incremental EPS Growth 15%+ *Long-term financial m
Slide 23: Appendix
CREATING CLARITY Appendix
Slide 24: Footnotes
Footnotes 1 Organic Revenue Growth and CAGR: Organic revenue growth and CAGR are non-GAAP financial measures and represent the percentage change in revenue for a measurement period, as compared to the prior year period(s), excluding the impact of changes in foreign currency exchange rates, certain b