Slide 1: Investor Relations Presentation
Investor Relations Presentation May 27, 2026 Siddhartha Kadia, President and CEO John Sakys, CFO
Slide 2: Safe Harbor Statement
Safe Harbor Statement The information provided in this presentation contains forward-looking statements within the meaning of the federal securities laws. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, including statements r
Slide 3: Life Science Tools for mission critical quality control
Life Science Tools for mission critical quality control in regulated markets Our purpose is to Protect the Vulnerable. 3
Slide 4: About Mesa Labs
About Mesa labs Mesa Laboratories, Inc. (NASDAQ:MLAB), is a global leader in the design and manufacture of life science tools and critical quality control solutions. Fiscal 2026 Revenue • Leading diversified biopharma tools and solutions Sterilization & Clinical provider Disinfection Genomics Contro
Slide 5: Life Science Tools for Quality Control
Life Science Tools for Quality Control FY26 Revenues ∆ Organic Revenues CAGR FY17 vs FY23-FY26 CAGR $249M ~1% to ~3.0% Diversified Life Sciences Tools company in highly regulated markets Accelerating core organic revenues growth via strong commercial execution as overall LST market slows 5-year Reve
Slide 6: Long Term Financial Performance
Long Term Financial Performance Revenues AOI AOI excluding unusual items $300 $70 $60 AOI & AOI ex unusual items ($M) $250 $50 Revenues ($M) $200 $40 $150 $30 $100 $20 $50 $10 $0 $0 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Long history of compounding financial returns: 2016-26 CAGR = 1
Slide 7: Divisions & Solutions (Growth drivers, headwinds, tailwinds)
Divisions & Solutions (Growth drivers, headwinds, tailwinds) Clinical Genomics $45.4M / MSD* Biopharmaceutical Development - $48.6M / HSD* Genomics Proteins • HSD growth ex-China for FY26 • Accelerating IAS demand in China • China continues to contract due to regulatory • Strong demand for GLP-1’s d
Slide 8: Biopharma Driven Application Examples
Biopharma Driven Application Examples Biopharmaceutical Sterilization & Key: Clinical Genomics Development Calibration Solutions Disinfection Control Development Bioprocessing / Manufacturing Healthcare Services PK/PD/Tox PGx PGx* Patients Immunogenicity DPYD* Affinity Biomarkers Titer Contract Stud
Slide 9: Preclinical Development to Personalized Medicine
Preclinical Development to Personalized Medicine PHARMACOKINETICS (PK) IMMUNOGENICITY What does the body do to the How does the immune system drug? respond to the drug? Drug absorption, distribution, Immune system impact on metabolism, and excretion safety, efficacy, and side effects PHARMACODYNAMIC
Slide 10: Vertical Market Exposure
Vertical Market Exposure $103M $249M 100% Food, Other Long Term Growth Drivers Food, Other 80% Heathcare Services Percentage of FY25 Revenue Heathcare Services • Discoveries linking genotype to phenotype 60% Clinical Genomics • Greater adoption of proactive screening • Adoption outside the USA • Inc
Slide 11: Diversified Revenue Mix
Diversified Revenue Mix Examples 100% Food, Other CAPEX HW Equipment / Dialysis Process Validation Calibration OPEX Hardware* Data Loggers 80% Meters Percentage of FY25 Revenue Healthcare Services Service Centralized Field 60% Clinical Genomics Service Service 40% Medical Device Biologic & Chemical
Slide 12: Protecting the Vulnerable / The Mesa Way
Protecting the Vulnerable TIlE OUR OUR + Measure what matters + Drive a customer focused strategy + Focused + Proactive + Empower teams + Measure at point of impact + Curious + Collaborative + Sustainably improve + Stretch for improvement +Courageous + Humble + Always learn + Problem solve + Experim
Slide 13: M&A Example: GKE
M&A Example: GKE Chemical Indicators Medical instrument sterility assurance Medical Procedure Sterile Storage Initial Wash Chemical Indicators Cleaning Indicators Proof of sterilization and data tracking Routine monitoring of validated instrument wash cycles Broad indicator portfolio focused on heal
Slide 14: M&A Example: GKE Strategic Rationale
M&A Example: GKE Strategic Rationale Complementary Strength in chemical indicators complementing Projected* Actual* Products Mesa’s strength in biologic indicators which are used in the same sterility validation workflows Revenues Revenues $21M-$22M $24.4M Complementary Deep healthcare focused comme
Slide 15: Future
Future • Strong long term organic growth in high quality verticals • Penetrating new applications in advanced therapeutics, applications complimentary to NGS and niche sterility solutions • Expanding geographically with a focus on leveraging APAC team • Strong commercial execution by leveraging The
Slide 16: Appendix
16 Appendix MesaLabs
Slide 17: Financial Details – Fiscal Year
Financial Details – Fiscal Year FY26 FY25 FY24 FY23 FY22 (Dollars in Thousands) Revenues $249,130 $240,978 $216,187 $219,080 $184,335 (% YoY) 3.4% 11.5% (1.3)% 18.8% 37.6% Sterilization and Disinfection Control (Organic % YoY) 8.7% 4.7% 1.9% 9.4% 11.2% Calibration Solutions (Organic % YoY) 3.5% 8.3%
Slide 18: Financial Details – Fiscal Year
Financial Details – Fiscal Year FY26 FY25 FY24 FY23 (Dollars in Thousands) Revenues $249,130 $240,978 $216,187 $219,080 (% YoY) 3.4% 11.5% (1.3)% 18.8% Sterilization and Disinfection Control (Core Organic* % YoY) 4.7% 5.2% 0.6% 12.2% Calibration Solutions (Core Organic* % YoY) 3.5% 8.3% 6.6% (4.1)%
Slide 19: Reconciliation of Non-GAAP Measures – AOI ex Unusual Items
Reconciliation of Non-GAAP Measures – AOI ex Unusual Items (Dollars in Thousands) FY26 FY25 FY24 FY23 FY22 Operating Income (loss) $18,511 $16,336 $(272,075) $3,320 $4,702 Amortization of intangible assets 18,017 19,145 27,341 28,821 21,806 Stock-based compensation expense 17,868 13,142 11,936 12,53
Slide 20: Reconciliation of Non-GAAP Measures – Core Revenues Growth
Reconciliation of Non-GAAP Measures – Core Revenues Growth (Dollars in Thousands) FY26 FY25 FY24 FY23 FY22 Total Revenues Growth 3.4% 11.5% (1.3)% 18.8% 37.6% Impact of acquisitions --% (6.9)% (4.3)% (18.2)% (24.5)% Organic Revenues Growth (reportable segments)* 3.4% 4.6% (5.6)% 0.6% 13.1% Currency