---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000670"
form_type: "8-K"
ticker: "IDXX"
cik: "0000874716"
company_name: "IDEXX LABORATORIES INC /DE"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:20:56.634553+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# IDEXX Q1 revenue $900M (+8% reported, +10% organic); EPS $2.55; raises 2023 guidance

## Summary
- Q1 revenue $900M, up 8% reported, 10% organic; CAG Diagnostics recurring revenue up 9% reported, 12% organic.
- EPS $2.55, up 12% reported, 18% comparable; includes $0.06 tax benefit and $0.11 negative FX impact.
- Raises FY2023 revenue guidance to $3,615M-$3,700M (7.5%-10%) and EPS guidance to $9.33-$9.75 (16%-22% reported).
- Record Q1 global premium instrument placements; U.S. CAG Diagnostics organic recurring revenue grew 14%, 1,350 bps premium to clinic visits.
- Operating margin 31.1%, up 150 bps reported, 210 bps comparable; gross margin 60.3%, up 70 bps reported.

## SEC filing metadata
- accession: 0001157523-23-000670
- form_type: 8-K
- ticker: IDXX
- cik: 0000874716
- company_name: IDEXX LABORATORIES INC /DE
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874716/000115752323000670/0001157523-23-000670-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874716/000115752323000670/a53391037.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000670
- JSON: https://secwatch.observer/filing/0001157523-23-000670.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000670.txt

## Key facts
- Earnings Releases
  IDEXX LABORATORIES INC /DE reported quarter ended March 31, 2023 results: revenue $900 million, EPS $2.55.
  - Period: quarter ended March 31, 2023
  - Revenue: $900 million
  - EPS: $2.55
  - Result: reported results
  source text: First Quarter Results The Company reports revenues of $900 million for the first quarter of 2023, an increase of 8% reported and 10% organic, driven by Companion Animal Group ("CAG") Diagnostics recurring revenue growth of 9% reported and 12% organic. First quarter results were supported by continued solid demand for veterinary services and benefits from strong IDEXX execution, reflected in 14% reported and organic growth in U.S. CAG Diagnostics recurring revenues and double-digit organic gains across IDEXX's major testing modalities. IDEXX innovation and commercial engagement drove record first quarter global premium instrument placements, supporting 11% annual growth in IDEXX's global premium instrument installed base. Veterinary software, services and diagnostic imaging systems revenue grew 13% as reported and 14% organically, reflecting high growth in recurring revenues and continued strong quarterly placements of cloud-based software solutions. Overall first quarter revenue gains
  evidence_url: https://www.sec.gov/Archives/edgar/data/874716/000115752323000670/0001157523-23-000670-index.htm
- Earnings Releases
  IDEXX LABORATORIES INC /DE reported full year 2023 results: revenue $3,615 million - $3,700 million, EPS $9.33 - $9.75. Guidance raised.
  - Period: full year 2023
  - Revenue: $3,615 million - $3,700 million
  - EPS: $9.33 - $9.75
  - Guidance: raised
  - Result: guidance update
  source text: Increases 2023 revenue guidance to $3,615 million - $3,700 million, reflecting 7.5% - 10% growth as reported and organically Updates 2023 EPS outlook to $9.33 - $9.75, a year-over-year increase of 16% - 22% as reported and 20% - 26% on a comparable basis, including ~12% combined growth benefit from a customer contract resolution payment in Q1 2023 and lapping of discrete 2022 R&D investments
  evidence_url: https://www.sec.gov/Archives/edgar/data/874716/000115752323000670/0001157523-23-000670-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.