IDXX$551.21▼ 4.3%U.S. vet visits fell in each of the last six quarters. IDEXX's U.S. test sales grew in all
In the latest quarter, U.S. vet visits fell an estimated 1.8%, IDEXX said on Nov. 2, and its U.S. testing sales grew 9.6%. It credits more tests per visit, new customers and higher prices.
KeyVex News··5 min readFact-checked against 9 public recordsKeyVex News··5 min readFact-checked against 9 public recordsIDXX$551.21▼ 4.3%Close, Oct. 30. Prices from Tiingo.The short versionTap to readTap to close
- A vet-test seller's sales depend on visits, tests per visit, test prices and how many clinics buy from it. IDEXX has said falling visits weigh on its growth.
- With visits down, IDEXX credits the rest: more tests per visit, new customers, and higher net prices, about 4 points of the 11% growth in its recurring test sales worldwide.
- "We can grow irrespective of that," CEO Mike Erickson said of visits on the call, per a Motley Fool transcript. His finance chief said the macro environment remains "a little bit more of a challenge."
- IDEXX raised its 2026 sales forecast but gave no new number for visits. It has not announced a date for its fourth-quarter report; it reported the last one on Feb. 2, 2026.
The quarter: IDEXX Laboratories, which sells tests, lab services and software to vets, said on Nov. 2 that U.S. vet visits fell again in the third quarter while its U.S. testing sales grew 9.6%.Remarks It raised its 2026 sales forecast in results filed at 6:30 a.m., before the market opened.8-KEDGAR Its stock's last trade on the IEX exchange at the 4 p.m. close was $671.64, about 22% above its Oct. 30 close.IEX quoteMotley Fool
The visits: IDEXX estimates that U.S. same-store clinical visits, those at practices open a year earlier, fell 1.8% from a year before.Remarks In August it had expected a second-half decline of about 1.5%, at the midpoint of its forecast.Remarks On the Nov. 2 call, finance chief Andrew Emerson said recent visit trends were "really in line with our prior guide estimates as well."Motley Fool The testing sales are what IDEXX calls U.S. recurring diagnostics revenue: supplies for its in-clinic analyzers, rapid tests and lab services.Snapshot
Why it matters: Visits have now fallen in each of IDEXX's last six quarterly reports, and its U.S. testing sales grew in every one. By its own account, the growth comes from more testing in each visit, new customers, more of its analyzers in clinics, and higher prices.Remarks "We can grow irrespective of that," chief executive Mike Erickson said of visits on the Nov. 2 call, according to a transcript posted by The Motley Fool.Motley Fool
IDEXX's stock and its last six quarterly reportsDaily close, July 1, 2025 to Oct. 30, 2026 ▲ 1.6%Show chartHide chart
- 1Aug. 4, 2025 Second-quarter 2025 results: U.S. clinical visits down 2.5%. U.S. recurring diagnostics revenue grew 6%. The stock closes up 27.5% at $682.78.
- 2Nov. 3, 2025 Third-quarter 2025 results: same-store visits down 1.2%. U.S. recurring diagnostics revenue grew 8%. The stock closes up 14.8% at $722.94.
- 3Feb. 2, 2026 Fourth-quarter 2025 results: visits down about 1.7%. Down 1.9% for all of 2025. The stock closes down 4.6% at $639.60.
- 4May 5, 2026 First-quarter 2026 results: visits down 1.0%. U.S. recurring diagnostics revenue grew nearly 11%. The stock closes at $562.97, little changed.
- 5Aug. 4, 2026 Second-quarter 2026 results: visits down 1.3%. IDEXX expects a second-half decline of about 1.5%. The stock closes up 3.6% at $588.09.
- 6Oct. 30, 2026 The last close before the third-quarter report. $551.21, 28% below the Nov. 25, 2025 close of $766.68.
View the data (337 trading days)
| Date | Close | Day change |
|---|---|---|
| 2026-10-30 | $551.21 | −4.3% |
| 2026-10-29 | $575.98 | +2.3% |
| 2026-10-28 | $562.91 | +0.3% |
| 2026-10-27 | $561.25 | −1.6% |
| 2026-10-26 | $570.21 | +1.8% |
| 2026-10-23 | $560.38 | −1.1% |
| 2026-10-22 | $566.76 | +2.4% |
| 2026-10-21 | $553.48 | −0.8% |
| 2026-10-20 | $557.93 | +0.4% |
| 2026-10-19 | $555.80 | −0.8% |
| 2026-10-16 | $560.36 | +2.4% |
| 2026-10-15 | $547.18 | +3.4% |
| 2026-10-14 | $529.01 | +1.7% |
| 2026-10-13 | $520.31 | −0.7% |
| 2026-10-12 | $523.94 | +1.1% |
| 2026-10-09 | $518.00 | +0.9% |
| 2026-10-08 | $513.14 | +1.3% |
| 2026-10-07 | $506.67 | −1.7% |
| 2026-10-06 | $515.41 | −2.2% |
| 2026-10-05 | $527.07 | +1.7% |
| 2026-10-02 | $518.39 | +0.1% |
| 2026-10-01 | $517.75 | −0.9% |
| 2026-09-30 | $522.19 | −2.1% |
| 2026-09-29 | $533.44 | +0.8% |
| 2026-09-28 | $529.06 | +1.9% |
| 2026-09-25 | $519.26 | +1.1% |
| 2026-09-24 | $513.39 | −1.7% |
| 2026-09-23 | $522.02 | +0.1% |
| 2026-09-22 | $521.50 | +1.2% |
| 2026-09-21 | $515.30 | +0.7% |
| 2026-09-18 | $511.65 | +1.0% |
| 2026-09-17 | $506.48 | −1.4% |
| 2026-09-16 | $513.62 | +0.6% |
| 2026-09-15 | $510.73 | +0.2% |
| 2026-09-14 | $509.56 | +1.0% |
| 2026-09-11 | $504.70 | −0.4% |
| 2026-09-10 | $506.53 | −1.7% |
| 2026-09-09 | $515.15 | −1.0% |
| 2026-09-08 | $520.21 | −2.8% |
| 2026-09-04 | $535.38 | +1.2% |
| 2026-09-03 | $529.29 | −1.8% |
| 2026-09-02 | $538.99 | −1.1% |
| 2026-09-01 | $545.16 | −2.1% |
| 2026-08-31 | $556.69 | +0.3% |
| 2026-08-28 | $554.99 | +1.8% |
| 2026-08-27 | $545.08 | −1.5% |
| 2026-08-26 | $553.44 | +0.6% |
| 2026-08-25 | $550.01 | −1.7% |
| 2026-08-24 | $559.51 | +0.5% |
| 2026-08-21 | $556.93 | +2.0% |
| 2026-08-20 | $545.86 | −2.9% |
| 2026-08-19 | $562.20 | +1.6% |
| 2026-08-18 | $553.32 | +1.3% |
| 2026-08-17 | $546.09 | −0.9% |
| 2026-08-14 | $550.96 | −2.8% |
| 2026-08-13 | $566.93 | −0.6% |
| 2026-08-12 | $570.58 | −2.7% |
| 2026-08-11 | $586.64 | −1.5% |
| 2026-08-10 | $595.76 | +1.5% |
| 2026-08-07 | $586.67 | −0.6% |
| 2026-08-06 | $590.00 | +0.9% |
| 2026-08-05 | $584.78 | −0.6% |
| 2026-08-04 | $588.09 | +3.6% |
| 2026-08-03 | $567.84 | +1.6% |
| 2026-07-31 | $559.07 | 0.0% |
| 2026-07-30 | $558.80 | −1.9% |
| 2026-07-29 | $569.77 | 0.0% |
| 2026-07-28 | $569.54 | +2.4% |
| 2026-07-27 | $556.20 | +2.2% |
| 2026-07-24 | $544.32 | +0.9% |
| 2026-07-23 | $539.37 | −1.0% |
| 2026-07-22 | $545.00 | −1.4% |
| 2026-07-21 | $552.46 | −2.0% |
| 2026-07-20 | $563.81 | −0.6% |
| 2026-07-17 | $567.44 | −1.5% |
| 2026-07-16 | $576.07 | +3.4% |
| 2026-07-15 | $557.02 | +3.0% |
| 2026-07-14 | $540.68 | −4.2% |
| 2026-07-13 | $564.21 | +0.1% |
| 2026-07-10 | $563.57 | +0.9% |
| 2026-07-09 | $558.60 | +0.5% |
| 2026-07-08 | $555.67 | −2.6% |
| 2026-07-07 | $570.25 | +0.9% |
| 2026-07-06 | $564.98 | +1.3% |
| 2026-07-02 | $557.80 | +3.8% |
| 2026-07-01 | $537.58 | +2.1% |
| 2026-06-30 | $526.44 | −1.8% |
| 2026-06-29 | $535.93 | −2.8% |
| 2026-06-26 | $551.50 | −0.6% |
| 2026-06-25 | $554.94 | +1.1% |
| 2026-06-24 | $549.16 | +1.5% |
| 2026-06-23 | $541.31 | −0.8% |
| 2026-06-22 | $545.73 | −2.9% |
| 2026-06-18 | $562.09 | +2.9% |
| 2026-06-17 | $546.09 | −4.7% |
| 2026-06-16 | $573.00 | +0.5% |
| 2026-06-15 | $570.00 | +1.6% |
| 2026-06-12 | $560.88 | +0.5% |
| 2026-06-11 | $557.91 | +0.2% |
| 2026-06-10 | $556.94 | −3.8% |
| 2026-06-09 | $578.89 | +3.2% |
| 2026-06-08 | $561.17 | −0.2% |
| 2026-06-05 | $562.16 | −0.5% |
| 2026-06-04 | $564.74 | +0.7% |
| 2026-06-03 | $560.73 | +1.8% |
| 2026-06-02 | $550.82 | −2.8% |
| 2026-06-01 | $566.79 | +0.6% |
| 2026-05-29 | $563.53 | −0.8% |
| 2026-05-28 | $568.03 | +3.1% |
| 2026-05-27 | $550.99 | −1.1% |
| 2026-05-26 | $557.21 | −0.4% |
| 2026-05-22 | $559.37 | +1.1% |
| 2026-05-21 | $553.07 | −0.1% |
| 2026-05-20 | $553.58 | +1.3% |
| 2026-05-19 | $546.49 | +0.1% |
| 2026-05-18 | $545.79 | +3.2% |
| 2026-05-15 | $528.79 | −0.8% |
| 2026-05-14 | $532.86 | +0.8% |
| 2026-05-13 | $528.68 | −1.0% |
| 2026-05-12 | $533.92 | +0.4% |
| 2026-05-11 | $532.00 | −5.0% |
| 2026-05-08 | $560.11 | −2.1% |
| 2026-05-07 | $572.20 | −1.2% |
| 2026-05-06 | $579.23 | +2.9% |
| 2026-05-05 | $562.97 | 0.0% |
| 2026-05-04 | $563.12 | −0.8% |
| 2026-05-01 | $567.46 | +1.2% |
| 2026-04-30 | $560.80 | +1.3% |
| 2026-04-29 | $553.66 | −2.6% |
| 2026-04-28 | $568.30 | −1.2% |
| 2026-04-27 | $574.95 | +1.6% |
| 2026-04-24 | $565.93 | +0.9% |
| 2026-04-23 | $560.93 | −3.0% |
| 2026-04-22 | $578.35 | +1.6% |
| 2026-04-21 | $569.01 | −2.4% |
| 2026-04-20 | $583.06 | −1.1% |
| 2026-04-17 | $589.25 | +3.4% |
| 2026-04-16 | $569.95 | −1.9% |
| 2026-04-15 | $580.76 | −0.6% |
| 2026-04-14 | $584.05 | +1.8% |
| 2026-04-13 | $574.00 | +2.0% |
| 2026-04-10 | $563.00 | −3.7% |
| 2026-04-09 | $584.75 | −1.2% |
| 2026-04-08 | $591.84 | +3.0% |
| 2026-04-07 | $574.80 | −0.5% |
| 2026-04-06 | $577.44 | +1.4% |
| 2026-04-02 | $569.55 | +0.9% |
| 2026-04-01 | $564.66 | +0.5% |
| 2026-03-31 | $561.89 | +0.9% |
| 2026-03-30 | $557.09 | −0.2% |
| 2026-03-27 | $558.32 | −2.6% |
| 2026-03-26 | $573.29 | −0.4% |
| 2026-03-25 | $575.72 | +1.0% |
| 2026-03-24 | $570.21 | −1.4% |
| 2026-03-23 | $578.51 | +0.2% |
| 2026-03-20 | $577.26 | −0.4% |
| 2026-03-19 | $579.85 | +0.5% |
| 2026-03-18 | $577.12 | −1.7% |
| 2026-03-17 | $586.98 | +0.1% |
| 2026-03-16 | $586.37 | +2.2% |
| 2026-03-13 | $573.82 | +0.5% |
| 2026-03-12 | $571.21 | −4.9% |
| 2026-03-11 | $600.52 | +0.3% |
| 2026-03-10 | $598.85 | −1.9% |
| 2026-03-09 | $610.45 | +0.3% |
| 2026-03-06 | $608.41 | −1.7% |
| 2026-03-05 | $618.92 | −4.6% |
| 2026-03-04 | $648.70 | +2.1% |
| 2026-03-03 | $635.54 | −0.2% |
| 2026-03-02 | $636.70 | −3.0% |
| 2026-02-27 | $656.73 | −0.6% |
| 2026-02-26 | $660.71 | +0.5% |
| 2026-02-25 | $657.38 | +1.3% |
| 2026-02-24 | $649.23 | +4.2% |
| 2026-02-23 | $623.13 | −2.0% |
| 2026-02-20 | $635.66 | +0.8% |
| 2026-02-19 | $630.73 | −0.7% |
| 2026-02-18 | $634.90 | +1.4% |
| 2026-02-17 | $626.17 | −0.5% |
| 2026-02-13 | $629.35 | +2.0% |
| 2026-02-12 | $617.20 | −4.9% |
| 2026-02-11 | $648.73 | +0.3% |
| 2026-02-10 | $646.53 | +1.1% |
| 2026-02-09 | $639.79 | −0.7% |
| 2026-02-06 | $644.61 | +0.2% |
| 2026-02-05 | $643.59 | +0.1% |
| 2026-02-04 | $642.94 | +1.6% |
| 2026-02-03 | $632.56 | −1.1% |
| 2026-02-02 | $639.60 | −4.6% |
| 2026-01-30 | $670.46 | −0.9% |
| 2026-01-29 | $676.71 | −1.6% |
| 2026-01-28 | $687.74 | −1.0% |
| 2026-01-27 | $694.75 | −0.4% |
| 2026-01-26 | $697.82 | +0.6% |
| 2026-01-23 | $693.85 | +0.4% |
| 2026-01-22 | $691.05 | −0.8% |
| 2026-01-21 | $696.46 | +1.5% |
| 2026-01-20 | $686.02 | −4.1% |
| 2026-01-16 | $715.37 | +0.5% |
| 2026-01-15 | $712.12 | +0.2% |
| 2026-01-14 | $710.48 | −0.5% |
| 2026-01-13 | $714.04 | −1.5% |
| 2026-01-12 | $724.76 | +1.6% |
| 2026-01-09 | $713.35 | +0.1% |
| 2026-01-08 | $712.39 | −0.3% |
| 2026-01-07 | $714.55 | +1.1% |
| 2026-01-06 | $706.83 | +3.6% |
| 2026-01-05 | $682.23 | +1.8% |
| 2026-01-02 | $669.99 | −1.0% |
| 2025-12-31 | $676.53 | −0.8% |
| 2025-12-30 | $682.32 | −0.8% |
| 2025-12-29 | $687.89 | −0.1% |
| 2025-12-26 | $688.48 | 0.0% |
| 2025-12-24 | $688.18 | +0.9% |
| 2025-12-23 | $682.31 | −2.8% |
| 2025-12-22 | $702.12 | +0.3% |
| 2025-12-19 | $700.34 | +0.5% |
| 2025-12-18 | $697.10 | +0.2% |
| 2025-12-17 | $695.60 | +0.3% |
| 2025-12-16 | $693.18 | −1.1% |
| 2025-12-15 | $700.55 | −0.5% |
| 2025-12-12 | $704.20 | −0.5% |
| 2025-12-11 | $707.50 | +0.8% |
| 2025-12-10 | $701.83 | +0.4% |
| 2025-12-09 | $699.06 | −1.1% |
| 2025-12-08 | $706.65 | −1.0% |
| 2025-12-05 | $714.10 | −0.5% |
| 2025-12-04 | $717.47 | −1.2% |
| 2025-12-03 | $725.93 | −0.9% |
| 2025-12-02 | $732.73 | +0.5% |
| 2025-12-01 | $728.97 | −3.2% |
| 2025-11-28 | $752.88 | −0.4% |
| 2025-11-26 | $755.96 | −1.4% |
| 2025-11-25 | $766.68 | +1.9% |
| 2025-11-24 | $752.14 | +3.6% |
| 2025-11-21 | $725.91 | +5.3% |
| 2025-11-20 | $689.35 | −1.1% |
| 2025-11-19 | $697.10 | +4.0% |
| 2025-11-18 | $670.21 | +0.2% |
| 2025-11-17 | $669.00 | −3.0% |
| 2025-11-14 | $689.93 | −1.6% |
| 2025-11-13 | $701.48 | −1.7% |
| 2025-11-12 | $713.56 | +0.2% |
| 2025-11-11 | $712.47 | +0.4% |
| 2025-11-10 | $709.59 | +0.2% |
| 2025-11-07 | $708.45 | −0.7% |
| 2025-11-06 | $713.74 | −0.9% |
| 2025-11-05 | $720.21 | −0.3% |
| 2025-11-04 | $722.12 | −0.1% |
| 2025-11-03 | $722.94 | +14.8% |
| 2025-10-31 | $629.51 | +0.2% |
| 2025-10-30 | $628.54 | +0.1% |
| 2025-10-29 | $627.66 | −1.1% |
| 2025-10-28 | $634.36 | −2.0% |
| 2025-10-27 | $647.40 | +1.0% |
| 2025-10-24 | $640.85 | +0.4% |
| 2025-10-23 | $638.60 | +0.8% |
| 2025-10-22 | $633.78 | −0.5% |
| 2025-10-21 | $637.13 | −1.0% |
| 2025-10-20 | $643.41 | +1.3% |
| 2025-10-17 | $635.40 | −0.3% |
| 2025-10-16 | $637.34 | −0.3% |
| 2025-10-15 | $639.15 | +0.4% |
| 2025-10-14 | $636.91 | +0.6% |
| 2025-10-13 | $633.32 | +2.8% |
| 2025-10-10 | $616.15 | −2.0% |
| 2025-10-09 | $628.75 | −0.2% |
| 2025-10-08 | $629.91 | +0.4% |
| 2025-10-07 | $627.28 | −0.1% |
| 2025-10-06 | $627.78 | −0.5% |
| 2025-10-03 | $631.19 | −0.4% |
| 2025-10-02 | $633.84 | +2.2% |
| 2025-10-01 | $620.11 | −2.9% |
| 2025-09-30 | $638.89 | +1.3% |
| 2025-09-29 | $630.56 | −0.3% |
| 2025-09-26 | $632.22 | +2.3% |
| 2025-09-25 | $618.17 | −1.4% |
| 2025-09-24 | $627.17 | −3.3% |
| 2025-09-23 | $648.38 | +0.7% |
| 2025-09-22 | $644.10 | −1.8% |
| 2025-09-19 | $656.16 | +0.1% |
| 2025-09-18 | $655.51 | +2.3% |
| 2025-09-17 | $640.86 | −0.7% |
| 2025-09-16 | $645.65 | +0.3% |
| 2025-09-15 | $643.99 | +0.4% |
| 2025-09-12 | $641.14 | −0.6% |
| 2025-09-11 | $645.16 | +1.1% |
| 2025-09-10 | $637.95 | −2.7% |
| 2025-09-09 | $655.60 | +0.4% |
| 2025-09-08 | $652.83 | +1.5% |
| 2025-09-05 | $642.99 | +0.4% |
| 2025-09-04 | $640.44 | +1.0% |
| 2025-09-03 | $633.95 | −0.9% |
| 2025-09-02 | $639.45 | −1.2% |
| 2025-08-29 | $647.09 | 0.0% |
| 2025-08-28 | $647.03 | +1.0% |
| 2025-08-27 | $640.86 | −0.1% |
| 2025-08-26 | $641.72 | +0.1% |
| 2025-08-25 | $641.35 | −0.7% |
| 2025-08-22 | $645.55 | +2.0% |
| 2025-08-21 | $633.05 | −1.1% |
| 2025-08-20 | $639.85 | +0.5% |
| 2025-08-19 | $636.71 | −0.2% |
| 2025-08-18 | $637.86 | −2.0% |
| 2025-08-15 | $650.84 | −0.5% |
| 2025-08-14 | $653.95 | −1.5% |
| 2025-08-13 | $663.92 | +1.8% |
| 2025-08-12 | $652.27 | 0.0% |
| 2025-08-11 | $652.11 | −0.9% |
| 2025-08-08 | $658.06 | +1.2% |
| 2025-08-07 | $650.06 | +4.1% |
| 2025-08-06 | $624.19 | −2.8% |
| 2025-08-05 | $641.94 | −6.0% |
| 2025-08-04 | $682.78 | +27.5% |
| 2025-08-01 | $535.54 | +0.2% |
| 2025-07-31 | $534.31 | −6.6% |
| 2025-07-30 | $572.09 | −0.2% |
| 2025-07-29 | $573.07 | +1.2% |
| 2025-07-28 | $566.50 | +0.2% |
| 2025-07-25 | $565.19 | +2.8% |
| 2025-07-24 | $549.97 | +1.7% |
| 2025-07-23 | $540.68 | +1.6% |
| 2025-07-22 | $532.00 | +2.1% |
| 2025-07-21 | $520.87 | +1.2% |
| 2025-07-18 | $514.61 | −0.8% |
| 2025-07-17 | $518.71 | −0.4% |
| 2025-07-16 | $520.57 | −1.2% |
| 2025-07-15 | $526.66 | −0.9% |
| 2025-07-14 | $531.42 | −0.4% |
| 2025-07-11 | $533.37 | −1.4% |
| 2025-07-10 | $541.09 | +0.1% |
| 2025-07-09 | $540.64 | +0.3% |
| 2025-07-08 | $538.84 | −1.2% |
| 2025-07-07 | $545.56 | −0.3% |
| 2025-07-03 | $547.01 | +0.8% |
| 2025-07-02 | $542.71 | 0.0% |
| 2025-07-01 | $542.65 |
The chart ends at the Oct. 30 close, the last official close in KeyVex's data when this story was written. Source: Tiingo end-of-day closes, as traded, via KeyVex.
How sales grow when visits shrink
A testing company's sales are, roughly, visits times tests per visit times the price of each test. Visits fell. The other two rose.
IDEXX said its U.S. growth "continues to be supported by greater testing frequency and intensity per visit as customers adopt our expanded menu."Remarks Prices did some of the work. Its recurring diagnostics revenue grew 11% worldwide, and about 4 points of that came from what IDEXX calls net price improvement.Remarks
IDEXX tracks the gap. Its U.S. testing sales grew about 11 percentage points faster than visits, the fourth quarter in a row above 10.Remarks
It sees room to keep going. A "substantial majority of wellness visits" still include no bloodwork, IDEXX said, which it calls a growth lever that "does not depend on visit growth."Remarks
View the data
| Quarter | U.S. clinical visits, change from a year earlier | Note |
|---|---|---|
| Q2 2025 | -2.5% | Same-store. U.S. recurring diagnostics revenue: +6% |
| Q3 2025 | -1.2% | Same-store. U.S. recurring diagnostics revenue: +8% |
| Q4 2025 | -1.7% | Same-store, about. U.S. recurring diagnostics revenue: +9% |
| Q1 2026 | -1.0% | Same-store. U.S. recurring diagnostics revenue: nearly +11% |
| Q2 2026 | -1.3% | Same-store. U.S. recurring diagnostics revenue: nearly +10% |
| Q3 2026 | -1.8% | Same-store, estimated. U.S. recurring diagnostics revenue: +9.6% |
From IDEXX's prepared remarks for each quarter. Each quarter's remarks give the U.S. same-store figure. The fourth quarter of 2025 is "~1.7%". Full-year 2025 visits fell 1.9%.Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Six reports, one pattern, different stock days
Checkups have been the soft spot. In the last three months of 2025, wellness visits fell 3.6%, against about 1.7% for all visits, IDEXX said.Remarks
The stock did not react the same way each time. It closed up 27.5% on the day of the August 2025 report and up 14.8% in November 2025. It fell 4.6% on the February 2026 report and barely moved in May.Chart data Before this report, its Oct. 30 close of $551.21 was 28% below its Nov. 25, 2025 close of $766.68, the highest in 10 years of data.Chart data
What the company and analysts said
Erickson's finance chief, Andrew Emerson, said "the macro environment continues to remain a little bit more of a challenge," and that IDEXX is paying close attention to it.Motley Fool
JPMorgan analyst Christopher Schott asked how much of the growth came from new analyzer platforms, a bigger sales force or "maybe visits just not being the proxy for sales growth."Motley Fool Stifel analyst Jonathan Block asked whether the cost of the CoVet deal would weigh on margins into the first two to three quarters of 2027.Motley Fool
Third-quarter revenue was $1,214 million, up 10%.8-K The 2026 sales forecast went up $32 million at the midpoint, including about $5 million from CoVet, a maker of AI software for vet clinics that IDEXX bought in September.8-KRemarks The operating margin forecast, the share of sales left as operating profit, went down; IDEXX said it includes the deal's effects.8-K
What IDEXX has not given is a new number for the visits ahead. Its outlook covers revenue, margins and earnings for 2026, and its remarks set no visit estimate for the fourth quarter or for 2027.8-KRemarks
What to watch
IDEXX's investor and analyst session at VMX, the next event on its investor calendar. It has not announced a date for its fourth-quarter report.IR calendar
Whether the CoVet deal's cost weighs on margins into the year, the question Stifel's Jonathan Block raised on the call.
The paper trail
IDEXX's results filing and the prepared remarks for each quarter in the visit chart, Aug. 4, 2025, through Nov. 2, 2026.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| Aug. 4, 2025 | Remarks | IDEXX | Same-store visits down 2.5%; U.S. recurring diagnostics revenue up 6%. |
| Nov. 3, 2025 | Remarks | IDEXX | Same-store visits down 1.2%; U.S. recurring diagnostics revenue up 8%. |
| Feb. 2, 2026 | Remarks | IDEXX | Visits down about 1.7% in the quarter, 1.9% for 2025; wellness visits down 3.6%. |
| May 5, 2026 | Remarks | IDEXX | Visits down 1.0%; U.S. recurring diagnostics revenue up nearly 11%. |
| Aug. 4, 2026 | Remarks | IDEXX | Visits down 1.3%; expected a second-half decline of about 1.5%. |
| Nov. 2, 6:30 a.m. | 8-K | IDEXX | Third-quarter results and the raised 2026 forecast. |
| Nov. 2, 2026 | Remarks | IDEXX | Visits down an estimated 1.8%; U.S. recurring diagnostics revenue up 9.6%. |
Sources
12 sources, 9 of them public records
Public records
- IDEXX Laboratories, Form 8-K, Exhibit 99.1: third-quarter 2026 resultsSEC EDGAR · Nov. 2, 2026
- IDEXX Laboratories, Form 8-K filing index (acceptance time)SEC EDGAR · Nov. 2, 2026
- IDEXX third-quarter 2026 earnings call prepared remarksIDEXX Laboratories · Nov. 2, 2026
- IDEXX second-quarter 2026 earnings call prepared remarksIDEXX Laboratories · Aug. 4, 2026
- IDEXX first-quarter 2026 earnings call prepared remarksIDEXX Laboratories · May 5, 2026
- IDEXX fourth-quarter 2025 earnings call prepared remarksIDEXX Laboratories · Feb. 2, 2026
- IDEXX third-quarter 2025 earnings call prepared remarksIDEXX Laboratories · Nov. 3, 2025
- IDEXX second-quarter 2025 earnings call prepared remarksIDEXX Laboratories · Aug. 4, 2025
- IDEXX Q3 2026 Earnings SnapshotIDEXX Laboratories · Nov. 2, 2026
Rules and references
- IDEXX investor relations calendarIDEXX Laboratories · Nov. 2, 2026
Reporting
- "IDEXX (IDXX) Q3 2026 Earnings Call Transcript"The Motley Fool · Nov. 2, 2026
Data
- End-of-day prices for IDXX, and SPY and QQQ on the chart (Tiingo), and the Nov. 2 IEX last tradeKeyVex · through Nov. 2, 2026
How we got these numbers
- Prices are end-of-day closes as traded. Daily moves are close to close. The chart ends at the Oct. 30 close, the last official close in KeyVex's data when this story was written; the Nov. 2 price is the last trade on the IEX exchange at the 4 p.m. close, from KeyVex's intraday quote (Tiingo), and the official consolidated close may differ slightly. The Filings switch shows a selection of KeyVex's filing markers for IDEXX, not every filing and not only those tied to this story.
- Visit figures are IDEXX's own estimates, from its prepared remarks for each quarter. Each is IDEXX's U.S. same-store figure, for visits at practices open a year earlier; the second quarter of 2025's remarks use both that term and "U.S. clinical visits" for the same 2.5%. The streak may be longer: the six quarters are the reports this story read. U.S. testing sales means IDEXX's U.S. organic CAG Diagnostics recurring revenue: supplies for its in-clinic analyzers, rapid tests, lab services and related services, excluding currency moves and acquisitions.
- "About 11 percentage points" is IDEXX's "~1,100 basis points" growth premium of U.S. recurring diagnostics revenue over U.S. visits. The 28% fall is the Oct. 30 close against the Nov. 25, 2025 close of $766.68, the highest in the chart's 10 years.
- Quotes from the call come from The Motley Fool's posted transcript, an automated transcription.