IDEXX Laboratories, Inc. stock research
FY2023 Q1
IDEXX Laboratories (IDXX) Gross Margin — Quarter Ended Mar 31, 2023
Revenue increased relative to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit and gross margin improved compared with both periods.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue increased relative to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit and gross margin improved compared with both periods.
- The improvement in gross margin was associated with revenue growing at a faster rate than cost of revenue when compared with both the prior quarter and the year-ago quarter.
- Compared with the immediately preceding quarter, gross margin was higher; compared with the same quarter one year earlier, gross margin was also higher. Revenue and gross profit were higher in both comparisons.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.3%
Gross profit
$543.0M
Revenue
$900.2M
Cost of revenue
$357.2M
Quarter-over-quarter change
n/a
Year-over-year change
+0.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $900.2M | $543.0M | $357.2M | 60.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
+0.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The improvement in gross margin was associated with revenue growing at a faster rate than cost of revenue when compared with both the prior quarter and the year-ago quarter.
Compared with the immediately preceding quarter, gross margin was higher; compared with the same quarter one year earlier, gross margin was also higher. Revenue and gross profit were higher in both comparisons.
Monitor whether the relationship between revenue growth and cost growth continues to support gross margin in future quarters.