IDEXX Laboratories, Inc. stock research
FY2023 Q2
IDEXX Laboratories (IDXX) Gross Margin — Quarter Ended Jun 30, 2023
Revenue and gross profit both increased compared to the prior quarter and the same quarter a year ago, leading to a higher gross margin. Cost of revenue also rose but at a slower relative pace.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter a year ago, leading to a higher gross margin. Cost of revenue also rose but at a slower relative pace.
- The gross margin improvement was primarily driven by revenue growing faster than cost of revenue.
- Gross margin improved compared to the immediately preceding quarter and the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.7%
Gross profit
$572.9M
Revenue
$943.6M
Cost of revenue
$370.8M
Quarter-over-quarter change
+0.4 pts
Year-over-year change
+1.0 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% |
| Jun 30, 2023 | $943.6M | $572.9M | $370.8M | 60.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
+0.4 pts
Year-over-year change
Jun 30, 2022
+1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improvement was primarily driven by revenue growing faster than cost of revenue.
Gross margin improved compared to the immediately preceding quarter and the same quarter one year earlier.
Monitor trends in companion animal healthcare and distributor purchasing, as referenced in the company's business overview.