IDEXX Laboratories, Inc. stock research
FY2025 Q1
IDEXX Laboratories (IDXX) Gross Margin — Quarter Ended Mar 31, 2025
Revenue, gross profit, and gross margin all increased compared to both the prior quarter and the same quarter last year. Cost of revenue decreased sequentially but was slightly higher year over year.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue, gross profit, and gross margin all increased compared to both the prior quarter and the same quarter last year. Cost of revenue decreased sequentially but was slightly higher year over year.
- The sequential improvement in gross margin was driven by a higher revenue base combined with a reduction in cost of revenue. Year over year, revenue growth outpaced the modest increase in cost of revenue, supporting margin expansion.
- Gross margin improved compared to both the immediately preceding quarter and the same quarter one year earlier, reflecting a stronger relationship between revenue and cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
62.4%
Gross profit
$623.4M
Revenue
$998.4M
Cost of revenue
$375.0M
Quarter-over-quarter change
+2.6 pts
Year-over-year change
+0.9 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 |
|---|---|---|---|---|
| Jun 30, 2024 | $1.0B | $619.2M | $384.4M | 61.7% |
| Sep 30, 2024 | $975.5M | $596.0M | $379.5M | 61.1% |
| Dec 31, 2024 | $954.3M | $570.7M | $383.6M | 59.8% |
| Mar 31, 2025 | $998.4M | $623.4M | $375.0M | 62.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
+2.6 pts
Year-over-year change
Mar 31, 2024
+0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The sequential improvement in gross margin was driven by a higher revenue base combined with a reduction in cost of revenue. Year over year, revenue growth outpaced the modest increase in cost of revenue, supporting margin expansion.
Gross margin improved compared to both the immediately preceding quarter and the same quarter one year earlier, reflecting a stronger relationship between revenue and cost of revenue.
Monitor the trend in cost of revenue, as it declined sequentially but increased year over year.