IDEXX Laboratories, Inc. stock research
FY2025 Q4
IDEXX Laboratories (IDXX) Gross Margin — Quarter Ended Dec 31, 2025
Revenue was stable compared to the previous quarter and higher than the same quarter a year ago. Gross profit declined relative to the prior quarter but increased year over year, resulting in a gross margin that weakened sequentially but improved annually.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue was stable compared to the previous quarter and higher than the same quarter a year ago. Gross profit declined relative to the prior quarter but increased year over year, resulting in a gross margin that weakened sequentially but improved annually.
- The sequential decline in gross margin was primarily associated with an increase in cost of revenue relative to revenue, while revenue remained flat.
- Compared to the previous quarter, gross margin was lower, reflecting higher costs. Compared to the same quarter last year, gross margin was higher, supported by revenue growth.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.3%
Gross profit
$658.1M
Revenue
$1.1B
Cost of revenue
$432.5M
Quarter-over-quarter change
-1.5 pts
Year-over-year change
+0.5 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, 2025 | $998.4M | $623.4M | $375.0M | 62.4% |
| Jun 30, 2025 | $1.1B | $694.7M | $414.7M | 62.6% |
| Sep 30, 2025 | $1.1B | $683.4M | $421.9M | 61.8% |
| Dec 31, 2025 | $1.1B | $658.1M | $432.5M | 60.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
-1.5 pts
Year-over-year change
Dec 31, 2024
+0.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The sequential decline in gross margin was primarily associated with an increase in cost of revenue relative to revenue, while revenue remained flat.
Compared to the previous quarter, gross margin was lower, reflecting higher costs. Compared to the same quarter last year, gross margin was higher, supported by revenue growth.
Monitor the trend in cost of revenue as a proportion of revenue.