IDEXX Laboratories, Inc. develops, manufactures, and distributes products and provides services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing industries. The company also provides human medical point-of-care and laboratory diagnostics. IDEXX's core business model centers around providing a comprehensive suite of diagnostic and information management solutions to veterinarians, ensuring clinically relevant data is integrated within their information management systems. The company has a strong market position in the companion animal health industry and operates in numerous geographies worldwide.

• Employees: Approximately 11,000 (as of December 31, 2023)
• Geographic Footprint: Operations in more than 175 countries
• Headquarters: Westbrook, Maine
• Founded: 1983
• Number of locations/facilities: Approximately 80 laboratories worldwide
• Revenue: $3.66 billion (FY2023)
• Key Subsidiaries/Brands: OPTI Medical Systems, Inc.

• CEO: Jonathan J. Mazelsky
• CFO: Brian P. McKeon
• Board Chair: Lawrence D. Kingsley

• Annual Revenue: $3.66 billion (FY2023)
• Net Income: $845 million (FY2023)
• Total Assets: $3.26 billion (as of December 31, 2023)
• Number of Employees: Approximately 11,000 (as of December 31, 2023)
• Key Financial Highlights: Revenue increased by 8.7% year-over-year; Gross profit increased by 9.3% year-over-year.

IDEXX's main product categories include:

• Point-of-care veterinary diagnostics: Instruments, consumables, and rapid assay test kits for in-clinic use.
• Veterinary reference laboratory diagnostics and consulting services: Commercial reference laboratory services and veterinary consultation, telemedicine, and advisory services.
• Practice management and diagnostic imaging systems: Software, hardware, and integrated services for veterinary clinics.
• Health monitoring and biological materials testing: Laboratory diagnostic instruments and services for biomedical research.
• Diagnostic and health-monitoring products for livestock, poultry, and dairy: Tests and instrumentation for animal health and food safety.
• Water testing products: Products that test water for certain microbiological contaminants.
• Point-of-care electrolytes and blood gas analyzers: Analyzers and related consumables for human medical use.

IDEXX operates primarily through three business segments:

• Companion Animal Group (CAG): Diagnostic and information management-based products and services for the companion animal veterinary industry.
• Water: Water quality products.
• Livestock, Poultry and Dairy (LPD): Diagnostic products and services for livestock and poultry health and milk quality.

IDEXX's business strategy focuses on:

• Enhancing the value of diagnostics through innovative products and services.
• Improving veterinary practice efficiency with integrated technology solutions.
• Expanding its global presence and market reach.
• Investing in research and development to drive future growth.
• Leveraging data and technology to improve patient care and outcomes.

IDEXX operates primarily in the animal health and diagnostics industry. Key market trends include:

• Increasing pet ownership and spending on pet healthcare.
• Growing demand for advanced diagnostic testing and treatment options.
• Consolidation of veterinary practices and increasing corporate ownership.
• Technological advancements in diagnostic and information management systems.
• Increasing focus on food safety and animal health in the livestock and poultry industries.

Major competitors include Mars, Incorporated brands Antech Diagnostics and Heska; and Zoetis Inc. (including its wholly-owned subsidiary Abaxis, Inc.).

• Competitive Risks: Intense competition from existing and new sector entrants in the animal health and diagnostics industry.
• Supply Chain Risks: Dependence on third-party suppliers for critical components and raw materials.
• Regulatory Risks: Compliance with complex and evolving regulations in the U.S. and internationally.
• Technological Risks: Rapid technological advancements and the need to continuously innovate to maintain a competitive edge.
• Cybersecurity Risks: Vulnerability to cyberattacks and data breaches that could disrupt operations.