IDEXX Laboratories (IDXX) investor relations material

Strategic vision and sector opportunity

• Focus on innovation-driven growth in diagnostics, software, and AI to capture a $45B+ global testing opportunity in companion animal health.

• Sector tailwinds include expanding, aging pet populations, increased medicalization, and strong pet-owner commitment across generations.

• Diagnostics adoption is rising, with significant headroom for growth, especially in wellness blood work inclusion and international markets.

• Breed mix is shifting toward higher-care breeds and longer lifespans, increasing annual spend and diagnostic needs.

• Pet healthcare spending remains resilient across income segments and economic cycles, supporting durable long-term growth.

Innovation and product development

• Multi-decade R&D investment exceeding $2.5B has created a full-stack innovation engine spanning biomarkers, instruments, software, and AI.

• Recent launches include inVue Dx for cytology, IDEXX MultiCue Dx, and Catalyst proBNP for cardiac diagnostics, with Cancer Dx expanding to a multi-cancer panel at no extra cost.

• Expansion of diagnostic categories such as oncology, cardiac, renal, and parasitology, with innovation contributing over 2% to recurring revenue growth.

• Technology for Life approach enables continuous menu expansion and platform extensibility, driving recurring revenue.

• Integrated software and AI solutions streamline workflows, enhance diagnostic accuracy, and support clinical decision-making.

Commercial execution and customer partnership

• Commercial model emphasizes high customer proximity, partnership, education, and workflow integration to drive adoption of innovation.

• Global expansion continues with investments in Spain, France, South Korea, and Canada, leveraging a proven playbook and deep customer partnerships.

• Integrated solutions across point-of-care and reference labs increase customer loyalty, with 97%+ retention and high Net Promoter Scores.

• Training, workflow simplification, and digital engagement solutions are key to supporting large-scale adoption in multi-site networks.

• Customer feedback highlights the importance of standardization with flexibility, partnership-led growth, and the value of wellness plans in driving preventive care.