IDEXX Laboratories (IDXX) official guidance

To estimate projected 2026 free cash flow, we have deducted projected purchases of property and equipment (also referred to as capital expenditures) of approximately $180 million.

For a full-year, we're maintaining our outlook for free cash flow conversion of 85%-95% of net income, including full-year capital spending of approximately $180 million.

| Capital Expenditures | ~ $180 | | | ~ $180 | | |

Our 2026 free cash flow outlook is for net income to free cash flow conversion ratio of 85%-95%, aligned with the long-term potential and reflects capital spending of $180 million, or approximately 4% of revenues.

| Capital Expenditures | **~ $180** | |

The Company updated its EPS outlook range to $14.69 - $14.94, reflecting increased reported growth of 12% - 14% and 13% - 15% comparable growth.

The Company updated its EPS outlook range to $14.45 - $14.90, reflecting increased reported growth of 11% - 14% and 11% - 15% comparable growth.

**Projects 2026 EPS of $14.29** - **$14.80, an increase of 9% - 13% as reported and 10% - 14% on a comparable basis.**

The Company updated its EPS outlook range to $14.69 - $14.94, reflecting increased reported growth of 12% - 14% and 13% - 15% comparable growth.

We're also updating our full-year EPS outlook to $14.45-$14.90 per share, an increase of $0.13 per share at midpoint, net of a $0.05 negative impact from a loss on an equity investment in Q1, reflecting 11%-15% comparable EPS growth.

The Company updated its EPS outlook range to $14.45 - $14.90, reflecting increased reported growth of 11% - 14% and 11% - 15% comparable growth.

Our 2026 EPS outlook is $14.29-$14.80 per share.

2026 EPS guidance of $14.29 - $14.80 reflects expectations for solid organic revenue gains and a targeted 40 - 90 basis points of reported operating margin improvement.

For a full-year, we're maintaining our outlook for free cash flow conversion of 85%-95% of net income, including full-year capital spending of approximately $180 million.

Our updated overall organic revenue growth outlook of 7.7%-9.7% includes an organic growth range of 8.7%-10.7% for CAG Diagnostics' recurring revenue, including approximately a 4% benefit of global net price realization.

At midpoint, our 2026 organic CAG Diagnostics recurring revenue growth outlook incorporates expectations for global net price realization of approximately 4%, reflecting a modestly lower net price realization than 2025.

The Company increased its full year reported operating margin outlook to 32.3% - 32.5%, bringing the projected full year operating profit margin expansion to 70 - 90 basis points as reported and on a comparable basis. This outlook benefits from strong second quarter operating performance, while advancing strategic investment priorities.

In terms of key financial metrics, we're updating our reported operating margin outlook to 32.1%-32.5% for 2026, reflecting increased expectations of 50 basis points-90 basis points of full-year comparable operating margin improvement.

The Company increased its full year reported operating margin outlook to 32.1% - 32.5%, bringing the projected full year operating profit margin expansion to 50 - 90 basis points as reported and on a comparable basis.

Our 2026 reported operating margin outlook for the full year is 32.0%-32.5%.

| **Operating Margin** | **32.0%** | **-** | **32.5%** |

The Company increased its full year reported operating margin outlook to 32.3% - 32.5%, bringing the projected full year operating profit margin expansion to 70 - 90 basis points as reported and on a comparable basis.

In terms of key financial metrics, we're updating our reported operating margin outlook to 32.1%-32.5% for 2026, reflecting increased expectations of 50 basis points-90 basis points of full-year comparable operating margin improvement.

The Company increased its full year reported operating margin outlook to 32.1% - 32.5%, bringing the projected full year operating profit margin expansion to 50 - 90 basis points as reported and on a comparable basis.

| ***Comparable operating margin expansion*** | ***30*** | ***-*** | ***80 bps*** |

**Organic growth** | ***9.5%*** | ***-*** | ***10.7%*** | ***8.7%*** | ***-*** | ***10.7%***

Raises outlook for 2026 reported revenue growth of 8.6% - 10.6% and CAG Diagnostics recurring revenue reported growth of 9.6% - 11.6%, with projected 2026 organic revenue growth of 7.7% - 9.7% and CAG Diagnostics recurring revenue organic growth of 8.7% - 10.7%.

The Company's initial 2026 revenue guidance range of $4,632 million - $4,720 million, or reported growth of 7.6% - 9.6% and 7.0% - 9.0% on an organic basis, is supported by 8.6% - 10.6% reported and 8.0% - 10.0% organic CAG Diagnostics recurring revenue growth.

The Company is increasing its outlook for organic revenue growth to 8.5% - 9.7%, an increase of 0.4% at midpoint, reflecting operational performance.

The Company is increasing its outlook for organic revenue growth to 7.7% - 9.7%, an increase of 0.7% at midpoint, reflecting the operational benefits highlighted above.

The Company's initial 2026 revenue guidance range of $4,632 million - $4,720 million, or reported growth of 7.6% - 9.6% and 7.0% - 9.0% on an organic basis, is supported by 8.6% - 10.6% reported and 8.0% - 10.0% organic CAG Diagnostics recurring revenue growth.

The Company is updating its full year revenue growth guidance range to $4,700 million - $4,745 million, or reported growth of 9.1% - 10.3%, an increase of $5 million at midpoint, net of a $15 million reduction to projected revenues from a stronger U.S. dollar.

Performance during the first quarter builds confidence to increase our full-year revenue range to between $4.675 billion-$4.76 billion, an increase of $42 million at midpoint or an outlook for overall reported revenue growth of 8.6%-10.6%.

The Company is updating its full year revenue growth guidance range to $4,675 million - $4,760 million, or reported growth of 8.6% - 10.6%, an increase of $42 million at midpoint.

We're providing initial guidance for revenue of $4.632 billion-$4.72 billion, an increase of 7.6%-9.6% on a reported basis, reflecting 7%-9% organically.

The Company's initial 2026 revenue guidance range of $4,632 million - $4,720 million, or reported growth of 7.6% - 9.6% and 7.0% - 9.0% on an organic basis, is supported by 8.6% - 10.6% reported and 8.0% - 10.0% organic CAG Diagnostics recurring revenue growth.

| Reduction in average shares outstanding | 1% | - | 2% | 1% | - | 2% |

| Reduction in average shares outstanding | *1%* | - | *2%* |

| Effective tax rate | ~ 21.4% | | | ~ 21.3% | | |

We're planning for a consistent year-to-year tax rate when excluding share-based compensation effects.

| **Free Cash Flow (% of Net Income)** | **85%** | **-** | **95%** | **85%** | **-** | **95%** |

| **Free Cash Flow (% of Net Income)** | **85% - 95%** | |