IDEXX's Record-Breaking Year: Surging Growth and Revolutionary Pet Healthcare Innovations

For the fourth quarter of 2023, IDEXX's revenues soared to $902 million, marking a robust 9% increase from the previous year on a reported basis and 8% on an organic basis. This growth was primarily driven by the Companion Animal Group ("CAG"), which saw a 10% rise in reported revenue and a 9% increase organically. The CAG Diagnostics segment, in particular, experienced an impressive 11% growth in recurring revenue on a reported basis and 10% organically, underlining the company’s strong market presence and innovative approach.