08:44 AM EDT, 08/04/2025 (MT Newswires) -- IDEXX Laboratories ( IDXX ) lifted its full-year outlook on Monday as the animal diagnostics and healthcare company recorded second-quarter results above market expectations.

Per-share earnings are now set to come in between $12.40 and $12.76 for 2025, up from the prior guidance of $11.93 to $12.43. The forecast reflects annual comparable growth of 9% to 13% on a non-GAAP basis, compared with previous estimate for a gain of 8% to 12%. The consensus on FactSet is for GAAP and non-GAAP EPS of $12.21 and $12.24, respectively.

Revenue is pegged at $4.21 billion to $4.28 billion for the year, up from the prior outlook of $4.1 billion to $4.21 billion. The Street is looking for $4.15 billion. The stock spiked 15% in the most recent premarket activity.

The veterinary technology firm's comparable EPS, a non-GAAP measure, advanced to $3.50 for the June quarter from $3 the year before, topping the average analyst estimate on FactSet of $3.30. Revenue increased to $1.11 billion from $1 billion, ahead of the Street's view for $1.07 billion.

"Our innovation-driven strategy delivered robust global growth in the second quarter," Chief Executive Jay Mazelsky said in a statement. "We saw exceptional momentum with IDEXX InVue Dx placements, exceeding expectations as veterinarians adopted this slide-free technology to streamline workflows and gain faster, more accurate clinical insights."

Sales in the companion animal group division climbed 11% to $1.02 billion, led by a 15% jump in IDEXX VetLab consumables. Within the segment, reference laboratory diagnostic and consulting services revenue inclined 5.9% amid higher volume and price gains, while rapid assay products decreased 3%. Veterinary software, services and diagnostic imaging systems revenue rose 9.3%.

The water business generated revenue of $51 million, up from $46.7 million in the 2024 quarter, buoyed by double-digit international sales growth. Revenue in the livestock, poultry and dairy segment increased 4.8% to $31.8 million.

Gross margin expanded by 90 basis points to 62.6%, benefiting from IDEXX VetLab consumables revenue growth, reference labs productivity initiatives and higher prices, helping to offset the impact of inflation. Operating expenses narrowed to $321.7 million from $355.4 million in the prior-year period.