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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Total revenue $ 943,630 $ 860,546 $ 1,843,825 $ 1,697,095
Cost of Revenue:        
Cost of revenue 370,780 346,514 728,004 684,310
Gross profit 572,850 514,032 1,115,821 1,012,785
Expenses:        
Sales and marketing 140,532 130,257 288,336 262,549
General and administrative 89,669 81,488 159,770 159,437
Research and development 46,505 123,221 91,172 163,389
Income from operations 296,144 179,066 576,543 427,410
Interest expense (10,542) (8,317) (23,669) (15,313)
Interest income 327 334 743 477
Income before provision for income taxes 285,929 171,083 553,617 412,574
Provision for income taxes 61,693 39,104 115,327 86,630
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 224,236 $ 131,979 $ 438,290 $ 325,944
Earnings per Share:        
Basic (in USD per share) $ 2.70 $ 1.57 $ 5.28 $ 3.87
Diluted (in USD per share) $ 2.67 $ 1.56 $ 5.22 $ 3.82
Weighted Average Shares Outstanding:        
Basic (in shares) 83,086 83,922 83,039 84,164
Diluted (in shares) 83,983 84,858 83,980 85,222
Product revenue        
Revenue:        
Total revenue $ 540,680 $ 492,518 $ 1,046,622 $ 970,895
Cost of Revenue:        
Cost of revenue 179,999 167,323 353,609 329,394
Service revenue        
Revenue:        
Total revenue 402,950 368,028 797,203 726,200
Cost of Revenue:        
Cost of revenue $ 190,781 $ 179,191 $ 374,395 $ 354,916