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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 915,527 $ 841,661 $ 2,759,352 $ 2,538,756
Cost of Revenue:        
Cost of revenue 367,545 335,035 1,095,549 1,019,345
Gross profit 547,982 506,626 1,663,803 1,519,411
Expenses:        
Sales and marketing 135,698 130,021 424,034 392,570
General and administrative 89,034 83,764 248,804 243,201
Research and development 47,967 48,013 139,139 211,402
Income from operations 275,283 244,828 851,826 672,238
Interest expense (8,647) (10,998) (32,316) (26,311)
Interest income 1,255 353 1,998 830
Income before provision for income taxes 267,891 234,183 821,508 646,757
Provision for income taxes 55,660 53,245 170,987 139,875
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 212,231 $ 180,938 $ 650,521 $ 506,882
Earnings per Share:        
Basic (in USD per share) $ 2.55 $ 2.17 $ 7.83 $ 6.04
Diluted (in USD per share) $ 2.53 $ 2.15 $ 7.75 $ 5.97
Weighted Average Shares Outstanding:        
Basic (in shares) 83,097 83,247 83,058 83,855
Diluted (in shares) 83,993 84,113 83,990 84,858
Product revenue        
Revenue:        
Total revenue $ 521,489 $ 481,004 $ 1,568,111 $ 1,451,899
Cost of Revenue:        
Cost of revenue 178,527 158,554 532,136 487,948
Service revenue        
Revenue:        
Total revenue 394,038 360,657 1,191,241 1,086,857
Cost of Revenue:        
Cost of revenue $ 189,018 $ 176,481 $ 563,413 $ 531,397