Every 10-Q that Mesa Laboratories Inc (MLAB) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MLAB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MLAB filings page.
Mesa Laboratories, Inc. reported Q1 FY2027 revenue of $60,138, up 1.0% from $59,543 a year earlier. Gross profit rose to $39,012, with gross margin improving to 64.9% from 62.0% as lower third‑party labor, supply‑chain efficiencies and favorable mix aided margins, especially in Biopharmaceutical Development and Clinical Genomics.
Operating expense fell 5.6% to $31,981, lifting operating income to $7,031 from $3,064. Net income was $2,830 versus $4,742, largely reflecting a prior‑year foreign‑currency gain that did not recur. Operating cash flow strengthened to $14,736, supporting an $8.7 million net debt reduction; cash ended at $30,695 with $77,250 outstanding on the Revolver and full covenant compliance.
Sterilization and Disinfection Control revenue declined 3.6% on shipment‑timing issues, while Biopharmaceutical Development and Calibration Solutions grew 5.0% and 7.6%, respectively; Clinical Genomics was flat with continued China softness. Mesa paid a $0.16 per‑share dividend and expects a potential partial release of its U.S. deferred tax valuation allowance within 12 months, which could lower its 35.0% effective tax rate. No material legal proceedings or control weaknesses were identified.
Mesa Laboratories delivered modest top-line growth with stronger profits for the nine months ended December 31, 2025. Revenue rose to $185.4 million from $178.8 million, while net income more than doubled to $10.8 million, lifting diluted EPS to $1.95 from $0.94.
Growth came mainly from Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions, while Clinical Genomics declined due to weaker demand in China. Gross margin stayed solid at 62.6%, and operating income improved to $15.8 million.
The company refinanced its 1.375% convertible notes, settling the $97.5 million principal at maturity using its credit facility, which now includes a $68.4 million term loan and $98.3 million drawn on the revolver. Cash was $29.0 million, with operating cash flow of $28.9 million and continued quarterly dividends of $0.16 per share. Management highlights ongoing macro headwinds in China and notes that the Clinical Genomics unit remains more sensitive to potential future goodwill impairment.
Mesa Laboratories (MLAB) reported Q2 FY2026 results with revenues of $60.7 million, up 5% year over year, and gross profit of $37.3 million (61.5% margin). Operating income rose to $4.7 million, while net income was $2.5 million and diluted EPS was $0.45, reflecting higher interest and lower non‑operating gains versus last year.
Growth was led by Biopharmaceutical Development (revenue $13.9 million, +17.3%) and Calibration Solutions (revenue $13.6 million, +10.7%). Sterilization and Disinfection Control was flat, and Clinical Genomics declined modestly as China revenue fell to $5.3 million from $7.4 million. For the first half, revenue reached $120.3 million (+3.7%) and diluted EPS was $1.30.
The company retired its 1.375% convertible notes at maturity on August 15, 2025 using its revolver and cash; no notes remain outstanding. The revolver balance was $106.0 million at quarter‑end, and an October amendment lowered the spread, reducing the borrowing rate from 7.1% to 6.7%. Cash was $20.4 million. Mesa initiated cost actions expected to reduce annualized costs by about $3.2 million, with $0.9 million to be reinvested, implying $2.3 million net savings starting in Q3; approximately $0.85 million in severance was incurred.
Mesa Laboratories (MLAB) filed its FY-26 Q1 10-Q for the quarter ended 30-Jun-2025. Net sales rose 2.4% YoY to $59.5 m, while gross margin slipped 200 bp to 62.0% as higher input and labor costs outweighed price and mix. Operating income fell 45% to $3.1 m, but a $6.1 m FX gain drove net income up 40% to $4.7 m, or diluted EPS of $0.85 (vs $0.62).
- Segment trends: Sterilization & Disinfection Control (+10.7% rev, 71.5% GM) offset declines in Biopharma Development (-4.3% rev, GM -11.4 ppt) and Clinical Genomics (-9.7% rev). Calibration Solutions grew 4.7% but margin contracted 4.4 ppt.
- Geography: U.S. sales +2.9% to $27.6 m; China -17% to $5.4 m; other regions +6.9%.
- Cash & debt: Cash fell to $21.3 m (-$6.0 m Q-to-Q) as operating cash flow shrank to $1.9 m (vs $10.7 m). Convertible notes of $97.5 m mature Aug-2025 and are now classified current; revolver balance rose to $14 m. Total leverage 1.8× EBITDA remains within covenants.
- Balance sheet: Inventories up 10.8% to $28.1 m; goodwill lifted by $6.3 m FX. Share count 5.50 m; dividend maintained at $0.16/sh (-$0.9 m cash).
- Guidance/risks: No formal outlook, but management cites tariff pressure, higher refinancing rates on revolver once notes are repaid, and segment-specific demand softness, particularly in China and BPD.
Overall, results show modest top-line expansion driven by SDC, but core profitability and cash generation weakened, and near-term refinancing risk rises as the convertible notes approach maturity.