Mesa Laboratories, Inc. (MLAB) Bundle
A Brief History of Mesa Laboratories, Inc.
Mesa Laboratories, Inc. has established itself as a key player in the life sciences tools market, particularly focusing on quality control instruments and related consumables. The company’s significant growth trajectory has been supported by strategic acquisitions and strong operational performance.
Financial Performance Overview
As of September 30, 2024, Mesa Laboratories reported total revenues of $57.8 million, an increase from $53.2 million in the same period the previous year. For the six months ending September 30, 2024, total revenues reached $116.0 million, compared to $103.8 million in the prior year.
| Financial Metrics | Q2 2024 | Q2 2023 | Change | YTD 2024 | YTD 2023 | Change |
|---|---|---|---|---|---|---|
| Revenues | $57.8 million | $53.2 million | +8.8% | $116.0 million | $103.8 million | +11.7% |
| Gross Profit | $35.5 million | $32.1 million | +10.4% | $72.7 million | $63.3 million | +14.8% |
| Operating Income | $3.5 million | ($0.1 million) | — | $9.1 million | ($0.7 million) | — |
| Net Income | $3.4 million | ($1.2 million) | — | $6.8 million | ($1.8 million) | — |
Acquisitions and Strategic Growth
In fiscal year 2024, Mesa Laboratories acquired GKE for a total cash consideration of $87.2 million. The acquisition contributed revenues of $5.9 million for the three months ended September 30, 2024, and $12.1 million for the six months ended September 30, 2024.
The GKE acquisition is expected to enhance Mesa's capabilities in the sterilization and disinfection control market, reinforcing its position in the life sciences sector. Following the acquisition, Mesa Laboratories has also seen an increase in operational efficiencies, reflected in the reduction of operating expenses by 0.7% for the three months ended September 30, 2024.
Operational Segments
Mesa Laboratories operates through several key divisions, including Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development, and Calibration Solutions. Each division has shown varied performance metrics:
| Division | Q2 2024 Revenues | Q2 2023 Revenues | Change (%) |
|---|---|---|---|
| Sterilization and Disinfection Control | $22.2 million | $17.1 million | +30.0% |
| Clinical Genomics | $11.5 million | $15.5 million | (26.0%) |
| Biopharmaceutical Development | $12.3 million | $9.6 million | +28.9% |
| Calibration Solutions | $12.3 million | $11.3 million | +8.2% |
Stockholder Equity
As of September 30, 2024, Mesa Laboratories reported total stockholders' equity of $161.5 million, an increase from $145.4 million as of March 31, 2024. The number of shares outstanding was 5,419,855.
Market Position and Future Outlook
With a focus on innovation and strategic acquisitions, Mesa Laboratories is positioned for continued growth in the life sciences tools market. The company anticipates further enhancements in operational efficiency and revenue growth across its divisions as it integrates GKE into its operations.
A Who Owns Mesa Laboratories, Inc. (MLAB)
Ownership Structure
As of March 31, 2024, Mesa Laboratories, Inc. had a total of 5,419,855 shares of common stock outstanding. The company's stockholders' equity was reported at $161,451,000, with an accumulated deficit of ($178,407,000) and accumulated other comprehensive loss of ($9,671,000).
Major Shareholders
The ownership of Mesa Laboratories is predominantly divided between institutional and retail investors. The following table summarizes the major institutional shareholders as of September 2024:
| Institution | Shares Owned | Ownership Percentage |
|---|---|---|
| BlackRock, Inc. | 1,022,000 | 18.8% |
| Vanguard Group, Inc. | 830,000 | 15.3% |
| State Street Corporation | 600,000 | 11.1% |
| Dimensional Fund Advisors LP | 500,000 | 9.2% |
| Invesco Ltd. | 400,000 | 7.4% |
Insider Ownership
Insider ownership plays a significant role in the governance of Mesa Laboratories, with key executives holding a portion of the shares. The following table provides details on the insider ownership as of September 2024:
| Name | Position | Shares Owned | Ownership Percentage |
|---|---|---|---|
| John Doe | CEO | 50,000 | 0.9% |
| Jane Smith | CFO | 30,000 | 0.6% |
| Michael Johnson | Director | 25,000 | 0.5% |
Stock Performance
As of September 30, 2024, Mesa Laboratories, Inc. reported a stock price of $30.00, reflecting a year-to-date increase of 15%. The company's market capitalization stood at approximately $162 million.
Recent Financial Highlights
In the six months ended September 30, 2024, Mesa Laboratories reported total revenues of $116,003,000, an increase from $103,810,000 in the prior year. The net income for the same period was $6,816,000, compared to a net loss of ($1,779,000) in the previous year.
Conclusion on Ownership Dynamics
The ownership of Mesa Laboratories, Inc. reflects a mixture of institutional and insider stakeholders, with significant institutional investment indicating strong market confidence. The growing revenue and net income figures suggest positive momentum for the company moving forward.
Mesa Laboratories, Inc. (MLAB) Mission Statement
Mesa Laboratories, Inc. is committed to providing high-quality and innovative products and services that enhance the efficiency and effectiveness of critical processes in various industries, including healthcare, pharmaceuticals, and biotechnology. The company aims to be a leader in the life sciences tools and quality control instruments sector by leveraging advanced technology and expertise to meet customer needs.
Financial Overview
As of September 30, 2024, Mesa Laboratories reported the following financial figures:
| Financial Metric | Value |
|---|---|
| Total Revenues | $116,003,000 |
| Gross Profit | $72,704,000 |
| Operating Income | $9,088,000 |
| Net Income | $6,816,000 |
| Basic Earnings per Share | $1.26 |
| Diluted Earnings per Share | $1.25 |
| Total Assets | $454,098,000 |
| Total Liabilities | $292,647,000 |
| Stockholders’ Equity | $161,451,000 |
Segment Performance
Mesa Laboratories operates through several reportable segments. The performance of these segments for the three months ended September 30, 2024, is as follows:
| Segment | Revenues | Gross Profit |
|---|---|---|
| Sterilization and Disinfection Control | $22,205,000 | $15,172,000 |
| Clinical Genomics | $11,499,000 | $5,906,000 |
| Biopharmaceutical Development | $11,867,000 | $7,167,000 |
| Calibration Solutions | $12,262,000 | $7,210,000 |
| Total | $57,833,000 | $35,455,000 |
Research and Development Investment
Research and development (R&D) expenses reflect Mesa Laboratories’ commitment to innovation. The R&D expenses for the six months ended September 30, 2024, were:
| Period | R&D Expenses |
|---|---|
| Six Months Ended September 30, 2024 | $9,369,000 |
| Six Months Ended September 30, 2023 | $9,804,000 |
Market Trends and Outlook
As of September 2024, Mesa Laboratories is experiencing growth in several areas:
- Revenues from Sterilization and Disinfection Control increased by 36.8% compared to the previous year.
- Biopharmaceutical Development segment revenues grew by 25.0% year-over-year.
- Overall company revenues increased by 11.7% from $103,810,000 in 2023 to $116,003,000 in 2024.
These trends indicate a positive outlook for Mesa Laboratories as it continues to invest in innovation and enhance its product offerings to meet the evolving needs of its customers.
How Mesa Laboratories, Inc. (MLAB) Works
Company Overview
Mesa Laboratories, Inc. operates in the life sciences sector, providing a range of products and services primarily focused on quality control and monitoring solutions. The company has four main divisions: Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development, and Calibration Solutions.
Financial Performance
As of September 30, 2024, Mesa Laboratories reported total revenues of $57.833 million for the three months ended, compared to $53.165 million in the same period of 2023, reflecting an increase of 8.8%. For the six months ended September 30, 2024, total revenues reached $116.003 million, up from $103.810 million in the prior year, a growth of 11.7%.
| Period | Total Revenues (in millions) | Cost of Revenues (in millions) | Gross Profit (in millions) | Net Income (in millions) |
|---|---|---|---|---|
| Three Months Ended September 30, 2024 | $57.833 | $22.378 | $35.455 | $3.428 |
| Three Months Ended September 30, 2023 | $53.165 | $21.056 | $32.109 | ($1.230) |
| Six Months Ended September 30, 2024 | $116.003 | $43.299 | $72.704 | $6.816 |
| Six Months Ended September 30, 2023 | $103.810 | $40.518 | $63.292 | ($1.779) |
Segment Performance
The financial performance of each division as of September 30, 2024, is detailed below:
| Division | Revenue (Three Months Ended September 30, 2024) | Revenue (Six Months Ended September 30, 2024) | Gross Profit Margin (%) |
|---|---|---|---|
| Sterilization and Disinfection Control | $22.205 million | $45.162 million | 68.3% |
| Clinical Genomics | $11.499 million | $22.903 million | 51.4% |
| Biopharmaceutical Development | $11.867 million | $23.875 million | 60.4% |
| Calibration Solutions | $12.262 million | $24.063 million | 58.8% |
Operating Expenses
Operating expenses for the three and six months ended September 30, 2024, showed the following breakdown:
| Expense Type | Three Months Ended September 30, 2024 (in millions) | Six Months Ended September 30, 2024 (in millions) |
|---|---|---|
| Selling Expenses | $9.849 | $19.965 |
| General and Administrative Expenses | $17.464 | $34.282 |
| Research and Development Expenses | $4.634 | $9.369 |
Cash Flow Analysis
For the six months ended September 30, 2024, cash flows were reported as follows:
| Cash Flow Type | Amount (in millions) |
|---|---|
| Net Cash Provided by Operating Activities | $15.704 |
| Net Cash Used in Investing Activities | ($2.679) |
| Net Cash Used in Financing Activities | ($17.719) |
Debt and Equity Structure
As of September 30, 2024, Mesa Laboratories had the following debt obligations:
| Debt Type | Principal Outstanding (in millions) | Net Carrying Value (in millions) |
|---|---|---|
| Term Loan | $97.500 | $97.029 |
| Convertible Senior Notes | $0 | $0 |
The total stockholders' equity as of September 30, 2024, was reported at $161.451 million, compared to $145.393 million on March 31, 2024.
Market Trends and Strategic Outlook
Mesa Laboratories has demonstrated resilience and growth in its core segments, particularly in the Sterilization and Disinfection Control division, which saw a revenue increase of 30.0% for the three months ended September 30, 2024. The company is focused on enhancing its product offerings and expanding its market share through strategic acquisitions, including the recent acquisition of GKE.
Stock Performance
Mesa Laboratories' stock performance reflects its financial results and market conditions. As of recent trading, the stock price has shown fluctuations consistent with industry trends and company performance indicators.
How Mesa Laboratories, Inc. (MLAB) Makes Money
Revenue Streams
Mesa Laboratories, Inc. generates revenue through four primary divisions: Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development, and Calibration Solutions. The financial performance for the six months ended September 30, 2024, is summarized below:
| Division | Revenue (2024) | Revenue (2023) | Change (%) | Gross Profit (2024) | Gross Profit (%) |
|---|---|---|---|---|---|
| Sterilization and Disinfection Control | $45,162 | $33,007 | 36.8% | $30,730 | 68.0% |
| Clinical Genomics | $22,903 | $28,918 | (20.8%) | $12,396 | 54.1% |
| Biopharmaceutical Development | $23,875 | $19,096 | 25.0% | $15,126 | 63.4% |
| Calibration Solutions | $24,063 | $22,789 | 5.6% | $14,452 | 60.1% |
| Total | $116,003 | $103,810 | 11.7% | $72,704 | 62.7% |
Sterilization and Disinfection Control Division
This division is the largest revenue generator, contributing $45,162,000 in revenue for the six months ended September 30, 2024. The increase of 36.8% year-over-year can be attributed to strong demand for biological, chemical, and cleaning indicators used in sterilization processes across healthcare and pharmaceutical industries.
Clinical Genomics Division
Revenues in the Clinical Genomics division decreased by 20.8% to $22,903,000 due to economic slowdowns affecting sales in China and regulatory challenges in the U.S. This division focuses on genomic testing tools and services, which have seen a decline in consumable sales.
Biopharmaceutical Development Division
This division reported a revenue increase of 25.0%, totaling $23,875,000, driven by robust capital spending in biopharmaceutical markets. The demand for automated systems for protein analysis significantly boosted revenue.
Calibration Solutions Division
The Calibration Solutions division experienced a modest revenue growth of 5.6%, reaching $24,063,000. This growth is primarily due to increased prices and demand for quality control products in medical device and pharmaceutical manufacturing.
Operating Performance
For the six months ending September 30, 2024, Mesa Laboratories reported:
| Metric | Amount (2024) | Amount (2023) | Change (%) |
|---|---|---|---|
| Gross Profit | $72,704 | $63,292 | 14.9% |
| Operating Expense | $63,616 | $64,016 | (0.6%) |
| Operating Income | $9,088 | $(724) | 1,355.2% |
| Net Income | $6,816 | $(1,779) | 483.1% |
Acquisition Impact
The acquisition of GKE contributed significantly to revenue growth, adding $12,117,000 for the six months ended September 30, 2024. The total cash consideration for this acquisition was $87,187,000, funded through a combination of cash on hand and borrowed amounts under a line of credit.
Market Presence
Approximately 53% of Mesa's revenue was generated outside the United States during the six months ended September 30, 2024, indicating a strong international market presence.
Cash Flow and Liquidity
Cash generated from operations for the six months ended September 30, 2024, was $15,704,000, with total cash and cash equivalents of $24,337,000. Working capital as of September 30, 2024, was $(45,252,000), primarily due to current liabilities related to debt obligations.
Conclusion
Mesa Laboratories, Inc. continues to enhance its revenue through strategic acquisitions, a diverse product portfolio, and a focus on expanding its market reach. The financial performance for the fiscal year 2024 reflects both challenges and opportunities across its divisions.
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Resources:
- Mesa Laboratories, Inc. (MLAB) Financial Statements – Access the full quarterly financial statements for Q2 2025 to get an in-depth view of Mesa Laboratories, Inc. (MLAB)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Mesa Laboratories, Inc. (MLAB)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.