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Mesa Laboratories, Inc. develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries. This segment also provides testing and laboratory services to the dental and pharmaceutical industries. Its Clinical Genomics segment offers MassARRAY, a genetic analysis tool system, and related consumables, including chips, panels, and chemical reagent solutions used by clinical labs to analyze DNA samples for inherited genetic disease testing, pharmacogenetics, oncology testing, infectious disease testing, doping and toxicology testing, and other differentiated applications for use in research. The Biopharmaceutical Development segment provides automated systems, such as Gyrolab xPand and Gyrolab xPlore hardware and software, Gyrolab Bioaffy consumable microfluidic disks, Gyrolab kits and Rexxip buffers for protein analysis; PurePep Chorus and Symphony instruments for peptide synthesis; and PurePep EasyClean products for purifying peptides. Its Calibration Solutions segment offers quality control products to measure and calibrate critical parameters in applications, such as environmental and process monitoring, dialysis, gas flow, air quality, and torque testing in medical device and pharmaceutical manufacturing, laboratory, and hospital environments. This segment's products include continuous monitoring systems, dialysate meters and consumables, data loggers, gas flow calibration and air sampling equipment, and torque testing systems under DialyGuard, ViewPoint, DataTrace, DryCal, and BGI brands. Mesa Laboratories, Inc. was incorporated in 1982 and is headquartered in Lakewood, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $241M | $42M | $-2M | $42M | -1.2% | 11.5% | - |
| 2024 | $216M | $-238M | $-254M | $42M | -174.9% | -1.3% | -27438.3% |
| 2023 | $219M | $38M | $1M | $23M | 0.2% | 18.8% | -50.3% |
| 2022 | $184M | $33M | $2M | $35M | 0.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 184.34 | 219.08 | 216.19 | 240.98 |
| Cost Of Revenue | 75.25 | 85.39 | 82.94 | 90.11 |
| Gross Profit | 109.09 | 133.69 | 133.25 | 150.87 |
| Operating Expense | 104.39 | 130.37 | 130.79 | 134.53 |
| Operating Income | 4.70 | 3.32 | 2.46 | 16.34 |
| EBITDA | 32.53 | 37.52 | -238.38 | 42.35 |
| EBIT | 7.46 | 4.38 | -269.95 | 17.82 |
| Pretax Income | 3.57 | -0.39 | -275.65 | 5.96 |
| Tax Provision | 1.70 | -1.32 | -21.40 | 7.93 |
| Net Income | 1.87 | 0.93 | -254.25 | -1.97 |
| Net Income Common Stockholders | 1.87 | 0.93 | -254.25 | -1.97 |
| Total Expenses | 179.63 | 215.76 | 213.73 | 224.64 |
| Interest Expense | 3.88 | 4.77 | 5.70 | 11.86 |
| Research And Development | 15.77 | 20.49 | 19.30 | 19.52 |
| Selling General And Administration | 88.62 | 109.88 | 111.49 | 115.02 |
| Normalized EBITDA | 32.53 | 37.52 | 36.16 | 39.46 |
| Normalized Income | 1.87 | 0.93 | -1.03 | -4.25 |
| Basic EPS | 0.36 | 0.17 | -47.20 | -0.36 |
| Diluted EPS | 0.35 | 0.17 | -47.20 | -0.36 |
| Tax Effect Of Unusual Items | 0 | 0 | -21.32 | 0.61 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.08 | 0.21 |
| Total Unusual Items | 0 | 0 | -274.53 | 2.89 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -274.53 | 2.89 |
| Net Income From Continuing Operation Net Minority Interest | 1.87 | 0.93 | -254.25 | -1.97 |
| Reconciled Depreciation | 25.07 | 33.13 | 31.57 | 24.53 |
| Reconciled Cost Of Revenue | 75.25 | 85.39 | 82.94 | 90.11 |
| Net Interest Income | -3.88 | -4.77 | -5.70 | -11.86 |
| Net Income From Continuing And Discontinued Operation | 1.87 | 0.93 | -254.25 | -1.97 |
| Total Operating Income As Reported | 4.70 | 3.32 | -272.07 | 16.34 |
| Diluted Average Shares | 5.33 | 5.36 | 5.39 | 5.42 |
| Basic Average Shares | 5.21 | 5.32 | 5.39 | 5.42 |
| Diluted NI Availto Com Stockholders | 1.87 | 0.93 | -254.25 | -1.97 |
| Net Income Including Noncontrolling Interests | 1.87 | 0.93 | -254.25 | -1.97 |
| Net Income Continuous Operations | 1.87 | 0.93 | -254.25 | -1.97 |
| Other Income Expense | 2.76 | 1.06 | -272.41 | 1.48 |
| Other Non Operating Income Expenses | 2.76 | 1.06 | 2.12 | -1.40 |
| Special Income Charges | 0 | 0 | -274.53 | 2.89 |
| Other Special Charges | 0 | 0 | 0 | -2.89 |
| Impairment Of Capital Assets | 0 | 0 | 274.53 | 0 |
| Net Non Operating Interest Income Expense | -3.88 | -4.77 | -5.70 | -11.86 |
| Interest Expense Non Operating | 3.88 | 4.77 | 5.70 | 11.86 |
| Selling And Marketing Expense | 28.31 | 37.44 | 38.62 | 41.68 |
| General And Administrative Expense | 60.31 | 72.44 | 72.87 | 73.33 |
| Other Gand A | 60.31 | 72.44 | 72.87 | 73.33 |
| Operating Revenue | 184.34 | 219.08 | 216.19 | 240.98 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Mesa Laboratories, Inc.this co. | MLAB | $529M | 147.32↑ premium | 2.83 | -1.2% | 15.82 |
| WhiteFiber, Inc. | WYFI | $584M | - | 1.21 | -5.1% | -66.69 |
| PagerDuty, Inc. | PD | $563M | 3.56 | 2.22 | 64.1% | 25.57 |
| PAR Technology Corporation | PAR | $551M | - | 0.66 | -10.2% | -21.78 |
| Grid Dynamics Holdings, Inc. | GDYN | $502M |
| 50.50 |
| 0.90 |
| 1.8% |
| 7.03 |
| International Money Express, Inc. | IMXI | $480M | 14.74 | 2.94 | 20.3% | 5.96 |
| Frequency Electronics, Inc. | FEIM | $464M | 64.62 | 7.70 | 42.6% | 54.74 |
| Paysafe Limited | PSFE | $464M | - | 0.71 | -27.9% | 7.05 |
| Consensus Cloud Solutions, Inc. | CCSI | $463M | 5.79 | 34.68 | 613.7% | 5.75 |
| Peer Median | - | 14.74 | 1.71 | 11.0% | 6.50 | |