Idexx Launch of InVue Provides Path to Recurring Revenue

Idexx Laboratories has steadily increased its scale and reach in the veterinary diagnostic lab business to dig a wide moat. It is well-positioned to benefit from two key trends. First, pet ownership has grown, offering a secular tailwind since the late 1980s. Moreover, pet owners have generally demonstrated greater willingness to spend more on their animals, having more than tripled spending on pet products and services since 1994.