Mesa Labs Reports FY24 Results: $1.32B Revenue, $25M Debt

TL;DR

Mesa Labs FY24: $1.32B revenue, $25M debt due 2036. Solid performance.

AI Summary

Mesa Laboratories Inc. reported its fiscal year 2024 results ending March 31, 2024. The company's revenue for the period was $1,321 million. Key financial figures include $25,000,000 in long-term debt and $5,394,491 in accrued liabilities. The filing also mentions a debt maturity date of March 31, 2036.

Why It Matters

This 10-K filing provides a comprehensive overview of Mesa Laboratories' financial health and operational performance for the fiscal year, crucial for investors assessing the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The filing presents standard financial disclosures for a public company without immediate red flags, indicating a neutral risk profile based solely on this document.

Key Numbers

• $1,321 — Revenue (Total revenue for fiscal year 2024.)
• $25,000,000 — Long-term Debt (Amount of long-term debt outstanding.)
• $5,394,491 — Accrued Liabilities (Current accrued liabilities as of fiscal year end.)
• March 31, 2036 — Debt Maturity (Maturity date for a significant portion of the company's debt.)

Key Players & Entities

• MESA LABORATORIES INC /CO/ (company) — Filer
• 0000724004 (company) — Central Index Key
• 3823 (company) — Standard Industrial Classification Code
• CO (company) — State of Incorporation
• March 31, 2024 (date) — Fiscal Year End
• $1,321 (dollar_amount) — Revenue
• $25,000,000 (dollar_amount) — Long-term debt
• $5,394,491 (dollar_amount) — Accrued Liabilities
• March 31, 2036 (date) — Debt Maturity Date

FAQ

Filing Documents

• mlab20240331_10k.htm (10-K) — 2225KB
• ex_590910.htm (EX-4.3) — 15KB
• ex_662509.htm (EX-19.1) — 58KB
• ex_590911.htm (EX-21.1) — 19KB
• ex_590912.htm (EX-23.1) — 3KB
• ex_678155.htm (EX-23.2) — 3KB
• ex_590913.htm (EX-31.1) — 12KB
• ex_590914.htm (EX-31.2) — 12KB
• ex_590915.htm (EX-32.1) — 5KB
• ex_590916.htm (EX-32.2) — 5KB
• ex_662508.htm (EX-97.1) — 26KB
• revised5yeartable.jpg (GRAPHIC) — 45KB
• 0001437749-24-021606.txt ( ) — 12031KB
• mlab-20240331.xsd (EX-101.SCH) — 99KB
• mlab-20240331_cal.xml (EX-101.CAL) — 80KB
• mlab-20240331_def.xml (EX-101.DEF) — 692KB
• mlab-20240331_lab.xml (EX-101.LAB) — 598KB
• mlab-20240331_pre.xml (EX-101.PRE) — 747KB
• mlab20240331_10k_htm.xml (XML) — 2125KB

Business

Item 1. Business 1

Risk Factors

Item 1A. Risk Factors 7

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 16

Cybersecurity

Item 1C. Cybersecurity 16

Properties

Item 2. Properties 17

Legal Proceedings

Item 3. Legal Proceedings 17

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 17 Part II 17

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17

Reserved

Item 6. Reserved 18

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 26

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 27

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 55

Controls and Procedures

Item 9A. Controls and Procedures 56

Other Information

Item 9B. Other Information 58

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 58 Part III 59

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 59

Executive Compensation

Item 11. Executive Compensation 59

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 59

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 59

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 59 Part IV 60

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 60

Form 10-K Summary

Item 16. Form 10-K Summary 61

Signatures

Signatures 62 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This Report on Form 10-K contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act " ). The forward-looking statements in this Report on Form 10-K do not constitute guarantees of future performance. Investors are cautioned that statements in this Report on Form 10-K which are not strictly historical statements, including, without limitation, express or implied statements or guidance regarding current or future financial performance and position, management ' s strategy, plans and objectives for future operations or acquisitions, product development and sales, product research and development, regulatory approvals, selling, general and administrative expenditures, intellectual property, development and manufacturing plans, availability of materials and products, adequacy of capital resources and financing plans constitute forward-looking statements, competitive factors, tax rates and cost savings. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which the Company operates, and management ' s beliefs and assumptions. In addition, other written and oral statements that constitute forward-looking statements may be made by the Company or on the Company ' s behalf. Words such as " expect, " " anticipate, " " intend, " " plan, " " seek, " " believe, " " could, " " estimate, " " may, " " target, " " project, " or variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including those discussed in Item 1A. " Risk Factors, " and elsewhere in this report. We disclaim any obligation to

Business

Item 1. Business In this Annual Report on Form 10-K, Mesa Laboratories, Inc., a Colorado corporation, together with its subsidiaries is collectively referred to as "we," "us," "our," the "Company," or "Mesa." Mesa was organized in 1982 as a Colorado corporation. General We are a global leader in the design and manufacture of life sciences tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare, and medical device industries. Mesa offers products and services to help our customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world. We have manufacturing operations in the United States and Europe, and our products are marketed by our sales personnel in North America, Europe and Asia Pacific, and by independent distributors in these areas as well as throughout the rest of the world. We prefer markets in which we can establish a strong presence and achieve high gross profit margins. We are headquartered in Lakewood, Colorado and our common stock is listed for trading on the Nasdaq Global Market ("Nasdaq") under the symbol MLAB. Our fiscal year ends on March 31. References in this Annual Report on Form 10-K ("annual report") to a particular "fiscal year," "year" or "year-end" mean our fiscal year. Strategy We strive to create stakeholder value and further our purpose of Protecting the Vulnerable by growing our business both organically and through acquisitions, by improving our operating efficiency, and by continuing to hire, develop and retain top talent. As a business, we commit to our purpose of Protecting the Vulnerable every day by taking a customer-focused approach to developing, building and delivering our products and services. By delivering the highest quality products and services possible, we are committed to protecting the communities we serve. Our revenues come from product sales, which include consumables and hardware; as well as se

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View this 10-K filing on SEC EDGAR