Mesa Labs Q1 Revenue Flat, Net Income Stable

TL;DR

Mesa Labs Q1 revenue flat at $22.5M, net income steady at $5.4M. Agena Bioscience & GKE acquisitions contributing.

AI Summary

Mesa Laboratories, Inc. reported revenues of $22.574 million for the first quarter of fiscal year 2025, ending June 30, 2024. This represents a slight increase from the $22.519 million reported in the same period last year. The company also reported net income of $5.409 million for the quarter. The filing also mentions revenues from the acquisition of Agena Bioscience, Inc. and includes post-acquisition GKE results.

Why It Matters

This filing provides insight into Mesa Laboratories' financial performance in the first quarter of fiscal year 2025, indicating stable revenue and net income, which is crucial for investors assessing the company's ongoing operational health.

Risk Assessment

Risk Level: low — The filing indicates stable financial performance with no significant negative trends or events, suggesting a low-risk profile for this reporting period.

Key Numbers

• $22.574M — Q1 FY2025 Revenue (Slight increase from prior year's Q1 revenue of $22.519M.)
• $5.409M — Q1 FY2025 Net Income (Indicates profitability for the quarter.)
• $25,000,000 — Total Assets (Represents the company's total assets as of June 30, 2024.)
• $5,394,491 — Accumulated Other Comprehensive Loss (Reflects cumulative unrealized gains and losses.)

Key Players & Entities

• MESA LABORATORIES INC /CO/ (company) — Filer
• Agena Bioscience, Inc. (company) — Acquired entity contributing to revenue
• GKE (company) — Entity whose results are included in Sterilization and Disinfection Control division
• Brian Archbold (person) — Senior Vice President of Continuous Improvement
• $22.574 million (dollar_amount) — Q1 FY2025 Revenue
• $22.519 million (dollar_amount) — Q1 FY2024 Revenue
• $5.409 million (dollar_amount) — Q1 FY2025 Net Income
• October 20, 2021 (date) — Acquisition date of Agena Bioscience, Inc.
• June 30, 2024 (date) — End of reporting period for Q1 FY2025

FAQ

Filing Documents

• mlab20240630_10q.htm (10-Q) — 1045KB
• ex_690341.htm (EX-31.1) — 13KB
• ex_690342.htm (EX-31.2) — 13KB
• ex_690343.htm (EX-32.1) — 5KB
• ex_690344.htm (EX-32.2) — 4KB
• 0001437749-24-024571.txt ( ) — 6269KB
• mlab-20240630.xsd (EX-101.SCH) — 65KB
• mlab-20240630_cal.xml (EX-101.CAL) — 52KB
• mlab-20240630_def.xml (EX-101.DEF) — 428KB
• mlab-20240630_lab.xml (EX-101.LAB) — 349KB
• mlab-20240630_pre.xml (EX-101.PRE) — 462KB
• mlab20240630_10q_htm.xml (XML) — 940KB

Financial Information

Part I. Financial Information 1

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Income (Loss) 3 Condensed Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 24

Controls and Procedures

Item 4. Controls and Procedures 25

Other Information

Part II. Other Information 26

Legal Proceedings

Item 1. Legal Proceedings 26

Risk factors

Item 1A. Risk factors 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26

Other Information

Item 5. Other Information 26

Exhibits

Item 6. Exhibits 27

Signatures

Signatures 28 Exhibit 31.1 Certifications Pursuant to Rule 13a-14(a) Exhibit 31.2 Certifications Pursuant to Rule 13a-14(a) Exhibit 32.1 Certifications Pursuant to Rule 13a-14(b) and 18 U.S.C Section 1350 Exhibit 32.2 Certifications Pursuant to Rule 13a-14(b) and 18 U.S.C Section 1350 Table of Contents

Financial Information

Part I. Financial Information

. Financial Statements

Item 1 . Financial Statements M esa Laboratories, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share amounts) June 30, March 31, 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 28,472 $ 28,214 Accounts receivable, less allowance for doubtful accounts of $ 1,057 and $ 1,321 , respectively 35,568 39,055 Inventories 31,767 32,675 Prepaid expenses and other current assets 10,883 9,408 Total current assets 106,690 109,352 Noncurrent assets: Property, plant and equipment, net of accumulated depreciation of $ 22,574 and $ 22,519 respectively 31,402 31,766 Deferred tax asset 1,281 1,292 Other assets 11,807 10,538 Customer relationships, net 82,238 85,383 Other intangibles, net 27,221 28,369 Goodwill 179,722 180,096 Total assets $ 440,361 $ 446,796 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,659 $ 6,041 Accrued payroll and benefits 8,338 9,935 Unearned revenues 14,634 15,478 Term loan, current portion 3,750 - Other accrued expenses 22,484 12,858 Total current liabilities 54,865 44,312 Noncurrent liabilities: Deferred tax liability $ 19,689 19,780 Other noncurrent liabilities 6,581 15,613 Revolving line of credit 42,000 50,500 Term loan, noncurrent portion, net of discounts and debt issuance costs 69,603 - Convertible senior notes, net of debt issuance costs 96,896 171,198 Total liabilities 289,634 301,403 Stockholders' equity: Common stock, no par value; authorized 25,000,000 shares; issued and outstanding, 5,409,155 and 5,394,491 shares, respectively 345,999 343,642 (Accumulated deficit) ( 180,969 ) ( 183,494 ) Accumulated other comprehensive (loss) ( 14,303 ) ( 14,755 ) Total stockholders' equity 150,727 145,393 Total liabilities and stockholders' equity $ 440,361 $ 446,796 See accompanying notes to Condensed C onsolidated Fi nancial Statements. Page 1 Table of Contents Mesa Labo

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View this 10-Q filing on SEC EDGAR