Mesa Labs Q2 Revenue Rises to $25.66M, GKE Acquisition Boosts Results

TL;DR

Mesa Labs Q2 revenue up to $25.66M, GKE acquisition paying off. Stronger than last year.

AI Summary

Mesa Laboratories Inc. reported revenues of $25.66 million for the second quarter of fiscal year 2025, an increase from $22.52 million in the same period last year. The company's net income was $5.42 million, or $0.16 per diluted share, for the quarter ending September 30, 2024. The filing also notes the inclusion of post-acquisition GKE results, with $12.12 million in revenue from GKE for the six months and $5.86 million for the three months ended September 30, 2024.

Why It Matters

This filing indicates revenue growth for Mesa Laboratories, partly driven by the GKE acquisition, suggesting successful integration and potential for future expansion in its core markets.

Risk Assessment

Risk Level: low — The filing presents standard financial reporting for a public company with no immediate red flags or significant negative trends.

Key Numbers

• $25.66B — Revenue (Q2 FY2025 revenue shows growth compared to the prior year.)
• $5.42B — Net Income (Indicates profitability for the quarter.)
• $0.16 — EPS (Earnings per share for the quarter.)

Key Players & Entities

• MESA LABORATORIES INC (company) — Filer
• Gary Owens (person) — Chief Executive Officer
• $25,656,000 (dollar_amount) — Q2 2025 Revenue
• $22,519,000 (dollar_amount) — Q2 2024 Revenue
• $5,419,855 (dollar_amount) — Q2 2025 Net Income
• September 30, 2024 (date) — End of Reporting Period
• GKE (company) — Acquired Entity

FAQ

Key Financial Figures

• $0.16 — ) - - ( 712 ) Dividends paid, $0.16 per share - - ( 859 ) - ( 859

Filing Documents

• mlab20240930_10q.htm (10-Q) — 1500KB
• ex_717746.htm (EX-31.1) — 13KB
• ex_717747.htm (EX-31.2) — 13KB
• ex_717748.htm (EX-32.1) — 5KB
• ex_717749.htm (EX-32.2) — 4KB
• 0001437749-24-033745.txt ( ) — 7409KB
• mlab-20240930.xsd (EX-101.SCH) — 67KB
• mlab-20240930_cal.xml (EX-101.CAL) — 51KB
• mlab-20240930_def.xml (EX-101.DEF) — 435KB
• mlab-20240930_lab.xml (EX-101.LAB) — 350KB
• mlab-20240930_pre.xml (EX-101.PRE) — 470KB
• mlab20240930_10q_htm.xml (XML) — 1309KB

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 15

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

Other Information

Part II. Other Information 23

Legal Proceedings

Item 1. Legal Proceedings 23

Risk factors

Item 1A. Risk factors 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23

Other Information

Item 5. Other Information 23

Exhibits

Item 6. Exhibits 24

Signatures

Signatures 25 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) September 30, March 31, 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 24,337 $ 28,214 Accounts receivable, less allowance for credit losses of $ 1,026 and $ 1,321 , respectively 40,234 39,055 Inventories 29,738 32,675 Prepaid expenses and other current assets 13,669 9,408 Total current assets 107,978 109,352 Noncurrent assets: Property, plant and equipment, net of accumulated depreciation of $ 25,656 and $ 22,519 respectively 32,073 31,766 Deferred tax asset 1,329 1,292 Other assets 20,142 10,538 Customer relationships, net 81,928 85,383 Other intangibles, net 26,895 28,369 Goodwill 183,753 180,096 Total assets $ 454,098 $ 446,796 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,988 $ 6,041 Accrued payroll and benefits 9,185 9,935 Unearned revenues 14,412 15,478 Other accrued expenses 22,866 12,858 Term loan, current portion 3,750 - Convertible senior notes, current portion, net of debt issuance costs 97,029 - Total current liabilities 153,230 44,312 Noncurrent liabilities: Deferred tax liability $ 20,561 19,780 Other noncurrent liabilities 14,653 15,613 Revolving line of credit 35,500 50,500 Term loan, noncurrent portion, net of discounts and debt issuance costs 68,703 - Convertible senior notes, noncurrent portion, net of debt issuance costs - 171,198 Total liabilities 292,647 301,403 Stockholders' equity: Common stock, no par value; authorized 25,000,000 shares; issued and outstanding, 5,419,855 and 5,394,491 shares, respectively 349,529 343,642 (Accumulated deficit) ( 178,407 ) ( 183,494 ) Accumulated other comprehensive (loss) ( 9,671 ) ( 14,755 ) Total stockholders' equity 161,451 145,393 Total liabilities and stockholders' equity $ 454,098 $ 446,796 See accompany

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View this 10-Q filing on SEC EDGAR