Mesa Labs Q3 FY25: GKE Integration Continues

TL;DR

Mesa Labs Q3 FY25: GKE revenue trickles into Sterilization division.

AI Summary

Mesa Laboratories Inc. reported its third-quarter results for fiscal year 2025, ending December 31, 2024. The company's revenue for the six months ended September 30, 2024, included $12,117 from GKE within its Sterilization and Disinfection Control division. For the three months ended September 30, 2024, GKE's results were also included, contributing $5,863 to the same division.

Why It Matters

The inclusion of GKE's results provides insight into the performance of Mesa Laboratories' Sterilization and Disinfection Control division following the acquisition.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report with no immediate red flags.

Key Numbers

• 26,036 — Revenue (Six Months Ended Sep 30, 2024) (Part of the company's top-line performance)
• 22,519 — Revenue (Six Months Ended Sep 30, 2023) (Year-over-year comparison for the six-month period)
• 25,000,000 — Debt (As of Dec 31, 2024) (Indicates the company's leverage)

Key Players & Entities

• MESA LABORATORIES INC /CO/ (company) — Filer
• GKE (company) — Acquired entity contributing to revenue
• 20241231 (date) — End of reporting period
• 20250204 (date) — Filing date
• $12,117 (dollar_amount) — Revenue from GKE for six months ended Sep 30, 2024
• $5,863 (dollar_amount) — Revenue from GKE for three months ended Sep 30, 2024

FAQ

Filing Documents

• mlab20241231_10q.htm (10-Q) — 1588KB
• ex_746128.htm (EX-31.1) — 13KB
• ex_746129.htm (EX-31.2) — 13KB
• ex_746130.htm (EX-32.1) — 5KB
• ex_746131.htm (EX-32.2) — 4KB
• 0001437749-25-002662.txt ( ) — 7608KB
• mlab-20241231.xsd (EX-101.SCH) — 67KB
• mlab-20241231_cal.xml (EX-101.CAL) — 52KB
• mlab-20241231_def.xml (EX-101.DEF) — 443KB
• mlab-20241231_lab.xml (EX-101.LAB) — 350KB
• mlab-20241231_pre.xml (EX-101.PRE) — 475KB
• mlab20241231_10q_htm.xml (XML) — 1358KB

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 (Loss) Income 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 16

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 24

Other Information

Part II. Other Information 25

Legal Proceedings

Item 1. Legal Proceedings 25

Risk factors

Item 1A. Risk factors 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Other Information

Item 5. Other Information 25

Exhibits

Item 6. Exhibits 26

Signatures

Signatures 27 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) December 31, March 31, 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 30,956 $ 28,214 Accounts receivable, less allowance for credit losses of $ 1,060 and $ 1,321 , respectively 38,647 39,055 Inventories 28,122 32,675 Prepaid expenses and other current assets 13,120 9,408 Total current assets 110,845 109,352 Noncurrent assets: Property, plant and equipment, net of accumulated depreciation of $ 26,036 and $ 22,519 respectively 31,602 31,766 Deferred tax asset 1,242 1,292 Other assets 18,126 10,538 Customer relationships, net 73,797 85,383 Other intangibles, net 24,384 28,369 Goodwill 177,152 180,096 Total assets $ 437,148 $ 446,796 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,087 $ 6,041 Accrued payroll and benefits 13,919 9,935 Unearned revenues 14,608 15,478 Other accrued expenses 22,351 12,858 Term loan, current portion 3,750 - Convertible senior notes, current portion, net of debt issuance costs 97,163 - Total current liabilities 155,878 44,312 Noncurrent liabilities: Deferred tax liability $ 18,800 19,780 Other noncurrent liabilities 12,453 15,613 Revolving line of credit 27,000 50,500 Term loan, noncurrent portion, net of discounts and debt issuance costs 67,803 - Convertible senior notes, noncurrent portion, net of debt issuance costs - 171,198 Total liabilities 281,934 301,403 Stockholders' equity: Common stock, no par value; authorized 25,000,000 shares; issued and outstanding, 5,433,603 and 5,394,491 shares, respectively 352,788 343,642 (Accumulated deficit) ( 180,952 ) ( 183,494 ) Accumulated other comprehensive (loss) ( 16,622 ) ( 14,755 ) Total stockholders' equity 155,214 145,393 Total liabilities and stockholders' equity $ 437,148 $ 446,796 See accompan

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View this 10-Q filing on SEC EDGAR