Mesa Laboratories, Inc. reported significant financial improvements for the three and six months ended September 30, 2024, compared to the same periods in 2023. Revenues increased by 8.8% to $57.8 million for the quarter and by 11.7% to $116.0 million for the six months. The growth was driven by strong performance in the Sterilization and Disinfection Control segment, which saw a 30.0% increase in quarterly revenues to $22.2 million, and a 36.8% increase for the six months to $45.2 million. The Biopharmaceutical Development segment also contributed positively, with revenues rising 28.9% for the quarter and 25.0% for the six months.

Gross profit for the three months ended September 30, 2024, was $35.5 million, a 10.4% increase from $32.1 million in the prior year. For the six months, gross profit rose 14.9% to $72.7 million. Operating income turned positive, reaching $3.5 million for the quarter and $9.1 million for the six months, compared to losses in the previous year. Net income for the quarter was $3.4 million, a substantial recovery from a loss of $1.2 million in the same period last year, while net income for the six months was $6.8 million, compared to a loss of $1.8 million.

The company completed the acquisition of GKE GmbH and SAL GmbH in October 2023, which contributed $5.9 million in revenues and $3.7 million in gross profit for the quarter. The acquisition was financed through cash and a $71 million line of credit. Mesa Laboratories also reported a foreign currency translation adjustment of $4.6 million for the quarter, contrasting with a loss of $1.4 million in the previous year.

Despite the positive financial results, cash and cash equivalents decreased to $24.3 million from $35.6 million a year earlier, primarily due to increased interest payments and higher tax obligations. The company’s total stockholders' equity increased to $161.5 million as of September 30, 2024, from $150.7 million at the end of the previous quarter.

Mesa Laboratories continues to focus on operational efficiency and strategic growth through acquisitions, with a commitment to enhancing its product offerings and market presence. The company operates in four segments: Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development, and Calibration Solutions, each contributing to the overall revenue growth.