Mesa Laboratories, Inc. recently released its 10-K report. The company develops, manufactures, sells and services life sciences tools and quality control products used in regulated pharmaceutical, healthcare and medical device settings across North America, Europe, the Asia Pacific and other international markets. Its four reporting segments are Sterilization and Disinfection Control, Biopharmaceutical Development, Calibration Solutions and Clinical Genomics, with operations centered in Lakewood, Colorado and manufacturing in the United States and Europe.
In Item 7, Mesa said fiscal 2026 revenue rose 3.4% to $249.1 million from $241.0 million in fiscal 2025. Gross profit increased 4.9% to $158.3 million, while operating expense rose 3.9% to $139.8 million. Operating income improved to $18.5 million from $16.3 million, and net income was $6.7 million versus a loss of $2.0 million a year earlier.
The strongest top-line growth came from Sterilization and Disinfection Control, where revenue increased 8.7% to $101.6 million from $93.4 million. Mesa said the increase was driven mainly by a weaker U.S. dollar and price increases, with higher sales volumes contributing as well. Segment gross profit rose to $71.7 million from $64.7 million, and gross margin widened to 70.6% from 69.2%.
Calibration Solutions revenue increased 3.5% to $53.6 million from $51.7 million. Gross profit in the segment rose to $32.0 million from $30.6 million, and margin edged up to 59.7% from 59.2%.
Biopharmaceutical Development was essentially flat, with revenue of $48.6 million compared with $48.7 million in fiscal 2025. Mesa said declines in immunoassay product lines were partly offset by growth in peptide products, while shipping delays tied to export controls affected certain peptide system shipments in the second half of the year. Segment gross profit fell to $28.6 million from $29.9 million, and margin declined to 58.7% from 61.4%.
Clinical Genomics was the weakest segment, with revenue falling to $45.4 million from $47.1 million. Mesa attributed the decline to unfavorable macroeconomic conditions in China and ongoing trade tensions, which reduced demand there. Segment gross profit increased to $26.0 million from $25.7 million, and margin improved to 57.3% from 54.5%.
Mesa said about 53% of fiscal 2026 revenue came from outside the United States. Currency translation added 2.2 percentage points to reported revenue growth in the year, and the company also said tariffs and foreign exchange reduced consolidated gross margin by about 0.8 percentage points. Operating expense increased in part because of costs tied to the departure of the former CEO, while fiscal 2025 had included GKE integration costs that did not recur. As a result of these announcements, the company's shares have moved -3.61% on the market, and are now trading at a price of $102.81. If you want to know more, read the company's complete 10-K report here.
