Mesa Labs Issues First Full-Year Guidance After Profit Recovery

The Tip Desk · November 12, 2026 · 3 min read

Second-quarter revenue was $62.34 million, up 2.6%, as the company guided fiscal 2027 sales of $250 million to $255 million.

Mesa Laboratories, Inc. (MLAB), a maker of quality control solutions and life sciences tools, reported second-quarter fiscal 2027 revenue of $62,336 thousand, up 2.6% from a year earlier, and issued full-year guidance for the first time.

Organic growth accelerated from 1.0% in the first fiscal quarter. Constant-currency organic growth was 3.1%.

Operating income rose 77.6% to $8,388 thousand from $4,724 thousand a year earlier. Net income increased 75.3% to $4,341 thousand, or $0.75 a share, versus $0.45.

Adjusted EBITDA, which the company began presenting in the quarter, increased 21.1% to $17,317 thousand, or 27.8% of revenues versus 23.5% in the year-ago quarter.

Sterilization and Disinfection Control, 40.7% of company revenues, was the growth engine. Division revenue was $25,342 thousand, up 14.6% organically and 15.4% in constant currency. The company said the year-ago quarter had been hurt by product fulfillment delays from production challenges, that those issues have been resolved for most product lines, and that shipment volumes have increased. Over the last twelve months SDC revenue increased 8.5% to $103,897 thousand, which the company called the highest twelve-month total in the division’s history.

SDC gross profit percentage rose 260 basis points year over year, which the company attributed primarily to lower contract labor and consulting costs and higher revenues on a partially fixed cost base. In September the FDA inspected the company’s Bozeman, Montana biological-indicator plant and issued no Form 483 observations.

Biopharmaceutical Development revenue was $12,779 thousand, down 8.2% organically. The company said the decline was primarily lower peptide hardware sales from export-control processing delays; immunoassays were relatively flat. Gross profit percentage in the division increased 670 basis points on favorable mix.

Calibration Solutions revenue was $14,050 thousand, up 3.5% organically on higher volumes and price increases. Gross profit percentage decreased 110 basis points, which the company attributed primarily to unfavorable mix and higher transportation costs.

Clinical Genomics revenue was $10,165 thousand, down 8.8% organically, which the company attributed primarily to the timing of consumables order fulfillment for a large customer and a modest decline in China. The company said it is managing the business for profitability rather than scale and expects Clinical Genomics revenues to decline in the second half of fiscal 2027 and into fiscal 2028. Revenues excluding Clinical Genomics increased 5.2% to $52,171 thousand.

On October 13, after quarter-end, the company announced a Savings Plan expected to reduce annualized operating costs by about $9,300 thousand, with about $4,300 thousand reinvested for a net annualized reduction of about $5,000 thousand. Estimated pre-tax restructuring charges of about $2,600 thousand to $3,400 thousand are expected primarily in the second half of fiscal 2027. No restructuring charges were incurred in the second quarter.

For the fiscal year ending March 31, 2027, Mesa expects revenues of $250,000 thousand to $255,000 thousand and adjusted EBITDA of $66,000 thousand to $68,000 thousand, versus fiscal 2026 adjusted EBITDA of $62,969 thousand, an increase of about 5% to 8% on revenue growth of about 0% to 2%. The company said third-quarter revenues are expected to be about flat year over year, mainly because of lower Clinical Genomics, and that excluding Clinical Genomics it expects revenues to continue to grow.

The company repaid $11,406 thousand of debt in the quarter and reduced its Total Net Leverage Ratio to 1.75 from 1.85 at June 30, 2026. On November 4 the board authorized a new program to repurchase up to $40,000 thousand of common stock, replacing a 2005 authorization.