MESA LABORATORIES INC /CO/

Listed Company

MLABCIK 0000724004NasdaqAcceleratedIndustrial Instruments For Measurement, Display, And ControlColoradoFY ends Mar 31

Period

FY 2026

Revenue

$249.13M

Net Income

$6.71M

Total Assets

$427.75M

Equity

$186.25M

Shares Out

5.52M

Op. Cash Flow

$42.83M

Business

MESA LABORATORIES INC /CO/ designs, manufactures and sells life sciences tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. Its main products and services include biological and chemical sterilization and cleaning indicators, genetic analysis systems and consumables, protein analysis and peptide synthesis instruments and consumables, and calibration, monitoring and testing equipment, plus related testing, maintenance and calibration services. The company reports four business divisions: Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development and Calibration Solutions. Products are manufactured in the U.S. and Europe and sold through direct sales teams and independent distributors across North America, Europe and Asia Pacific, with additional global distribution.

Summary from filing dated 2025-05-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Revenues:	—	—	—
Revenue	249	241	216
Cost of revenues:	—	—	—
Cost of revenue	91	90	83
Gross profit	158	151	133
Operating expense:	—	—	—
Selling	41	42	39
General and administrative, other than impairment of finite-lived intangible assets and goodwill	79	73	73
Research and development	20	20	19
Impairment of finite-lived intangible assets	0	0	118
Impairment of goodwill	0	0	157
Total operating expense	140	135	405
Operating income (loss)	19	16	−272
Nonoperating expense (income):	—	—	—
Interest expense and amortization of debt issuance costs	11	12	6
Gain on extinguishment of convertible senior notes	0	3	0
Other (income) expense, net	4	−1	2
Total nonoperating expense, net	−6	−10	−4
Earnings (loss) before income taxes	12	6	−276
Income tax expense (benefit)	5	8	−21
Net income (loss)	7	−2	−254
Net earnings (loss) per share	—	—	—
Basic earnings (loss) per share (in dollars per share)	1.22	−0.36	−47.2
Diluted earnings (loss) per share (in dollars per share)	1.21	−0.36	−47.2
Weighted-average common shares outstanding	—	—	—
Basic (in shares)	6	5	5
Diluted (in shares)	6	5	5

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31
Current assets	—	—
Cash and cash equivalents	27	27
Accounts receivable, less allowances for credit losses of $2,569 and $1,186, respectively	44	42
Inventories	26	25
Prepaid expenses and other current assets	9	8
Total current assets	106	103
Noncurrent assets	—	—
Property, plant and equipment, net	31	32
Deferred tax asset	2	1
Other Assets, Noncurrent	19	18
Intangible assets	83	97
Goodwill	187	182
Total assets	428	433
Accounts payable	5	6
Accrued payroll and benefits	19	18
Unearned revenues	15	15
Other accrued expenses	18	25
Term loan, current portion	6	4
Convertible senior notes, current portion, net of debt issuance costs	0	97
Total current liabilities	62	164
Deferred tax liability	20	20
Other Liabilities, Noncurrent	14	12
Noncurrent portion	61	67
Revolving line of credit	85	10
Total liabilities	242	274
Commitments and Contingencies (Note 13)	—	—
Stockholders’ equity	—	—
Common stock, no par value; authorized 25,000,000 shares; issued and outstanding, 5,524,931 and 5,455,421 shares, respectively	375	359
(Accumulated deficit)	−186	−189
Accumulated other comprehensive (loss)	−3	−10
Total stockholders’ equity	186	160
Total liabilities and stockholders’ equity	428	433

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Cash flows from operating activities:	—	—	—
Net income (loss)	7	−2	−254
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	—	—	—
Depreciation of property, plant and equipment	5	5	4
Amortization of acquisition-related intangibles	18	19	27
Stock-based compensation expense	18	13	12
Non-cash interest expense and debt issuance cost amortization	682,000	990,000	926,000
Gain on extinguishment of convertible senior notes	0	3	0
Amortization of step-up in inventory basis	0	1	1
Deferred taxes	1	72,000	28
Impairment loss on goodwill and finite-lived intangible assets	0	0	275
Other	−577,000	−5	−629,000
Cash from changes in operating assets and liabilities:	—	—	—
Accounts receivable	3	3	−5
Inventories	4	−1	−3
Prepaid expenses and other assets	−608,000	−498,000	−211,000
Accounts payable	−1	−388,000	−97,000
Accrued liabilities and taxes payable	3	10	−1
Unearned revenues	−255,000	−938,000	−408,000
Net cash provided by operating activities	43	47	44
Cash flows from investing activities:	—	—	—
Purchases of property, plant and equipment	3	4	3
Acquisition of customer lists	0	250,000	0
Acquisition of businesses, net of cash acquired and holdback liabilities	0	0	79
Net cash (used in) investing activities	−3	−4	−81
Cash flows from financing activities:	—	—	—
Proceeds from debt borrowings	108	73	71
Repurchase of convertible note debt	98	72	0
Other debt principal repayments	37	44	34
GKE acquisition holdback payment	10	0	0
Dividends paid	4	3	3
Payment of tax withholding obligation on vesting of restricted stock	1	887,000	728,000
Proceeds from the exercise of stock options	0	3	358,000
Other financing, net	−966,000	−452,000	−847,000
Net cash (used in) provided by financing activities	−42	−45	33
Net (decrease) in cash and cash equivalents	−393,000	−893,000	−5
Cash and cash equivalents at end of period	—	—	—
Cash and cash equivalents at end of period	—	—	—
Effect of exchange rate changes on cash and cash equivalents	2	1	−359,000
Cash paid for:	—	—	—
Income taxes	2	6	5
Interest	10	11	5

Filings

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