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Mesa Laboratories (MLAB) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Aug 10, 2026 · Mesa Laboratories (MLAB) Q1 FY27 earnings results →

Q1 FY27 Revenue up 1% year over year to $60.1M · 5¢ of every $1 of revenue kept as net profit · operating margin 11.7%

Mesa Laboratories made $60.1M in Q1 FY27 (+1% Y/Y). Operating margin 11.7%, net earnings $2.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.

Revenue$60.1M
Year over year+1%
Operating margin11.7%
Net earnings$2.8M
Operating cash flow$14.7M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $60.1M in Q1 FY27, up 1% year over year and down 6% from the previous quarter.

Gross margin was 64.9%, up 2.8 points from Q1 FY26. Operating profit was $7.0M, a 11.7% margin (up 6.5 points year over year). Of the extra revenue versus Q1 FY26, 667% reached operating profit, above the 5% margin then. Operating expenses fell 6% while revenue rose 1%. Net earnings were $2.8M, down 40% year over year. The effective tax rate was 35.0%.

Operating cash flow was $14.7M (up 678% year over year), 521% of net earnings. Non-cash charges added back $5.6M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $3.9M. Capital expenditures of $559K left free cash flow of $14.2M.

Quarterly history

Mesa Laboratories revenue by quarterMesa Laboratories revenue by quarter$62.8MQ3 FY25$62.1MQ4 FY25$59.5MQ1 FY26$60.7MQ2 FY26$65.1MQ3 FY26$63.7MQ4 FY26$60.1MQ1 FY27
Mesa Laboratories net earnings by quarterMesa Laboratories net earnings by quarter−$1.7MQ3 FY25−$7.1MQ4 FY25$4.7MQ1 FY26$2.5MQ2 FY26$3.6MQ3 FY26−$4.1MQ4 FY26$2.8MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QAug 10, 2026$60.1M+1%11.7%$2.8M$14.7M
Q4 FY2610-KJun 3, 2026$63.7M+3%4.3%−$4.1M$14.0M
Q3 FY2610-QFeb 3, 2026$65.1M+4%12.2%$3.6M$18.8M
Q2 FY2610-QNov 6, 2025$60.7M+5%7.8%$2.5M$8.2M
Q1 FY2610-QAug 5, 2025$59.5M+2%5.1%$4.7M$1.9M
Q4 FY2510-KMay 28, 2025$62.1M+6%2.4%−$7.1M$12.7M
Q3 FY2510-QFeb 4, 2025$62.8M+18%9.2%−$1.7M$18.1M

Charts

Mesa Laboratories: revenue growth, year over year and quarter over quarterMesa Laboratories: revenue growth, year over year and quarter over quarterY/YQ/Q+18%Q3 FY25+6%-1%Q4 FY25+2%-4%Q1 FY26+5%+2%Q2 FY26+4%+7%Q3 FY26+3%-2%Q4 FY26+1%-6%Q1 FY27
Latest (Q1 FY27): Y/Y +1%, Q/Q -6%.
Mesa Laboratories: where the cash came from (+) and went (−), TTM to Q1 FY27Mesa Laboratories: where the cash came from (+) and went (−), TTM to Q1 FY27Other financing−$98.5MNet borrowing (+) / repaid (−)$59.0MOperating cash flow$55.7MCash drawn (+) / kept (−)−$9.4MDividends−$3.5MCapital spending−$2.8MTaxes on employees’ shares−$958KExchange rates$467K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Mesa Laboratories: profit against cash, quarter by quarterMesa Laboratories: profit against cash, quarter by quarterNet incomeOperating cash flow$3.4M$5.3MQ2 FY25−$1.7M$18.1MQ3 FY25−$7.1M$12.7MQ4 FY25$4.7M$1.9MQ1 FY26$2.5M$8.2MQ2 FY26$3.6M$18.8MQ3 FY26−$4.1M$14.0MQ4 FY26$2.8M$14.7MQ1 FY27
Latest (Q1 FY27): Net income $2.8M, Operating cash flow $14.7M.
Mesa Laboratories: diluted shares by fiscal yearMesa Laboratories: diluted shares by fiscal year5MFY215MFY225MFY235MFY245MFY256MFY26
+8.6% since FY21: more shares outstanding (issuance, stock pay).
Mesa Laboratories: long-term debt falling due (FY26)Mesa Laboratories: long-term debt falling due (FY26)$5.6M2027$5.6M2028$7.5M2029$48.8M2030
Cash $26.9M, short-term investments —, long-term debt $67.5M at 2026-03-31.
Mesa Laboratories in its industry: growth against margin (17 companies, SIC 3823)Mesa Laboratories in its industry: growth against margin (17 companies, SIC 3823)revenue growth, year over year →↑ operating marginmedian +8%median 18%DHRAMEROPKEYSMKSIFTVSTRALCGNXHURCSYPRSENSINISFCUVCLIRQURTMLAB (+1%, 12%)
Industrial Instruments For Measurement, Display, and Control; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Mesa Laboratories

In this annual report, Mesa Laboratories, Inc., a Colorado corporation, together with its subsidiaries is collectively referred to as “we,” “us,” “our,” the “Company,” or “Mesa.” Mesa was organized in 1982 as a Colorado corporation. We are a global leader in the design and manufacture of life sciences tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. We offer products and services to help our customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world. We have manufacturing operations in the United States and Europe, and our products are marketed by our sales personnel in North America, Europe and the Asia Pacific region ("APAC"), and by independent distributors throughout the world.

In its own words, from its 10-K, filed Jun 3, 2026.

Mesa Laboratories against its Industrial Instruments For Measurement, Display, and Control peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +8%. Operating margin: 11.7% against the peers' median 21.3%.

CompanyQuarterRevenueY/YOp. margin
MLAB Mesa LaboratoriesQ1 FY27$60.1M+1%11.7%
DHR DanaherQ3 2026$6.6B+8%19.0%
AME AmetekQ3 2026$2.2B+17%26.3%
ROP Roper TechnologiesQ3 2026$2.2B+8%28.7%
KEYS Keysight TechnologiesQ3 FY26$1.8B+36%25.0%
MKSI MKSQ3 2026$1.4B+43%23.1%
FTV FortiveQ3 2026$1.1B+8%21.3%
ST Sensata Technologies HoldingQ3 2026$1.0B+8%17.5%
RAL RalliantQ3 2026$620M+17%18.9%

Source: Mesa Laboratories 10-Q on SEC EDGAR · CIK 724004 · Industrial Instruments For Measurement, Display, and Control

13F: who owns MLAB and who is buying

Largest holders of MLAB (13F)Largest holders of MLAB (13F)Wasatch Advisors LP$50.3MLong Path Partners LP$47.5MBlackRock$43.9MBoston Partners$26.4MVanguard Group$25.3MVanguard Capital Management LLC$23.6MAQR Capital Management LLC$20.3MRanger Investment Management, L.P.$17.3MMorgan Stanley$15.6MDiamond Hill Capital Management$15.5M
Funds' net buying of MLAB by quarter (13F)Funds' net buying of MLAB by quarter (13F)$1.7M2024-09−$1.3M2024-12$4.2M2025-03$7.9M2025-06−$17.7M2025-09−$13.6M2025-12$7.1M2026-03$24.4M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on MLAB

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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