Mesa Laboratories, Inc. (MLAB) financial statements: income statement, balance sheet and cash flow
Mesa Laboratories, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Mar 31, 2026 · FY), Mesa Laboratories, Inc. reported revenue of $249.1M (+3.4% year on year) and net income of $6.7M (+440.0% year on year).
Income statement
Mesa Laboratories, Inc. income statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Revenue
$249.1M
$241.0M
$216.2M
$219.1M
Cost of revenue
$90.9M
$90.1M
$82.9M
$85.4M
Gross profit
$158.3M
$150.9M
$133.3M
$133.7M
Selling
$40.8M
$41.7M
$38.6M
$37.4M
General and administrative, other than impairment of finite-lived intangible assets and goodwill
$78.7M
$73.3M
$72.9M
$72.4M
Research and development
$20.3M
$19.5M
$19.3M
$20.5M
Impairment of finite-lived intangible assets
$0
$0
$117.6M
—
Impairment of goodwill
$0
$0
$156.9M
—
Total operating expense
$139.8M
$134.5M
$405.3M
$130.4M
Operating income (loss)
$18.5M
$16.3M
($272.1M)
$3.3M
Interest expense and amortization of debt issuance costs
$10.7M
$11.9M
$5.7M
—
Gain on extinguishment of convertible senior notes
$0
($2.9M)
—
—
Other (income) expense, net
($4.2M)
$1.4M
($2.1M)
($1.1M)
Total nonoperating expense, net
$6.5M
$10.4M
$3.6M
$3.7M
Earnings (loss) before income taxes
$12.0M
$6.0M
($275.6M)
($389.0K)
Income tax expense (benefit)
$5.3M
$7.9M
($21.4M)
($1.3M)
Net income (loss)
$6.7M
($2.0M)
($254.2M)
$930.0K
Basic earnings (loss) per share (in dollars per share)
$1.22
-$0.36
-$47.20
$0.17
Diluted earnings (loss) per share (in dollars per share)
$1.21
-$0.36
-$47.20
$0.17
Basic (in shares)
5.5M
5.4M
5.4M
5.3M
Diluted (in shares)
5.6M
5.4M
5.4M
5.4M
Mesa Laboratories, Inc. income statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · Q3
Sep 30, 2025 · Q2
Jun 30, 2025 · Q1
Revenue
$60.1M
$65.1M
$60.7M
$59.5M
Cost of revenue
$21.1M
$23.3M
$23.4M
$22.6M
Gross profit
$39.0M
$41.8M
$37.3M
$36.9M
Selling
$9.9M
$10.0M
$9.8M
$10.9M
General and administrative
$17.4M
$18.8M
$17.8M
$18.0M
Research and development
$4.7M
$5.0M
$5.0M
$5.0M
Total operating expense
$32.0M
$33.8M
$32.6M
$33.9M
Operating income
$7.0M
$8.0M
$4.7M
$3.1M
Interest expense and amortization of debt issuance costs
$2.4M
$3.0M
$2.9M
$2.2M
Other expense (income), net
$315.0K
$343.0K
($137.0K)
($6.1M)
Total non-operating expense (income), net
$2.7M
$3.4M
$2.7M
($3.9M)
Earnings before income taxes
$4.4M
$4.6M
$2.0M
$7.0M
Income tax expense
$1.5M
$966.0K
($477.0K)
$2.3M
Net income
$2.8M
$3.6M
$2.5M
$4.7M
Basic (in dollars per share)
$0.50
$0.66
$0.45
$0.87
Diluted (in dollars per share)
$0.49
$0.65
$0.45
$0.85
Basic (in shares)
5.7M
5.5M
5.5M
5.5M
Diluted (in shares)
5.8M
5.6M
5.5M
5.6M
Balance sheet
Mesa Laboratories, Inc. balance sheet, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Cash and cash equivalents
$26.9M
$27.3M
$28.2M
$32.9M
Accounts receivable, less allowances for credit losses of $2,569 and $1,186, respectively
$44.1M
$42.0M
$39.1M
$42.6M
Inventories
$26.4M
$25.4M
$32.7M
$34.6M
Prepaid expenses and other current assets
$8.9M
$8.0M
$9.4M
$8.9M
Total current assets
$106.3M
$102.7M
$109.4M
$119.0M
Property, plant and equipment, net
$30.6M
$32.3M
$31.8M
$28.1M
Deferred tax asset
$1.5M
$1.4M
$1.3M
$1.1M
Other Assets, Noncurrent
$19.2M
$18.3M
$10.5M
$10.4M
Intangible assets
$83.3M
$96.9M
$113.8M
$216.8M
Goodwill
$186.9M
$181.8M
$180.1M
$286.4M
Total assets
$427.7M
$433.3M
$446.8M
$661.8M
Accounts payable
$4.9M
$5.7M
$6.0M
$6.1M
Accrued payroll and benefits
$19.0M
$17.9M
$9.9M
$9.4M
Unearned revenues
$14.7M
$14.7M
$15.5M
$14.4M
Other accrued expenses
$17.6M
$24.6M
$12.9M
$13.4M
Term loan, current portion
$5.6M
$3.8M
—
—
Convertible senior notes, current portion, net of debt issuance costs
$0
$97.3M
—
—
Total current liabilities
$61.9M
$164.0M
$44.3M
$43.4M
Deferred tax liability
$20.1M
$20.2M
$19.8M
$34.0M
Other Liabilities, Noncurrent
$13.7M
$12.5M
$6.8M
$7.7M
Noncurrent portion
$61.4M
$66.9M
—
—
Revolving line of credit
$84.5M
$10.0M
$50.5M
$13.0M
Total liabilities
$241.5M
$273.5M
$301.4M
$268.4M
Common stock, no par value; authorized 25,000,000 shares; issued and outstanding, 5,524,931 and 5,455,421 shares, respectively
375.3M
-358.5M
343.6M
332.1M
(Accumulated deficit)
($185.7M)
($188.9M)
($183.5M)
$74.2M
Accumulated other comprehensive (loss)
($3.4M)
($9.8M)
($14.8M)
($12.8M)
Total stockholders’ equity
$186.2M
$159.8M
$145.4M
$393.5M
Total liabilities and stockholders’ equity
$427.7M
$433.3M
$446.8M
$661.8M
Mesa Laboratories, Inc. balance sheet, quarters
Line item
Jun 30, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$30.7M
$29.0M
$20.4M
$21.3M
Accounts receivable, less allowance for credit losses of $1,852 and $2,569, respectively
$34.4M
$40.2M
$40.1M
$39.1M
Inventories
$27.2M
$26.6M
$27.7M
$28.1M
Prepaid expenses and other current assets
$10.5M
$9.9M
$9.2M
$9.8M
Total current assets
$102.8M
$105.6M
$97.4M
$98.3M
Property, plant and equipment, net of accumulated depreciation of $31,113 and $30,115, respectively
$30.1M
$31.6M
$31.8M
$31.7M
Deferred tax asset
$1.5M
$1.5M
$1.5M
$1.5M
Other assets
$20.4M
$17.2M
$17.9M
$18.9M
Intangible assets
$78.4M
$89.6M
$93.3M
$97.4M
Goodwill
$186.0M
$189.3M
$188.5M
$188.1M
Total assets
$419.2M
$434.8M
$430.4M
$435.7M
Accounts payable
$7.5M
$5.3M
$5.1M
$6.3M
Accrued payroll and benefits
$13.2M
$13.9M
$10.0M
$10.4M
Unearned revenue
$14.5M
$14.6M
$14.3M
$15.1M
Other accrued expenses
$16.5M
$15.5M
$14.2M
$16.1M
Term loan, current portion
$5.6M
$5.2M
$4.7M
$4.2M
Total current liabilities
$57.3M
$54.4M
$48.3M
$149.5M
Deferred tax liability
$20.0M
$21.8M
$21.7M
$21.6M
Non-current operating lease liabilities
$15.9M
—
—
—
Noncurrent portion
$60.0M
$62.7M
$64.2M
$65.5M
Revolving line of credit
$77.3M
$98.3M
$106.0M
$14.0M
Total liabilities
$230.5M
$248.2M
$251.9M
$263.2M
Common stock, no par value; authorized 25,000,000 shares; issued and outstanding, 5,595,780 and 5,524,931 shares, respectively
376.7M
-368.6M
-365.2M
-361.4M
(Accumulated deficit)
($183.8M)
($180.7M)
($183.5M)
($185.1M)
Accumulated other comprehensive (loss)
($4.2M)
($1.1M)
($3.2M)
($3.8M)
Total stockholders’ equity
$188.8M
$186.7M
$178.5M
$172.5M
Total liabilities and stockholders’ equity
$419.2M
$434.8M
$430.4M
$435.7M
Cash flow statement
Mesa Laboratories, Inc. cash flow statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Net income (loss)
$6.7M
($2.0M)
($254.2M)
$930.0K
Depreciation of property, plant and equipment
$5.3M
$5.4M
$4.2M
—
Amortization of acquisition-related intangibles
$18.0M
$19.1M
$27.3M
—
Stock-based compensation expense
$17.9M
$13.1M
$11.9M
$12.5M
Non-cash interest expense and debt issuance cost amortization
$682.0K
$990.0K
$926.0K
$907.0K
Gain on extinguishment of convertible senior notes
$0
($2.9M)
—
—
Amortization of step-up in inventory basis
$0
$1.2M
$1.2M
$0
Deferred taxes
($1.3M)
($72.0K)
($28.4M)
($3.5M)
Impairment loss on goodwill and finite-lived intangible assets
$0
$0
$274.5M
—
Other
$577.0K
$4.9M
$629.0K
$390.0K
Accounts receivable
($3.2M)
($2.9M)
$4.9M
($2.1M)
Inventories
($4.4M)
$1.2M
$2.6M
($10.2M)
Prepaid expenses and other assets
$608.0K
$498.0K
$211.0K
($510.0K)
Accounts payable
($1.2M)
($388.0K)
($97.0K)
($1.5M)
Accrued liabilities and taxes payable
$3.5M
$9.5M
($1.2M)
($3.4M)
Unearned revenues
($255.0K)
($938.0K)
($408.0K)
$606.0K
Net cash provided by operating activities
$42.8M
$46.8M
$44.1M
$28.0M
Purchases of property, plant and equipment
($3.3M)
($4.2M)
($2.6M)
($4.5M)
Acquisition of customer lists
$0
($250.0K)
—
—
Acquisition of businesses, net of cash acquired and holdback liabilities
$0
$0
($78.7M)
($5.0M)
Net cash (used in) investing activities
($3.3M)
($4.5M)
($81.3M)
($9.5M)
Proceeds from debt borrowings
$107.5M
$73.5M
$71.0M
$0
Repurchase of convertible note debt
($97.5M)
($71.6M)
—
—
Other debt principal repayments
($36.7M)
($44.3M)
($33.5M)
($36.0M)
GKE acquisition holdback payment
($9.6M)
—
—
—
Dividends paid
($3.5M)
($3.5M)
($3.4M)
($3.4M)
Payment of tax withholding obligation on vesting of restricted stock
($1.1M)
($887.0K)
($728.0K)
($919.0K)
Proceeds from the exercise of stock options
$0
$2.6M
$358.0K
$7.0M
Other financing, net
($966.0K)
($452.0K)
($847.0K)
—
Net cash (used in) provided by financing activities
($41.9M)
($44.5M)
$32.8M
($33.3M)
Net (decrease) in cash and cash equivalents
($393.0K)
($893.0K)
($4.7M)
($16.4M)
Cash and cash equivalents at beginning of period
$27.3M
$28.2M
$32.9M
$49.3M
Cash and cash equivalents at end of period
$26.9M
$27.3M
$28.2M
$32.9M
Effect of exchange rate changes on cash and cash equivalents
$1.9M
$1.3M
($359.0K)
($1.6M)
Income taxes
$1.9M
$5.7M
$4.6M
$1.4M
Interest
$10.0M
$11.1M
$4.6M
$3.5M
Mesa Laboratories, Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · YTD
Sep 30, 2025 · YTD
Jun 30, 2025 · Q1
Net income
$2.8M
$10.8M
$7.2M
$4.7M
Depreciation of property, plant and equipment
$1.3M
$4.0M
$2.7M
$1.4M
Amortization of intangible assets
$4.4M
$13.5M
$9.1M
$4.6M
Stock-based compensation expense
$2.4M
$11.1M
$7.7M
$3.9M
Foreign currency adjustments
$354.0K
($5.8M)
($6.1M)
($6.0M)
Other
$623.0K
$4.1M
$2.9M
$1.3M
Accounts receivable, net
$9.8M
$921.0K
$1.7M
$3.4M
Inventories
($1.5M)
($3.5M)
($4.1M)
($3.3M)
Prepaid expenses and other assets
($2.3M)
($1.5M)
($823.0K)
($2.4M)
Accounts payable
$2.4M
($873.0K)
($997.0K)
$212.0K
Accrued liabilities and taxes payable
($5.3M)
($3.5M)
($8.5M)
($5.9M)
Unearned revenue
($171.0K)
($514.0K)
($758.0K)
$55.0K
Net cash provided by operating activities
$14.7M
$28.9M
$10.1M
$1.9M
Purchases of property, plant and equipment
($559.0K)
($2.8M)
($2.1M)
($1.0M)
Net cash (used in) investing activities
($559.0K)
($2.8M)
($2.1M)
($1.0M)
Proceeds from debt borrowings
$10.0M
$107.5M
$107.5M
$10.5M
Debt repayments
($18.7M)
($22.1M)
($13.4M)
($7.4M)
GKE acquisition-related holdback payment
$0
($9.6M)
($9.6M)
($9.6M)
Dividends paid
($884.0K)
($2.6M)
($1.8M)
($873.0K)
Tax withholding on vesting of net restricted stock units
($958.0K)
—
—
—
Net cash (used in) financing activities
($10.5M)
($26.1M)
($16.3M)
($8.4M)
Effect of exchange rate changes on cash and cash equivalents
$88.0K
$1.7M
$1.4M
$1.5M
Net increase (decrease) in cash and cash equivalents
$3.8M
$1.7M
($6.9M)
($6.0M)
Cash and cash equivalents at beginning of period
$26.9M
$27.3M
$27.3M
$27.3M
Cash and cash equivalents at end of period
$30.7M
$29.0M
$20.4M
$21.3M
Right of use assets obtained in exchange for lease liabilities