MESA LABORATORIES INC /CO/ Revenue Disclosure

Note 2. Revenue

 

We develop, manufacture, market, sell and maintain life sciences tools and quality control instruments and related consumables.

 

Hardware sales include physical products such as instruments used for molecular and genetic analysis, protein synthesizers, medical meters, wireless sensor systems, data loggers, and process challenge devices. Hardware may be offered with accompanying perpetual or annual software licenses, which in some cases are required for the hardware to function.

 

Consumables are single-use products requiring frequent replacement in our customers' operating cycles. Consumables sold by our Clinical Genomics and Biopharmaceutical Development divisions, such as reagents used for molecular and genetic analysis or solutions used for protein synthesis, are critical to the ongoing use of our instruments. Consumables such as biological and chemical indicator test strips sold by our Sterilization and Disinfection Control division are used on a standalone basis.

 

We also offer maintenance, calibration and testing service contracts. 

 

We disclose revenues consistently with how management evaluates the business, i.e., based on business unit and the nature of goods and services provided.

 

The following tables present disaggregated revenues from contracts with customers for the years ended March 31, 2026, 2025 and 2024:

 

		Year Ended March 31, 2026
		Sterilization and Disinfection Control (1)				Biopharmaceutical Development				Calibration Solutions				Clinical Genomics				Total
Consumables		$	90,521			$	16,869			$	2,737			$	35,815			$	145,942
Hardware and Software			505				19,170				32,479				5,296				57,450
Services			10,541				12,587				18,335				4,275				45,738
Total revenues		$	101,567			$	48,626			$	53,551			$	45,386			$	249,130

 

		Year Ended March 31, 2025
		Sterilization and Disinfection Control (1)				Biopharmaceutical Development				Calibration Solutions				Clinical Genomics				Total
Consumables		$	82,736			$	17,287			$	3,039			$	35,672			$	138,734
Hardware and Software			496				19,649				31,827				7,689				59,661
Services			10,186				11,794				16,883				3,720				42,583
Total revenues		$	93,418			$	48,730			$	51,749			$	47,081			$	240,978

 

		Year Ended March 31, 2024
		Sterilization and Disinfection Control(1)				Biopharmaceutical Development				Calibration Solutions				Clinical Genomics				Total
Consumables		$	65,459			$	17,086			$	2,345			$	36,086			$	120,976
Hardware and Software			549				12,993				30,024				12,254				55,820
Services			9,116				10,633				15,394				4,248				39,391
Total revenues		$	75,124			$	40,712			$	47,763			$	52,588			$	216,187

 

(1)	Revenues of $9,289 from GKE are included in the Sterilization and Disinfection Control division during the year ended March 31, 2024 and represent sales of consumables made beginning from the acquisition date.

 

Contract Balances

Our contracts have varying payment terms and conditions. Some customers prepay for products and services, resulting in either unearned revenues or customer deposits, called contract liabilities. Short-term contract liabilities are included within unearned revenues in the accompanying Consolidated Balance Sheets, and long-term contract liabilities are included within other long-term liabilities in the accompanying Consolidated Balance Sheets. The significant majority of our revenues and related receivables and contract liabilities are generated from contracts with customers with original expected durations of twelve months or less. Contract liabilities will be recognized to revenue as we satisfy our obligations under the terms of the contracts. 

 

A summary of contract liabilities is as follows:

 

Contract liabilities as of March 31, 2025		$	14,803
Prior year liabilities recognized in revenues during the year ended March 31, 2026			(10,155	)
Contract liabilities added during the year ended March 31, 2026, net of revenues recognized			10,075
Contract liabilities balance as of March 31, 2026		$	14,723