NEOGEN CORP
For the period ended May 31, 2026. Filed Jul 30, 2026.
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FY2026 · Filed Jul 30, 2026
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2. Revenue
- Revenue Recognition
The Company derives revenue from two primary sources — product revenue and service revenue.
Product revenue consists primarily of shipments of:
Diagnostic test kits, culture media and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation;
Consumable products marketed to veterinarians, retailers, livestock producers and animal health product distributors; and
Rodent control products and insect control products to assist in the control of rodents, insects and disease in and around agricultural, food production and other facilities.
Service revenue consists primarily of:
Genomic identification and related interpretive bioinformatic services; and
Other commercial laboratory services.
Payment terms for products and services are generally 30 to 90 days.
The following table summarizes contract liabilities by period:
| Year Ended May 31 , | ||
|---|---|---|
| 2026 | 2025 | |
| Beginning balance | $5.6 | $4.6 |
| Additions | 10.2 | 12.7 |
| Recognized into revenue | (11.2) | (11.7) |
| Reclassified to held for sale (1) | (1.0) | — |
| Ending balance | $3.6 | $5.6 |
(1) Represents deferred revenue reclassified to the Company's held for sale entities. See Note 4 "Assets Held for Sale and Divestiture" for further detail.
The following table presents disaggregated revenue by major product and service categories for the years ended May 31, 2026, 2025 and 2024:
| Year Ended May 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Food Safety: | |||
| Natural Toxins & Allergens | $77.5 | $77.0 | $82.2 |
| Bacterial & General Sanitation | 175.4 | 164.8 | 171.2 |
| Indicator Testing & Culture Media | 332.7 | 312.2 | 322.0 |
| Rodent Control, Insect Control & Disinfectants | 18.2 | 47.0 | 43.0 |
| Genomics Services | 24.6 | 23.4 | 24.3 |
| Other | 12.7 | 13.7 | 12.6 |
| $641.1 | $638.1 | $655.3 | |
| Animal Safety: | |||
| Life Sciences | $6.6 | $6.5 | $6.5 |
| Veterinary Instruments & Disposables | 56.9 | 61.5 | 65.8 |
| Animal Care & Other | 29.3 | 34.7 | 37.0 |
| Rodent Control, Insect Control & Disinfectants | 68.9 | 88.1 | 88.7 |
| Genomics Services | 67.6 | 65.8 | 70.8 |
| $229.3 | $256.6 | $268.9 | |
| Total Revenue | $870.4 | $894.7 | $924.2 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.