diff --git a/.flake8 b/.flake8
new file mode 100644
index 0000000000..9b1d83c841
--- /dev/null
+++ b/.flake8
@@ -0,0 +1,8 @@
+[flake8]
+# Leave at 99 for now
+max-line-length = 99
+ignore = E203,W503,BLK100
+per-file-ignores =
+    linearmodels/panel/data.py: E704
+    linearmodels/shared/utility.py: F811, E704
+    linearmodels/panel/utility.py: F811
diff --git a/ci/azure_template_posix.yml b/ci/azure_template_posix.yml
index a85d4b0f06..55ee539a23 100644
--- a/ci/azure_template_posix.yml
+++ b/ci/azure_template_posix.yml
@@ -11,12 +11,12 @@ parameters:
 
 jobs:
 
-- job: ${{ parameters.name }}Test
+- job: ${{ parameters.name }}_Test
   pool:
     vmImage: ${{ parameters.vmImage }}
   strategy:
     matrix:
-      python310_minimums:
+      python310_minimums_wheel:
         python.version: '3.10'
         NUMPY: 1.22.3
         SCIPY: 1.8.0
@@ -24,8 +24,8 @@ jobs:
         STATSMODELS: 0.13.1
         XARRAY: 0.21.0
         FORMULAIC: 1.0.2
-        test.install: true
-      python310_mid:
+        test.wheel: true
+      python310_mid_sdist:
         python.version: '3.10'
         NUMPY: 1.23.0
         SCIPY: 1.9.0
@@ -34,8 +34,8 @@ jobs:
         XARRAY: 2022.6.0
         XXHASH: true
         FORMULAIC: 1.0.2
-        test.install: true
-      python310_recent:
+        test.sdist: true
+      python310_recent_wheel:
         python.version: '3.10'
         NUMPY: 1.24.0
         SCIPY: 1.12.0
@@ -43,7 +43,7 @@ jobs:
         STATSMODELS: 0.14.0
         XARRAY: 2023.4.0
         FORMULAIC: 1.1.0
-        test.install: true
+        test.wheel: true
       python310_latest:
         python.version: '3.10'
         FORMULAIC: 1.2.0
@@ -51,7 +51,7 @@ jobs:
         PYARROW: true
       python310_no_cython:
         python.version: '3.10'
-        LM_NO_BINARY: 1
+        BUILD_FLAGS: '-Csetup-args=-Dno-binary=true'
       python311_latest:
         python.version: '3.11'
         XXHASH: true
@@ -64,6 +64,7 @@ jobs:
         python.version: '3.13'
         XXHASH: true
         PYARROW: true
+        BUILD_FLAGS: '-Csetup-args=-Dcython-coverage=true'
       python313_copy_on_write:
         python.version: '3.12'
         XXHASH: true
@@ -81,7 +82,7 @@ jobs:
     displayName: 'Use Python $(python.version)'
 
   - script: |
-      python -m pip install --upgrade pip setuptools>=61 wheel
+      python -m pip install --upgrade pip wheel build
       python -m pip install -r requirements.txt
       python -m pip install -r requirements-test.txt
       python -m pip install -r requirements-dev.txt
@@ -102,18 +103,26 @@ jobs:
     displayName: 'Check style and formatting'
 
   - script: |
-      echo "Installing to site packages"
-      python -m pip wheel . --wheel-dir ./dist/ --no-build-isolation
+      echo "Installing to site packages (sdist)"
+      python -m build --sdist . -v  
+      SDIST=$(ls -t ./dist/linearmodels-*.tar.gz | head -1)
+      pip install ${SDIST} -v
+    displayName: 'Install linearmodels (site-packages)'
+    condition: eq(variables['test.sdist'], 'true')
+
+  - script: |
+      echo "Installing to site packages (wheel)"
+      python -m pip wheel . --wheel-dir ./dist/
       WHL=$(ls -t ./dist/linearmodels-*.whl | head -1)
-      pip install ${WHL}
+      pip install ${WHL} -v
     displayName: 'Install linearmodels (site-packages)'
-    condition: eq(variables['test.install'], 'true')
+    condition: eq(variables['test.wheel'], 'true')
 
   - script: |
-      echo python -m pip install -e . -v --no-build-isolation
-      python -m pip install -e . -v --no-build-isolation
+      echo python -m pip install --no-build-isolation -vv -e . ${FLAGS}
+      python -m pip install --no-build-isolation -vv -e . ${FLAGS}
     displayName: 'Install linearmodels (editable)'
-    condition: ne(variables['test.install'], 'true')
+    condition: and(ne(variables['test.wheel'], 'true'), ne(variables['test.sdist'], 'true'))
 
   - script: |
       echo "Testing site packages"
@@ -122,17 +131,17 @@ jobs:
       python -c "import linearmodels; linearmodels.test(['-n', 'auto', '--junitxml=../junit/test-results.xml'])"
       popd
     displayName: 'Run tests (site-packages)'
-    condition: and(eq(variables['test.install'], 'true'), ne(variables['pip.pre'], 'true'))
+    condition: or(eq(variables['test.wheel'], 'true'), eq(variables['test.sdist'], 'true'))
 
   - script: |
       echo "Testing editable install"
       if [[ ${COVERAGE} == "true" ]]; then
-        export COVERAGE_OPTS="--cov-config .coveragerc --cov=linearmodels --cov-report xml:coverage.xml --cov-report term"
+        export COVERAGE_OPTS="--cov=linearmodels --cov-report xml:coverage.xml --cov-report term"
       fi
       echo pytest -m "${PYTEST_PATTERN}" --junitxml=junit/test-results.xml -n auto --durations=25 ${COVERAGE_OPTS} linearmodels/tests
       pytest -m "${PYTEST_PATTERN}" --junitxml=junit/test-results.xml -n auto --durations=25 ${COVERAGE_OPTS} linearmodels/tests
     displayName: 'Run tests (editable)'
-    condition: and(ne(variables['test.install'], 'true'), ne(variables['pip.pre'], 'true'))
+    condition: and(and(ne(variables['test.wheel'], 'true'), ne(variables['test.sdist'], 'true')), ne(variables['pip.pre'], 'true'))
 
   - script: |
       echo "Testing pip-pre"
diff --git a/examples/system_examples.ipynb b/examples/system_examples.ipynb
index 5748e85863..03bafd369b 100644
--- a/examples/system_examples.ipynb
+++ b/examples/system_examples.ipynb
@@ -184,7 +184,7 @@
     "\n",
     "cov = res.sigma\n",
     "std = np.sqrt(np.diag(res.sigma)[:, None])\n",
-    "regions = [k for k in mod_data.keys()]\n",
+    "regions = list(mod_data.keys())\n",
     "corr = pd.DataFrame(cov / (std @ std.T), columns=regions, index=regions)\n",
     "\n",
     "sns.heatmap(corr, vmax=0.8, square=True)\n",
@@ -257,9 +257,7 @@
    "outputs": [],
    "source": [
     "# TODO: Implement method to compare across equations\n",
-    "params = []\n",
-    "for label in res.equation_labels:\n",
-    "    params.append(res.equations[label].params)\n",
+    "params = [res.equations[label].params for label in res.equation_labels]\n",
     "params = pd.concat(params, axis=1)\n",
     "params.columns = res.equation_labels\n",
     "params.T.style.format(\"{:0.3f}\")"
@@ -732,7 +730,6 @@
    "outputs": [],
    "source": [
     "import statsmodels.api as sm\n",
-    "\n",
     "from linearmodels.datasets import french\n",
     "\n",
     "data = french.load()\n",
@@ -779,7 +776,7 @@
    "name": "python",
    "nbconvert_exporter": "python",
    "pygments_lexer": "ipython3",
-   "version": "3.12.9"
+   "version": "3.13.7"
   },
   "pycharm": {
    "stem_cell": {
diff --git a/examples/system_three-stage-ls.ipynb b/examples/system_three-stage-ls.ipynb
index 0b9da5f41b..2b30ae18e4 100644
--- a/examples/system_three-stage-ls.ipynb
+++ b/examples/system_three-stage-ls.ipynb
@@ -135,7 +135,7 @@
    "metadata": {},
    "outputs": [],
    "source": [
-    "equations = dict(hours=hours, lwage=lwage)\n",
+    "equations = {\"hours\": hours, \"lwage\": lwage}\n",
     "system_2sls = IV3SLS.from_formula(equations, data)\n",
     "system_2sls_res = system_2sls.fit(method=\"ols\", cov_type=\"unadjusted\")\n",
     "print(system_2sls_res)"
@@ -154,7 +154,6 @@
    "metadata": {},
    "outputs": [],
    "source": [
-    "equations = dict(hours=hours, lwage=lwage)\n",
     "system_3sls = IV3SLS.from_formula(equations, data)\n",
     "system_3sls_res = system_3sls.fit(method=\"gls\", cov_type=\"unadjusted\")\n",
     "print(system_3sls_res)"
@@ -196,7 +195,7 @@
     "    \"instruments\": data[[\"age\", \"kidslt6\", \"nwifeinc\"]],\n",
     "}\n",
     "\n",
-    "equations = dict(hours=hours, lwage=lwage)\n",
+    "equations = {\"hours\": hours, \"lwage\": lwage}\n",
     "system_3sls = IV3SLS(equations)\n",
     "system_3sls_res = system_3sls.fit(cov_type=\"unadjusted\")\n",
     "print(system_3sls_res)"
@@ -223,10 +222,10 @@
    "metadata": {},
    "outputs": [],
    "source": [
-    "equations = dict(\n",
-    "    hours=\"hours ~ educ + age + kidslt6 + nwifeinc + [lwage ~ exper + expersq]\",\n",
-    "    lwage=\"lwage ~ educ + exper + expersq + [hours ~ age + kidslt6 + nwifeinc]\",\n",
-    ")\n",
+    "equations = {\n",
+    "    \"hours\": \"hours ~ educ + age + kidslt6 + nwifeinc + [lwage ~ exper + expersq]\",\n",
+    "    \"lwage\": \"lwage ~ educ + exper + expersq + [hours ~ age + kidslt6 + nwifeinc]\",\n",
+    "}\n",
     "system_gmm = IVSystemGMM.from_formula(equations, data, weight_type=\"unadjusted\")\n",
     "system_gmm_res = system_gmm.fit(cov_type=\"unadjusted\")\n",
     "print(system_gmm_res)"
@@ -295,7 +294,7 @@
     "in_sample = df.iloc[:-10000]\n",
     "oos = df.iloc[-10000:]\n",
     "mod = IV3SLS.from_formula(\n",
-    "    dict(y1=\"y1 ~  x1 + [y2 ~ x2]\", y2=\"y2 ~ x2 + [y1 ~ x1]\"), data=df\n",
+    "    {\"y1\": \"y1 ~  x1 + [y2 ~ x2]\", \"y2\": \"y2 ~ x2 + [y1 ~ x1]\"}, data=df\n",
     ")\n",
     "res = mod.fit()\n",
     "print(res)"
@@ -353,7 +352,7 @@
    "name": "python",
    "nbconvert_exporter": "python",
    "pygments_lexer": "ipython3",
-   "version": "3.12.9"
+   "version": "3.13.7"
   },
   "pycharm": {
    "stem_cell": {
diff --git a/linearmodels/_build/__init__.py b/linearmodels/_build/__init__.py
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/linearmodels/_build/git_version.py b/linearmodels/_build/git_version.py
new file mode 100644
index 0000000000..8f3fba9c3d
--- /dev/null
+++ b/linearmodels/_build/git_version.py
@@ -0,0 +1,88 @@
+#!/usr/bin/env python3
+from __future__ import annotations
+
+import os
+import setuptools_scm
+from packaging.version import Version
+from pathlib import Path
+
+ROOT = Path(__file__).parent.parent.parent.absolute()
+
+
+def get_version() -> tuple[str, tuple[int | str, ...]]:
+    _version = setuptools_scm.get_version(root=ROOT)
+    parsed_version = Version(_version)
+    version_fields: tuple[int | str, ...] = parsed_version.release
+    if parsed_version.epoch:
+        version_fields = (f"{parsed_version.epoch}!", *version_fields)
+    if parsed_version.pre is not None:
+        version_fields += (f"{parsed_version.pre[0]}{parsed_version.pre[1]}",)
+
+    if parsed_version.post is not None:
+        version_fields += (f"post{parsed_version.post}",)
+
+    if parsed_version.dev is not None:
+        version_fields += (f"dev{parsed_version.dev}",)
+
+    if parsed_version.local is not None:
+        version_fields += (parsed_version.local,)
+
+    return _version, version_fields
+
+
+def write_version_file(
+    filename: str, version: str, version_fields: tuple[int | str, ...]
+) -> None:
+    template = f"""# file generated by setuptools-scm
+# don't change, don't track in version control
+
+__all__ = ["__version__", "__version_tuple__", "version", "version_tuple"]
+
+TYPE_CHECKING = False
+if TYPE_CHECKING:
+    from typing import Tuple
+    from typing import Union
+
+    VERSION_TUPLE = Tuple[Union[int, str], ...]
+else:
+    VERSION_TUPLE = object
+
+version: str
+__version__: str
+__version_tuple__: VERSION_TUPLE
+version_tuple: VERSION_TUPLE
+
+__version__ = version = '{version}'
+__version_tuple__ = version_tuple = {version_fields}
+    """
+
+    with open(filename, "w") as f:
+        f.write(template)
+
+
+if __name__ == "__main__":
+    import argparse
+
+    parser = argparse.ArgumentParser()
+    parser.add_argument("--write", help="Save version to this file")
+    parser.add_argument(
+        "--meson-dist",
+        help="Output path is relative to MESON_DIST_ROOT",
+        action="store_true",
+    )
+    args = parser.parse_args()
+
+    version, version_tuple = get_version()
+
+    if args.write:
+        outfile = args.write
+        if args.meson_dist:
+            outfile = os.path.join(os.environ.get("MESON_DIST_ROOT", ""), outfile)
+
+        # Print human readable output path
+        relpath = os.path.relpath(outfile)
+        if relpath.startswith("."):
+            relpath = outfile
+        write_version_file(relpath, version, version_tuple)
+    else:
+        print(version)
diff --git a/linearmodels/meson.build b/linearmodels/meson.build
new file mode 100644
index 0000000000..cdbdc40576
--- /dev/null
+++ b/linearmodels/meson.build
@@ -0,0 +1,100 @@
+incdir_numpy = run_command(
+    py,
+    [
+        '-c',
+        '''
+import os
+cwd = os.getcwd()
+
+# Protect from import errors due to module names
+os.chdir(os.path.join('..', 'examples'))
+import numpy as np
+os.chdir(cwd)
+
+try:
+    # Check if include directory is inside the dir
+    # e.g. a venv created inside the dir
+    # If so, convert it to a relative path
+    incdir = os.path.relpath(np.get_include())
+except Exception as exc:
+    incdir = np.get_include()
+print(incdir)
+     ''',
+    ],
+    check: true,
+).stdout().strip()
+
+inc_np = include_directories(incdir_numpy, is_system: true)
+
+# Copy the main __init__.py to the build dir.
+# Some submodules (linalg, special, optimize) add pxd files to this.
+# Needed to trick Cython, it won't do a relative import outside a package
+_cython_tree = [fs.copyfile('__init__.py')]
+cython_args = [
+    '-Xcpow=True',
+    '-Xboundscheck=False',
+    '-Xwraparound=False',
+    '-Xcdivision=True',
+    '-Xbinding=True'
+]
+cython_c_args =  ['-DNPY_NO_DEPRECATED_API=NPY_1_7_API_VERSION']
+if get_option('cython-coverage')
+  message('Building with Cython coverage support')
+  cython_args += ['-Xlinetrace=True']
+  cython_c_args += ['-DCYTHON_TRACE=1']
+endif
+
+lm_dir = py.get_install_dir() / 'linearmodels'
+# Generate version.py for sdist
+meson.add_dist_script(
+   ['_build/git_version.py', '--meson-dist', '--write',
+     'linearmodels/_version.py']
+)
+if not fs.exists('_version.py')
+  generate_version = custom_target(
+    'generate-version',
+    install: true,
+    build_always_stale: true,
+    build_by_default: true,
+    output: '_version.py',
+    input: '_build/git_version.py',
+    command: [py, '@INPUT@', '--write', '@OUTPUT@'],
+    install_dir: lm_dir,
+    install_tag: 'python-runtime'
+  )
+else
+  # When building from sdist, version.py exists and should be included
+  py.install_sources(
+    ['_version.py'],
+    subdir : 'linearmodels'
+  )
+endif
+
+subdir('panel')
+
+subdirs_list = [
+    '__future__',
+    '_build',
+    'asset_pricing',
+    'compat',
+    'datasets',
+    'iv',
+    'panel',
+    'shared',
+    'system',
+    'tests',
+    'typing',
+]
+
+foreach subdir : subdirs_list
+    install_subdir(subdir, install_dir: py.get_install_dir() / 'linearmodels')
+endforeach
+
+top_level_py_list = [
+    '__init__.py',
+    'conftest.py',
+    'formula.py',
+    'py.typed',
+]
+
+py.install_sources(top_level_py_list, subdir: 'linearmodels')
diff --git a/linearmodels/panel/meson.build b/linearmodels/panel/meson.build
new file mode 100644
index 0000000000..d8ee29e76c
--- /dev/null
+++ b/linearmodels/panel/meson.build
@@ -0,0 +1,11 @@
+if not get_option('no-binary')
+    py.extension_module(
+        '_utility',
+        '_utility.pyx',
+        install: true,
+        include_directories: [inc_np],
+        subdir: 'linearmodels/panel',
+        cython_args: cython_args,
+        c_args: cython_c_args,
+    )
+endif
diff --git a/linearmodels/tests/panel/test_data.py b/linearmodels/tests/panel/test_data.py
index 4e5d79b6d7..1a8b118abb 100644
--- a/linearmodels/tests/panel/test_data.py
+++ b/linearmodels/tests/panel/test_data.py
@@ -663,7 +663,7 @@ def test_general_demean_oneway(mi_df):
     g = Categorical(g.iloc[:, 0])
     d = get_dummies(g)
     dm1 = y.values2d - d @ lstsq(d, y.values2d, rcond=None)[0]
-    assert_allclose(dm1, dm2.values2d)
+    assert_allclose(dm1, dm2.values2d, atol=1e-10)
 
 
 def test_general_demean_twoway(mi_df):
@@ -710,7 +710,7 @@ def test_general_unit_weighted_demean_oneway(mi_df):
     d = get_dummies(g)
     dm1 = y.values2d - d @ lstsq(d, y.values2d, rcond=None)[0]
     assert_allclose(dm1, dm2.values2d)
-    assert_allclose(dm3.values2d, dm2.values2d)
+    assert_allclose(dm3.values2d, dm2.values2d, atol=1e-10)
 
 
 def test_general_weighted_demean_oneway(mi_df):
diff --git a/linearmodels/tests/test_build.py b/linearmodels/tests/test_build.py
new file mode 100644
index 0000000000..b9785b0ec5
--- /dev/null
+++ b/linearmodels/tests/test_build.py
@@ -0,0 +1,36 @@
+import tempfile
+
+import pytest
+
+from linearmodels import __version__, version_tuple
+
+try:
+    from linearmodels._build.git_version import get_version, write_version_file
+
+    HAS_SETUPTOOLS_SCM = True
+except ImportError:
+    HAS_SETUPTOOLS_SCM = False
+
+
+@pytest.mark.skipif(not HAS_SETUPTOOLS_SCM, reason="setuptools_scm is not installed")
+def test_get_version():
+    try:
+        version, version_fields = get_version()
+
+        assert isinstance(version, str)
+        assert isinstance(version_fields, tuple)
+        assert all(isinstance(v, (int, str)) for v in version_fields)
+    except LookupError:
+        pytest.skip("No git repository found")
+
+
+@pytest.mark.skipif(not HAS_SETUPTOOLS_SCM, reason="setuptools_scm is not installed")
+def test_write_version_file():
+    with tempfile.NamedTemporaryFile(delete=False) as tmpfile:
+
+        write_version_file(tmpfile.name, __version__, version_tuple)
+        with open(tmpfile.name, "r") as f:
+            content = f.read()
+
+            assert f"__version__ = version = '{__version__}'" in content
+            assert f"__version_tuple__ = version_tuple = {version_tuple}" in content
diff --git a/meson.build b/meson.build
new file mode 100644
index 0000000000..e671988bd8
--- /dev/null
+++ b/meson.build
@@ -0,0 +1,22 @@
+project(
+  'linearmodels',
+  'c', 'cython',
+  license: 'NCSA',
+  meson_version: '>= 1.9.0',
+  default_options: [],
+  version:  run_command(['linearmodels/_build/git_version.py'], check: true).stdout().strip(),
+)
+
+cc = meson.get_compiler('c')
+cy = meson.get_compiler('cython')
+cython = find_program(cy.cmd_array()[0])
+
+if not cy.version().version_compare('>=3.0.10')
+  error('linearmodels requires Cython >= 3.0.10')
+endif
+
+py = import('python').find_installation(pure: false)
+fs = import('fs')
+
+py.install_sources('pyproject.toml', subdir: 'linearmodels')
+subdir('linearmodels')
diff --git a/meson.options b/meson.options
new file mode 100644
index 0000000000..63643b6ef7
--- /dev/null
+++ b/meson.options
@@ -0,0 +1,11 @@
+# Use this options by adding to the pip command:
+#     -Csetup-args="-Dcython-coverage=true"
+# then run:
+#     pytest --cov=statsmodels statsmodels
+#     coverage html
+option('cython-coverage', type: 'boolean', value: false,
+        description: 'Compile and build cython modules with coverage support')
+# Use this options by adding to the pip command:
+#     -Csetup-args="-Dno-binary=true"
+option('no-binary', type: 'boolean', value: false,
+        description: 'Do not build any Cython extensions')
diff --git a/pyproject.toml b/pyproject.toml
index e4ea263413..c0e2fb361c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,30 +1,25 @@
+[build-system]
+build-backend = 'mesonpy'
+requires = [
+  'meson-python',
+  "cython>=3.0.13,<4",  # Sync with CYTHON_MIN_VER in setup
+  "numpy>=2.0.0,<3",
+  "setuptools_scm>=9.2.0,<10",
+]
+
 [project]
 name = "linearmodels"
-readme = "README.md"
-license = "NCSA"
-license-files = [ "LICENSE.md" ]
-dynamic = ["dependencies", "version"]
-authors = [{ name = "Kevin Sheppard", email = "kevin.k.sheppard@gmail.com" }]
-maintainers = [
-  { name = "Kevin Sheppard", email = "kevin.k.sheppard@gmail.com" },
-]
-description = "Linear Panel, Instrumental Variable, Asset Pricing, and System Regression models for Python"
-requires-python = ">=3.10"
-keywords=[
-    "linear models",
-    "regression",
-    "instrumental variables",
-    "IV",
-    "panel",
-    "fixed effects",
-    "clustered",
-    "heteroskedasticity",
-    "endogeneity",
-    "instruments",
-    "statistics",
-    "statistical inference",
-    "econometrics",
+# Keep syned with requirements.txt
+dependencies = [
+  "numpy>=1.22.3,<3",
+  "pandas>=1.4.0",
+  "scipy>=1.8.0",
+  "statsmodels>=0.13.0",
+  "mypy_extensions>=0.4",
+  "pyhdfe>=0.1",
+  "formulaic>=1.2.1",
 ]
+authors = [{ name = "Kevin Sheppard", email = "kevin.k.sheppard@gmail.com" }]
 classifiers = [
   "Development Status :: 5 - Production/Stable",
   "Intended Audience :: End Users/Desktop",
@@ -41,6 +36,107 @@ classifiers = [
   "Programming Language :: Cython",
   "Topic :: Scientific/Engineering",
 ]
+description = "Linear Panel, Instrumental Variable, Asset Pricing, and System Regression models for Python"
+version = "7.0.0dev0"
+keywords=[
+  "linear models",
+  "regression",
+  "instrumental variables",
+  "IV",
+  "panel",
+  "fixed effects",
+  "clustered",
+  "heteroskedasticity",
+  "endogeneity",
+  "instruments",
+  "statistics",
+  "statistical inference",
+  "econometrics",
+]
+license = "NCSA"
+license-files = [ "LICENSE.md" ]
+maintainers = [
+  { name = "Kevin Sheppard", email = "kevin.k.sheppard@gmail.com" },
+]
+readme = "README.md"
+requires-python = ">=3.10"
+
+[project.optional-dependencies]
+test = [
+  # test
+  "pytest>=8.4.1,<9",
+  "pytest-randomly",
+  "pytest-xdist",
+  "pytest-cov",
+  "coverage[toml]",
+  "meson",
+  "ninja",
+]
+doc = [
+  # Documentation
+  "setuptools>=61",
+  "wheel",
+  "setuptools_scm[toml]>=8.0.3,<9",
+  "oldest-supported-numpy",
+  "cython>=3.0.13,<4",  # Sync with CYTHON_MIN_VER in setup
+  "numpy >=1.22",
+  "scipy >=1.5.0",
+  "ipython >=8.0.1",
+  "matplotlib >=3.0",
+  "patsy >=0.5.3",
+  "statsmodels >=0.13.5",
+  "jinja2",
+  "sphinx>=7",
+  "seaborn",
+  "numpydoc>=1.0.0",
+  "nbsphinx",
+  "sphinx-immaterial",
+  "jupyter",
+  "notebook",
+  "sphinx-autodoc-typehints",
+  "fonttools>=4.43.0", # not directly required, pinned by Snyk to avoid a vulnerability
+  "jupyterlab>=4.4.8", # not directly required, pinned by Snyk to avoid a vulnerability
+  "ipython>=7",
+  "sphinx_immaterial",
+  "nbconvert",
+  "pickleshare",
+  # Requirements for doc build, in addition to requirements.txt
+  "pandas~=2.3.3",
+  "sphinxcontrib-spelling",
+  "sphinx_autodoc_typehints",
+]
+dev = [
+  "xarray>=0.16",
+  "pandas-stubsl",
+  "wheel",
+  # versioning
+  "setuptools_scm[toml]>=9.2.0,<10",
+  "packaging",
+  # Performance
+  "cython>=3.0.10",
+  "numba>=0.55",
+  # Graphics
+  "matplotlib>=3",
+  "seaborn",
+  # Tests
+  "pytest>=8.4.1,<9",
+  "pytest-randomly",
+  "pytest-xdist",
+  "pytest-cov",
+  # formatting
+  "black[jupyter]~=25.9.0",
+  "isort~=6.0",
+  "colorama",
+  "flake8",
+  "flake8-bugbear",
+  "mypy>=1.3",
+  "ruff>=0.8.6",
+  "pyupgrade>=3.4.0",
+  "jupyterlab-code-formatter",
+  "jupyterlab>=4.4.8",  # not directly required, pinned by Snyk to avoid a vulnerability
+  "zipp>=3.19.1", # not directly required, pinned by Snyk to avoid a vulnerability
+]
+
 
 [project.urls]
 homepage = "https://github.com/bashtage/linearmodels"
@@ -48,21 +144,14 @@ documentation = "https://bashtage.github.io/linearmodels/"
 repository = "https://github.com/bashtage/linearmodels"
 changelog = "https://bashtage.github.io/linearmodels/changes.html"
 
-[build-system]
-requires = [
-  "setuptools>=61",
-  "wheel",
-  "setuptools_scm[toml]>=8,<9",
-  "numpy>=2.0.0rc1,<3",
-  "cython>=3.0.10,<4"
-]
-build-backend = "setuptools.build_meta"
+[tool.meson-python.args]
+setup = ['--vsenv']
 
 [tool.black]
-target-version = ['py39', 'py310', 'py311', 'py312', 'py313']
+target-version = ['py310', 'py311', 'py312', 'py313']
 exclude = '''
 (
-    \.egg
+  \.egg
   | \.git
   | \.mypy_cache
   | \.oytest_cache
@@ -73,17 +162,9 @@ exclude = '''
 )
 '''
 
-[tool.setuptools_scm]
-write_to = "linearmodels/_version.py"
-
 [tool.pyright]
 exclude = [
-    "**/tests/**",
-]
-
-[tool.mypy]
-exclude = [
-    "tests",
+  "**/tests/**",
 ]
 
 [tool.ruff]
@@ -92,7 +173,6 @@ fix = false
 target-version = "py310"
 
 [tool.ruff.lint]
-typing-modules = ["statsmodels.compat.python", "compat.python"]
 
 select = [
   # pyflakes
@@ -146,29 +226,33 @@ select = [
 ]
 
 ignore = [
-    # Required to allow black formatting
-    # Whitespace before ':' (Needed for black)
-    "E203",
-    # Line too long (### > 88 characters) (Needed for black)
-    "E501",
-    # Multiple statements on one line (colon) (E701)
-    "E701",
-    # Always ignore
-    # TC do not work with doc building
-    # Move application import `linearmodels....` into a type-checking block
-    "TC001",
-    # Move standard library import `...` into a type-checking block
-    "TC003",
-
-    #  ### Intentionally disabled
-    # Too many arguments to function call
-    "PLR0913", # 55
-    # Too many branches
-    "PLR0912", # 14
-    # Too many statements
-    "PLR0915", # 21
-    # Magic number
-    "PLR2004",
+  # Required to allow black formatting
+  # Whitespace before ':' (Needed for black)
+  "E203",
+  # Line too long (### > 88 characters) (Needed for black)
+  "E501",
+  # Multiple statements on one line (colon) (E701)
+  "E701",
+  # Always ignore
+  # TC do not work with doc building
+  # Move application import `linearmodels....` into a type-checking block
+  "TC001",
+  # Move third-party import `...` into a type-checking block
+  "TC002",
+  # Move standard library import `...` into a type-checking block
+  "TC003",
+
+  #  ### Intentionally disabled
+  # Too many arguments to function call
+  "PLR0913", # 55
+  # Too many branches
+  "PLR0912", # 14
+  # Too many statements
+  "PLR0915", # 21
+  # Magic number
+  "PLR2004",
+  # Like to suggest use [a, *b] instead of [a] + b
+  "RUF005",
 ]
 
 [tool.ruff.lint.per-file-ignores]
@@ -177,3 +261,138 @@ ignore = [
 "linearmodels/tests/panel/results/execute-stata-simulated-data.py" = ["E501"]
 # Results import models, avoid circular
 "linearmodels/iv/results.py" = ["PERF203", "PLC0415"]
+
+[tool.pytest.ini_options]
+minversion = "8.4.1"
+testpaths = "linearmodels"
+xfail_strict = true
+addopts = "--strict"
+empty_parameter_set_mark = "xfail"
+filterwarnings = [
+  "ignore:`formatargspec`:DeprecationWarning:statsmodels",
+  "ignore:Method .ptp is deprecated:FutureWarning",
+  "ignore:Traits should be given:DeprecationWarning",
+  "ignore:Using or importing the ABCs:DeprecationWarning",
+  "ignore:`nbconvert.exporters.exporter_locator` is deprecated:DeprecationWarning",
+  "ignore:Session._key_changed:DeprecationWarning",
+  "ignore:@asynchronous is deprecated:DeprecationWarning",
+  "error:A value is trying to be set::",
+  "error:The pandas.datetime class is deprecated:FutureWarning:",
+  "error:pandas.util.testing is deprecated:FutureWarning:",
+  "error:Support for multi-dimensional indexing:DeprecationWarning",
+  "error:multivariate_ls is deprecated:FutureWarning",
+  "error:invalid value encountered in true_divide:RuntimeWarning",
+  "ignore:The --strict option is deprecated, use --strict-markers instead:pytest.PytestDeprecationWarning",
+  "ignore:`np.bool` is a deprecated alias:DeprecationWarning:pyhdfe",
+  "ignore:defusedxml.cElementTree:DeprecationWarning:nbconvert",
+  "ignore:the imp module is deprecated in favour of importlib:DeprecationWarning:pywintypes",
+  "error:Setting an item of incompatible dtype:FutureWarning:",
+
+]
+junit_family = "xunit2"
+markers = [
+  "slow: mark a test as slow",
+  "smoke: mark a test as a coding error (smoke) test"
+]
+
+[tool.isort]
+profile = "black"
+src_paths = ["linearmodels"]
+sections = ["FUTURE","COMPAT","STDLIB","THIRDPARTY","FIRSTPARTY","LOCALFOLDER"]
+known_first_party = ["linearmodels"]
+known_compat = ["linearmodels.compat.*"]
+known_third_party=["Cython","numpy","matplotlib","pandas","pytest","cython","scipy","seaborn"]
+line_length=88
+force_grid_wrap=0
+multi_line_output=3
+combine_as_imports=true
+force_sort_within_sections=true
+include_trailing_comma=true
+use_parentheses=true
+
+[tool.coverage.run]
+source = ["linearmodels"]
+branch = true
+plugins = ["Cython.Coverage"]
+omit = [
+  # Version file
+  "*/_version.py",
+  # Compatibility code
+  "*/compat/*",
+  "*/results/*",
+  "*/conftest.py",
+]
+
+[tool.coverage.report]
+show_missing = true
+ignore_errors = false
+# Regexes for lines to exclude from consideration
+exclude_also = [
+  # Have to re-enable the standard pragma
+  "pragma: no cover",
+
+  # Do not complain about missing debug-only code:
+  "def __repr__",
+  "if self\\.debug",
+
+  # Don't complain if tests don't hit defensive assertion code:
+  "raise NotImplementedError",
+  "except NotImplementedError",
+  "raise AssertionError",
+  # Ignore pass
+  "pass",
+  # Ignore failure messages
+  "pytest.xfail",
+  # Ignore ImportError protection
+  "raise ImportError",
+  "except ImportError",
+  # Ignore type checking code
+  "if TYPE_CHECKING",
+  "elif TYPE_CHECKING",
+  # Cython function declarations
+  "cdef",
+  # Cython functions with void
+  "cdef void",
+  # Numba jit decorators
+  "@jit",
+  # Do not complain if non-runnable code is not run:
+  "if 0:",
+  "if __name__ == .__main__.:",
+]
+include = [ "*/linearmodels/*" ]
+omit = [
+  "*/_version.py",
+  "*/compat/*",
+  "*recursions.py",
+  "*samplers.py",
+]
+
+[tool.coverage.html]
+directory = "coverage_html_report"
+
+[tool.mypy]
+plugins="numpy.typing.mypy_plugin"
+exclude = [
+  "tests",
+]
+ignore_missing_imports=true
+no_implicit_optional=true
+strict_equality=true
+disallow_untyped_defs=true
+disallow_incomplete_defs=true
+show_error_context=true
+
+[mypy-linearmodels.conftest]
+check_untyped_defs=false
+disallow_untyped_defs=false
+
+[mypy-linearmodels._version]
+check_untyped_defs=false
+disallow_untyped_defs=false
+disallow_incomplete_defs=false
+
+[[tool.mypy.overrides]]
+module = "mypy-linearmodels.tests."
+check_untyped_defs=false
+disallow_untyped_defs=false
+disallow_incomplete_defs=false
diff --git a/requirements-dev.txt b/requirements-dev.txt
index 31550863ea..e425d0c1ea 100644
--- a/requirements-dev.txt
+++ b/requirements-dev.txt
@@ -1,29 +1,45 @@
+# Build and version
+meson-python>=0.18.0
+meson
+ninja
+setuptools_scm[toml]>=8.0.3,<9
+packaging
+wheel
+
+# Performance
 cython>=3.0.10
+
+# Testing
+pytest>=8.4.1,<9
+pytest-xdist
+pytest-cov
+pytest-randomly
+coverage[toml]
 xarray>=0.16
+matplotlib
+
+# Linting
 mypy>=1.3
 black[jupyter]~=25.9.0
-pytest>=8.4.1,<9
 isort>=5.12
-ipython
-matplotlib
 ruff>=0.8.6
-jupyterlab-code-formatter
 flake8
+flake8-bugbear
+pandas-stubs
+scipy-stubs
+
+# Docs
+ipython
 jupyter
+jupyterlab-code-formatter
 nbconvert
 nbformat
 nbsphinx
 numpydoc
-pandas-stubs
-pytest-xdist
-pytest-cov
 seaborn
-setuptools_scm[toml]>=8.0.3,<9
 sphinx
 sphinx-immaterial
 sphinxcontrib-spelling
 sphinx_autodoc_typehints
-wheel
-flake8-bugbear
 jupyterlab>=4.4.8 # not directly required, pinned by Snyk to avoid a vulnerability
 zipp>=3.19.1 # not directly required, pinned by Snyk to avoid a vulnerability
diff --git a/requirements-test.txt b/requirements-test.txt
index 3de9b20951..2b86893340 100644
--- a/requirements-test.txt
+++ b/requirements-test.txt
@@ -7,6 +7,7 @@ matplotlib
 pytest>=8.4.1,<9
 pytest-xdist
 pytest-cov
+pytest-randomly
 seaborn
 xarray>=0.13
 wheel
diff --git a/setup.cfg b/setup.cfg
index 7acfd7aeed..e69de29bb2 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,71 +0,0 @@
-[project]
-license = "NCSA"
-
-[flake8]
-max-line-length = 99
-ignore = E203,W503,BLK100
-per-file-ignores =
-    linearmodels/panel/data.py: E704
-    linearmodels/shared/utility.py: F811, E704
-    linearmodels/panel/utility.py: F811
-
-[tool:pytest]
-# Change syntax due to pytest bug
-minversion = 7
-testpaths = linearmodels
-addopts = --strict
-# Filter warnings generated by dependencies
-filterwarnings =
-    ignore:`formatargspec`:DeprecationWarning:statsmodels
-    ignore:Method .ptp is deprecated:FutureWarning
-    ignore:Traits should be given:DeprecationWarning
-    ignore:Using or importing the ABCs:DeprecationWarning
-    ignore:`nbconvert.exporters.exporter_locator` is deprecated:DeprecationWarning
-    ignore:Session._key_changed:DeprecationWarning
-    ignore:@asynchronous is deprecated:DeprecationWarning
-    error:A value is trying to be set::
-    error:The pandas.datetime class is deprecated:FutureWarning:
-    error:pandas.util.testing is deprecated:FutureWarning:
-    error:Support for multi-dimensional indexing:DeprecationWarning
-    error:multivariate_ls is deprecated:FutureWarning
-    error:invalid value encountered in true_divide:RuntimeWarning
-    ignore:The --strict option is deprecated, use --strict-markers instead:pytest.PytestDeprecationWarning
-    ignore:`np.bool` is a deprecated alias:DeprecationWarning:pyhdfe
-    ignore:defusedxml.cElementTree:DeprecationWarning:nbconvert
-    ignore:the imp module is deprecated in favour of importlib:DeprecationWarning:pywintypes
-    error:Setting an item of incompatible dtype:FutureWarning:
-
-markers =
-    slow: mark a test as slow
-    smoke: mark a test as a coding error (smoke) test
-
-[isort]
-sections=FUTURE,COMPAT,STDLIB,THIRDPARTY,FIRSTPARTY,LOCALFOLDER
-known_first_party=linearmodels
-known_third_party=Cython,numpy,matplotlib,pandas,pytest,statsmodels,seaborn
-known_compat=linearmodels.compat.*,setuptools,setuptools.*
-combine_as_imports=True
-force_sort_within_sections=True
-force_to_top=True
-profile=black
-
-[mypy]
-plugins=numpy.typing.mypy_plugin
-ignore_missing_imports=True
-no_implicit_optional=True
-strict_equality=True
-disallow_untyped_defs=True
-disallow_incomplete_defs=True
-
-[mypy-linearmodels.conftest]
-check_untyped_defs=False
-disallow_untyped_defs=False
-
-[mypy-linearmodels._version]
-check_untyped_defs=False
-disallow_untyped_defs=False
-
-[mypy-linearmodels.tests.*]
-check_untyped_defs=False
-disallow_untyped_defs=False
-disallow_incomplete_defs=False