The company completed the acquisition of Lunaphore for $169.7 million, a strategic move to expand its presence in the spatial biology market. This acquisition is expected to contribute to future growth in the Diagnostics and Genomics segment.

Subsequent to fiscal 2024, the company invested $15 million in Spear Bio, indicating a continued focus on innovative technologies. This investment suggests a strategic interest in ultra-sensitive immunoassays.

Bio-Techne will acquire the remaining ownership in Wilson Wolf by the end of calendar year 2027, if not earlier due to its achievement of revenue or earnings before interest, taxes, depreciation, and amortization (“EBITDA”) targets. This acquisition is a key element of the company's strategy to expand its offerings for the cell and gene therapy market.

Bio-Techne initiated an enterprise-wide restructuring focused on recovering operating margins, optimizing distribution footprint, and enhancing organizational efficiency. These actions impacted approximately 4% of the global workforce.

Kim Kelderman was promoted to President and Chief Executive Officer of the Company on February 1, 2024. This change in leadership could impact future strategic decisions and operational execution.

Bio-Techne highlights its commitment to attracting, developing, and retaining diverse talent, with 49% of the total employee population being female and 39% identified as nonwhite. The company has also implemented various employee-focused initiatives based on employee feedback.

The company acknowledges that conditions in the global economy, international political factors, and trade tensions can negatively impact operations and financial results. Specific events like the military conflict in Ukraine and trade tensions between the U.S. and China are mentioned.

The 10-K emphasizes the risks associated with acquisitions, including the inability to complete acquisitions at historical rates and the potential for acquired businesses to underperform. The company also acknowledges the challenges of integrating acquired businesses and the potential for impairment charges.

The company acknowledges the risk of significant disruption in or breach of security of its information technology systems or data, or violation of data privacy laws, which could result in damage to reputation, data integrity, and/or subject the company to costs, fines, or lawsuits.

Bio-Techne acknowledges intense competition across most of its product lines, ranging from start-up companies to large multinational corporations. The company also notes that consolidation trends in the pharmaceutical, biotechnology and diagnostics industries have served to create fewer customer accounts and to concentrate purchasing decisions for some customers, resulting in increased pricing pressure on us.

Bio-Techne emphasizes the importance of timely development and commercialization of new and enhanced products and services to meet customer needs. The company also recognizes the need to innovate and develop new technologies and applications, and acquire or obtain rights to third-party technologies that may have valuable applications in the markets it serves.

Bio-Techne states that it must differentiate its offerings from its competitors' offerings and avoid its products from becoming commodities. The company also states that it must stimulate customer demand for and convince customers to adopt new technologies.

The manufacture of many of the company's products is a complex process, and if the company directly or indirectly encounters problems manufacturing products, its business and financial results could suffer. Alternative manufacturing or sourcing is not always available on a timely basis to replace such production capacity.

The company relies upon sole or limited sources of supply for certain materials, components and services can cause production interruptions, delays and inefficiencies. The company also may not be able to adjust manufacturing capacity to reflect changes in market conditions or customer demand.

The Company relies heavily on internal manufacturing and related operations to produce, package and distribute its products which, if disrupted, could materially impair its business operations. The company's business could be adversely affected by disruptions at its sites.

The company states that its future success depends, to a large extent, on its ability to keep pace with changing technologies and market needs. Bio-Techne is engaged in continuous research and development in all of our major product lines. In fiscal 2024, we introduced over 800 new products.

The company states that many of the markets it serves are technology-driven, and as a result intellectual property rights play a significant role in product development and differentiation. The company owns numerous patents, trademarks, copyrights, trade secrets and other intellectual property and licenses to intellectual property owned by others, which in aggregate are important to its business.

The company states that it may be involved in disputes to determine the scope, coverage and validity of others' proprietary rights, or to defend against third-party claims of intellectual property infringement, any of which could be time-intensive and costly and may adversely impact our business.

The company repurchased $80 million in shares in fiscal 2024. The company's repurchase plan approved by the Board on February 2, 2022, granted management the discretion to mitigate the dilutive effect of stock option exercises.

The company paid annual cash dividends totaling $50.4 million. The Board of Directors periodically considers the payment of cash dividends, and there is no guarantee that the Company will pay comparable cash dividends, or any cash dividends, in the future.

Capital additions planned for fiscal 2025 are approximately $48 million and are expected to be financed through currently available cash and cash generated from operations. Fiscal 2024 capital expenditures related to investments in new buildings, machinery, construction in progress, and IT equipment.

The Company is committed to protecting the physical health, safety, and psychological well-being of our employees by providing a safe work environment and permitting hybrid work schedules wherever feasible.

The Company believes in giving back and in supporting the local communities in which we live and work. The Company and its employees donate financially and by giving their time and energy.

Climate change and/or related environmental risks, or legal or regulatory measures to address climate change and/or related environmental risks, may negatively affect the company. The company has significant operations in California, where serious drought has made water less available and more costly and has increased the risk of wildfires.

The healthcare and life sciences industries that we serve face constant pressures and changes in an effort to reduce healthcare costs or increase their predictability, all of which may adversely affect our business and financial results.

Our Diagnostics and Genomics segment products include applications in the medical diagnostics market, which relies largely on government healthcare-related policies and funding. Changes in government reimbursement for certain diagnostic tests or reductions in overall healthcare spending could negatively impact us directly or our customers and, correspondingly, our sales to them.

Our Protein Sciences segment products are sold primarily to research scientists at pharmaceutical and biotechnology companies and at university and government research institutions. Research and development spending by our customers and the availability of government research funding can fluctuate due to changes in available resources, mergers of pharmaceutical and biotechnology companies, spending priorities, general economic conditions and institutional and governmental budgetary policies.