Bio-Techne Corporation

TECH
Sector

Healthcare

Industry

Biotechnology

Market Cap

$11.80B

Employees

3K

Company Overview

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies. This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids. The Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications; and sells products for genetic carrier screening, oncology diagnostics, molecular controls, and research, as well as instruments and process control products for hematology, blood chemistry and gases, and coagulation controls and reagents used in various diagnostic applications. The company has strategic partnership with ALZpath, Inc. to accelerate breakthroughs in neurodegenerative disease research and treatment, including Alzheimer's disease. The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014. Bio-Techne Corporation was incorporated in 1976 and is headquartered in Minneapolis, Minnesota.

Filing Highlights

Key insights and themes extracted from this filing

9 Themes

Financial Performance

3 Insights

Consolidated net sales for the quarter ended September 30, 2024, were $289.5 million, an increase of 5% compared to the same prior year period. Organic growth for the quarter ended September 30, 2024, was 4% compared to the prior year, with foreign currency exchange impacting sales by approximately 1%.

Consolidated gross margin for the quarter ended September 30, 2024 was 63.2% compared to 66.9% for the same prior year period. Under purchase accounting, inventory is valued at fair value less expected selling and marketing costs, resulting in reduced margins in future periods as the inventory is sold.

Consolidated net earnings decreased to $33.6 million for the quarter ended September 30, 2024 as compared to $51.0 million in the same prior year period. This represents a significant decrease in profitability.

Growth & Strategy

3 Insights

Management Execution

3 Insights

Risk Factors

2 Insights

Competitive Position

1 Insight

Operational Efficiency

2 Insights

Innovation & Technology

1 Insight

Capital Allocation

3 Insights

Market Environment

1 Insight