BIO-TECHNE Corp

Listed Company

TECHCIK 0000842023NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)MinnesotaFY ends Jun 30

Period

FY 2025

Revenue

$1.22B

Net Income

$73.40M

Total Assets

$2.56B

Equity

$1.92B

Shares Out

156.45M

Op. Cash Flow

$287.56M

Business

Bio-Techne develops, manufactures and sells life science reagents, instruments and services for the research, diagnostics and bioprocessing markets worldwide. Its product offerings include specialized proteins, antibodies, small molecules, tissue culture sera, cell selection technologies, proteomic analytical instruments, automated and manual immunoassays, spatial biology in‑situ hybridization assays, exosome‑based molecular diagnostics, diagnostic reagents and related laboratory services. The company operates two reporting segments — Protein Sciences (Reagent Solutions and Analytical Solutions) and Diagnostics and Spatial Biology (Spatial Biology, Molecular Diagnostics and Diagnostic Reagents). It distributes products globally through direct sales, distributors, OEM agreements and strategic partnerships across North America, Europe, China and other regions.

Summary from filing dated 2025-08-22

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	1,220	1,159	1,137	1,106	931
Cost of sales	429	389	367	349	298
Gross margin	790	770	770	756	633
Selling, general and administrative	589	466	378	373	325
Research and development	99	97	92	87	71
Total operating expenses	688	563	471	460	396
Operating income	102	207	299	297	237
Interest expense	−9	−16	−11	−11	—
Interest income	4	3	3	—	—
Other non-operating income (expense), net	831,000	−9	48	15	−76
Total other income (expense), net	−4	−21	40	5	−89
Earnings before income taxes	98	186	339	301	148
Income taxes	25	18	53	38	9
Net earnings	73	168	285	263	140
Net earnings attributable to noncontrolling interest	—	—	179,000	−9	−825,000
Net earnings attributable to Bio-Techne	73	168	285	272	140
Foreign currency translation income (loss)	24	−7	4	−32	33
Foreign currency translation reclassified to earnings with Eminence deconsolidation	—	—	119,000	—	—
Unrealized gains (losses) on derivative instruments - cash flow hedges, net of tax	−6	−5	5	14	7
Other comprehensive income (loss)	18	−12	9	−18	40
Other comprehensive income (loss) attributable to noncontrolling interest	—	—	−33,000	−70,000	103,000
Other comprehensive income (loss) attributable to Bio-Techne	18	−12	9	−18	40
Comprehensive income	92	156	294	254	180
Basic (in dollars per share)	0.47	1.07	1.81	1.73	0.91
Diluted (in dollars per share)	0.46	1.05	1.76	1.66	0.87
Basic (in shares)	158	158	157	157	155
Diluted (in shares)	160	161	162	164	162

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	162	152	181	173	199
Short-term available-for-sale investments	—	1	24	74	—
Accounts receivable, less allowances of $4,215 and $4,386, respectively	207	241	218	195	145
Inventories	189	180	172	141	117
Current assets held-for-sale	12	10	—	—	—
Other current assets	37	34	27	23	17
Total current assets	608	617	621	606	511
Property and equipment, net	246	251	226	223	208
Right-of-use assets	73	91	98	66	74
Goodwill	981	973	873	822	843
Intangible assets, net	366	507	535	532	616
Deferred tax asset	10	—	—	—	—
Other assets	274	264	285	47	12
Total assets	2,558	2,704	2,639	2,295	2,263
Trade accounts payable	25	38	26	34	29
Salaries, wages and related accruals	66	50	37	62	51
Accrued expenses	26	25	15	18	15
Contract liabilities	33	28	23	23	19
Income taxes payable	11	4	12	13	5
Operating lease liabilities - current	14	13	11	12	12
Other current liabilities	2	2	1	1	4
Total current liabilities	176	159	129	176	152
Deferred income taxes	6	56	89	99	93
Long-term debt obligations	346	319	350	243	329
Operating lease liabilities	84	88	94	58	68
Other long-term liabilities	27	13	11	12	24
Undesignated capital stock, no par; authorized 5,000,000 shares; none issued or outstanding	0	0	0	0	0
Common stock, par value $.01 per share; authorized 400,000,000; issued and outstanding 154,972,196 and 158,216,258 respectively	2	2	2	2	390,000
Additional paid-in capital	911	820	722	652	534
Retained earnings	1,066	1,325	1,309	1,123	1,085
Accumulated other comprehensive loss	−60	−78	−66	−75	−57
Total Bio-Techne's shareholders' equity	1,919	2,069	1,967	1,701	1,571
Total liabilities and shareholders' equity	2,558	2,704	2,639	2,295	2,263

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	110	112	107	101	88
Costs recognized on sale of acquired inventory	751,000	729,000	400,000	2	2
Deferred income taxes	−51	−39	−30	7	−27
Stock-based compensation expense	41	38	39	42	49
Fair value adjustment to contingent consideration payable	—	−4	−12	−20	5
Gain on sale of CCXI investment	—	—	−37	—	0
(Gain) Loss on equity method investment	−938,000	7	1	—	—
Asset impairment restructuring	21	3	—	546,000	—
Gain on sale of Eminence	—	—	−12	—	—
Leases, net	685,000	2	2	−1	75,000
Impairment (recovery) of assets held-for-sale	81	22	—	—	—
Other operating activity	675,000	301,000	−17,000	668,000	−464,000
Trade accounts and other receivables, net	34	−21	−21	−58	−16
Inventories	−18	−14	−30	−32	−7
Prepaid expenses	−14	−3	−5	−3	−1
Trade accounts payable, accrued expenses, contract liabilities, and other	−14	26	−8	13	19
Salaries, wages and related accruals	15	13	−25	8	21
Income taxes receivable	8	−11	−2	3	13
Net cash provided by (used in) operating activities	288	299	254	325	352
Proceeds from sale of available-for-sale investments	1	28	35	26	—
Purchases of available-for-sale investments	—	−6	−21	−53	−40
Proceeds from sale of CCXI investment	—	—	73	—	—
Additions to property and equipment	−31	−63	−38	−45	−44
Acquisitions, net of cash acquired	—	−170	−101	—	−225
Distributions from (Investments in) Wilson Wolf	7	7	−232	—	—
Proceeds from sale of Eminence	—	—	18	—	—
Investment in Spear Bio	−15	—	—	—	—
Proceeds from sale of assets held-for-sale	2	—	—	—	—
Net cash provided by (used in) investing activities	−35	−203	−266	−97	−244
Cash dividends	−50	−50	−50	−50	−50
Proceeds from stock option exercises	52	61	30	77	65
Re-purchases of common stock	−276	−80	−20	−161	−43
Borrowings under line-of-credit agreement	104	225	620	90	256
Repayments of long-term debt	−77	−256	−526	−176	−272
Taxes paid on RSUs and net share settlements	−7	−22	−29	−24	−19
Other financing activity	—	—	−2	788,000	−19
Net cash provided by (used in) financing activities	−254	−122	23	−243	−63
Effect of exchange rate changes on cash and cash equivalents	12	−2	−3	−12	6
Net change in cash and cash equivalents	10	−29	8	−27	52

Filings

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