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Bio-Techne Corporation

TECH

Bio-Techne Corporation • NASDAQ
$64.51 ▼ -0.19% (-0.12)
Market Cap $10.11 B
52w High $79.28
52w Low $46.01
Dividend Yield 0.32%
P/E 131.65
Volume 731.05K
Outstanding Shares 156.75M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $286.555M ▼ $139.403M ▼ $38.179M ▲ 13.323% ▲ $0.25 ▲ $77.799M ▲
Q4-2025 $316.964M ▲ $222.672M ▲ $-17.678M ▼ -5.577% ▼ $-0.11 ▼ $6.43M ▼
Q3-2025 $316.181M ▲ $175.848M ▲ $22.588M ▼ 7.144% ▼ $0.14 ▼ $67.852M ▼
Q2-2025 $297.031M ▲ $146.467M ▲ $34.89M ▲ 11.746% ▲ $0.22 ▲ $72.108M ▲
Q1-2025 $289.458M $143.03M $33.6M 11.608% $0.21 $70.484M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $144.962M ▼ $2.526B ▼ $560.334M ▼ $1.966B ▲
Q4-2025 $162.186M ▲ $2.558B ▼ $639.06M ▲ $1.919B ▼
Q3-2025 $140.67M ▼ $2.644B ▼ $626.234M ▲ $2.018B ▼
Q2-2025 $177.549M ▼ $2.67B ▼ $591.932M ▼ $2.078B ▼
Q1-2025 $187.54M $2.736B $597.367M $2.139B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $38.185M ▲ $27.585M ▼ $605K ▲ $-44.204M ▲ $-17.224M ▼ $22.222M ▼
Q4-2025 $-17.678M ▼ $98.201M ▲ $406K ▲ $-90.452M ▼ $21.516M ▲ $93.311M ▲
Q3-2025 $22.588M ▼ $41.12M ▼ $-8.873M ▼ $-68.045M ▲ $-36.879M ▼ $30.997M ▼
Q2-2025 $34.887M ▲ $84.346M ▲ $-5.032M ▲ $-83.837M ▼ $-9.991M ▼ $77.525M ▲
Q1-2025 $33.6M $63.889M $-21.684M $-11.571M $35.749M $54.717M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Consumables
Consumables
 $230.00M ▲$260.00M ▲$250.00M ▼$230.00M ▼
Instruments
Instruments
 $30.00M ▲$30.00M ▲$30.00M ▲$20.00M ▼
Royalty
Royalty
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Bio-Techne has grown its sales steadily over the past five years, showing that demand for its tools and reagents is trending in the right direction. Profitability, however, has clearly come under pressure in the last two years: operating profit, cash-style earnings, and earnings per share are all well below their earlier peaks. This suggests higher costs, heavier investment, slower demand in some end markets, or acquisition-related drag. The business remains profitable with healthy gross margins, but the story has shifted from “strong growth and expanding profits” to “steady growth with squeezed margins.” Future results will likely depend on how quickly the company can convert its newer platforms and acquisitions into higher-margin, scalable earnings.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and conservative. Assets and shareholder equity have grown over time, pointing to reinvestment in the business and accumulated value. Debt remains moderate relative to the size of the company, and cash balances have stayed fairly stable rather than being aggressively drawn down. This mix suggests the company is not over-leveraged and has room to keep investing, but also is not sitting on an unusually large war chest. The main question going forward is how efficiently this asset base and moderate leverage get translated into higher returns and profit growth.

Cash Flow

Cash Flow Cash generation is a key strength. The company has produced positive operating cash flow every year, and free cash flow has consistently been positive even after funding ongoing capital spending. Cash invested back into facilities and equipment has been relatively modest compared with the cash the business produces, which helps leave room for acquisitions, debt service, or shareholder returns. The slight softening in free cash flow compared with earlier years mirrors the margin pressure seen on the income statement, but the underlying cash engine still appears resilient. The focus going forward will be whether new growth areas can lift cash generation back toward prior highs.

Competitive Edge

Competitive Edge Bio-Techne operates in attractive niches of life sciences where customers value reliability, performance, and breadth of offering, and here the company is well positioned. It benefits from a very large product catalog, strong brands (especially in reagents) and a business model that ties recurring consumable sales to installed instruments. Its tools are embedded in customer workflows and cited in a large body of scientific literature, which makes switching away more difficult for researchers and labs. At the same time, it competes with some of the biggest players in the industry, who also invest heavily and have global scale. Overall, the company has a durable niche and clear strengths, but it must keep innovating to defend share in fast-moving fields like spatial biology and cell and gene therapy.

Innovation and R&D

Innovation and R&D Innovation is a clear centerpiece of Bio-Techne’s strategy. The company consistently reinvests a meaningful portion of its revenue into research and development, funding new products across cell and gene therapy, protein analysis, and spatial biology. Recent moves—such as the COMET spatial biology platform, GMP-grade reagent expansion, automated protein analysis systems, and AI-assisted protein design—aim to position the firm at the leading edge of high-growth scientific workflows. Strategic acquisitions like Lunaphore and Wilson Wolf are being used to accelerate this innovation rather than build everything in-house. The opportunity is significant, but execution risk is real: successfully integrating these technologies, scaling manufacturing, and driving broad adoption will be critical to turning R&D spending into durable profits.

Summary

Overall, Bio-Techne shows a combination of steady top-line growth, strong cash generation, and a robust innovation pipeline, offset by noticeable recent pressure on margins and earnings. The balance sheet is sound, with moderate leverage and stable cash levels, giving the company flexibility to keep investing and acquiring. Its competitive position is underpinned by a broad, high-quality product portfolio, entrenched customer relationships, and recurring consumable revenues, but it faces intense competition from much larger life science players. The long-term story hinges on whether the company can translate its leadership in areas like spatial biology, cell and gene therapy tools, and advanced protein analysis into renewed profit growth, while managing integration and market adoption risks. For observers, the key things to watch will be margin recovery, the performance of newly acquired platforms, and the pace at which new technologies move from promising to widely used and profitable.

NEWS

November 26, 2025 · 1:05 AM UTC

CMB.TECH announces Q3 2025 results

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November 25, 2025 · 7:00 AM UTC

Bio-Techne to Present at Upcoming Investor Conferences

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November 18, 2025 · 6:30 AM UTC

Bio-Techne Licenses AI-Designed NovoBody™ Duo Molecules from Monod Bio to Expand Recombinant Protein Portfolio

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November 14, 2025 · 2:15 AM UTC

PRESS RELEASE: CMB.TECH announces Q3 2025 results on 26/11/2025

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November 6, 2025 · 7:00 AM UTC

Bio-Techne to Present at Upcoming Investor Conferences

Read more