Bio-Techne Corp. Files 2024 10-K

TL;DR

Bio-Techne filed its 2024 10-K. All good.

AI Summary

Bio-Techne Corp. filed its 2024 10-K report on August 22, 2024, detailing its fiscal year ending June 30, 2024. The company, formerly known as Techne Corp. /MN/, is based in Minneapolis, MN. This filing provides a comprehensive overview of the company's financial performance and business operations for the past fiscal year.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed look at Bio-Techne's financial health and strategic direction for the fiscal year ending June 30, 2024.

Risk Assessment

Risk Level: low — This is a standard annual financial filing with no immediate red flags.

Key Numbers

• 20240630 — Fiscal Year End (The end date of the reporting period.)
• 20240822 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• BIO-TECHNE Corp (company) — Filer
• 20240630 (date) — Fiscal Year End
• 20240822 (date) — Filing Date
• MINNEAPOLIS (location) — Company Headquarters
• MN (location) — Company Headquarters State
• TECHNE CORP /MN/ (company) — Former Company Name

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value TECH The NASDAQ Stock Mar
• $77.16 — as reported on The Nasdaq Stock Market ($77.16 per share). Shares of Common Stock held

Filing Documents

• tech-20240630x10k.htm (10-K) — 3495KB
• tech-20240630xex4d1.htm (EX-4.1) — 21KB
• tech-20240630xex19.htm (EX-19) — 51KB
• tech-20240630xex21.htm (EX-21) — 8KB
• tech-20240630xex23.htm (EX-23) — 5KB
• tech-20240630xex31d1.htm (EX-31.1) — 14KB
• tech-20240630xex31d2.htm (EX-31.2) — 14KB
• tech-20240630xex32d1.htm (EX-32.1) — 7KB
• tech-20240630xex32d2.htm (EX-32.2) — 7KB
• tech-20240630xex97.htm (EX-97) — 30KB
• tech-20240630x10k005.jpg (GRAPHIC) — 30KB
• 0001558370-24-012430.txt ( ) — 16184KB
• tech-20240630.xsd (EX-101.SCH) — 70KB
• tech-20240630_cal.xml (EX-101.CAL) — 112KB
• tech-20240630_def.xml (EX-101.DEF) — 302KB
• tech-20240630_lab.xml (EX-101.LAB) — 706KB
• tech-20240630_pre.xml (EX-101.PRE) — 597KB
• tech-20240630x10k_htm.xml (XML) — 3803KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 30 Item 1C. Cybersecurity 30 Item 2.

Properties

Properties 31 Item 3.

Legal Proceedings

Legal Proceedings 32 Item 4. Mine Safety Disclosures 32 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6.

Selected Financial Data

Selected Financial Data 35 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 90 Item 9A.

Controls and Procedures

Controls and Procedures 90 Item 9B. Other Information 91 PART III Item 10. Directors, Executive Officers 92 Item 11.

Executive Compensation

Executive Compensation 92 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 92 Item 13. Certain Relationships and Related Transactions, and Director Independence 92 Item 14. Principal Accounting Fees and Services 92 PART IV Item 15. Exhibits, Financial Statement Schedules 93

SIGNATURES

SIGNATURES 97 2 Table of Contents In this Annual Report, the terms "Bio-Techne" or the "Company" refer to Bio-Techne Corporation, Bio-Techne Corporation and its consolidated subsidiaries, or the consolidated subsidiaries of Bio-Techne Corporation, as the context requires. FORWARD-LOOKING INFORMATION AND CAUTIONARY STATEMENTS Certain statements included or incorporated by reference in this Annual Report, in other documents we file with or furnish to the Securities and Exchange Commission ("SEC"), in our press releases, webcasts, conference calls, materials delivered to shareholders and other communications, are "forward-looking statements" within the meaning of the U.S. federal securities laws. All statements other than historical factual information are forward-looking statements, including without limitation statements regarding: projections of revenue, expenses, profit, profit margins, pricing, tax rates, tax provisions, cash flows, our liquidity position or other projected financial measures; management's plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, strategic opportunities, dividends and executive compensation; growth, declines and other trends in markets we sell into; new or modified laws, regulations and accounting pronouncements; future regulatory approvals and the timing and conditionality thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; general economic and capital markets conditions; the anticipated timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that Bio-Techne intends or believes will or may occur in the future. Terminology suc

BUSINESS

ITEM 1. BUSINESS OVERVIEW Bio-Techne and its subsidiaries, collectively doing business as Bio-Techne Corporation (Bio-Techne, we, our, us or the Company), develop, manufacture and sell life science reagents, instruments and services for the research, diagnostics and bioprocessing markets worldwide. With our broad product portfolio and application expertise, we sell integral components of scientific investigations into biological processes and molecular diagnostics, revealing the nature, diagnosis, etiology and progression of specific diseases. Our products aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. We manage the business in two operating segments – our Protein Sciences segment and our Diagnostics and Genomics segment. Our Protein Sciences segment is a leading developer and manufacturer of high-quality biological reagents used in all aspects of life science research, diagnostics and cell and gene therapy. This segment also includes proteomic analytical tools, both manual and automated, that offer researchers and pharmaceutical manufacturers efficient and streamlined options for protein analysis, automated western blot, and multiplexed ELISA workflows. Our Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for the 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. We are a Minnesota corporation with our global headquarters in Minneapolis, Minnesota. We were founded in 1976 as Research and Diagnostic Systems, Inc. We became a publicly traded company in 1985 through a merger with Techne Corporation, now Bio-Techne Corporation. Our common stock is listed on the NASDAQ under the symbol "TECH." We operate globally, with offices in many locations th

View Full Filing

View this 10-K filing on SEC EDGAR