BIO-TECHNE Corp Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>BIO-TECHNE Corp filed its Q2 FY2024 10-Q, detailing financial positions as of December 31, 2023.</b>

AI Summary

BIO-TECHNE Corp (TECH) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. BIO-TECHNE Corp filed a 10-Q report for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on June 30. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of various dates in 2022 and 2023. Information on accumulated translation adjustments, other comprehensive income, and net unrealized investment gain/loss is also present for multiple periods.

Why It Matters

For investors and stakeholders tracking BIO-TECHNE Corp, this filing contains several important signals. This 10-Q filing provides a detailed snapshot of BIO-TECHNE Corp's financial health and equity structure for the second quarter of fiscal year 2024. Investors and analysts can use this report to assess the company's financial performance, equity changes, and accumulated financial adjustments over recent periods.

Risk Assessment

Risk Level: low — BIO-TECHNE Corp shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or significant events.

Analyst Insight

Review the detailed balance sheet information and equity accounts in the 10-Q to understand changes in BIO-TECHNE Corp's financial structure.

Key Numbers

• 2023-12-31 — Period End Date (End of the reporting period for the 10-Q)
• 2024-02-07 — Filing Date (Date the 10-Q was filed with the SEC)
• 20231231 — Reported Fiscal Period End (Conformed period of report)
• 0630 — Fiscal Year End (BIO-TECHNE Corp's fiscal year end)

Key Players & Entities

• BIO-TECHNE Corp (company) — Filer of the 10-Q report
• Charles Kummeth (person) — Former President and Chief Executive Officer

FAQ

Industry Context

BIO-TECHNE Corp operates in the biotechnology and life sciences industry, focusing on diagnostic substances and biological products.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity from prior periods.
2. Review disclosures related to common stock, retained earnings, and additional paid-in capital.
3. Examine details on accumulated other comprehensive income and related components.

Key Dates

• 2023-12-31: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, representing a routine quarterly update. Specific comparative data from the previous filing is not detailed within this header information.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value TECH The NASDAQ Stock Mar

Filing Documents

• tmb-20231231x10q.htm (10-Q) — 2385KB
• tmb-20231231xex31d1.htm (EX-31.1) — 9KB
• tmb-20231231xex31d2.htm (EX-31.2) — 9KB
• tmb-20231231xex32d1.htm (EX-32.1) — 6KB
• tmb-20231231xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-000862.txt (&nbsp;) — 11981KB
• tmb-20231231.xsd (EX-101.SCH) — 52KB
• tmb-20231231_cal.xml (EX-101.CAL) — 85KB
• tmb-20231231_def.xml (EX-101.DEF) — 232KB
• tmb-20231231_lab.xml (EX-101.LAB) — 493KB
• tmb-20231231_pre.xml (EX-101.PRE) — 427KB
• tmb-20231231x10q_htm.xml (XML) — 3139KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 1 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32

: OTHER INFORMATION

PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 34

SIGNATURES

SIGNATURES 37 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME Bio-Techne Corporation and Subsidiaries (in thousands, except per share data) (unaudited) Quarter Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Net sales $ 272,598 $ 271,581 $ 549,533 $ 541,236 Cost of sales 96,011 88,221 187,755 178,280 Gross margin 176,587 183,360 361,778 362,956 Operating expenses: Selling, general and administrative 115,667 93,010 220,998 192,386 Research and development 22,916 22,459 46,914 46,362 Total operating expenses 138,583 115,469 267,912 238,748 Operating income 38,004 67,891 93,866 124,208 Other income (expense) ( 4,617 ) ( 1,462 ) ( 10,921 ) 45,938 Earnings before income taxes 33,387 66,429 82,945 170,146 Income taxes (benefit) 5,922 16,424 4,486 30,407 Net earnings, including noncontrolling interest 27,465 50,005 78,459 139,739 Net earnings attributable to noncontrolling interest — — — 179 Net earnings attributable to Bio-Techne $ 27,465 $ 50,005 $ 78,459 $ 139,560 Other comprehensive income (loss): Foreign currency translation income (loss) 18,025 17,370 6,423 ( 4,087 ) Foreign currency translation reclassified to earnings with Eminence deconsolidation — — — 119 Unrealized gains (losses) on derivative instruments - cash flow hedges, net of tax amounts disclosed in Note 8 ( 3,670 ) ( 685 ) ( 4,020 ) 4,010 Other comprehensive income (loss) 14,355 16,685 2,403 42 Other comprehensive income (loss) attributable to noncontrolling interest — — — ( 33 ) Other comprehensive income (loss) attributable to Bio-Techne 14,355 16,685 2,403 75 Comprehensive income attributable to Bio-Techne $ 41,820 $ 66,690 $ 80,862 $ 139,635 Earnings per share attributable to Bio-Techne: Basic $ 0.17 $ 0.32 $

View Full Filing

View this 10-Q filing on SEC EDGAR