BIO-TECHNE Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>BIO-TECHNE Corp has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

BIO-TECHNE Corp (TECH) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. BIO-TECHNE Corp filed its 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on June 30. BIO-TECHNE Corp is incorporated in Minnesota (MN). The company's SIC code is 2836 for Biological Products (No Diagnostic Substances).

Why It Matters

For investors and stakeholders tracking BIO-TECHNE Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for BIO-TECHNE Corp. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the biotechnology sector.

Risk Assessment

Risk Level: — BIO-TECHNE Corp shows moderate risk based on this filing. The company's financial performance is subject to the inherent risks of the biotechnology industry, including regulatory changes and market competition, as detailed in its SEC filings.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-Q to understand BIO-TECHNE Corp's performance and potential challenges.

Key Players & Entities

• BIO-TECHNE Corp (company) — Filer of the 10-Q report
• 2024-03-31 (date) — Period ending date for the 10-Q filing
• 2024-05-06 (date) — Filing date of the 10-Q report
• MN (location) — State of incorporation for BIO-TECHNE Corp
• 2836 (industry_code) — Standard Industrial Classification code for BIO-TECHNE Corp

FAQ

Industry Context

BIO-TECHNE Corp operates in the biotechnology sector, which is characterized by rapid innovation, significant research and development, and stringent regulatory oversight.

Regulatory Implications

Companies in the biotechnology sector are subject to regulations from bodies like the FDA, impacting product development, approval processes, and market access.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for revenue, net income, and other key performance indicators.
2. Examine the 'Risk Factors' section for any new or evolving risks that could impact BIO-TECHNE Corp.
3. Compare the current quarter's performance against historical data and analyst expectations.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q
• 2024-05-06: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This filing represents the most recent quarterly update for BIO-TECHNE Corp, providing current financial data and disclosures.

Key Financial Figures

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

Filing Documents

• tmb-20240331x10q.htm (10-Q) — 2595KB
• tmb-20240331xex31d1.htm (EX-31.1) — 9KB
• tmb-20240331xex31d2.htm (EX-31.2) — 9KB
• tmb-20240331xex32d1.htm (EX-32.1) — 6KB
• tmb-20240331xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-006803.txt (&nbsp;) — 12895KB
• tmb-20240331.xsd (EX-101.SCH) — 53KB
• tmb-20240331_cal.xml (EX-101.CAL) — 85KB
• tmb-20240331_def.xml (EX-101.DEF) — 233KB
• tmb-20240331_lab.xml (EX-101.LAB) — 499KB
• tmb-20240331_pre.xml (EX-101.PRE) — 429KB
• tmb-20240331x10q_htm.xml (XML) — 3509KB

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 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 37

: OTHER INFORMATION

PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39

SIGNATURES

SIGNATURES 42 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 Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Net sales $ 303,428 $ 294,146 $ 852,961 $ 835,382 Cost of sales 98,829 91,984 286,584 270,265 Gross margin 204,599 202,162 566,377 565,117 Operating expenses: Selling, general and administrative 111,840 99,238 332,839 291,624 Research and development 25,761 22,713 72,675 69,074 Total operating expenses 137,601 121,951 405,514 360,698 Operating income 66,998 80,211 160,863 204,419 Other income (expense) ( 5,914 ) ( 15 ) ( 16,835 ) 45,924 Earnings before income taxes 61,084 80,196 144,028 250,343 Income taxes 12,025 9,978 16,511 40,385 Net earnings, including noncontrolling interest 49,059 70,218 127,517 209,958 Net earnings attributable to noncontrolling interest — — — 179 Net earnings attributable to Bio-Techne $ 49,059 $ 70,218 $ 127,517 $ 209,779 Other comprehensive income (loss): Foreign currency translation income (loss) ( 11,981 ) 3,282 ( 5,558 ) ( 805 ) 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 8 335 ( 1,708 ) ( 3,685 ) 2,302 Other comprehensive income (loss) ( 11,646 ) 1,574 ( 9,243 ) 1,616 Other comprehensive income (loss) attributable to noncontrolling interest — — — ( 33 ) Other comprehensive income (loss) attributable to Bio-Techne ( 11,646 ) 1,574 ( 9,243 ) 1,649 Comprehensive income attributable to Bio-Techne $ 37,413 $ 71,792 $ 118,274 $ 211,428 Earnings per share attributable to Bio-Techne: Basic $ 0.31

View Full Filing

View this 10-Q filing on SEC EDGAR