Bio-Techne Corp. Files Q1 2025 10-Q
Ticker: TECH · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 842023
| Field | Detail |
|---|---|
| Company | Bio-Techne Corp (TECH) |
| Form Type | 10-Q |
| Filed Date | Nov 5, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, earnings, biotech
TL;DR
**BIO-TECHNE files Q1 10-Q, check financials for latest performance.**
AI Summary
Bio-Techne Corp. reported its first quarter results for the fiscal year ending June 30, 2025. The company's filing on November 5, 2024, covers the period ending September 30, 2024. Specific financial figures for this quarter were not detailed in the provided header information.
Why It Matters
This filing provides investors with an update on Bio-Techne's financial performance and operational status for the initial quarter of its fiscal year.
Risk Assessment
Risk Level: low — The provided text is a standard 10-Q filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high risk.
Key Players & Entities
- BIO-TECHNE Corp (company) — Filer of the 10-Q
- 0001558370-24-014439 (other) — Accession Number for the filing
- 20240930 (date) — End of the reporting period
- 20241105 (date) — Filing date
- 0000842023 (other) — Central Index Key for Bio-Techne Corp
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240930, meaning the filing covers the quarter ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was made on November 5, 2024.
What is Bio-Techne Corp.'s Central Index Key (CIK)?
Bio-Techne Corp.'s Central Index Key is 0000842023.
In which state was Bio-Techne Corp. incorporated?
Bio-Techne Corp. was incorporated in Minnesota (MN).
What is the SIC code for Bio-Techne Corp.'s industry?
The Standard Industrial Classification code for Bio-Techne Corp. is 2836, which corresponds to Biological Products (No Diagnostic Substances).
Filing Stats: 4,406 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2024-11-05 16:31:30
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value TECH The NASDAQ Stock Mar
Filing Documents
- tech-20240930x10q.htm (10-Q) — 1833KB
- tech-20240930xex31d1.htm (EX-31.1) — 9KB
- tech-20240930xex31d2.htm (EX-31.2) — 9KB
- tech-20240930xex32d1.htm (EX-32.1) — 6KB
- tech-20240930xex32d2.htm (EX-32.2) — 6KB
- 0001558370-24-014439.txt ( ) — 9911KB
- tech-20240930.xsd (EX-101.SCH) — 51KB
- tech-20240930_cal.xml (EX-101.CAL) — 78KB
- tech-20240930_def.xml (EX-101.DEF) — 206KB
- tech-20240930_lab.xml (EX-101.LAB) — 453KB
- tech-20240930_pre.xml (EX-101.PRE) — 389KB
- tech-20240930x10q_htm.xml (XML) — 2432KB
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 23 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 30
: OTHER INFORMATION
PART II: OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 30 Item 1A.
Risk Factors
Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32
SIGNATURES
SIGNATURES 35 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 September 30, 2024 2023 Net sales $ 289,458 $ 276,935 Cost of sales 106,441 91,744 Gross margin 183,017 185,191 Operating expenses: Selling, general and administrative 119,161 105,331 Research and development 23,869 23,998 Total operating expenses 143,030 129,329 Operating income 39,987 55,862 Other income (expense) 184 ( 6,304 ) Earnings before income taxes 40,171 49,558 Income taxes 6,571 ( 1,435 ) Net earnings $ 33,600 $ 50,993 Other comprehensive income (loss): Foreign currency translation income (loss) 21,256 ( 11,602 ) Unrealized gains (losses) on derivative instruments - cash flow hedges, net of tax amounts disclosed in Note 8 ( 3,027 ) ( 350 ) Other comprehensive income (loss) 18,229 ( 11,952 ) Comprehensive income $ 51,829 $ 39,041 Earnings per share: Basic $ 0.21 $ 0.32 Diluted $ 0.21 $ 0.31 Weighted average common shares outstanding: Basic 158,531 158,130 Diluted 161,115 161,940 See Notes to Condensed Consolidated Financial Statements. 1 Table of Contents CONDENSED CONSOLIDATED BALANCE SHEETS Bio-Techne Corporation and Subsidiaries (in thousands, except share and per share data) September 30, 2024 June 30, (unaudited) 2024 ASSETS Current assets: Cash and cash equivalents $ 187,540 $ 151,791 Short-term available-for-sale investments — 1,072 Accounts receivable, less allowance for doubtful accounts of $ 4,904 and $ 4,386 , respectively 223,688 241,394 Inventories 185,041 179,731 Current assets held-for-sale 9,459 9,773 Other current assets 42,839 33,658 Total current assets 648,567 617,419 Property and equipment, net 253,939 251,154 Right-of-use assets