• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Bio-Rad Reports First-Quarter 2025 Financial Results

    5/1/25 4:15:00 PM ET
    $BIO
    Biotechnology: Laboratory Analytical Instruments
    Industrials
    Get the next $BIO alert in real time by email

    Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced financial results for the first quarter ended March 31, 2025.

    Norman Schwartz, Bio-Rad's Chairman and Chief Executive Officer, stated: "We navigated a highly dynamic first quarter that became progressively more challenging, yet we delivered solid margins through focused execution and careful expense management. Given the current levels of market uncertainty, we are moderating our full-year 2025 outlook to reflect the evolving macro environment. Going forward, we remain committed to advancing our growth and margin expansion initiatives."

    Financial Results Highlights

    GAAP Results

     

    Q1 2025

    Q1 2024

    Revenue (millions)

    $

    585.4

     

    $

    610.8

     

    Gross margin

     

    52.3

    %

     

    53.4

    %

    Net income (millions)

    $

    64.0

     

    $

    383.9

     

    Income per diluted share

    $

    2.29

     

    $

    13.45

     

     

    Non-GAAP Results

     

    Q1 2025

    Q1 2024

    Revenue (millions)

    $

    585.4

     

    $

    610.8

     

    Gross margin

     

    53.8

    %

     

    54.2

    %

    Net income (millions)

    $

    71.0

     

    $

    65.3

     

    Income per diluted share

    $

    2.54

     

    $

    2.30

     

     

    The non-GAAP financial measures shown in the table above and discussed below exclude certain items detailed later in this press release under the heading "Use of Non-GAAP and Currency-Neutral Reporting." A reconciliation between historical GAAP operating results and non-GAAP operating results is provided following the financial statements that are part of this press release.

    First-Quarter 2025 Results

    First-quarter 2025 total net sales were $585.4 million, a decrease of 4.2 percent compared to $610.8 million reported for the first quarter of 2024. On a currency-neutral basis, quarterly sales decreased 1.5 percent compared to the same period in 2024, primarily due to lower sales in our Life Science segment.

    Life Science segment net sales for the first quarter were $228.6 million, a decrease of 5.4 percent compared to the same period in 2024. On a currency-neutral basis, Life Science segment sales decreased by 3.5 percent compared to the same quarter in 2024. The currency-neutral year-over-year sales decrease was driven by ongoing challenges in the academic research market, particularly in the Americas.

    Clinical Diagnostics segment net sales for the first quarter were $356.8 million, a decrease of 3.2 percent compared to the same period in 2024. On a currency-neutral basis, net sales decreased 0.1 percent versus the same quarter last year. The currency-neutral year-over-year sales decrease was primarily driven by lowered reimbursements for diabetes testing in China, partially offset by increased demand for our quality control products.

    First-quarter gross margin was 52.3 percent compared to 53.4 percent during the first quarter of 2024.

    Income from operations during the first quarter of 2025 was $23.7 million versus $44.6 million during the same quarter last year.

    During the first quarter of 2025, the company recognized a change in the fair market value of its investment in Sartorius AG, which substantially contributed to a net income of $64.0 million, or $2.29 per share, on a diluted basis, versus a net income of $383.9 million, or $13.45 per share, on a diluted basis, reported for the same period of 2024.

    The effective tax rate for the first quarter of 2025 was 23.3 percent, compared to 21.8 percent for the same period in 2024. The higher rate in 2025 was driven by geographical mix of earnings.

    Non-GAAP gross margin was 53.8 percent for the first quarter of 2025 compared to 54.2 percent during the first quarter of 2024.

    Non-GAAP income from operations during the first quarter of 2025 was $63.0 million versus $59.0 million during the comparable prior-year period.

    Non-GAAP net income for the first quarter of 2025 was $71.0 million, or $2.54 per share, on a diluted basis, compared to $65.3 million, or $2.30 per share, on a diluted basis, during the same period in 2024.

    The non-GAAP effective tax rate for the first quarter of 2025 was 20.6 percent, compared to 22.4 percent for the same period in 2024. The lower rate in 2025 was driven by geographical mix of earnings.

    Updated Full-Year 2025 Financial Outlook

    Bio-Rad is updating its financial outlook for the full year 2025. The company currently expects non-GAAP, currency-neutral revenue to range from approximately a 1.0 percent decline to 1.5 percent growth versus its prior revenue growth estimate of approximately 1.5 to 3.5 percent, and an estimated non-GAAP operating margin of approximately 10.0 to 12.0 percent compared to its prior expectation of approximately 13.0 to 13.5 percent.

    Conference Call and Webcast

    Management will discuss the company's first quarter 2025 results and financial outlook in a conference call scheduled for 2:30 PM Pacific Time (5:30 PM Eastern Time) on May 1, 2025. To participate, dial (800) 715-9871 within the U.S., or (+1) (646) 307-1963 from outside the U.S., and provide access code: 9562470.

    A live webcast of the conference call will also be available in the "Investor Relations" section of the company's website under "Events & Presentations" at investors.bio-rad.com. A replay of the webcast will be available for up to a year.

    Use of Non-GAAP and Currency-Neutral Reporting

    In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including non-GAAP net income and non-GAAP EPS, which exclude amortization of acquisition-related intangible assets, certain acquisition-related expenses and benefits, restructuring charges, asset impairment charges, gains and losses from change in fair market value of equity securities and loan receivable, gains and losses on equity-method investments, and significant legal-related charges or benefits and associated legal costs. Non-GAAP net income and non-GAAP EPS also exclude certain other gains and losses that are either isolated or cannot be expected to occur again with any predictability, tax provisions/benefits related to the previous items, and significant discrete tax events. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods.

    We utilize a number of different financial measures, both GAAP and non-GAAP, in analyzing and assessing the overall performance of our business, in making operating decisions, forecasting and planning for future periods, and determining payments under compensation programs. We consider the use of the non-GAAP measures to be helpful in assessing the performance of the ongoing operation of our business. We believe that disclosing non-GAAP financial measures provides useful supplemental data that, while not a substitute for financial measures prepared in accordance with GAAP, allows for greater transparency in the review of our financial and operational performance. We also believe that disclosing non-GAAP financial measures provides useful information to investors and others in understanding and evaluating our operating results and future prospects in the same manner as management and in comparing financial results across accounting periods and to those of peer companies. More specifically, management adjusts for the excluded items for the following reasons:

    Amortization of purchased intangible assets: we do not acquire businesses and assets on a predictable cycle. The amount of purchase price allocated to purchased intangible assets and the term of amortization can vary significantly and are unique to each acquisition or purchase. We believe that excluding amortization of purchased intangible assets allows the users of our financial statements to better review and understand the historic and current results of our operations, and also facilitates comparisons to peer companies.

    Acquisition-related expenses and benefits: we incur expenses or benefits with respect to certain items associated with our acquisitions, such as transaction costs, professional fees for assistance with the transaction; valuation or integration costs; changes in the fair value of contingent consideration, gain or loss on settlement of pre-existing relationships with the acquired entity; or adjustments to purchase price. We exclude such expenses or benefits as they are related to acquisitions and have no direct correlation to the operation of our on-going business.

    Restructuring, impairment charges, and gains and losses from change in fair market value of equity securities and loan receivable, and gains and losses on equity-method investments: we incur restructuring and impairment charges on individual or groups of employed assets and charges and benefits arising from gains and losses from change in fair market value of equity securities and loan receivable, and gains and losses (including impairments) on equity-method investments, which arise from unforeseen circumstances and/or often occur outside of the ordinary course of our on-going business. Although these events are reflected in our GAAP financials, these unique transactions may limit the comparability of our on-going operations with prior and future periods.

    Significant litigation charges or benefits and legal costs: we may incur charges or benefits as well as legal costs in connection with litigation and other contingencies unrelated to our core operations. We exclude these charges or benefits, when significant, as well as legal costs associated with significant legal matters, because we do not believe they are reflective of on-going business and operating results.

    Income tax expense: we estimate the tax effect of the excluded items identified above to determine a non-GAAP annual effective tax rate applied to the pretax amount in order to calculate the non-GAAP provision for income taxes. We also adjust for items for which the nature and/or tax jurisdiction requires the application of a specific tax rate or treatment.

    From time to time in the future, there may be other items excluded if we believe that doing so is consistent with the goal of providing useful information to investors and management.

    Percentage sales growth in currency neutral amounts are calculated by translating prior period sales in each local currency using the current period's monthly average foreign exchange rates for that currency and comparing that to current period sales.

    There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact on our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP in the United States. Investors should review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.

    We do not provide a reconciliation of our non-GAAP financial expectations to expectations for the most comparable GAAP measure because the amount and timing of many future charges that impact these measures (such as amortization of future acquisition-related intangible assets, future acquisition-related expenses and benefits, future restructuring charges, future asset impairment charges, future valuation changes of equity-owned securities, future gains and losses on equity-method investments or future legal charges or benefits), which could be material, are variable, uncertain, or out of our control and therefore cannot be reasonably predicted without unreasonable effort, if at all.

    BIO-RAD is a trademark of Bio-Rad Laboratories, Inc.

    About Bio-Rad

    Bio-Rad Laboratories, Inc. (NYSE:BIO) is a leader in developing, manufacturing, and marketing a broad range of products for the life science research and clinical diagnostics markets. Based in Hercules, California, Bio-Rad operates a global network of research, development, manufacturing, and sales operations with over 7,500 employees, and $2.6 billion in revenues in 2024. Our customers include universities, research institutions, hospitals, and biopharmaceutical companies, as well as clinical, food safety and environmental quality laboratories. Together, we develop innovative, high-quality products that advance science and save lives. To learn more, visit bio-rad.com

    Forward-Looking Statements

    This release may be deemed to contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements we make regarding estimated future financial performance or results; remaining committed to advancing our growth and margin expansion initiatives; and for the full year 2025: currently expecting non-GAAP, currency-neutral revenue to range from approximately a 1.0 percent decline to a 1.5 percent growth versus its prior revenue growth estimate of approximately 1.5 to 3.5 percent, and an estimated non-GAAP operating margin of approximately 10.0 to 12.0 percent compared to its prior expectation of approximately 13.0 to 13.5 percent. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "expect," "estimate," "continue," "believe," "anticipate," "target," "will," "project," "assume," "plan," "remain," "may," "intend," or similar expressions or the negative of those terms or expressions, although not all forward-looking statements contain these words. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. These risks and uncertainties include risks relating to our international operations; global economic and geopolitical conditions; tariffs or other trade barriers; reductions in government funding or capital spending of our customers; the uncertain pace of the biopharma sector's recovery; international legal and regulatory risks; our ability to develop and market new or improved products; our ability to compete effectively; foreign currency exchange fluctuations; supply chain issues; product quality and liability issues; our ability to integrate acquired companies, products or technologies into our company successfully; changes in the healthcare industry; and natural disasters and other catastrophic events beyond our control. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's public reports filed with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 to be filed with the SEC. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc. disclaims any obligation to update these forward-looking statements.

    Bio-Rad Laboratories, Inc.

    Condensed Consolidated Statements of Income

     

    (In millions, except number of shares, which are reflected in thousands, and per share data)

    (Unaudited)

     
     
     

    Three Months Ended

    March 31,

     

    2025

     

     

    2024

     

    Net sales

    $

    585.4

     

    $

    610.8

     

    Cost of goods sold

     

    279.4

     

     

    284.9

     

    Gross profit

     

    306.0

     

     

    325.9

     

     
    Selling, general and administrative expense

     

    208.8

     

     

    214.9

     

    Research and development expense

     

    73.5

     

     

    66.4

     

    Income from operations

     

    23.7

     

     

    44.6

     

     
    Interest expense

     

    12.0

     

     

    12.3

     

    Foreign currency exchange gains, net

     

    (2.7

    )

     

    (2.0

    )

    Gains from change in fair market value of equity securities and loan receivable

     

    (31.8

    )

     

    (422.2

    )

    Other income, net

     

    (37.2

    )

     

    (34.6

    )

    Income before income taxes

     

    83.4

     

     

    491.1

     

     
    Provision for income taxes

     

    (19.4

    )

     

    (107.2

    )

    Net income

    $

    64.0

     

    $

    383.9

     

     
    Basic earnings per share:
    Net income per basic share

    $

    2.29

     

    $

    13.46

     

     
    Weighted average common shares - basic

     

    27,941

     

     

    28,518

     

     
    Diluted earnings per share:
    Net income per diluted share

    $

    2.29

     

    $

    13.45

     

     
    Weighted average common shares - diluted

     

    27,955

     

     

    28,537

     

    Bio-Rad Laboratories, Inc.
    Condensed Consolidated Balance Sheets
     
    (In millions)
     
     
     
    March 31, December 31,

     

    2025

     

     

    2024

     

    (Unaudited)
    Current assets:
    Cash and cash equivalents

    $

    521.4

    $

    488.1

    Short-term investments

     

    1,139.0

     

     

    1,176.4

     

    Accounts receivable, net

     

    424.7

     

     

    452.5

     

    Inventories, net

     

    790.1

     

     

    760.0

     

    Other current assets

     

    161.4

     

     

    153.3

     

    Total current assets

     

    3,036.6

     

     

    3,030.3

     

     
    Property, plant and equipment, net

     

    528.5

     

     

    528.1

     

    Operating lease right-of-use assets

     

    153.2

     

     

    160.5

     

    Goodwill, net

     

    414.6

     

     

    410.5

     

    Purchased intangibles, net

     

    296.1

     

     

    293.6

     

    Other investments

     

    4,994.2

     

     

    4,839.2

     

    Other assets

     

    103.7

     

     

    101.9

     

    Total assets

    $

    9,526.9

     

    $

    9,364.1

     

     
    Current liabilities:
    Accounts payable, accrued payroll and employee benefits

    $

    295.3

     

    $

    246.5

     

    Current maturities of long-term debt

     

    1.2

     

     

    1.2

     

    Income and other taxes payable

     

    37.1

     

     

    31.2

     

    Other current liabilities

     

    173.0

     

     

    188.9

     

    Total current liabilities

     

    506.6

     

     

    467.8

     

     
    Long-term debt, net of current maturities

     

    1,200.7

     

     

    1,200.4

     

    Other long-term liabilities

     

    1,140.2

     

     

    1,126.6

     

    Total liabilities

     

    2,847.5

     

     

    2,794.8

     

     
    Total stockholders' equity

     

    6,679.4

     

     

    6,569.3

     

    Total liabilities and stockholders' equity

    $

    9,526.9

     

    $

    9,364.1

     

    Bio-Rad Laboratories, Inc.

    Condensed Consolidated Statements of Cash Flows

     

    (In millions)

    (Unaudited)

     
     
     
    Three Months Ended
    March 31,

     

    2025

     

     

    2024

     

     
    Cash flows from operating activities:
    Cash received from customers

    $

    640.0

     

    $

    638.3

     

    Cash paid to suppliers and employees

     

    (488.0

    )

     

    (560.3

    )

    Interest paid, net

     

    (22.2

    )

     

    (22.4

    )

    Income tax payments, net

     

    (7.9

    )

     

    (3.8

    )

    Other operating activities

     

    8.0

     

     

    18.0

     

    Net cash provided by operating activities

     

    129.9

     

     

    69.8

     

     
    Cash flows from investing activities:
    Payments for purchases of marketable securities and investments

     

    (153.4

    )

     

    (406.5

    )

    Proceeds from sales and maturities of marketable securities and investments

     

    190.7

     

     

    403.6

     

    Other investing activities

     

    (34.4

    )

     

    (40.2

    )

    Net cash provided by (used in) investing activities

     

    2.9

     

     

    (43.1

    )

     
    Cash flows from financing activities:
    Payments on long-term debt

     

    (0.1

    )

     

    (0.2

    )

    Other financing activities

     

    (97.6

    )

     

    0.2

     

    Net cash used in financing activities

     

    (97.7

    )

     

    -

     

     
    Effect of foreign exchange rate changes on cash

     

    (1.8

    )

     

    2.7

     

     
    Net increase in cash, cash equivalents and restricted cash

     

    33.3

     

     

    29.4

     

    Cash, cash equivalents and restricted cash at beginning of period

     

    489.8

     

     

    404.4

     

    Cash, cash equivalents and restricted cash at end of period

    $

    523.1

     

    $

    433.8

     

     
     
    Reconciliation of net income to net cash provided by operating activities:
    Net income

    $

    64.0

     

    $

    383.9

     

    Adjustments to reconcile net income to net cash provided by operating activities:
    Depreciation and amortization

     

    38.1

     

     

    37.1

     

    Reduction in the carrying amount of right-of-use assets

     

    10.1

     

     

    10.7

     

    Gains from change in fair market value of equity securities and loan receivable

     

    (31.8

    )

     

    (422.2

    )

    Changes in working capital

     

    38.2

     

     

    (40.7

    )

    Other

     

    11.3

     

     

    101.0

     

    Net cash provided by operating activities

    $

    129.9

     

    $

    69.8

     

    Bio-Rad Laboratories, Inc.
    Reconciliation of GAAP financial measures to non-GAAP financial measures
     
    (In millions, except number of shares, which are reflected in thousands, and per share data)
    (Unaudited)
     
    In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including non-GAAP net income and non-GAAP diluted income per share (non-GAAP EPS), which exclude amortization of acquisition-related intangible assets; certain acquisition-related expenses and benefits; restructuring charges; asset impairment charges; gains and losses from change in fair market value of equity securities and loan receivable; gains and losses on equity-method investments; and significant legal-related charges or benefits and associated legal costs. Non-GAAP net income and non-GAAP EPS also exclude certain other gains and losses that are either isolated or cannot be expected to occur again with any predictability, tax provisions/benefits related to the previous items, and significant discrete tax events. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods.
     
    We utilize a number of different financial measures, both GAAP and non-GAAP, in analyzing and assessing the overall performance of our business, in making operating decisions, forecasting and planning for future periods, and determining payments under compensation programs. We consider the use of the non-GAAP measures to be helpful in assessing the performance of the ongoing operation of our business. We believe that disclosing non-GAAP financial measures provides useful supplemental data that, while not a substitute for financial measures prepared in accordance with GAAP, allows for greater transparency in the review of our financial and operational performance. We also believe that disclosing non-GAAP financial measures provides useful information to investors and others in understanding and evaluating our operating results and future prospects in the same manner as management and in comparing financial results across accounting periods and to those of peer companies.
     

    Three Months

    Ended

    Three Months

    Ended

    March 31, % of March 31, % of

     

    2025

     

    revenue

     

    2024

     

    revenue
     
    GAAP cost of goods sold

    $

    279.4

     

    $

    284.9

     

    Amortization of purchased intangibles

     

    (4.4

    )

     

    (4.5

    )

    Restructuring benefits (costs)

     

    (4.6

    )

     

    (0.5

    )

    Non-GAAP cost of goods sold

    $

    270.4

     

    $

    279.9

     

     
    GAAP gross profit

    $

    306.0

     

    52.3

    %

    $

    325.9

     

    53.4

    %

    Amortization of purchased intangibles

     

    4.4

     

     

    4.5

     

    Restructuring (benefits) costs

     

    4.6

     

     

    0.5

     

    Non-GAAP gross profit

    $

    315.0

     

    53.8

    %

    $

    330.9

     

    54.2

    %

     
    GAAP selling, general and administrative expense

    $

    208.8

     

    $

    214.9

     

    Amortization of purchased intangibles

     

    (0.6

    )

     

    (1.1

    )

    Restructuring benefits (costs)

     

    (15.3

    )

     

    (4.4

    )

    Other non-recurring items (2)

     

    (1.1

    )

     

    (1.5

    )

    Non-GAAP selling, general and administrative expense

    $

    191.8

     

    $

    207.9

     

     
    GAAP research and development expense

    $

    73.5

     

    $

    66.4

     

    Acquisition related benefits (costs)

     

    -

     

     

    (0.2

    )

    Restructuring benefits (costs)

     

    (13.3

    )

     

    (2.2

    )

    Non-GAAP research and development expense

    $

    60.2

     

    $

    64.0

     

     
    GAAP income from operations

    $

    23.7

     

    4.0

    %

    $

    44.6

     

    7.3

    %

    Amortization of purchased intangibles

     

    5.0

     

     

    5.6

     

    Acquisition related (benefits) costs

     

    -

     

     

    0.2

     

    Restructuring (benefits) costs

     

    33.2

     

     

    7.1

     

    Other non-recurring items (2)

     

    1.1

     

     

    1.5

     

    Non-GAAP income from operations

    $

    63.0

     

    10.8

    %

    $

    59.0

     

    9.7

    %

     
    GAAP (gains) losses from change in fair market value of equity securities and loan receivable

    $

    (31.8

    )

    $

    (422.2

    )

    Gains (losses) from change in fair market value of equity securities and loan receivable

     

    31.8

     

     

    422.2

     

    Non-GAAP (gains) losses from change in fair market value of equity securities and loan receivable

    $

    -

     

    $

    -

     

     
    GAAP other (income) expense, net

    $

    (37.2

    )

    $

    (34.6

    )

    Gains (losses) on equity-method investments

     

    1.5

     

     

    (0.8

    )

    Non-GAAP other (income) expense, net

    $

    (35.7

    )

    $

    (35.4

    )

     
    GAAP income before income taxes

    $

    83.4

     

    $

    491.1

     

    Amortization of purchased intangibles

     

    5.0

     

     

    5.6

     

    Acquisition related (benefits) costs

     

    -

     

     

    0.2

     

    Restructuring (benefits) costs

     

    33.2

     

     

    7.1

     

    (Gains) losses from change in fair market value of equity securities and loan receivable

     

    (31.8

    )

     

    (422.2

    )

    (Gains) losses on equity-method investments

     

    (1.5

    )

     

    0.8

     

    Other non-recurring items (2)

     

    1.1

     

     

    1.5

     

    Non-GAAP income before income taxes

    $

    89.4

     

    $

    84.1

     

     
    GAAP provision for income taxes

    $

    (19.4

    )

    $

    (107.2

    )

    Income tax effect of non-GAAP adjustments (1)

     

    1.0

     

     

    88.4

     

    Non-GAAP provision for income taxes

    $

    (18.4

    )

    $

    (18.8

    )

     
    GAAP net income

    $

    64.0

     

    10.9

    %

    $

    383.9

     

    62.9

    %

    Amortization of purchased intangibles

     

    5.0

     

     

    5.6

     

    Acquisition related (benefits) costs

     

    -

     

     

    0.2

     

    Restructuring (benefits) costs

     

    33.2

     

     

    7.1

     

    (Gains) losses from change in fair market value of equity securities and loan receivable

     

    (31.8

    )

     

    (422.2

    )

    (Gains) losses on equity-method investments

     

    (1.5

    )

     

    0.8

     

    Other non-recurring items (2)

     

    1.1

     

     

    1.5

     

    Income tax effect of non-GAAP adjustments (1)

     

    1.0

     

     

    88.4

     

    Non-GAAP net income

    $

    71.0

     

    12.1

    %

    $

    65.3

     

    10.7

    %

     
    GAAP diluted income per share

    $

    2.29

     

    $

    13.45

     

    Amortization of purchased intangibles

     

    0.18

     

     

    0.20

     

    Acquisition related (benefits) costs

     

    -

     

     

    0.01

     

    Restructuring (benefits) costs

     

    1.19

     

     

    0.25

     

    (Gains) losses from change in fair market value of equity securities and loan receivable

     

    (1.14

    )

     

    (14.79

    )

    (Gains) losses on equity-method investments

     

    (0.05

    )

     

    0.03

     

    Other non-recurring items (2)

     

    0.04

     

     

    0.05

     

    Income tax effect of non-GAAP adjustments (1)

     

    0.03

     

     

    3.10

     

    Non-GAAP diluted income per share

    $

    2.54

     

    $

    2.30

     

     
    GAAP diluted weighted average shares used in per share calculation

     

    27,955

     

     

    28,537

     

    Shares included in non-GAAP net income per share, but excluded from GAAP net loss per share as they would have been anti-dilutive

     

    -

     

     

    -

     

    Non-GAAP diluted weighted average shares used in per share calculation

     

    27,955

     

     

    28,537

     

     
    Reconciliation of net income to adjusted EBITDA:
    GAAP net income

    $

    64.0

     

    10.9

    %

    $

    383.9

     

    62.9

    %

    Interest expense

     

    12.0

     

     

    12.3

     

    Provision for income taxes

     

    19.4

     

     

    107.2

     

    Depreciation and amortization

     

    38.1

     

     

    37.1

     

    Foreign currency exchange gains, net

     

    (2.7

    )

     

    (2.0

    )

    Other income, net

     

    (37.2

    )

     

    (34.6

    )

    Gains from change in fair market value of equity securities and loan receivable

     

    (31.8

    )

     

    (422.2

    )

    Dividend from Sartorius AG

     

    17.6

     

     

    17.9

     

    Acquisition related (benefits) costs

     

    -

     

     

    0.2

     

    Restructuring (benefits) costs

     

    33.2

     

     

    7.1

     

    Other non-recurring items (2)

     

    1.1

     

     

    1.5

     

    Adjusted EBITDA

    $

    113.7

     

    19.4

    %

    $

    108.4

     

    17.7

    %

    (1)

    Excluded items identified in the reconciliation schedule are tax effected by application of a non-GAAP effective tax rate. The non-GAAP tax

     

    provision is adjusted for items, the nature of which and/or tax jurisdiction requires the application of a specific tax rate or treatment.

     

     

    (2)

    Incremental costs to comply with the European Union's In Vitro Diagnostics Regulation ("IVDR") for previously approved products.

     

    2025 Financial Outlook

     

     

    Forecasted non-GAAP operating margin excludes 88 basis points related to amortization of purchased intangibles. Forecasted non-GAAP operating margin does not reflect future gains and charges that are inherently difficult to predict and estimate due to their unknown timing, effect and/or significance, such as foreign currency fluctuations, future gains or losses associated with certain legal matters, acquisitions and restructuring activities. We do not provide a reconciliation of our non-GAAP financial expectations to expectations for the most comparable GAAP measure because the amount and timing of many future charges that impact these measures (such as amortization of future acquisition-related intangible assets, future acquisition-related expenses and benefits, future restructuring charges, future asset impairment charges, future valuation changes of equity-owned securities, future gains and losses on equity-method investments or future legal charges or benefits), which could be material, are variable, uncertain, or out of our control and therefore cannot be reasonably predicted without unreasonable effort, if at all.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250501411577/en/

    Investor Contact:

    Edward Chung, Investor Relations

    510-741-6104

    [email protected]

    Media Contact:

    Anna Gralinska, Corporate Communications

    510-741-6643

    [email protected]

    Get the next $BIO alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $BIO

    DatePrice TargetRatingAnalyst
    10/1/2024$350.00 → $400.00Neutral → Buy
    Citigroup
    8/28/2024$340.00Equal Weight
    Wells Fargo
    6/3/2024$315.00Hold
    Jefferies
    4/3/2024$400.00 → $365.00Buy → Neutral
    Citigroup
    12/7/2023$395.00Buy
    UBS
    6/16/2023$550.00Overweight
    Wells Fargo
    12/7/2022$565.00Outperform
    RBC Capital Mkts
    8/25/2022$715.00Outperform
    Credit Suisse
    More analyst ratings

    $BIO
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 3: New insider May Simon claimed ownership of 43 units of Bio-Rad A Common Stock

      3 - BIO-RAD LABORATORIES, INC. (0000012208) (Issuer)

      1/7/22 1:09:06 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • SEC Form 4: Wright Dara converted options into 502 units of Bio-Rad A Common Stock and covered exercise/tax liability with 221 units of Bio-Rad A Common Stock, increasing direct ownership by 46% to 892 units

      4 - BIO-RAD LABORATORIES, INC. (0000012208) (Issuer)

      12/17/21 2:21:01 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • SEC Form 4: Schwartz Norman D received a gift of 40 units of Bio-Rad B Common Stock, increasing direct ownership by 0.01% to 316,146 units

      4 - BIO-RAD LABORATORIES, INC. (0000012208) (Issuer)

      11/23/21 2:30:23 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials

    $BIO
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Bio-Rad Labs upgraded by Citigroup with a new price target

      Citigroup upgraded Bio-Rad Labs from Neutral to Buy and set a new price target of $400.00 from $350.00 previously

      10/1/24 7:11:23 AM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Wells Fargo initiated coverage on Bio-Rad Labs with a new price target

      Wells Fargo initiated coverage of Bio-Rad Labs with a rating of Equal Weight and set a new price target of $340.00

      8/28/24 7:34:48 AM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Jefferies resumed coverage on Bio-Rad Labs with a new price target

      Jefferies resumed coverage of Bio-Rad Labs with a rating of Hold and set a new price target of $315.00

      6/3/24 8:40:37 AM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials

    $BIO
    SEC Filings

    See more
    • Bio-Rad Laboratories, Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

      8-K - BIO-RAD LABORATORIES, INC. (0000012208) (Filer)

      11/18/21 4:46:00 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • SEC Form 10-Q filed by Bio-Rad Laboratories, Inc.

      10-Q - BIO-RAD LABORATORIES, INC. (0000012208) (Filer)

      10/29/21 4:06:54 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Bio-Rad Laboratories, Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - BIO-RAD LABORATORIES, INC. (0000012208) (Filer)

      10/28/21 4:27:41 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials

    $BIO
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Bio-Rad's Management to Host Investor Meetings During Jefferies Global Healthcare Conference

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced that the company's Chief Operating Officer Jon DiVincenzo will host one-on-one meetings with investors during the Jefferies Global Healthcare Conference in New York City, on June 4, 2025. About Bio-Rad Bio-Rad Laboratories, Inc. (NYSE:BIO) is a leader in developing, manufacturing, and marketing a broad range of products for the life science research and clinical diagnostics markets. Based in Hercules, California, Bio-Rad operates a global network of research, development, manufacturing, and sales operations with over 7,500 employees, and $2.6 billion in reve

      5/29/25 4:30:00 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Bio-Rad's Management to Participate in Fireside Chat During 2025 RBC Capital Markets Global Healthcare Conference

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced that its Chief Executive Officer Norman Schwartz and Chief Financial Officer Roop K. Lakkaraju will participate in a fireside chat event during the 2025 RBC Capital Markets Global Healthcare Conference on Wednesday, May 21, 2025, at 1:35 PM Eastern Time (10:35 AM Pacific Time). A live webcast and subsequent replay of the event will be available in the Investor Relations section of Bio-Rad's website at bio-rad.com. About Bio-Rad Bio-Rad Laboratories, Inc. (NYSE:BIO) is a leader in developing, manufacturing, and marketing a broad range of products for the life

      5/12/25 4:30:00 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Bio-Rad Reports First-Quarter 2025 Financial Results

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced financial results for the first quarter ended March 31, 2025. Norman Schwartz, Bio-Rad's Chairman and Chief Executive Officer, stated: "We navigated a highly dynamic first quarter that became progressively more challenging, yet we delivered solid margins through focused execution and careful expense management. Given the current levels of market uncertainty, we are moderating our full-year 2025 outlook to reflect the evolving macro environment. Going forward, we remain committed to advancing our growth and margin expansion initiatives." Financial Results Highl

      5/1/25 4:15:00 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials

    $BIO
    Financials

    Live finance-specific insights

    See more
    • Bio-Rad Reports First-Quarter 2025 Financial Results

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced financial results for the first quarter ended March 31, 2025. Norman Schwartz, Bio-Rad's Chairman and Chief Executive Officer, stated: "We navigated a highly dynamic first quarter that became progressively more challenging, yet we delivered solid margins through focused execution and careful expense management. Given the current levels of market uncertainty, we are moderating our full-year 2025 outlook to reflect the evolving macro environment. Going forward, we remain committed to advancing our growth and margin expansion initiatives." Financial Results Highl

      5/1/25 4:15:00 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Bio-Rad to Report First Quarter 2025 Financial Results on Thursday, May 1, 2025

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, will report its financial results for the first quarter of 2025 on Thursday, May 1, 2025, following the close of the market. Management will discuss these results in a conference call scheduled for 2:30 PM Pacific Time (5:30 PM Eastern Time) that day. To participate, dial (800) 715-9871 within the U.S. or (646) 307-1963 outside the U.S., access code: 9562470. A live webcast of the conference call will also be available in the "Investor Relations" section of the company's website under "Events & Presentations" at investors.bio-rad.com. A replay of the webcast will be available

      4/15/25 4:15:00 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Bio-Rad Reports Fourth-Quarter and Full-Year 2024 Financial Results

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced financial results for the fourth quarter and full year ended December 31, 2024. Norman Schwartz, Bio-Rad's Chairman and Chief Executive Officer, commented: "Bio-Rad demonstrated resilience and adaptability in 2024. While the biopharma headwinds dampened our Life Science segment results, our Clinical Diagnostics business returned to a more normalized growth rate, and our ongoing transformation initiatives and diligent cost management helped improve our gross margins." Mr. Schwartz continued: "We begin 2025 in a strong position and remain committed to advancing

      2/13/25 4:20:00 PM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials

    $BIO
    Leadership Updates

    Live Leadership Updates

    See more
    • Palantir Technologies, Dell Technologies, and Erie Indemnity Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

      NEW YORK, Sept. 6, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, September 23, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from

      9/6/24 6:43:00 PM ET
      $AAL
      $ADMA
      $ADNT
      $AMCX
      Air Freight/Delivery Services
      Consumer Discretionary
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • Bio-Rad Appoints Jon DiVincenzo President, Chief Operating Officer

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced that Jon DiVincenzo will join the company as President and Chief Operating Officer, effective September 9, 2024, replacing Andy Last, who is retiring. Mr. DiVincenzo joins Bio-Rad from Labcorp Holdings Inc., a global provider of comprehensive laboratory services, where he held various global operational and commercial leadership roles across the company's several business units. Most recently, he served as Executive Vice President and President, Central Laboratories and International. Prior to LabCorp, Mr. DiVincenzo was President of the Environmental Health D

      8/20/24 8:30:00 AM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • Bio-Rad Appoints Roop K. Lakkaraju Executive Vice President, Chief Financial Officer

      Bio-Rad Laboratories, Inc. (NYSE:BIO), a global leader in life science research and clinical diagnostics products, today announced that Roop K. Lakkaraju will join the company as its new Executive Vice President and Chief Financial Officer, effective April 15, 2024. Mr. Lakkaraju joins Bio-Rad from Benchmark Electronics, a multi-national leader in electronics manufacturing services, where he served as Executive Vice President and Chief Financial Officer responsible for all finance-related functions supporting the company's global operations since 2018. Prior to Benchmark, he held Chief Financial Officer and senior operational roles at several large, multinational companies including Suppo

      3/20/24 8:30:00 AM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials

    $BIO
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed

      SC 13G/A - BIO-RAD LABORATORIES, INC. (0000012208) (Subject)

      2/10/21 10:39:36 AM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials
    • SEC Form SC 13G filed

      SC 13G - BIO-RAD LABORATORIES, INC. (0000012208) (Subject)

      2/8/21 10:17:35 AM ET
      $BIO
      Biotechnology: Laboratory Analytical Instruments
      Industrials