Bio-Techne Corporation reported its financial results for the first quarter of fiscal 2026, ending September 30, 2025, revealing a slight decline in net sales to $286.6 million, down 1% from $289.5 million in the same quarter of the previous year. The company’s gross margin improved to 65.6%, compared to 63.2% in the prior year, driven by a favorable product mix and reduced restructuring charges. Operating income increased to $47.7 million, up from $40.0 million a year earlier, while net earnings rose to $38.2 million, or $0.24 per diluted share, compared to $33.6 million, or $0.21 per diluted share, in the same quarter last year.
The decrease in net sales was attributed to a 3% decline in organic revenue within the Protein Sciences segment, which was partially offset by a 3% growth in the Diagnostics and Spatial Biology segment. The latter benefited from favorable performance in its product portfolio, although the overall impact of businesses held-for-sale negatively affected revenue by 1%. The company also noted that foreign currency exchange had a favorable impact of 1% on revenue.
In terms of operational developments, Bio-Techne's total operating expenses decreased to $140.5 million from $143.0 million, primarily due to cost management initiatives. Research and development expenses increased slightly to $24.2 million, reflecting strategic growth investments. The company’s employee headcount remained stable, supporting its ongoing operations and strategic initiatives. Additionally, Bio-Techne continues to focus on its acquisition strategy, having recently divested its Exosome Diagnostics business for approximately $15 million, which included stock received at closing.
Looking ahead, Bio-Techne anticipates continued challenges in the Protein Sciences segment due to volume pressures but expects growth in the Diagnostics and Spatial Biology segment. The company is committed to leveraging its core competencies and expanding into high-potential markets through innovation and acquisitions. Management projects that gross margins will be influenced by the mix of its product portfolio and future acquisitions, with an effective tax rate forecasted to range between 26% and 30% for the remainder of fiscal 2026. The company remains confident in its ability to meet cash and working capital requirements through available cash and credit facilities.
About BIO-TECHNE Corp
Bio-Techne Corporation develops, manufactures, and sells life science reagents, instruments, and diagnostic products for research, diagnostics, and bioprocessing markets worldwide. Its two main segments—Protein Sciences and Diagnostics & Spatial Biology—offer biological reagents, protein analysis tools, molecular diagnostics, and spatial biology solutions. Serving academic, pharmaceutical, biotech, and clinical customers, Bio-Techne leverages innovation, quality manufacturing, and a broad global distribution network to support scientific discovery and disease diagnosis.
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