Bruker Corporation reported a significant increase in its financial performance for the fiscal year ending December 31, 2024, with total revenue reaching $3,366.4 million, a 13.6% increase from $2,964.5 million in 2023. The company's gross profit also rose to $1,649.5 million, although the gross profit margin decreased slightly to 49.0% from 51.0% in the previous year. Operating income fell to $253.1 million, down 42.1% from $436.9 million in 2023, primarily due to increased operating expenses and a less favorable revenue mix following several acquisitions.
In 2024, Bruker made strategic acquisitions, including ELITechGroup, NanoString Technologies, and Chemspeed Technologies AG, which collectively enhanced its capabilities in molecular diagnostics, life science analytical instruments, and lab automation. These acquisitions contributed to revenue growth, particularly in the BSI CALID segment, which saw a 13.9% increase in revenue, driven by strong demand for its microbiology and infection diagnostics products. The BSI NANO segment also performed well, with a 16.6% revenue increase, bolstered by demand in the semiconductor metrology market.
Operationally, Bruker expanded its workforce significantly, increasing its total employee count to 11,396 in 2024 from 9,707 in 2023. This included a notable rise in research and development personnel, reflecting the company's commitment to innovation. The company also reported a backlog of approximately $2,090.4 million as of December 31, 2024, indicating a strong pipeline of future revenue, although this was a decrease from $2,226.7 million in 2023, primarily due to lower order bookings in the BEST segment.
The filing highlighted challenges related to supply chain disruptions and inflationary pressures, which have impacted production costs and operational efficiency. Bruker anticipates that these factors may continue to affect its financial results in the near term. Looking ahead, the company remains focused on leveraging its acquisitions to drive growth and enhance its market position, while also navigating the complexities of a rapidly changing economic landscape.
About BRUKER CORP
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