The company said consolidated net sales for fiscal 2024 rose 2% from fiscal 2023 to $1.2 billion. Organic growth was 1%, and acquisitions had a favorable impact of 1%. It said foreign currency translation and the business held for sale did not have a material impact.

10-KAnnual reportFiled Aug 22, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said consolidated net sales for fiscal 2024 rose 2% from fiscal 2023 to $1.2 billion. Organic growth was 1%, and acquisitions had a favorable impact of 1%. It said foreign currency translation and the business held for sale did not have a material impact.
Bio-Techne said consolidated net earnings, including non-controlling interest, fell 41% in fiscal 2024. The company cited non-recurring items in fiscal 2023, including gains on the sale of its ChemoCentryx and Eminence investments, as well as impairment of assets held for sale, restructuring charges and CEO transition costs. After adjustments, net earnings attributable to Bio-Techne decreased 11%.
The company said it acquired a 19.9% stake in Wilson Wolf in fiscal 2023 and will acquire the remaining 80.1% by December 31, 2027. It said the second option payment of about $1 billion, plus potential contingent consideration, is expected to occur between fiscal 2026 and fiscal 2028.
The company said operating cash flow in fiscal 2024 was $299.0 million, up from $254.4 million in fiscal 2023. It attributed the increase mainly to changes in the timing of cash payments on certain operating assets and liabilities. In the same year, it acquired Lunaphore for $169.7 million.

Key figures

Fiscal year ended June 30, 2024

Revenue: $1.2B
Operating income: $207M
Net income: $168M
EPS: $1.05
Gross profit: $770M
Operating cash flow: $299M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net Sales Up 2%, Organic Growth 1%

The company said consolidated net sales for fiscal 2024 rose 2% from fiscal 2023 to $1.2 billion. Organic growth was 1%, and acquisitions had a favorable impact of 1%. It said foreign currency translation and the business held for sale did not have a material impact.

Source · Based on the MD&A text of the filing

Net Earnings Down 41%, Adjusted Net Earnings Down 11%

Bio-Techne said consolidated net earnings, including non-controlling interest, fell 41% in fiscal 2024. The company cited non-recurring items in fiscal 2023, including gains on the sale of its ChemoCentryx and Eminence investments, as well as impairment of assets held for sale, restructuring charges and CEO transition costs. After adjustments, net earnings attributable to Bio-Techne decreased 11%.

Source · Based on the MD&A text of the filing

Wilson Wolf Remaining Stake Purchase Agreement

The company said it acquired a 19.9% stake in Wilson Wolf in fiscal 2023 and will acquire the remaining 80.1% by December 31, 2027. It said the second option payment of about $1 billion, plus potential contingent consideration, is expected to occur between fiscal 2026 and fiscal 2028.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Lunaphore Acquisition

The company said operating cash flow in fiscal 2024 was $299.0 million, up from $254.4 million in fiscal 2023. It attributed the increase mainly to changes in the timing of cash payments on certain operating assets and liabilities. In the same year, it acquired Lunaphore for $169.7 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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