Bio-Techne (TECH) 10-K Summary — Year Ended Jun 30, 2024
Bio-Techne Corporation filed its annual report for the period ended June 30, 2024. The filing describes the company's business, risk factors, financial condition, and liquidity position.
Key takeaway
Year ended Jun 30, 2024 · FY2025 10-K
Bio-Techne Corporation filed its annual report for the period ended June 30, 2024. The filing describes the company's business, risk factors, financial condition, and liquidity position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$1.2B
Revenue reported for the fiscal year.
Operating income
$206.7M
Income from operations reported for the year.
Net income
$168.1M
Net income reported for the year.
Operating cash flow
$299M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2021 | $931M | n/a |
| Jun 30, 2022 | $1.1B | +18.7% |
| Jun 30, 2023 | $1.1B | +2.8% |
| Jun 30, 2024 | $1.2B | +2.0% |
Business overview
Bio-Techne Corporation is a life sciences company that provides research and diagnostic products. The company operates in the biotechnology and clinical diagnostics sectors, offering tools and reagents for scientific discovery and medical testing.
Financial performance
Revenue increased compared to the prior year, while operating income and net income were reported at levels consistent with the company's scale. Operating cash flow remained positive and supported ongoing operations.
Material risks
The filing identifies risk factors including potential impacts from global economic conditions, competition, regulatory changes, and reliance on intellectual property. The company also notes risks related to international operations and currency fluctuations.
Liquidity and capital
The company held cash, cash equivalents, and available-for-sale investments, with a portion located outside the U.S. It also had borrowings under a revolving credit facility, with significant unutilized availability. Management expects to meet cash and working capital needs for the foreseeable future.
What to watch
Monitor any changes in the company's revenue growth trajectory and operating cash flow trends in the next filing.