Bio-Techne Corporation stock research
FY2023 Q3
Bio-Techne (TECH) Gross Margin — Quarter Ended Mar 31, 2023
Revenue increased compared to the previous quarter, and gross profit rose at a faster rate, leading to an improvement in gross margin. However, relative to the same quarter last year, revenue was higher but gross profit increased only modestly, resulting in a lower gross margin.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q3
Revenue increased compared to the previous quarter, and gross profit rose at a faster rate, leading to an improvement in gross margin. However, relative to the same quarter last year, revenue was higher but gross profit increased only modestly, resulting in a lower gross margin.
- The gross margin improved sequentially, reflecting a larger increase in revenue relative to the increase in cost of revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and cost of revenue were all higher, and gross margin improved. Compared to the same quarter one year earlier, revenue and gross profit were slightly higher, but cost of revenue was higher and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
68.7%
Gross profit
$202.2M
Revenue
$294.1M
Cost of revenue
$92.0M
Quarter-over-quarter change
n/a
Year-over-year change
-0.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $294.1M | $202.2M | $92.0M | 68.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
-0.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially, reflecting a larger increase in revenue relative to the increase in cost of revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and cost of revenue were all higher, and gross margin improved. Compared to the same quarter one year earlier, revenue and gross profit were slightly higher, but cost of revenue was higher and gross margin weakened.
Monitor the year-over-year trend in cost of revenue growth relative to revenue growth, as the gross margin declined compared to the prior year.