Bio-Techne Corporation stock research
FY2024 Q1
Bio-Techne (TECH) Gross Margin — Quarter Ended Sep 30, 2023
Revenue decreased compared to the previous quarter but increased year-over-year. Gross margin weakened slightly from the prior quarter while improving compared to the same quarter last year.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2024 Q1
Revenue decreased compared to the previous quarter but increased year-over-year. Gross margin weakened slightly from the prior quarter while improving compared to the same quarter last year.
- The gross margin change from the previous quarter was driven by a proportionally larger decline in revenue relative to cost of revenue. Year-over-year margin improvement resulted from revenue growth outpacing cost growth.
- Compared to the previous quarter, revenue and gross profit were lower, and gross margin weakened. Compared to the same quarter last year, revenue and gross profit were higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
66.9%
Gross profit
$185.2M
Revenue
$276.9M
Cost of revenue
$91.7M
Quarter-over-quarter change
-1.1 pts
Year-over-year change
+0.3 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% |
| Jun 30, 2023 | $301.3M | $204.7M | $96.6M | 67.9% |
| Sep 30, 2023 | $276.9M | $185.2M | $91.7M | 66.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
-1.1 pts
Year-over-year change
Sep 30, 2022
+0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin change from the previous quarter was driven by a proportionally larger decline in revenue relative to cost of revenue. Year-over-year margin improvement resulted from revenue growth outpacing cost growth.
Compared to the previous quarter, revenue and gross profit were lower, and gross margin weakened. Compared to the same quarter last year, revenue and gross profit were higher, and gross margin improved.
Given the sequential decline in revenue, monitor whether this trend continues into subsequent quarters.