Bio-Techne Corporation stock research
FY2024 Q4
Bio-Techne (TECH) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased slightly compared to both the prior quarter and the same quarter last year, but gross profit decreased and cost of revenue rose, resulting in a weakened gross margin. The gross margin declined from the previous quarter and from the year-ago period.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q4
Revenue increased slightly compared to both the prior quarter and the same quarter last year, but gross profit decreased and cost of revenue rose, resulting in a weakened gross margin. The gross margin declined from the previous quarter and from the year-ago period.
- The increase in cost of revenue outpaced the increase in revenue, causing gross profit to fall and gross margin to weaken.
- Compared to the prior quarter, revenue was slightly higher while gross profit was lower, and cost of revenue was higher, leading to a weaker gross margin. Versus the same quarter one year ago, revenue was slightly higher but gross profit was lower, while cost of revenue was higher, resulting in a lower gross margin.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
66.4%
Gross profit
$203.3M
Revenue
$306.1M
Cost of revenue
$102.8M
Quarter-over-quarter change
-1.0 pts
Year-over-year change
-1.5 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $276.9M | $185.2M | $91.7M | 66.9% |
| Dec 31, 2023 | $272.6M | $176.6M | $96.0M | 64.8% |
| Mar 31, 2024 | $303.4M | $204.6M | $98.8M | 67.4% |
| Jun 30, 2024 | $306.1M | $203.3M | $102.8M | 66.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-1.0 pts
Year-over-year change
Jun 30, 2023
-1.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The increase in cost of revenue outpaced the increase in revenue, causing gross profit to fall and gross margin to weaken.
Compared to the prior quarter, revenue was slightly higher while gross profit was lower, and cost of revenue was higher, leading to a weaker gross margin. Versus the same quarter one year ago, revenue was slightly higher but gross profit was lower, while cost of revenue was higher, resulting in a lower gross margin.
Monitor the trajectory of cost of revenue relative to revenue, as its faster growth continued to pressure gross margin.