Bio-Techne Corporation stock research
FY2026 Q1
Bio-Techne (TECH) Gross Margin — Quarter Ended Sep 30, 2025
Revenue decreased compared to both the prior quarter and the same quarter last year, while gross profit rose year over year but fell sequentially. The decline in cost of revenue outpaced the revenue decline, resulting in an improved gross margin.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2026 Q1
Revenue decreased compared to both the prior quarter and the same quarter last year, while gross profit rose year over year but fell sequentially. The decline in cost of revenue outpaced the revenue decline, resulting in an improved gross margin.
- The gross margin improvement was driven by a proportionally larger reduction in cost of revenue relative to revenue.
- Compared to the previous quarter, gross margin was higher despite lower revenue and gross profit. Compared to the same quarter last year, gross margin was also higher, with lower revenue but higher gross profit.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
65.6%
Gross profit
$188.1M
Revenue
$286.6M
Cost of revenue
$98.4M
Quarter-over-quarter change
+2.9 pts
Year-over-year change
+2.4 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 |
|---|---|---|---|---|
| Dec 31, 2024 | $297.0M | $193.9M | $103.1M | 65.3% |
| Mar 31, 2025 | $316.2M | $214.6M | $101.6M | 67.9% |
| Jun 30, 2025 | $317.0M | $198.8M | $118.2M | 62.7% |
| Sep 30, 2025 | $286.6M | $188.1M | $98.4M | 65.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
+2.9 pts
Year-over-year change
Sep 30, 2024
+2.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improvement was driven by a proportionally larger reduction in cost of revenue relative to revenue.
Compared to the previous quarter, gross margin was higher despite lower revenue and gross profit. Compared to the same quarter last year, gross margin was also higher, with lower revenue but higher gross profit.
Monitor revenue trends as the margin improvement occurred alongside lower revenue.