Bio-Techne (TECH) Revenue — Quarter Ended Jun 30, 2023
Revenue increased in the current quarter compared to both the prior quarter and the same quarter last year. The growth rate relative to the prior quarter was smaller than the year-over-year increase.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q4
Revenue increased in the current quarter compared to both the prior quarter and the same quarter last year. The growth rate relative to the prior quarter was smaller than the year-over-year increase.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$301.3M
Revenue reported for this quarter.
Quarter-over-quarter
+2.4%
Change from the immediately preceding quarter.
Year-over-year
+4.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$1.1B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $269.7M | +4.6% |
| Dec 31, 2022 | $271.6M | +0.9% |
| Mar 31, 2023 | $294.1M | +1.3% |
| Jun 30, 2023 | $301.3M | +4.5% |
Revenue performance
The reported revenue rose from the immediately preceding quarter, continuing an upward trend seen over recent quarters.
Quarterly comparison
Revenue was higher than both the prior quarter and the same quarter one year earlier. The year-over-year gain was larger than the sequential increase.
What to watch
The company's cash and available-for-sale investments declined year over year, while borrowings under the revolving credit facility remained outstanding.