Bio-Techne (TECH) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter increased compared to the same period last year, but declined from the immediately preceding quarter. The sequential decrease reflects typical seasonal patterns, while the year-over-year growth indicates sustained demand.
Key takeaway
Quarter ended Sep 30, 2023 · FY2024 Q1
Revenue for the quarter increased compared to the same period last year, but declined from the immediately preceding quarter. The sequential decrease reflects typical seasonal patterns, while the year-over-year growth indicates sustained demand.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$276.9M
Revenue reported for this quarter.
Quarter-over-quarter
-8.1%
Change from the immediately preceding quarter.
Year-over-year
+2.7%
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 |
|---|---|---|
| Dec 31, 2022 | $271.6M | +0.9% |
| Mar 31, 2023 | $294.1M | +1.3% |
| Jun 30, 2023 | $301.3M | +4.5% |
| Sep 30, 2023 | $276.9M | +2.7% |
Revenue performance
Net sales rose year over year, driven by higher volumes and favorable product mix. The gross margin improved slightly, supporting operating performance.
Quarterly comparison
Compared to the prior quarter, revenue decreased, aligning with typical seasonal trends. Versus the same quarter last year, revenue increased, reflecting continued business momentum.
What to watch
Monitor the impact of foreign currency translation adjustments, which were negative this quarter.