TECH

MKT CAP:$8B

Bio-Techne Corporation

Market Cap

$8B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$52.17-$7.48 (-12.54%)

Apr 23, 2026

Company Details

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments...

CEO

Kim Kelderman

IPO Date

Feb 9, 1989

Website

www.bio-techne.com

Key Metrics TTM

Revenue

$1.2B

+1.6% YoY

Net Income

$81M

EPS (Diluted)

$0.51

Free Cash Flow

$223M

Revenue / Share

$7.74

Gross Margin

65.2%

Operating Margin

9.6%

Net Margin

6.7%

FCF Margin

18.3%

P/S

7.0x

P/E

104.5x

Earnings Reports

Q3 2026

May 6, 2026

PENDING

Q2 2026

Feb 4, 2026

$296M-0.4%EPS $0.24

Q1 2026

Nov 5, 2025

$287M-1.0%EPS $0.24

FY 2025

Aug 22, 2025

$1.2B+5.2%EPS $0.46

Q4 2025

Aug 22, 2025

$317M+3.5%EPS -$0.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$224M	$151M	$51M
Q4 21	$259M	$176M	$69M
Q1 23	$270M	$180M	$56M
Q2 23	$272M	$183M	$68M
Q3 23	$294M	$202M	$80M
Q4 23	$301M	$205M	$95M
Q1 24	$277M	$185M	$56M
Q2 24	$273M	$177M	$38M
Q3 24	$303M	$205M	$67M
Q4 24	$306M	$203M	$46M
Q1 25	$289M	$183M	$40M
Q2 25	$297M	$194M	$47M
Q3 25	$316M	$215M	$39M
Q4 25	$317M	$199M	-$24M
Q1 26	$287M	$188M	$48M
Q2 26	$296M	$191M	$54M

Valuation

Quarter	P/S	P/E
Q2 21	10.6x	48.5x
Q4 21	9.8x	55.2x
Q1 23	8.9x	46.0x
Q2 23	8.3x	42.2x
Q3 23	7.7x	37.7x
Q4 23	7.5x	29.7x
Q1 24	7.4x	34.4x
Q2 24	7.4x	37.8x
Q3 24	7.3x	41.8x
Q4 24	7.3x	50.4x
Q1 25	7.2x	56.2x
Q2 25	7.1x	53.6x
Q3 25	7.0x	64.4x
Q4 25	7.0x	115.5x
Q1 26	7.0x	108.7x
Q2 26	7.0x	104.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$89M	$78M
Q4 21	$122M	$111M
Q1 23	$56M	$47M
Q2 23	$64M	$58M
Q3 23	$51M	$39M
Q4 23	$83M	$73M
Q1 24	$59M	$46M
Q2 24	$83M	$68M
Q3 24	$81M	$65M
Q4 24	$75M	$58M
Q1 25	$64M	$55M
Q2 25	$84M	$78M
Q3 25	$41M	$31M
Q4 25	$98M	$93M
Q1 26	$28M	$22M
Q2 26	$82M	$76M

Capital Expenditures

Quarter	CapEx
Q2 21	$11M
Q4 21	$11M
Q1 23	$10M
Q2 23	$6M
Q3 23	$12M
Q4 23	$11M
Q1 24	$14M
Q2 24	$15M
Q3 24	$16M
Q4 24	$18M
Q1 25	$9M
Q2 25	$7M
Q3 25	$10M
Q4 25	$5M
Q1 26	$5M
Q2 26	$6M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+21.3%	+17.1%
Q4 21	+33.1%	+29.7%
Q1 23	+53.4%	+56.3%
Q2 23	+33.0%	+31.3%
Q3 23	+31.2%	+23.5%
Q4 23	+16.3%	+8.6%
Q1 24	+2.7%	+3.6%
Q2 24	+0.4%	+15.2%
Q3 24	+3.2%	+10.5%
Q4 24	+1.6%	+25.9%
Q1 25	+4.5%	+12.8%
Q2 25	+9.0%	+6.4%
Q3 25	+4.2%	+17.4%
Q4 25	+3.5%	+30.9%
Q1 26	-1.0%	-4.2%
Q2 26	-0.4%	-3.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$0	0.0%
Q4 21	$0	0.0%
Q1 23	$14M	5.4%
Q2 23	$17M	6.2%
Q3 23	$10M	3.4%
Q4 23	-$2M	-0.7%
Q1 24	$10M	3.6%
Q2 24	$13M	4.7%
Q3 24	$8M	2.7%
Q4 24	$7M	2.3%
Q1 25	$10M	3.5%
Q2 25	$0	0.0%
Q3 25	$11M	3.6%
Q4 25	$5M	1.4%
Q1 26	$12M	4.1%
Q2 26	$14M	4.7%

OpEx Breakdown

Quarter	R&D	SG&A
Q2 21	$17M	$83M
Q4 21	$21M	$52M
Q1 23	$24M	$99M
Q2 23	$22M	$93M
Q3 23	$23M	$99M
Q4 23	$23M	$61M
Q1 24	$24M	$105M
Q2 24	$23M	$116M
Q3 24	$26M	$112M
Q4 24	$24M	$60M
Q1 25	$24M	$119M
Q2 25	$25M	$121M
Q3 25	$25M	$151M
Q4 25	$26M	$23M
Q1 26	$24M	$116M
Q2 26	$23M	$114M

Revenue by Geography

Quarter	APAC, excluding Greater China	C N	Europe	Rest Of World	U S	United Kingdom
Q1 24	$17M	$25M	$55M	$8M	$159M	$12M
Q2 24	$19M	$24M	$63M	$8M	$148M	$11M
Q3 24	$18M	$26M	$61M	$11M	$173M	$15M
Q4 24	$19M	$24M	$64M	$10M	$178M	$12M
Q1 25	$18M	$24M	$59M	$9M	$165M	$14M
Q2 25	$19M	$25M	$70M	$10M	$160M	$13M
Q3 25	$21M	$24M	$67M	$9M	$182M	$13M
Q4 25	$19M	$27M	$70M	$10M	$176M	$15M
Q1 26	$19M	$25M	$65M	$9M	$155M	$13M
Q2 26	$23M	$26M	$75M	$11M	$147M	$14M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$161M	$70M	$231M
Q4 22	$173M	$74M	$247M
Q1 23	$165M	$38M	$203M
Q2 23	$165M	$32M	$197M
Q3 23	$127M	$30M	$157M
Q4 23	$181M	$24M	$204M
Q1 24	$149M	$0	$149M
Q2 24	$130M	$6M	$136M
Q3 24	$140M	$5M	$145M
Q4 24	$152M	$1M	$153M
Q1 25	$188M	$0	$188M
Q2 25	$178M	$0	$178M
Q3 25	$141M	$0	$141M
Q4 25	$162M	$0	$162M
Q1 26	$145M	$0	$145M
Q2 26	$173M	$0	$173M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	161M	+0.6%	+1.8%
Q4 21	164M	+1.7%	+3.8%
Q1 23	162M	-1.0%	+2.1%
Q2 23	162M	-0.3%	+1.0%
Q3 23	162M	-0.1%	+0.4%
Q4 23	162M	+0.2%	-1.1%
Q1 24	162M	+0.0%	-0.1%
Q2 24	160M	-1.2%	-1.0%
Q3 24	160M	+0.3%	-0.7%
Q4 24	161M	+0.1%	-0.8%
Q1 25	161M	+0.3%	-0.5%
Q2 25	161M	-0.3%	+0.4%
Q3 25	159M	-1.0%	-1.0%
Q4 25	156M	-2.0%	-3.0%
Q1 26	156M	+0.4%	-3.0%
Q2 26	157M	+0.4%	-2.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$97.5K	2K
Q4 21	$99.6K	3K
Q1 23	$89.9K	3K
Q2 23	$90.5K	3K
Q3 23	$98.0K	3K
Q4 23	$98.8K	3K
Q1 24	$90.8K	3K
Q2 24	$89.4K	3K
Q3 24	$99.5K	3K
Q4 24	$98.7K	3K
Q1 25	$93.4K	3K
Q2 25	$95.8K	3K
Q3 25	$102.0K	3K
Q4 25	$102.2K	3K
Q1 26	$92.4K	3K
Q2 26	$95.4K	3K

Revenue / Employee