Bio-Rad Reports Second-Quarter 2025 Financial Results

Original from: Bio-Rad

Bio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B), a global leader in life science research and clinical diagnostics products, today announced financial results for the second quarter ended June 30, 2025.

Norman Schwartz, Bio-Rad’s Chairman and Chief Executive Officer, stated: “In a highly dynamic environment, we delivered solid quarterly results, both in terms of revenue and operating margin, through focused execution and careful expense management. We also completed the acquisition of droplet digital PCR developer Stilla Technologies, effectively expanding our Droplet Digital™ PCR offering with the recent launch of our QX Continuum™ system complemented by the QX700™ series of acquired instruments.”

Financial Results Highlights

Second-Quarter 2025 Results

Second-quarter 2025 total net sales were $651.6 million, an increase of 2.1 percent compared to $638.5 million reported for the second quarter of 2024. On a currency-neutral basis, quarterly sales increased 1.0 percent compared to the same period in 2024, primarily due to higher sales of process chromatography products.

Life Science segment net sales for the second quarter were $262.8 million, an increase of 4.9 percent compared to the same period in 2024. On a currency-neutral basis, Life Science segment sales increased by 3.8 percent compared to the same quarter in 2024. The currency-neutral year-over-year sales increase was driven by increased process chromatography and food safety product sales.

Clinical Diagnostics segment net sales for the second quarter were $388.8 million, essentially flat compared to the same period in 2024. On a currency-neutral basis, net sales decreased 0.7 percent versus the same quarter last year. The currency-neutral year-over-year sales decrease was primarily driven by lowered reimbursements for diabetes testing in China, partially offset by increased demand for our quality control and immunology products.

During the second quarter of 2025, the company recognized a change in the fair market value of its investment in Sartorius AG, which substantially contributed to a net income of $317.8 million, or $11.67 per share, on a diluted basis, versus a net loss of $(2,165.5) million, or $(76.26) per share, on a diluted basis, reported for the same period of 2024.

The effective tax rate for the second quarter of 2025 was 23.2 percent, compared to 22.3 percent for the same period in 2024. The higher rate in 2025 was driven by the accounting treatment of our equity securities and geographical mix of earnings.

Non-GAAP net income for the second quarter of 2025 was $71.0 million, or $2.61 per share, on a diluted basis, compared to $88.3 million, or $3.11 per share, on a diluted basis, during the same period in 2024.

The non-GAAP effective tax rate for the second quarter of 2025 was 22.7 percent, compared to 23.5 percent for the same period in 2024. The lower rate in 2025 was driven by geographical mix of earnings.

Updated Full-Year 2025 Financial Outlook

Bio-Rad is updating its financial outlook for the full year 2025. The company currently expects non-GAAP, currency-neutral revenue growth of approximately 0 to 1.0 percent versus its prior estimated range of approximately a 1.0 percent decline to 1.5 percent growth. Non-GAAP operating margin is now estimated to be approximately 12.0 to 13.0 percent compared to the company’s prior expectation of approximately 10.0 to 12.0 percent.

Source: Bio-Rad Reports Second-Quarter 2025 Financial Results