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Dec 31, 2022
Bio-Techne Q2 2023 Earnings Report
Bio-Techne's Q2 2023 earnings were released, showing revenue growth despite headwinds.
Key Takeaways
Bio-Techne reported a 1% increase in revenue to $271.6 million, with organic growth of 4%. GAAP EPS was $0.31, while adjusted EPS was $0.47. The company faced challenges from slow Biotech funding and COVID-19 impacts in China but saw strength in the US consumable business and Cell Therapy portfolio.
Organic revenue increased by 4% (1% reported) to $271.6 million.
GAAP EPS was $0.31, and adjusted EPS was $0.47, consistent with the prior year.
The ExoDx Prostate test continued to show rapid adoption, with revenues more than doubling year-over-year.
The cell and gene therapy platform experienced successful execution and expansion, marked by a record quarter in GMP protein sales and the launch of RNAscope Plus.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the press release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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