Bio-Rad Lab-B | 8-K: FY2025 Q2 Revenue: USD 651.6 M

Revenue: As of FY2025 Q2, the actual value is USD 651.6 M.

EPS: As of FY2025 Q2, the actual value is USD 11.67.

Segment Revenue

• Total Net Sales: $651.6 million for Q2 2025, a 2.1% increase from $638.5 million in Q2 2024. On a currency-neutral basis, sales increased by 1.0%.
• Life Science Segment: Net sales were $262.8 million, a 4.9% increase from the same period in 2024. Currency-neutral sales increased by 3.8%.
• Clinical Diagnostics Segment: Net sales were $388.8 million, flat compared to the same period in 2024. Currency-neutral sales decreased by 0.7%.

Operational Metrics

• Gross Margin: GAAP gross margin was 53.0% in Q2 2025, down from 55.6% in Q2 2024. Non-GAAP gross margin was 53.7%, down from 56.4%.
• Income from Operations: GAAP income from operations was $77.1 million, down from $101.5 million in Q2 2024. Non-GAAP income from operations was $88.6 million, down from $106.9 million.
• Net Income: GAAP net income was $317.8 million, compared to a net loss of - $2,165.5 million in Q2 2024. Non-GAAP net income was $71.0 million, down from $88.3 million.

Cash Flow

• Operating Cash Flow: Net cash provided by operating activities was $246.4 million for the six months ended June 30, 2025, compared to $167.4 million for the same period in 2024.
• Free Cash Flow: Free cash flow was $166.3 million for the six months ended June 30, 2025, compared to $84.9 million for the same period in 2024.

Unique Metrics

• Investment Impact: A change in the fair market value of the investment in Sartorius AG significantly contributed to the net income for Q2 2025.

Outlook / Guidance

• Bio-Rad expects non-GAAP, currency-neutral revenue growth of approximately 0 to 1.0% for the full year 2025, an update from the prior estimate of a 1.0% decline to 1.5% growth. The non-GAAP operating margin is now estimated to be approximately 12.0 to 13.0%, up from the previous expectation of 10.0 to 12.0%.
• Expected currency neutral revenue growth for the full year 2025 is between 0.0% to +1.0% for Life Science and +0.5% to +1.5% for Clinical Diagnostics. Non-GAAP gross margin is expected to be between 53.5% to 54.5%, and non-GAAP operating margin between 12.0% to 13.0%. Free cash flow is projected to be between $310 million to $330 million for the full year 2025.