From Investing.com: 2024-05-01 21:16:14

Bio-Techne Corporation showed 2% year-over-year organic revenue growth in Q3, with an adjusted operating margin of 33%. The Diagnostics and Genomics segment had a robust 10% growth, while Protein Sciences declined slightly. Strong demand for the ExoDx Prostate test and Comet platform is driving growth in key market segments, with an optimistic outlook for fiscal year 2025.

Bio-Techne’s focus on strategic growth pillars is paying off, with strong performance in cell and gene therapy, proteomic analysis, spatial biology, and liquid biopsy. The company reported adjusted EPS at $0.48 and Q3 revenue at $303.4 million. With a strong balance sheet and a leverage ratio below 1x EBITDA, Bio-Techne anticipates continued growth in Q4 and high single-digit or double-digit organic growth for fiscal year 2025.

Bio-Techne’s third-quarter performance reflects its strategic initiatives and market positioning. A slight decline in the Protein Sciences segment was outweighed by strong demand for the ExoDx Prostate test and Comet platform. With a focus on expanding its distribution network in Europe and utilizing AI for new product development, Bio-Techne remains well-positioned to capitalize on growth opportunities. The company’s financial strength and optimistic outlook suggest a steady path ahead.



Read more at Investing.com: Bio-Techne sees growth in Q3 with strong market positioning By Investing.com