Bio-Rad's Management to Participate in Upcoming Investor ConferencesAug 25, 2025
HERCULES, Calif., August 25, 2025--(BUSINESS WIRE)--Bio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B), a global leader in life science research and clinical diagnostics products, today announced that members of the company’s executive leadership team will participate in the following upcoming investor conferences:
2025 Wells FargoHealthcare Conference
Format: Fireside chat and one-on-one investor meetings
Participants: Norman Schwartz, Chairman and Chief Executive Officer, Roop K. Lakkaraju, Chief Financial Officer
Date and Time: Thursday, September 4, 2025, at 12:45 PM Eastern Time (9:45 AM Pacific Time); a live webcast and subsequent replay of the fireside chat event will be available in the Investor Relations section of Bio-Rad’s website at bio-rad.com
Morgan Stanley23rd Annual Global Healthcare Conference
Format: One-on-one investor meetings
Participants: Roop K. Lakkaraju, Chief Financial Officer
Date: Tuesday, September 9, 2025
About Bio-Rad
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B) is a leader in developing, manufacturing, and marketing a broad range of products for the life science research and clinical diagnostics markets. Based in Hercules, California, Bio-Rad operates a global network of research, development, manufacturing, and sales operations with over 7,500 employees, and $2.6 billion in revenues in 2024. Our customers include universities, research institutions, hospitals, and biopharmaceutical companies, as well as clinical, food safety and environmental quality laboratories. Together, we develop innovative, high-quality products that advance science and save lives. To learn more, visit bio-rad.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20250825108607/en/
Contacts
Investor Contact:
Edward Chung, Investor Relations
510-741-6104
ir@bio-rad.com
Media Contact:
Anna Gralinska, Corporate Communications
510-741-6643
cc@bio-rad.com
View Comments
Bio-Rad raises 2025 life science guidance to flat to 1% growth and expands ddPCR portfolio following Stilla acquisitionAug 1, 2025
Earnings Call Insights: Bio-Rad Laboratories, Inc. (BIO) Q2 2025
MANAGEMENT VIEW
* Norman Schwartz, Chairman & CEO, indicated Bio-Rad delivered solid execution in Q2 2025, with both revenue and operating margin surpassing consensus expectations. Schwartz highlighted: "Our Clinical Diagnostics business remained stable, while our Life Science segment benefited from the strength in our process chromatography portfolio." He noted stabilization in academic markets, particularly in consumables, and drew attention to high single-digit revenue growth in Droplet Digital PCR (ddPCR) consumables versus 2024.
* Jonathan P. DiVincenzo, President & COO, reported the completion of the QX Continuum platform and the closing of the Stilla Technologies acquisition, which brought new platforms and colleagues. He stated, "We launched the rebranded QX700 Series ddPCR instruments. The combination of the QX Continuum and QX700 Series products are positioned to expand our Droplet Digital PCR portfolio for customers requiring a simplified workflow and flexibility at various budget levels."
* DiVincenzo also noted progress with ddPCR partners, including Incyte Molecular Diagnostics and Genoscopy, with the latter's ColoSense test recently included in the National Comprehensive Cancer Network guidelines.
* DiVincenzo announced Rajat Mehta as the new Executive Vice President of Global Commercial Operations, succeeding Mike Crowley, who is retiring.
* Roop K. Lakkaraju, Executive VP & CFO, reported net sales for Q2 2025 of approximately $652 million, a 2.1% increase versus Q2 2024. Lakkaraju stated, "We now expect low double-digit growth for this [process chromatography] product area in 2025 versus our prior high single-digit growth outlook."
OUTLOOK
* Lakkaraju stated that Bio-Rad is raising its 2025 full-year guide to reflect Q2 results, the Stilla acquisition, and evolving market conditions. The company now expects total currency-neutral revenue to be in the range of flat to 1% growth, with the midpoint approximately 25 basis points higher than the previous guide.
* Life Science business is now projected to increase in the range of flat to 1% for the full year, compared to flat to down 3% previously. The ddPCR portfolio is now expected to increase mid-single digit in 2025 versus low single digit previously.
* Diagnostics business is now targeted for growth of 0.5% to 1.5% for 2025, a tightening of the previous range and a 50 basis point reduction at the midpoint.
* Lakkaraju added, "Full year non-GAAP operating margin is now projected to be between 12% and 13% versus 10% and 12% previously, reflecting our updated gross margin outlook along with proactive cost actions we've taken in managing the business."
* The company continues to target full year free cash flow of approximately $310 million to $330 million for 2025.
FINANCIAL RESULTS
* Life Sciences Group sales in Q2 2025 were $263 million, up from $251 million in Q2 2024. Process chromatography business experienced strong double-digit growth year-over-year, with customer orders pulled into the quarter representing approximately 20% of process chromatography sales.
* Clinical Diagnostics Group sales in Q2 2025 were approximately $389 million, essentially flat versus Q2 2024.
* Q2 reported gross margin was 53% versus 55.6% in Q2 2024. On a non-GAAP basis, gross margin was 53.7%. The decrease was attributed to higher material costs and reduced fixed manufacturing absorption.
* Q2 operating income was $77 million or 11.8% of sales. Non-GAAP operating margin was 13.6%.
* Non-GAAP net income was $71 million or $2.61 diluted earnings per share.
* Free cash flow for Q2 2025 was $71 million.
* Share repurchases in Q2 totaled $139 million.
Q&A
* Patrick Bernard Donnelly, Citigroup, inquired about process chromatography sustainability and Stilla's contribution to guidance. Lakkaraju clarified, "We actually raised kind of the previous guide on process chrome from high single digits to low double digits... we see that as continuing to sustain through the rest of the year."
* Donnelly asked about margin changes and tariff impact. Lakkaraju responded, "Tariffs have come down significantly... we now think that that's 30 to 40 bps of headwind on the op margin related to tariffs."
* Daniel Louis Leonard, UBS, questioned diagnostics exposure in China and new policy impacts. Lakkaraju noted, "VBP, we've not seen any impact... DRG, that's something we actually saw earlier in the year... we haven't seen any significant change."
* Brandon Couillard, Wells Fargo, asked about revenue and margin phasing and ddPCR instrument performance. Lakkaraju observed Q3 is expected to look similar to Q2, with Q4 showing seasonal increase. DiVincenzo commented, "Continuum platform was designed to replace qPCR... a lot of excitement about that bringing more precision sensitivity to those applications."
* Jack Meehan, Nephron Research, focused on process chromatography order normalization and food safety business growth. DiVincenzo replied, "It's more of a direct correlation between their demand and what they're ordering from us... food safety business... had continued to grow high single digit."
* Matthew Jay Stanton, Jefferies, probed on process chromatography magnitude and ddPCR commercial strategy. Lakkaraju clarified, "It's not quite 50% on a year-over-year. It's kind of maybe closer to half of that or slightly above half of that sort of number."
SENTIMENT ANALYSIS
* Analysts expressed interest in sustainability of process chromatography growth and clarity on the Stilla acquisition's impact, with a neutral to slightly positive tone focused on guidance transparency and market normalization.
* Management maintained a confident tone in both prepared remarks and responses, frequently emphasizing resilience, adaptability, and proactive cost management. Lakkaraju stated, "We feel like as much as we could be, we have some adaptability there and some resilience."
* Compared to the previous quarter, analyst tone shifted from cautious about macro headwinds to more probing about operational execution and guidance detail, while management tone remained consistently confident, supported by improved outlooks and strategic actions.
QUARTER-OVER-QUARTER COMPARISON
* The current quarter raised guidance for Life Sciences, process chromatography, and ddPCR portfolio growth rates, compared to the previous quarter's more conservative outlook.
* Management's tone continues to be confident, now bolstered by completed acquisitions and higher operating margin expectations (12%–13% versus 10%–12% previously).
* Analysts in the current quarter focused on sustainability of recent growth, integration of Stilla, and tariff impacts, compared to last quarter's emphasis on macroeconomic headwinds and academic funding uncertainty.
* Diagnostics guidance was narrowed and slightly reduced at the midpoint, while process chromatography growth was upgraded.
* Management confidence in cost controls and mitigation strategies has increased, reflecting more concrete actions and positive market signals.
RISKS AND CONCERNS
* Management referenced ongoing headwinds in academic markets due to constrained government funding and continued softness in the biotech and academic research markets, especially for instrument demand.
* China remains a source of uncertainty, with reduced reimbursement rates for diabetes testing and ongoing monitoring of local policy changes. Management noted, "We haven't seen any news that we've got further reimbursement rate changes that could negatively impact us."
* Tariff-related risks persist, though headwinds have lessened, and mitigation strategies are in place, including supply chain flexibility and manufacturing adjustments.
* Analysts raised concerns about fourth quarter ramp, sustainability of process chromatography growth, and the impact of global macroeconomic volatility.
FINAL TAKEAWAY
Bio-Rad Laboratories concluded the quarter with strengthened revenue and margin performance, increased guidance for Life Sciences and process chromatography, and the successful integration of Stilla Technologies. Management underscored resilient demand for consumables and ddPCR products, proactive cost actions, and improved visibility into tariff and China-related risks, supporting a more optimistic outlook for the remainder of 2025.
Read the full Earnings Call Transcript [https://seekingalpha.com/symbol/bio/earnings/transcripts]
MORE ON BIO-RAD LABORATORIES, INC.
* Bio-Rad Laboratories, Inc. (BIO) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4807253-bio-rad-laboratories-inc-bio-q2-2025-earnings-call-transcript]
* Bio-Rad Laboratories, Inc. 2025 Q2 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4807252-bio-rad-laboratories-inc-2025-q2-results-earnings-call-presentation]
* Bio-Rad: With Low Debt And A Stock Price Drop, Is The Company Undervalued? [https://seekingalpha.com/article/4784424-bio-rad-with-low-debt-and-a-stock-price-drop-is-the-company-undervalued]
* Bio-Rad Laboratories, Inc. Non-GAAP EPS of $2.61 beats by $0.86, revenue of $651.6M beats by $37.31M [https://seekingalpha.com/news/4476005-bio-rad-laboratories-inc-non-gaap-eps-of-2_61-beats-by-0_86-revenue-of-651_6m-beats-by-37_31m]
* Bio-Rad Laboratories, Inc. Q2 2025 Earnings Preview [https://seekingalpha.com/news/4474586-bio-rad-laboratories-inc-q2-2025-earnings-preview]
