FY26 · Ended Jun 30, 2026 · View SEC filing
One segment earns more than the whole company
Reagents carry the profit; the gap to reported income is mostly acquisition amortization, stock pay and restructuring held outside the segments.
For investorsWhat the reagent engine needs to grow again
For foundersBuilding a product customers cannot easily switch away from
Selling and administrative cost fell as a prior-year impairment and arbitration loss rolled off, while the company says adjusted earnings slipped.
Free cash flow stayed close to the prior year's level, so the reported earnings swing says more about charges than the business.
Consumables make up most of sales, and switching a validated reagent puts an experiment at risk, so purchases recur.
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Business Lens describes Bio-Techne from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
