Bio-rad Laboratories, Inc. · NYSE:BIO
Bio-rad Laboratories — Q2 2025 Earnings Presentation
15 slides from Bio-rad Laboratories's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Financial Results
1 July 31, 2025 Second Quarter 2025 Financial Results Bio-Rad Laboratories, Inc.
Slide 2: Safe Harbor
2 Safe Harbor Some statements in this presentation may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding management’s goals, plans, and expectations, our future financial performance, our futu
Slide 3: Q2 2025 GAAP Financial Results
REVENUE GROSS MARGIN OPERATING MARGIN NET CASH FROM OPERATIONS $652M 53.0% 11.8% $117M 2.1% YoY 1.0% YoY CN* -260bps YoY -410bps YoY +$19M YoY 3 Q2 2025 GAAP Financial Results * Percentage revenue change in currency neutral (CN) amounts are calculated by translating prior period revenue in each loca
Slide 4: Q2 2025 Non-GAAP Financial Results
REVENUE NON-GAAP GROSS MARGIN* NON-GAAP OPERATING MARGIN* FREE CASH FLOW* $652M 53.7% 13.6% $71M 2.1% YoY 1.0% YoY CN** -270bps YoY -310bps YoY +$15M YoY 4 Q2 2025 Non-GAAP* Financial Results * Reconciliations to the comparable GAAP measure for the non-GAAP items shown above are detailed in the reco
Slide 5: Revenue by Business Segment & Geographic Mix
5 Life Science 40% Clinical Diagnostics 60% Revenue by Business Segment Q2 2025 Business Segment Revenue & Geographic Mix Americas 48% EMEA 33% APAC 19% Revenue by Region $652M $652M
Slide 6: Life Science Group
6 Q2 2025 REVENUE $263M 4.9% YoY 3.8% YoY CN* • Driven by increased revenue from process chromatography and food safety products • Q2 revenue was driven by growth in the Americas and EMEA Life Science Group Americas 53% EMEA 29% APAC 18% Geographic Revenue Mix $263M $263M Life Science excluding Proc
Slide 7: Clinical Diagnostics Group
7 Q2 2025 REVENUE $389M 0.2% YoY -0.7% YoY CN* • Increased demand for Quality Controls and immunology products offset lower diabetes testing revenue • CN* revenue decline in Asia Pacific was partially offset by increased sales in EMEA and the Americas Clinical Diagnostics Group * Percentage revenue
Slide 8: Balance Sheet Highlights
8 Balance Sheet Highlights (In $ millions) June 30, 2025 December 31, 2024 Cash & Short-Term Investments $1,374* $1,665 Long-Term Debt $1,201 $1,200 Inventories, net $799 $760 Investment in Sartorius AG $5,156 $4,469 * Cash balance change due to share repurchases, and the completion of Stilla Techno
Slide 9: Full-Year 2025 Outlook
9 Current Prior Revenue CN* YoY 0.0% to +1.0% -1.0% to +1.5% Life Science Revenue CN* YoY 0.0% to +1.0% -3.0% to 0.0% Clinical Diagnostics Revenue CN* YoY +0.5% to +1.5% +0.5% to +2.5% Non-GAAP Gross Margin** 53.5% to 54.5% 53.0% to 54.5% Non-GAAP Operating Margin** 12.0% to 13.0% 10.0% to 12.0% Fre
Slide 10: Appendix
BIO-RAD Appendix
Slide 11: Use of Non-GAAP and Currency-Neutral Reporting
11 Use of Non-GAAP and Currency-Neutral Reporting In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including non-GAAP gross margin and non-GAAP operating margin, which exclude amortization o
Slide 12: Use of Non-GAAP and Currency-Neutral Reporting (Continued)
12 Use of Non-GAAP and Currency-Neutral Reporting (Continued) Restructuring, impairment charges, and gains and losses from change in fair market value of equity securities and loan receivable, and gains and losses on equity-method investments: we incur restructuring and impairment charges on individ
Slide 13: Reconciliation of GAAP financial measures to non-GAAP financial measures
Reconciliation of GAAP financial measures to non-GAAP financial measures
Slide 14: Reconciliation of GAAP financial measures to non-GAAP financial measures (continued)
Reconciliation of GAAP financial measures to non-GAAP financial measures (continued)
Slide 15: Reconciliation of GAAP financial measures to non-GAAP financial measures (continued)
Reconciliation of GAAP financial measures to non-GAAP financial measures (continued)