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Bio-Rad Laboratories (BIO) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Bio-Rad Laboratories (BIO) Q3 2026 earnings results →
Q3 2026 Revenue up 0% year over year to $656M · 70¢ of every $1 of revenue kept as net profit · operating margin -7.6%
Bio-Rad Laboratories made $656M in Q3 2026 (+0.5% Y/Y): Clinical Diagnostics $402M, Life Science $255M. Operating margin -7.6%, net earnings $459M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $656.4M in Q3 2026, up 1% year over year and up 1% from the previous quarter. Clinical Diagnostics was the largest line at 61% of revenue. Clinical Diagnostics added $10.6M year over year (up 3%), 312% of the total change. Life Science declined 3%.
Gross margin was 50.1%, down 2.5 points from Q3 2025. Operating costs exceeded revenue by $49.7M, an operating margin of -7.6%. Operating expenses grew 36% against revenue growth of 1%. The fastest-growing cost line was SG&A (+24%). Net earnings were $458.6M. The effective tax rate was 14.9%. Non-operating items added $588.4M, 109% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $96.4M (down 20% year over year), 21% of net earnings. Non-cash charges added back $15.5M of share-based compensation. Working capital and other items used $377.7M. Capital expenditures of $31.2M left free cash flow of $65.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $656M | +0.5% | -7.6% | $459M | $96.4M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $651M | -0.1% | 11.2% | $371M | $98.7M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $592M | +1% | 5.8% | −$527M | $108M |
| Q4 2025 | 10-K | Feb 13, 2026 | $693M | +4% | -17.2% | $720M | $165M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $653M | +0.5% | 10.0% | −$342M | $121M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $652M | +2% | 11.8% | $318M | $116M |
| Q1 2025 | 10-Q | May 1, 2025 | $585M | -4% | 4.0% | $64.0M | $130M |
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Customers and suppliers named in filings
Sells to
About Bio-Rad Laboratories
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 approximately 7,400 employees and $2.6 billion in revenues in 2025. 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
In its own words, from its 8-K, filed Aug 4, 2026.
Bio-Rad Laboratories against its Laboratory Analytical Instruments peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.5% against the peers' median +4%. Operating margin: -7.6% against the peers' median 8.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BIO Bio-Rad Laboratories | Q3 2026 | $656M | +0.5% | -7.6% |
| A Agilent Technologies | Q3 FY26 | $1.9B | +8% | 23.6% |
| WAT Waters | Q3 2026 | $1.8B | +121% | 7.2% |
| AVTR Avantor | Q3 2026 | $1.7B | +5% | 8.2% |
| ILMN Illumina | Q3 2026 | $1.1B | +4% | 27.0% |
| MTD Mettler Toledo International | Q3 2026 | $1.1B | +6% | 27.4% |
| BRKR Bruker | Q3 2026 | $874M | +2% | -10.4% |
| RVTY Revvity | Q3 2026 | $729M | +4% | 10.6% |
| TXG 10x Genomics | Q3 2026 | $151M | +1% | -10.7% |
Source: Bio-Rad Laboratories 10-Q on SEC EDGAR · CIK 12208 · Laboratory Analytical Instruments
Guidance and outlook
13F: who owns BIO and who is buying
More on BIO
- How Bio-Rad Laboratories makes money: revenue by segment
- Bio-Rad Laboratories next earnings date and what analysts expect
- Bio-Rad Laboratories stock forecast, price target and fair value
- Who owns Bio-Rad Laboratories stock: holders, funds and Congress trades
- Bio-Rad Laboratories guidance and outlook
- Is Bio-Rad Laboratories a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Bio-Rad Laboratories guidance history: guided vs reported
- Bio-Rad Laboratories gross margin by quarter
- Bio-Rad Laboratories operating margin by quarter
- Bio-Rad Laboratories net income by quarter
- Bio-Rad Laboratories free cash flow by quarter
- Bio-Rad Laboratories R&D spending by quarter
- Bio-Rad Laboratories capital expenditures by quarter
- Bio-Rad Laboratories Clinical Diagnostics revenue by quarter
- Bio-Rad Laboratories Life Science revenue by quarter