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Bruker (BRKR) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Bruker (BRKR) Q3 2026 earnings results →

Q3 2026 Revenue up 2% year over year to $874M · 13¢ of every $1 of revenue lost · operating margin -10.4%

Bruker made $874M in Q3 2026 (+2% Y/Y): BSIBIOS $397M, Bsi Nano $263M, BSIBMID $134M. Operating margin -10.4%, net loss $110M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$874M
Year over year+2%
Operating margin-10.4%
Net earnings−$110M
Operating cash flow$118M

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 $874.0M in Q3 2026, up 2% year over year and up 4% from the previous quarter. BSIBIOS was the largest line at 45% of revenue. Energy and Supercon Technologies added $7.5M year over year (up 10%), 56% of the total change. Bsi Nano declined 1%.

Gross margin was 49.1%, up 5.0 points from Q3 2025. Operating costs exceeded revenue by $91.0M, an operating margin of -10.4%. Operating expenses grew 21% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+123%). The quarter ended with a net loss of $109.7M, wider than the previous quarter's $50.9M loss.

Operating cash flow was $118.2M. Non-cash charges added back $54.1M of depreciation and amortization and $6.1M of share-based compensation. Working capital and other items added $167.7M. After purchases of property, plant and equipment and intangible assets ($21.5M), free cash flow as the company reports it was $96.7M.

Quarterly history

Bruker revenue by quarterBruker revenue by quarter$801MQ1 2025$797MQ2 2025$860MQ3 2025$977MQ4 2025$823MQ1 2026$838MQ2 2026$874MQ3 2026
Bruker net earnings by quarterBruker net earnings by quarter$17.4MQ1 2025$7.6MQ2 2025−$58.5MQ3 2025$26.0MQ4 2025$14.4MQ1 2026−$50.9MQ2 2026−$110MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$874M+2%-10.4%−$110M$118M
Q2 202610-QAug 5, 2026$838M+5%-7.8%−$50.9M−$77.4M
Q1 202610-QMay 7, 2026$823M+3%1.2%$14.4M$71.2M
Q4 202510-KFeb 27, 2026$977M-0.2%7.8%$26.0M$230M
Q3 202510-QNov 5, 2025$860M-0.5%-6.0%−$58.5M−$33.2M
Q2 202510-QAug 6, 2025$797M-0.4%1.5%$7.6M−$128M
Q1 202510-QMay 7, 2025$801M+11%4.0%$17.4M$65.0M

Charts

Bruker: revenue growth, year over year and quarter over quarterBruker: revenue growth, year over year and quarter over quarterY/YQ/Q+11%Q1 20250%0%Q2 20250%+8%Q3 20250%+14%Q4 2025+3%-16%Q1 2026+5%+2%Q2 2026+2%+4%Q3 2026
Latest (Q3 2026): Y/Y +2%, Q/Q +4%.
Bruker: where the cash came from (+) and went (−), TTM to Q3 2026Bruker: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$342MNet borrowing (+) / repaid (−)−$216MCash drawn (+) / kept (−)$174MCapital spending−$97.1MOther financing−$87.2MAcquisitions−$77.2MDividends−$30.3MOther investing−$18.9MExchange rates$11.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Bruker: profit against cash, quarter by quarterBruker: profit against cash, quarter by quarterNet incomeOperating cash flow$13.9M$190MQ4 2024$16.8M$65.0MQ1 2025$4.2M−$128MQ2 2025−$58.5M−$33.2MQ3 2025$29.2M$230MQ4 2025$15.7M$71.2MQ1 2026−$50.9M−$77.4MQ2 2026−$110M$118MQ3 2026
Latest (Q3 2026): Net income −$110M, Operating cash flow $118M.
Bruker: diluted shares by fiscal yearBruker: diluted shares by fiscal year0MFY20200MFY20210MFY2022147MFY2023150MFY2024152MFY2025
+98188774.5% since FY2020: more shares outstanding (issuance, stock pay).
Bruker: long-term debt falling due (FY2025)Bruker: long-term debt falling due (FY2025)$11.9M2026$19.3M2027$20.4M2028$539M2029$10.9M2030$1.3BLater
Cash $299M, short-term investments —, long-term debt $1.9B at 2025-12-31.
Bruker in its industry: growth against margin (23 companies, SIC 3826)Bruker in its industry: growth against margin (23 companies, SIC 3826)revenue growth, year over year →↑ operating marginmedian +6%median -11%AWATAVTRILMNMTDRVTYBIOTXGCTKBPACBALMRQTRXHBIOMASSBNGORPIDPRPOSEERLCTCSCNDEYPTASTCBRKR (+2%, -10%)
Laboratory Analytical Instruments; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Bruker

We are a developer, manufacturer, and distributor of high-performance scientific instruments and analytical and diagnostic solutions that enable our customers to explore life and materials at microscopic, molecular and cellular levels. Many of our products are used to detect, measure and visualize structural characteristics of chemical, biological and industrial material samples. Our products and solutions address the rapidly evolving needs of a diverse array of customers in life and materials science research, biopharmaceuticals, applied markets, microbiology, in-vitro diagnostics, and nanotechnology. Our technology platforms include magnetic resonance, mass spectrometry, gas and liquid chromatography, X-ray, microscopy, metrology, and molecular spectroscopy technologies.

In its own words, from its 10-K, filed Feb 27, 2026.

Bruker against its Laboratory Analytical Instruments peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +4%. Operating margin: -10.4% against the peers' median 8.2%.

CompanyQuarterRevenueY/YOp. margin
BRKR BrukerQ3 2026$874M+2%-10.4%
A Agilent TechnologiesQ3 FY26$1.9B+8%23.6%
WAT WatersQ3 2026$1.8B+121%7.2%
AVTR AvantorQ3 2026$1.7B+5%8.2%
ILMN IlluminaQ3 2026$1.1B+4%27.0%
MTD Mettler Toledo InternationalQ3 2026$1.1B+6%27.4%
RVTY RevvityQ3 2026$729M+4%10.6%
BIO Bio-Rad LaboratoriesQ3 2026$656M+0.5%-7.6%
TXG 10x GenomicsQ3 2026$151M+1%-10.7%

Source: Bruker 10-Q on SEC EDGAR · CIK 1109354 · Laboratory Analytical Instruments

Guidance and outlook

Bruker Revenue: guidance against what was reportedBruker Revenue: guidance against what was reportedguided rangereported (above / within / below)FY2024$3.4BFY2025$3.4BFY2026
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Bruker: what its forward-looking statements are about (10-Q filed 2026-11-05)Bruker: what its forward-looking statements are about (10-Q filed 2026-11-05)Demand5Other3Legal & regulation3The economy2Buybacks & dividends2Deals1
16 statements; tone -0.19 (−1 all cautious, +1 all confident); 6 hedged.
Bruker: outlook statements against the filing beforeBruker: outlook statements against the filing beforeConfident1Cautious4

13F: who owns BRKR and who is buying

Largest holders of BRKR (13F)Largest holders of BRKR (13F)FMR LLC$1.2BOrbis Allan Gray$1.1BBlackRock$686MPallas Capital Advisors LLC$571MVanguard Group$483MVanguard Portfolio Management LLC$294MVanguard Capital Management LLC$292MState Street$242MFranklin Resources$194MSachem Head Capital Management LP$175M
Funds' net buying of BRKR by quarter (13F)Funds' net buying of BRKR by quarter (13F)$225M2024-09$300M2024-12−$78.2M2025-03$156M2025-06$321M2025-09$256M2025-12−$17.4M2026-03$202M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BRKR

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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