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Bio-Techne (TECH) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Nov 6, 2026 · Bio-Techne (TECH) Q1 FY27 earnings results →

Q1 FY27 Revenue up 5% year over year to $300M · 9¢ of every $1 of revenue kept as net profit · operating margin 12.2%

Bio-Techne made $300M in Q1 FY27 (+5% Y/Y): Product and Services $285M, Royalty $14.5M. Operating margin 12.2%, net earnings $28.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$300M
Year over year+5%
Operating margin12.2%
Net earnings$28.3M
Operating cash flow$73.1M

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 $299.7M in Q1 FY27, up 5% year over year and down 7% from the previous quarter. Consumables was the largest line at 79% of revenue. Royalty added $8.8M year over year (up 157%), 67% of the total change. Services declined 18%.

Gross margin was 65.6%, unchanged from Q1 FY26. Operating profit was $36.6M, a 12.2% margin (down 4.4 points year over year). Operating profit fell $11.1M even though revenue rose $13.2M versus Q1 FY26, so costs grew faster than sales. Operating expenses grew 14% against revenue growth of 5%. The fastest-growing cost line was SG&A (+15%). Net earnings were $28.3M, down 26% year over year. The effective tax rate was 18.4%.

Operating cash flow was $73.1M (up 165% year over year), 258% of net earnings. Non-cash charges added back $23.7M of depreciation and amortization and $13.4M of share-based compensation. Working capital and other items added $7.7M. Capital expenditures of $5.9M left free cash flow of $67.2M.

Quarterly history

Bio-Techne revenue by quarterBio-Techne revenue by quarter$316MQ3 FY25$317MQ4 FY25$287MQ1 FY26$296MQ2 FY26$311MQ3 FY26$321MQ4 FY26$300MQ1 FY27
Bio-Techne net earnings by quarterBio-Techne net earnings by quarter$22.6MQ3 FY25−$17.7MQ4 FY25$38.2MQ1 FY26$38.0MQ2 FY26$51.0MQ3 FY26$54.6MQ4 FY26$28.3MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QNov 6, 2026$300M+5%12.2%$28.3M$73.1M
Q4 FY2610-KAug 24, 2026$321M+1%23.1%$54.6M$95.4M
Q3 FY2610-QMay 6, 2026$311M-2%24.2%$51.0M$86.7M
Q2 FY2610-QFeb 4, 2026$296M-0.4%18.4%$38.0M$82.4M
Q1 FY2610-QNov 5, 2025$287M-1%16.6%$38.2M$27.6M
Q4 FY2510-KAug 22, 2025$317M+4%-7.5%−$17.7M$98.2M
Q3 FY2510-QMay 8, 2025$316M+4%12.2%$22.6M$41.1M

Charts

Bio-Techne: revenue growth, year over year and quarter over quarterBio-Techne: revenue growth, year over year and quarter over quarterY/YQ/Q+4%Q3 FY25+4%+0%Q4 FY25-1%-10%Q1 FY260%+3%Q2 FY26-2%+5%Q3 FY26+1%+3%Q4 FY26+5%-7%Q1 FY27
Latest (Q1 FY27): Y/Y +5%, Q/Q -7%.
Bio-Techne: where the cash came from (+) and went (−), TTM to Q1 FY27Bio-Techne: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$338MCash drawn (+) / kept (−)−$205MOther financing−$142MShares issued$93.3MDividends−$50.0MCapital spending−$29.4MTaxes on employees’ shares−$10.1MOther investing$6.7MExchange rates−$1.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Bio-Techne: profit against cash, quarter by quarterBio-Techne: profit against cash, quarter by quarterNet incomeOperating cash flow$34.9M$84.3MQ2 FY25$22.6M$41.1MQ3 FY25−$17.7M$98.2MQ4 FY25$38.2M$27.6MQ1 FY26$38.0M$82.4MQ2 FY26$51.0M$86.7MQ3 FY26$54.6M$95.4MQ4 FY26$28.3M$73.1MQ1 FY27
Latest (Q1 FY27): Net income $28.3M, Operating cash flow $73.1M.
Bio-Techne: diluted shares by fiscal yearBio-Techne: diluted shares by fiscal year162MFY21164MFY22162MFY23161MFY24160MFY25157MFY26
-3.0% since FY21: buybacks shrank the count.
Bio-Techne in its industry: growth against margin (76 companies, SIC 2836)Bio-Techne in its industry: growth against margin (76 companies, SIC 2836)revenue growth, year over year →↑ operating marginmedian +9%median -100%AMGNGILDBIIBMRNANBIXEXELHALOMGTXVIRRGENTARSBCRXALECADMAKRYSIOVATWSTIPSCIMCRVISKVCELADPTNVAXKYMRGLUEIBRXAUTLAGENDNAPLXRXRXFENCCSBRCHRSIVVDCRSPEDITDTILVXRTSTRORGNXCCCCBSEMSCLXACOGTSHASRZNVYGRFDMTLENZALGSXFORELUTFATEOCGNSCTXCRBUCGONDBVTINBXMGXLCTXTCRXDYAIPRMEATRAVitro Biopharma, Inc.HUMARLAYPLURBEAMPROKCRDFAIMVIVSTECH (+5%, 12%)
Biological Products, (No Diagnostic Substances); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵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 Bio-Techne

Bio-Techne and its subsidiaries, collectively doing business as Bio-Techne Corporation (“Bio-Techne”, “we”, “our”, “us” or the “Company”), develop, manufacture and sell life science reagents, instruments and services for the research, diagnostics and bioprocessing markets worldwide. Our broad product portfolio and application expertise enables scientific investigations into biological processes and molecular diagnostics, revealing the nature, diagnosis, etiology and progression of specific diseases. Our products aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses.

In its own words, from its 10-K, filed Aug 24, 2026.

Bio-Techne against its Biological Products, (No Diagnostic Substances) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +11%. Operating margin: 12.2% against the peers' median 35.8%.

CompanyQuarterRevenueY/YOp. margin
TECH Bio-TechneQ1 FY27$300M+5%12.2%
AMGN AmgenQ3 2026$10.4B+8%35.8%
GILD Gilead SciencesQ3 2026$8.3B+7%41.7%
BIIB BiogenQ3 2026$2.8B+11%-0.3%
MRNA ModernaQ3 2026$1.3B+29%9.9%
NBIX Neurocrine BiosciencesQ3 2026$1.1B+41%29.5%
EXEL ExelixisQ3 2026$659M+10%40.8%
HALO Halozyme TherapeuticsQ3 2026$493M+39%59.8%
MGTX MeiraGTx HoldingsQ2 2026$321M87×76.0%

Source: Bio-Techne 10-Q on SEC EDGAR · CIK 842023 · Biological Products, (No Diagnostic Substances)

Guidance and outlook

Bio-Techne: what its forward-looking statements are about (10-Q filed 2026-11-06)Bio-Techne: what its forward-looking statements are about (10-Q filed 2026-11-06)Financing1Tax1Deals1Buybacks & dividends1Demand1Other1
6 statements; tone +0.33 (−1 all cautious, +1 all confident); 0 hedged.
Bio-Techne: outlook statements against the filing beforeBio-Techne: outlook statements against the filing beforeConfident2

13F: who owns TECH and who is buying

Largest holders of TECH (13F)Largest holders of TECH (13F)Vanguard Group$1.0BBlackRock$991MFMR LLC$904MVanguard Capital Management LLC$722MGoldman Sachs Group$519MHBK Investments L P$482MVanguard Portfolio Management LLC$460MMorgan Stanley$450MState Street$423MGeode Capital Management, LLC$378M
Funds' net buying of TECH by quarter (13F)Funds' net buying of TECH by quarter (13F)−$160M2024-09−$56.8M2024-12−$37.0M2025-03−$288M2025-06$115M2025-09$528M2025-12$483M2026-03−$358M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on TECH

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Bio-Techne（TECH）财报

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