Financial Performance - Net sales for Q1 2024 were $610.8 million, a decrease of 9.8% compared to $676.8 million in Q1 2023[124] - Life Science segment sales decreased by 25.3% to $241.7 million in Q1 2024, driven by weakness in biotech and biopharma markets[124] - Clinical Diagnostics segment sales increased by 4.7% to $368.6 million in Q1 2024, primarily due to increased demand for quality controls and blood typing[125] - Consolidated gross margin for Q1 2024 was 53.4%, slightly down from 53.5% in Q1 2023[126] Expenses - Selling, general and administrative (SG&A) expenses were $214.9 million, or 35.2% of sales, compared to $225.6 million, or 33.3% of sales in Q1 2023[127] - Research and development (R&D) expenses were $66.4 million, or 10.9% of sales, down from $75.0 million, or 11.1% of sales in Q1 2023[128] Cash Flow and Investments - Net cash provided by operations was $69.8 million for Q1 2024, down from $98.1 million in Q1 2023[138] - Cash and short-term investments totaled $1.65 billion as of March 31, 2024, with approximately 16% held in foreign subsidiaries[135] Tax and Gains - The effective income tax rate increased to 21.8% in Q1 2024 from 18.7% in Q1 2023, influenced by geographical mix of earnings[133] - Gains from changes in fair market value of equity securities were $422.2 million in Q1 2024, compared to a loss of $17.5 million in Q1 2023[131]

Financial Performance - First-quarter 2024 total net sales were $610.8 million, a decrease of 9.8% compared to $676.8 million in Q1 2023[2] - Clinical Diagnostics segment net sales increased by 4.7% to $368.6 million, driven by demand for quality control, blood typing, and diabetes products[3] - Life Science segment net sales decreased by 25.3% to $241.7 million, primarily due to weakness in the biotech and biopharma markets[25] - Non-GAAP net income for Q1 2024 was $65.2 million, or $2.29 per share, down from $99.4 million, or $3.34 per share in Q1 2023[8] - The company reported a net income of $383.9 million for Q1 2024, significantly higher than $69.0 million in Q1 2023, primarily due to changes in the fair market value of equity securities[27] - GAAP net income for the current period is $383,916, representing a 62.9% increase compared to $68,962 in the previous period[45] - Non-GAAP net income is reported at $65,217, which is a 10.7% increase from $99,360 in the previous period[45] - Total net sales decreased to $610,820 from $676,844, reflecting a decline of approximately 9.8%[53] Expenses and Margins - Cost of goods sold (GAAP) decreased to $284,854 from $314,427, a reduction of about 9.4%[53] - Research and development expenses decreased to $66,375 from $74,951, a decline of approximately 11.6%[53] - Non-GAAP income from operations is $59,007, which is 9.7% of total revenue, compared to $84,167 or 12.4% in the previous period[45] - GAAP diluted earnings per share is $13.45, up from $2.32 in the previous period[53] - Adjusted EBITDA for the current period is $108,535, representing 17.8% of total revenue, compared to $148,541 or 21.9% in the previous period[46] - Non-GAAP gross margin for Q1 2024 was 54.2%, unchanged from Q1 2023[28] - GAAP gross profit for Q1 2024 was $325,966, accounting for 53.4% of revenue, compared to $362,417 or 53.5% in Q1 2023[56] - Non-GAAP gross profit for Q1 2024 was $330,932, maintaining 54.2% of revenue, consistent with Q1 2023[56] Tax and Financial Outlook - The effective tax rate for Q1 2024 was 21.8%, compared to 18.7% in Q1 2023, influenced by the accounting treatment of equity securities[5] - The company maintains its full-year 2024 financial outlook, expecting non-GAAP, currency-neutral revenue growth of approximately 1.0% to 2.5%[11] - Management expressed cautious optimism about a gradual recovery in the biopharma market in the second half of the year[28] - The financial outlook for 2024 indicates a focus on maintaining operational efficiency and exploring new market opportunities[60] Assets and Liabilities - Total current assets increased to $3,060,936 from $3,048,330, representing a growth of 0.3%[54] - Total liabilities remained stable at $3,558,759, slightly up from $3,557,937[54] - Cash, cash equivalents, and restricted cash at the end of the period were $433,752, down from $464,503[55] - The company’s total stockholders' equity increased to $9,051,134 from $8,741,133, reflecting a growth of 3.5%[54] - The company utilized $406,458 for purchases of marketable securities and investments, compared to $203,588 in the previous year[55] Operational Performance - Income from operations for Q1 2024 was $59.0 million, down from $84.2 million in the prior-year period[29] - The company incurred a loss of $422,177 from changes in the fair market value of equity securities and loan receivables[45] - The forecasted non-GAAP operating margin excludes 87 basis points related to amortization of purchased intangibles[47] - Net cash provided by operating activities decreased to $69,792 from $98,119, a decline of 29.0% year-over-year[55]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31, 2023 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________________ to _________________________________ Commission file number1-7928 BIO-RAD LABORATORIES, INC. (Exact name of registrant as specified in its ...

4. INVENTORY Following are the components of Inventory at September 30, 2023 and December 31, 2022 (in millions): 21 | --- | --- | --- | --- | |---------------------|-----------|-------|-----------------------| | Inventory: | September | | December 31, 2022 | | Raw materials | $ | $ | 228.8 | | Work in process | | | 220.9 | | Finished goods | | | 269.6 | | Total Inventory | $ | $ | 719.3 | 5. SUPPLEMENTAL CASH FLOW INFORMATION | --- | --- | --- | --- | --- | |------------------------------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______________to __________ (510) 724-7000 Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during th ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______________to __________ (510) 724-7000 For the quarterly period ended March 31, 2023 Securities registered pursuant to Section 12(b) of the Act: | --- | --- | --- | |---------------------------------------------------|-------------------|-------------------------------------------| | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | Class A Common ...

Immaterial Correction to Previously Issued Consolidated Financial Statements During the fourth quarter of 2022, we determined that an error existed in our previously issued consolidated financial statements. Specifically, we identified certain software development costs that were expensed prior to and during 2020, 2021 and 2022 which should have been capitalized in accordance with Accounting Standards Codification 350, Intangibles – Goodwill and Other ("ASC 350"). The error was evaluated under the U.S. Secu ...

Part I [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the nine months ended September 30, 2022, highlighting a significant decrease in total assets and a net loss primarily due to unrealized losses on equity investments [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The company's financial position as of September 30, 2022, shows total assets decreased to $12.1 billion, a net loss of $4.46 billion, and significantly reduced operating cash flow, primarily due to equity investment losses Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2022 (Unaudited) | Dec 31, 2021 | | :--- | :--- | :--- | | **Total Assets** | **$12,058,462** | **$17,775,795** | | Total current assets | $3,140,155 | $1,989,088 | | Other investments | $7,459,169 | $14,387,006 | | **Total Liabilities** | **$3,604,857** | **$4,108,661** | | **Total Stockholders' Equity** | **$8,453,605** | **$13,667,134** | Condensed Consolidated Statements of Income (Loss) Highlights (in thousands, except per share data) | Metric | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | Net sales | $2,071,961 | $2,189,776 | | Gross profit | $1,173,333 | $1,239,660 | | Income from operations | $356,436 | $382,448 | | (Gains) losses from change in fair market value of equity securities | $6,172,306 | $(7,078,753) | | **Net income (loss)** | **$(4,461,029)** | **$5,819,561** | | **Diluted earnings (loss) per share** | **$(149.60)** | **$192.76** | Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $104,027 | $498,597 | | Net cash used in investing activities | $(1,138,278) | $(229,954) | | Net cash provided by (used in) financing activities | $1,060,195 | $(60,064) | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail significant events including the acquisition of Curiosity Diagnostics, a $6.0 billion unrealized loss on the Sartorius AG investment, issuance of $1.2 billion in senior notes, and ongoing European restructuring efforts - On August 3, 2022, the company acquired Curiosity Diagnostics for a total consideration of **$137.1 million**, including **$36.1 million** in potential contingent payments, to facilitate entry into the molecular disease testing market[52](index=52&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk) - The company's investment in Sartorius AG experienced a significant decline in value, resulting in a **$6.00 billion loss** in fair market value for the nine months ended September 30, 2022[69](index=69&type=chunk)[70](index=70&type=chunk) - In March 2022, the company issued **$1.2 billion** in senior notes, consisting of **$400.0 million** due in 2027 (3.3% interest) and **$800.0 million** due in 2032 (3.7% interest)[90](index=90&type=chunk)[91](index=91&type=chunk) Segment Net Sales (in millions) | Segment | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | Life Science | $987.5 | $1,074.2 | | Clinical Diagnostics | $1,081.4 | $1,111.0 | - The company's European restructuring plan, initiated in February 2021, is expected to be substantially complete by mid-2023, with total incurred expenses of **$69.0 million** and a remaining liability of **$36.4 million** through September 30, 2022[111](index=111&type=chunk)[112](index=112&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reports a 5.4% decrease in net sales for the first nine months of 2022, driven by lower COVID-related sales and currency impacts, with a net loss primarily from equity security revaluation and reduced operating cash flow Net Sales Performance (Q3 2022 vs Q3 2021) | Metric | Q3 2022 | Q3 2021 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $680.8 million | $747.0 million | -8.9% | | COVID-related Sales | $17.2 million | $57.1 million | -69.9% | | Currency Neutral Sales | - | - | -4.1% | Net Sales Performance (Nine Months 2022 vs Nine Months 2021) | Metric | 9M 2022 | 9M 2021 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $2.07 billion | $2.19 billion | -5.4% | | COVID-related Sales | $95.7 million | $220.1 million | -56.5% | | Currency Neutral Sales | - | - | -1.5% | - Supply chain constraints and lockdowns in China negatively impacted sales, particularly instrument placements, causing a significant backlog of sales orders expected to continue through the remainder of 2022 and into 2023[133](index=133&type=chunk) - The change in fair market value of equity securities and a related loan receivable resulted in a **$6.17 billion loss** for the first nine months of 2022, compared to a **$7.08 billion gain** in the same period of 2021, primarily due to holding losses on the Sartorius AG position[164](index=164&type=chunk) - Net cash from operations decreased to **$104.0 million** for the first nine months of 2022 from **$498.6 million** in the prior year, due to lower cash receipts from customers and higher payments to suppliers and for taxes and interest[170](index=170&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes have occurred in the company's market risk disclosures since the Annual Report on Form 10-K for the year ended December 31, 2021 - There have been no material changes from the disclosures about market risk provided in the Annual Report on Form 10-K for the year ended December 31, 2021[181](index=181&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of September 30, 2022, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that as of September 30, 2022, the company's disclosure controls and procedures were effective at a reasonable assurance level[183](index=183&type=chunk) - No changes in internal control over financial reporting were identified during the quarter ended September 30, 2022, that have materially affected or are likely to materially affect internal controls[184](index=184&type=chunk) Part II – Other Information [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various ordinary course legal proceedings, which management does not expect to materially adversely affect its financial condition or results - The company is a party to various legal proceedings arising in the ordinary course of business, which are not expected to have a material adverse effect on its financial condition or results of operations[109](index=109&type=chunk)[185](index=185&type=chunk) [Risk Factors](index=45&type=section&id=Item%201A.%20Risk%20Factors) Key risks include ongoing pandemic impacts on supply chains and demand, material changes in the Sartorius AG investment value, international operational complexities, regulatory compliance, and cybersecurity threats - The COVID-19 pandemic continues to pose risks, including decreased demand for some products, supply chain challenges causing significant order backlogs expected to last into 2023, and increased raw material and freight costs[188](index=188&type=chunk)[190](index=190&type=chunk)[191](index=191&type=chunk) - Changes in the market value of the company's large equity position in Sartorius AG materially impact financial results and could lead to the company being deemed an "investment company" under the Investment Company Act of 1940[211](index=211&type=chunk)[213](index=213&type=chunk) - The company faces significant risks from its international operations, which account for **59% of net sales**, including foreign currency exchange fluctuations, complex foreign laws (e.g., FCPA, UK Bribery Act), and trade barriers[197](index=197&type=chunk)[198](index=198&type=chunk)[210](index=210&type=chunk) - The business is subject to substantial government regulation, including from the FDA and foreign counterparts like the EU IVDR, which could lead to product approval delays, recalls, or fines and increase compliance costs[229](index=229&type=chunk)[230](index=230&type=chunk)[233](index=233&type=chunk) - Cybersecurity threats, including data breaches and phishing schemes, and potential disruptions from the ongoing multi-year implementation of a new global ERP system, pose significant operational risks[205](index=205&type=chunk)[218](index=218&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=60&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) As of September 30, 2022, $298.1 million remained under the Share Repurchase Program, with no shares repurchased during the third quarter - The company's Share Repurchase Program had **$298.1 million** available for future repurchases as of September 30, 2022[268](index=268&type=chunk) - No shares were purchased under the publicly announced repurchase program during the three months ended September 30, 2022[269](index=269&type=chunk) [Other Information, Exhibits, and Signatures](index=60&type=section&id=Item%203-6%20%26%20Signatures) This section confirms no defaults or other material information under Item 5, lists exhibits including CEO and CFO certifications, and concludes with executive signatures dated October 28, 2022 - The company reported no defaults upon senior securities, no mine safety disclosures, and no other information required under Item 5[269](index=269&type=chunk)[270](index=270&type=chunk) - The report was signed and certified by Norman Schwartz (CEO) and Ilan Daskal (CFO) on October 28, 2022[275](index=275&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______________to __________ Commission file number 1-7928 BIO-RAD LABORATORIES, INC. (Exact name of registrant as specified in its charter) Delaware 94-1381833 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______________to __________ Commission file number 1-7928 BIO-RAD LABORATORIES, INC. (Exact name of registrant as specified in its charter) Delaware 94-1381833 ...