ST. LOUIS, April 23, 2025 (GLOBE NEWSWIRE) -- Solis Agrosciences, the trusted partner for high-quality AgTech research services, announced that it has hired Crystal Winkeler as Chief Business Officer. Winkeler will join Solis on May 1 to drive the company's commercial team and help lead efforts to develop and acquire new offerings. "Solis has assembled an impressive team, offerings, and customer base," said Winkeler. "I am thrilled to join the business at this important growth stage." "Crystal is a proven t ...

Financial Results - Bruker Corporation announced preliminary revenue for Q1 2025, with figures subject to finalization before the May 7, 2025 release[5] - The preliminary financial results are unaudited and may undergo significant changes upon completion of financial closing procedures[6] - The company emphasizes that undue reliance should not be placed on these preliminary estimates due to their preliminary nature[8]

Technology and Innovation - The company reported successful installations of three 1.2 GHz NMR systems, enhancing ultra-high field access for studies in structural biology, pharmacology, and cellular biology[17]. - The acquisition of Spectral Instruments Imaging and Chemspeed Technologies AG was completed, expanding technological capabilities and product portfolio in preclinical imaging and lab automation[18][19]. - The minority investment in NovAliX aims to enhance expertise in structural biology and biophysics within the preclinical Contract Research Organization space[20]. - The company launched several new technologies in 2024, including the NIR-spectrometer BEAM and the next-generation Multi-Purpose Analyzer (MPA-III)[33]. - The introduction of machine learning algorithms and cloud-based applications, such as Novor V2.0 and TwinScape™, supports advancements in immunopeptidomics and quality control[33]. - The BSI BioSpin Segment focuses on high-value applications in structural proteomics, drug discovery, and biopharmaceutical research, catering to diverse customer needs[15]. - The BSI CALID Segment includes mass spectrometry solutions for various markets, including food safety, environmental analysis, and clinical diagnostics[31]. - The automation portfolio supports lab digitalization and connectivity, improving efficiency and compliance in research and quality control[28]. - The comprehensive software suite facilitates digitalization and AI readiness, integrating robotics and automation technologies for transformative lab solutions[29]. - The acquisition of Tornado Spectral Systems Inc. enhanced the Raman spectrometers product line with patented HTVS™ technology for improved chemical identification and quantification[35]. - The acquisition of Nanophoton Corporation added advanced Raman microscopes to the Bruker Optics division, significantly reducing measurement time by several hundred times[35]. - The acquisition of Dynamic Biosensors GmbH expanded the biophysical analytics portfolio, focusing on molecular interactions and kinetics[35]. - The acquisition of ELITechGroup complemented the MALDI BioTyper® platform, establishing Bruker as a growing specialist in infectious disease diagnostics[35]. - The BSI NANO Segment includes advanced X-ray instruments for determining the characteristics of matter and three-dimensional molecular structures[50]. - The BSI NANO Segment's XRD systems contribute to reduced development cycles for new products in various industries, including catalysts and semiconductors[53]. - The BSI NANO Segment's XRF systems provide qualitative and quantitative analysis of elemental composition, covering nearly all elements in the periodic table[54]. - The acquisition of NanoString Technologies led to the creation of the Bruker Spatial Biology division, enhancing capabilities in spatial transcriptomics and gene expression analysis[52]. - The Bruker Spatial Biology division offers technologies for elucidating gene and protein expression in a spatial context, aiding in biomarker development[50]. - The SC-XRD systems determine the three-dimensional structures of both small chemical molecules and larger biomolecules, critical for molecular analysis[57]. - The company offers a range of µCT systems that provide 3D imaging with resolution down to the sub-micron level, used in materials research and life sciences[58]. - EDS systems allow for simultaneous analysis of all elements in the periodic table, with applications in nanotechnology and materials analysis[59]. - EBSD systems provide quantitative microstructure analysis with sub-micron resolution, applicable in industries such as aerospace and automotive[60]. - S-OES instruments enable comprehensive metals analysis, widely used in production control laboratories[61]. Financial Performance and Revenue - The company maintains a diverse customer base with no single customer accounting for more than 10% of revenue in the last three fiscal years[81]. - The sales cycle for high-end research products typically ranges from three to twenty-four months, while industrial products range from two weeks to six months[78]. - The company has higher revenue levels in the fourth quarter, influenced by customer budgeting cycles[80]. - Revenue from U.S. operations represented approximately 28% of total consolidated revenue for fiscal 2024, up from 26% in 2023[124]. - Revenue from operations in Europe accounted for approximately 35% of total consolidated revenue for fiscal 2024, compared to 33% in 2023[124]. - Revenue from operations in the Asia Pacific region represented approximately 29% of total consolidated revenue for fiscal 2024, down from 33% in 2023[124]. - A significant portion of revenue is derived from U.S. academic institutions and research organizations, which rely on government funding, including NIH grants[129]. - International sales accounted for approximately 72% of total consolidated revenue for fiscal 2024, down from 74% in 2023[130]. - The company recorded net losses from currency translation adjustments of $79.6 million in 2024, while gaining $76.2 million in 2023[135]. - The company has not recorded impairments to goodwill for the years ended December 31, 2024, 2023, and 2022, but did incur an impairment loss for intangible assets during fiscal 2024[137]. - The company employed 11,396 full-time employees as of December 31, 2024, up from 9,707 in 2023, reflecting a growth in workforce[109]. - Total remaining performance obligations as of December 31, 2024, and 2023 were approximately $2,090.4 million and $2,226.7 million, respectively, indicating a decrease driven by lower BEST order bookings[107]. Market and Competitive Landscape - The company faces competition from various established firms across multiple segments, necessitating continuous innovation and technological advancement[82]. - The company faces substantial competition, with competitors potentially developing more effective products, which could lead to pricing pressure[141]. - A significant portion of sales are capital purchases, and any reduction in capital spending by customers could significantly decrease demand for the company's products[145]. - The company is dependent on investment in life science research, and any decline in funding could adversely affect revenue generation[142]. - The company is experiencing inflationary pressures and may increase product prices to offset these costs, which could impact demand[127]. - The company is subject to risks associated with geopolitical tensions, which could negatively affect business operations and financial condition[127]. - The imposition of tariffs by the United States on imported goods could increase costs and lower gross margins for the company[131]. - The new U.S. presidential administration has imposed or threatened tariffs ranging from 10-25% on various countries and products, potentially increasing costs[128]. - Supply chain issues have resulted in significant additional costs and manufacturing inefficiencies, adversely impacting revenue and operating results[120]. - The company has ceased operations in Russia due to adverse economic impacts from the conflict with Ukraine[127]. Regulatory and Compliance Risks - The company is subject to various regulatory requirements, including compliance with the FDA, which governs product-related activities and may result in significant costs if not adhered to[195]. - Compliance with GDPR and other data protection regulations poses risks, including potential fines for non-compliance[132]. - The transition from the European Union IVD Directive to the IVD Regulation (EU) 2017/746 requires recertification of products by May 2025, indicating a stricter regulatory environment[195]. - The company is subject to inquiries from various government agencies, which may divert management resources and impact revenue generation[196]. - The company is subject to export control laws, and failure to comply could delay shipments and adversely affect revenues[192]. Operational Challenges - The company relies on a limited number of suppliers and contract manufacturers, which could lead to delays and increased costs, adversely affecting revenues and profitability[175]. - Supply shortages and price increases of raw materials, particularly copper and niobium titanium, could negatively impact gross profits and production costs for superconducting products[177][178]. - The company faces risks related to dependence on third-party distributors, which could harm revenue and increase expenses if key distributors are lost[172]. - The reliance on liquid helium for superconducting magnets is subject to price fluctuations and shortages, potentially impacting profit margins[179]. - Disruptions at manufacturing facilities could harm customer relationships and impede revenue generation[146]. - The dependence on contract manufacturing may lead to challenges in meeting demand and maintaining product quality, affecting market reputation[173][174]. Strategic Initiatives and Investments - The company has received government grants from Germany and the United States for early-stage research and development projects, retaining non-exclusive rights to developed technologies[90]. - The company maintains a substantial patent portfolio, which is a strategic priority for competitive advantage, and intends to file additional patent applications as appropriate[96]. - The company is committed to talent development, offering various learning opportunities and a global performance management process to enhance employee skills[112][113]. - The company has ongoing collaborations and joint technology development agreements, including with Allegheny Technologies Incorporated for niobium-based superconductors[89]. - The company acquired 28 businesses from January 1, 2022, to December 31, 2024, to expand its technology base and product offerings[199]. Financial Obligations and Tax Risks - As of December 31, 2024, the company had an outstanding aggregate principal amount of debt totaling approximately $2.1 billion, with an additional $872.2 million available under its existing credit facility[152]. - The company’s ability to satisfy its debt obligations depends on future operating performance and economic conditions, with a significant portion of cash generated from foreign operations, amounting to $419.3 million held by foreign subsidiaries[152]. - Changes in the effective income tax rate could adversely affect the company's results, with the Inflation Reduction Act of 2022 introducing a 15% corporate alternative minimum tax and a 1% excise tax on stock repurchases, effective January 1, 2023[154]. - The OECD's Pillar Two model rules for a global minimum tax regime will be effective in stages starting January 1, 2024, which may increase tax complexity and uncertainty for the company[155]. - The company is subject to international tax risks, including potential double taxation and high withholding taxes on distributions from foreign subsidiaries, which could adversely affect earnings and cash flows[158]. Corporate Governance and Shareholder Matters - The ownership of shares is highly concentrated, with the Laukien family owning approximately 32% of outstanding common stock, which could lead to volatility in share price and influence over corporate decisions[168]. - The Board of Directors declared a quarterly dividend of $0.05 per share, payable in March 2025, but future dividends may be reduced or eliminated to fund growth or conserve capital[170]. - The company is highly dependent on key personnel, and the loss of such individuals could significantly delay or prevent the achievement of business objectives[169]. Cybersecurity and Information Security - The company has established a global Information Security Incident Response Team (ISIRT) to manage cybersecurity incidents and mitigate risks[206]. - As of December 31, 2024, no identified risk has required activation of the ISIRT, indicating effective management of cybersecurity threats[207]. - The company has implemented cybersecurity training for employees, which is mandatory at least annually to mitigate risks associated with cybersecurity threats[208]. Real Estate and Facilities - Principal properties include 272,000 sq ft in Wissembourg, France, and 456,000 sq ft in Faellanden, Switzerland, both owned[212]. - Total owned and leased properties across various locations include 1,500,000 sq ft dedicated to research, application, and development[212]. - The company has significant operations in Germany, with properties totaling approximately 1,000,000 sq ft across multiple cities[212]. - The U.S. operations include leased properties totaling 326,100 sq ft, with key locations in California and New Jersey[212]. Legal and Compliance Matters - Legal proceedings as of December 31, 2024, are detailed in Note 26 of the consolidated financial statements[213].

Financial Data and Key Metrics Changes - Bruker reported Q4 2024 revenues of $979.6 million, a 14.6% year-over-year increase, with constant exchange rate (CER) revenue growth of 15.8% [16][35] - For the full year 2024, revenues increased by 13.6% to $3.37 billion, with CER revenue growth of 14% and organic growth of 4% [19][42] - Non-GAAP diluted EPS for Q4 2024 was $0.76, up 8.6% from $0.70 in Q4 2023 [17][38] - Non-GAAP operating margin for Q4 2024 was 18.1%, matching Q4 2023, with a 300 basis point organic operating margin expansion [17][37] Business Line Data and Key Metrics Changes - BioSpin Group revenue for 2024 was $905.7 million, with low teens percentage growth in CER, driven by strong performance in Europe and the Americas [22] - CALID Group revenue reached $1.1 billion, with mid-teens percentage CER growth, primarily in microbiology and infection diagnostics [23] - Bruker NANO's revenue also hit $1.1 billion, growing in the high teens percentage CER, supported by semiconductor metrology [24] - BEST revenues grew in the low single digits percentage, driven by accelerator and FUSION technologies, but faced softness in clinical MRI superconductors [25] Market Data and Key Metrics Changes - Americas revenue grew in the low single-digit percentage, while European revenue increased in the mid-teens range, and Asia Pacific revenue declined in the high single-digit percentage year-over-year [35] - The company experienced strong market trends in diagnostics and semiconductor metrology, with signs of a biopharma recovery [14][35] Company Strategy and Development Direction - Bruker is focused on a multiyear transformation into a growth-oriented industry leader, emphasizing higher margin potential and rapid EPS increases [12][32] - The company aims for constant exchange rate revenue growth of 5% to 7% in 2025, with 3% to 4% organic growth and contributions from M&A [14][44] - Bruker is committed to a 140 basis point operating profit margin improvement in 2025, targeting non-GAAP EPS growth of 11% to 13% [14][45] Management's Comments on Operating Environment and Future Outlook - Management acknowledges uncertainty in the U.S. NIH and academic government market but remains confident in other growth drivers such as biopharma recovery and China stimulus funding [13][56] - The company expects a gradual recovery in the biopharma sector, with improvements anticipated in the first half of 2025 [77] - Management has built reasonable contingencies into their guidance to account for potential NIH funding reductions [110][112] Other Important Information - Bruker completed strategic acquisitions in 2024 to access large addressable markets, enhancing its portfolio with spatial biology, molecular diagnostics, and lab automation [31][32] - The company generated $189.9 million in operating cash flow in Q4 2024, with free cash flow of $151.1 million [39][40] - Bruker plans to return capital to shareholders through its existing share buyback program [40] Q&A Session Summary Question: Confidence in instrumentation sales despite NIH cuts - Management indicated that NIH funding is less than 5% of their exposure and has sufficient growth drivers outside the U.S. to support their guidance [54][56] Question: Academic government budget in Europe and China - Management noted that China is experiencing stimulus funding spread over multiple quarters, while Europe has shown reasonable performance [68][70] Question: Impact of NIH funding deterioration on margins and EPS - Management has modeled potential declines in NIH funding and believes they have built reasonable contingencies into their guidance [110][112] Question: Update on biopharma recovery timing - Management expects a gradual recovery in the biopharma sector, starting in the first half of 2025 [77] Question: Geographic concentration of backlog in BSI - The backlog is consistent with the company's geographic exposure, with a significant backlog level providing a cushion against uncertainties [83][84] Question: Operating margin expansion assumptions - Management targets around 140 basis points of expansion, factoring in organic headwinds and FX impacts [88][89]

Revenue Performance - Bruker's Q4 2024 revenues reached $979.6 million, a 14.6% increase from $854.5 million in Q4 2023, with organic revenue growth of 3.9% and constant-exchange rate (CER) revenue growth of 15.8%[4] - For FY 2024, Bruker reported revenues of $3.37 billion, up 13.6% from $2.96 billion in FY 2023, with organic revenue growth of 4.0% and CER revenue growth of 14.0%[9] - Revenue for Q4 2024 was $979.6 million, a 14.6% increase from $854.5 million in Q4 2023[31] - Total revenue for the year 2024 reached $3,366.4 million, up 13.6% from $2,964.5 million in 2023[31] - The company achieved a total revenue of $3,366.4 million for the twelve months ended December 31, 2024, up from $2,964.5 million in 2023, marking a growth rate of 13.6%[39] Earnings and Profitability - The non-GAAP diluted EPS for Q4 2024 was $0.76, an 8.6% increase compared to $0.70 in Q4 2023, while FY 2024 non-GAAP diluted EPS was $2.41, down 6.6% from $2.58 in FY 2023[8][12] - Non-GAAP gross profit for Q4 2024 was $514.2 million, up from $442.8 million in Q4 2023, representing a growth of 16.2%[34] - Non-GAAP gross profit margin increased to 52.5% in Q4 2024 from 51.8% in Q4 2023[34] - Non-GAAP operating income for the twelve months ended December 31, 2024, was $518.0 million, compared to $546.3 million for the same period in 2023, reflecting a decrease of 5.2%[34] - Non-GAAP net income attributable to Bruker Corporation for Q4 2024 was $115.4 million, compared to $102.4 million in Q4 2023, an increase of 12.8%[37] - Non-GAAP earnings per share (diluted) for the three months ended December 31, 2024, was $0.76, compared to $0.70 in the same period of 2023, reflecting an increase of 8.6%[38] Future Projections - Bruker expects FY 2025 revenues to be between $3.47 billion and $3.54 billion, representing a year-over-year growth of 3% to 5%[13] - The company anticipates FY 2025 non-GAAP EPS to range from $2.67 to $2.72, indicating an increase of 11% to 13% year-over-year[13] - Bruker projects organic revenue growth of 3% to 4% and M&A revenue growth contribution of 2% to 3% for FY 2025, with a foreign currency translation headwind of approximately 2%[15] Operational Metrics - In Q4 2024, Bruker achieved a non-GAAP operating margin of 18.1%, fully offsetting initial margin headwinds from strategic M&A and foreign exchange impacts[6] - The company reported a GAAP operating income of $72.1 million in Q4 2024, down from $103.5 million in Q4 2023, while non-GAAP operating income increased by 14.9% to $177.5 million[7] - Operating income for Q4 2024 was $72.1 million, down from $103.5 million in Q4 2023, reflecting an operating income margin of 7.4%[31] Cash Flow and Assets - Non-GAAP free cash flow for Q4 2024 was $151.1 million, down from $174.0 million in Q4 2023, a decrease of 13.2%[34] - Total assets increased to $5,810.4 million in 2024 from $4,249.9 million in 2023[30] - Long-term debt rose to $2,061.8 million in 2024, up from $1,160.3 million in 2023[30] - Cash and cash equivalents decreased to $183.4 million in 2024 from $488.3 million in 2023[30] Segment Performance - Bruker BioSpin segment revenue increased to $272.4 million for the three months ended December 31, 2024, from $257.9 million in 2023, reflecting a growth of 5.5%[39] - The Bruker CALID segment reported revenue of $320.6 million for the three months ended December 31, 2024, compared to $257.2 million in 2023, representing a significant increase of 24.6%[39] Currency Impact - Revenue growth from acquisitions contributed 11.9% in Q4 2024, while foreign currency translation had an unfavorable impact of 1.2%[4] - The company experienced a negative impact of $9.9 million from changes in foreign currency translation rates for the three months ended December 31, 2024[40]

Core Insights - Bruker Corporation has launched the LUMOS II ILIM, a quantum cascade laser-based infrared imaging microscope, which sets new performance standards for capturing ultrafast IR images with enhanced spatial resolution, expected to significantly boost the CALID segment [1][4]. Company Developments - Following the announcement of the LUMOS II ILIM on January 8, Bruker shares increased by 3.3%, closing at $62.95, with strong demand noted in the CALID segment for differentiated instruments [2]. - The company has a market capitalization of $9.21 billion, with a projected revenue increase of 13.1% for 2024 according to the Zacks Consensus Estimate [3]. - The LUMOS II ILIM features a patented coherence reduction method for infrared imaging, allowing for rapid determination of chemical complexity in biological tissues [4]. - The microscope integrates AI-powered data evaluation, enabling discoveries in life science and pharma research, and supports multimodal imaging for enhanced analytical depth [5]. Industry Prospects - The global infrared imaging market was valued at $7.35 billion in 2023 and is expected to grow at a compound annual growth rate of 6.1% by 2030, with a focus on multispectral imaging and AI integration [6]. - In addition to the LUMOS II ILIM, Bruker launched the Dimension Nexus atomic force microscope in December 2024, enhancing access to advanced AFM technology [7][8]. - Bruker's 1.2 GHz Ascend NMR spectrometer has been accepted at the Swiss High-field NMR Facility, significantly enhancing research capabilities in structural biology [9]. Stock Performance - Over the past 30 days, Bruker shares have gained 10.1%, contrasting with a 1.5% decline in the industry [10].

Group 1 - Bruker Corporation (BRKR) has been added to the Zacks Rank 5 (Strong Sell) List due to a 7.3% downward revision in the consensus estimate for its current year earnings over the last 60 days [1] - Commercial Metals Company (CMC) is also on the Zacks Rank 5 (Strong Sell) List, with a 14.5% downward revision in the consensus estimate for its current year earnings over the last 60 days [1] - Concentrix Corporation (CNXC) has seen a 5.5% downward revision in the consensus estimate for its current year earnings over the last 60 days, leading to its inclusion in the Zacks Rank 5 (Strong Sell) List [2]

Company Overview - Bruker Corporation (BRKR) announced a new technology, EpicIF, to enhance its CellScape Precise Spatial Proteomics platform for highly multiplexed immunofluorescence [1] - The EpicIF technology is expected to expand antibody compatibility and double throughput while preserving tissue integrity and preventing cross-reactivity [1][4] Product Details - The CellScape platform, launched in 2022, analyzes protein expression within cellular contexts, providing high-resolution insights into spatial proteomics [2][3] - CellScape allows researchers to map proteins in tissue samples, revealing cell-specific protein patterns and interactions, which is crucial for cancer research, drug discovery, and personalized medicine [3] - EpicIF enhances photobleaching efficacy by combining a proprietary reagent with visible light, allowing for the erasure of fluorescence signals while preserving epitopes and tissue integrity [5] Market Performance - Following the announcement of EpicIF, BRKR shares fell by approximately 4.6% to $57.73, with a year-to-date decline of 21.5%, compared to a 4% decline in the industry and a 26.1% increase in the S&P 500 [2] - Bruker currently has a market capitalization of $8.8 billion [2] Industry Prospects - The global spatial proteomics market was valued at $77.6 billion in 2023 and is projected to grow at a CAGR of 14.8% from 2024 to 2030 [6] - Growth in the market is driven by technological advancements and increasing demand for in-depth protein analysis, particularly through advanced imaging and mass spectrometry techniques [7]

Financial Performance - Total revenue for Q3 2024 was $864.4 million, a 16.3% increase from $742.8 million in Q3 2023[9] - Product revenue reached $709.3 million, up 15.3% from $615.1 million year-over-year[9] - Net income attributable to Bruker Corporation was $40.9 million in Q3 2024, down 53.7% from $88.1 million in Q3 2023[9] - Gross profit for Q3 2024 was $418.8 million, compared to $382.8 million in Q3 2023, reflecting a gross margin improvement[9] - Operating income decreased to $68.1 million in Q3 2024 from $124.5 million in Q3 2023, indicating a decline in operational efficiency[9] - Consolidated net income for the quarter is $50.9 million, with a comprehensive income of $52.3 million[13] - The company reported a consolidated net income of $40.9 million for the quarter ending September 30, 2024[13] - For the three months ended September 30, 2024, net income attributable to Bruker Corporation was $40.9 million, compared to $30.0 million for the same period in 2023, representing a year-over-year increase of 36.3%[114] Expenses and Costs - Research and development expenses increased to $98.1 million in Q3 2024, up 37.6% from $71.3 million in Q3 2023, highlighting a focus on innovation[9] - Selling, general and administrative expenses accounted for 26.6% of total revenue, compared to 23.9% in the same period last year, driven by planned investments in sales and marketing[173] - Total other charges, net for the three months ended September 30, 2024, amounted to $22.7 million, compared to $9.4 million for the same period in 2023[125] - Restructuring charges for the three months ended September 30, 2024, were $4.3 million, down from $4.8 million in the same period of 2023[126] - The company incurred acquisition-related expenses of $6.8 million for the three months ended September 30, 2024, compared to $1.6 million in the same period of 2023[125] Assets and Liabilities - Total assets as of September 30, 2024, were $6,112.9 million, significantly higher than $4,249.9 million at the end of 2023[6] - Long-term debt rose to $2,264.5 million as of September 30, 2024, compared to $1,160.3 million at the end of 2023, indicating increased leverage[7] - Cash and cash equivalents decreased to $148.1 million from $488.3 million at the end of 2023, reflecting liquidity challenges[6] - The company reported a total shareholders' equity of $1,825.1 million as of September 30, 2024, up from $1,394.6 million at the end of 2023[8] - Total debt as of September 30, 2024, was $2,297.3 million, an increase from $1,281.5 million as of December 31, 2023[83] Revenue Segments - The BSI BioSpin segment generates revenue from academic, government, and industrial customers, focusing on magnetic resonance technology[17] - The BSI CALID segment provides mass spectrometry and molecular diagnostics solutions, serving a diverse customer base including pharmaceutical and biotechnology companies[18] - The BSI NANO segment focuses on advanced microscopy and analytical tools, catering to nanotechnology and semiconductor industries[19] - The BEST segment develops superconducting materials for applications in healthcare and renewable energy[20] - Revenue from BSI BioSpin segment was $233.0 million for the three months ended September 30, 2024, compared to $198.3 million in 2023, reflecting a 17.5% growth[28] - The BSI NANO Segment saw a revenue increase of 48.4% to $287.1 million, attributed to the NanoString acquisition and strong demand in the semiconductor metrology market[171] Acquisitions and Investments - The company completed acquisitions totaling $1,627.0 million in cash consideration during the nine months ended September 30, 2024[38] - The acquisition of NanoString Technologies, Inc. was completed for approximately $392.6 million in cash, enhancing the company's spatial biology capabilities[39] - ELITechGroup was acquired for $951.9 million in cash, with a net consideration of $931.2 million after adjustments[43] - The company acquired 100% of Dynamic Biosensors GmbH for approximately $21.0 million on October 1, 2024[142] - The company integrated ELITech and Nanostring into its BSI CALID and BSI NANO segments, respectively, enhancing its capabilities in molecular diagnostics and life science[151] Cash Flow and Liquidity - Cash provided by operating activities decreased to $61.3 million from $144.6 million, reflecting a decline of 57.5% year-over-year[15] - Net cash used in investing activities significantly increased to $1,696.7 million from $289.2 million, indicating a rise of 485.5%[15] - The company reported a cash balance of $151.7 million at the end of the period, down from $366.9 million at the end of September 2023[15] - The net change in cash, cash equivalents, and restricted cash for the nine months ended September 30, 2024, was a decrease of $339.9 million[201] - The company anticipates that existing cash and credit facilities will be sufficient to support operating and investing needs for at least the next twelve months[198] Tax and Compliance - The effective tax rate for the three months ended September 30, 2024, was 26.8%, up from 25.8% in 2023, primarily due to changes in jurisdictional mix and net unfavorable discrete activities[110] - The income tax provision for the nine months ended September 30, 2024, was $50.7 million, compared to $80.6 million for the same period in 2023, reflecting a decrease in effective tax rate from 33.6% to 26.6%[110] - The Company had gross unrecognized tax benefits of approximately $71.7 million as of September 30, 2024, compared to $58.5 million as of December 31, 2023[112] Stock and Shareholder Information - Cash dividends paid to common shareholders amounted to $7.7 million, at a rate of $0.05 per share[13] - The number of common shares outstanding increased to 145,334,000 by March 31, 2024[13] - As of September 30, 2024, $369.9 million remains available for future purchases under the 2023 Repurchase Program, which authorizes up to $500.0 million in stock repurchases[117] - The Company did not purchase any shares under the 2023 Repurchase Program during the three and nine months ended September 30, 2024[118]

Earnings Performance - Adjusted EPS for Q3 2024 was 60 cents, down 18.9% YoY, missing the Zacks Consensus Estimate by 1.6% [1] - GAAP EPS was 27 cents compared to 60 cents in the year-ago period [1] - Following the earnings announcement, BRKR stock rose 1.7% in aftermarket trading [2] Revenue Analysis - Q3 2024 revenues were $864.4 million, up 16.4% YoY but missed the Zacks Consensus Estimate by 0.1% [3] - Organic revenue growth was 3.1%, excluding 12.5% from acquisitions and 0.7% from foreign currency impacts [3] - US revenues increased 13.2% YoY to $239.0 million, exceeding the model forecast of $233.9 million [3] - Europe revenues rose 15.1% YoY to $290 million, below the model forecast of $322.1 million [4] - Asia Pacific revenues increased 14.4% YoY to $262.4 million, below the model forecast of $267.7 million [4] - Other category revenues surged 44.8% YoY to $73 million, significantly above the model forecast of $26.9 million [4] Segmental Performance - BSI segment revenues grew 18.2% YoY to $799.5 million [5] - BioSpin Group revenues increased 17.5% YoY to $233 million, below the model forecast of $247.3 million [6] - CALID revenues rose 16.8% YoY to $279.4 million, slightly below the model forecast of $280.8 million [7] - NANO revenues climbed 20.3% YoY to $287.1 million, above the model forecast of $260.8 million [7] - BEST segment revenues declined 2.7% YoY to $68.7 million, below the model forecast of $77.3 million [8] Margin Trends - Gross profit increased 9.4% to $418.6 million, but gross margin contracted 308 bps to 48.4% due to a 23.8% rise in costs [9] - SG&A expenses rose 30.2% to $229.9 million, and R&D expenses increased 37.6% YoY to $98.1 million [10] - Adjusted operating expenses grew 32.2% YoY to $328.0 million [10] - Adjusted operating profit declined 32.7% YoY to $90.8 million, with the adjusted operating margin contracting 766 bps to 10.5% [10] Financial Position - Cash and cash equivalents stood at $148.1 million at the end of Q3 2024, down from $169.7 million at the end of Q2 [11] - Total long-term debt increased to $2.26 billion from $1.16 billion at the end of Q2 [11] - Cumulative net cash flow from operating activities was $61.3 million, down from $144.6 million in the comparable period last year [11] 2024 Guidance - Full-year 2024 revenue guidance lowered to $3.34-$3.37 billion from $3.38-$3.44 billion, indicating YoY growth of 12.5%-13.5% [12] - Adjusted EPS guidance for 2024 revised to $2.36-$2.41 from $2.59-$2.64 [13] Strategic Developments - Completed three strategic acquisitions in H1 2024, accelerating portfolio transformation and market expansion into spatial biology, molecular diagnostics, and laboratory automation [15] Industry Comparison - Phibro Animal Health (PAHC) reported Q4 fiscal 2024 adjusted EPS of 41 cents, beating estimates by 20.6%, with revenues of $273.2 million exceeding estimates by 4.1% [16][17] - Quest Diagnostics (DGX) reported Q3 2024 adjusted EPS of $2.30, beating estimates by 1.8%, with revenues of $2.49 billion exceeding estimates by 3.4% [17] - HealthEquity (HQY) reported Q2 fiscal 2025 adjusted EPS of 86 cents, surpassing estimates by 22.9%, with revenues of $299.9 million exceeding estimates by 5.4% [18][19]