Bio-Techne Corporation (NASDAQ:TECH) Q1 2024 Earnings Conference Call October 31, 2023 9:00 AM ET Company Participants David Clair - Vice President-Investor Relations Charles Kummeth - Chief Executive Officer James Hippel - Chief Financial Officer Kim Kelderman - Chief Operating Officer. Conference Call Participants Puneet Souda - SVB Securities Patrick Donnelly - Citi Catherine Schulte - Baird Matthew Larew - William Blair Alex Nowak - Craig-Hallum Paul Knight - KeyBanc Justin Bowers - Deutsche Bank Operat ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023, or Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K Securities registered pursuant to Section 12(b) of the Act: ☐ 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 0-17272 BIO-TECHNE CORPORATION (Exact name of registrant as specified in it ...

Bio-Techne Corporation (NASDAQ:TECH) Q4 2023 Earnings Conference Call August 8, 2023 9:00 AM ET Company Participants David Clair – Vice President-Investor Relations Chuck Kummeth – Chief Executive Officer Jim Hippel – Chief Financial Officer Will Geist – President-Protein Sciences Segment Conference Call Participants Puneet Souda – Leerink Partners Patrick Donnelly – Citi Jacob Johnson – Stephens Dan Arias – Stifel Dan Leonard – Credit Suisse Catherine Schulte – Baird Operator Good morning, and welcome to t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 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 number 0-17272 BIO-TECHNE CORPORATION (Exact name of registrant as specified in its charter) Minnesota 41-1427402 (State or other jur ...

Financial Data and Key Metrics Changes - Adjusted EPS for Q3 was $0.53, consistent with the prior year quarter, while GAAP EPS increased to $0.43 from $0.37 in the prior year [13][14] - Q3 revenue was $294.1 million, representing a 3% year-over-year increase on an organic basis and a 1% increase on a reported basis [14][15] - Total company adjusted gross margin was 72.6%, down from 73.2% in the prior year, primarily due to unfavorable foreign exchange and product mix [20] - Adjusted operating margin for Q3 was 37%, a decrease of 260 basis points from the prior year, but a 150 basis point improvement sequentially [22] Business Line Data and Key Metrics Changes - The Protein Sciences segment reported sales of $218.9 million, with organic growth of 5% despite a strong prior year comp [63] - The Diagnostics and Genomics segment reported sales of $75.7 million, with organic revenue declining by 2%, but upper single digits growth when adjusted for the ExoTRU milestone payment from the prior year [52][49] - The spatial biology business returned to double-digit growth, driven by strong performances in RNAscope, BaseScope, and microRNA product lines [53] Market Data and Key Metrics Changes - North America grew mid-single digits, Europe saw upper single-digit growth, while China experienced low-single-digit growth [19][31] - Biopharma grew high single digits, while academia grew mid-single digits, both partially offset by OEM destocking [19] Company Strategy and Development Direction - The company is focused on strategic growth investments and expanding its portfolio in cell and gene therapy, liquid biopsy platforms, and spatial biology capabilities [11][18] - A significant investment in Wilson Wolf aims to enhance the company's position in cell therapy manufacturing [36][39] - The company anticipates that as top-line headwinds subside, it will continue to make strategic investments in key growth platforms to ensure long-term momentum [22] Management's Comments on Operating Environment and Future Outlook - Management noted that the accumulation of specific headwinds in Q3 was approximately 7.5%, which when added back, results in an adjusted organic growth rate of over 10% [17] - The company expects to see continued improvement in Q4, particularly in China, as COVID-related impacts diminish [28][32] - Management expressed confidence in returning to double-digit growth in fiscal year 2024 as headwinds diminish [102] Other Important Information - The company has implemented strategic price increases to offset inflation impacts on operating income [21] - The balance sheet remains strong with $157.2 million in cash and short-term investments, and a total leverage ratio below one turn [25] Q&A Session Summary Question: What does the company expect for growth in the fourth quarter? - Management indicated that growth in Q4 is expected to be in line with the first quarter, with potential for mid-teens growth in subsequent quarters as headwinds subside [68][83] Question: How does the investment in Wilson Wolf change the relationship? - The investment allows for deeper collaboration and operational integration, enhancing growth opportunities [72] Question: What is the outlook for the ACD growth and partnerships? - Management highlighted that the partnerships with Akoya and Lunaphore are expected to drive incremental revenue, with spatial biology being a hot area of innovation [76][97] Question: What is the visibility into the OEM destocking dynamic? - Management noted that the OEM destocking impact is about 1.5%, with expectations for recovery as customers return to normal ordering patterns [101] Question: Will the company return to double-digit growth in fiscal 2024? - Management confirmed that underlying double-digit growth is already seen in key growth programs, suggesting a return to overall double-digit growth in fiscal 2024 [102]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 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 0-17272 BIO-TECHNE CORPORATION (Exact name of registrant as specified in its charter) Minnesota 41-1427402 (State or other ...

Bio-Techne Corporation (NASDAQ:TECH) Q2 2023 Earnings Conference Call February 2, 2023 9:00 AM ET Company Participants David Clair - Vice President of Investor Relations Chuck Kummeth - Chief Executive Officer Jim Hippel - Chief Financial Officer Conference Call Participants Puneet Souda - SVB Securities Jacob Johnson - Stephens Dan Arias - Stifel Dan Leonard - Credit Suisse Catherine Schulte - Baird Patrick Donnelly - Citi Justin Bowers - Deutsche Bank Operator Good morning, and welcome to the Bio-Techne E ...

Bio-Techne Corporation (NASDAQ:TECH) Q1 2023 Earnings Conference Call November 1, 2022 9:00 AM ET Company Participants Chuck Kummeth - President, Chief Executive Officer Jim Hippel - Executive Vice President, Chief Financial Officer David Clair - Vice President, Investor Relations Conference Call Participants Puneet Souda - SVB Securities Dan Arias - Stifel Dan Leonard - Credit Suisse Anna - Stephens Alex Nowak - Craig Hallum Catherine Schulte - Baird Patrick Donnelly - Citi Operator Good morning and wel ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year 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 0-17272 BIO-TECHNE CORPORATION (Exact name of registrant as specified in its charter) Minnesota 41-1427402 (State or other jurisdiction ...

Bio-Techne Corporation (NASDAQ:TECH) Q4 2022 Earnings Conference Call August 4, 2022 9:00 AM ET Corporate Participants David Clair - Vice President, Investor Relations and Corporate Development Chuck Kummeth - Chief Executive Officer Jim Hippel - Chief Financial Officer Conference Call Participants Puneet Souda - SVB Securities Jacob Johnson - Stephens Dan Arias - Stifel Catherine Schulte - Baird Alex Nowak - Craig-Hallum Patrick Donnelly - Citi Paul Knight - KeyBanc Operator Good morning, and welcome to th ...