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 ...

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, 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 jur ...

Bio-Techne Corporation (NASDAQ:TECH) Q3 2022 Earnings Conference Call May 4, 2022 9:00 AM ET Company Participants David Clair - Senior Director, IR and Corporate Development Chuck Kummeth - CEO Jim Hippel - CFO Conference Call Participants Dan Arias - Stifel Puneet Souda - SVB Securities Jacob Johnson - Stephens Alex Nowak - Craig-Hallum Catherine Schulte - Baird Patrick Donnelly - Citi Paul Knight - KeyBanc Disclaimer*: This transcript is designed to be used alongside the freely available audio recording o ...

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, 2021, 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 ju ...

Financial Data and Key Metrics Changes - The trailing 12-month revenue exceeded $1 billion for the first time in the company's history, reflecting a 17% growth rate in Q2 [5][6] - Adjusted EPS was a record $1.88, up 16% from $1.62 a year ago, while GAAP EPS increased to $1.94 from $1.15 [44][45] - Q2 revenue reached $269.3 million, marking a 20% year-over-year increase on a reported basis and 17% on an organic basis [45][46] - Adjusted gross margin improved to 72.3% from 71.5% in the prior year, driven by volume leverage and favorable segment mix [47] - Adjusted operating margin for Q2 was 38.3%, a decrease of 50 basis points year-over-year but an increase of 50 basis points from Q1 [49] Business Line Data and Key Metrics Changes - Protein Sciences segment reported sales of $205 million, with organic growth of 19%, driven by a nearly 80% increase in cell and gene therapy and over 180% growth in GMP protein products [53][54] - Diagnostics and Genomics segment saw reported sales of $64.5 million, with organic growth of 7% and acquisitions contributing 16% [55][57] - The Diagnostics Reagents business achieved upper single-digit growth, marking its tenth consecutive quarter of growth [39] Market Data and Key Metrics Changes - China led all territories with organic growth above 20%, followed closely by the US, which also grew over 20%, while Europe experienced mid-teens growth [14][46] - The biopharma market grew 30%, while academic growth was significantly lower, impacted by Omicron-related shutdowns [46][15] Company Strategy and Development Direction - The company aims to achieve a $2 billion revenue target by 2026, with a strong focus on cell and gene therapy initiatives [42][102] - The acquisition of Wilson Wolf is expected to enhance the company's position in the cell and gene therapy market, providing synergies with existing products [19][20] - The company continues to explore external opportunities to expand its cell and gene therapy offerings alongside organic growth efforts [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of demand for cell and gene therapy products, citing robust growth and customer interest [100][102] - The company anticipates a gradual recovery in academic growth as funding clarity improves and the impact of Omicron diminishes [15][116] - Management remains optimistic about the long-term growth potential in China, expecting continued strong performance despite geopolitical challenges [105][106] Other Important Information - The company filled several key positions within its technical and commercial organizations to support future growth [10][12] - The adjusted effective tax rate for Q2 was 21.4%, and the company ended the quarter with a strong balance sheet, including $279 million in cash [51][52] Q&A Session Summary Question: Clarification on expected mid-teens growth despite tougher comps - Management expects to maintain the same relative operating margin by the end of the year, with hiring continuing at the current pace [62] Question: Balancing capital deployment between M&A and buybacks - The company has prioritized M&A but is currently executing buybacks due to undervaluation and high acquisition valuations [64][67] Question: Competitive position in GMP proteins market - Management believes the company is years ahead of competitors and is well-positioned to meet future demand for GMP proteins [70][72] Question: Trends in ACD business and sales force impact - Management noted that the ACD business is recovering, with expectations for continued improvement despite some sales force attrition [86] Question: Sustainability of demand in biopharma funding - Management remains confident in the sustainability of demand, citing strong growth in cell and gene therapy applications [99][102] Question: Strength of the Chinese market - Management expects continued strong growth in China, projecting it to remain a significant market for the company [105][106]

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 September 30, 2021, 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) Q1 2022 Earnings Conference Call November 2, 2021 9:00 AM ET Company Participants David Clair - Senior Director, Investor Relations and Corporate Development Chuck Kummeth - Chief Executive Officer Jim Hippel - Chief Financial Officer Conference Call Participants Puneet Souda - SVB Leerink Dan Arias - Stifel Jacob Johnson - Stephens Alex Nowak - Craig-Hallum Catherine Schulte - Baird Patrick Donnelly - Citi Paul Knight - KeyBanc Capital Markets Operator Good morning and ...

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, 2021, 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 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the ...

Bio-Techne Corporation (NASDAQ:TECH) Q4 2021 Earnings Conference Call August 5, 2021 9:00 AM ET Company Participants David Clair - Investor Relations Chuck Kummeth - Chief Executive Officer Jim Hippel - Chief Financial Officer Conference Call Participants Dan Arias - Stifel Jacob Johnson - Stephens Catherine Schulte - Baird Alex Nowak - Craig-Hallum Patrick Donnelly - Citi Operator Good morning and welcome to the Bio-Techne Earnings Conference Call for the Fourth Quarter of Fiscal Year 2021. [Operator Instr ...

Financial Performance - Bio-Techne reported a Q3 revenue of $243.6 million, representing a 25% year-over-year increase and a 22% organic growth [32][34] - Adjusted EPS was $1.79, a 29% increase from $1.39 in the previous year, marking a new company record [32][34] - The adjusted operating margin for the quarter was 40.1%, an increase of 360 basis points year-over-year [34][36] Business Segment Performance - The Protein Sciences segment reported sales of $185.6 million, with organic growth of 24% [39] - The Diagnostics and Genomics segment had reported sales of $58.1 million, with organic growth of 17% [40] - Simple Plex saw a 90% increase in revenue globally, driven by its application in biomarker discovery and quality control processes [17][19] Market Performance - China experienced nearly 50% growth, while EMEA grew over 30% and the Americas saw growth north of 20% [32] - The biopharma market continued to show strength with year-over-year growth well over 25% [33] - The academic sector improved significantly, growing approximately 20% for the quarter compared to last year [33] Company Strategy and Industry Competition - The acquisition of Asuragen is expected to enhance Bio-Techne's portfolio in genetic carrier screening and oncology research products [10] - The company is focusing on expanding its GMP protein capabilities and has a strong pipeline for cell and gene therapy solutions [14][16] - Bio-Techne aims to leverage its broad product offerings to create synergistic solutions for biopharma companies [16] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in sustaining high operating margins due to strong positioning in high-growth markets [9][36] - The company anticipates continued momentum in Q4, with expectations for revenue to be similar to Q3 [43] - Management noted that the COVID-19 pandemic has elevated the profile of their tools and solutions, positioning the company for stronger growth post-pandemic [28] Other Important Information - The company generated $74.9 million in cash from operations, a more than 50% increase over the prior year [37] - Bio-Techne's balance sheet remains strong with $276.2 million in cash and short-term investments and essentially zero net debt [38] - The company is expanding its manufacturing capacity to meet the high demand for its Simple Plex solution [19] Q&A Session Summary Question: Can you discuss the early days of servicing customers with expanded GMP capabilities? - Management indicated that the catalog is not a limitation, and they are making progress with several customers, expecting to meet their needs effectively [48] Question: How sustainable is the strong operating margin? - Management expressed confidence in sustaining the operating margin, noting that they are ahead of their previous guidance and expect continued strong performance [56][59] Question: What is the size of the end market for cell and gene therapy? - Management estimated the current run rate across the portfolio at about $50 million, with potential to grow to over $500 million in the next five years [74]