Bio-Rad(BIO)2025-02-14 21:30Sales and Market Overview - Life Science and Clinical Diagnostics segments generated 40% and 60% of consolidated net sales, respectively, for the year ended December 31, 2024[10]. - Approximately 41% of consolidated net sales were generated from the U.S., while 59% came from international locations, with Europe being the largest region[10]. - The worldwide sales for products in the Life Science market are estimated at approximately 16 billion[12][14]. Employee and Patent Information - The company employs around 950 employees focused on research and development, continuously developing new products and applications[26]. - Approximately 7,700 employees are employed globally, with 48% in the Americas, 35% in Europe, the Middle-East and Africa, and 17% in Asia Pacific[37]. - The company has over 2,150 U.S. and international patents, viewing them as valuable assets for product development[16]. Revenue Sources and Distribution - The installed base of diagnostic test systems creates a recurring revenue source through the sale of test kits for each sample analyzed[14]. - The company has direct distribution channels in over 36 countries outside the U.S., supplemented by distributors and agents[9]. Regulatory and Reimbursement Factors - The company is subject to various regulatory requirements, including FDA regulations for product development and marketing[27][30]. - The company’s sales are influenced by third-party payor reimbursements, which are increasingly adjusted for medical products and services[33]. Financial Performance and Investments - As of December 31, 2024, the fair value of the investment in Sartorius was 1.20 billion in principal amount of fixed-rate long-term debt outstanding as of December 31, 2024[181]. Foreign Exchange and Interest Rate Risks - A hypothetical 10% depreciation/appreciation of foreign currencies relative to the U.S. dollar would result in an unrealized gain/loss of 0.45 billion reported in the financial statements[182]. - Bio-Rad's financial risk management program aims to reduce variance in expected cash flows arising from foreign exchange rate and interest rate changes[175]. - A hypothetical increase or decrease in interest rates by 50 and 100 basis points would have resulted in a decrease or increase in the fair value of Bio-Rad's net investment position of approximately 21.7 million, respectively[180]. Asset Information - Sartorius had current assets of €1,956.9 million and non-current assets of €7,798.5 million as of December 31, 2023[45]. - Bio-Rad does not assume any responsibility for errors or omissions in the financial information publicly disclosed by Sartorius[45].