Bruker(US:BRKR)2025-11-03 12:00Financial Performance - Q3 2025 revenues were $860.5 million, down 0.5% year-over-year, with organic revenue decreasing by 4.5%[4] - Q3 2025 GAAP diluted loss per share was $(0.41), compared to diluted earnings per share of $0.27 in Q3 2024[8] - Updated FY2025 revenue guidance is $3.41 to $3.44 billion, reflecting 1-2% year-over-year growth, with an organic decline of 4-5%[6] - Non-GAAP EPS for FY2025 is projected to be between $1.85 and $1.90, down from $2.41 in FY2024[13] - Q3 2025 GAAP operating loss was $51.8 million, compared to GAAP operating income of $68.1 million in Q3 2024[7] - Non-GAAP operating income for Q3 2025 was $105.9 million, down from $129.1 million in Q3 2024, with a non-GAAP operating margin of 12.3%[7] - For the first nine months of 2025, revenues were $2.46 billion, an increase of 3.0% from $2.39 billion in the same period of 2024[9] - BSI revenues for the first nine months of 2025 were $2.27 billion, up 3.6%, while BEST revenues decreased by 5.5% to $199.4 million[10] - Revenue for Q3 2025 was $860.5 million, a slight decrease of 0.5% compared to $864.4 million in Q3 2024[31] - Consolidated net loss for Q3 2025 was $(58.5) million, compared to a net income of $40.3 million in Q3 2024[31] Cost and Savings Initiatives - The company is progressing towards $100 to $120 million in cost savings initiatives, expected to enhance operating margins and EPS growth in 2026[3] - The company anticipates a foreign currency translation revenue tailwind of approximately 2.5% for FY2025[15] Assets and Cash Flow - Total current assets increased to $2,350.6 million as of September 30, 2025, up from $2,053.2 million at the end of 2024[30] - Total assets reached $6,434.9 million as of September 30, 2025, compared to $5,806.7 million at the end of 2024[30] - Cash and cash equivalents increased to $293.1 million as of September 30, 2025, compared to $183.4 million at the end of 2024[30] - Net cash used in operating activities for the nine months ended September 30, 2025, was $(95.7) million, compared to $61.3 million in the same period of 2024[32] - Net cash used in operating activities for Q3 2025 was $(33.2) million, a significant decline from $38.4 million in Q3 2024[38] - Non-GAAP free cash flow for the nine months ended September 30, 2025, was $(163.9) million, compared to $(17.3) million in the same period of 2024[38] Profitability Metrics - Gross profit for Q3 2025 was $379.4 million, down 9.4% from $418.8 million in Q3 2024, resulting in a gross profit margin of 44.1%[31] - For the three months ended September 30, 2025, Bruker Corporation reported a GAAP gross profit of $379.4 million, representing a gross margin of 44.1%[34] - Non-GAAP gross profit for the same period was $430.9 million, with a gross margin of 50.1%[34] - For the nine months ended September 30, 2025, GAAP gross profit was $1,128.2 million, with a gross margin of 45.9%[35] - Non-GAAP gross profit for the nine-month period was $1,229.0 million, achieving a gross margin of 50.0%[35] Impairments and Adjustments - The company reported a goodwill impairment charge of $96.5 million in Q3 2025[31] - Goodwill and intangible assets impairment charges for the three months ended September 30, 2025, were $12.6 million, representing 1.5% of total revenue[34] - Total non-GAAP adjustments amounted to $51.5 million, leading to a non-GAAP net income of $94.8 million, or $0.45 per diluted share, reflecting a 24.4% tax rate[34] - The company reported total non-GAAP adjustments of $100.5 million for the nine months, resulting in a non-GAAP net income of $252.8 million, or $1.48 per diluted share[35] Segment Performance - Revenue from Bruker Scientific Instruments in Q3 2025 was $787.9 million, down from $799.5 million in Q3 2024, indicating a decrease of 1.5%[41] - Revenue from the Bruker CALID segment in Q3 2025 was $312.7 million, an increase from $279.4 million in Q3 2024, representing a growth of 11.5%[39] - Revenue from the Bruker BioSpin segment in Q3 2025 was $208.7 million, down from $233.0 million in Q3 2024, reflecting a decrease of 10.4%[39] - The revenue from the BEST segment, net of intercompany eliminations, was $72.6 million in Q3 2025, compared to $64.9 million in Q3 2024, indicating an increase of 11.9%[41] - The total revenue for the nine months ended September 30, 2025, was $2,459.3 million, compared to $2,386.8 million in the same period of 2024, marking a growth of 3.0%[41]