Bruker(US:BRKR)2025-11-05 21:30Revenue and Profitability - Total revenue for Q3 2025 was $860.5 million, a slight decrease of 0.5% compared to $864.4 million in Q3 2024[11] - Product revenue decreased to $691.1 million in Q3 2025 from $709.3 million in Q3 2024, representing a decline of 2.6%[11] - Service and other revenue increased to $169.4 million in Q3 2025, up 9.0% from $155.1 million in Q3 2024[11] - Gross profit for Q3 2025 was $379.4 million, down 9.3% from $418.8 million in Q3 2024[11] - Operating loss for Q3 2025 was $(51.8) million, compared to an operating income of $68.1 million in Q3 2024[11] - Consolidated net loss for Q3 2025 was $(58.5) million, compared to a net income of $40.3 million in Q3 2024[13] Assets and Liabilities - Total assets increased to $6,434.9 million as of September 30, 2025, up from $5,806.7 million as of December 31, 2024[10] - Cash and cash equivalents rose to $293.1 million as of September 30, 2025, compared to $183.4 million as of December 31, 2024[10] - Long-term debt decreased to $1,984.2 million as of September 30, 2025, down from $2,061.8 million as of December 31, 2024[10] - Total shareholders' equity attributable to Bruker Corporation increased to $2,431.9 million as of September 30, 2025, compared to $1,781.2 million as of December 31, 2024[10] Cash Flow and Financing - Cash flows from operating activities showed a net cash used of $95.7 million in 2025, contrasting with a net cash provided of $61.3 million in 2024[19] - The company reported cash paid for acquisitions of $69.7 million in 2025, significantly lower than $1,576.7 million in 2024[19] - Total cash, cash equivalents, and restricted cash at the end of the period was $297.3 million in 2025, up from $151.7 million in 2024[19] - The company generated $669.5 million from the issuance of Series A Mandatory Convertible Preferred Stock in 2025[19] - Cash paid for interest increased to $50.2 million in 2025 from $31.6 million in 2024[19] Acquisitions and Goodwill - The company completed various acquisitions during the nine months ended September 30, 2025, which complement existing product offerings[28] - The Recipe acquisition, completed on April 14, 2025, involved acquiring 69.64% of the company, enhancing the Company's capabilities in clinical diagnostic assays[31] - The company reported a significant impairment of goodwill and intangible assets amounting to $147.5 million in 2025, compared to $27.5 million in 2024[19] - The total consideration transferred for 2024 acquisitions was $1,635.8 million, with cash paid of $1,648.8 million[37] - The Company allocated $958.0 million to goodwill from the 2024 acquisitions, reflecting expected synergies and future economic benefits[32] Expenses and Restructuring - Total restructuring charges for the three months ended September 30, 2025, amounted to $34.5 million, significantly higher than $4.3 million for the same period in 2024[84] - The company expects to incur additional restructuring charges of $4.1 million through the remainder of 2025 related to its corporate-wide restructuring plan[85] - The company reported interest and other expenses of $(20.0) million for the three months ended September 30, 2025, compared to $(12.8) million in 2024, indicating an increase in expenses[71] Research and Development - Research and development expenses for the nine months ended September 30, 2025, totaled $292.3 million, compared to $270.3 million in 2024, marking an increase of 8.1%[72] - The company reported a total consolidated operating income of $(51.8) million for the three months ended September 30, 2025, compared to $68.1 million in 2024, reflecting a significant decline[71] Shareholder Activities - The company repurchased 200,731 shares, resulting in cash dividends paid to common shareholders totaling $10.1 million[15] - A quarterly cash dividend of $0.05 per share was declared on August 12, 2025, resulting in a payment of approximately $7.6 million on October 3, 2025[129] - The Company completed a public offering of 6,000,000 shares of common stock at a price of $67.29 per share, generating net proceeds of approximately $403.0 million[128] Tax and Legal Matters - The effective tax rate for the nine months ended September 30, 2025, was 18.4%, down from 33.6% in 2024, indicating a significant decrease of 15.2 percentage points[90] - The Company agreed to pay $68.0 million to 10x Genomics in a settlement related to patent litigation, with payments to be made in four equal quarterly installments starting in Q3 2025[120] Market and Segment Performance - The company operates through four reportable segments: BSI BioSpin, BSI CALID, BSI NANO, and Bruker Energy & Supercon Technologies[21] - BSI CALID segment focuses on life science mass spectrometry and molecular diagnostics, generating revenue from various sectors including pharmaceuticals and diagnostics[21] - Revenue from external customers for the nine months ended September 30, 2025, increased to $2,459.3 million, compared to $2,386.8 million in 2024, reflecting a growth of 3.0%[72]