Bio-Techne Corporation
bio-techne.comWhat Do They Do?
Sells biological reagents and protein-analysis instruments to researchers and pharmaceutical and biotechnology companies, and diagnostic products and services to clinical laboratories.
10-K for FY2026, filed Aug 24, 2026Bio-Techne and its subsidiaries, collectively doing business as Bio-Techne Corporation (“Bio-Techne”, “we”, “our”, “us” or the “Company”)…View ↗
We manage the business in two operating segments – our Protein Sciences segment and our Diagnostics and Spatial Biology segment. Our…View ↗
The Reagent Solutions division consists of specialized proteins, such as cytokines and growth factors, antibodies, small molecules, tissue…View ↗
The Analytical Solutions division includes manual and automated protein analysis instruments and immunoassays that are used in quantifying…View ↗
The Bio-Techne Diagnostic division consists of regulated products traditionally used as calibrators and controls in the clinical setting.…View ↗
The Asuragen-branded products are sold primarily to laboratories for use in lab-developed tests or in kit form as regulated diagnostic…View ↗
How Do They Make Money?
Customers buy reagents and instruments as one-time product sales, generally shipped after ordering; end users have net 30-day payment terms, while distributor terms range from 30 to 90 days. Service arrangements may be paid in advance or at completion, and royalties follow third-party sales.
10-K for FY2026, filed Aug 24, 2026Consumables revenues consist of specialized proteins, immunoassays, antibodies, reagents, blood chemistry and blood gas quality controls…View ↗
We recognize royalty revenues in the period the sales occur using third party evidence. The Company elected the "right to invoice"…View ↗
Payment terms for shipments to end-users are generally net 30 days. Payment terms for distributor shipments may range from 30 to 90 days.…View ↗
The majority of our products are shipped within one day of receipt of the customers’ orders, other than our instruments and related…View ↗
The Reagent Solutions division consists of specialized proteins, such as cytokines and growth factors, antibodies, small molecules, tissue…View ↗
The Bio-Techne Diagnostic division consists of regulated products traditionally used as calibrators and controls in the clinical setting.…View ↗
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10-K for FY2026, filed Aug 24, 2026
FY2026 revenue by reportable segment ↗
$1.2B
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10-K for FY2026, filed Aug 24, 2026
$1.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Protein Sciences
Sold outright
10-K for FY2026, filed Aug 24, 2026 |
72%
FY2023: 74%
|
Protein Sciences, FY2026
$874.6M Sources
|
Sold outright |
|
Diagnostics and Spatial Biology
Sold outright
10-K for FY2026, filed Aug 24, 2026 |
28%
FY2023: 26%
|
Diagnostics and Spatial Biology, FY2026
$336.4M Sources
|
Sold outright |
Who Are Their Customers?
Academic and industry researchers, pharmaceutical and biotechnology companies, and diagnostic laboratories or instrument makers buy its products. Sales are direct, through distributors including Thermo Fisher Scientific, and through original equipment manufacturer agreements.
10-K for FY2026, filed Aug 24, 2026Our customers for this segment include researchers in academia and industry (chiefly pharmaceutical and biotech companies as well as…View ↗
The Bio-Techne Diagnostic division consists of regulated products traditionally used as calibrators and controls in the clinical setting.…View ↗
The customers for the Spatial Biology division include researchers in academia as well as investigators in pharmaceutical and biotech…View ↗
The Asuragen-branded products are sold primarily to laboratories for use in lab-developed tests or in kit form as regulated diagnostic…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 15 cents of every revenue dollar as net income in FY2026 and turned 22 cents into free cash flow.
10-K for FY2026, filed Aug 24, 2026
$251.9MView ↗
10-K for FY2026, filed Aug 24, 2026
$181.9MView ↗
10-K for FY2026, filed Aug 24, 2026
$263.2MView ↗
How Are They Changing?
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Sep 23, 2026
Shareholders approved the proposed merger with Merck KGaA
The antitrust waiting period expired, but remaining regulatory approvals are still required before closing.
Sources
8-K, filed Sep 23, 2026
The final voting results for the Merger Agreement Proposal and Non-Binding Compensation Advisory Proposal are described below. The…View ↗
Growing. Revenue grew 10% in 4 years, from $1.1B in FY2022 to $1.2B in FY2026, about 2% a year.
Automated spatial biology
The latest report adds an automated spatial biology platform and an instrument that works with the company’s in-situ hybridization assays; the older report describes the assays without that platform.
10-K for FY2023, filed Aug 23, 2023 10-K for FY2026, filed Aug 24, 2026The Spatial Biology division products sold under the Advanced Cell Diagnostics, or ACD, brand, are novel in-situ hybridization (ISH) assays…View ↗
The Spatial Biology division products sold under the Advanced Cell Diagnostics, or ACD, brand, are novel in-situ hybridization (ISH) assays…View ↗
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