Q4 2025 Bio Rad Laboratories Inc Earnings Call Transcript
Key Points
- Bio-Rad Laboratories Inc (BIO) delivered results within their revised guidance for both revenue and operating margin in 2025.
- The Diagnostics segment returned to growth, driven by successful fulfillment of large customer orders and changes in diabetes testing reimbursement in China.
- The QX700 Droplet Digital PCR family of products saw strong customer response and meaningful acceleration in sales.
- The process chromatography business delivered over 20% growth in 2025.
- Bio-Rad Laboratories Inc (BIO) plans to advance several product launches in 2026, including an IVD version of the QX600 and additional high-value ddPCR assays.
- Gross margin did not meet expectations due to higher-than-anticipated supply chain costs.
- The Life Science segment experienced a 2.6% decrease in sales on a reported basis in Q4 2025.
- Cautious spending in academia and government continues to weigh on instrument demand.
- The process chromatography business experienced quarter-over-quarter and year-over-year declines due to the timing of customer orders.
- Full year non-GAAP operating margin declined to 12.1% from 12.9% in 2024, reflecting gross margin headwinds.
Good day, everyone, and welcome to the Bio Rad fourth quarter and full-year 2025 results conference call.
At this time, I would like to hand things over to Mr. Edward Chung. Please go ahead, sir.
Good afternoon, everyone. Thank you for joining us. Today, we will review the fourth quarter and full-year 2025 financial results and provide an update on key business trends for Bio Rad. With me on the call today are Norman Schwartz, our Chief Executive Officer; Jon DiVincenzo, President and Chief Operating Officer; and Roop Lakkaraju, Executive Vice President and Chief Financial Officer.
Before we begin our review, I would like to remind everyone that we will be making forward-looking statements about management's goals, plans and expectations, our future financial performance, and other matters. These statements are based on assumptions and expectations of future events that are subject to risks and uncertainties. Our actual results may differ materially from these plans,
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