Jun 2026 (Q2 FY26) — Aug 4, 2026
Bio-Rad Q2 FY26 — Digital PCR Drives Growth Amidst Soft End Markets
Read the full callBio-Rad (BIO) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Bio-Rad earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 651 | −0.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.2 | −0.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 371 | +16.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
14 of 24 judged targets kept · 26 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Currency-neutral revenue growth | 0.5% to 1.5% | Dec 2025 | We continue to expect full year currency-neutral revenue growth to be between minus 3% and plus 0.5%. | Revised Down |
| ddPCR business revenue growth | mid-single digit | Dec 2025 | we still see near-term mid-single-digit kind of growth rate from a ddPCR standpoint. | On Track |
10 of BIO-RAD LABORATORIES, INC.'s 50 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 48 more targets are in the full ledger.
Claimed
- Clinical Diagnostics returned to modest currency-neutral growth, led by quality controls and blood typing portfolio.
- Digital PCR revenue grew 6% year-over-year, with instrument revenue up over 20%, indicating strong customer demand.
- Stilla Technologies acquisition accelerated revenue growth and delivered margin performance ahead of original expectations.
- Restructuring program expected to yield $30M-$35M in net annual cost savings by end of 2027, with 40-50 bps operating margin expansion in 2027.
Qualified
- Total company revenue was essentially flat as reported and down 1.9% currency-neutral year-over-year.
- Life Science segment revenue decreased 5.1% currency-neutral, primarily due to softness in the academic research market and tough process chromatography comps.
- China revenue declined in the high teens, representing an estimated $4M headwind for the remainder of the year.
- Non-GAAP operating margin declined to 12.5% from 13.6% in Q2 2025, though it improved sequentially from Q1 2026.
Price
$364.82 +0.66% · +$2.39
Performance +19.6% 1Y
1Y: $305.05 on 14 Oct 2025 → $364.82. High $390.34 (25 Aug 2026), low $241.71 (12 May 2026).
- Previous close
- $362.43
- 52-week range
- $241.71 – $390.34
- One year
- +19.28%
Overview
- Symbol
- BIO
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
14 of 24 judged targets kept · 26 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Currency-neutral revenue growth | 0.5% to 1.5% | Dec 2025 | We continue to expect full year currency-neutral revenue growth to be between minus 3% and plus 0.5%. | Revised Down |
| ddPCR business revenue growth | mid-single digit | Dec 2025 | we still see near-term mid-single-digit kind of growth rate from a ddPCR standpoint. | On Track |
Claimed
- Clinical Diagnostics returned to modest currency-neutral growth, led by quality controls and blood typing portfolio.
- Digital PCR revenue grew 6% year-over-year, with instrument revenue up over 20%, indicating strong customer demand.
- Stilla Technologies acquisition accelerated revenue growth and delivered margin performance ahead of original expectations.
- Restructuring program expected to yield $30M-$35M in net annual cost savings by end of 2027, with 40-50 bps operating margin expansion in 2027.
Qualified
- Total company revenue was essentially flat as reported and down 1.9% currency-neutral year-over-year.
- Life Science segment revenue decreased 5.1% currency-neutral, primarily due to softness in the academic research market and tough process chromatography comps.
- China revenue declined in the high teens, representing an estimated $4M headwind for the remainder of the year.
- Non-GAAP operating margin declined to 12.5% from 13.6% in Q2 2025, though it improved sequentially from Q1 2026.
The full ledger
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Call summaries
Every analysed call
Bio-Rad earnings calls (BIO)
Financials
What the filings say
Net profit, year on year: +17% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 650 | 668 | 585 | 652 | 653 | 693 | 592 | 651 |
| Operating profit | 65 | 58 | 24 | 77 | 65 | -119 | 34 | 73 |
| Operating margin | 9.9% | 8.7% | 4.0% | 11.8% | 10.0% | −17.1% | 5.8% | 11.2% |
| Interest | 12 | 12 | 12 | 13 | 12 | 12 | 12 | 12 |
| Profit before tax | 862 | -909 | 83 | 414 | -431 | 929 | -690 | 542 |
| Tax rate | 24.2% | 21.3% | 23.3% | 23.2% | 20.7% | 22.5% | 23.6% | 31.5% |
| Net profit | 653 | -716 | 64 | 318 | -342 | 720 | -527 | 371 |
| EPS ($ per share) | 23.37 | -25.57 | 2.29 | 11.67 | -12.70 | — | -19.55 | 13.89 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 3,722 | 5,471 | 9,268 | 13,525 | 9,898 | 9,261 | 7,416 | 8,176 |
| Total liabilities | 1,591 | 2,254 | 3,093 | 4,114 | 3,886 | 3,558 | 2,795 | 3,123 |
| Fixed assets | 509 | 499 | 491 | 512 | 499 | 529 | 528 | 540 |
| Investments | 413 | 454 | 329 | 399 | 1,356 | 1,203 | 1,176 | 1,011 |
| Total assets | 5,611 | 8,009 | 12,973 | 17,799 | 13,502 | 12,299 | 9,364 | 10,577 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 285 | 458 | 585 | 669 | 194 | 375 | 455 | 532 |
| Cash from investing | -187 | -209 | -70 | -797 | -1,208 | 20 | -160 | -190 |
| Cash from financing | -49 | -23 | -523 | -55 | 974 | -426 | -219 | -283 |
| Net cash flow | 49 | 228 | 4 | -196 | -37 | -30 | 85 | 42 |
| Capital expenditure | -130 | -99 | -109 | -134 | -113 | -157 | -166 | -158 |
| Free cash flow | 156 | 359 | 476 | 536 | 82 | 218 | 290 | 375 |
BIO revenue by segment
Clinical Diagnostics grew from 60% to 61% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Clinical Diagnostics | 60% | 59% | 61% | 60% | 60% | 61% | 61% | 61% | +2.6% |
| Life Science | 40% | 41% | 39% | 40% | 40% | 39% | 39% | 39% | -4.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- US 39% ↓ 3 pt
- Europe 35% ↑ 4 pt
- Asia Pacific 19% ↓ 1 pt
- Americas 7% ↑ 1 pt
As BIO cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
56 filings between Oct 20, 2025 and Sep 6, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$349.9K
2 sales by 2 insiders
Compensation
not trading decisions- 29
- Option exercise — converted options into shares
- 25
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| BARRY JAMES | — | $214.3K | Nov 6, 2025 |
| ENGELHARDT EVA ANETTE | — | $135.6K | May 11, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 6, 2026 | EVRAN SEDAT EVP, Global Supply Chain | Tax withheld | 277 | $107.0K |
| Sep 6, 2026 | Allison Schwartz Director | Tax withheld | 34 | $13.1K |
| Sep 6, 2026 | SCHWARTZ NORMAN D Chairman & CEO | Option exercise | 3,455 | $0 |
| Sep 6, 2026 | EVRAN SEDAT EVP, Global Supply Chain | Option exercise | 864 | $0 |
| Sep 6, 2026 | Allison Schwartz Director | Option exercise | 92 | $0 |
| Sep 6, 2026 | BARRY JAMES EVP, President, LSG | Tax withheld | 470 | $181.5K |
| Sep 6, 2026 | ENLOE COURTNEY C EVP, General Counsel & Sec | Option exercise | 768 | $0 |
| Sep 6, 2026 | ENGELHARDT EVA ANETTE EVP, President, CDG | Tax withheld | 485 | $187.3K |
| Sep 6, 2026 | Lakkaraju Roop Kalyan EVP, Chief Financial Officer | Tax withheld | 782 | $301.9K |
| Sep 6, 2026 | SCHWARTZ NORMAN D Chairman & CEO | Tax withheld | 1,854 | $715.8K |
| Sep 6, 2026 | BARRY JAMES EVP, President, LSG | Option exercise | 1,056 | $0 |
| Sep 6, 2026 | Lakkaraju Roop Kalyan EVP, Chief Financial Officer | Option exercise | 1,536 | $0 |
| Sep 6, 2026 | ENLOE COURTNEY C EVP, General Counsel & Sec | Tax withheld | 305 | $117.8K |
| Sep 6, 2026 | ENGELHARDT EVA ANETTE EVP, President, CDG | Option exercise | 1,152 | $0 |
| Sep 5, 2026 | Allison Schwartz Director | Tax withheld | 82 | $31.7K |
| Sep 5, 2026 | DiVincenzo Jonathan P. President & COO | Tax withheld | 668 | $257.9K |
| Sep 5, 2026 | Mehta Rajat EVP, GBL Commercial Operations | Option exercise | 456 | $0 |
| Sep 5, 2026 | Mehta Rajat EVP, GBL Commercial Operations | Tax withheld | 233 | $90.0K |
| Sep 5, 2026 | ENGELHARDT EVA ANETTE EVP, President, CDG | Option exercise | 1,027 | $0 |
| Sep 5, 2026 | ENGELHARDT EVA ANETTE EVP, President, CDG | Tax withheld | 369 | $142.5K |
| Sep 5, 2026 | BARRY JAMES EVP, President, LSG | Tax withheld | 369 | $142.5K |
| Sep 5, 2026 | Mehta Rajat EVP, GBL Commercial Operations | Option exercise | 1,370 | $0 |
| Sep 5, 2026 | SCHWARTZ NORMAN D Chairman & CEO | Tax withheld | 2,876 | $1.11M |
| Sep 5, 2026 | Lakkaraju Roop Kalyan EVP, Chief Financial Officer | Option exercise | 1,370 | $0 |
| Sep 5, 2026 | Mehta Rajat EVP, GBL Commercial Operations | Tax withheld | 504 | $194.6K |
| Sep 5, 2026 | ENLOE COURTNEY C EVP, General Counsel & Sec | Option exercise | 685 | $0 |
| Sep 5, 2026 | SCHWARTZ NORMAN D Chairman & CEO | Option exercise | 4,109 | $0 |
| Sep 5, 2026 | Lakkaraju Roop Kalyan EVP, Chief Financial Officer | Tax withheld | 559 | $215.8K |
| Sep 5, 2026 | DiVincenzo Jonathan P. President & COO | Option exercise | 1,712 | $0 |
| Sep 5, 2026 | Allison Schwartz Director | Option exercise | 228 | $0 |
| Sep 5, 2026 | ENLOE COURTNEY C EVP, General Counsel & Sec | Tax withheld | 246 | $95.0K |
| Sep 5, 2026 | EVRAN SEDAT EVP, Global Supply Chain | Option exercise | 1,027 | $0 |
| Sep 5, 2026 | EVRAN SEDAT EVP, Global Supply Chain | Tax withheld | 329 | $127.0K |
| Sep 5, 2026 | BARRY JAMES EVP, President, LSG | Option exercise | 1,027 | $0 |
| Sep 1, 2026 | Allison Schwartz Director | Option exercise | 117 | $0 |
| Sep 1, 2026 | Allison Schwartz Director | Tax withheld | 43 | $16.4K |
| Sep 1, 2026 | SCHWARTZ NORMAN D Chairman & CEO | Tax withheld | 2,336 | $889.9K |
| Sep 1, 2026 | SCHWARTZ NORMAN D Chairman & CEO | Option exercise | 5,087 | $0 |
| Sep 1, 2026 | BARRY JAMES EVP, President, LSG | Tax withheld | 154 | $58.7K |
| Sep 1, 2026 | BARRY JAMES EVP, President, LSG | Option exercise | 425 | $0 |
| Jul 25, 2026 | ENGELHARDT EVA ANETTE EVP, President, CDG | Option exercise | 246 | $0 |
| Jul 25, 2026 | ENGELHARDT EVA ANETTE EVP, President, CDG | Tax withheld | 89 | $28.0K |
| May 11, 2026 | ENGELHARDT EVA ANETTE EVP, President, CDG | Sale | 550 | $135.6K |
| Apr 24, 2026 | ENLOE COURTNEY C EVP, General Counsel & Sec | Tax withheld | 77 | $22.2K |
| Apr 24, 2026 | ENLOE COURTNEY C EVP, General Counsel & Sec | Option exercise | 186 | $0 |
| Apr 24, 2026 | Lakkaraju Roop Kalyan EVP, Chief Financial Officer | Tax withheld | 420 | $120.9K |
| Apr 24, 2026 | Lakkaraju Roop Kalyan EVP, Chief Financial Officer | Option exercise | 1,078 | $0 |
| Apr 21, 2026 | EDWARDS JEFFREY L Director | Option exercise | 407 | $0 |
| Apr 21, 2026 | PEI MELINDA LITHERLAND Director | Option exercise | 407 | $0 |
| Apr 21, 2026 | PINKSTON ARNOLD A Director | Option exercise | 407 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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