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Bio-Rad Laboratories (NYSE: BIO, BIO.B) reported Q2 2022 net sales of $691.1 million, down 3.5% year-over-year, with COVID-related revenue falling to approximately $33 million. Currency-neutral sales recorded a 0.5% increase. Life Science segment sales decreased by 3.5% to $322.4 million, while Clinical Diagnostics fell 3.3% to $367.8 million. A significant net loss of $927.2 million was reported versus a net income of $914.1 million in Q2 2021, largely due to equity securities valuation changes. The full-year outlook remains positive with expected revenue growth and an increased share repurchase program of $200 million.
Bio-Rad Laboratories, Inc. reported Q1 2022 net sales of $700.1 million, down 3.7% from Q1 2021. Excluding COVID-related sales, revenue increased 6.5% on a currency-neutral basis, driven by strong growth in Process Media and Droplet Digital PCR products. The net loss for the quarter was $3.37 billion or $112.57 per share, significantly impacted by changes in the fair market value of equity securities. Non-GAAP net income was $149.1 million, or $4.94 per diluted share. The company anticipates 1.0% to 2.0% revenue growth for FY 2022.
908 Devices (NASDAQ: MASS) is collaborating with CPI to enhance mammalian cell culture techniques aimed at improving growth and protein quality. Utilizing their REBEL™ device, they analyze cell culture media to control critical process parameters. This initiative supports the biopharmaceutical industry's need for predictive modeling and real-time process control in light of advancing therapies. The REBEL allows for rapid analysis, providing insights into amino acid depletion and other metabolic factors, ultimately enhancing bioprocessing workflows.
Sartorius AG's Annual General Shareholders' Meeting on March 25, 2022, resulted in significant decisions. Shareholders approved discharges for the Executive and Supervisory Boards and endorsed the proposal to distribute dividends of 1.26 euros per preference share and 1.25 euros per ordinary share, amounting to 85.9 million euros, a notable increase from the previous year's dividends of 0.71 euros and 0.70 euros respectively. Additionally, new supervisory board members were elected, including digital expert Frank Riemensperger.
Bio-Rad Laboratories, Inc. (NYSE: BIO) is hosting an investor day in New York City, highlighting its growth strategy and financial targets. The company aims for a 9% core revenue CAGR from 2021 to 2025 and a 28% adjusted EBITDA margin by 2025. Bio-Rad emphasizes portfolio transformation and expansion in the biopharma sector. The Life Science Research and Clinical Diagnostics segments are expected to drive growth through advanced products and solutions. Bio-Rad has consistently exceeded its previous financial targets, setting a positive outlook for future performance.
Bio-Rad Laboratories reported Q4 2021 net sales of $732.8 million, down 7.2% year-over-year, with a gross margin of 54.7%. The Life Science segment saw a 23.8% sales decline primarily due to reduced COVID-19 demand, while Clinical Diagnostics rose by 12.6%. The company experienced a net loss of $1,573.7 million or $52.59 per diluted share, impacted by equity securities valuation changes. For full-year 2021, net sales increased 14.8% to $2.92 billion with a net income of $4.24 billion.
FreeWire Technologies has appointed Tamara Mecham as the new Vice President of Human Resources and Talent, effective immediately. Mecham, who previously held a similar role at Sartorius AG, will focus on leadership development and diversity initiatives amid the company's growth. CEO Arcady Sosinov emphasizes her extensive experience in driving talent acquisition and HR strategies essential for FreeWire’s mission in the EV sector. The company has established partnerships with major entities for deploying EV charging solutions.
Bio-Rad Laboratories reported third-quarter 2021 net sales of $747.0 million, a 15.4% increase from $647.3 million year-over-year. The gross margin improved to 58.6% from 56.7% in Q3 2020. The Life Science segment sales rose 15.3% to $373.5 million, while Clinical Diagnostics saw a 15.5% increase to $372.2 million. Net income surged to $3,928.0 million or $129.96 per diluted share, compared to $1,314.8 million or $43.64 in the prior year. The company updated its 2021 guidance, now expecting 12-13% currency-neutral revenue growth.
Waters Corporation (NYSE: WAT) and Sartorius (DAX: SRT:GR) have announced a partnership to enhance biopharmaceutical process development. Their collaboration integrates the Waters BioAccord LC-MS System with Sartorius’ Ambr multi-parallel bioreactor systems, enabling faster access to critical quality data. This integration can reduce analysis time from several weeks to just two days, aiding scientists in clone selection and process optimization. The initiative aims to meet the growing demand for upstream analytical data in the rapidly expanding biopharmaceutical market, projected to grow at a ~10% CAGR until 2025.
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