Bio-Rad Laboratories reported fourth-quarter 2024 net sales of $667.5 million, a 2.0% decrease compared to Q4 2023, and a 2.3% decrease on a currency-neutral basis. For the full year 2024, net sales decreased 3.9% to $2,566.5 million, or 3.6% currency-neutral, compared to 2023.
The Life Science segment experienced a 5.5% decline in Q4 sales (6.0% currency-neutral) due to ongoing weakness in biotech and biopharma end markets. Conversely, the Clinical Diagnostics segment saw sales increase by 0.9% (0.7% currency-neutral), driven by demand for quality control and blood typing products.
Non-GAAP diluted EPS for Q4 2024 was $2.90, compared to $3.10 in Q4 2023, while full-year 2024 non-GAAP diluted EPS was $10.31, down from $11.78 in 2023. The GAAP net loss for Q4 2024 was $715.8 million, or $25.57 per share, primarily due to changes in the fair market value of its investment in Sartorius AG.
The company provided its full-year 2025 non-GAAP guidance, expecting currency-neutral revenue growth of approximately 1.5% to 3.5% and an estimated non-GAAP operating margin of approximately 13.0% to 13.5%. This outlook reflects a cautious but positive growth trajectory for the upcoming year.
Bio-Rad also announced a binding offer to acquire Stilla Technologies, a developer of next-generation digital PCR instruments, consumables, and assays. This acquisition is expected to close by the end of the third quarter of 2025, subject to consultation and regulatory approvals.
The planned acquisition of Stilla Technologies is a strategic move to significantly expand Bio-Rad's digital PCR portfolio. It aims to complement existing offerings and accelerate the development of next-generation digital PCR solutions, targeting growth in applied research and clinical diagnostics.
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