Bio-Techne (TECH) Q3 FY2026 earnings: revenue $311 million, down 1.5% on the year

Bio-Techne Corp. (TECH) reported revenue of $311 million for Q3 FY2026, the quarter ended 31 March 2026, down 1.5% on the same quarter a year earlier. Net income was $51 million, up 126.0% on the year, and diluted earnings per share $0.32. The figures are the company's own, from the 10-Q it filed with the SEC on 6 May 2026.

Revenue

$311 million

-1.5% on the year · +5.3% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

24.2%

12.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

$51 million

+126.0% on the year · +34.3% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.32

+128.6% on the year · +33.3% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Revenue declined 2% this quarter: Net sales were $311.4 million, down 2%. Organic revenue also fell 2%, weighed by prior-year GMP fast-track orders and timing of large Commercial Supply shipments.
GAAP EPS up, adjusted EPS down: Diluted GAAP EPS was $0.32 against $0.14. Adjusted EPS was $0.53, compared with $0.56 a year earlier.
Protein Sciences sales dipped 1%: Protein Sciences net sales were $226.2 million, down 1% from $227.7 million a year earlier.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	311	296	316	+5.3%	-1.5%
Cost of revenue	103	105	102	-1.4%	+1.5%
Gross profit	208	191	215	+8.9%	-2.9%
Gross margin	66.9%	64.6%	67.9%
Research and development	23.5	23.1	24.6	+1.4%	-4.6%
Selling, general and administrative	109	114	151	-3.8%	-27.7%
Operating income	75.5	54.5	38.7	+38.6%	+95.0%
Operating margin	24.2%	18.4%	12.2%
Interest expense	2.4	2.2	2.0	+10.6%	+19.7%
Pre-tax income	71.2	50.8	38.3	+40.3%	+86.1%
Income tax	20.2	12.8	15.7	+57.9%	+28.6%
Effective tax rate	28.3%	25.2%	41.0%
Net income	51.0	38.0	22.6	+34.3%	+126.0%
Net margin	16.4%	12.8%	7.1%
Diluted EPS	$0.32	$0.24	$0.14	+33.3%	+128.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	86.7	82.4	41.1	+5.2%	+110.8%
Capital expenditure	9.1	5.9	10.1	+53.5%	-10.2%
Free cash flow	77.6	76.5	31.0	+1.4%	+150.3%
Free cash flow margin	24.9%	25.9%	9.8%
Cash from investing	-5.8	-5.9	-8.9
Cash from financing	-42.7	-49.0	-68.0
Depreciation and amortisation	24.2	24.7	27.6	-2.2%	-12.3%
Share-based compensation	10.5	14.0	11.4	-24.8%	-7.9%
Buybacks	0.0	0.0	100
Dividends paid	12.5	12.5	12.6	+0.4%	-0.5%
Dividend per share	$0.08	$0.08	$0.08	0.0%	0.0%
Diluted shares, weighted	157m	157m	159m	+0.3%	-1.0%
Shares outstanding at period end	157m	156m	157m	+0.4%	-0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,085	2,011	2,018	+3.7%	+3.3%
Debt	200	260	330	-23.1%	-39.4%
Operating lease liabilities	76.1	77.2	79.5	-1.4%	-4.2%
Other liabilities	189	175	217	+8.4%	-12.7%
Total liabilities and equity	2,551	2,523	2,644	+1.1%	-3.5%
Fixed assets	233	234	252	-0.6%	-7.5%
Goodwill	978	981	969	-0.3%	+0.9%
Intangible assets	319	335	444	-4.8%	-28.1%
Investments	n/a	n/a	0.0
Cash and equivalents	210	173	141	+21.4%	+49.2%
Receivables	215	185	237	+16.2%	-9.5%
Inventory	201	205	191	-2.1%	+5.3%
Other assets	395	410	411	-3.6%	-3.9%
Total assets	2,551	2,523	2,644	+1.1%	-3.5%

Questions

What was Bio-Techne's revenue in Q3 FY2026?

Bio-Techne (TECH) reported revenue of $311 million for Q3 FY2026, the quarter ended 31 March 2026, down 1.5% on the same quarter a year earlier.

How much did Bio-Techne earn in Q3 FY2026?

Net income for Q3 FY2026 was $51 million, up 126.0% on the year, and diluted earnings per share $0.32.

When did Bio-Techne report Q3 FY2026 results?

Bio-Techne filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 6 May 2026.

Quarterly results, the last 20 quarters

	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	269	290	288	270	272	294	301	277	273	303	306	289	297	316	317	287	296	311	321	300
Cost of revenue	85.6	88.9	87.9	90.1	88.2	92.0	96.6	91.7	96.0	98.8	103	106	103	102	118	98.4	105	103	110	103
Gross profit	184	201	200	180	183	202	205	185	177	205	203	183	194	215	199	188	191	208	211	197
Gross margin	68%	69%	70%	67%	68%	69%	68%	67%	65%	67%	66%	63%	65%	68%	63%	66%	65%	67%	66%	66%
R&D	20.6	21.7	23.1	23.9	22.5	22.7	23.4	24.0	22.9	25.8	24.0	23.9	25.0	24.6	26.0	24.2	23.1	23.5	23.9	26.3
SG&A	101	89.3	96.6	99.4	93.0	99.2	86.8	105	116	112	134	119	121	151	197	116	114	109	113	134
Operating income	62.3	90.4	80.6	56.3	67.9	80.2	94.5	55.9	38.0	67.0	45.8	40.0	47.4	38.7	-23.9	47.7	54.5	75.5	74.3	36.6
Operating margin	23%	31%	28%	21%	25%	27%	31%	20%	14%	22%	15%	14%	16%	12%	-8%	17%	18%	24%	23%	12%
Interest expense	2.9	2.5	2.5	3.8	2.4	1.4	3.7	4.9	4.3	4.0	2.5	2.2	2.1	2.0	2.2	2.9	2.2	2.4	2.1	2.2
Pre-tax income	86.2	68.8	79.1	104	66.4	80.2	88.3	49.6	33.4	61.1	41.7	40.2	42.9	38.3	-22.9	48.0	50.8	71.2	70.7	34.7
Tax rate	16%	13%	22%	13%	25%	12%	15%	-3%	18%	20%	3%	16%	19%	41%	n/a	20%	25%	28%	23%	18%
Net income	80.2	60.7	61.5	89.6	50.0	70.2	75.5	51.0	27.5	49.1	40.6	33.6	34.9	22.6	-17.7	38.2	38.0	51.0	54.6	28.3
Net margin	30%	21%	21%	33%	18%	24%	25%	18%	10%	16%	13%	12%	12%	7%	-6%	13%	13%	16%	17%	9%
Diluted EPS	$0.48	$0.37	$0.38	$0.55	$0.31	$0.43	$0.47	$0.31	$0.17	$0.31	$0.25	$0.21	$0.22	$0.14	-$0.11	$0.24	$0.24	$0.32	$0.35	$0.18
Operating cash flow	101	73.1	103	56.1	64.4	50.5	83.4	59.4	83.1	81.0	75.5	63.9	84.3	41.1	98.2	27.6	82.4	86.7	95.4	73.1
Capital expenditure	10.2	15.1	13.6	9.6	6.1	11.7	10.8	13.6	14.9	16.4	18.0	9.2	6.8	10.1	4.9	5.4	5.9	9.1	8.5	5.9
Free cash flow	90.8	58.0	89.1	46.5	58.3	38.8	72.6	45.8	68.3	64.5	57.5	54.7	77.5	31.0	93.3	22.2	76.5	77.6	86.9	67.2
Buybacks	n/a	60.8	n/a	19.6	0.0	0.0	0.0	n/a	n/a	0.0	n/a	n/a	n/a	100	n/a	0.0	0.0	0.0	41.7	n/a
Dividends paid	12.6	12.6	12.5	12.5	12.6	12.6	12.6	12.7	12.6	12.6	12.6	12.7	12.7	12.6	12.4	12.4	12.5	12.5	12.5	12.6
Shares outstanding	157m	157m	157m	157m	157m	157m	158m	158m	157m	158m	158m	159m	158m	157m	155m	156m	156m	157m	156m	157m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 6 May 2026: the filing.