BIO-RAD LABORATORIES, INC. has recently released its 10-K report, providing a comprehensive overview of its financial performance and operations for the fiscal year ended December 31, 2025. The company, founded in 1952 and headquartered in Hercules, California, operates through two segments * Life Science and Clinical Diagnostics. It manufactures and distributes a wide range of life science research and clinical diagnostic products globally, serving customers in scientific research, healthcare, education, and government sectors.
In the 10-K report, the company discusses its financial condition and results of operations in ITEM 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations. It highlights that approximately 40% of its 2025 consolidated net sales are derived from the United States, with the remaining 60% from international locations, particularly Europe. The report emphasizes the impact of global economic and geopolitical conditions, noting that uncertain economic outlook and reduced government spending continue to pose challenges, particularly in the biopharma market and among small biotech companies.
The report also delves into the critical accounting policies and estimates, including accounting for income taxes, impairment of goodwill, revenue recognition, and fair value measurements. It provides insight into the company's approach to estimating income taxes, assessing the recoverability of deferred tax assets, and conducting goodwill impairment analysis.
Furthermore, the report presents a detailed analysis of the company's results of operations, comparing the year ended December 31, 2025, to the prior year. It reveals that the company reported net sales of $2.58 billion for 2025, a slight increase of 0.7% compared to 2024. The Life Science segment experienced a decrease in sales, while the Clinical Diagnostics segment saw an increase. However, the consolidated gross margin decreased to 51.9% in 2025 from 53.7% in 2024. Additionally, there were fluctuations in selling, general and administrative expenses, research and development expenses, and impairment of purchased intangibles and related items.
The 10-K report provides a deep dive into the company's financial performance, shedding light on the challenges and opportunities it faces in the current economic landscape. Today the company's shares have moved -2.65% to a price of $313.53. For more information, read the company's full 10-K submission here.
