Bruker Reports First Quarter 2025 Financial Results
-
Q1 2025 revenues of
$801.4 million , up 11.0% year-over-year; organic revenue up 2.9%, and constant-exchange rate (CER) revenue up 12.5%;Bruker Scientific Instrument (BSI) segment organic revenue up 5.1% -
Q1 2025 GAAP diluted EPS
$0.11 ; non-GAAP diluted EPS$0.47 , down 11.3% yoy on M&A headwinds -
Guidance on organic revenue and EPS adjusted for US policy changes and tariff headwinds. Updated FY 2025 guidance:
-
Revenue
$3.48 to$3.55 billion , up 3.5% to 5.5%, incl. organic growth of 0% to 2% -
Non-GAAP EPS
$2.40 to$2.48 , growth of 0% to 3% yoy
-
Revenue
He continued: “It has become evident that academic market and tariff dynamics will have a meaningful impact on our financial performance in 2025, and accordingly we are lowering our organic revenue growth and non-GAAP EPS guidance for the full year. With additional cost and pricing initiatives, as well as supply network re-engineering, we anticipate that we will be able to mitigate slightly more than half of the new headwinds in 2025. We expect to resume our planned margin expansion and rapid EPS growth in 2026 and beyond.”
First Quarter 2025 Financial Results
Bruker’s revenues for the first quarter of 2025 were
First quarter 2025 Bruker Scientific Instruments (BSI) revenues of
First quarter 2025 GAAP operating income was
First quarter 2025 GAAP diluted earnings per share (EPS) were
Updated Fiscal Year 2025 Financial Outlook
Bruker now expects FY 2025 revenues of
- CER revenue growth of 2.5% to 4.5%
- Organic revenue growth of 0% to 2%
- M&A revenue growth contribution of ~2.5%
- Foreign currency translation revenue tailwind of ~1%
Bruker now expects FY 2025 non-GAAP EPS of
Bruker’s FY 2025 revenue and non-GAAP EPS guidance is based on foreign currency exchange rates and tariff rates as of
For the Company’s outlook for 2025 organic revenue growth, M&A revenue growth, constant exchange rate revenue growth, and constant exchange rate non-GAAP EPS growth, and non-GAAP EPS, we are not able to provide without unreasonable effort the most directly comparable GAAP financial measures, or reconciliations to such GAAP financial measures on a forward-looking basis. Please see “Use of Non-GAAP Financial Measures” below for a description of items excluded from our expected non-GAAP EPS.
Quarterly Earnings Call
Bruker will host a conference call and webcast to discuss its financial results, business outlook, and related corporate and financial matters today,
Bruker is enabling investors to pre-register for the earnings conference call so that they can expedite their entry into the call and avoid the need to wait for a live operator. In order to pre-register for the call, investors can visit https://dpregister.com/sreg/10198987/fef65dcb43 and enter their contact information. Investors will then be issued a personalized phone number and PIN to dial into the live conference call. Individuals can pre-register any time prior to the start of the conference call.
A telephone replay of the conference call will be available by dialing 1-877-344-7529 (
About
Bruker is enabling scientists and engineers to make breakthrough post-genomic discoveries and develop new applications that improve the quality of human life. Bruker’s high performance scientific instruments and high value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular, and microscopic levels. In close cooperation with our customers, Bruker is enabling innovation, improved productivity, and customer success in post-genomic life science molecular and cell biology research, in applied and biopharma applications, in microscopy and nanoanalysis, as well as in industrial and cleantech research, and next-gen semiconductor metrology in support of AI. Bruker offers differentiated, high value life science and diagnostics systems and solutions in preclinical imaging, clinical phenomics research, proteomics and multiomics, spatial and single-cell biology, functional structural and condensate biology, as well as in clinical microbiology and molecular diagnostics. For more information, please visit www.bruker.com.
Use of Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with
We also may refer to constant-exchange rate (CER) currency revenue growth, constant-exchange rate (CER) Non-GAAP EPS growth, and free cash flow or use which are also non-GAAP financial measures. We define the term CER currency revenue as GAAP revenue excluding the effect of changes in foreign currency translation rates. We define the term CER EPS as Non-GAAP EPS excluding the effect of changes in foreign currency translation rates. We define free cash flow as net cash provided by operating activities less additions to property, plant, and equipment. We believe free cash flow is a useful measure to evaluate our business because it indicates the amount of cash generated after additions to property, plant, and equipment that is available for, among other things, acquisitions, investments in our business, repayment of debt and return of capital to shareholders.
The presentation of these non-GAAP financial measures is not intended to be a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP and may be different from non-GAAP financial measures used by other companies, and therefore, may not be comparable among companies. We believe these non-GAAP financial measures provide meaningful supplemental information regarding our performance. However, we urge investors to review the reconciliation of these financial measures to the comparable GAAP financial measures included in the accompanying tables, and not to rely on any single financial measure to evaluate our business. Specifically, management believes that the non-GAAP measures mentioned above provide relevant and useful information which is widely used by analysts, investors and competitors in our industry, as well as by our management, in assessing both consolidated and business unit performance.
We use these non-GAAP financial measures to evaluate our period-over-period operating performance because our management believes this provides a more comparable measure of our continuing business by adjusting for certain items that are not reflective of the underlying performance of our business. These measures may also be useful to investors in evaluating the underlying operating performance of our business and forecasting future results. We regularly use these non-GAAP financial measures internally to understand, manage, and evaluate our business results and make operating decisions. We also measure our employees and compensate them, in part, based on certain non-GAAP measures and use this information for our planning and forecasting activities.
Additional information relating to the non-GAAP financial measures used in this press release and reconciliations to the most directly comparable GAAP financial measures are provided in the tables accompanying this press release following our GAAP financial statements.
With respect to our outlook for 2025 non-GAAP organic revenue, non-GAAP M&A revenue, non-GAAP constant exchange rate (CER) revenue and non-GAAP EPS, we are not providing the most directly comparable GAAP financial measures or corresponding reconciliations to such GAAP financial measures on a forward-looking basis, because we are unable to predict with reasonable certainty certain items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort. Our expected non-GAAP organic revenue and EPS ranges exclude primarily the future impact of restructuring actions, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments. These reconciling items are uncertain, depend on various factors outside our management’s control and could significantly impact, either individually or in the aggregate, our future period revenues and EPS presented in accordance with GAAP.
Forward-Looking Statements
Any statements contained in this press release which do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our fiscal year 2025 and beyond financial outlook, our outlook for reported revenue growth, organic revenue growth, M&A revenue growth contributions, CER currency revenue growth, margin improvements, foreign currency translation revenue impact, EPS, non-GAAP EPS, and CER Non-GAAP EPS growth; effects of academic market and tariff dynamics on our future financial results and our ability to mitigate such effects in the future; management’s expectations for the impact of foreign currency and acquisitions; and for future financial and operational performance and business outlook; future economic conditions; and statements found under the “Use of Non-GAAP Financial Measures” section of this release. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the length and severity of any recession and the impact on global economic conditions, the impact of supply chain challenges, including inflationary pressures, the impact of geopolitical tensions and any sanctions, including any reduction in natural gas exports from
|
|||||
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) |
|||||
(in millions) |
|||||
|
|
|
|||
ASSETS |
|
|
|||
Current assets: |
|
|
|||
Cash and cash equivalents |
$ |
184.2 |
$ |
183.4 |
|
Accounts receivable, net |
|
537.8 |
|
565.5 |
|
Inventories |
|
1,116.5 |
|
1,067.8 |
|
Other current assets |
|
273.0 |
|
236.5 |
|
Total current assets |
|
2,111.5 |
|
2,053.2 |
|
Property, plant and equipment, net |
|
689.0 |
|
669.3 |
|
|
|
3,132.6 |
|
3,084.2 |
|
Total assets |
$ |
5,933.1 |
$ |
5,806.7 |
|
|
|
|
|||
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND
|
|
|
|||
Current liabilities: |
|
|
|||
Current portion of long-term debt and finance lease obligations |
$ |
37.7 |
$ |
32.5 |
|
Accounts payable |
|
244.6 |
|
234.1 |
|
Deferred revenue and customer advances |
|
470.6 |
|
438.2 |
|
Other current liabilities |
|
592.0 |
|
576.5 |
|
Total current liabilities |
|
1,344.9 |
|
1,281.3 |
|
Long-term debt |
|
2,076.1 |
|
2,061.8 |
|
Other long-term liabilities |
|
660.9 |
|
648.4 |
|
|
|
|
|||
Redeemable noncontrolling interests |
|
18.3 |
|
18.1 |
|
|
|
|
|||
Total shareholders' equity |
|
1,832.9 |
|
1,797.1 |
|
Total liabilities, redeemable noncontrolling interests and shareholders' equity |
$ |
5,933.1 |
$ |
5,806.7 |
|
||||||
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) |
||||||
(in millions, except per share data) |
||||||
|
Three Months Ended
|
|||||
|
2025 |
2024 |
||||
Revenue |
$ |
801.4 |
|
$ |
721.7 |
|
Cost of revenue |
|
410.2 |
|
|
368.9 |
|
Gross profit |
|
391.2 |
|
|
352.8 |
|
Operating expenses: |
|
|
|
|||
Selling, general and administrative |
|
225.4 |
|
|
195.3 |
|
Research and development |
|
97.1 |
|
|
81.8 |
|
Other charges, net |
|
36.9 |
|
|
10.9 |
|
Total operating expenses |
|
359.4 |
|
|
288.0 |
|
Operating income |
|
31.8 |
|
|
64.8 |
|
Interest and other income (expense), net |
|
(6.7 |
) |
|
6.8 |
|
Income before income taxes, equity in income (losses) of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries (a) |
|
25.1 |
|
|
71.6 |
|
Income tax provision |
|
8.7 |
|
|
19.8 |
|
Equity in income (losses) of unconsolidated investees, net of tax |
|
0.4 |
|
|
0.2 |
|
Consolidated net income |
|
16.8 |
|
|
52.0 |
|
Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries |
|
(0.6 |
) |
|
1.1 |
|
Net income attributable to |
$ |
17.4 |
|
$ |
50.9 |
|
Net income per common share attributable to |
|
|
|
|||
Basic |
$ |
0.11 |
|
$ |
0.35 |
|
Diluted |
$ |
0.11 |
|
$ |
0.35 |
|
Weighted average common shares outstanding: |
|
|
|
|||
Basic |
|
151.6 |
|
|
145.2 |
|
Diluted |
|
151.9 |
|
|
145.9 |
|
(a) On subsequent pages this is referred to as “Profit before income tax”. |
|
|||||||
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) |
|||||||
(in millions) |
|||||||
|
Three Months Ended
|
||||||
|
2025 |
2024 |
|||||
Cash flows from operating activities: |
|
|
|
|
|||
Consolidated net income |
$ |
16.8 |
|
$ |
52.0 |
|
|
Adjustments to reconcile consolidated net income to cash flows from operating activities: |
|
|
|
|
|||
Depreciation and amortization |
|
50.4 |
|
|
34.7 |
|
|
Deferred income taxes |
|
(22.7 |
) |
|
(2.1 |
) |
|
Other non-cash expenses, net |
|
11.2 |
|
|
0.6 |
|
|
Changes in operating assets and liabilities, net of acquisitions and divestitures |
|
9.3 |
|
|
(63.4 |
) |
|
Net cash provided by operating activities |
|
65.0 |
|
|
21.8 |
|
|
|
|
|
|
|
|||
Cash flows from investing activities: |
|
|
|
|
|||
Purchases of property, plant and equipment |
|
(26.0 |
) |
|
(21.4 |
) |
|
Cash paid for acquisitions, net of cash acquired |
|
(1.1 |
) |
|
(274.5 |
) |
|
Other investing activities, net |
|
1.0 |
|
|
(8.3 |
) |
|
Net cash used in investing activities |
|
(26.1 |
) |
|
(304.2 |
) |
|
|
|
|
|
|
|||
Cash flows from financing activities: |
|
|
|
|
|||
Repayments of revolving lines of credit |
|
(167.9 |
) |
|
(0.5 |
) |
|
Proceeds from revolving lines of credit |
|
139.9 |
|
|
268.9 |
|
|
Repayment of long-term debt |
|
(7.7 |
) |
|
(107.2 |
) |
|
Proceeds from long-term debt |
|
2.9 |
|
|
— |
|
|
Payment of dividends to common shareholders |
|
(7.7 |
) |
|
(7.3 |
) |
|
Repurchase of common stock |
|
(10.0 |
) |
|
— |
|
|
Other financing activities, net |
|
(0.7 |
) |
|
(2.2 |
) |
|
Net cash provided by (used in) financing activities |
|
(51.2 |
) |
|
151.7 |
|
|
|
|
|
|
|
|||
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
13.3 |
|
|
(17.6 |
) |
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
|
1.0 |
|
|
(148.3 |
) |
|
Cash, cash equivalents and restricted cash at beginning of period |
|
186.7 |
|
|
491.6 |
|
|
Cash, cash equivalents and restricted cash at end of period |
$ |
187.7 |
|
$ |
343.3 |
|
|
|||||||||||||||||||||||||||||||||
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES |
|||||||||||||||||||||||||||||||||
(unaudited and in millions, except per share data) |
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The tables below present the GAAP to Non-GAAP reconciliation for the following financial measures: Gross Profit and Gross Profit Margin; Selling, General and Administrative (“SG&A”) Expenses; Interest and Other Income (Expense), net; Operating Income and Operating Income Margin; Profit before Income Taxes; Net Income Attributable to |
|||||||||||||||||||||||||||||||||
|
Gross Profit |
Gross Profit Margin |
SG&A Expenses |
Operating Income |
Operating Income Margin |
Interest and other income (expense), net |
Profit before income tax |
Net Income attributable to |
Diluted net income per common share |
Income Tax Rate |
|||||||||||||||||||||||
Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
GAAP |
$ |
391.2 |
48.8 |
% |
$ |
225.4 |
|
$ |
31.8 |
4.0 |
% |
$ |
(6.7 |
) |
$ |
25.1 |
$ |
17.4 |
|
$ |
0.11 |
|
34.7 |
% |
|||||||||
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Restructuring costs |
|
2.6 |
0.3 |
% |
|
— |
|
|
10.2 |
1.3 |
% |
|
— |
|
|
10.2 |
|
10.2 |
|
|
0.07 |
|
— |
|
|||||||||
Acquisition-related costs |
|
2.3 |
0.3 |
% |
|
— |
|
|
8.6 |
1.1 |
% |
|
— |
|
|
8.6 |
|
8.6 |
|
|
0.06 |
|
|
||||||||||
Purchased intangibles amortization |
|
14.0 |
1.7 |
% |
|
(13.1 |
) |
|
27.3 |
3.4 |
% |
|
— |
|
|
27.3 |
|
27.3 |
|
|
0.18 |
|
— |
|
|||||||||
Acquisition-related litigation charges |
|
— |
— |
|
|
— |
|
|
18.6 |
2.3 |
% |
|
— |
|
|
18.6 |
|
18.6 |
|
|
0.12 |
|
|
||||||||||
Investments related adjustments |
|
— |
— |
|
|
— |
|
|
— |
— |
|
|
2.0 |
|
|
2.0 |
|
2.0 |
|
|
0.01 |
|
— |
|
|||||||||
Other costs |
|
0.8 |
0.2 |
% |
|
— |
|
|
5.2 |
0.6 |
% |
|
— |
|
|
5.2 |
|
5.2 |
|
|
0.03 |
|
|
||||||||||
Tax effect of above Non-GAAP adjustments |
|
— |
— |
|
|
— |
|
|
— |
— |
|
|
— |
|
|
— |
|
(18.2 |
) |
|
(0.11 |
) |
(0.6 |
)% |
|||||||||
Other Discrete Items |
|
— |
— |
|
|
— |
|
|
— |
— |
|
|
— |
|
|
— |
|
— |
|
|
— |
|
(6.4 |
)% |
|||||||||
Equity in income (losses) of unconsolidated investees, net of tax |
|
— |
— |
|
|
— |
|
|
— |
— |
|
|
— |
|
|
— |
|
(0.4 |
) |
|
— |
|
— |
|
|||||||||
Total Non-GAAP adjustments |
|
19.7 |
2.5 |
% |
|
(13.1 |
) |
|
69.9 |
8.7 |
% |
|
2.0 |
|
|
71.9 |
|
53.3 |
|
|
0.36 |
|
(7.0 |
)% |
|||||||||
Non-GAAP |
$ |
410.9 |
51.3 |
% |
$ |
212.3 |
|
$ |
101.7 |
12.7 |
% |
$ |
(4.7 |
) |
$ |
97.0 |
$ |
70.7 |
|
$ |
0.47 |
|
27.7 |
% |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
GAAP |
$ |
352.8 |
48.9 |
% |
$ |
195.3 |
|
$ |
64.8 |
9.0 |
% |
$ |
6.8 |
|
$ |
71.6 |
$ |
50.9 |
|
$ |
0.35 |
|
27.7 |
% |
|||||||||
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Restructuring costs |
|
3.7 |
0.5 |
% |
|
— |
|
|
7.2 |
1.0 |
% |
|
— |
|
|
7.2 |
|
7.2 |
|
|
0.05 |
|
— |
|
|||||||||
Acquisition-related costs |
|
3.0 |
0.4 |
% |
|
— |
|
|
7.1 |
1.0 |
% |
|
— |
|
|
7.1 |
|
7.1 |
|
|
0.05 |
|
— |
|
|||||||||
Purchased intangibles amortization |
|
7.8 |
1.1 |
% |
|
(8.3 |
) |
|
16.2 |
2.2 |
% |
|
— |
|
|
16.2 |
|
16.2 |
|
|
0.11 |
|
— |
|
|||||||||
Other costs |
|
2.1 |
0.3 |
% |
|
— |
|
|
5.4 |
0.8 |
% |
|
— |
|
|
5.4 |
|
5.4 |
|
|
0.04 |
|
— |
|
|||||||||
Tax effect of above Non-GAAP adjustments |
|
— |
— |
|
|
— |
|
|
— |
— |
|
|
— |
|
|
— |
|
(8.9 |
) |
|
(0.07 |
) |
(0.6 |
)% |
|||||||||
Other Discrete Items |
|
— |
— |
|
|
— |
|
|
— |
— |
|
|
— |
|
|
— |
|
— |
|
|
— |
|
(0.4 |
)% |
|||||||||
Equity in income (losses) of unconsolidated investees, net of tax |
|
— |
— |
|
|
— |
|
|
— |
— |
|
|
— |
|
|
— |
|
(0.2 |
) |
|
— |
|
— |
|
|||||||||
Total Non-GAAP adjustments |
|
16.6 |
2.3 |
% |
|
(8.3 |
) |
|
35.9 |
5.0 |
% |
|
— |
|
|
35.9 |
|
26.8 |
|
|
0.18 |
|
(1.0 |
)% |
|||||||||
Non-GAAP |
$ |
369.4 |
51.2 |
% |
$ |
187.0 |
|
$ |
100.7 |
14.0 |
% |
$ |
6.8 |
|
$ |
107.5 |
$ |
77.7 |
|
$ |
0.53 |
|
26.7 |
% |
|
|||||||
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES - Continued |
|||||||
(unaudited and in millions, except per share data) |
|||||||
The tables below present the GAAP to Non-GAAP reconciliation for Organic revenue, CER currency revenue, and Free Cash Flow: |
|||||||
|
Three Months Ended
|
||||||
|
2025 |
2024 |
|||||
GAAP revenue Total Bruker |
$ |
801.4 |
|
$ |
721.7 |
|
|
Non-GAAP adjustments: |
|
|
|
|
|||
Acquisitions and divestitures (1) |
|
69.2 |
|
|
26.3 |
|
|
Effect of changes in foreign currency translation rate (2) |
|
(10.4 |
) |
|
(1.0 |
) |
|
Non-GAAP Organic revenue Total Bruker |
$ |
742.6 |
|
$ |
696.4 |
|
|
GAAP Revenue growth rate |
|
11.0 |
% |
|
5.3 |
% |
|
Non-GAAP Organic revenue growth rate |
|
2.9 |
% |
|
1.6 |
% |
|
Three Months Ended
|
||||||
|
2025 |
2024 |
|||||
GAAP revenue Bruker Scientific Instruments (3) |
$ |
744.5 |
|
$ |
651.1 |
|
|
Non-GAAP adjustments: |
|
|
|
|
|||
Acquisitions and divestitures (1) |
|
69.2 |
|
|
26.3 |
|
|
Effect of changes in foreign currency translation rate (2) |
|
(9.2 |
) |
|
(1.8 |
) |
|
Non-GAAP Organic revenue Bruker Scientific Instruments |
$ |
684.5 |
|
$ |
626.6 |
|
|
GAAP Revenue growth rate |
|
14.3 |
% |
|
3.9 |
% |
|
Non-GAAP Organic revenue growth rate |
|
5.1 |
% |
|
0.0 |
% |
|
Three Months Ended
|
||||||
|
2025 |
2024 |
|||||
GAAP revenue BEST, net of Intercompany Eliminations |
$ |
56.9 |
|
$ |
70.6 |
|
|
Non-GAAP adjustments: |
|
|
|
|
|||
Acquisitions and divestitures (1) |
|
— |
|
|
— |
|
|
Effect of changes in foreign currency translation rate (2) |
|
(1.2 |
) |
|
0.8 |
|
|
Non-GAAP Organic revenue BEST, net of Intercompany Eliminations |
$ |
58.1 |
|
$ |
69.8 |
|
|
GAAP Revenue growth rate |
|
(19.4 |
)% |
|
20.3 |
% |
|
Non-GAAP Organic revenue growth rate |
|
(17.7 |
)% |
|
18.9 |
% |
|
(1) We define the term acquisitions and divestitures revenue as GAAP revenue from M&A activities excluding the effect of changes in foreign currency translation rates. (2) We define the term organic revenue as GAAP revenue excluding the effect of changes in foreign currency translation rates and the effect of acquisitions and divestitures.
(3) Bruker Scientific Instruments (BSI) revenue reflects the sum of the BSI BioSpin, CALID and Nano Segments as presented in our Annual Report on Form 10-K for the year ended |
|
|||||||
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES - Continued |
|||||||
(unaudited and in millions, except per share data) |
|||||||
|
Three Months Ended
|
||||||
|
2025 |
2024 |
|||||
GAAP revenue |
$ |
801.4 |
|
$ |
721.7 |
|
|
Non-GAAP adjustments: |
|
|
|
|
|||
Effect of changes in foreign currency translation rates |
|
(10.4 |
) |
|
(1.0 |
) |
|
Non-GAAP CER currency revenue |
$ |
811.8 |
|
$ |
722.7 |
|
|
GAAP Revenue growth rate |
|
11.0 |
% |
|
5.3 |
% |
|
Non-GAAP CER currency revenue growth rate |
|
12.5 |
% |
|
5.5 |
% |
|
Three Months Ended
|
||||||
|
2025 |
|
2024 |
||||
Net cash provided by operating activities |
$ |
65.0 |
|
|
$ |
21.8 |
|
Non-GAAP adjustments: |
|
|
|
|
|
||
Purchases of property, plant and equipment |
|
(26.0 |
) |
|
|
(21.4 |
) |
Non-GAAP free cash flow (use) |
$ |
39.0 |
|
|
$ |
0.4 |
|
|
|||||||
REVENUE |
|||||||
(unaudited and in millions) |
|||||||
|
Three Months Ended
|
||||||
|
2025 |
|
2024 |
||||
Revenue by Segment: |
|
|
|
|
|
||
|
$ |
207.8 |
|
|
$ |
182.8 |
|
Bruker CALID |
|
280.1 |
|
|
|
227.9 |
|
|
|
256.6 |
|
|
|
240.4 |
|
BSI Revenue Total |
|
744.5 |
|
|
|
651.1 |
|
BEST |
|
59.3 |
|
|
|
73.1 |
|
Eliminations |
|
(2.4 |
) |
|
|
(2.5 |
) |
Total revenue |
$ |
801.4 |
|
|
$ |
721.7 |
|
|
|
|
|
|
|
||
Revenue by End Customer Geography: |
|
|
|
|
|
||
|
$ |
217.4 |
|
|
$ |
194.8 |
|
|
|
285.2 |
|
|
|
244.9 |
|
|
|
232.6 |
|
|
|
222.7 |
|
Other |
|
66.2 |
|
|
|
59.3 |
|
Total revenue |
$ |
801.4 |
|
|
$ |
721.7 |
|
|
|||||||||||||
Summary of Reported Revenue Growth Components |
|||||||||||||
(unaudited and in millions) |
|||||||||||||
The table below presents a summary of reported revenue growth components for the periods reported for |
|||||||||||||
|
|
|
Variance explained by: |
|
|
|
|
|
|
||||
|
GAAP revenue
|
|
Acquisitions
|
|
Organic
|
|
Effect of changes in foreign currency translation rates |
|
GAAP revenue
|
|
Revenue growth |
|
Organic
|
Total Bruker: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
69.2 |
|
20.9 |
|
(10.4) |
|
|
|
11.0% |
|
2.9% |
Three Months Ended |
|
|
26.3 |
|
11.1 |
|
(1.0) |
|
|
|
5.3% |
|
1.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bruker Scientific Instruments (3): |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
69.2 |
|
33.4 |
|
(9.2) |
|
|
|
14.3% |
|
5.1% |
Three Months Ended |
|
|
26.3 |
|
— |
|
(1.8) |
|
|
|
3.9% |
|
0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BEST, net of Intercompany Eliminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
— |
|
(12.5) |
|
(1.2) |
|
|
|
(19.4%) |
|
(17.7%) |
Three Months Ended |
|
|
— |
|
11.1 |
|
0.8 |
|
|
|
20.3% |
|
18.9% |
(1) We define the term acquisitions and divestitures revenue as GAAP revenue from M&A activities excluding the effect of changes in foreign currency translation rates. (2) We define the term organic revenue as GAAP revenue excluding the effect of changes in foreign currency translation rates and the effect of acquisitions and divestitures.
(3) Bruker Scientific Instruments (BSI) revenue reflects the sum of the BSI BioSpin, CALID and Nano Segments as presented in our Annual Report on Form 10-K for the year ended |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250507886016/en/
Director, Investor Relations
T: +1 (978) 313-5800
E: Investor.Relations@bruker.com
Source: