CINXE.COM

<div class="xbrl-content"> <h3>Quarterly report pursuant to Section 13 or 15(d)</h3> <div id="xbrl-menu-top"> <div class="navigation"> <ul class="xbrl-sf-menu"> <li> <a class="menu-item " href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3082">Cover</a> <ul class="submenu"> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3082">Document And Entity Information</a></li> </ul> </li> <li> <a class="menu-item " href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3083">Financial Statements</a> <ul class="submenu"> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3083">CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3084">CONDENSED CONSOLIDATED BALANCE SHEETS</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3085">CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3086">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</a></li> </ul> </li> <li> <a class="menu-item current" href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3087">Notes to Financial Statements</a> <ul class="submenu"> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3087">Basis of Presentation and Summary of Significant Accounting Policies</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3088">Revenue Recognition</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3089">Selected Balance Sheet Data</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3090">Acquisitions</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3091">Fair Value Measurements</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3092">Debt and Other Financing Arrangements</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3093">Leases</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3094">Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3095">Earnings Per Share</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3096">Share-based Compensation</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3097">Other Income / (Expense)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3098">Income Taxes</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3099">Segment Information</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3100">Subsequent Events</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3101">Pay vs Performance Disclosure</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3102">Insider Trading Arrangements</a></li> </ul> </li> <li> <a class="menu-item " href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3103">Accounting Policies</a> <ul class="submenu"> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3103">Basis of Presentation and Summary of Significant Accounting Policies (Policies)</a></li> </ul> </li> <li> <a class="menu-item " href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3104">Notes Tables</a> <ul class="submenu"> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3104">Basis of Presentation and Summary of Significant Accounting Policies (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3105">Revenue Recognition (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3106">Selected Balance Sheet Data (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3107">Acquisitions (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3108">Fair Value Measurements (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3109">Leases (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3110">Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3111">Earnings Per Share (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3112">Other Income / (Expense) (Tables)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3113">Segment Information (Tables)</a></li> </ul> </li> <li> <a class="menu-item " href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3114">Notes Details</a> <ul class="submenu"> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3114">Basis of Presentation and Summary of Significant Accounting Policies - Investments (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3115">Basis of Presentation and Summary of Significant Accounting Policies - Restructuring Charges (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3116">Revenue Recognition - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3117">Revenue Recognition - Disaggregation of Revenue (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3118">Selected Balance Sheet Data - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3119">Selected Balance Sheet Data - Inventories (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3120">Selected Balance Sheet Data - Property and Equipment (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3121">Selected Balance Sheet Data - Intangible Assets (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3122">Selected Balance Sheet Data - Changes to Carrying Amount of Net Intangible Assets (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3123">Selected Balance Sheet Data - Estimated Future Amortization Expense for Intangible Assets (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3124">Selected Balance Sheet Data - Changes in Carrying Amount of Goodwill (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3125">Selected Balance Sheet Data - Other Assets (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3126">Acquisitions - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3127">Acquisitions - Preliminary and Final Fair Value of Assets and Liabilities Assumed (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3128">Fair Value Measurements - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3129">Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3130">Fair Value Measurements - Contractual Amounts of the Outstanding Instruments (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3131">Fair Value Measurements - Pretax Amount Of The Gains And Losses On Our Hedging Instruments And The Classification Of Those Gains And Losses (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3132">Debt and Other Financing Arrangements - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3133">Leases - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3134">Leases - Balance Sheet Classification (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3135">Leases - Cash Paid (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3136">Leases - Fair Value of the Lease Liability by Payment Date (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3137">Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3138">Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information - Consolidated Changes in Equity (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3139">Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information - Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3140">Earnings Per Share - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3141">Earnings Per Share - Shares Used in the Earnings Per Share Computations (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3142">Share-based Compensation (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3143">Other Income / (Expense) - Narrative (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3144">Other Income / (Expense) - Schedule of Components of Other Income (Expense) (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3145">Income Taxes (Details)</a></li> <li><a href="https://investors.bio-techne.com/all-sec-filings/xbrl_doc_only/3146">Segment Information - Financial Information Relating to Reportable Segments (Details)</a></li> </ul> </li> </ul> </div> </div> <div class="spr-xbrl-document"> <h4>Revenue Recognition</h4> <title></title> v3.24.3<table class="report" border="0" cellspacing="2" id="idm45979235183536"> <tr> <th class="tl" colspan="1" rowspan="2"><div style="width: 200px;">Revenue Recognition </div></th> <th class="th" colspan="1">3 Months Ended</th> </tr> <tr><th class="th"><div>Sep. 30, 2024</div></th></tr> <tr class="re"> <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );">Notes to Financial Statements</a></td> <td class="text"> </td> </tr> <tr class="ro"> <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerTextBlock', window );">Revenue Recognition</a></td> <td class="text"> Note 2. Revenue Recognition: Consumables revenues consist of specialized proteins, immunoassays, antibodies, reagents, blood chemistry and blood gas quality controls, and hematology instrument controls that are typically single-use products recognized at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment. Instruments revenues typically consist of longer-lived assets that, for the substantial majority of sales, are recognized at a point in time in a manner similar to consumables. Service revenues consist of extended warranty contracts, post contract support, and custom development projects that are recognized over time as either the customers receive and consume the benefits of such services simultaneously or the underlying asset being developed has no alternative use for the Company at contract inception and the Company has an enforceable right to payment for the portion of the performance completed. Service revenues also include laboratory services recognized at point in time. We recognize royalty revenues in the period the sales occur using third party evidence. The Company elected the "right to invoice" practical expedient based on the Company's right to invoice a customer at an amount that approximates the value to the customer and the performance completed to date. The Company elected the exemption to not disclose the unfulfilled performance obligations for contracts with an original length of one year or less and the exemption to exclude future performance obligations that are accounted under the sales-based or usage-based royalty guidance. The Company’s unfulfilled performance obligations for contracts with an original length greater than one year were not material as of September 30, 2024. Contracts with customers that contain instruments may include multiple performance obligations. For these contracts, the Company allocates the contract’s transaction price to each performance obligation on a relative standalone selling price basis. Allocation of the transaction price is determined at the contracts’ inception. Payment terms for shipments to end-users are generally net 30 days. Payment terms for distributor shipments may range from 30 to 90 days. Service arrangements commonly call for payments in advance of performing the work (e.g. extended warranty and service contracts), upon completion of the service (e.g. custom development manufacturing) or a mix of both. Contract assets include revenues recognized in advance of billings. Contract assets are included within Other current assets in the accompanying balance sheet as the amount of time expected to lapse until the Company's right to consideration becomes unconditional is less than one year. We elected the practical expedient allowing us to expense contract costs that would otherwise be capitalized and amortized over a period of less than one year. Contract assets as of September 30, 2024 are not material. Contract liabilities include billings in excess of revenues recognized, such as those resulting from customer advances and deposits and unearned revenue on warranty contracts. Contract liabilities as of September 30, 2024 and June 30, 2024 were approximately $29.2 million and $30.2 million, respectively. Contract liabilities as of June 30, 2024 subsequently recognized as revenue during the quarter ended September 30, 2024 were approximately $11.8 million. Contract liabilities as of June 30, 2023 subsequently recognized as revenue during the quarter ended September 30, 2023 were approximately $11.8 million. Contract liabilities in excess of one year are included in Other long-term liabilities on the consolidated balance sheet. Any claims for credit or return of goods must be made within 10 days of receipt. Revenues are reduced to reflect estimated credits and returns. Although the amounts recorded for these revenue deductions are dependent on estimates and assumptions, historically our adjustments to actual results have not been material. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenue. Amounts billed to customers for shipping and handling are included in revenue, while the related shipping and handling costs are reflected in cost of products. We elected the practical expedient that allows us to account for shipping and handling activities that occur after the customer has obtained control of a good as a fulfillment cost, and we accrue costs of shipping and handling when the related revenue is recognized. The following tables present our disaggregated revenue for the periods presented. Revenue by type is as follows (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"> <tr style="height:1pt;"> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.72%;margin:0pt;padding:0pt;">Quarter Ended </td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">September 30, </td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;background:#cceeff;margin:0pt;padding:0pt;">Consumables</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 230,845</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 224,547</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;">Instruments</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 26,206</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 24,860</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;background:#cceeff;margin:0pt;padding:0pt;">Services</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 27,357</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 21,454</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;">Total product and services revenue, net</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 284,408</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 270,861</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;background:#cceeff;margin:0pt;padding:0pt;">Royalty revenues</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,050</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,074</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;">Total revenues, net</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 289,458</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 276,935</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> </table> Revenue by geography is as follows (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"> <tr style="height:1pt;"> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.72%;margin:0pt;padding:0pt;">Quarter Ended </td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">September 30, </td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;background:#cceeff;margin:0pt;padding:0pt;">United States</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 165,015</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 159,105</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;">EMEA, excluding United Kingdom</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 59,063</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 54,798</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;background:#cceeff;margin:0pt;padding:0pt;">United Kingdom</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 13,944</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 12,449</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;">APAC, excluding Greater China</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 18,122</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;margin:0pt;padding:0pt;"> 17,351</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;background:#cceeff;margin:0pt;padding:0pt;">Greater China</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 24,321</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;margin:0pt;padding:0pt;"> 25,485</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;margin:0pt;padding:0pt;">Rest of World</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 8,993</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7,747</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td> </tr> <tr> <td style="vertical-align:bottom;width:70.57%;background:#cceeff;margin:0pt;padding:0pt;">Net sales</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 289,458</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td> <td style="vertical-align:bottom;white-space:nowrap;width:8.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 276,935</td> <td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td> <td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td> </tr> </table> </td> </tr> </table> <div style="display: none;"> <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureTextBlockAbstract"> <tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr> <tr><td><div class="body" style="padding: 2px;"> <a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div>No definition available.</div> <a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0"> <tr> <td> Name:</td> <td style="white-space:nowrap;">us-gaap_DisclosureTextBlockAbstract</td> </tr> <tr> <td style="padding-right: 4px;white-space:nowrap;"> Namespace Prefix:</td> <td>us-gaap_</td> </tr> <tr> <td> Data Type:</td> <td>xbrli:stringItemType</td> </tr> <tr> <td> Balance Type:</td> <td>na</td> </tr> <tr> <td> Period Type:</td> <td>duration</td> </tr> </table></div> </div></td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerTextBlock"> <tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr> <tr><td><div class="body" style="padding: 2px;"> <a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div>The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.</div> <a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;">Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent </div> <a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0"> <tr> <td> Name:</td> <td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerTextBlock</td> </tr> <tr> <td style="padding-right: 4px;white-space:nowrap;"> Namespace Prefix:</td> <td>us-gaap_</td> </tr> <tr> <td> Data Type:</td> <td>dtr-types:textBlockItemType</td> </tr> <tr> <td> Balance Type:</td> <td>na</td> </tr> <tr> <td> Period Type:</td> <td>duration</td> </tr> </table></div> </div></td></tr> </table> </div> <div style="clear:both;"></div> </div> </div> <link rel="stylesheet" href="//investors.bio-techne.com/stylesheets/xbrl.css" type="text/css">