Bio-Techne (TECH) 10-Q 7 Feb 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2022	Feb. 01, 2023
Cover
Entity Central Index Key	0000842023
Entity Registrant Name	BIO-TECHNE Corp
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	0-17272
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1427402
Entity Address, Address Line One	614 McKinley Place N.E.
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55413
City Area Code	612
Local Phone Number	379-8854
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TECH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		157,275,200

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Condensed Consolidated Statements of Earnings and Comprehensive Income
Net sales	$ 271,581	$ 269,276	$ 541,236	$ 526,995
Cost of sales	88,221	85,585	178,280	172,307
Gross margin	183,360	183,691	362,956	354,688
Operating expenses:
Selling, general and administrative	93,010	100,693	192,386	186,868
Research and development	22,459	20,650	46,362	42,250
Total operating expenses	115,469	121,343	238,748	229,118
Operating income	67,891	62,348	124,208	125,570
Other income (expense)	(1,462)	23,831	45,938	27,992
Earnings before income taxes	66,429	86,179	170,146	153,562
Income taxes (benefit)	16,424	14,120	30,407	12,522
Net earnings, including noncontrolling interest	50,005	72,059	139,739	141,040
Net earnings (loss) attributable to noncontrolling interest		(8,114)	179	(8,748)
Net earnings attributable to Bio-Techne	50,005	80,173	139,560	149,788
Other comprehensive income (loss):
Foreign currency translation adjustments	17,370	1,924	(4,087)	(6,722)
Foreign currency translation reclassified to earnings with Eminence deconsolidation			119
Unrealized gains (losses) on derivative instruments - cash flow hedges, net of tax amounts disclosed in Note 8	(685)	2,884	4,010	4,566
Other comprehensive income (loss)	16,685	4,808	42	(2,156)
Other comprehensive income (loss) attributable to noncontrolling interest		66	(33)	27
Other comprehensive income (loss) attributable to Bio-Techne	16,685	4,742	75	(2,183)
Comprehensive income attributable to Bio-Techne	$ 66,690	$ 84,915	$ 139,635	$ 147,605
Earnings per share attributable to Bio-Techne(1):
Basic	$ 0.32	$ 0.51	$ 0.89	$ 0.95
Diluted	$ 0.31	$ 0.49	$ 0.86	$ 0.91
Weighted average common shares outstanding(1):
Basic	157,011	157,240	156,887	156,808
Diluted	161,750	164,828	161,766	164,636

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Earnings and Comprehensive Income (Parentheticals)	Nov. 29, 2022
Condensed Consolidated Statements of Earnings and Comprehensive Income
Stock dividend stock spilt	4

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 164,682	$ 172,567
Short-term available-for-sale investments	32,074	74,462
Accounts receivable, less allowance for doubtful accounts of $3,250 and $2,568, respectively	184,763	194,548
Inventories	160,233	141,123
Other current assets	23,431	22,856
Total current assets	565,183	605,556
Property and equipment, net	223,851	223,242
Right of use asset	83,937	65,556
Goodwill	869,589	822,101
Intangible assets, net	567,647	531,522
Other assets	53,194	46,828
Total assets	2,363,401	2,294,805
Current liabilities:
Trade accounts payable	24,100	33,865
Salaries, wages and related accruals	28,633	61,953
Accrued expenses	16,279	17,886
Contract liabilities	21,812	23,406
Income taxes payable	25,277	13,237
Operating lease liabilities - current	10,975	11,928
Current portion of long-term debt obligations		12,500
Other current liabilities	1,319	1,243
Total current liabilities	128,395	176,018
Deferred income taxes	111,381	98,994
Long-term debt obligations	200,000	243,410
Long-term contingent consideration payable	7,000	5,000
Operating lease liabilities	78,183	58,133
Other long-term liabilities	11,336	12,239
Bio-Techne's Shareholders' equity:
Undesignated capital stock, no par; authorized 5,000,000 shares; none issued or outstanding	0	0
Common stock, par value $.01 per share; authorized 400,000,000; issued and outstanding 157,093,879 and 156,644,212, respectively(1)	1,571	1,566
Additional paid-in capital(1)	700,684	652,467
Retained earnings(1)	1,199,976	1,122,937
Accumulated other comprehensive loss	(75,125)	(75,200)
Total Bio-Techne's shareholders' equity	1,827,106	1,701,770
Noncontrolling interest		(759)
Total shareholders' equity	1,827,106	1,701,011
Total liabilities and shareholders' equity	$ 2,363,401	$ 2,294,805

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) $ in Thousands	Dec. 31, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares
Condensed Consolidated Balance Sheets
Accounts receivable, allowance for doubtful accounts | $	$ 3,250	$ 2,568
Undesignated capital stock, no par (in dollars per share) | $ / shares	$ 0	$ 0
Undesignated capital stock, shares authorized (in shares)	5,000,000	5,000,000
Undesignated capital stock, shares issued (in shares)	0	0
Undesignated capital stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	157,093,879	156,644,212
Common stock, shares outstanding (in shares)	157,093,879	156,644,212

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings, including noncontrolling interest	$ 139,739	$ 141,040
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	53,344	49,836
Costs recognized on sale of acquired inventory	400	1,596
Deferred income taxes	(6,365)	7,233
Stock-based compensation expense	31,205	25,706
Fair value adjustment to contingent consideration payable	(8,600)	(16,400)
Contingent consideration payments - operating		(3,300)
(Gain) Loss on investment, net	(37,176)
Fair value adjustment on available for sale investments	(839)	(33,672)
Asset impairment restructuring	0	546
Eminence impairment		18,715
Gain on sale of Eminence	(11,682)	0
Leases, net	640	(501)
Other operating activity	112	383
Change in operating assets and operating liabilities, net of acquisition:
Trade accounts and other receivables, net	11,425	(9,347)
Inventories	(18,362)	(8,700)
Prepaid expenses	(2,005)	(7,025)
Trade accounts payable, accrued expenses, contract liabilities, and other	(11,541)	(175)
Salaries, wages and related accruals	(33,265)	(10,408)
Income taxes payable	13,435	(6,100)
Net cash provided by (used in) operating activities	120,465	149,427
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities of available-for-sale investments	26,509	12,450
Purchases of available-for-sale investments	(20,500)	(13,500)
Proceeds from sale of CCXI investment	73,219
Additions to property and equipment	(15,665)	(16,238)
Acquisitions, net of cash acquired	(101,184)
Proceeds from sale of Eminence	17,824
Investment of forward purchase contract		(25,000)
Net cash provided by (used in) investing activities	(19,797)	(42,288)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends	(25,106)	(25,069)
Proceeds from stock option exercises	16,977	56,500
Re-purchases of common stock	(19,562)	(41,294)
Borrowings under line-of-credit agreement	449,661	50,000
Repayments of long-term debt	(505,661)	(109,250)
Contingent consideration payments - financing	0	(700)
Taxes paid on RSUs and net share settlements	(17,853)	(23,247)
Other financing activity	(2,457)
Net cash provided by (used in) financing activities	(104,001)	(93,060)
Effect of exchange rate changes on cash and cash equivalents	(4,552)	(1,325)
Net change in cash and cash equivalents	(7,885)	12,754
Cash and cash equivalents at beginning of period	172,567	199,091
Cash and cash equivalents at end of period	164,682	211,845
Supplemental disclosure of cash flow information:
Cash paid for income taxes	26,411	15,368
Cash paid for interest	$ 5,619	$ 6,144

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Basis of Presentation and Summary of Significant Accounting Policies	Note 1. Basis of Presentation and Summary of Significant Accounting Policies: The interim consolidated financial statements of Bio-Techne Corporation and subsidiaries, (the Company) presented here have been prepared by the Company and are unaudited. They have been prepared in accordance with accounting principles generally accepted in the United States of America and with instructions to Form 10-Q and Article 10 of Regulation S-X. They reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company's Consolidated Financial Statements and Notes thereto for the fiscal year ended June 30, 2022, included in the Company's Annual Report on Form 10-K for fiscal 2022. A summary of significant accounting policies followed by the Company is detailed in the Company's Annual Report on Form 10-K for fiscal 2022. The Company follows these policies in preparation of the interim unaudited condensed consolidated financial statements. During the quarter ended December 31, 2022, the Company operated under two operating segments, Protein Sciences and Diagnostics and Genomics. The operating segments the Company operated under were consistent with the Company's operating segments disclosed in the Company's Annual Report on Form 10-K for fiscal 2022. At the 2022 annual meeting of shareholders of the Company held on October 27, 2022, the shareholders approved an amendment and restatement of the Company’s articles of incorporation to increase the number of authorized shares of the Company’s common stock from 100,000,000 to 400,000,000. On November 1, 2022, the Company’s board of directors approved and declared a four-for-one split of the Company’s common stock in the form of a stock dividend. Each stockholder of record on November 14, 2022 received three additional shares of common stock for each then-held share, which was distributed after close of trading on November 29, 2022. All share and per share amounts presented herein have been retroactively adjusted to reflect the impact of the stock split. Partially-owned consolidated subsidiary Investments The first part of the forward contract is triggered upon Wilson Wolf achieving approximately $92 million in annual revenue or $55 million in annual earnings before interest, taxes, depreciation, and amortization (EBITDA) at any point prior to December 31, 2027. Once triggered, the Company is required to make a payment of $231 million in exchange for a 19.9% ownership stake. If Wilson Wolf doesn’t achieve the revenue and EBITDA targets by December 31, 2027, the agreement will expire. Once the first part of the forward contract is triggered, the second part of the forward contract will automatically trigger, and requires the Company to acquire the remaining equity interest in Wilson Wolf on December 31, 2027 based on a revenue multiple. The second part of the contract would be accelerated in advance of December 31, 2027, if Wilson Wolf meets its second milestone of approximately $226 million in annual revenue or $136 million in annual EBITDA. If the second milestone is achieved, the forward contract requires the Company to pay approximately $1 billion plus potential consideration for revenue in excess of the revenue milestone. The approximate multiple for total expected payments of the second forward contract is 4.4 times the annual revenue of Wilson Wolf. The Company has elected to apply the measurement alternative as detailed under ASC 321-10-35-2 for the Wilson Wolf investment. The Company recorded the $25 million payment as a cost basis investment within Other long-term assets on the Consolidated Balance Sheet. Restructuring actions Fiscal Year 2023 Restructuring Actions: QT Holdings Corporation (Quad) In August 2022, the Company informed employees of our decision to close our QT Holdings Corporation (Quad) facility as part of a realignment of activities within our Reagent Solutions division. The closure of the site is expected to be substantially completed in the third quarter of fiscal 2023. As a result of the restructuring activities, an estimated pre-tax charge of $2.2 million was recorded within our Protein Sciences segment for the six months ended December 31, 2022. There were no additional charges for the second fiscal quarter ended December 31, 2022. The related first quarter of fiscal 2023 restructuring charges were recorded in the income statement as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Selling, general and administrative ​ $ 1,328 ​ $ 842 ​ $ 2,170 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Expense incurred in the first quarter of 2023 ​ $ 1,328 ​ $ 842 ​ $ 2,170 Cash payments ​ ​ (420) ​ ​ (431) ​ ​ (851) Adjustments ​ ​ — ​ ​ (72) ​ ​ (72) Accrued restructuring actions balances as of September 30, 2022 ​ ​ 908 ​ ​ 339 ​ ​ 1,247 Cash payments ​ ​ (753) ​ ​ (262) ​ ​ (1,015) Adjustments ​ ​ (38) ​ ​ (73) ​ ​ (111) Accrued restructuring actions balances as of December 31, 2022 ​ $ 117 ​ $ 4 ​ $ 121 ​ ​ Protein Sciences realignment In December 2022, the Company informed employees it would undertake certain actions to strategically reallocate resources to high growth areas of the business. The realignment impacted a limited number of employees and is expected to be complete in the third fiscal quarter of 2023. As a result, a pre-tax charge of $0.8 million related to employee severance was recorded in the Selling, general and administrative line of operating income within our Protein Sciences segment during the quarter ended December 31, 2022. ​ Restructuring actions, including cash and non-cash impacts, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ severance Expense incurred in the second quarter of 2023 ​ $ 780 Cash payments ​ ​ (176) Adjustments ​ ​ — Accrued restructuring actions balances as of December 31, 2022 ​ $ 604 ​ ​ Fiscal Year 2022 Restructuring Actions: ​ In September 2021, the Company informed employees of our decision to close our Exosome Diagnostics Germany facility, discontinuing lab and research occurring at the site, as part of a realignment of activities within our Exosome Diagnostics business. The restructuring activities were completed as of June 30, 2022. As a result of the restructuring activities, a pre-tax charge of $1.4 million was recorded within our Diagnostics and Genomics segment during the year ended June 30, 2022. Total restructuring charges for the closure of the Exosome Diagnostics Germany facility for the year ended June 30, 2022 were recorded within operating income on the income statement as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Selling, general and administrative ​ $ 649 ​ $ 750 ​ $ 1,399 ​ ​ Restructuring actions, including cash and non-cash impacts, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Expense incurred in the first quarter of 2022 ​ $ 639 ​ $ 546 ​ $ 1,185 Incremental expense incurred during fiscal 2022 ​ ​ — ​ ​ 242 ​ ​ 242 Cash payments ​ ​ (589) ​ ​ (554) ​ ​ (1,143) Adjustments (1) ​ ​ (50) ​ ​ (234) ​ ​ (284) Accrued restructuring actions balances as of June 30, 2022 ​ $ — ​ $ — ​ $ — ​ (1) Recently Adopted Accounting Pronouncements There were no accounting pronouncements adopted in the quarter ended December 31, 2022. Refer to the Form 10-K for accounting pronouncements adopted prior to June 30, 2022.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Revenue Recognition	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. Prior to fiscal year 2021, the Company had not recognized revenue upon completion of the performance obligation for laboratory services, but rather upon cash receipt, which was subsequent to the performance obligation being satisfied. The Company accounted for these services based on cash receipts as we did not have significant historical experience collecting payments from Medicare or other insurance providers and considered the variable consideration for such services to be constrained as it would not be probable that a significant amount of revenue would not need to be reversed in future periods for the services provided. Given Medicare coverage for our laboratory services became effective on December 1, 2019, the Company considered it to have sufficient data to estimate variable consideration as of July 1, 2020 for laboratory services that are reimbursed by Medicare. The amount of cash received in fiscal 2021 for laboratory services reimbursed by Medicare that were performed prior to July 1, 2020 was approximately $0.5 million. Prior to fiscal year 2023, the Company recorded revenue based on cash receipts for laboratory services not reimbursed by Medicare, as the variable consideration was constrained since we did not have significant historical experience collecting payments not reimbursed by Medicare or other insurance providers and it would not be probable that a significant amount of revenue would not need to be reversed in future periods for the services provided. During the first half of fiscal 2022, we began to see an increase in claim volume due to strategic initiatives, including broader messaging around the importance of cancer screenings during the COVID-19 pandemic, and the acute phase of the COVID-19 pandemic subsiding. Given these factors, the Company considered it to have sufficient data to estimate variable consideration as of July 1, 2022 for laboratory services that are not reimbursed by Medicare. The amount of cash received in fiscal 2023 for non-Medicare laboratory services that were performed prior to July 1, 2022 was approximately $0.8 million. 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 December 31, 2022. 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 December 31, 2022 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 December 31, 2022 and June 30, 2022 were approximately $23.5 million and $25.5 million, respectively. Contract liabilities as of June 30, 2022 subsequently recognized as revenue during the quarter and six month period ended 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Consumables ​ $ 217,330 ​ $ 212,706 ​ $ 433,760 ​ $ 418,397 Instruments ​ 32,301 ​ 33,353 ​ 58,759 ​ 63,222 Services ​ 15,852 ​ 17,354 ​ 37,297 ​ 33,611 Total product and services revenue, net ​ $ 265,483 ​ $ 263,413 ​ $ 529,816 ​ $ 515,230 Royalty revenues ​ 6,098 ​ 5,863 ​ 11,420 ​ 11,765 Total revenues, net ​ $ 271,581 ​ $ 269,276 ​ $ 541,236 ​ $ 526,995 ​ Revenue by geography is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 ​ ​ ​ ​ ​ ​ United States ​ $ 149,005 ​ $ 142,367 ​ $ 304,436 ​ $ 283,069 EMEA, excluding United Kingdom ​ 54,523 ​ 57,159 ​ 100,544 ​ 108,702 United Kingdom ​ 10,872 ​ 11,842 ​ 22,574 ​ 24,320 APAC, excluding Greater China ​ 17,968 ​ 19,603 ​ 35,433 ​ 37,104 Greater China ​ 30,326 ​ 31,009 ​ 61,847 ​ 59,442 Rest of World ​ 8,887 ​ 7,296 ​ 16,402 ​ 14,358 Net Sales ​ $ 271,581 ​ $ 269,276 ​ $ 541,236 ​ $ 526,995 ​

Selected Balance Sheet Data

Selected Balance Sheet Data	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Selected Balance Sheet Data	​ ​ Note 3. Selected Balance Sheet Data: Inventories: Inventories consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ 2022 2022 ​ ​ ​ ​ ​ ​ ​ Raw materials ​ $ 84,757 ​ $ 79,291 Finished goods (1) ​ 80,548 ​ 66,943 Inventories, net ​ $ 165,305 ​ $ 146,234 ​ (1) Finished goods inventory of $5,072 and $5,111 included within other long-term assets in the respective December 31, 2022 and June 30, 2022, consolidated balance sheet. The inventory is included in long-term assets as it is forecasted to be sold after the 12 months subsequent to the consolidated balance sheet date. Property and Equipment: Property and equipment consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ 2022 2022 Land ​ $ 9,079 ​ $ 8,572 Buildings and improvements ​ 242,340 ​ 229,551 Machinery and equipment ​ ​ 182,306 ​ ​ 174,813 Construction in progress ​ 13,469 ​ 21,729 Property and equipment, cost ​ 447,194 ​ 434,665 Accumulated depreciation and amortization ​ (223,343) ​ (211,423) Property and equipment, net ​ $ 223,851 ​ $ 223,242 ​ Intangible Assets: Intangible assets consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ ​ 2022 ​ 2022 ​ ​ ​ ​ ​ ​ ​ Developed technology ​ $ 615,301 ​ $ 542,038 Trade names ​ 146,618 ​ 146,457 Customer relationships ​ 224,212 ​ 225,882 Patents ​ 3,514 ​ 3,313 Other intangibles ​ 6,894 ​ 6,306 Definite-lived intangible assets ​ 996,539 ​ 923,996 Accumulated amortization ​ (451,592) ​ (415,174) Definite-lived intangibles assets, net ​ 544,947 ​ 508,822 In process research and development ​ 22,700 ​ 22,700 Total intangible assets, net ​ $ 567,647 ​ $ 531,522 ​ ​ Changes to the carrying amount of net intangible assets for the period ended December 31, 2022 consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 531,522 Acquisitions ​ 75,600 Other additions ​ 713 Amortization expense ​ (38,861) Currency translation ​ ​ (1,327) Ending balance ​ $ 567,647 ​ The estimated future amortization expense for intangible assets as of December 31, 2022 is as follows (in thousands): ​ ​ ​ ​ ​ Remainder 2023 $ 38,462 2024 ​ 74,764 2025 ​ 71,341 2026 ​ 67,478 2027 ​ 57,326 Thereafter ​ 235,576 Total ​ $ 544,947 ​ Goodwill: ​ Changes to the carrying amount of goodwill for the period ended December 31, 2022 consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics and ​ ​ ​ Protein Sciences ​ Genomics ​ Total June 30, 2022 ​ $ 376,493 ​ $ 445,608 ​ $ 822,101 Acquisitions ​ 51,051 ​ ​ - ​ ​ 51,051 Currency translation ​ (3,623) ​ ​ 60 ​ ​ (3,563) December 31, 2022 ​ $ 423,921 ​ $ 445,668 ​ $ 869,589 ​ We evaluate the carrying value of goodwill in the fourth quarter of each fiscal year and between annual evaluations if events occur or circumstances change that would indicate a possible impairment. The Company performed a quantitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2022. No indicators of impairment were identified as part of our assessment.

Acquisitions

Acquisitions	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Acquisitions	​ ​ Note 4. Acquisitions: We periodically complete business combinations that align with our business strategy. Acquisitions are accounted for using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at fair value as of the acquisition date and that the results of operations of each acquired business be included in our consolidated statements of comprehensive income from their respective dates of acquisitions. Acquisition costs are recorded in selling, general and administrative expenses as incurred. Fiscal year 2023 Acquisitions Namocell, Inc. On July 1, 2022, the Company acquired all of the ownership interests of Namocell, Inc. for $101.2 million, net of cash acquired, plus contingent consideration of up to $25 million upon the achievement of certain future revenue thresholds. The Namocell acquisition adds easy-to-use single cell sorting and dispensing platforms that are gentle to cells and preserve cell viability and integrity. The transaction was accounted for in accordance with ASC 805, Business Combinations ​ The allocation of purchase consideration related to Namocell, Inc is considered preliminary with provisional amounts primarily related to goodwill, intangible assets, working capital, certain tax-related, and contingent liability amounts. The Company expects to finalize the allocation of purchase price within the one-year measurement-period following the acquisition. Net sales and operating loss of this business included in Bio-Techne's consolidated results of operations for the quarter ended December 31, 2022 ​ The preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date and as of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Preliminary allocation at acquisition date and at December 31, 2022 Current assets, net of cash $ 3,248 Equipment and other long-term assets 405 Intangible assets: ​ ​ Developed technologies 73,900 Tradenames 700 Customer relationships 900 Non-competition agreement 100 Goodwill 51,051 Total assets acquired 130,304 ​ ​ ​ Liabilities 546 Deferred income taxes, net 17,974 Net assets acquired $ 111,784 ​ ​ ​ Cash paid, net of cash acquired 101,184 Contingent consideration payable 10,600 Net assets acquired $ 111,784 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tangible assets and liabilities acquired were recorded at fair value on the date of close based on management's preliminary assessment. The purchase price allocated to developed technology was based on management’s preliminary forecasted cash inflows and outflows and using a relief from royalty method to calculate the fair value of assets purchased. The purchase price allocated to customer relationships and trade names was based on management's preliminary forecasted cash inflows and outflows and using a multiperiod excess earnings method. The amount recorded for developed technology is being amortized with the expense reflected in cost of goods sold in the Condensed Consolidated Statement of Earnings and Comprehensive Income. The amortization period for developed technology is estimated to be 13 years . Amortization expense related to customer relationships is reflected in selling, general and administrative expenses in the Condensed Consolidated Statement of Earnings and Comprehensive Income. The amortization period for customer relationships is estimated to be 4 years . The amount recorded for trade names and the non-competition agreement is being amortized with the expense reflected in selling, general and administrative expenses in the Condensed Consolidated Statement of Earnings and Comprehensive Income. The amortization period for both trade names and the non-competition agreement is estimated to be 3 years . The net deferred income tax liability represents the net amount of the estimated future impact of adjustments for costs to be recognized as intangible asset amortization, which is not deductible for income tax purposes, offset by the deferred tax asset for the preliminary calculation of acquired net operating losses.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Fair Value Measurements	Note 5 . Fair Value Measurements: The Company’s financial instruments include cash and cash equivalents, available for sale investments, derivative instruments, accounts receivable, accounts payable, contingent consideration obligations, and long-term debt. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. This standard also establishes a hierarchy for inputs used in measuring fair value. This standard maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability based on market data obtained from independent sources. Unobservable inputs are inputs that reflect our assumptions about the factors market participants would use in valuing the asset or liability based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three levels. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable for the asset or liability and their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. Level 3 may also include certain investment securities for which there is limited market activity or a decrease in the observability of market pricing for the investments, such that the determination of fair value requires significant judgment or estimation. ​ The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ Fair Value Measurements Using ​ ​ December 31, ​ Inputs Considered as ​ ​ 2022 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ Exchange traded securities (1) ​ $ 23,574 ​ $ 23,574 ​ $ — ​ $ — Certificates of deposit (2) ​ 8,500 ​ 8,500 ​ — ​ — Derivative instruments - cash flow hedges (3) ​ 15,791 ​ — ​ 15,791 ​ — Total assets ​ $ 47,865 ​ $ 32,074 ​ $ 15,791 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ Contingent consideration ​ $ 7,000 ​ $ — ​ $ — ​ $ 7,000 Total liabilities ​ $ 7,000 ​ $ — ​ $ — ​ $ 7,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ Fair Value Measurements Using ​ ​ June 30, ​ Inputs Considered as ​ 2022 Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ Exchange traded securities (1) ​ $ 59,962 ​ $ 59,962 ​ $ — ​ $ — Certificates of deposit (2) ​ 14,500 ​ 14,500 ​ — ​ — Derivative instruments - cash flow hedges (3) ​ 11,026 ​ — ​ 11,026 ​ — Total assets ​ $ 85,488 ​ $ 74,462 ​ $ 11,026 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ Contingent consideration ​ $ 5,000 ​ $ — ​ $ — ​ $ 5,000 Derivative instruments - cash flow hedges (3) ​ 476 ​ — ​ 476 ​ — Total liabilities ​ $ 5,476 ​ $ — ​ $ 476 ​ $ 5,000 ​ (1) Included in available-for-sale investments on the balance sheet. The cost basis and fair value of the exchange traded investment grade bond funds as of December 31, 2022 was $25.0 million and $23.6 million, respectively. The cost basis and fair value of the exchange traded investment grade bond funds as of June 30, 2022 was $25.0 million and $23.9 million, respectively. ​ (2) Included in available-for-sale investments on the balance sheet. The certificates of deposit have contractual maturity dates within one year. ​ (3) Derivative assets are included in other assets on the balance sheet as of December 31, 2022 and June 30, 2022. Derivative liabilities as of June 30, 2022 are included in other current liabilities on the balance sheet. ​ Fair value measurements of available for sale securities Our available for sale securities are measured at fair value using quoted market prices in active markets for identical assets and are therefore classified as Level 1 assets. ​ Fair value measurements of derivative instruments In October 2018, the Company entered into forward starting swaps designated as cash flow hedges on outstanding debt. The agreement matured in October 2022 and there was no fair value recorded on the Consolidated Balance Sheet as of December 31, 2022. The fair value of the designated derivative instrument was $0.5 million, and was recorded within short-term liabilities on the Consolidated Balance Sheet as of June 30, 2022. In May 2021, the Company entered into a new forward starting swap designated as a cash flow hedge on forecasted debt. The forward starting swap reduces the variability of cash flow payments for the Company by converting the variable interest rate on the Company’s forecasted variable interest long-term debt to that of a fixed interest rate. Accordingly, as part of the forward starting swap, the Company exchanges, at specified intervals, the difference between floating and fixed interest amounts based on $200 million of notional principal amount. The effective date of the swap was November 2022 with the full swap maturing in November 2025. The fair value of the derivative instrument was $15.8 million and $11.0 million as of December 31, 2022 and June 30, 2022, respectively, which is recorded within other long-term assets on the Consolidated Balance Sheet. Changes in the fair value of the designated hedged instruments are reported as a component of other comprehensive income and reclassified into interest expense over the corresponding term of the cash flow hedge. The Company reclassified $0.6 million to interest income and related tax expense of $0.1 million during the six months ended December 31, 2022. The Company reclassified $3.8 million to interest expense and related tax benefits of $0.9 million during the six months ended . Fair value measurements of contingent consideration The Company has $7.0 million in contingent consideration recorded as of December 31, 2022, which is the fair value of contingent consideration related to the Asuragen and Namocell acquisitions. The Company is required to make contingent consideration payments of up to $105.0 million as part of the Asuragen acquisition agreement and up to $25.0 million as part of the Namocell acquisition agreement. As of December 31, 2022, the maximum payout for the Asuragen and Namocell agreements is $100.0 million as both Asuragen and Namocell did not achieve their respective December 31, 2022 revenue milestones. ​ The Asuragen contingent agreement is based on achieving certain revenue thresholds by December 31, 2022 and December 31, 2023. The opening balance sheet fair value of the liabilities was $18.3 million, which was determined using a Monte Carlo simulation-based model discounted to present value. Assumptions used in these calculations are units sold, expected revenue, expected expenses, discount rate, and various probability factors. The Company reversed an accrual for the fair value of the contingent liabilities associated with the December 31, 2022 threshold during the second quarter of fiscal 2023. The contingent consideration related to the December 31, 2023 Asuragen threshold was $4.0 million as of December 31, 2022. Contingent consideration was $5.0 million as of June 30, 2022. ​ The Namocell contingent agreement is based on achieving certain revenue thresholds by December 31, 2022 and December 31, 2023. The opening balance sheet fair value of the liabilities was $10.6 million, which was determined using a Monte Carlo simulation-based model discounted to present value. Assumptions used in these calculations are units sold, expected revenue, expected expenses, discount rate, and various probability factors. The Company reversed an accrual for the fair value of the contingent liabilities associated with the December 31, 2022 threshold during the second quarter of fiscal 2023. As of December 31, 2022, the remaining contingent consideration related to Namocell was $3.0 million. ​ As of December 31, 2022 , ​ The ultimate settlement of contingent consideration liabilities could deviate from current estimates based on the actual results of the financial measures described above. This liability is considered to be a Level 3 financial liability that is re-measured each reporting period. The change in fair value of contingent consideration for these acquisitions is included in general and administrative expense. The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ ​ 2022 ​ 2022 ​ ​ ​ ​ ​ ​ ​ Fair value at the beginning of period ​ $ 15,500 ​ $ 5,000 Change in fair value of contingent consideration ​ (8,500) ​ (8,600) Additions ​ — ​ 10,600 Payments ​ — ​ — Fair value at the end of period ​ $ 7,000 ​ $ 7,000 ​ The use of different assumptions, applying different judgment to matters that inherently are subjective and changes in future market conditions could result in different estimates of fair value of our securities or contingent consideration, currently and in the future. If market conditions deteriorate, we may incur impairment charges for securities in our investment portfolio. Fair value measurements of other financial instruments Cash and cash equivalents, certificates of deposit, accounts receivable, and accounts payable – The carrying amounts reported in the consolidated balance sheets approximate fair value because of the short-term nature of these items. Long-term debt – The carrying amounts reported in the consolidated balance sheets for the amount drawn on our line-of-credit facility and long-term debt approximates fair value because our interest rate is variable and reflects current market rates.

Debt and Other Financing Arrang

Debt and Other Financing Arrangements	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Debt and Other Financing Arrangements	Note 6. Debt and Other Financing Arrangements: On August 31, 2022, the Company entered into an amended and restated Credit Agreement (the Amended Credit Agreement). This replaced the revolving line-of-credit and term loan (the prior Credit Agreement), which provided for a revolving credit facility of $600.0 million and could be increased by an additional $200.0 million subject to certain conditions, and a term loan of $250.0 million. The prior Credit Agreement was bearing interest at a variable rate and would have matured on August 1, 2023. The Amended Credit Agreement provides for a revolving credit facility of $1 billion, which can be increased by an additional $400 million subject to certain conditions. Borrowings under the Amended Credit Agreement may be used for working capital and expenditures of the Company and its subsidiaries, including financing permitted acquisitions. At the closing on August 31, 2022, the Company borrowed approximately $350 million pursuant to the Amended Credit Agreement for working capital and for payment of outstanding debt under the Company’s prior credit agreement that was entered into on August 1, 2018. Borrowings under the Amended Credit Agreement bear interest at a variable rate. The current outstanding debt is based on the one-month Secured Overnight Financing rate (SOFR) plus an applicable margin. The applicable margin is determined from the total leverage ratio of the Company and updated on a quarterly basis. The annualized fee for any unused portion of the credit facility is currently 10 basis points. The amended and restated Credit Agreement matures on August 1, 2027 and contains customary restrictive and financial covenants and customary events of default. As of December 31, 2022, the outstanding balance under the Credit Agreement was $200.0 million. ​ ​

Leases

Leases	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Leases	Note 7. Leases: As a lessee, the company leases offices, labs, and manufacturing facilities, as well as vehicles, copiers, and other equipment. The Company adopted ASU No. 2016-02 and related standards (collectively ASC 842, Leases The Company recognizes operating lease expense on a straight-line basis over the lease term. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The discount rate used to calculate present value is Bio-Techne’s incremental borrowing rate or, if available, the rate implicit in the lease. Bio-Techne determines the incremental borrowing rate for each lease based primarily on its lease term and the economic environment of the applicable country or region. During the six months ended December 31, 2022, the Company recognized $2.0 million in variable lease expense and $7.1 million relating to fixed lease expense in the Condensed Consolidated Statements of Earnings and Comprehensive Income. The following table summarizes the balance sheet classification of the Company’s operating leases and amounts of right of use assets and lease liabilities and the weighted average remaining lease term and weighted average discount rate for the Company’s operating leases (asset and liability amounts are in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ ​ ​ ​ December 31, ​ ​ Balance Sheet Classification ​ 2022 Operating leases: ​ ​ ​ Operating lease right of use assets ​ Right of Use Asset ​ $ 83,937 ​ ​ ​ ​ ​ ​ ​ ​ Current operating lease liabilities ​ Operating lease liabilities current ​ $ 10,975 Noncurrent operating lease liabilities ​ Operating lease liabilities ​ 78,183 Total operating lease liabilities ​ ​ ​ ​ $ 89,158 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years): ​ ​ ​ 9.77 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate (%): ​ ​ ​ 4.23 ​ The following table summarizes the cash paid for amounts included in the measurement of operating lease liabilities and right of use assets obtained in exchange for new operating lease liabilities for the six months ended December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ December 31, ​ 2022 Cash amounts paid on operating lease liabilities ​ $ 7,294 ​ ​ ​ ​ Right of use assets obtained in exchange for lease liabilities ​ 26,553 ​ ​ The following table summarizes the fair value of the lease liability by payment date for the Company’s operating leases by fiscal year (in thousands): ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Operating ​ ​ Leases Remainder 2023 ​ $ 7,237 2024 ​ 13,236 2025 ​ 12,328 2026 ​ 11,211 2027 ​ 9,524 Thereafter ​ 57,035 Total ​ $ 110,571 Less: Amounts representing interest ​ 21,413 Total Lease obligations ​ $ 89,158 ​ Certain leases include one or more options to renew, with terms that extend the lease term up to five years. Bio-Techne includes the option to renew the lease as part of the right of use lease asset and liability when it is reasonably certain the Company will exercise the option. In addition, certain leases contain fair value purchase and termination options with an associated penalty. In general, Bio-Techne is not reasonably certain to exercise such options.

Supplemental Equity and Accumul

Supplemental Equity and Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Supplemental Equity and Accumulated Other Comprehensive Income (Loss)	​ ​ Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (Loss): Supplemental Equity The Company has declared cash dividends per share of $0.08 and $0.16 in both the three and six months ended December 31, 2022 and 2021, respectively. Consolidated Changes in Equity (amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bio-Techne Shareholders ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ Paid-in ​ Retained ​ Comprehensive ​ Noncontrolling ​ ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Interest ​ Total Balances at June 30, 2022 156,644 ​ ​ 1,566 ​ ​ 652,467 ​ ​ 1,122,937 ​ ​ (75,200) ​ ​ (759) ​ ​ 1,701,011 Net earnings ​ ​ ​ ​ ​ ​ ​ 89,555 ​ ​ ​ 179 ​ 89,734 Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ (16,762) ​ ​ ​ (16,762) Reclassification of cumulative translation adjustment for Eminence to non-operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 152 ​ ​ (33) ​ ​ 119 Elimination of noncontrolling equity interest from sale of Eminence ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 613 ​ 613 Share repurchases (222) ​ (2) ​ ​ ​ (19,560) ​ ​ ​ ​ ​ (19,562) Common stock issued for exercise of options 425 ​ 5 ​ 9,418 ​ (11,428) ​ ​ ​ ​ ​ (2,005) Common stock issued for restricted stock awards 45 ​ ​ 0 ​ 0 ​ (6,427) ​ ​ ​ ​ ​ (6,427) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,545) ​ ​ ​ ​ ​ (12,545) Stock-based compensation expense ​ ​ ​ ​ 14,364 ​ ​ ​ ​ ​ ​ ​ 14,364 Common stock issued to employee stock purchase plan 36 ​ ​ 0 ​ 2,517 ​ ​ ​ ​ ​ ​ ​ 2,517 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 97 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 97 Balances at September 30, 2022 156,928 ​ $ 1,569 ​ $ 678,863 ​ $ 1,162,532 ​ $ (91,810) ​ $ — ​ $ 1,751,154 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 50,005 ​ ​ ​ ​ ​ ​ ​ 50,005 Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,685 ​ ​ ​ ​ ​ 16,685 Share repurchases ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Common stock issued for exercise of options 155 ​ ​ 1 ​ ​ 5,074 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5,075 Common stock issued for restricted stock awards 11 ​ ​ 1 ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 Cash dividends ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,561) ​ ​ ​ ​ ​ ​ ​ (12,561) Stock-based compensation expense ​ ​ ​ ​ ​ ​ 16,413 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,413 Common stock issued to employee stock purchase plan ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 333 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 333 Balances at December 31, 2022 157,094 ​ $ 1,571 ​ $ 700,684 ​ $ 1,199,976 ​ $ (75,125) ​ $ — ​ $ 1,827,106 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bio-Techne Shareholders ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ Paid-in ​ Retained ​ Comprehensive ​ Noncontrolling ​ ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Interest ​ Total Balances at June 30, 2021 155,822 ​ $ 1,558 ​ $ 533,239 ​ $ 1,085,465 ​ $ (57,291) ​ $ 8,263 ​ $ 1,571,234 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 69,615 ​ ​ ​ ​ ​ (634) ​ ​ 68,981 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (6,925) ​ (39) ​ (6,964) Common stock issued for exercise of options 1,178 ​ 12 ​ 36,336 ​ (13,481) ​ ​ ​ ​ ​ 22,867 Common stock issued for restricted stock awards 79 ​ 1 ​ (1) ​ (9,765) ​ ​ ​ ​ ​ (9,765) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,493) ​ ​ ​ ​ ​ (12,493) Stock-based compensation expense ​ ​ ​ ​ ​ 11,396 ​ ​ ​ ​ ​ ​ ​ 11,396 Common stock issued to employee stock purchase plan 13 ​ 0 ​ 1,358 ​ ​ ​ ​ ​ ​ ​ 1,358 Employee stock purchase plan expense ​ ​ ​ ​ ​ 341 ​ ​ ​ ​ ​ ​ ​ 341 Balances at September 30, 2021 157,092 ​ $ 1,571 ​ $ 582,669 ​ $ 1,119,341 ​ $ (64,216) ​ $ 7,590 ​ $ 1,646,955 Non-controlling interest in Eminence ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 80,173 ​ ​ ​ (8,114) ​ 72,059 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,742 ​ 66 ​ 4,808 Share repurchases ​ (357) ​ ​ (4) ​ ​ ​ ​ ​ (41,290) ​ ​ ​ ​ ​ ​ ​ ​ (41,294) Common stock issued for exercise of options 538 ​ 6 ​ 18,599 ​ ​ ​ ​ ​ ​ ​ ​ ​ 18,605 Common stock issued for restricted stock awards 6 ​ 0 ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ ​ ​ 0 Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,576) ​ ​ ​ ​ ​ ​ ​ (12,576) Stock-based compensation expense ​ ​ ​ ​ ​ 13,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ 13,701 Common stock issued to employee stock purchase plan ​ ​ ​ ​ ​ ​ ​ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6 Employee stock purchase plan expense ​ ​ ​ ​ ​ 267 ​ ​ ​ ​ ​ ​ ​ ​ ​ 267 Balances at December 31, 2021 157,279 ​ $ 1,573 ​ $ 615,242 ​ $ 1,145,648 ​ $ (59,474) ​ $ (458) ​ $ 1,702,531 ​ ​ ​ Accumulated Other Comprehensive Income The components of other comprehensive income (loss) consist of changes in foreign currency translation adjustments and changes in net unrealized gains (losses) on derivative instruments designated as cash flow hedges. The Company reclassified a $0.3 million gain, net of taxes, from accumulated other comprehensive income (loss) to earnings during the six months ended December 31, 2022. The Company reclassified a $2.9 million loss, net of taxes, from accumulated other comprehensive income (loss) to earnings during the six months ended December 31, 2021. The accumulated balances related to each component of other comprehensive income (loss) attributable to Bio-Techne, net of tax, are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2022 ​ $ 8,069 ​ $ (83,269) ​ $ (75,200) Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne ​ 4,484 ​ (4,087) ​ 397 Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (1) ​ (474) ​ ​ ​ ​ ​ (474) Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne ​ ​ — ​ ​ 152 ​ ​ 152 Balance as of December 31, 2022 (2) ​ $ 12,079 ​ $ (87,204) ​ $ (75,125) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2021 attributable to Bio-Techne ​ $ (6,193) ​ $ (51,098) ​ $ (57,291) Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne ​ 1,682 ​ (6,750) ​ (5,068) Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (1) ​ 2,884 ​ — ​ 2,884 Balance as of December 31, 2021 (2) ​ $ (1,626) ​ $ (57,848) ​ $ (59,474) ​ ​ (1) (G ains)/losses on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $619 to interest income and recorded a related tax expense of $145 during the six months ended December 31, 2022. The Company reclassified $3,777 to interest expense and a related tax benefit of $892 during the six months ended December 31, 2021 . ​ (2) The Company had a net deferred tax liability of $3,711 and a net deferred tax benefit of $502 included in the accumulated other comprehensive income loss as of December 31, 2022 and 2021, respectively. ​ ​ ​ ​

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Earnings Per Share	Note 9. Earnings Per Share: The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Earnings per share – basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings, including noncontrolling interest ​ $ 50,005 $ 72,059 ​ $ 139,739 $ 141,040 Less net earnings (loss) attributable to noncontrolling interest ​ ​ - ​ (8,114) ​ ​ 179 ​ (8,748) Net earnings attributable to Bio-Techne ​ $ 50,005 ​ $ 80,173 ​ $ 139,560 ​ $ 149,788 Income allocated to participating securities ​ (10) ​ (34) ​ (35) ​ (70) Income available to common shareholders ​ $ 49,995 ​ $ 80,139 ​ $ 139,525 ​ $ 149,718 Weighted-average shares outstanding – basic ​ 157,011 ​ 157,240 ​ 156,887 ​ 156,808 Earnings per share – basic ​ $ 0.32 ​ $ 0.51 ​ $ 0.89 ​ $ 0.95 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share – diluted: ​ ​ ​ ​ Net earnings, including noncontrolling interest ​ $ 50,005 ​ $ 72,059 ​ $ 139,739 ​ $ 141,040 Less net earnings (loss) attributable to noncontrolling interest ​ ​ — ​ ​ (8,114) ​ ​ 179 ​ ​ (8,748) Net earnings attributable to Bio-Techne ​ $ 50,005 ​ $ 80,173 ​ $ 139,560 ​ $ 149,788 Income allocated to participating securities ​ (10) ​ (34) ​ (35) ​ (70) Income available to common shareholders ​ $ 49,995 ​ $ 80,139 ​ $ 139,525 ​ $ 149,718 Weighted-average shares outstanding – basic ​ 157,011 ​ 157,240 ​ 156,887 ​ 156,808 Dilutive effect of stock options and restricted stock units ​ 4,739 ​ 7,588 ​ 4,879 ​ 7,828 Weighted-average common shares outstanding – diluted ​ 161,750 ​ 164,828 ​ 161,766 ​ 164,636 Earnings per share – diluted ​ $ 0.31 ​ $ 0.49 ​ $ 0.86 ​ $ 0.91 ​ The dilutive effect of stock options and restricted stock units in the above table excludes all options for which the aggregate exercise proceeds exceeded the average market price for the period. The number of potentially dilutive option shares excluded from the calculation was 4.6 million and 2.8 million for the quarter ended December 31, 2022 and 2021, respectively and 4.6 million and 1.9 million for the six months ended December 31, 2022 and 2021 respectively.

Share-based Compensation

Share-based Compensation	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Share-based Compensation	Note 10. Share-based Compensation: During the six months ended December 31, 2022 and 2021, the Company granted 2.3 million and 1.3 million stock options at weighted average grant prices of $94.11 and $120.87 and weighted average fair values of $29.62 and $29.82, respectively. During the six months ended December 31, 2022 and 2021, the Company granted 87,852 and 84,872 restricted stock units at a weighted average fair value of $94.38 and $121.49, respectively. During the six months ended December 31, 2022 and 2021, the Company granted 10,816 and 27,584 shares of restricted common stock shares at a weighted average fair value of $73.94 and $122.34. Stock options for 814,807 and 1,883,768 shares of common stock with total intrinsic values of $48.5 million and $170.7 million were exercised during the six months ended December 31, 2022 and 2021, respectively. Stock-based compensation expense, inclusive of payroll taxes, of $16.2 million and $14.1 million was included in selling, general and administrative expenses for the quarter ended December 31, 2022 and 2021, respectively. Stock-based compensation expenses, inclusive of payroll taxes, of $31.3 million and $27.3 million was included in selling, general, and administrative expenses for the six months ended December 31, 2022 and 2021, respectively. Additionally, the company recognized $0.3 million and $0.6 million of stock-based compensation costs in cost of goods sold in the quarter and six months ended December 31, 2022 respectively, compared to $0.4 million and $0.8 million in cost of goods sold in the comparative prior year periods. As of December 31, 2022, there was $59.0 million of unrecognized compensation cost related to non-vested stock options, non-vested restricted stock units and non-vested restricted stock. The weighted average period over which the compensation cost is expected to be recognized is 1.9 years. In fiscal 2015, the Company established the Bio-Techne Corporation 2014 Employee Stock Purchase Plan (ESPP), which was approved by the Company's shareholders on October 30, 2014, and which is designed to comply with IRS provisions governing employee stock purchase plans. 800,000 shares were allocated to the ESPP. The Company recorded expense of $0.3 million for the quarter ended December 31, 2022 and $0.3 million for the quarter ended December 31, 2021. The Company recorded expense of $0.4 million and $0.6 million for the ESPP for the six months ended December 31, 2022 and 2021, respectively.

Other Income _ (Expense)

Other Income / (Expense)	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Other Income / (Expense)	Note 11. Other Income / (Expense): ​ The components of other income (expense) in the accompanying Statement of Earnings and Comprehensive Income are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Interest expense ​ $ (2,356) ​ $ (2,902) ​ $ (6,146) ​ $ (6,311) Interest income ​ ​ 968 ​ ​ 245 ​ ​ 1,401 ​ ​ 438 Other non-operating income (expense), net (1) ​ (74) ​ 26,488 ​ 50,683 ​ 33,865 Total other income (expense) ​ $ (1,462) ​ $ 23,831 ​ $ 45,938 ​ $ 27,992 ​ (1) For the quarter ended December 31, 2022, primarily due to a $0.1 million loss in the fair value of our exchange traded investment grade bond funds compared to a $28.4 million gain in the fair value of our CCXI investment in the comparative period. For the six months ended December 31, 2022, primarily due to a $37.2 million gain on the sale of our CCXI investment and a $11.7 million gain on the sale of Eminence, compared to a $33.7 million gain in the fair value of our CCXI investment in the comparative period. ​

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Income Taxes	Note 12. Income Taxes: The Company’s effective income tax rate for the second quarter of fiscal 2023 and 2022 was 24.7% and 16.4%, respectively, of consolidated earnings before income taxes, and 17.9% and 8.2% for the first six months of fiscal 2023 and 2022, respectively. The change in the company’s tax rate for the quarter and six months ended December 31, 2022 compared to the quarter and six months ended December 31, 2021 was driven by discrete tax items. The Company recognized total net expense related to discrete tax items of $4.6 million and total net benefits of $3.2 million during the quarter and six months ended December 31, 2022, respectively, compared to total net benefits of $7.6 million and $25.3 million during the quarter and six months ended December 31, 2021, respectively. Share-based compensation excess tax benefit contributed $0.9 million and $9.1 million in the quarter and six months ended December 31, 2022, respectively, compared to $6.1 million and $24.4 million in the quarter and six months, ended December 31, 2021, respectively. During the quarter and six months ended December 31, 2022, the Company had discrete tax expense of $5.7 million related to taxes associated with a planned distribution from our China entity. There was no expense in the comparative periods related to distributions. The Company recognized total other immaterial net discrete tax benefits of $0.2 million in the quarter ended December 31, 2022 and net discrete tax expense of $0.2 million in the six months ended December 31, 2022, respectively, compared to $1.5 million and $0.9 million of other immaterial net discrete tax benefit in the quarter and six months ended December 31, 2021, respectively. ​

Segment Information

Segment Information	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Segment Information	Note 13. Segment Information: The Company's management evaluates segment operating performance based on operating income before certain charges to cost of sales and selling, general and administrative expenses, principally associated with the impact of partially owned consolidated subsidiaries as well as acquisition accounting related to inventory, amortization of acquisition-related intangible assets and other acquisition-related expenses. The Protein Sciences and Diagnostics and Genomics segments both include consumables, instruments, services and royalty revenue. The following is financial information relating to the Company's reportable segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ Protein Sciences ​ $ 203,887 $ 204,971 ​ $ 403,836 $ 402,156 Diagnostics and Genomics ​ 68,003 ​ 64,527 ​ 137,907 ​ 125,512 Intersegment ​ (309) ​ (222) ​ (507) ​ (673) Consolidated net sales ​ $ 271,581 $ 269,276 ​ $ 541,236 $ 526,995 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Protein Sciences ​ $ 89,336 $ 93,281 ​ $ 175,278 $ 183,381 Diagnostics and Genomics ​ 8,296 ​ 10,880 ​ 16,934 ​ 18,344 Segment operating income ​ $ 97,632 ​ $ 104,161 ​ $ 192,212 ​ $ 201,725 Costs recognized on sale of acquired inventory ​ (100) ​ (84) ​ (400) ​ (1,595) Amortization of acquisition related intangible assets ​ (19,125) ​ (18,380) ​ (38,408) ​ (36,769) Impact of partially-owned consolidated subsidiaries (1) ​ — ​ (1,004) ​ 647 ​ (2,567) Acquisition related expenses and other ​ 8,307 ​ 13,262 ​ 8,010 ​ 15,618 Eminence impairment ​ ​ — ​ ​ (18,715) ​ ​ — ​ ​ (18,715) Stock based compensation, inclusive of employer taxes ​ (16,878) ​ (14,815) ​ (32,336) ​ (28,675) Restructuring costs ​ (780) ​ (743) ​ (2,950) ​ (1,928) Corporate general, selling, and administrative expenses ​ (1,165) ​ (1,334) ​ (2,567) ​ (1,524) Consolidated operating income ​ $ 67,891 $ 62,348 ​ $ 124,208 $ 125,570 ​ (1) Includes the quarterly results of the partially-owned consolidated subsidiary prior to the sale of this partially-owned consolidated subsidiary to a third party in the first fiscal quarter of 2023.

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Subsequent Events	Note 14. Subsequent Events: None.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2022
Policy Text Block [Abstract]
Investments	Partially-owned consolidated subsidiary Investments The first part of the forward contract is triggered upon Wilson Wolf achieving approximately $92 million in annual revenue or $55 million in annual earnings before interest, taxes, depreciation, and amortization (EBITDA) at any point prior to December 31, 2027. Once triggered, the Company is required to make a payment of $231 million in exchange for a 19.9% ownership stake. If Wilson Wolf doesn’t achieve the revenue and EBITDA targets by December 31, 2027, the agreement will expire. Once the first part of the forward contract is triggered, the second part of the forward contract will automatically trigger, and requires the Company to acquire the remaining equity interest in Wilson Wolf on December 31, 2027 based on a revenue multiple. The second part of the contract would be accelerated in advance of December 31, 2027, if Wilson Wolf meets its second milestone of approximately $226 million in annual revenue or $136 million in annual EBITDA. If the second milestone is achieved, the forward contract requires the Company to pay approximately $1 billion plus potential consideration for revenue in excess of the revenue milestone. The approximate multiple for total expected payments of the second forward contract is 4.4 times the annual revenue of Wilson Wolf. The Company has elected to apply the measurement alternative as detailed under ASC 321-10-35-2 for the Wilson Wolf investment. The Company recorded the $25 million payment as a cost basis investment within Other long-term assets on the Consolidated Balance Sheet.
Restructuring actions	Restructuring actions Fiscal Year 2023 Restructuring Actions: QT Holdings Corporation (Quad) In August 2022, the Company informed employees of our decision to close our QT Holdings Corporation (Quad) facility as part of a realignment of activities within our Reagent Solutions division. The closure of the site is expected to be substantially completed in the third quarter of fiscal 2023. As a result of the restructuring activities, an estimated pre-tax charge of $2.2 million was recorded within our Protein Sciences segment for the six months ended December 31, 2022. There were no additional charges for the second fiscal quarter ended December 31, 2022. The related first quarter of fiscal 2023 restructuring charges were recorded in the income statement as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Selling, general and administrative ​ $ 1,328 ​ $ 842 ​ $ 2,170 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Expense incurred in the first quarter of 2023 ​ $ 1,328 ​ $ 842 ​ $ 2,170 Cash payments ​ ​ (420) ​ ​ (431) ​ ​ (851) Adjustments ​ ​ — ​ ​ (72) ​ ​ (72) Accrued restructuring actions balances as of September 30, 2022 ​ ​ 908 ​ ​ 339 ​ ​ 1,247 Cash payments ​ ​ (753) ​ ​ (262) ​ ​ (1,015) Adjustments ​ ​ (38) ​ ​ (73) ​ ​ (111) Accrued restructuring actions balances as of December 31, 2022 ​ $ 117 ​ $ 4 ​ $ 121 ​ ​ Protein Sciences realignment In December 2022, the Company informed employees it would undertake certain actions to strategically reallocate resources to high growth areas of the business. The realignment impacted a limited number of employees and is expected to be complete in the third fiscal quarter of 2023. As a result, a pre-tax charge of $0.8 million related to employee severance was recorded in the Selling, general and administrative line of operating income within our Protein Sciences segment during the quarter ended December 31, 2022. ​ Restructuring actions, including cash and non-cash impacts, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ severance Expense incurred in the second quarter of 2023 ​ $ 780 Cash payments ​ ​ (176) Adjustments ​ ​ — Accrued restructuring actions balances as of December 31, 2022 ​ $ 604 ​ ​ Fiscal Year 2022 Restructuring Actions: ​ In September 2021, the Company informed employees of our decision to close our Exosome Diagnostics Germany facility, discontinuing lab and research occurring at the site, as part of a realignment of activities within our Exosome Diagnostics business. The restructuring activities were completed as of June 30, 2022. As a result of the restructuring activities, a pre-tax charge of $1.4 million was recorded within our Diagnostics and Genomics segment during the year ended June 30, 2022. Total restructuring charges for the closure of the Exosome Diagnostics Germany facility for the year ended June 30, 2022 were recorded within operating income on the income statement as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Selling, general and administrative ​ $ 649 ​ $ 750 ​ $ 1,399 ​ ​ Restructuring actions, including cash and non-cash impacts, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Expense incurred in the first quarter of 2022 ​ $ 639 ​ $ 546 ​ $ 1,185 Incremental expense incurred during fiscal 2022 ​ ​ — ​ ​ 242 ​ ​ 242 Cash payments ​ ​ (589) ​ ​ (554) ​ ​ (1,143) Adjustments (1) ​ ​ (50) ​ ​ (234) ​ ​ (284) Accrued restructuring actions balances as of June 30, 2022 ​ $ — ​ $ — ​ $ — ​ (1)
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements There were no accounting pronouncements adopted in the quarter ended December 31, 2022. Refer to the Form 10-K for accounting pronouncements adopted prior to June 30, 2022.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2022
Protein Sciences [Member] | QT Holdings Corporation [Member]
Notes Tables
Schedule of restructuring charges	The related first quarter of fiscal 2023 restructuring charges were recorded in the income statement as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Selling, general and administrative ​ $ 1,328 ​ $ 842 ​ $ 2,170 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Expense incurred in the first quarter of 2023 ​ $ 1,328 ​ $ 842 ​ $ 2,170 Cash payments ​ ​ (420) ​ ​ (431) ​ ​ (851) Adjustments ​ ​ — ​ ​ (72) ​ ​ (72) Accrued restructuring actions balances as of September 30, 2022 ​ ​ 908 ​ ​ 339 ​ ​ 1,247 Cash payments ​ ​ (753) ​ ​ (262) ​ ​ (1,015) Adjustments ​ ​ (38) ​ ​ (73) ​ ​ (111) Accrued restructuring actions balances as of December 31, 2022 ​ $ 117 ​ $ 4 ​ $ 121 ​
Protein Sciences [Member] | Employee Severance [Member]
Notes Tables
Schedule of restructuring charges	Restructuring actions, including cash and non-cash impacts, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ severance Expense incurred in the second quarter of 2023 ​ $ 780 Cash payments ​ ​ (176) Adjustments ​ ​ — Accrued restructuring actions balances as of December 31, 2022 ​ $ 604 ​
Diagnostics and Genomics [Member]
Notes Tables
Schedule of restructuring charges	Total restructuring charges for the closure of the Exosome Diagnostics Germany facility for the year ended June 30, 2022 were recorded within operating income on the income statement as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Selling, general and administrative ​ $ 649 ​ $ 750 ​ $ 1,399 ​ Restructuring actions, including cash and non-cash impacts, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance Impairment and other Total Expense incurred in the first quarter of 2022 ​ $ 639 ​ $ 546 ​ $ 1,185 Incremental expense incurred during fiscal 2022 ​ ​ — ​ ​ 242 ​ ​ 242 Cash payments ​ ​ (589) ​ ​ (554) ​ ​ (1,143) Adjustments (1) ​ ​ (50) ​ ​ (234) ​ ​ (284) Accrued restructuring actions balances as of June 30, 2022 ​ $ — ​ $ — ​ $ — ​ (1)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedules of disaggregated revenue	Revenue by type is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Consumables ​ $ 217,330 ​ $ 212,706 ​ $ 433,760 ​ $ 418,397 Instruments ​ 32,301 ​ 33,353 ​ 58,759 ​ 63,222 Services ​ 15,852 ​ 17,354 ​ 37,297 ​ 33,611 Total product and services revenue, net ​ $ 265,483 ​ $ 263,413 ​ $ 529,816 ​ $ 515,230 Royalty revenues ​ 6,098 ​ 5,863 ​ 11,420 ​ 11,765 Total revenues, net ​ $ 271,581 ​ $ 269,276 ​ $ 541,236 ​ $ 526,995 ​ Revenue by geography is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 ​ ​ ​ ​ ​ ​ United States ​ $ 149,005 ​ $ 142,367 ​ $ 304,436 ​ $ 283,069 EMEA, excluding United Kingdom ​ 54,523 ​ 57,159 ​ 100,544 ​ 108,702 United Kingdom ​ 10,872 ​ 11,842 ​ 22,574 ​ 24,320 APAC, excluding Greater China ​ 17,968 ​ 19,603 ​ 35,433 ​ 37,104 Greater China ​ 30,326 ​ 31,009 ​ 61,847 ​ 59,442 Rest of World ​ 8,887 ​ 7,296 ​ 16,402 ​ 14,358 Net Sales ​ $ 271,581 ​ $ 269,276 ​ $ 541,236 ​ $ 526,995

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of inventories	Inventories consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ 2022 2022 ​ ​ ​ ​ ​ ​ ​ Raw materials ​ $ 84,757 ​ $ 79,291 Finished goods (1) ​ 80,548 ​ 66,943 Inventories, net ​ $ 165,305 ​ $ 146,234 ​ (1) Finished goods inventory of $5,072 and $5,111 included within other long-term assets in the respective December 31, 2022 and June 30, 2022, consolidated balance sheet. The inventory is included in long-term assets as it is forecasted to be sold after the 12 months subsequent to the consolidated balance sheet date.
Schedule of property and equipment	Property and equipment consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ 2022 2022 Land ​ $ 9,079 ​ $ 8,572 Buildings and improvements ​ 242,340 ​ 229,551 Machinery and equipment ​ ​ 182,306 ​ ​ 174,813 Construction in progress ​ 13,469 ​ 21,729 Property and equipment, cost ​ 447,194 ​ 434,665 Accumulated depreciation and amortization ​ (223,343) ​ (211,423) Property and equipment, net ​ $ 223,851 ​ $ 223,242 ​
Schedule of intangible assets	Intangible assets consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ ​ 2022 ​ 2022 ​ ​ ​ ​ ​ ​ ​ Developed technology ​ $ 615,301 ​ $ 542,038 Trade names ​ 146,618 ​ 146,457 Customer relationships ​ 224,212 ​ 225,882 Patents ​ 3,514 ​ 3,313 Other intangibles ​ 6,894 ​ 6,306 Definite-lived intangible assets ​ 996,539 ​ 923,996 Accumulated amortization ​ (451,592) ​ (415,174) Definite-lived intangibles assets, net ​ 544,947 ​ 508,822 In process research and development ​ 22,700 ​ 22,700 Total intangible assets, net ​ $ 567,647 ​ $ 531,522 ​
Schedule of changes in carrying amount of net intangible assets	​ Changes to the carrying amount of net intangible assets for the period ended December 31, 2022 consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 531,522 Acquisitions ​ 75,600 Other additions ​ 713 Amortization expense ​ (38,861) Currency translation ​ ​ (1,327) Ending balance ​ $ 567,647 ​
Schedule of estimated future amortization expense for intangible assets	The estimated future amortization expense for intangible assets as of December 31, 2022 is as follows (in thousands): ​ ​ ​ ​ ​ Remainder 2023 $ 38,462 2024 ​ 74,764 2025 ​ 71,341 2026 ​ 67,478 2027 ​ 57,326 Thereafter ​ 235,576 Total ​ $ 544,947 ​
Schedule of changes to the carrying amount of goodwill	Changes to the carrying amount of goodwill for the period ended December 31, 2022 consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics and ​ ​ ​ Protein Sciences ​ Genomics ​ Total June 30, 2022 ​ $ 376,493 ​ $ 445,608 ​ $ 822,101 Acquisitions ​ 51,051 ​ ​ - ​ ​ 51,051 Currency translation ​ (3,623) ​ ​ 60 ​ ​ (3,563) December 31, 2022 ​ $ 423,921 ​ $ 445,668 ​ $ 869,589 ​

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2022
Namocell Inc
Notes Tables
Schedule of the aggregate purchase price of the acquisitions that was allocated to the assets acquired and liabilities assumed	The preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date and as of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Preliminary allocation at acquisition date and at December 31, 2022 Current assets, net of cash $ 3,248 Equipment and other long-term assets 405 Intangible assets: ​ ​ Developed technologies 73,900 Tradenames 700 Customer relationships 900 Non-competition agreement 100 Goodwill 51,051 Total assets acquired 130,304 ​ ​ ​ Liabilities 546 Deferred income taxes, net 17,974 Net assets acquired $ 111,784 ​ ​ ​ Cash paid, net of cash acquired 101,184 Contingent consideration payable 10,600 Net assets acquired $ 111,784 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of information by level for financial assets and liabilities that are measured at fair value on a recurring basis	The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ Fair Value Measurements Using ​ ​ December 31, ​ Inputs Considered as ​ ​ 2022 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ Exchange traded securities (1) ​ $ 23,574 ​ $ 23,574 ​ $ — ​ $ — Certificates of deposit (2) ​ 8,500 ​ 8,500 ​ — ​ — Derivative instruments - cash flow hedges (3) ​ 15,791 ​ — ​ 15,791 ​ — Total assets ​ $ 47,865 ​ $ 32,074 ​ $ 15,791 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ Contingent consideration ​ $ 7,000 ​ $ — ​ $ — ​ $ 7,000 Total liabilities ​ $ 7,000 ​ $ — ​ $ — ​ $ 7,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ Fair Value Measurements Using ​ ​ June 30, ​ Inputs Considered as ​ 2022 Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ Exchange traded securities (1) ​ $ 59,962 ​ $ 59,962 ​ $ — ​ $ — Certificates of deposit (2) ​ 14,500 ​ 14,500 ​ — ​ — Derivative instruments - cash flow hedges (3) ​ 11,026 ​ — ​ 11,026 ​ — Total assets ​ $ 85,488 ​ $ 74,462 ​ $ 11,026 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ Contingent consideration ​ $ 5,000 ​ $ — ​ $ — ​ $ 5,000 Derivative instruments - cash flow hedges (3) ​ 476 ​ — ​ 476 ​ — Total liabilities ​ $ 5,476 ​ $ — ​ $ 476 ​ $ 5,000 ​ (1) Included in available-for-sale investments on the balance sheet. The cost basis and fair value of the exchange traded investment grade bond funds as of December 31, 2022 was $25.0 million and $23.6 million, respectively. The cost basis and fair value of the exchange traded investment grade bond funds as of June 30, 2022 was $25.0 million and $23.9 million, respectively. ​ (2) Included in available-for-sale investments on the balance sheet. The certificates of deposit have contractual maturity dates within one year. ​ (3) Derivative assets are included in other assets on the balance sheet as of December 31, 2022 and June 30, 2022. Derivative liabilities as of June 30, 2022 are included in other current liabilities on the balance sheet. ​
Schedule of the reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ ​ 2022 ​ 2022 ​ ​ ​ ​ ​ ​ ​ Fair value at the beginning of period ​ $ 15,500 ​ $ 5,000 Change in fair value of contingent consideration ​ (8,500) ​ (8,600) Additions ​ — ​ 10,600 Payments ​ — ​ — Fair value at the end of period ​ $ 7,000 ​ $ 7,000 ​

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of table that summarizes the balance sheet classification of the Company's operating leases and amounts of right of use assets and lease liabilities and the weighted average remaining lease term and weighted average discount rate for the Company's operating leases	The following table summarizes the balance sheet classification of the Company’s operating leases and amounts of right of use assets and lease liabilities and the weighted average remaining lease term and weighted average discount rate for the Company’s operating leases (asset and liability amounts are in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ ​ ​ ​ December 31, ​ ​ Balance Sheet Classification ​ 2022 Operating leases: ​ ​ ​ Operating lease right of use assets ​ Right of Use Asset ​ $ 83,937 ​ ​ ​ ​ ​ ​ ​ ​ Current operating lease liabilities ​ Operating lease liabilities current ​ $ 10,975 Noncurrent operating lease liabilities ​ Operating lease liabilities ​ 78,183 Total operating lease liabilities ​ ​ ​ ​ $ 89,158 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years): ​ ​ ​ 9.77 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate (%): ​ ​ ​ 4.23 ​
Schedule of the table that summarizes the cash paid for amounts included in the measurement of operating lease liabilities and right of use assets obtained in exchange for new operating lease liabilities	The following table summarizes the cash paid for amounts included in the measurement of operating lease liabilities and right of use assets obtained in exchange for new operating lease liabilities for the six months ended December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ December 31, ​ 2022 Cash amounts paid on operating lease liabilities ​ $ 7,294 ​ ​ ​ ​ Right of use assets obtained in exchange for lease liabilities ​ 26,553 ​
Schedule of the fair value of the lease liability by payment date for the operating leases by fiscal year	​ The following table summarizes the fair value of the lease liability by payment date for the Company’s operating leases by fiscal year (in thousands): ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Operating ​ ​ Leases Remainder 2023 ​ $ 7,237 2024 ​ 13,236 2025 ​ 12,328 2026 ​ 11,211 2027 ​ 9,524 Thereafter ​ 57,035 Total ​ $ 110,571 Less: Amounts representing interest ​ 21,413 Total Lease obligations ​ $ 89,158 ​

Supplemental Equity and Accum_2

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of the Consolidated Changes in Equity	Consolidated Changes in Equity (amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bio-Techne Shareholders ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ Paid-in ​ Retained ​ Comprehensive ​ Noncontrolling ​ ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Interest ​ Total Balances at June 30, 2022 156,644 ​ ​ 1,566 ​ ​ 652,467 ​ ​ 1,122,937 ​ ​ (75,200) ​ ​ (759) ​ ​ 1,701,011 Net earnings ​ ​ ​ ​ ​ ​ ​ 89,555 ​ ​ ​ 179 ​ 89,734 Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ (16,762) ​ ​ ​ (16,762) Reclassification of cumulative translation adjustment for Eminence to non-operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 152 ​ ​ (33) ​ ​ 119 Elimination of noncontrolling equity interest from sale of Eminence ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 613 ​ 613 Share repurchases (222) ​ (2) ​ ​ ​ (19,560) ​ ​ ​ ​ ​ (19,562) Common stock issued for exercise of options 425 ​ 5 ​ 9,418 ​ (11,428) ​ ​ ​ ​ ​ (2,005) Common stock issued for restricted stock awards 45 ​ ​ 0 ​ 0 ​ (6,427) ​ ​ ​ ​ ​ (6,427) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,545) ​ ​ ​ ​ ​ (12,545) Stock-based compensation expense ​ ​ ​ ​ 14,364 ​ ​ ​ ​ ​ ​ ​ 14,364 Common stock issued to employee stock purchase plan 36 ​ ​ 0 ​ 2,517 ​ ​ ​ ​ ​ ​ ​ 2,517 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 97 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 97 Balances at September 30, 2022 156,928 ​ $ 1,569 ​ $ 678,863 ​ $ 1,162,532 ​ $ (91,810) ​ $ — ​ $ 1,751,154 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 50,005 ​ ​ ​ ​ ​ ​ ​ 50,005 Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,685 ​ ​ ​ ​ ​ 16,685 Share repurchases ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Common stock issued for exercise of options 155 ​ ​ 1 ​ ​ 5,074 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5,075 Common stock issued for restricted stock awards 11 ​ ​ 1 ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 Cash dividends ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,561) ​ ​ ​ ​ ​ ​ ​ (12,561) Stock-based compensation expense ​ ​ ​ ​ ​ ​ 16,413 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,413 Common stock issued to employee stock purchase plan ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 333 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 333 Balances at December 31, 2022 157,094 ​ $ 1,571 ​ $ 700,684 ​ $ 1,199,976 ​ $ (75,125) ​ $ — ​ $ 1,827,106 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bio-Techne Shareholders ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ Paid-in ​ Retained ​ Comprehensive ​ Noncontrolling ​ ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Interest ​ Total Balances at June 30, 2021 155,822 ​ $ 1,558 ​ $ 533,239 ​ $ 1,085,465 ​ $ (57,291) ​ $ 8,263 ​ $ 1,571,234 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 69,615 ​ ​ ​ ​ ​ (634) ​ ​ 68,981 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (6,925) ​ (39) ​ (6,964) Common stock issued for exercise of options 1,178 ​ 12 ​ 36,336 ​ (13,481) ​ ​ ​ ​ ​ 22,867 Common stock issued for restricted stock awards 79 ​ 1 ​ (1) ​ (9,765) ​ ​ ​ ​ ​ (9,765) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,493) ​ ​ ​ ​ ​ (12,493) Stock-based compensation expense ​ ​ ​ ​ ​ 11,396 ​ ​ ​ ​ ​ ​ ​ 11,396 Common stock issued to employee stock purchase plan 13 ​ 0 ​ 1,358 ​ ​ ​ ​ ​ ​ ​ 1,358 Employee stock purchase plan expense ​ ​ ​ ​ ​ 341 ​ ​ ​ ​ ​ ​ ​ 341 Balances at September 30, 2021 157,092 ​ $ 1,571 ​ $ 582,669 ​ $ 1,119,341 ​ $ (64,216) ​ $ 7,590 ​ $ 1,646,955 Non-controlling interest in Eminence ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 80,173 ​ ​ ​ (8,114) ​ 72,059 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,742 ​ 66 ​ 4,808 Share repurchases ​ (357) ​ ​ (4) ​ ​ ​ ​ ​ (41,290) ​ ​ ​ ​ ​ ​ ​ ​ (41,294) Common stock issued for exercise of options 538 ​ 6 ​ 18,599 ​ ​ ​ ​ ​ ​ ​ ​ ​ 18,605 Common stock issued for restricted stock awards 6 ​ 0 ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ ​ ​ 0 Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,576) ​ ​ ​ ​ ​ ​ ​ (12,576) Stock-based compensation expense ​ ​ ​ ​ ​ 13,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ 13,701 Common stock issued to employee stock purchase plan ​ ​ ​ ​ ​ ​ ​ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6 Employee stock purchase plan expense ​ ​ ​ ​ ​ 267 ​ ​ ​ ​ ​ ​ ​ ​ ​ 267 Balances at December 31, 2021 157,279 ​ $ 1,573 ​ $ 615,242 ​ $ 1,145,648 ​ $ (59,474) ​ $ (458) ​ $ 1,702,531 ​
Schedule of each component of other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2022 ​ $ 8,069 ​ $ (83,269) ​ $ (75,200) Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne ​ 4,484 ​ (4,087) ​ 397 Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (1) ​ (474) ​ ​ ​ ​ ​ (474) Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne ​ ​ — ​ ​ 152 ​ ​ 152 Balance as of December 31, 2022 (2) ​ $ 12,079 ​ $ (87,204) ​ $ (75,125) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2021 attributable to Bio-Techne ​ $ (6,193) ​ $ (51,098) ​ $ (57,291) Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne ​ 1,682 ​ (6,750) ​ (5,068) Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (1) ​ 2,884 ​ — ​ 2,884 Balance as of December 31, 2021 (2) ​ $ (1,626) ​ $ (57,848) ​ $ (59,474) ​ ​ (1) (G ains)/losses on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $619 to interest income and recorded a related tax expense of $145 during the six months ended December 31, 2022. The Company reclassified $3,777 to interest expense and a related tax benefit of $892 during the six months ended December 31, 2021 . ​ (2) The Company had a net deferred tax liability of $3,711 and a net deferred tax benefit of $502 included in the accumulated other comprehensive income loss as of December 31, 2022 and 2021, respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of the calculation of basic and diluted earnings per share	The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Earnings per share – basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings, including noncontrolling interest ​ $ 50,005 $ 72,059 ​ $ 139,739 $ 141,040 Less net earnings (loss) attributable to noncontrolling interest ​ ​ - ​ (8,114) ​ ​ 179 ​ (8,748) Net earnings attributable to Bio-Techne ​ $ 50,005 ​ $ 80,173 ​ $ 139,560 ​ $ 149,788 Income allocated to participating securities ​ (10) ​ (34) ​ (35) ​ (70) Income available to common shareholders ​ $ 49,995 ​ $ 80,139 ​ $ 139,525 ​ $ 149,718 Weighted-average shares outstanding – basic ​ 157,011 ​ 157,240 ​ 156,887 ​ 156,808 Earnings per share – basic ​ $ 0.32 ​ $ 0.51 ​ $ 0.89 ​ $ 0.95 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share – diluted: ​ ​ ​ ​ Net earnings, including noncontrolling interest ​ $ 50,005 ​ $ 72,059 ​ $ 139,739 ​ $ 141,040 Less net earnings (loss) attributable to noncontrolling interest ​ ​ — ​ ​ (8,114) ​ ​ 179 ​ ​ (8,748) Net earnings attributable to Bio-Techne ​ $ 50,005 ​ $ 80,173 ​ $ 139,560 ​ $ 149,788 Income allocated to participating securities ​ (10) ​ (34) ​ (35) ​ (70) Income available to common shareholders ​ $ 49,995 ​ $ 80,139 ​ $ 139,525 ​ $ 149,718 Weighted-average shares outstanding – basic ​ 157,011 ​ 157,240 ​ 156,887 ​ 156,808 Dilutive effect of stock options and restricted stock units ​ 4,739 ​ 7,588 ​ 4,879 ​ 7,828 Weighted-average common shares outstanding – diluted ​ 161,750 ​ 164,828 ​ 161,766 ​ 164,636 Earnings per share – diluted ​ $ 0.31 ​ $ 0.49 ​ $ 0.86 ​ $ 0.91 ​

Other Income _ (Expense) (Table

Other Income / (Expense) (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of the components of other income (expense)	The components of other income (expense) in the accompanying Statement of Earnings and Comprehensive Income are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Interest expense ​ $ (2,356) ​ $ (2,902) ​ $ (6,146) ​ $ (6,311) Interest income ​ ​ 968 ​ ​ 245 ​ ​ 1,401 ​ ​ 438 Other non-operating income (expense), net (1) ​ (74) ​ 26,488 ​ 50,683 ​ 33,865 Total other income (expense) ​ $ (1,462) ​ $ 23,831 ​ $ 45,938 ​ $ 27,992 ​ (1) For the quarter ended December 31, 2022, primarily due to a $0.1 million loss in the fair value of our exchange traded investment grade bond funds compared to a $28.4 million gain in the fair value of our CCXI investment in the comparative period. For the six months ended December 31, 2022, primarily due to a $37.2 million gain on the sale of our CCXI investment and a $11.7 million gain on the sale of Eminence, compared to a $33.7 million gain in the fair value of our CCXI investment in the comparative period.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of financial information by reportable segment	The following is financial information relating to the Company's reportable segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2022 2021 ​ 2022 2021 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ Protein Sciences ​ $ 203,887 $ 204,971 ​ $ 403,836 $ 402,156 Diagnostics and Genomics ​ 68,003 ​ 64,527 ​ 137,907 ​ 125,512 Intersegment ​ (309) ​ (222) ​ (507) ​ (673) Consolidated net sales ​ $ 271,581 $ 269,276 ​ $ 541,236 $ 526,995 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Protein Sciences ​ $ 89,336 $ 93,281 ​ $ 175,278 $ 183,381 Diagnostics and Genomics ​ 8,296 ​ 10,880 ​ 16,934 ​ 18,344 Segment operating income ​ $ 97,632 ​ $ 104,161 ​ $ 192,212 ​ $ 201,725 Costs recognized on sale of acquired inventory ​ (100) ​ (84) ​ (400) ​ (1,595) Amortization of acquisition related intangible assets ​ (19,125) ​ (18,380) ​ (38,408) ​ (36,769) Impact of partially-owned consolidated subsidiaries (1) ​ — ​ (1,004) ​ 647 ​ (2,567) Acquisition related expenses and other ​ 8,307 ​ 13,262 ​ 8,010 ​ 15,618 Eminence impairment ​ ​ — ​ ​ (18,715) ​ ​ — ​ ​ (18,715) Stock based compensation, inclusive of employer taxes ​ (16,878) ​ (14,815) ​ (32,336) ​ (28,675) Restructuring costs ​ (780) ​ (743) ​ (2,950) ​ (1,928) Corporate general, selling, and administrative expenses ​ (1,165) ​ (1,334) ​ (2,567) ​ (1,524) Consolidated operating income ​ $ 67,891 $ 62,348 ​ $ 124,208 $ 125,570 ​ (1) Includes the quarterly results of the partially-owned consolidated subsidiary prior to the sale of this partially-owned consolidated subsidiary to a third party in the first fiscal quarter of 2023.

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands			1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Nov. 29, 2022 shares	Sep. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) shares	Sep. 30, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment shares	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) shares
Number of Operating Segments | segment							2
Proceeds from Divestiture of Interest in Consolidated Subsidiaries							$ 17,824
Net sales				$ 271,581		$ 269,276	541,236	$ 526,995
Gain on sale of Eminence							$ 11,682	$ 0
Common stock, shares authorized (in shares) | shares	400,000,000			400,000,000	100,000,000		400,000,000		400,000,000
Declared stock split	4
Additional shares | shares	3
Changzhou Eminence Biotechnology [Member]
Proceeds from Divestiture of Interest in Consolidated Subsidiaries		$ 17,800
Goodwill, Impairment Loss									$ 8,300
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)									8,600
Protein Sciences [Member]
Pre-tax restructuring charges				$ 800
Protein Sciences [Member] | Changzhou Eminence Biotechnology [Member]
Net sales					$ 2,000				4,600
Diagnostics and Genomics [Member]
Pre-tax restructuring charges									1,400
Wilson Wolf Corporation [Member]
Payments to Acquire Investments, Total			$ 25,000				$ 25,000
Wilson Wolf Corporation [Member] | First Part of Forward Contract [Member]
Forward Contract, Milestone, Annual Revenue Required				92,000			92,000
Forward Contract, Milestone, Annual EBITDA				55,000			55,000
Forward Contract Payment				$ 231,000			$ 231,000
Wilson Wolf Corporation [Member] | First Part of Forward Contract Triggered [Member]
Noncontrolling Interest, Ownership Percentage by Parent				19.90%			19.90%
Wilson Wolf Corporation [Member] | Second Part of Forward Contract [Member]
Forward Contract, Milestone, Annual Revenue Required				$ 226,000			$ 226,000
Forward Contract, Milestone, Annual EBITDA				136,000			136,000
Forward Contract, Additional Investment				$ 1,000,000			$ 1,000,000
Forward Contract, Milestone, Multiple for Total Expected Payments				4.4			4.4
QT Holdings Corporation [Member] | Protein Sciences [Member]
Pre-tax restructuring charges				$ 0			$ 2,200
Changzhou Eminence Biotechnology [Member]
Inventory Write-down									900
Asset Impairment Charges, Total									$ 900
Changzhou Eminence Biotechnology [Member] | Nonoperating Income (Expense) [Member]
Gain on sale of Eminence					$ 11,700

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Protein Sciences [Member] | QT Holdings Corporation [Member]
Accrued restructuring actions balances	$ 1,247
Restructuring costs		$ 2,170
Cash payments	(1,015)	(851)
Adjustments	(111)	(72)
Accrued restructuring actions balances	121	1,247
Diagnostics and Genomics [Member]
Restructuring costs			$ 1,185	$ 242
Cash payments				(1,143)
Adjustments				(284)
Selling, General and Administrative Expenses [Member] | Protein Sciences [Member]
Restructuring costs		2,170
Selling, General and Administrative Expenses [Member] | Diagnostics and Genomics [Member]
Restructuring costs				1,399
Employee Severance [Member] | Protein Sciences [Member]
Restructuring costs		780
Cash payments	(176)
Accrued restructuring actions balances	604
Employee Severance [Member] | Protein Sciences [Member] | QT Holdings Corporation [Member]
Accrued restructuring actions balances	908
Restructuring costs		1,328
Cash payments	(753)	(420)
Adjustments	(38)
Accrued restructuring actions balances	117	908
Employee Severance [Member] | Diagnostics and Genomics [Member]
Restructuring costs			639
Cash payments				(589)
Adjustments				(50)
Employee Severance [Member] | Selling, General and Administrative Expenses [Member] | Protein Sciences [Member]
Restructuring costs		1,328
Employee Severance [Member] | Selling, General and Administrative Expenses [Member] | Diagnostics and Genomics [Member]
Restructuring costs				649
Asset Impairment and Other [Member] | Protein Sciences [Member] | QT Holdings Corporation [Member]
Accrued restructuring actions balances	339
Restructuring costs		842
Cash payments	(262)	(431)
Adjustments	(73)	(72)
Accrued restructuring actions balances	$ 4	339
Asset Impairment and Other [Member] | Diagnostics and Genomics [Member]
Restructuring costs			$ 546	242
Cash payments				(554)
Adjustments				(234)
Asset Impairment and Other [Member] | Selling, General and Administrative Expenses [Member] | Protein Sciences [Member]
Restructuring costs		$ 842
Asset Impairment and Other [Member] | Selling, General and Administrative Expenses [Member] | Diagnostics and Genomics [Member]
Restructuring costs				$ 750

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2022
Revenue Recognition
Proceeds from non-Medicare laboratory services		$ 0.8
Proceeds from Laboratory Services Reimbursed by Medicare			$ 0.5
Contract with Customer, Liability, Total	$ 23.5	23.5		$ 25.5
Contract with Customer, Liability, Revenue Recognized	$ 5.3	$ 15.9

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 271,581	$ 269,276	$ 541,236	$ 526,995
United States
Net sales	149,005	142,367	304,436	283,069
EMEA, excluding United Kingdom
Net sales	54,523	57,159	100,544	108,702
United Kingdom
Net sales	10,872	11,842	22,574	24,320
APAC, excluding Greater China
Net sales	17,968	19,603	35,433	37,104
Greater China
Net sales	30,326	31,009	61,847	59,442
Rest of World
Net sales	8,887	7,296	16,402	14,358
Consumables
Net sales	217,330	212,706	433,760	418,397
Instruments
Net sales	32,301	33,353	58,759	63,222
Services
Net sales	15,852	17,354	37,297	33,611
Product and Services
Net sales	265,483	263,413	529,816	515,230
Royalty
Net sales	$ 6,098	$ 5,863	$ 11,420	$ 11,765

Selected Balance Sheet Data - N

Selected Balance Sheet Data - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
Acquisitions	$ 75,600
Amortization of Intangible Assets, Total	38,861
Other Noncurrent Assets [Member]
Inventory, Finished Goods, Net of Reserves, Non-current	$ 5,072	$ 5,111

Selected Balance Sheet Data - I

Selected Balance Sheet Data - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Selected Balance Sheet Data
Raw materials	$ 84,757	$ 79,291
Finished goods	80,548	66,943
Inventories, net	$ 165,305	$ 146,234

Selected Balance Sheet Data - P

Selected Balance Sheet Data - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Property and equipment, cost	$ 447,194	$ 434,665
Accumulated depreciation and amortization	(223,343)	(211,423)
Property and equipment, net	223,851	223,242
Land [Member]
Property and equipment, cost	9,079	8,572
Building and Building Improvements [Member]
Property and equipment, cost	242,340	229,551
Machinery and Equipment [Member]
Property and equipment, cost	182,306	174,813
Construction in Progress [Member]
Property and equipment, cost	$ 13,469	$ 21,729

Selected Balance Sheet Data -_2

Selected Balance Sheet Data - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Definite-lived intangibles assets, gross	$ 996,539	$ 923,996
Accumulated amortization	(451,592)	(415,174)
Total	544,947	508,822
In process research and development	22,700	22,700
Total intangible assets, net	567,647	531,522
Developed Technology Rights [Member]
Definite-lived intangibles assets, gross	615,301	542,038
Trade Names [Member]
Definite-lived intangibles assets, gross	146,618	146,457
Customer Relationships [Member]
Definite-lived intangibles assets, gross	224,212	225,882
Patents [Member]
Definite-lived intangibles assets, gross	3,514	3,313
Other Intangible Assets [Member]
Definite-lived intangibles assets, gross	$ 6,894	$ 6,306

Selected Balance Sheet Data - C

Selected Balance Sheet Data - Changes to Carrying Amount of Net Intangible Assets (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2022 USD ($)
Selected Balance Sheet Data
Beginning balance	$ 531,522
Acquisitions	75,600
Other additions	713
Amortization expense	(38,861)
Currency translation	(1,327)
Ending balance	$ 567,647

Selected Balance Sheet Data - E

Selected Balance Sheet Data - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Selected Balance Sheet Data
Remainder 2023	$ 38,462
2024	74,764
2025	71,341
2026	67,478
2027	57,326
Thereafter	235,576
Total	$ 544,947	$ 508,822

Selected Balance Sheet Data -_3

Selected Balance Sheet Data - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2022 USD ($)
Beginning balance	$ 822,101
Acquisitions	51,051
Currency translation	(3,563)
Ending balance	869,589
Protein Sciences [Member]
Beginning balance	376,493
Acquisitions	51,051
Currency translation	(3,623)
Ending balance	423,921
Diagnostics and Genomics [Member]
Beginning balance	445,608
Currency translation	60
Ending balance	$ 445,668

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Jul. 01, 2022	Dec. 31, 2022	Dec. 31, 2022
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ 101,184
Namocell Inc
Business Combination, Consideration Transferred, Total			111,784
Maximum contingent consideration	$ 25,000	$ 25,000	25,000
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 101,200		101,184
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		2,200	4,600
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		1,600	3,100
Namocell Inc | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	13 years
Namocell Inc | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	4 years
Namocell Inc | Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	3 years
Acquisition of Asuragen, Inc. [Member]
Maximum contingent consideration		$ 105,000	$ 105,000

Acquisitions - Preliminary and

Acquisitions - Preliminary and Final Fair Value of Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 01, 2022	Dec. 31, 2022	Jun. 30, 2022
Goodwill		$ 869,589	$ 822,101
Payments to Acquire Businesses, Net of Cash Acquired, Total		101,184
Namocell Inc
Current assets, net of cash		3,248
Equipment and other long-term assets		405
Goodwill		51,051
Total assets acquired		130,304
Liabilities		546
Deferred income taxes, net		17,974
Net assets acquired		111,784
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 101,200	101,184
Contingent consideration payable		10,600
Net assets acquired		111,784
Namocell Inc | Developed Technology Rights [Member]
Intangible assets		73,900
Namocell Inc | Customer Relationships [Member]
Intangible assets		900
Namocell Inc | Trade Names [Member]
Intangible assets		700
Namocell Inc | Noncompete Agreements [Member]
Intangible assets		$ 100

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Jul. 01, 2022	Jun. 30, 2022	Jun. 30, 2021	May 31, 2021
Interest expense	$ 2,356	$ 2,902	$ 6,146	$ 6,311
Income Tax Expense (Benefit), Total	16,424	14,120	30,407	12,522
Total other income (expense), net	(1,462)	$ 23,831	45,938	27,992
Exchange Traded Investment Grade Bond Funds [Member]
Investments, Total	25,000		25,000			$ 25,000
Investments, Fair Value Disclosure, Total	23,600		23,600			23,900
Acquisition of Asuragen Inc and Namocell, Inc [Member]
Contingent consideration	7,000		7,000
Maximum contingent consideration	100,000		100,000
Acquisition of Asuragen, Inc. [Member]
Contingent consideration	4,000		4,000			5,000	$ 18,300
Maximum contingent consideration	105,000		105,000
Namocell Inc
Contingent consideration	3,000		3,000		$ 10,600
Maximum contingent consideration	25,000		25,000		$ 25,000
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI Attributable to Parent [Member]
Interest expense				(3,777)
Income Tax Expense (Benefit), Total			145	(892)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Designated as Hedging Instrument [Member] | AOCI Attributable to Parent [Member]
Interest expense			600	3,800
Income Tax Expense (Benefit), Total			100	$ 900
Forward Starting Swap [Member] | Cash Flow Hedging [Member] | Other Noncurrent Liabilities [Member]
Hedging Liabilities, Noncurrent						500
New Forward Starting Swap [Member] | Cash Flow Hedging [Member]
Derivative, Notional Amount								$ 200,000
New Forward Starting Swap [Member] | Cash Flow Hedging [Member] | Other Noncurrent Assets [Member]
Hedging Assets, Noncurrent, Total	$ 15,800		$ 15,800			11,000
CCXI [Member]
Investments, Total						6,600
Investments, Fair Value Disclosure, Total						$ 36,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Derivative instruments - cash flow hedges	$ 15,791	$ 11,026
Total assets	47,865	85,488
Contingent consideration	7,000	5,000
Derivative instruments - cash flow hedges		476
Total liabilities	7,000	5,476
Fair Value, Inputs, Level 1 [Member]
Total assets	32,074	74,462
Fair Value, Inputs, Level 2 [Member]
Derivative instruments - cash flow hedges	15,791	11,026
Total assets	15,791	11,026
Derivative instruments - cash flow hedges		476
Total liabilities		476
Fair Value, Inputs, Level 3 [Member]
Contingent consideration	7,000	5,000
Total liabilities	7,000	5,000
Exchanged Traded Securities [Member]
Investments, Fair Value Disclosure	23,574	59,962
Exchanged Traded Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Investments, Fair Value Disclosure	23,574	59,962
Certificates of Deposit [Member]
Investments, Fair Value Disclosure	8,500	14,500
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]
Investments, Fair Value Disclosure	$ 8,500	$ 14,500

Fair Value Measurements - Liabi

Fair Value Measurements - Liability Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - Contingent Consideration [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2022
Fair value at the beginning of period	$ 15,500	$ 5,000
Change in fair value of contingent consideration	$ (8,500)	$ (8,600)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative	Selling, general and administrative
Additions		$ 10,600
Fair value at the end of period	$ 7,000	$ 7,000

Debt and Other Financing Arra_2

Debt and Other Financing Arrangements - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Aug. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Proceeds from Long-term Lines of Credit		$ 449,661	$ 50,000
Amended Credit Agreement [Member]
Line of Credit, Current		$ 200,000
Credit Agreement [Member] | Term Loan [Member]
Debt Instrument, Face Amount	$ 250,000
Revolving Credit Facility [Member] | Amended Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity	1,000,000
Line of Credit Facility, Additional Borrowing Capacity	$ 400,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.10%
Proceeds from Long-term Lines of Credit	$ 350,000
Revolving Credit Facility [Member] | Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity	600,000
Line of Credit Facility, Additional Borrowing Capacity	$ 200,000

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
	Dec. 31, 2022 USD ($)
Variable Lease, Cost	$ 2
Fixed Lease, Cost	$ 7.1
Maximum
Lessee, Operating Lease, Renewal Term (Year)	5 years

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Leases
Operating lease right of use assets	$ 83,937	$ 65,556
Current operating lease liabilities	10,975	11,928
Noncurrent operating lease liabilities	78,183	$ 58,133
Total operating lease liabilities	$ 89,158
Weighted average remaining lease term (in years):	9 years 9 months 7 days
Weighted average discount rate:	4.23%

Leases - Cash Paid (Details)

Leases - Cash Paid (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2022 USD ($)
Leases
Cash amounts paid on operating lease liabilities	$ 7,294
Right of use assets obtained in exchange for lease liabilities	$ 26,553

Leases - Fair Value of the Leas

Leases - Fair Value of the Lease Liability by Payment Date (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases
Remainder 2023	$ 7,237
2024	13,236
2025	12,328
2026	11,211
2027	9,524
Thereafter	57,035
Total	110,571
Less: Amounts representing interest	21,413
Total Lease obligations	$ 89,158

Supplemental Equity and Accum_3

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.08	$ 0.16	$ 0.08	$ 0.16
Interest expense	$ 2,356	$ 2,902	$ 6,146	$ 6,311
Income Tax Expense (Benefit), Total	16,424	14,120	30,407	12,522
Total other income (expense), net	$ (1,462)	$ 23,831	45,938	27,992
AOCI Attributable to Parent [Member]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent			474	(2,884)
Deferred Income Tax Expense (Benefit), Total			3,711	(502)
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI Attributable to Parent [Member]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent			300	2,900
Interest income			619
Interest expense				(3,777)
Income Tax Expense (Benefit), Total			$ 145	$ (892)

Supplemental Equity and Accum_4

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) - Consolidated Changes in Equity (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Balances	$ 1,751,154	$ 1,701,011	$ 1,646,955	$ 1,571,234	$ 1,701,011	$ 1,571,234
Balances (in shares)		156,644,212			156,644,212
Net earnings	50,005	$ 89,734	72,059	68,981	$ 139,739	141,040
Other comprehensive income (loss)	16,685		4,808	(6,964)	42	$ (2,156)
Other comprehensive loss	16,685	(16,762)
Reclassification of cumulative translation adjustment for Eminence to non-operating income		119			$ 119
Elimination of noncontrolling equity interest from sale of Eminence		613
Share repurchases		(19,562)	(41,294)
Common stock issued for exercise of options	5,075	(2,005)	18,605	22,867
Common stock issued for exercise of options (in shares)					814,807	1,883,768
Common stock issued for restricted stock awards	2	(6,427)	0	(9,765)
Cash dividends	(12,561)	(12,545)	(12,576)	(12,493)
Stock-based compensation expense	16,413	14,364	13,701	11,396
Common stock issued to employee stock purchase plan		2,517	6	1,358
Employee stock purchase plan expense	333	97	267	341
Balances	$ 1,827,106	1,751,154	1,702,531	1,646,955	$ 1,827,106	$ 1,702,531
Balances (in shares)	157,093,879				157,093,879
Common Stock [Member]
Balances	$ 1,569	$ 1,566	$ 1,571	$ 1,558	$ 1,566	$ 1,558
Balances (in shares)	156,928,000	156,644,000	157,092,000	155,822,000	156,644,000	155,822,000
Share repurchases		$ (2)	$ (4)
Share repurchases (in shares)		(222,000)	(357,000)
Common stock issued for exercise of options	$ 1	$ 5	$ 6	$ 12
Common stock issued for exercise of options (in shares)	155,000	425,000	538,000	1,178,000
Common stock issued for restricted stock awards	$ 1	$ 0	$ 0	$ 1
Common stock issued for restricted stock awards (in shares)	11,000	45,000	6,000	79,000
Common stock issued to employee stock purchase plan		$ 0		$ 0
Common stock issued to employee stock purchase plan (in shares)		36,000		13,000
Balances	$ 1,571	$ 1,569	$ 1,573	$ 1,571	$ 1,571	$ 1,573
Balances (in shares)	157,094,000	156,928,000	157,279,000	157,092,000	157,094,000	157,279,000
Additional Paid-in Capital [Member]
Balances	$ 678,863	$ 652,467	$ 582,669	$ 533,239	$ 652,467	$ 533,239
Common stock issued for exercise of options	5,074	9,418	18,599	36,336
Common stock issued for restricted stock awards	1	0	0	(1)
Stock-based compensation expense	16,413	14,364	13,701	11,396
Common stock issued to employee stock purchase plan		2,517	6	1,358
Employee stock purchase plan expense	333	97	267	341
Balances	700,684	678,863	615,242	582,669	700,684	615,242
Retained Earnings [Member]
Balances	1,162,532	1,122,937	1,119,341	1,085,465	1,122,937	1,085,465
Net earnings	50,005	89,555	80,173	69,615
Share repurchases		(19,560)	(41,290)
Common stock issued for exercise of options		(11,428)		(13,481)
Common stock issued for restricted stock awards		(6,427)		(9,765)
Cash dividends	(12,561)	(12,545)	(12,576)	(12,493)
Balances	1,199,976	1,162,532	1,145,648	1,119,341	1,199,976	1,145,648
AOCI Attributable to Parent [Member]
Balances	(91,810)	(75,200)	(64,216)	(57,291)	(75,200)	(57,291)
Other comprehensive income (loss)			4,742	(6,925)
Other comprehensive loss	16,685	(16,762)
Reclassification of cumulative translation adjustment for Eminence to non-operating income		152
Balances	$ (75,125)	(91,810)	(59,474)	(64,216)	(75,125)	(59,474)
Noncontrolling Interest [Member]
Balances		(759)	7,590	8,263	$ (759)	8,263
Net earnings		179	(8,114)	(634)
Other comprehensive income (loss)			66	(39)
Reclassification of cumulative translation adjustment for Eminence to non-operating income		(33)
Elimination of noncontrolling equity interest from sale of Eminence		$ 613
Balances			$ (458)	$ 7,590		$ (458)

Supplemental Equity and Accum_5

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 1,701,770
Balance	1,827,106
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance	8,069	$ (6,193)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne	4,484	1,682
Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)	(474)	2,884
Balance	12,079	(1,626)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(83,269)	(51,098)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne	(4,087)	(6,750)
Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)		0
Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne	152
Balance	(87,204)	(57,848)
AOCI Attributable to Parent [Member]
Balance	(75,200)	(57,291)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne	397	(5,068)
Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)	(474)	2,884
Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne	152
Balance	$ (75,125)	$ (59,474)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	4.6	2.8	4.6	1.9

Earnings Per Share - Shares Use

Earnings Per Share - Shares Used in the Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share
Net earnings, including noncontrolling interest	$ 50,005	$ 89,734	$ 72,059	$ 68,981	$ 139,739	$ 141,040
Less net earnings (loss) attributable to noncontrolling interest			(8,114)		179	(8,748)
Net earnings attributable to Bio-Techne	50,005		80,173		139,560	149,788
Income allocated to participating securities	(10)		(34)		(35)	(70)
Income available to common shareholders	$ 49,995		$ 80,139		$ 139,525	$ 149,718
Weighted-average shares outstanding - basic (in shares)	157,011		157,240		156,887	156,808
Earnings per share - basic (in shares)	$ 0.32		$ 0.51		$ 0.89	$ 0.95
Income available to common shareholders	$ 49,995		$ 80,139		$ 139,525	$ 149,718
Dilutive effect of stock options and restricted stock units (in shares)	4,739		7,588		4,879	7,828
Weighted-average common shares outstanding - diluted (in shares)	161,750		164,828		161,766	164,636
Earnings per share - diluted (in shares)	$ 0.31		$ 0.49		$ 0.86	$ 0.91

Share-based Compensation (Detai

Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Oct. 30, 2013
Granted, shares (in shares)			2,300,000	1,300,000
Granted, weighted average exercise price (in dollars per share)			$ 94.11	$ 120.87
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 29.62	$ 29.82
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)			814,807	1,883,768
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 48,500	$ 170,700
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 59,000		$ 59,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			1 year 10 months 24 days
Employee Stock Purchase Plan 2014 [Member]
Share-based Payment Arrangement, Expense	300	$ 300	$ 400	600
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					800,000
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expense	16,200	14,100	31,300	27,300
Cost of Sales [Member]
Share-based Payment Arrangement, Expense	$ 300	$ 400	$ 600	$ 800
Restricted Stock Units (RSUs) [Member]
Granted, shares (in shares)			87,852	84,872
Granted, weighted average exercise price (in dollars per share)			$ 94.38	$ 121.49
Restricted Stock [Member]
Granted, shares (in shares)			10,816	27,584
Granted, weighted average exercise price (in dollars per share)			$ 73.94	$ 122.34

Other Income _ (Expense) - Narr

Other Income / (Expense) - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Unrealized Gain (Loss) on Investments, Total	$ (100)
Gain on sale of Investments			$ 11,682	$ 0
CCXI [Member]
Gain on sale of Investments			37,200
Eminence [Member]
Gain on sale of Investments			$ 11,700
CCXI [Member]
Unrealized Gain (Loss) on Investments, Total		$ 28,400		$ 33,700

Other Income (Expense) - Schedu

Other Income (Expense) - Schedule of Components of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Other Income / (Expense)
Interest expense	$ (2,356)	$ (2,902)	$ (6,146)	$ (6,311)
Interest income	968	245	1,401	438
Other non-operating income (expense), net(1)	(74)	26,488	50,683	33,865
Total other income (expense)	$ (1,462)	$ 23,831	$ 45,938	$ 27,992

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent, Total	24.70%	16.40%	17.90%	8.20%
Income Tax Expense (Benefit), Discrete Tax Items	$ 4.6	$ (7.6)	$ (3.2)	$ (25.3)
Share-based compensation excess tax benefit	0.9	6.1	9.1	24.4
Income Tax Expense (Benefit), Other Immaterial Discrete Tax Items, Net	0.2	1.5	0.2	0.9
China
Income Tax Expense (Benefit), Discrete Tax Items	$ 5.7	$ 0	$ 5.7	$ 0

Segment Information - Financial

Segment Information - Financial Information Relating to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Net sales	$ 271,581	$ 269,276		$ 541,236	$ 526,995
Operating income	67,891	62,348		124,208	125,570
Costs recognized on sale of acquired inventory				(400)	(1,596)
Impact of partially owned consolidated subsidiaries(1)		8,114		(179)	8,748
Eminence impairment					(18,715)
Corporate general, selling, and administrative expenses	(93,010)	(100,693)		(192,386)	(186,868)
Total intangible assets, net	567,647			567,647		$ 531,522
Diagnostics and Genomics [Member]
Restructuring costs			$ (1,185)			$ (242)
Operating Segments [Member]
Operating income	97,632	104,161		192,212	201,725
Costs recognized on sale of acquired inventory	(100)	(84)		(400)	(1,595)
Amortization of acquisition related intangible assets	(19,125)	(18,380)		(38,408)	(36,769)
Impact of partially owned consolidated subsidiaries(1)		(1,004)		647	(2,567)
Acquisition related expenses and other	8,307	13,262		8,010	15,618
Eminence impairment		(18,715)			(18,715)
Stock based compensation, inclusive of employer taxes	(16,878)	(14,815)		(32,336)	(28,675)
Restructuring costs	(780)	(743)		(2,950)	(1,928)
Operating Segments [Member] | Protein Sciences [Member]
Net sales	203,887	204,971		403,836	402,156
Operating income	89,336	93,281		175,278	183,381
Operating Segments [Member] | Diagnostics and Genomics [Member]
Net sales	68,003	64,527		137,907	125,512
Operating income	8,296	10,880		16,934	18,344
Intersegment Eliminations [Member]
Net sales	(309)	(222)		(507)	(673)
Corporate, Non-Segment [Member]
Corporate general, selling, and administrative expenses	$ (1,165)	$ (1,334)		$ (2,567)	$ (1,524)