Bio-Techne (TECH) 10-Q 6 Feb 25 2025 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2024	Feb. 03, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Securities Act File Number	0-17272
Entity Registrant Name	BIO-TECHNE Corp
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		158,087,683
Entity Central Index Key	0000842023
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Amendment Flag	false

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, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
Net sales	$ 297,031	$ 272,598	$ 586,489	$ 549,533
Cost of sales	103,145	96,011	209,586	187,755
Gross margin	193,886	176,587	376,903	361,778
Operating expenses:
Selling, general and administrative	121,451	115,667	240,612	220,998
Research and development	25,016	22,916	48,885	46,914
Total operating expenses	146,467	138,583	289,497	267,912
Operating income	47,419	38,004	87,406	93,866
Other income (expense)	(4,543)	(4,617)	(4,359)	(10,921)
Earnings before income taxes	42,876	33,387	83,047	82,945
Income taxes	7,986	5,922	14,557	4,486
Net earnings	34,890	27,465	68,490	78,459
Other comprehensive income (loss):
Foreign currency translation income (loss)	(25,518)	18,025	(4,262)	6,423
Unrealized gains (losses) on derivative instruments - cash flow hedges, net of tax amounts disclosed in Note 8	(45)	(3,670)	(3,072)	(4,020)
Other comprehensive income (loss)	(25,563)	14,355	(7,334)	2,403
Comprehensive income	$ 9,327	$ 41,820	$ 61,156	$ 80,862
Earnings per share:
Basic (in dollars per share)	$ 0.22	$ 0.17	$ 0.43	$ 0.5
Diluted (in dollars per share)	$ 0.22	$ 0.17	$ 0.42	$ 0.49
Weighted average common shares outstanding:
Basic (in shares)	158,431	157,533	158,481	157,826
Diluted (in shares)	160,626	160,060	161,353	161,001

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 177,549	$ 151,791
Short-term available-for-sale investments	0	1,072
Accounts receivable, less allowance for doubtful accounts of $4,904 and $4,386, respectively	217,940	241,394
Inventories	188,373	179,731
Current assets held-for-sale	1,047	9,773
Other current assets	49,731	33,658
Total current assets	634,640	617,419
Property and equipment, net	249,753	251,154
Right-of-use assets	85,383	91,285
Goodwill	964,607	972,663
Intangible assets, net	461,051	507,081
Other assets	274,990	264,265
Total assets	2,670,424	2,703,867
Current liabilities:
Trade accounts payable	33,120	37,968
Salaries, wages and related accruals	53,594	49,818
Accrued expenses	27,543	24,886
Contract liabilities	27,715	27,930
Income taxes payable	3,141	3,706
Operating lease liabilities - current	13,511	12,920
Other current liabilities	2,632	2,151
Total current liabilities	161,256	159,379
Deferred income taxes	37,723	55,863
Long-term debt obligations	300,000	319,000
Operating lease liabilities	81,616	87,618
Other long-term liabilities	11,337	13,157
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 157,915,999 and 158,216,258 respectively	1,579	1,582
Additional paid-in capital	875,864	820,337
Retained earnings	1,286,699	1,325,247
Accumulated other comprehensive loss	(85,650)	(78,316)
Total Bio-Techne's shareholders' equity	2,078,492	2,068,850
Total liabilities and shareholders' equity	$ 2,670,424	$ 2,703,867

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts	$ 5,632	$ 4,386
Undesignated capital stock, no par (in dollars per share)	$ 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)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	157,915,999	158,216,258
Common stock, shares outstanding (in shares)	157,915,999	158,216,258

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 68,490	$ 78,459
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	55,221	56,343
Costs recognized on sale of acquired inventory	373	364
Deferred income taxes	(13,417)	(22,314)
Stock-based compensation expense	24,892	22,846
Fair value adjustment to contingent consideration payable	0	(3,500)
Fair value adjustment on available-for-sale investments	0	(283)
(Gain) Loss on equity method investment	(420)	4,295
Asset impairment restructuring	9,841	0
Leases, net	492	1,196
Impairment of assets held-for-sale	0	6,038
Other operating activity	305	256
Change in operating assets and operating liabilities, net of acquisition:
Trade accounts and other receivables, net	20,940	20,333
Inventories	(11,713)	(9,577)
Prepaid expenses	(405)	(3,149)
Trade accounts payable, accrued expenses, contract liabilities, and other	(29)	5,382
Salaries, wages and related accruals	3,882	(4,305)
Income taxes payable	(10,217)	(9,885)
Net cash provided by (used in) operating activities	148,235	142,499
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of available-for-sale investments	1,085	23,759
Purchases of available-for-sale investments	0	(5,526)
Additions to property and equipment	(15,993)	(28,456)
Acquisitions, net of cash acquired	0	(169,707)
Distributions from (Investments in) Wilson Wolf	1,403	2,149
Investment in Spear Bio	(15,000)	0
Proceeds from sale of assets held-for-sale	1,789	0
Net cash provided by (used in) investing activities	(26,716)	(177,781)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends	(25,424)	(25,213)
Proceeds from stock option exercises	30,641	19,670
Re-purchases of common stock	(75,628)	(80,042)
Borrowings under line-of-credit agreement	0	225,000
Repayments of long-term debt	(19,000)	(128,000)
Taxes paid on RSUs and net share settlements	(5,997)	(21,302)
Net cash provided by (used in) financing activities	(95,408)	(9,887)
Effect of exchange rate changes on cash and cash equivalents	(353)	(5,270)
Net change in cash and cash equivalents	25,758	(50,439)
Cash and cash equivalents at beginning of period	151,791	180,571
Cash and cash equivalents at end of period	177,549	130,132
Supplemental disclosure of cash flow information:
Cash paid for income taxes	37,593	37,645
Cash paid for interest	$ 9,831	$ 8,586

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2024
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, 2024, included in the Company's Annual Report on Form 10-K for fiscal 2024. A summary of significant accounting policies followed by the Company is detailed in the Company's Annual Report on Form 10-K for fiscal 2024. The Company follows these policies in preparation of the interim unaudited Condensed Consolidated Financial Statements. The Company manages its business under two operating segments, Protein Sciences and Diagnostics and Spatial Biology (formerly Diagnostics and Genomics). The name change is intended to better reflect the focus and scope of our offerings. The manner in which we operate our business and review discrete financial information did not change. Segment information presented herein reflects the updated name of the operating segment. 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 2024. Investments In December 2021, the Company paid $25 million to enter into a two-part forward contract which requires the Company to make an initial ownership investment followed by purchase of full equity interest in Wilson Wolf Corporation (Wilson Wolf) if certain annual revenue or annual earnings before interest, taxes, depreciation, and amortization (EBITDA) thresholds are met. Wilson Wolf is a leading manufacturer of cell culture devices, including the G-Rex product line. The first part of the forward contract is triggered upon Wilson Wolf achieving approximately $92 million in annual revenue or $55 million in EBITDA at any point prior to December 31, 2027. During the quarter ended March 31, 2023, the Company determined that Wilson Wolf had met the EBITDA target. On March 31, 2023, the Company paid an additional $232 million to acquire 19.9% of Wilson Wolf. Since the first part of the forward contract has been 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 of approximately 4.4 times trailing twelve month revenue. 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 investment in Wilson Wolf is accounted for as an equity method investment under ASC 323. The Company initially records its equity method investments at the amount of the Company’s investment and adjusts each period for the Company’s share of the investee’s income or loss and dividends paid. Distributions from the equity method investee are accounted for using the cumulative earnings approach on the Consolidated Statement of Cash Flows. For the quarter ended December 31, 2024, the gain on the investment in Wilson Wolf was not material. In the six months ended December 31, 2024, there was $0.4 million of gain recorded on the Company’s Consolidated Statement of Earnings and Comprehensive Income related to the investment. The Company’s total investment of $241 million is included within Other assets on the Consolidated Balance Sheet. Restructuring actions Fiscal Year 2025 Restructuring Actions: In the first quarter of fiscal 2025, the Company announced enterprise-wide restructuring focused on recovering operating margins and optimizing our manufacturing footprint. The Company is expecting to incur costs related to these actions through fiscal 2026, which will be recorded when specified criteria are met. The restructuring and restructuring-related charges for periods presented were recorded in the Consolidated Statements of Earnings as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ ​ 2024 ​ 2024 Cost of sales ​ $ 2,691 ​ $ 7,589 Selling, general and administrative (1) ​ ​ 273 ​ ​ 5,644 Total ​ $ 2,964 ​ $ 13,233 (1) Restructuring and restructuring-related costs by segment are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, 2024 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ Total Protein Sciences ​ $ 39 ​ $ 2,755 ​ $ 2,794 Diagnostics and Spatial Biology ​ ​ (19) ​ ​ — ​ ​ (19) Corporate ​ ​ 185 ​ ​ 4 ​ ​ 189 Total ​ $ 205 ​ $ 2,759 ​ $ 2,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, 2024 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ Total Protein Sciences ​ $ 2,313 ​ $ 10,172 ​ $ 12,485 Diagnostics and Spatial Biology ​ ​ 425 ​ ​ — ​ ​ 425 Corporate ​ ​ 319 ​ ​ 4 ​ ​ 323 Total ​ $ 3,057 ​ $ 10,176 ​ $ 13,233 ​ ​ The following table summarizes the changes in the Company’s accrued restructuring balance, which is included within Other current liabilities in the accompanying balance sheet. Other amounts reported as restructuring and restructuring-related costs in the accompanying statements of income have been summarized in the notes to the table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance (1) impairment and other (2) Total Expense incurred in the first quarter of 2025 ​ $ 2,852 ​ $ 7,417 ​ $ 10,269 Cash payments ​ ​ (189) ​ ​ — ​ ​ (189) Non-cash adjustments ​ ​ — ​ ​ (7,417) ​ ​ (7,417) Accrued restructuring actions balance as of September 30, 2024 ​ $ 2,663 ​ $ — ​ $ 2,663 Expense incurred in the second quarter of 2025 ​ ​ 205 ​ ​ 2,759 ​ ​ 2,964 Cash payments ​ ​ (1,211) ​ ​ (335) ​ ​ (1,546) Non-cash adjustments ​ ​ — ​ ​ (2,424) ​ ​ (2,424) Accrued restructuring actions balance as of December 31, 2024 ​ $ 1,657 ​ $ — ​ $ 1,657 (1) (2) Fiscal Year 2024 Restructuring Actions: In the second quarter of fiscal 2024, the Company announced enterprise-wide restructuring focused on recovering operating margins, optimizing our distribution footprint, and enhancing our organization efficiency. These actions impacted approximately 4% of our global workforce. These actions continued through the second quarter of fiscal 2025 as we incurred charges relating to our business held-for-sale and consulting fees related to optimizing efficiency. The Company is expecting to incur costs related to these actions through the end of fiscal 2025, which will be recorded when specified criteria are met. As part of these actions, certain assets and liabilities associated with a disposal group in our Protein Sciences segment were classified as held-for-sale as of December 31, 2023, including $1.4 million of goodwill allocated to the disposal group on a relative fair value basis. As a result of an impairment test performed over the disposal group during fiscal 2024, a cumulative impairment charge of $22.0 million which includes the allocated goodwill, was recorded in the Selling, general and administrative line in the Consolidated Statements of Earnings for the year ended June 30, 2024. There were no impairment charges related to the disposal group during the first half of fiscal 2025. During the quarter ended December 31, 2024, the Company entered into an agreement with a buyer to purchase the remaining inventory for approximately $8 million. As part of the arrangement, the Company and the buyer entered into a promissory note that will mature in February 2027 and agrees that the buyer shall pay in quarterly installments. As of December 31, 2024, the fair value of the note receivable was approximately $6 million and is included within Other current assets and Other assets on the Condensed Consolidated Balance Sheet. As of December 31, 2024, the assets remaining within the disposal group primarily include the land and building of $1.0 million, which is net of expected selling costs. These assets are actively marketed at a fair value based on market conditions such that the held-for-sale criterion are still met. The held-for-sale assets are recorded in Current assets held-for-sale in our Consolidated Balance sheet as of December 31, 2024 and June 30, 2024. ​ The restructuring and restructuring-related charges, including the impairment of assets held-for-sale, for periods presented were recorded in the Condensed Consolidated Statements of Earnings as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ ​ ​ 2024 ​ ​ 2023 ​ ​ 2024 ​ ​ 2023 Cost of sales ​ $ — ​ $ 1,174 ​ $ — ​ $ 1,174 Selling, general and administrative (1) ​ ​ 323 ​ ​ 10,250 ​ ​ 1,076 ​ ​ 10,250 Total ​ $ 323 ​ $ 11,424 ​ $ 1,076 ​ $ 11,424 (1) ​ Restructuring and restructuring-related costs by segment are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, ​ ​ 2024 ​ 2023 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total Protein Sciences ​ $ (33) ​ $ 10 ​ $ — ​ $ (23) ​ $ 2,950 ​ $ 472 ​ $ 6,038 ​ $ 9,460 Diagnostics and Spatial Biology ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 739 ​ ​ — ​ ​ — ​ ​ 739 Corporate ​ ​ — ​ ​ 346 ​ ​ — ​ ​ 346 ​ ​ 1,193 ​ ​ 32 ​ ​ — ​ ​ 1,225 Total ​ $ (33) ​ $ 356 ​ $ — ​ $ 323 ​ $ 4,882 ​ $ 504 ​ $ 6,038 ​ $ 11,424 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, ​ ​ 2024 ​ 2023 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total Protein Sciences ​ $ (19) ​ $ 50 ​ $ — ​ $ 31 ​ $ 2,950 ​ $ 472 ​ $ 6,038 ​ $ 9,460 Diagnostics and Spatial Biology ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 739 ​ ​ — ​ ​ — ​ ​ 739 Corporate ​ ​ (3) ​ ​ 1,048 ​ ​ — ​ ​ 1,045 ​ ​ 1,193 ​ ​ 32 ​ ​ — ​ ​ 1,225 Total ​ $ (22) ​ $ 1,098 ​ $ — ​ $ 1,076 ​ $ 4,882 ​ $ 504 ​ $ 6,038 ​ $ 11,424 ​ The following table summarizes the changes in the Company’s accrued restructuring balance, which is included within Other current liabilities in the accompanying balance sheet. Other amounts reported as restructuring and restructuring-related costs in the accompanying statements of income have been summarized in the notes to the table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ ​ severance (1) ​ ​ and other (2) ​ ​ assets held-for-sale ​ ​ Total Expense incurred in the second quarter of 2024 ​ ​ 4,882 ​ ​ 504 ​ ​ 6,038 ​ ​ 11,424 Incremental expense incurred in the third quarter of 2024 ​ ​ 133 ​ ​ 1,140 ​ ​ — ​ ​ 1,273 Incremental expense incurred in the fourth quarter of 2024 ​ ​ 409 ​ ​ 4,737 ​ ​ 15,926 ​ ​ 21,072 Cash payments ​ ​ (4,882) ​ ​ (2,800) ​ ​ — ​ ​ (7,682) Non-cash adjustments ​ ​ — ​ ​ (3,391) ​ ​ (21,963) ​ ​ (25,354) Adjustments (3) ​ ​ 219 ​ ​ — ​ ​ — ​ ​ 219 Accrued restructuring actions balance as of June 30, 2024 ​ $ 761 ​ $ 190 ​ $ — ​ $ 952 Incremental expense incurred in the first quarter of 2025 ​ ​ — ​ ​ 753 ​ ​ — ​ ​ 753 Incremental expense incurred in the second quarter of 2025 ​ ​ (33) ​ ​ 356 ​ ​ — ​ ​ 323 Cash payments ​ ​ (551) ​ ​ (1,208) ​ ​ — ​ ​ (1,759) Accrued restructuring actions balance as of December 31, 2024 ​ $ 177 ​ $ 92 ​ $ — ​ $ 269 (1) (2) (3) Protein Sciences Realignment In December 2022, the Company informed employees it would undertake certain actions to strategically reallocate operations resources to high growth areas of the business. Additional actions were taken in June 2023 primarily related to the sales organization. The actions impacted a limited number of employees and were completed in the fourth quarter of fiscal 2024. As a result of the realignment, a pre-tax charge of $1.7 million related to employee severance was recorded in the Selling, general and administrative line of operating income within our Protein Sciences segment during the year ended June 30, 2023. Adjustments in fiscal year 2024 related to the refinement of employee severance payouts. Additional pre-tax charges for the year ended June 30, 2024 were $0.2 million. Restructuring actions, including cash and non-cash impacts, were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ severance Accrued restructuring actions balance as of June 30, 2023 ​ $ 897 Fiscal year 2024 cash payments ​ ​ (1,118) First quarter fiscal year 2024 adjustments (1) ​ ​ 89 Second quarter fiscal year 2024 adjustments (1) ​ ​ 132 Accrued restructuring actions balance as of June 30, 2024 ​ $ — (1) ​ Legal Matters ​ The Company records a liability in the consolidated financial statements on an undiscounted basis for loss contingencies related to legal actions when a loss is known or considered probable and the amount may be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and may be reasonably estimated, the estimated loss or range of loss is disclosed. When determining the estimated loss or range of loss, significant judgment is required. Estimates of probable losses resulting from litigation and governmental proceedings involving the Company are inherently difficult to predict, particularly when the matters are in early procedural stages with incomplete scientific facts or legal discovery, involve unsubstantiated or indeterminate claims for damages, potentially involve penalties, fines or punitive damages, or could result in a change in business practice. The Company classifies certain specified litigation charges and gains related to significant legal matters as certain litigation charges in the consolidated statements of income. ​ In August 2024, 794,400 shares of outstanding vested stock options related to former employees expired which have now been excluded from the Company’s dilutive EPS calculation for the period ended December 31, 2024. The expiration date of these options is currently under dispute. The total net pre-tax value of these options on the expiration date was approximately $32 million. As of December 31, 2024, the matter is under review and the Company is unable to estimate any future exposure related to this matter at this time. ​ The Company recognized $1.4 million and $1.7 million of certain litigation charges during the quarter and six months ended December 31, 2024. There was no comparable activity during the quarter and six months ended December 31, 2023. As of each of the balance sheet dates presented, there was no accrued litigation. The ultimate cost to the Company with respect to accrued litigation could be materially different than the amount of the current estimates and accruals and could have a material adverse impact on the Company’s consolidated earnings, financial position, and/or cash flows. The Company includes accrued litigation in Other current liabilities and Other liabilities on the consolidated balance sheets. While it is not possible to predict the outcome for the legal matters included within our litigation charges line, the Company believes it is possible that the costs associated with these matters could have a material adverse impact on the Company’s consolidated earnings, financial position, and/or cash flows. Recently Adopted Accounting Pronouncements There were no accounting pronouncements adopted in the quarter ended December 31, 2024. Refer to the Form 10-K for accounting pronouncements adopted prior to June 30, 2024. ​ Relevant New Standards Issued Not Yet Adopted ​ In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280) ​ In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740) ​ In November 2024, the FASB issued ASU 2024-03, Income Statement –Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) ​ Other than the items noted above, there have been no new accounting pronouncements not yet effective or adopted in the current year that we believe have a significant impact, or potential significant impact, on our unaudited condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Dec. 31, 2024
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. 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, 2024. Contracts with customers that contain instruments may include multiple performance obligations. For these contracts, the Company allocates the contract’s transaction price to each performance obligation on a relative standalone selling price basis. Allocation of the transaction price is determined at the contracts’ inception. ​ Payment terms for shipments to end-users are generally net 30 days. Payment terms for distributor shipments may range from 30 to 90 days. Service arrangements commonly call for payments in advance of performing the work (e.g. extended warranty and service contracts), upon completion of the service (e.g. custom development manufacturing) or a mix of both. Contract assets include revenues recognized in advance of billings. Contract assets are included within Other current assets in the accompanying balance sheet as the amount of time expected to lapse until the Company's right to consideration becomes unconditional is less than one year. We elected the practical expedient allowing us to expense contract costs that would otherwise be capitalized and amortized over a period of less than one year. Contract assets as of December 31, 2024 are not material. Contract liabilities include billings in excess of revenues recognized, such as those resulting from customer advances and deposits and unearned revenue on warranty contracts. Contract liabilities as of December 31, 2024 and June 30, 2024 were approximately $30.4 million and $30.2 million, respectively. Contract liabilities as of June 30, 2024 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, ​ ​ 2024 2023 ​ 2024 2023 ​ Consumables ​ $ 230,715 ​ $ 211,126 ​ $ 461,560 ​ $ 435,673 ​ Instruments ​ 30,868 ​ 29,825 ​ 57,074 ​ 54,685 ​ Services ​ 27,350 ​ 24,129 ​ 54,707 ​ 45,583 ​ Total product and services revenue, net ​ $ 288,933 ​ $ 265,080 ​ $ 573,341 ​ $ 535,941 ​ Royalty revenues ​ 8,098 ​ 7,518 ​ 13,148 ​ 13,592 ​ Total revenues, net ​ $ 297,031 ​ $ 272,598 ​ $ 586,489 ​ $ 549,533 ​ ​ ​ Revenue by geography is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2024 2023 ​ 2024 2023 ​ ​ ​ ​ ​ ​ United States ​ $ 159,906 ​ $ 147,793 ​ $ 324,921 ​ $ 306,898 EMEA, excluding United Kingdom ​ 70,392 ​ 62,538 ​ 129,455 ​ 117,334 United Kingdom ​ 13,243 ​ 10,675 ​ 27,187 ​ 23,126 APAC, excluding Greater China ​ 19,010 ​ 19,042 ​ 37,131 ​ 36,392 Greater China ​ 24,754 ​ 24,459 ​ 49,074 ​ 49,944 Rest of World ​ 9,726 ​ 8,091 ​ 18,721 ​ 15,839 Net sales ​ $ 297,031 ​ $ 272,598 ​ $ 586,489 ​ $ 549,533 ​

Selected Balance Sheet Data

Selected Balance Sheet Data	6 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Supplemental Balance Sheet and Cash Flow Information	Note 3. Selected Balance Sheet Data: Inventories: Inventories consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ ​ 2024 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ Raw materials ​ $ 83,960 ​ $ 79,377 ​ Finished goods (1) ​ 110,153 ​ 106,072 ​ Inventories, net ​ $ 194,113 ​ $ 185,449 ​ (1) Finished goods inventory of $5,740 and $5,718 included within Other long-term assets in the respective December 31, 2024 and June 30, 2024, 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, ​ ​ 2024 2024 ​ Land ​ $ 8,104 ​ $ 8,150 ​ Buildings and improvements ​ 249,193 ​ 243,863 ​ Machinery and equipment ​ ​ 235,984 ​ ​ 215,948 ​ Construction in progress ​ 26,785 ​ 39,749 ​ Property and equipment, cost ​ 520,066 ​ 507,710 ​ Accumulated depreciation and amortization ​ (270,313) ​ (256,556) ​ Property and equipment, net ​ $ 249,753 ​ $ 251,154 ​ ​ Intangible Assets: Intangible assets consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ ​ ​ 2024 ​ 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ Developed technology ​ $ 675,072 ​ $ 675,674 ​ Tradenames ​ 151,066 ​ 151,561 ​ Customer relationships ​ 210,881 ​ 211,276 ​ Patents ​ 4,736 ​ 4,343 ​ Other intangibles ​ 7,161 ​ 12,006 ​ Definite-lived intangible assets ​ 1,048,916 ​ 1,054,860 ​ Accumulated amortization ​ (587,865) ​ (547,779) ​ Total intangible assets, net ​ $ 461,051 ​ $ 507,081 ​ ​ Changes to the carrying amount of net intangible assets for the period ended December 31, 2024 consist of (in thousands): ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ ​ ​ ​ Beginning balance ​ $ 507,081 Other additions ​ 249 Amortization expense ​ (38,911) Restructuring impairment ​ ​ (7,050) Currency translation ​ ​ (318) Ending balance ​ $ 461,051 ​ The estimated future amortization expense for intangible assets as of December 31, 2024 is as follows (in thousands): ​ ​ ​ ​ ​ Remainder 2025 $ 37,819 2026 ​ 72,318 2027 ​ 62,182 2028 ​ 58,478 2029 ​ 45,912 Thereafter ​ 184,342 Total ​ $ 461,051 ​ ​ Goodwill: ​ Changes to the carrying amount of goodwill for the period ended December 31, 2024 consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics and ​ ​ ​ Protein Sciences ​ Spatial Biology ​ Total June 30, 2024 ​ $ 423,449 ​ $ 549,214 ​ $ 972,663 Currency translation ​ (3,642) ​ ​ (4,414) ​ ​ (8,056) December 31, 2024 ​ $ 419,807 ​ $ 544,800 ​ $ 964,607 ​ 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 qualitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2024. No indicators of impairment were identified as part of our assessment. ​ Other Assets: ​ Other assets consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ 2024 ​ 2024 ​ ​ ​ ​ ​ ​ ​ Equity method investment in Wilson Wolf ​ $ 241,354 ​ $ 242,337 Derivative instruments ​ ​ 3,227 ​ ​ 9,813 Long-term inventory ​ ​ 5,740 ​ ​ 5,718 Investment in Spear Bio ​ ​ 15,000 ​ ​ — Other ​ 9,669 ​ 6,397 Other assets ​ $ 274,990 ​ $ 264,265 ​

Acquisitions

Acquisitions	6 Months Ended
	Dec. 31, 2024
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 Earnings and Comprehensive Income from their respective dates of acquisitions. Acquisition costs are recorded in selling, general and administrative expenses as incurred. There were no acquisitions in the first half of fiscal 2025. ​ Fiscal year 2024 Acquisitions Lunaphore Technologies SA. On July 7, 2023, the Company acquired all of the ownership interests of Lunaphore Technologies SA (“Lunaphore”) for $169.7 million, in a cash-free, debt-free acquisition. Lunaphore is a leading developer of fully automated spatial biology solutions. The Lunaphore acquisition adds spatial biology instruments to Bio-Techne’s portfolio to accelerate our leadership position in translational and clinical research markets. 805, Business Combinations . The allocation of purchase price consideration related to Lunaphore was completed in the fourth quarter of fiscal 2024. The fair values of the assets acquired and liabilities assumed as of June 30, 2024 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Final allocation at June 30, 2024 Current assets $ 12,155 Equipment and other long-term assets 1,470 Goodwill 104,650 Intangible assets: ​ ​ Developed technologies 60,300 Tradenames 4,900 Customer relationships 1,200 Total assets acquired 184,675 ​ ​ ​ Liabilities 7,096 Deferred income taxes, net 7,872 Net assets acquired $ 169,707 ​ ​ ​ Cash paid 169,707 ​ ​ Tangible assets and liabilities acquired were recorded at fair value on the date of close based on management's assessment. The purchase price allocated to developed technology and customer relationships was based on management’s forecasted cash inflows and outflows and using a multiperiod excess earnings method to calculate the fair value of assets purchased. The purchase price allocated to trade names was based on management's forecasted cash inflows and outflows and using a relief from royalty 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 14 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 8 years. The amount recorded for trade names 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 trade names ranges from 4 years to 8 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 calculation of acquired net operating losses.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2024
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 ​ Balance Sheet Location ​ December 31, ​ Inputs Considered as ​ ​ ​ 2024 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ Derivatives designated as hedging instruments - cash flow hedges Other current assets ​ $ 6,063 ​ $ — ​ $ 6,063 ​ $ — Derivatives designated as hedging instruments - cash flow hedges Other assets ​ ​ 528 ​ ​ — ​ ​ 528 ​ ​ — Derivatives designated as hedging instruments - net investment hedge Other assets ​ ​ 2,699 ​ ​ — ​ ​ 2,699 ​ ​ — Total assets ​ ​ $ 9,290 ​ $ — ​ $ 9,290 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ Fair Value Measurements Using ​ Balance Sheet Location ​ June 30, ​ Inputs Considered as ​ ​ 2024 Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ Certificates of deposit (1) Short-term available-for-sale investments ​ $ 1,072 ​ $ 1,072 ​ $ — ​ $ — Derivatives designated as hedging instruments - cash flow hedges Other current assets ​ ​ 805 ​ ​ — ​ ​ 805 ​ ​ — Derivatives designated as hedging instruments - cash flow hedges Other assets ​ 9,813 ​ — ​ 9,813 ​ — Total assets ​ ​ $ 11,690 ​ $ 1,072 ​ $ 10,618 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ Derivatives designated as hedging instruments - net investment hedge Other long-term liabilities ​ $ 2,051 ​ $ — ​ $ 2,051 ​ $ — Total liabilities ​ ​ $ 2,051 ​ $ — ​ $ 2,051 ​ $ — (1) The certificates of deposit have contractual maturity dates within one year. ​ Fair value measurements of derivative instruments The Company utilizes forward starting swaps designated as a cash flow hedge on forecasted debt. The forward starting swaps reduce 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 swaps, the Company exchanges, at specified intervals, the difference between floating and fixed interest amounts based on a notional principal amount. The Company also uses a cross-currency swap contract to manage its exposure to foreign currency risk associated with the Company's net investment in its Swiss subsidiary. The following table presents the contractual amounts of the Company's outstanding instruments (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, Instruments ​ Designation 2024 ​ 2024 Forward starting swaps (1) ​ Cash flow hedge ​ $ 300 ​ $ 300 Cross-currency swap (2) ​ Net investment hedge ​ ​ 140 ​ ​ 150 ​ (1) (2) The pretax amount of the gains and losses on our hedging instruments and the classification of those gains and losses within our Consolidated Financial Statements for the three and six months ended December 31, 2024 and 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Gain) Loss Recognized in Accumulated Other Comprehensive Loss ​ ​ Quarter Ended ​ Six Months Ended ​ ​ ​ December 31, ​ December 31, ​ ​ 2024 2023 ​ 2024 ​ 2023 Cash flow hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward starting swaps ​ ​ $ 1,689 $ 5,669 ​ $ 6,699 ​ $ 7,956 Net investment hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cross-currency swap ​ ​ ​ (7,690) ​ 7,545 ​ ​ (2,525) ​ ​ 7,243 Total ​ ​ $ (6,001) ​ $ 13,214 ​ $ 4,174 ​ $ 15,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Gain) Loss Reclassified into Income ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ Location of (Gain) Loss ​ ​ 2024 2023 ​ 2024 ​ 2023 ​ in Income Statement Cash flow hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward starting swaps ​ ​ $ (2,155) $ (2,620) ​ $ (4,754) ​ $ (5,159) ​ Interest expense Net investment hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cross-currency swap ​ ​ ​ (660) ​ (837) ​ ​ (1,442) ​ ​ (1,535) ​ Interest expense Total ​ ​ $ (2,815) ​ $ (3,457) ​ $ (6,196) ​ $ (6,694) ​ ​ ​ ​ ​ ​ ​ Gains or losses related to the net investment hedges are classified as foreign currency translation adjustments in the schedule of changes in Accumulated Other Comprehensive Income (“AOCI”) in Note 8, as these items are attributable to the Company’s hedges of its net investment in foreign operations. Gains or losses related to the cash flow hedges are classified as Unrealized gains (losses) on cash flow hedges in the schedule of changes in AOCI in Note 8. 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, 2024
Notes to Financial Statements
Debt and Other Financing Arrangements	Note 6. Debt and Other Financing Arrangements: On August 31, 2022, the Company entered into a revolving line-of-credit and term loan by a Credit Agreement (the Credit Agreement). The 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 Credit Agreement may be used for working capital and expenditures of the Company and its subsidiaries, including financing permitted acquisitions. Borrowings under the 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 Credit Agreement matures on August 31, 2027 and contains customary restrictive and financial covenants and customary events of default. As of December 31, 2024, the outstanding balance under the Credit Agreement was $300.0 million.

Leases

Leases	6 Months Ended
	Dec. 31, 2024
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 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, 2024, the Company recognized $2.6 million in variable lease expense and $8.7 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 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ ​ ​ ​ December 31, ​ ​ Balance Sheet Classification ​ 2024 Operating leases: ​ ​ ​ Operating lease right-of-use assets ​ Right-of-use asset ​ $ 85,383 ​ ​ ​ ​ ​ ​ ​ ​ Current operating lease liabilities ​ Operating lease liabilities - current ​ $ 13,511 Noncurrent operating lease liabilities ​ Operating lease liabilities ​ 81,616 Total operating lease liabilities ​ ​ ​ ​ $ 95,127 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years): ​ ​ ​ 8.09 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate (%): ​ ​ ​ 4.26 ​ 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, 2024 (in thousands): ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ December 31, ​ 2024 Cash amounts paid on operating lease liabilities ​ $ 8,068 ​ ​ ​ ​ Right-of-use assets obtained in exchange for lease liabilities ​ $ 1,321 ​ 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, ​ ​ 2024 Remainder 2025 ​ $ 8,399 2026 ​ 16,568 2027 ​ 13,732 2028 ​ 13,569 2029 ​ 13,115 Thereafter ​ 48,159 Total ​ $ 113,542 Less: Amounts representing interest ​ 18,415 Total lease obligations ​ $ 95,127 ​ 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) Information	6 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information	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 the three and six months ended December 31, 2024 and 2023, respectively. ​ Consolidated Changes in Equity (amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bio-Techne Shareholders ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ ​ Common Stock ​ Paid-in ​ Retained ​ Comprehensive ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Total Balances at June 30, 2024 158,216 ​ $ 1,582 ​ $ 820,337 ​ $ 1,325,247 ​ $ (78,316) ​ $ 2,068,850 Net earnings ​ ​ ​ ​ ​ ​ ​ 33,600 ​ ​ ​ 33,600 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ 18,229 ​ 18,229 Common stock issued for exercise of options 577 ​ 6 ​ 23,224 ​ (2,338) ​ ​ ​ 20,892 Common stock issued for restricted stock awards 50 ​ ​ 1 ​ 1 ​ (2,646) ​ ​ ​ (2,644) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,688) ​ ​ ​ (12,688) Stock-based compensation expense ​ ​ ​ ​ 10,146 ​ ​ ​ ​ ​ 10,146 Common stock issued to employee stock purchase plan 35 ​ ​ 0 ​ 2,227 ​ ​ ​ ​ ​ 2,227 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 38 ​ ​ ​ ​ ​ ​ ​ ​ 38 Balances at September 30, 2024 158,878 ​ $ 1,589 ​ $ 855,973 ​ $ 1,341,175 ​ $ (60,087) ​ $ 2,138,650 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 34,890 ​ ​ ​ ​ 34,890 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (25,563) ​ ​ (25,563) Share repurchases (1,118) ​ ​ (11) ​ ​ ​ ​ ​ (75,617) ​ ​ ​ ​ (75,628) Common stock issued for exercise of options 132 ​ ​ 1 ​ ​ 5,183 ​ ​ (20) ​ ​ ​ ​ 5,164 Common stock issued for restricted stock awards 24 ​ ​ 0 ​ ​ 0 ​ ​ (993) ​ ​ ​ ​ (993) Cash dividends ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,736) ​ ​ ​ ​ (12,736) Stock-based compensation expense ​ ​ ​ ​ ​ ​ 14,335 ​ ​ ​ ​ ​ ​ ​ 14,335 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 373 ​ ​ ​ ​ ​ ​ ​ ​ 373 Balances at December 31, 2024 157,916 ​ $ 1,579 ​ $ 875,864 ​ $ 1,286,699 ​ $ (85,650) ​ $ 2,078,492 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bio-Techne Shareholders ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ ​ Common Stock ​ Paid-in ​ Retained ​ Comprehensive ​ ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Total Balances at June 30, 2023 157,642 ​ $ 1,576 ​ $ 721,543 ​ $ 1,309,461 ​ $ (66,064) ​ $ 1,966,516 Net earnings ​ ​ ​ ​ ​ ​ ​ 50,993 ​ ​ ​ 50,993 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ (11,952) ​ (11,952) Common stock issued for exercise of options 633 ​ 6 ​ 12,877 ​ (15,460) ​ ​ ​ (2,577) Common stock issued for restricted stock awards 47 ​ ​ 1 ​ 0 ​ (4,768) ​ ​ ​ (4,767) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,654) ​ ​ ​ (12,654) Stock-based compensation expense ​ ​ ​ ​ 9,981 ​ ​ ​ ​ ​ 9,981 Common stock issued to employee stock purchase plan 33 ​ ​ 1 ​ 2,093 ​ ​ ​ ​ ​ 2,094 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 112 ​ ​ ​ ​ ​ ​ ​ ​ 112 Balances at September 30, 2023 158,355 ​ $ 1,584 ​ $ 746,606 ​ $ 1,327,572 ​ $ (78,016) ​ $ 1,997,746 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 27,465 ​ ​ ​ ​ 27,465 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 14,355 ​ ​ 14,355 Share repurchases (1,397) ​ ​ (14) ​ ​ ​ ​ ​ (80,028) ​ ​ ​ ​ (80,042) Common stock issued for exercise of options 157 ​ ​ 1 ​ ​ 4,914 ​ ​ (1,074) ​ ​ ​ ​ 3,841 Common stock issued for restricted stock awards 27 ​ ​ 0 ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ 0 Cash dividends ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,559) ​ ​ ​ ​ (12,559) Stock-based compensation expense ​ ​ ​ ​ ​ ​ 12,413 ​ ​ ​ ​ ​ ​ ​ 12,413 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 340 ​ ​ ​ ​ ​ ​ ​ ​ 340 Balances at December 31, 2023 157,142 ​ $ 1,571 ​ $ 764,273 ​ $ 1,261,376 ​ $ (63,661) ​ $ 1,963,559 ​ ​ 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 accumulated balances related to each component of Other comprehensive income (loss) are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, 2024 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of September 30, 2024, net of tax ​ $ 5,075 ​ $ (65,162) ​ $ (60,087) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (1,689) ​ ​ (26,021) ​ ​ (27,710) Amounts reclassified out ​ ​ 2,155 ​ ​ 660 ​ ​ 2,815 Total other comprehensive income (loss), before tax ​ ​ 466 ​ ​ (25,361) ​ ​ (24,895) Tax (expense)/benefit ​ ​ (511) ​ ​ (157) ​ ​ (668) Total other comprehensive income (loss), net of tax ​ (45) ​ ​ (25,518) ​ ​ (25,563) Balance as of December 31, 2024, net of tax ​ $ 5,030 ​ $ (90,680) ​ $ (85,650) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, 2023 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of September 30, 2023 net of tax: ​ $ 12,512 ​ $ (90,528) ​ $ (78,016) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (5,669) ​ ​ 17,387 ​ ​ 11,718 Amounts reclassified out ​ ​ 2,620 ​ ​ 837 ​ ​ 3,457 Total other comprehensive income (loss), before tax ​ ​ (3,049) ​ ​ 18,224 ​ ​ 15,175 Tax (expense)/benefit ​ ​ (621) ​ ​ (199) ​ ​ (820) Total other comprehensive income (loss), net of tax ​ (3,670) ​ ​ 18,025 ​ ​ 14,355 Balance as of December 31, 2023, net of tax ​ $ 8,842 ​ $ (72,503) ​ $ (63,661) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, 2024 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2024, net of tax: ​ $ 8,102 ​ $ (86,418) ​ $ (78,316) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (6,699) ​ ​ (5,362) ​ ​ (12,061) Amounts reclassified out ​ ​ 4,754 ​ ​ 1,442 ​ ​ 6,196 Total other comprehensive income (loss), before tax ​ ​ (1,945) ​ ​ (3,920) ​ ​ (5,865) Tax (expense)/benefit ​ ​ (1,127) ​ ​ (342) ​ ​ (1,469) Total other comprehensive income (loss), net of tax ​ (3,072) ​ ​ (4,262) ​ ​ (7,334) Balance as of December 31, 2024, net of tax (1) ​ $ 5,030 ​ $ (90,680) ​ $ (85,650) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, 2023 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2023, net of tax: ​ $ 12,862 ​ $ (78,926) ​ $ (66,064) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (7,956) ​ ​ 5,252 ​ ​ (2,704) Amounts reclassified out ​ ​ 5,159 ​ ​ 1,535 ​ ​ 6,694 Total other comprehensive income (loss), before tax ​ ​ (2,797) ​ ​ 6,787 ​ ​ 3,990 Tax (expense)/benefit ​ ​ (1,223) ​ ​ (364) ​ ​ (1,587) Total other comprehensive income (loss), net of tax ​ (4,020) ​ ​ 6,423 ​ ​ 2,403 Balance as of December 31, 2023, net of tax (1) ​ $ 8,842 ​ $ (72,503) ​ $ (63,661) ​ (1) ​ Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within foreign currency translation adjustments do include impacts from the net investment hedge.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2024
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, ​ ​ 2024 2023 ​ 2024 2023 ​ Earnings per share – basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ​ $ 34,890 $ 27,465 ​ $ 68,490 $ 78,459 ​ Income allocated to participating securities ​ (3) ​ (3) ​ (12) ​ (13) ​ Income available to common shareholders ​ $ 34,887 ​ $ 27,462 ​ $ 68,478 ​ $ 78,446 ​ Weighted-average shares outstanding – basic ​ 158,431 ​ 157,533 ​ 158,481 ​ 157,826 ​ Earnings per share – basic ​ $ 0.22 ​ $ 0.17 ​ $ 0.43 ​ $ 0.50 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share – diluted: ​ ​ ​ ​ ​ Net earnings ​ $ 34,890 ​ $ 27,465 ​ $ 68,490 ​ $ 78,459 ​ Income allocated to participating securities ​ (3) ​ (3) ​ (12) ​ (13) ​ Income available to common shareholders ​ $ 34,887 ​ $ 27,462 ​ $ 68,478 ​ $ 78,446 ​ Weighted-average shares outstanding – basic ​ 158,431 ​ 157,533 ​ 158,481 ​ 157,826 ​ Dilutive effect of stock options and restricted stock units ​ 2,195 ​ 2,527 ​ 2,872 ​ 3,175 ​ Weighted-average common shares outstanding – diluted ​ 160,626 ​ 160,060 ​ 161,353 ​ 161,001 ​ Earnings per share – diluted ​ $ 0.22 ​ $ 0.17 ​ $ 0.42 ​ $ 0.49 ​ ​ 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 4.1 million and 6.2 million for the quarter ended December 31, 2024 and 2023, respectively, and 3.6 million and 4.1 million for the six months ended December 31, 2024 and 2023, respectively.

Share-based Compensation

Share-based Compensation	6 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Share-based Compensation	Note 10. Share-based Compensation: During the six months ended December 31, 2024 and 2023, the Company granted 0.8 million and 0.9 million stock options at weighted average grant prices of $74.65 and $81.49 and weighted average fair values of $25.43 and $27.83, respectively. During the six months ended December 31, 2024 and 2023, the Company granted 0.5 million and 0.3 million restricted stock units at a weighted average fair value of $74.96 and $79.26, respectively. During the six months ended December 31, 2024 and 2023, the Company granted 11,696 and 27,196 shares of restricted common stock shares at a weighted average fair value of $68.37 and $56.98. Stock options for 0.8 million and 1.2 million shares of common stock with total intrinsic values of $28.3 million and $61.6 million were exercised during the six months ended December 31, 2024 and 2023, respectively. ​ Stock-based compensation expense, inclusive of payroll taxes, of $14.5 million and $12.4 million was included in selling, general and administrative expenses for the quarter ended December 31, 2024 and 2023, respectively. Stock-based compensation expenses, inclusive of payroll taxes, of $24.8 million and $23.5 million was included in selling, general, and administrative expenses for the six months ended December 31, 2024 and 2023, respectively. Additionally, the Company recognized $0.4 million and $0.7 million of stock-based compensation costs in cost of goods sold in the quarter and six months ended December 31, 2024, respectively, compared to $0.3 million and $0.5 million in cost of goods sold in the comparative prior year periods. As of December 31, 2024, there was $62.6 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 2.1 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 $0.4 million for the quarter ended December 31, 2024 and $0.3 million for the quarter ended December 31, 2023. The Company recorded expense of $0.4 million and $0.5 million for the six months ended December 31, 2024 and 2023, respectively.

Other Income _ (Expense)

Other Income / (Expense)	6 Months Ended
	Dec. 31, 2024
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, ​ ​ 2024 2023 ​ 2024 2023 Interest expense ​ $ (2,148) ​ $ (4,329) ​ $ (4,324) ​ $ (9,222) ​ Interest income ​ ​ 1,348 ​ ​ 816 ​ ​ 2,274 ​ ​ 1,706 ​ Gain (loss) on investment ​ ​ — ​ ​ — ​ ​ — ​ ​ 283 ​ Gain (loss) on equity method investment ​ ​ 46 ​ ​ (1,914) ​ ​ 420 ​ ​ (4,204) ​ Other non-operating income (expense), net ​ (3,789) ​ 810 ​ ​ (2,729) ​ 516 ​ Total other income (expense) ​ $ (4,543) ​ $ (4,617) ​ $ (4,359) ​ $ (10,921) ​ ​

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Income Taxes	Note 12. Income Taxes: The Company’s effective income tax rate for the second quarter of fiscal 2025 and 2024 was 18.6% and 17.7%, respectively, of consolidated earnings before income taxes, inclusive of discrete items, and 17.5% and 5.4% for the first six months of fiscal 2025 and 2024, respectively. The change in the Company’s tax rate for the quarter and six months ended December 31, 2024 compared to the quarter and six months ended December 31, 2023 was driven by discrete tax items. The Company recognized total net benefits related to discrete tax items of $2.2 million and $5.2 million during the quarter and six months ended December 31, 2024, respectively, compared to total net benefits of $2.8 million and $16.3 million during the quarter and six months ended December 31, 2023, respectively. Share-based compensation excess tax benefit contributed $1.0 million and $4.3 million in the quarter and six months ended December 31, 2024, respectively, compared to $1.3 million and $11.7 million in the quarter and six months, ended December 31, 2023, respectively. During the quarter and six months ended December 31, 2024, the Company had total other immaterial discrete tax benefits of $1.2 million and $0.9 million, respectively. The Company recognized total other immaterial net discrete tax benefits of $1.5 million and $4.6 million in the quarter and six months ended December 31, 2023, respectively.

Segment Information

Segment Information	6 Months Ended
	Dec. 31, 2024
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 Spatial Biology 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, ​ 2024 2023 ​ 2024 2023 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ Protein Sciences ​ $ 211,551 $ 197,670 ​ $ 416,086 $ 402,325 Diagnostics and Spatial Biology ​ 84,135 ​ 75,408 ​ 167,327 ​ 148,204 Other revenue (1) ​ ​ 1,849 ​ ​ — ​ ​ 4,152 ​ ​ — Intersegment ​ (504) ​ (480) ​ (1,076) ​ (996) Consolidated net sales ​ $ 297,031 $ 272,598 ​ $ 586,489 $ 549,533 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Protein Sciences ​ $ 87,112 $ 79,586 ​ $ 167,653 $ 167,947 Diagnostics and Spatial Biology ​ 3,240 ​ 4,556 ​ 7,517 ​ 5,082 Segment operating income ​ $ 90,352 ​ $ 84,142 ​ $ 175,170 ​ $ 173,029 Costs recognized on sale of acquired inventory ​ (185) ​ (183) ​ (373) ​ (364) Amortization of intangibles ​ (18,559) ​ (19,769) ​ (38,300) ​ (39,620) Acquisition related expenses and other ​ (2,010) ​ 525 ​ (3,523) ​ 1,114 Certain litigation charges ​ ​ (1,386) ​ ​ — ​ ​ (1,678) ​ ​ — Impairment of assets held-for-sale ​ ​ — ​ ​ (6,038) ​ ​ — ​ ​ (6,038) Stock based compensation, inclusive of employer taxes ​ (15,238) ​ (12,958) ​ (25,875) ​ (24,453) Restructuring and restructuring-related costs ​ (3,287) ​ (5,518) ​ (14,309) ​ (5,607) Corporate general, selling, and administrative expenses ​ (1,641) ​ (2,197) ​ (3,227) ​ (4,195) Impact of business held-for-sale (1) ​ ​ (627) ​ ​ — ​ ​ (479) ​ ​ — Consolidated operating income ​ $ 47,419 $ 38,004 ​ $ 87,406 $ 93,866 (1)

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Subsequent Events	Note 14. Subsequent Events: None.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 34,890	$ 27,465	$ 68,490	$ 78,459

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2024
Policy Text Block [Abstract]
Investments	Investments In December 2021, the Company paid $25 million to enter into a two-part forward contract which requires the Company to make an initial ownership investment followed by purchase of full equity interest in Wilson Wolf Corporation (Wilson Wolf) if certain annual revenue or annual earnings before interest, taxes, depreciation, and amortization (EBITDA) thresholds are met. Wilson Wolf is a leading manufacturer of cell culture devices, including the G-Rex product line. The first part of the forward contract is triggered upon Wilson Wolf achieving approximately $92 million in annual revenue or $55 million in EBITDA at any point prior to December 31, 2027. During the quarter ended March 31, 2023, the Company determined that Wilson Wolf had met the EBITDA target. On March 31, 2023, the Company paid an additional $232 million to acquire 19.9% of Wilson Wolf. Since the first part of the forward contract has been 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 of approximately 4.4 times trailing twelve month revenue. 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 investment in Wilson Wolf is accounted for as an equity method investment under ASC 323. The Company initially records its equity method investments at the amount of the Company’s investment and adjusts each period for the Company’s share of the investee’s income or loss and dividends paid. Distributions from the equity method investee are accounted for using the cumulative earnings approach on the Consolidated Statement of Cash Flows. For the quarter ended December 31, 2024, the gain on the investment in Wilson Wolf was not material. In the six months ended December 31, 2024, there was $0.4 million of gain recorded on the Company’s Consolidated Statement of Earnings and Comprehensive Income related to the investment. The Company’s total investment of $241 million is included within Other assets on the Consolidated Balance Sheet.
Restructuring actions	Restructuring actions Fiscal Year 2025 Restructuring Actions: In the first quarter of fiscal 2025, the Company announced enterprise-wide restructuring focused on recovering operating margins and optimizing our manufacturing footprint. The Company is expecting to incur costs related to these actions through fiscal 2026, which will be recorded when specified criteria are met. The restructuring and restructuring-related charges for periods presented were recorded in the Consolidated Statements of Earnings as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ ​ 2024 ​ 2024 Cost of sales ​ $ 2,691 ​ $ 7,589 Selling, general and administrative (1) ​ ​ 273 ​ ​ 5,644 Total ​ $ 2,964 ​ $ 13,233 (1) Restructuring and restructuring-related costs by segment are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, 2024 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ Total Protein Sciences ​ $ 39 ​ $ 2,755 ​ $ 2,794 Diagnostics and Spatial Biology ​ ​ (19) ​ ​ — ​ ​ (19) Corporate ​ ​ 185 ​ ​ 4 ​ ​ 189 Total ​ $ 205 ​ $ 2,759 ​ $ 2,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, 2024 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ Total Protein Sciences ​ $ 2,313 ​ $ 10,172 ​ $ 12,485 Diagnostics and Spatial Biology ​ ​ 425 ​ ​ — ​ ​ 425 Corporate ​ ​ 319 ​ ​ 4 ​ ​ 323 Total ​ $ 3,057 ​ $ 10,176 ​ $ 13,233 ​ ​ The following table summarizes the changes in the Company’s accrued restructuring balance, which is included within Other current liabilities in the accompanying balance sheet. Other amounts reported as restructuring and restructuring-related costs in the accompanying statements of income have been summarized in the notes to the table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance (1) impairment and other (2) Total Expense incurred in the first quarter of 2025 ​ $ 2,852 ​ $ 7,417 ​ $ 10,269 Cash payments ​ ​ (189) ​ ​ — ​ ​ (189) Non-cash adjustments ​ ​ — ​ ​ (7,417) ​ ​ (7,417) Accrued restructuring actions balance as of September 30, 2024 ​ $ 2,663 ​ $ — ​ $ 2,663 Expense incurred in the second quarter of 2025 ​ ​ 205 ​ ​ 2,759 ​ ​ 2,964 Cash payments ​ ​ (1,211) ​ ​ (335) ​ ​ (1,546) Non-cash adjustments ​ ​ — ​ ​ (2,424) ​ ​ (2,424) Accrued restructuring actions balance as of December 31, 2024 ​ $ 1,657 ​ $ — ​ $ 1,657 (1) (2) Fiscal Year 2024 Restructuring Actions: In the second quarter of fiscal 2024, the Company announced enterprise-wide restructuring focused on recovering operating margins, optimizing our distribution footprint, and enhancing our organization efficiency. These actions impacted approximately 4% of our global workforce. These actions continued through the second quarter of fiscal 2025 as we incurred charges relating to our business held-for-sale and consulting fees related to optimizing efficiency. The Company is expecting to incur costs related to these actions through the end of fiscal 2025, which will be recorded when specified criteria are met. As part of these actions, certain assets and liabilities associated with a disposal group in our Protein Sciences segment were classified as held-for-sale as of December 31, 2023, including $1.4 million of goodwill allocated to the disposal group on a relative fair value basis. As a result of an impairment test performed over the disposal group during fiscal 2024, a cumulative impairment charge of $22.0 million which includes the allocated goodwill, was recorded in the Selling, general and administrative line in the Consolidated Statements of Earnings for the year ended June 30, 2024. There were no impairment charges related to the disposal group during the first half of fiscal 2025. During the quarter ended December 31, 2024, the Company entered into an agreement with a buyer to purchase the remaining inventory for approximately $8 million. As part of the arrangement, the Company and the buyer entered into a promissory note that will mature in February 2027 and agrees that the buyer shall pay in quarterly installments. As of December 31, 2024, the fair value of the note receivable was approximately $6 million and is included within Other current assets and Other assets on the Condensed Consolidated Balance Sheet. As of December 31, 2024, the assets remaining within the disposal group primarily include the land and building of $1.0 million, which is net of expected selling costs. These assets are actively marketed at a fair value based on market conditions such that the held-for-sale criterion are still met. The held-for-sale assets are recorded in Current assets held-for-sale in our Consolidated Balance sheet as of December 31, 2024 and June 30, 2024. ​ The restructuring and restructuring-related charges, including the impairment of assets held-for-sale, for periods presented were recorded in the Condensed Consolidated Statements of Earnings as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ ​ ​ 2024 ​ ​ 2023 ​ ​ 2024 ​ ​ 2023 Cost of sales ​ $ — ​ $ 1,174 ​ $ — ​ $ 1,174 Selling, general and administrative (1) ​ ​ 323 ​ ​ 10,250 ​ ​ 1,076 ​ ​ 10,250 Total ​ $ 323 ​ $ 11,424 ​ $ 1,076 ​ $ 11,424 (1) ​ Restructuring and restructuring-related costs by segment are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, ​ ​ 2024 ​ 2023 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total Protein Sciences ​ $ (33) ​ $ 10 ​ $ — ​ $ (23) ​ $ 2,950 ​ $ 472 ​ $ 6,038 ​ $ 9,460 Diagnostics and Spatial Biology ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 739 ​ ​ — ​ ​ — ​ ​ 739 Corporate ​ ​ — ​ ​ 346 ​ ​ — ​ ​ 346 ​ ​ 1,193 ​ ​ 32 ​ ​ — ​ ​ 1,225 Total ​ $ (33) ​ $ 356 ​ $ — ​ $ 323 ​ $ 4,882 ​ $ 504 ​ $ 6,038 ​ $ 11,424 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, ​ ​ 2024 ​ 2023 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total ​ ​ severance ​ ​ and other ​ ​ assets held-for-sale ​ ​ Total Protein Sciences ​ $ (19) ​ $ 50 ​ $ — ​ $ 31 ​ $ 2,950 ​ $ 472 ​ $ 6,038 ​ $ 9,460 Diagnostics and Spatial Biology ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 739 ​ ​ — ​ ​ — ​ ​ 739 Corporate ​ ​ (3) ​ ​ 1,048 ​ ​ — ​ ​ 1,045 ​ ​ 1,193 ​ ​ 32 ​ ​ — ​ ​ 1,225 Total ​ $ (22) ​ $ 1,098 ​ $ — ​ $ 1,076 ​ $ 4,882 ​ $ 504 ​ $ 6,038 ​ $ 11,424 ​ The following table summarizes the changes in the Company’s accrued restructuring balance, which is included within Other current liabilities in the accompanying balance sheet. Other amounts reported as restructuring and restructuring-related costs in the accompanying statements of income have been summarized in the notes to the table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ Asset-related ​ ​ Impairment of ​ ​ ​ ​ ​ ​ severance (1) ​ ​ and other (2) ​ ​ assets held-for-sale ​ ​ Total Expense incurred in the second quarter of 2024 ​ ​ 4,882 ​ ​ 504 ​ ​ 6,038 ​ ​ 11,424 Incremental expense incurred in the third quarter of 2024 ​ ​ 133 ​ ​ 1,140 ​ ​ — ​ ​ 1,273 Incremental expense incurred in the fourth quarter of 2024 ​ ​ 409 ​ ​ 4,737 ​ ​ 15,926 ​ ​ 21,072 Cash payments ​ ​ (4,882) ​ ​ (2,800) ​ ​ — ​ ​ (7,682) Non-cash adjustments ​ ​ — ​ ​ (3,391) ​ ​ (21,963) ​ ​ (25,354) Adjustments (3) ​ ​ 219 ​ ​ — ​ ​ — ​ ​ 219 Accrued restructuring actions balance as of June 30, 2024 ​ $ 761 ​ $ 190 ​ $ — ​ $ 952 Incremental expense incurred in the first quarter of 2025 ​ ​ — ​ ​ 753 ​ ​ — ​ ​ 753 Incremental expense incurred in the second quarter of 2025 ​ ​ (33) ​ ​ 356 ​ ​ — ​ ​ 323 Cash payments ​ ​ (551) ​ ​ (1,208) ​ ​ — ​ ​ (1,759) Accrued restructuring actions balance as of December 31, 2024 ​ $ 177 ​ $ 92 ​ $ — ​ $ 269 (1) (2) (3) Protein Sciences Realignment In December 2022, the Company informed employees it would undertake certain actions to strategically reallocate operations resources to high growth areas of the business. Additional actions were taken in June 2023 primarily related to the sales organization. The actions impacted a limited number of employees and were completed in the fourth quarter of fiscal 2024. As a result of the realignment, a pre-tax charge of $1.7 million related to employee severance was recorded in the Selling, general and administrative line of operating income within our Protein Sciences segment during the year ended June 30, 2023. Adjustments in fiscal year 2024 related to the refinement of employee severance payouts. Additional pre-tax charges for the year ended June 30, 2024 were $0.2 million. Restructuring actions, including cash and non-cash impacts, were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ severance Accrued restructuring actions balance as of June 30, 2023 ​ $ 897 Fiscal year 2024 cash payments ​ ​ (1,118) First quarter fiscal year 2024 adjustments (1) ​ ​ 89 Second quarter fiscal year 2024 adjustments (1) ​ ​ 132 Accrued restructuring actions balance as of June 30, 2024 ​ $ — (1)
Legal Matters	Legal Matters ​ The Company records a liability in the consolidated financial statements on an undiscounted basis for loss contingencies related to legal actions when a loss is known or considered probable and the amount may be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and may be reasonably estimated, the estimated loss or range of loss is disclosed. When determining the estimated loss or range of loss, significant judgment is required. Estimates of probable losses resulting from litigation and governmental proceedings involving the Company are inherently difficult to predict, particularly when the matters are in early procedural stages with incomplete scientific facts or legal discovery, involve unsubstantiated or indeterminate claims for damages, potentially involve penalties, fines or punitive damages, or could result in a change in business practice. The Company classifies certain specified litigation charges and gains related to significant legal matters as certain litigation charges in the consolidated statements of income. ​ In August 2024, 794,400 shares of outstanding vested stock options related to former employees expired which have now been excluded from the Company’s dilutive EPS calculation for the period ended December 31, 2024. The expiration date of these options is currently under dispute. The total net pre-tax value of these options on the expiration date was approximately $32 million. As of December 31, 2024, the matter is under review and the Company is unable to estimate any future exposure related to this matter at this time. ​ The Company recognized $1.4 million and $1.7 million of certain litigation charges during the quarter and six months ended December 31, 2024. There was no comparable activity during the quarter and six months ended December 31, 2023. As of each of the balance sheet dates presented, there was no accrued litigation. The ultimate cost to the Company with respect to accrued litigation could be materially different than the amount of the current estimates and accruals and could have a material adverse impact on the Company’s consolidated earnings, financial position, and/or cash flows. The Company includes accrued litigation in Other current liabilities and Other liabilities on the consolidated balance sheets. While it is not possible to predict the outcome for the legal matters included within our litigation charges line, the Company believes it is possible that the costs associated with these matters could have a material adverse impact on the Company’s consolidated earnings, financial position, and/or cash flows.
Recently Adopted Accounting Pronouncements and Relevant New Standards Issued Not Yet Adopted	Recently Adopted Accounting Pronouncements There were no accounting pronouncements adopted in the quarter ended December 31, 2024. Refer to the Form 10-K for accounting pronouncements adopted prior to June 30, 2024. ​ Relevant New Standards Issued Not Yet Adopted ​ In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280) ​ In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740) ​ In November 2024, the FASB issued ASU 2024-03, Income Statement –Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) ​ Other than the items noted above, there have been no new accounting pronouncements not yet effective or adopted in the current year that we believe have a significant impact, or potential significant impact, on our unaudited condensed consolidated financial statements.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of restructuring charges	The restructuring and restructuring-related charges for periods presented were recorded in the Consolidated Statements of Earnings as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ ​ 2024 ​ 2024 Cost of sales ​ $ 2,691 ​ $ 7,589 Selling, general and administrative (1) ​ ​ 273 ​ ​ 5,644 Total ​ $ 2,964 ​ $ 13,233 (1) Restructuring and restructuring-related costs by segment are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, 2024 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ Total Protein Sciences ​ $ 39 ​ $ 2,755 ​ $ 2,794 Diagnostics and Spatial Biology ​ ​ (19) ​ ​ — ​ ​ (19) Corporate ​ ​ 185 ​ ​ 4 ​ ​ 189 Total ​ $ 205 ​ $ 2,759 ​ $ 2,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, 2024 ​ ​ ​ Employee ​ ​ Asset-related ​ ​ ​ ​ ​ ​ severance ​ ​ and other ​ ​ Total Protein Sciences ​ $ 2,313 ​ $ 10,172 ​ $ 12,485 Diagnostics and Spatial Biology ​ ​ 425 ​ ​ — ​ ​ 425 Corporate ​ ​ 319 ​ ​ 4 ​ ​ 323 Total ​ $ 3,057 ​ $ 10,176 ​ $ 13,233 ​ ​ The following table summarizes the changes in the Company’s accrued restructuring balance, which is included within Other current liabilities in the accompanying balance sheet. Other amounts reported as restructuring and restructuring-related costs in the accompanying statements of income have been summarized in the notes to the table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ severance (1) impairment and other (2) Total Expense incurred in the first quarter of 2025 ​ $ 2,852 ​ $ 7,417 ​ $ 10,269 Cash payments ​ ​ (189) ​ ​ — ​ ​ (189) Non-cash adjustments ​ ​ — ​ ​ (7,417) ​ ​ (7,417) Accrued restructuring actions balance as of September 30, 2024 ​ $ 2,663 ​ $ — ​ $ 2,663 Expense incurred in the second quarter of 2025 ​ ​ 205 ​ ​ 2,759 ​ ​ 2,964 Cash payments ​ ​ (1,211) ​ ​ (335) ​ ​ (1,546) Non-cash adjustments ​ ​ — ​ ​ (2,424) ​ ​ (2,424) Accrued restructuring actions balance as of December 31, 2024 ​ $ 1,657 ​ $ — ​ $ 1,657 (1) (2)
Protein Sciences
Notes Tables
Schedule of restructuring charges	Restructuring actions, including cash and non-cash impacts, were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ severance Accrued restructuring actions balance as of June 30, 2023 ​ $ 897 Fiscal year 2024 cash payments ​ ​ (1,118) First quarter fiscal year 2024 adjustments (1) ​ ​ 89 Second quarter fiscal year 2024 adjustments (1) ​ ​ 132 Accrued restructuring actions balance as of June 30, 2024 ​ $ — (1)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Dec. 31, 2024
Notes Tables
Schedules of disaggregated revenue	Revenue by type is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ ​ December 31, ​ December 31, ​ ​ 2024 2023 ​ 2024 2023 ​ Consumables ​ $ 230,715 ​ $ 211,126 ​ $ 461,560 ​ $ 435,673 ​ Instruments ​ 30,868 ​ 29,825 ​ 57,074 ​ 54,685 ​ Services ​ 27,350 ​ 24,129 ​ 54,707 ​ 45,583 ​ Total product and services revenue, net ​ $ 288,933 ​ $ 265,080 ​ $ 573,341 ​ $ 535,941 ​ Royalty revenues ​ 8,098 ​ 7,518 ​ 13,148 ​ 13,592 ​ Total revenues, net ​ $ 297,031 ​ $ 272,598 ​ $ 586,489 ​ $ 549,533 ​ ​ ​ Revenue by geography is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ December 31, ​ December 31, ​ 2024 2023 ​ 2024 2023 ​ ​ ​ ​ ​ ​ United States ​ $ 159,906 ​ $ 147,793 ​ $ 324,921 ​ $ 306,898 EMEA, excluding United Kingdom ​ 70,392 ​ 62,538 ​ 129,455 ​ 117,334 United Kingdom ​ 13,243 ​ 10,675 ​ 27,187 ​ 23,126 APAC, excluding Greater China ​ 19,010 ​ 19,042 ​ 37,131 ​ 36,392 Greater China ​ 24,754 ​ 24,459 ​ 49,074 ​ 49,944 Rest of World ​ 9,726 ​ 8,091 ​ 18,721 ​ 15,839 Net sales ​ $ 297,031 ​ $ 272,598 ​ $ 586,489 ​ $ 549,533 ​

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	6 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of inventories	Inventories consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ ​ 2024 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ Raw materials ​ $ 83,960 ​ $ 79,377 ​ Finished goods (1) ​ 110,153 ​ 106,072 ​ Inventories, net ​ $ 194,113 ​ $ 185,449 ​ (1) Finished goods inventory of $5,740 and $5,718 included within Other long-term assets in the respective December 31, 2024 and June 30, 2024, 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, ​ ​ 2024 2024 ​ Land ​ $ 8,104 ​ $ 8,150 ​ Buildings and improvements ​ 249,193 ​ 243,863 ​ Machinery and equipment ​ ​ 235,984 ​ ​ 215,948 ​ Construction in progress ​ 26,785 ​ 39,749 ​ Property and equipment, cost ​ 520,066 ​ 507,710 ​ Accumulated depreciation and amortization ​ (270,313) ​ (256,556) ​ Property and equipment, net ​ $ 249,753 ​ $ 251,154 ​
Schedule of intangible assets	Intangible assets consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ ​ ​ 2024 ​ 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ Developed technology ​ $ 675,072 ​ $ 675,674 ​ Tradenames ​ 151,066 ​ 151,561 ​ Customer relationships ​ 210,881 ​ 211,276 ​ Patents ​ 4,736 ​ 4,343 ​ Other intangibles ​ 7,161 ​ 12,006 ​ Definite-lived intangible assets ​ 1,048,916 ​ 1,054,860 ​ Accumulated amortization ​ (587,865) ​ (547,779) ​ Total intangible assets, net ​ $ 461,051 ​ $ 507,081 ​
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, 2024 consist of (in thousands): ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ ​ ​ ​ Beginning balance ​ $ 507,081 Other additions ​ 249 Amortization expense ​ (38,911) Restructuring impairment ​ ​ (7,050) Currency translation ​ ​ (318) Ending balance ​ $ 461,051
Schedule of estimated future amortization expense for intangible assets	The estimated future amortization expense for intangible assets as of December 31, 2024 is as follows (in thousands): ​ ​ ​ ​ ​ Remainder 2025 $ 37,819 2026 ​ 72,318 2027 ​ 62,182 2028 ​ 58,478 2029 ​ 45,912 Thereafter ​ 184,342 Total ​ $ 461,051
Schedule of changes to the carrying amount of goodwill	Changes to the carrying amount of goodwill for the period ended December 31, 2024 consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics and ​ ​ ​ Protein Sciences ​ Spatial Biology ​ Total June 30, 2024 ​ $ 423,449 ​ $ 549,214 ​ $ 972,663 Currency translation ​ (3,642) ​ ​ (4,414) ​ ​ (8,056) December 31, 2024 ​ $ 419,807 ​ $ 544,800 ​ $ 964,607
Schedule of other assets	Other assets consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, ​ 2024 ​ 2024 ​ ​ ​ ​ ​ ​ ​ Equity method investment in Wilson Wolf ​ $ 241,354 ​ $ 242,337 Derivative instruments ​ ​ 3,227 ​ ​ 9,813 Long-term inventory ​ ​ 5,740 ​ ​ 5,718 Investment in Spear Bio ​ ​ 15,000 ​ ​ — Other ​ 9,669 ​ 6,397 Other assets ​ $ 274,990 ​ $ 264,265 ​

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2024
Lunaphore Technologies SA.
Notes Tables
Schedule of the aggregate purchase price of the acquisitions that was allocated to the assets acquired and liabilities assumed	​ ​ ​ ​ ​ ​ ​ Final allocation at June 30, 2024 Current assets $ 12,155 Equipment and other long-term assets 1,470 Goodwill 104,650 Intangible assets: ​ ​ Developed technologies 60,300 Tradenames 4,900 Customer relationships 1,200 Total assets acquired 184,675 ​ ​ ​ Liabilities 7,096 Deferred income taxes, net 7,872 Net assets acquired $ 169,707 ​ ​ ​ Cash paid 169,707

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2024
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 ​ Balance Sheet Location ​ December 31, ​ Inputs Considered as ​ ​ ​ 2024 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ Derivatives designated as hedging instruments - cash flow hedges Other current assets ​ $ 6,063 ​ $ — ​ $ 6,063 ​ $ — Derivatives designated as hedging instruments - cash flow hedges Other assets ​ ​ 528 ​ ​ — ​ ​ 528 ​ ​ — Derivatives designated as hedging instruments - net investment hedge Other assets ​ ​ 2,699 ​ ​ — ​ ​ 2,699 ​ ​ — Total assets ​ ​ $ 9,290 ​ $ — ​ $ 9,290 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ Fair Value Measurements Using ​ Balance Sheet Location ​ June 30, ​ Inputs Considered as ​ ​ 2024 Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ Certificates of deposit (1) Short-term available-for-sale investments ​ $ 1,072 ​ $ 1,072 ​ $ — ​ $ — Derivatives designated as hedging instruments - cash flow hedges Other current assets ​ ​ 805 ​ ​ — ​ ​ 805 ​ ​ — Derivatives designated as hedging instruments - cash flow hedges Other assets ​ 9,813 ​ — ​ 9,813 ​ — Total assets ​ ​ $ 11,690 ​ $ 1,072 ​ $ 10,618 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ Derivatives designated as hedging instruments - net investment hedge Other long-term liabilities ​ $ 2,051 ​ $ — ​ $ 2,051 ​ $ — Total liabilities ​ ​ $ 2,051 ​ $ — ​ $ 2,051 ​ $ — (1) The certificates of deposit have contractual maturity dates within one year.
Schedule of contractual amounts of the outstanding instruments	The following table presents the contractual amounts of the Company's outstanding instruments (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ June 30, Instruments ​ Designation 2024 ​ 2024 Forward starting swaps (1) ​ Cash flow hedge ​ $ 300 ​ $ 300 Cross-currency swap (2) ​ Net investment hedge ​ ​ 140 ​ ​ 150 ​ (1) (2)
Schedule of pretax amount of the gains and losses on our hedging instruments and the classification of those gains and losses	The pretax amount of the gains and losses on our hedging instruments and the classification of those gains and losses within our Consolidated Financial Statements for the three and six months ended December 31, 2024 and 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Gain) Loss Recognized in Accumulated Other Comprehensive Loss ​ ​ Quarter Ended ​ Six Months Ended ​ ​ ​ December 31, ​ December 31, ​ ​ 2024 2023 ​ 2024 ​ 2023 Cash flow hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward starting swaps ​ ​ $ 1,689 $ 5,669 ​ $ 6,699 ​ $ 7,956 Net investment hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cross-currency swap ​ ​ ​ (7,690) ​ 7,545 ​ ​ (2,525) ​ ​ 7,243 Total ​ ​ $ (6,001) ​ $ 13,214 ​ $ 4,174 ​ $ 15,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Gain) Loss Reclassified into Income ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ Location of (Gain) Loss ​ ​ 2024 2023 ​ 2024 ​ 2023 ​ in Income Statement Cash flow hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward starting swaps ​ ​ $ (2,155) $ (2,620) ​ $ (4,754) ​ $ (5,159) ​ Interest expense Net investment hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cross-currency swap ​ ​ ​ (660) ​ (837) ​ ​ (1,442) ​ ​ (1,535) ​ Interest expense Total ​ ​ $ (2,815) ​ $ (3,457) ​ $ (6,196) ​ $ (6,694) ​ ​ ​ ​ ​ ​

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2024
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 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ ​ ​ ​ December 31, ​ ​ Balance Sheet Classification ​ 2024 Operating leases: ​ ​ ​ Operating lease right-of-use assets ​ Right-of-use asset ​ $ 85,383 ​ ​ ​ ​ ​ ​ ​ ​ Current operating lease liabilities ​ Operating lease liabilities - current ​ $ 13,511 Noncurrent operating lease liabilities ​ Operating lease liabilities ​ 81,616 Total operating lease liabilities ​ ​ ​ ​ $ 95,127 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years): ​ ​ ​ 8.09 ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate (%): ​ ​ ​ 4.26
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, 2024 (in thousands): ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ December 31, ​ 2024 Cash amounts paid on operating lease liabilities ​ $ 8,068 ​ ​ ​ ​ Right-of-use assets obtained in exchange for lease liabilities ​ $ 1,321
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, ​ ​ 2024 Remainder 2025 ​ $ 8,399 2026 ​ 16,568 2027 ​ 13,732 2028 ​ 13,569 2029 ​ 13,115 Thereafter ​ 48,159 Total ​ $ 113,542 Less: Amounts representing interest ​ 18,415 Total lease obligations ​ $ 95,127

Supplemental Equity and Accum_2

Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information (Tables)	6 Months Ended
	Dec. 31, 2024
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 ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Total Balances at June 30, 2024 158,216 ​ $ 1,582 ​ $ 820,337 ​ $ 1,325,247 ​ $ (78,316) ​ $ 2,068,850 Net earnings ​ ​ ​ ​ ​ ​ ​ 33,600 ​ ​ ​ 33,600 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ 18,229 ​ 18,229 Common stock issued for exercise of options 577 ​ 6 ​ 23,224 ​ (2,338) ​ ​ ​ 20,892 Common stock issued for restricted stock awards 50 ​ ​ 1 ​ 1 ​ (2,646) ​ ​ ​ (2,644) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,688) ​ ​ ​ (12,688) Stock-based compensation expense ​ ​ ​ ​ 10,146 ​ ​ ​ ​ ​ 10,146 Common stock issued to employee stock purchase plan 35 ​ ​ 0 ​ 2,227 ​ ​ ​ ​ ​ 2,227 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 38 ​ ​ ​ ​ ​ ​ ​ ​ 38 Balances at September 30, 2024 158,878 ​ $ 1,589 ​ $ 855,973 ​ $ 1,341,175 ​ $ (60,087) ​ $ 2,138,650 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 34,890 ​ ​ ​ ​ 34,890 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (25,563) ​ ​ (25,563) Share repurchases (1,118) ​ ​ (11) ​ ​ ​ ​ ​ (75,617) ​ ​ ​ ​ (75,628) Common stock issued for exercise of options 132 ​ ​ 1 ​ ​ 5,183 ​ ​ (20) ​ ​ ​ ​ 5,164 Common stock issued for restricted stock awards 24 ​ ​ 0 ​ ​ 0 ​ ​ (993) ​ ​ ​ ​ (993) Cash dividends ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,736) ​ ​ ​ ​ (12,736) Stock-based compensation expense ​ ​ ​ ​ ​ ​ 14,335 ​ ​ ​ ​ ​ ​ ​ 14,335 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 373 ​ ​ ​ ​ ​ ​ ​ ​ 373 Balances at December 31, 2024 157,916 ​ $ 1,579 ​ $ 875,864 ​ $ 1,286,699 ​ $ (85,650) ​ $ 2,078,492 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bio-Techne Shareholders ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ ​ Common Stock ​ Paid-in ​ Retained ​ Comprehensive ​ ​ ​ ​ ​ Shares ​ Amount ​ Capital ​ Earnings ​ Income(Loss) ​ Total Balances at June 30, 2023 157,642 ​ $ 1,576 ​ $ 721,543 ​ $ 1,309,461 ​ $ (66,064) ​ $ 1,966,516 Net earnings ​ ​ ​ ​ ​ ​ ​ 50,993 ​ ​ ​ 50,993 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ (11,952) ​ (11,952) Common stock issued for exercise of options 633 ​ 6 ​ 12,877 ​ (15,460) ​ ​ ​ (2,577) Common stock issued for restricted stock awards 47 ​ ​ 1 ​ 0 ​ (4,768) ​ ​ ​ (4,767) Cash dividends ​ ​ ​ ​ ​ ​ ​ (12,654) ​ ​ ​ (12,654) Stock-based compensation expense ​ ​ ​ ​ 9,981 ​ ​ ​ ​ ​ 9,981 Common stock issued to employee stock purchase plan 33 ​ ​ 1 ​ 2,093 ​ ​ ​ ​ ​ 2,094 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 112 ​ ​ ​ ​ ​ ​ ​ ​ 112 Balances at September 30, 2023 158,355 ​ $ 1,584 ​ $ 746,606 ​ $ 1,327,572 ​ $ (78,016) ​ $ 1,997,746 Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ 27,465 ​ ​ ​ ​ 27,465 Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 14,355 ​ ​ 14,355 Share repurchases (1,397) ​ ​ (14) ​ ​ ​ ​ ​ (80,028) ​ ​ ​ ​ (80,042) Common stock issued for exercise of options 157 ​ ​ 1 ​ ​ 4,914 ​ ​ (1,074) ​ ​ ​ ​ 3,841 Common stock issued for restricted stock awards 27 ​ ​ 0 ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ 0 Cash dividends ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,559) ​ ​ ​ ​ (12,559) Stock-based compensation expense ​ ​ ​ ​ ​ ​ 12,413 ​ ​ ​ ​ ​ ​ ​ 12,413 Employee stock purchase plan expense ​ ​ ​ ​ ​ ​ ​ 340 ​ ​ ​ ​ ​ ​ ​ ​ 340 Balances at December 31, 2023 157,142 ​ $ 1,571 ​ $ 764,273 ​ $ 1,261,376 ​ $ (63,661) ​ $ 1,963,559
Schedule of changes in Accumulated Other Comprehensive Income (Loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, 2024 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of September 30, 2024, net of tax ​ $ 5,075 ​ $ (65,162) ​ $ (60,087) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (1,689) ​ ​ (26,021) ​ ​ (27,710) Amounts reclassified out ​ ​ 2,155 ​ ​ 660 ​ ​ 2,815 Total other comprehensive income (loss), before tax ​ ​ 466 ​ ​ (25,361) ​ ​ (24,895) Tax (expense)/benefit ​ ​ (511) ​ ​ (157) ​ ​ (668) Total other comprehensive income (loss), net of tax ​ (45) ​ ​ (25,518) ​ ​ (25,563) Balance as of December 31, 2024, net of tax ​ $ 5,030 ​ $ (90,680) ​ $ (85,650) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended December 31, 2023 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of September 30, 2023 net of tax: ​ $ 12,512 ​ $ (90,528) ​ $ (78,016) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (5,669) ​ ​ 17,387 ​ ​ 11,718 Amounts reclassified out ​ ​ 2,620 ​ ​ 837 ​ ​ 3,457 Total other comprehensive income (loss), before tax ​ ​ (3,049) ​ ​ 18,224 ​ ​ 15,175 Tax (expense)/benefit ​ ​ (621) ​ ​ (199) ​ ​ (820) Total other comprehensive income (loss), net of tax ​ (3,670) ​ ​ 18,025 ​ ​ 14,355 Balance as of December 31, 2023, net of tax ​ $ 8,842 ​ $ (72,503) ​ $ (63,661) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, 2024 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2024, net of tax: ​ $ 8,102 ​ $ (86,418) ​ $ (78,316) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (6,699) ​ ​ (5,362) ​ ​ (12,061) Amounts reclassified out ​ ​ 4,754 ​ ​ 1,442 ​ ​ 6,196 Total other comprehensive income (loss), before tax ​ ​ (1,945) ​ ​ (3,920) ​ ​ (5,865) Tax (expense)/benefit ​ ​ (1,127) ​ ​ (342) ​ ​ (1,469) Total other comprehensive income (loss), net of tax ​ (3,072) ​ ​ (4,262) ​ ​ (7,334) Balance as of December 31, 2024, net of tax (1) ​ $ 5,030 ​ $ (90,680) ​ $ (85,650) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended December 31, 2023 (in thousands): ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ Gains ​ Foreign ​ ​ ​ ​ ​ (Losses) on ​ Currency ​ ​ ​ ​ ​ Derivative ​ Translation ​ ​ ​ ​ Instruments Adjustments Total Balance as of June 30, 2023, net of tax: ​ $ 12,862 ​ $ (78,926) ​ $ (66,064) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ ​ (7,956) ​ ​ 5,252 ​ ​ (2,704) Amounts reclassified out ​ ​ 5,159 ​ ​ 1,535 ​ ​ 6,694 Total other comprehensive income (loss), before tax ​ ​ (2,797) ​ ​ 6,787 ​ ​ 3,990 Tax (expense)/benefit ​ ​ (1,223) ​ ​ (364) ​ ​ (1,587) Total other comprehensive income (loss), net of tax ​ (4,020) ​ ​ 6,423 ​ ​ 2,403 Balance as of December 31, 2023, net of tax (1) ​ $ 8,842 ​ $ (72,503) ​ $ (63,661) ​ (1)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2024
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, ​ ​ 2024 2023 ​ 2024 2023 ​ Earnings per share – basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ​ $ 34,890 $ 27,465 ​ $ 68,490 $ 78,459 ​ Income allocated to participating securities ​ (3) ​ (3) ​ (12) ​ (13) ​ Income available to common shareholders ​ $ 34,887 ​ $ 27,462 ​ $ 68,478 ​ $ 78,446 ​ Weighted-average shares outstanding – basic ​ 158,431 ​ 157,533 ​ 158,481 ​ 157,826 ​ Earnings per share – basic ​ $ 0.22 ​ $ 0.17 ​ $ 0.43 ​ $ 0.50 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share – diluted: ​ ​ ​ ​ ​ Net earnings ​ $ 34,890 ​ $ 27,465 ​ $ 68,490 ​ $ 78,459 ​ Income allocated to participating securities ​ (3) ​ (3) ​ (12) ​ (13) ​ Income available to common shareholders ​ $ 34,887 ​ $ 27,462 ​ $ 68,478 ​ $ 78,446 ​ Weighted-average shares outstanding – basic ​ 158,431 ​ 157,533 ​ 158,481 ​ 157,826 ​ Dilutive effect of stock options and restricted stock units ​ 2,195 ​ 2,527 ​ 2,872 ​ 3,175 ​ Weighted-average common shares outstanding – diluted ​ 160,626 ​ 160,060 ​ 161,353 ​ 161,001 ​ Earnings per share – diluted ​ $ 0.22 ​ $ 0.17 ​ $ 0.42 ​ $ 0.49 ​

Other Income _ (Expense) (Table

Other Income / (Expense) (Tables)	6 Months Ended
	Dec. 31, 2024
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, ​ ​ 2024 2023 ​ 2024 2023 Interest expense ​ $ (2,148) ​ $ (4,329) ​ $ (4,324) ​ $ (9,222) ​ Interest income ​ ​ 1,348 ​ ​ 816 ​ ​ 2,274 ​ ​ 1,706 ​ Gain (loss) on investment ​ ​ — ​ ​ — ​ ​ — ​ ​ 283 ​ Gain (loss) on equity method investment ​ ​ 46 ​ ​ (1,914) ​ ​ 420 ​ ​ (4,204) ​ Other non-operating income (expense), net ​ (3,789) ​ 810 ​ ​ (2,729) ​ 516 ​ Total other income (expense) ​ $ (4,543) ​ $ (4,617) ​ $ (4,359) ​ $ (10,921) ​ ​

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Dec. 31, 2024
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, ​ 2024 2023 ​ 2024 2023 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ Protein Sciences ​ $ 211,551 $ 197,670 ​ $ 416,086 $ 402,325 Diagnostics and Spatial Biology ​ 84,135 ​ 75,408 ​ 167,327 ​ 148,204 Other revenue (1) ​ ​ 1,849 ​ ​ — ​ ​ 4,152 ​ ​ — Intersegment ​ (504) ​ (480) ​ (1,076) ​ (996) Consolidated net sales ​ $ 297,031 $ 272,598 ​ $ 586,489 $ 549,533 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Protein Sciences ​ $ 87,112 $ 79,586 ​ $ 167,653 $ 167,947 Diagnostics and Spatial Biology ​ 3,240 ​ 4,556 ​ 7,517 ​ 5,082 Segment operating income ​ $ 90,352 ​ $ 84,142 ​ $ 175,170 ​ $ 173,029 Costs recognized on sale of acquired inventory ​ (185) ​ (183) ​ (373) ​ (364) Amortization of intangibles ​ (18,559) ​ (19,769) ​ (38,300) ​ (39,620) Acquisition related expenses and other ​ (2,010) ​ 525 ​ (3,523) ​ 1,114 Certain litigation charges ​ ​ (1,386) ​ ​ — ​ ​ (1,678) ​ ​ — Impairment of assets held-for-sale ​ ​ — ​ ​ (6,038) ​ ​ — ​ ​ (6,038) Stock based compensation, inclusive of employer taxes ​ (15,238) ​ (12,958) ​ (25,875) ​ (24,453) Restructuring and restructuring-related costs ​ (3,287) ​ (5,518) ​ (14,309) ​ (5,607) Corporate general, selling, and administrative expenses ​ (1,641) ​ (2,197) ​ (3,227) ​ (4,195) Impact of business held-for-sale (1) ​ ​ (627) ​ ​ — ​ ​ (479) ​ ​ — Consolidated operating income ​ $ 47,419 $ 38,004 ​ $ 87,406 $ 93,866 (1)

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Investments (Details) $ in Thousands		1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($)	Aug. 31, 2024 USD ($) shares	Jul. 31, 2024 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Number of Operating Segments | segment							2
Payments in Investment							$ 15,000	$ 0
Gain (loss) on equity method investment					$ 46	$ (1,914)	420	(4,204)
Positions eliminated during the period as a percentage						4%
Impairment charges related to the disposal group							0	6,038
Number of expired vested stock options (in shares) | shares		794,400
Total net pre-tax value of options that expired		$ 32,000
Litigation charges					1,400	$ 0	1,700	0
Accrued litigation					0		0		$ 0
Protein Sciences
Goodwill attributable to disposal group held for sale						$ 1,400		$ 1,400
Inventory, sold as part of disposal group					8,000		8,000
Promissory note related to sale of inventory of disposal group					6,000		6,000
Pre-tax restructuring charges									200	$ 1,700
Protein Sciences | Fiscal Year 2024 Restructuring Actions
Impairment charges related to the disposal group							0
Protein Sciences | Current Assets, Held For Sale | Fiscal Year 2024 Restructuring Actions
Property, plant and equipment attributable to disposal group held for sale					$ 1,000		$ 1,000
Wilson Wolf Corporation
Payments in Investment	$ 232,000			$ 25,000
Investment percentage	19.90%
Forward Contract, Milestone, Multiple for Total Expected Payments					4.4		4.4
Gain (loss) on equity method investment							$ 400
Investment amount					$ 241,000		241,000
Wilson Wolf Corporation | First Part of Forward Contract
Forward Contract, Milestone, Annual Revenue Required					92,000		92,000
Forward Contract, Milestone, Annual EBITDA					55,000		55,000
Wilson Wolf Corporation | Second Part of Forward Contract
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
Spear Bio
Payments in Investment			$ 15,000
Spear Bio | Other assets
Long-term investments					$ 15,000		$ 15,000
Selling, General and Administrative Expenses | Protein Sciences | Fiscal Year 2024 Restructuring Actions
Asset Impairment Charges									$ 22,000

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	$ 323				$ 11,424		$ 1,076	$ 11,424
Accrued restructuring actions balances		$ 952					952
Restructuring costs	323	753	$ 21,072	$ 1,273	11,424
Cash payments							(1,759)		$ (7,682)
Non-cash adjustments									(25,354)
Adjustments									219
Accrued restructuring actions balances	269		952				269		952
Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	2,964						13,233
Accrued restructuring actions balances	2,663
Restructuring costs	2,964	10,269
Cash payments	(1,546)	(189)
Non-cash adjustments	(2,424)	(7,417)
Accrued restructuring actions balances	1,657	2,663					1,657
Corporate | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	346				1,225		1,045	1,225
Corporate | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	189						323
Diagnostics and Spatial Biology | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments					739			739
Diagnostics and Spatial Biology | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	(19)						425
Protein Sciences | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	(23)				9,460		31	9,460
Protein Sciences | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	2,794						12,485
Cost of Sales | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments					1,174			1,174
Cost of Sales | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	2,691						7,589
Selling, General and Administrative Expenses | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	323				10,250		1,076	10,250
Selling, General and Administrative Expenses | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	273						5,644
Employee severance | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	(33)				4,882		(22)	4,882
Accrued restructuring actions balances		761					761
Restructuring costs	$ (33)		$ 409	$ 133	$ 4,882
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold, Selling, General and Administrative Expense		Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense
Cash payments							(551)		(4,882)
Adjustments									219
Accrued restructuring actions balances	$ 177		$ 761				177		761
Employee severance | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	205						3,057
Accrued restructuring actions balances	2,663
Restructuring costs	$ 205	$ 2,852
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense
Cash payments	$ (1,211)	$ (189)
Accrued restructuring actions balances	1,657	2,663					1,657
Employee severance | Corporate | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments					$ 1,193		(3)	1,193
Employee severance | Corporate | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	185						319
Employee severance | Diagnostics and Spatial Biology | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments					739			739
Employee severance | Diagnostics and Spatial Biology | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	(19)						425
Employee severance | Protein Sciences
Accrued restructuring actions balances		0				$ 897	0	897	897
Cash payments									(1,118)
Adjustments					132	$ 89
Accrued restructuring actions balances			0						0
Employee severance | Protein Sciences | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	(33)				2,950		(19)	2,950
Employee severance | Protein Sciences | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	39						2,313
Asset-related and other | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	356				504		1,098	504
Accrued restructuring actions balances		190					190
Restructuring costs	$ 356	$ 753	$ 4,737	$ 1,140	$ 504
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense
Cash payments							(1,208)		(2,800)
Non-cash adjustments									(3,391)
Accrued restructuring actions balances	$ 92		$ 190				92		190
Asset-related and other | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	2,759						10,176
Restructuring costs	$ 2,759	$ 7,417
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense
Cash payments	$ (335)
Non-cash adjustments	(2,424)	$ (7,417)
Asset-related and other | Corporate | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	346				$ 32		1,048	32
Asset-related and other | Corporate | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	4						4
Asset-related and other | Protein Sciences | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments	10				472		50	472
Asset-related and other | Protein Sciences | Fiscal Year 2025 Restructuring Actions
Restructuring costs, net of adjustments	$ 2,755						$ 10,172
Impairment of assets held-for-sale | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments					6,038			6,038
Restructuring costs			$ 15,926		$ 6,038
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]			Cost of Goods and Services Sold, Selling, General and Administrative Expense		Cost of Goods and Services Sold, Selling, General and Administrative Expense
Non-cash adjustments									$ (21,963)
Impairment of assets held-for-sale | Protein Sciences | Fiscal Year 2024 Restructuring Actions
Restructuring costs, net of adjustments					$ 6,038			$ 6,038

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Revenue Recognition
Contract with Customer, Liability, Total	$ 30.4		$ 30.4		$ 30.2
Contract with Customer, Liability, Revenue Recognized	$ 8	$ 7.1	$ 19.9	$ 18.8

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenues, net	$ 297,031	$ 272,598	$ 586,489	$ 549,533
United States
Revenues, net	159,906	147,793	324,921	306,898
EMEA, excluding United Kingdom
Revenues, net	70,392	62,538	129,455	117,334
United Kingdom
Revenues, net	13,243	10,675	27,187	23,126
APAC, excluding Greater China
Revenues, net	19,010	19,042	37,131	36,392
Greater China
Revenues, net	24,754	24,459	49,074	49,944
Rest of World
Revenues, net	9,726	8,091	18,721	15,839
Consumables
Revenues, net	230,715	211,126	461,560	435,673
Instruments
Revenues, net	30,868	29,825	57,074	54,685
Services
Revenues, net	27,350	24,129	54,707	45,583
Product and Services
Revenues, net	288,933	265,080	573,341	535,941
Royalty revenues
Revenues, net	$ 8,098	$ 7,518	$ 13,148	$ 13,592

Selected Balance Sheet Data - N

Selected Balance Sheet Data - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Other Noncurrent Assets
Inventory, Finished Goods, Net of Reserves, Non-current	$ 5,740	$ 5,718

Selected Balance Sheet Data - I

Selected Balance Sheet Data - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Selected Balance Sheet Data
Raw materials	$ 83,960	$ 79,377
Finished goods	110,153	106,072
Inventories, net	$ 194,113	$ 185,449

Selected Balance Sheet Data - P

Selected Balance Sheet Data - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Property and equipment, cost	$ 520,066	$ 507,710
Accumulated depreciation and amortization	(270,313)	(256,556)
Property and equipment, net	249,753	251,154
Land
Property and equipment, cost	8,104	8,150
Building and improvements
Property and equipment, cost	249,193	243,863
Machinery and equipment
Property and equipment, cost	235,984	215,948
Construction in progress
Property and equipment, cost	$ 26,785	$ 39,749

Selected Balance Sheet Data -_2

Selected Balance Sheet Data - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Definite-lived intangibles assets	$ 1,048,916	$ 1,054,860
Accumulated amortization	(587,865)	(547,779)
Definite-lived intangibles assets, net	461,051
Total intangible assets, net	461,051	507,081
Developed technology
Definite-lived intangibles assets	675,072	675,674
Tradenames
Definite-lived intangibles assets	151,066	151,561
Customer relationships
Definite-lived intangibles assets	210,881	211,276
Patents
Definite-lived intangibles assets	4,736	4,343
Other intangibles
Definite-lived intangibles assets	$ 7,161	$ 12,006

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, 2024 USD ($)
Selected Balance Sheet Data
Beginning balance	$ 507,081
Other additions	249
Amortization expense	(38,911)
Currency translation	(318)
Restructuring Impairment	(7,050)
Ending balance	$ 461,051

Selected Balance Sheet Data - E

Selected Balance Sheet Data - Estimated Future Amortization Expense for Intangible Assets (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Selected Balance Sheet Data
Remainder 2025	$ 37,819
2026	72,318
2027	62,182
2028	58,478
2029	45,912
Thereafter	184,342
Definite-lived intangibles assets, net	$ 461,051

Selected Balance Sheet Data -_3

Selected Balance Sheet Data - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Beginning balance	$ 972,663
Currency translation	(8,056)
Ending balance	964,607
Protein Sciences
Beginning balance	423,449
Currency translation	(3,642)
Ending balance	419,807
Diagnostics and Spatial Biology
Beginning balance	549,214
Currency translation	(4,414)
Ending balance	$ 544,800

Selected Balance Sheet Data - O

Selected Balance Sheet Data - Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Selected Balance Sheet Data
Equity method investment in Wilson Wolf	$ 241,354	$ 242,337
Derivative Instruments	$ 3,227	$ 9,813
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Long-term inventory	$ 5,740	$ 5,718
Investment in Spear Bio	15,000
Other	9,669	6,397
Other assets	$ 274,990	$ 264,265

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 07, 2023	Dec. 31, 2024	Dec. 31, 2023
Cash paid, net of cash acquired		$ 0	$ 169,707
Lunaphore Technologies SA.
Acquisition amount	$ 169,700
Lunaphore Technologies SA. | Developed technology
Finite-Lived Intangible Asset, Useful Life (Year)		14 years
Lunaphore Technologies SA. | Customer relationships
Finite-Lived Intangible Asset, Useful Life (Year)		8 years
Lunaphore Technologies SA. | Minimum | Tradenames
Finite-Lived Intangible Asset, Useful Life (Year)		4 years
Lunaphore Technologies SA. | Maximum | Tradenames
Finite-Lived Intangible Asset, Useful Life (Year)		8 years

Acquisitions - Preliminary and

Acquisitions - Preliminary and Final Fair Value of Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 07, 2023	Jun. 30, 2024	Dec. 31, 2024
Goodwill		$ 972,663	$ 964,607
Lunaphore Technologies SA.
Current assets		12,155
Equipment and other long-term assets		1,470
Goodwill		104,650
Total assets acquired		184,675
Liabilities		7,096
Deferred income taxes, net		7,872
Net assets acquired		169,707
Cash paid		169,707
Net assets acquired	$ 169,700
Lunaphore Technologies SA. | Developed technology
Intangible assets		60,300
Lunaphore Technologies SA. | Tradenames
Intangible assets		4,900
Lunaphore Technologies SA. | Customer relationships
Intangible assets		$ 1,200

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2023 USD ($) item	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Aug. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	May 31, 2021 USD ($)
Income Tax Expense (Benefit), Total		$ 7,986	$ 5,922	$ 14,557	$ 4,486
Forward starting swaps | Cash flow hedges | Designated as hedging instruments
Derivative, Notional Amount						$ 100,000	$ 100,000	$ 200,000
Cross-currency swap | Net investment hedge | Designated as hedging instruments
Derivative, Notional Amount	$ 150,000
Number of interim settlement dates | item	3
Notional amount at maturity	$ 110,000
Decrease in notional amount at each interim date	$ 10,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Assets, Fair Value Disclosure	$ 9,290	$ 11,690
Total liabilities		2,051
Other current assets | Cash flow hedges
Derivative instruments - assets	6,063	805
Other assets | Cash flow hedges
Derivative instruments - assets	528
Other assets | Net investment hedge
Derivative instruments - assets	2,699
Assets, Fair Value Disclosure		9,813
Other long-term liabilities
Contingent consideration		2,051
Level 1
Assets, Fair Value Disclosure		1,072
Level 2
Assets, Fair Value Disclosure	9,290	10,618
Total liabilities		2,051
Level 2 | Other current assets | Cash flow hedges
Derivative instruments - assets	6,063	805
Level 2 | Other assets | Cash flow hedges
Derivative instruments - assets	528
Level 2 | Other assets | Net investment hedge
Derivative instruments - assets	$ 2,699
Assets, Fair Value Disclosure		9,813
Level 2 | Other long-term liabilities
Contingent consideration		2,051
Exchanged traded investment grade bond funds
Investments, Fair Value Disclosure		1,072
Exchanged traded investment grade bond funds | Level 1
Investments, Fair Value Disclosure		$ 1,072

Fair Value Measurements - Contr

Fair Value Measurements - Contractual Amounts of the Outstanding Instruments (Details) - Designated as hedging instruments - USD ($) $ in Millions	Dec. 31, 2024	Jun. 30, 2024
Cash flow hedges | Forward starting swaps
Derivative [Line Items]
Fair value of derivative instruments	$ 300	$ 300
Net investment hedge | Cross-currency swap
Derivative [Line Items]
Fair value of derivative instruments	$ 140	$ 150

Fair Value Measurements - Preta

Fair Value Measurements - Pretax Amount Of The Gains And Losses On Our Hedging Instruments And The Classification Of Those Gains And Losses (Details) - Designated as hedging instruments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
(Gain) Loss Recognized in AOCI
(Gain) Loss Recognized in Accumulated Other Comprehensive Loss	$ (6,001)	$ 13,214	$ 4,174	$ 15,199
(Gain) Loss Reclassified into Income	(2,815)	(3,457)	(6,196)	(6,694)
Cash flow hedges | Forward starting swaps
(Gain) Loss Recognized in AOCI
(Gain) Loss Recognized in Accumulated Other Comprehensive Loss	1,689	5,669	6,699	7,956
(Gain) Loss Reclassified into Income	(2,155)	(2,620)	(4,754)	(5,159)
Net investment hedge | Cross-currency swap
(Gain) Loss Recognized in AOCI
(Gain) Loss Recognized in Accumulated Other Comprehensive Loss	(7,690)	7,545	(2,525)	7,243
(Gain) Loss Reclassified into Income	$ (660)	$ (837)	$ (1,442)	$ (1,535)

Debt and Other Financing Arra_2

Debt and Other Financing Arrangements - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Aug. 31, 2022	Dec. 31, 2024	Dec. 31, 2023
Borrowings under line-of-credit agreement		$ 0	$ 225,000
Amended Credit Agreement
Line of Credit, Current		$ 300,000
Revolving Credit Facility | Amended Credit Agreement
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%

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
	Dec. 31, 2024 USD ($)
Variable Lease, Cost	$ 2.6
Fixed Lease, Cost	$ 8.7
Maximum
Lessee, Operating Lease, Renewal Term (Year)	5 years

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Leases
Operating lease right of use assets	$ 85,383	$ 91,285
Current operating lease liabilities	13,511	12,920
Noncurrent operating lease liabilities	81,616	$ 87,618
Total operating lease liabilities	$ 95,127
Operating Lease, Weighted Average Remaining Lease Term	8 years 1 month 2 days
Operating Lease, Weighted Average Discount Rate, Percent	4.26%

Leases - Cash Paid (Details)

Leases - Cash Paid (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Leases
Operating Lease, Payments	$ 8,068
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 1,321

Leases - Fair Value of the Leas

Leases - Fair Value of the Lease Liability by Payment Date (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases
Remainder 2025	$ 8,399
2026	16,568
2027	13,732
2028	13,569
2029	13,115
Thereafter	48,159
Total	113,542
Less: Amounts representing interest	18,415
Total lease obligations	$ 95,127

Supplemental Equity and Accum_3

Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Common Stock, dividends, per share, declared (in dollars per share)	$ 0.08	$ 0.08	$ 0.16	$ 0.16
Deferred tax liabilities	$ 37,723		$ 37,723		$ 55,863
Interest expense	$ 2,148	$ 4,329	4,324	$ 9,222
Accumulated Other Comprehensive Income (Loss)
Deferred Income Tax Expense (Benefit), Total			$ 1,600	$ 2,700

Supplemental Equity and Accum_4

Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information - Consolidated Changes in Equity (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Balance	$ 2,138,650	$ 2,068,850	$ 1,997,746	$ 1,966,516	$ 2,068,850	$ 1,966,516
Balances (in shares)		158,216,258			158,216,258
Net earnings	34,890	$ 33,600	27,465	50,993	$ 68,490	$ 78,459
Other comprehensive income (loss) before reclassification	(25,563)	18,229	14,355	(11,952)
Share repurchases	(75,628)		(80,042)
Common stock issued for exercise of options	5,164	20,892	3,841	(2,577)
Common stock issued for exercise of options (in shares)					800,000	1,200,000
Common stock issued for restricted stock awards	(993)	(2,644)	0	(4,767)
Cash dividends	(12,736)	(12,688)	(12,559)	(12,654)
Stock-based compensation expense	14,335	10,146	12,413	9,981
Common stock issued to employee stock purchase plan		2,227		2,094
Employee stock purchase plan expense	373	38	340	112
Balance	$ 2,078,492	2,138,650	1,963,559	1,997,746	$ 2,078,492	$ 1,963,559
Balances (in shares)	157,915,999				157,915,999
Common Stock
Balance	$ 1,589	$ 1,582	$ 1,584	$ 1,576	$ 1,582	$ 1,576
Balances (in shares)	158,878,000	158,216,000	158,355,000	157,642,000	158,216,000	157,642,000
Share repurchases	$ (11)		$ (14)
Share repurchases (in shares)	(1,118,000)		(1,397,000)
Common stock issued for exercise of options	$ 1	$ 6	$ 1	$ 6
Common stock issued for exercise of options (in shares)	132,000	577,000	157,000	633,000
Common stock issued for restricted stock awards	$ 0	$ 1	$ 0	$ 1
Common stock issued for restricted stock awards (in shares)	24,000	50,000	27,000	47,000
Common stock issued to employee stock purchase plan		$ 0		$ 1
Common stock issued to employee stock purchase plan (in shares)		35,000		33,000
Balance	$ 1,579	$ 1,589	$ 1,571	$ 1,584	$ 1,579	$ 1,571
Balances (in shares)	157,916,000	158,878,000	157,142,000	158,355,000	157,916,000	157,142,000
Additional Paid-in Capital
Balance	$ 855,973	$ 820,337	$ 746,606	$ 721,543	$ 820,337	$ 721,543
Common stock issued for exercise of options	5,183	23,224	4,914	12,877
Common stock issued for restricted stock awards	0	1	0	0
Stock-based compensation expense	14,335	10,146	12,413	9,981
Common stock issued to employee stock purchase plan		2,227		2,093
Employee stock purchase plan expense	373	38	340	112
Balance	875,864	855,973	764,273	746,606	875,864	764,273
Retained Earnings
Balance	1,341,175	1,325,247	1,327,572	1,309,461	1,325,247	1,309,461
Net earnings	34,890	33,600	27,465	50,993
Share repurchases	(75,617)		(80,028)
Common stock issued for exercise of options	(20)	(2,338)	(1,074)	(15,460)
Common stock issued for restricted stock awards	(993)	(2,646)		(4,768)
Cash dividends	(12,736)	(12,688)	(12,559)	(12,654)
Balance	1,286,699	1,341,175	1,261,376	1,327,572	1,286,699	1,261,376
Accumulated Other Comprehensive Income (Loss)
Balance	(60,087)	(78,316)	(78,016)	(66,064)	(78,316)	(66,064)
Other comprehensive income (loss) before reclassification	(25,563)	18,229	14,355	(11,952)
Balance	$ (85,650)	$ (60,087)	$ (63,661)	$ (78,016)	$ (85,650)	$ (63,661)

Supplemental Equity and Accum_5

Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information - Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Balance	$ 2,138,650	$ 1,997,746	$ 2,068,850	$ 1,966,516
Other comprehensive income (loss), before tax:
Balance	2,078,492	1,963,559	2,078,492	1,963,559
Unrealized Gains (Losses) on Debt Securities
Balance	5,075	12,512	8,102	12,862
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(1,689)	(5,669)	(6,699)	(7,956)
Amounts reclassified out	2,155	2,620	4,754	5,159
Total other comprehensive income (loss), before tax	466	(3,049)	(1,945)	(2,797)
Tax (expense) benefit	(511)	(621)	(1,127)	(1,223)
Total other comprehensive income (loss), net of tax	(45)	(3,670)	(3,072)	(4,020)
Balance	5,030	8,842	5,030	8,842
Foreign Currency Translation Adjustments
Balance	(65,162)	(90,528)	(86,418)	(78,926)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(26,021)	17,387	(5,362)	5,252
Amounts reclassified out	660	837	1,442	1,535
Total other comprehensive income (loss), before tax	(25,361)	18,224	(3,920)	6,787
Tax (expense) benefit	(157)	(199)	(342)	(364)
Total other comprehensive income (loss), net of tax	(25,518)	18,025	(4,262)	6,423
Balance	(90,680)	(72,503)	(90,680)	(72,503)
Accumulated Other Comprehensive Income (Loss)
Balance	(60,087)	(78,016)	(78,316)	(66,064)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(27,710)	11,718	(12,061)	(2,704)
Amounts reclassified out	2,815	3,457	6,196	6,694
Total other comprehensive income (loss), before tax	(24,895)	15,175	(5,865)	3,990
Tax (expense) benefit	(668)	(820)	(1,469)	(1,587)
Total other comprehensive income (loss), net of tax	(25,563)	14,355	(7,334)	2,403
Balance	$ (85,650)	$ (63,661)	$ (85,650)	$ (63,661)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	4.1	6.2	3.6	4.1

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, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Net earnings	$ 34,890	$ 33,600	$ 27,465	$ 50,993	$ 68,490	$ 78,459
Net earnings	34,890		27,465		68,490	78,459
Income allocated to participating securities	(3)		(3)		(12)	(13)
Income available to common shareholders	$ 34,887		$ 27,462		$ 68,478	$ 78,446
Weighted-average shares outstanding - basic (in shares)	158,431		157,533		158,481	157,826
Earnings per share - basic	$ 0.22		$ 0.17		$ 0.43	$ 0.5
Income available to common shareholders	$ 34,887		$ 27,462		$ 68,478	$ 78,446
Dilutive effect of stock options and restricted stock units (in shares)	2,195		2,527		2,872	3,175
Weighted-average common shares outstanding - diluted (in shares)	160,626		160,060		161,353	161,001
Earnings per share - diluted	$ 0.22		$ 0.17		$ 0.42	$ 0.49

Share-based Compensation (Detai

Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Oct. 30, 2014
Granted, shares (in shares)			800,000	900,000
Granted, weighted average exercise price (in dollars per share)			$ 74.65	$ 81.49
Weighted average fair values (in dollars per share)			$ 25.43	$ 27.83
Common stock issued for exercise of options (in shares)			800,000	1,200,000
Common stock issued for exercise of options intrinsic values			$ 28,300	$ 61,600
Unrecognized compensation cost	$ 62,600		$ 62,600
Unrecognized compensation cost, period for recognition (Year)			2 years 1 month 6 days
Employee Stock Purchase Plan 2014
Stock-based compensation expense	400	$ 300	$ 400	500
Number of shares authorized (in shares)					800,000
Selling, General and Administrative Expenses
Stock-based compensation expense	14,500	12,400	24,800	23,500
Cost of Sales
Stock-based compensation expense	$ 400	$ 300	$ 700	$ 500
Restricted Stock Units (RSUs)
Granted, shares (in shares)			500,000	300,000
Granted, weighted average exercise price (in dollars per share)			$ 74.96	$ 79.26
Restricted Stock
Granted, shares (in shares)			11,696	27,196
Granted, weighted average exercise price (in dollars per share)			$ 68.37	$ 56.98

Other Income _ (Expense) - Sche

Other Income / (Expense) - Schedule of Components of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Other income (expense).
Interest expense	$ (2,148)	$ (4,329)	$ (4,324)	$ (9,222)
Interest income	1,348	816	2,274	1,706
Gain (loss) on investment(1)				283
Gain (loss) on equity method investment	46	(1,914)	420	(4,204)
Other non-operating income (expense), net	(3,789)	810	(2,729)	516
Total other income (expense), net	$ (4,543)	$ (4,617)	$ (4,359)	$ (10,921)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Taxes
Effective income tax rate reconciliation, percent, total	18.60%	17.70%	17.50%	5.40%
Income tax expense (benefit), discrete tax items	$ (2.2)	$ (2.8)	$ (5.2)	$ (16.3)
Share-based compensation excess tax benefit	1	1.3	4.3	11.7
Income tax expense (benefit), other immaterial discrete tax items, net	$ (1.2)	$ (1.5)	$ (0.9)	$ (4.6)

Segment Information - Financial

Segment Information - Financial Information Relating to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	$ 297,031	$ 272,598	$ 586,489	$ 549,533
Operating income	47,419	38,004	87,406	93,866
Costs recognized on sale of acquired inventory			(373)	(364)
Certain litigation charges	(1,386)		(1,678)
Intangible assets, net	461,051		461,051		$ 507,081
Corporate general, selling, and administrative expenses	(121,451)	(115,667)	(240,612)	(220,998)
Consumables
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	230,715	211,126	461,560	435,673
Instruments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	30,868	29,825	57,074	54,685
Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	27,350	24,129	54,707	45,583
Product and Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	288,933	265,080	573,341	535,941
Royalty revenues
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	8,098	7,518	13,148	13,592
Other Revenues from Business Held for Sale
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	1,849		4,152
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating income	90,352	84,142	175,170	173,029
Costs recognized on sale of acquired inventory	(185)	(183)	(373)	(364)
Amortization of intangibles	(18,559)	(19,769)	(38,300)	(39,620)
Acquisition related expenses and other	(2,010)	525	(3,523)	1,114
Impairment of assets held-for-sale		(6,038)		(6,038)
Stock based compensation, inclusive of employer taxes	(15,238)	(12,958)	(25,875)	(24,453)
Restructuring and restructuring-related costs	(3,287)	(5,518)	(14,309)	(5,607)
Corporate general, selling, and administrative expenses	(1,641)	(2,197)	(3,227)	(4,195)
Impact of business held-for-sale(1)	(627)		(479)
Operating Segments | Protein Sciences
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	211,551	197,670	416,086	402,325
Operating income	87,112	79,586	167,653	167,947
Operating Segments | Diagnostics and Spatial Biology
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	84,135	75,408	167,327	148,204
Operating income	3,240	4,556	7,517	5,082
Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	$ (504)	$ (480)	$ (1,076)	$ (996)