BIO-RAD LABORATORIES, INC. (BIO) SEC Filings, Oct 2025-Feb 2026

Bio-Rad Laboratories, Inc. files its annual report describing a diversified life science and clinical diagnostics business with global reach. For the year ended December 31, 2025, the Life Science segment and Clinical Diagnostics segment generated approximately 40% and 60% of consolidated net sales, and about 40% of sales came from the U.S., with 60% from international markets.

The company highlights extensive regulatory, reimbursement, and cybersecurity exposure, along with supply chain and macroeconomic risks. Bio-Rad reports approximately 7,450 employees worldwide and continues to invest heavily in research and development. The report also details a significant strategic stake in Sartorius AG, with a fair value of $5,669.2 million as of December 31, 2025, and notes outstanding long-term debt of approximately $1.2 billion in senior notes and remaining authorization of $284.6 million under a share repurchase program.

Bio-Rad Laboratories reported fourth-quarter and full-year 2025 results showing modest revenue growth but pressured margins. Q4 2025 revenue was $693.2 million, up 3.9% year over year, while full-year revenue reached $2,583.2 million, up 0.7% and essentially flat on a currency-neutral basis.

GAAP gross margin declined to 49.8% in Q4 and 51.9% for 2025, reflecting about $13 million of product rationalization write-offs and a $172.8 million impairment tied to discontinuation and reprioritization of R&D programs, which drove a Q4 GAAP operating loss of $118.9 million.

Despite weaker operating margins, GAAP net income swung sharply positive to $720.0 million in Q4 and $759.9 million for 2025, largely from gains on the Sartorius AG investment. On a non-GAAP basis, Q4 net income was $67.7 million, or $2.51 per diluted share, and full-year non-GAAP net income was $270.5 million, or $9.92 per diluted share, both slightly below 2024 levels.

Free cash flow was strong at $374.6 million for 2025, supported by $532.2 million in operating cash flow. Management highlighted solid Clinical Diagnostics growth, continued headwinds in Life Science from constrained academic and biotech funding, successful integration of the Stilla Technologies acquisition, and share repurchases of $296 million.

For full-year 2026, Bio-Rad targets non-GAAP, currency-neutral revenue growth of approximately 0.5% to 1.5%, non-GAAP operating margin of about 12.0% to 12.5%, non-GAAP gross margin of 54.0% to 54.5%, and free cash flow between $375 million and $395 million.

Bio-Rad Laboratories insider plans modest stock sale under Rule 144. A holder of Bio-Rad Laboratories, Inc. common stock has filed a notice of intent to sell 776 shares through Morgan Stanley Smith Barney LLC on the NYSE. The aggregate market value of the planned sale is listed as $247,978.56. The filing notes that 21,906,399 common shares were outstanding for the issuer at the time referenced in the form, providing context for the relatively small size of this transaction.

The shares to be sold come from restricted stock awards acquired from the issuer on three dates in early September 2022, in amounts of 264, 196, and 316 shares. The seller represents that they are not aware of any material nonpublic adverse information about the company’s current or prospective operations and acknowledges the criminal penalties that can apply to intentional misstatements.

A shareholder in company symbol BIO filed a Form 144 notice to sell 760 Common Class A shares through Wells Fargo Clearing Services on the NYSE, with an aggregate market value of 228793.04. The issuer reports 21906399 Common Class A shares outstanding, providing context for the relatively small size of this planned sale. The shares to be sold were acquired by donation on 09/12/2016 from Alice Schwartz as stock in kind. By signing the notice, the seller represents they are not aware of any undisclosed material adverse information about the issuer and acknowledges the requirements related to any Rule 10b5-1 trading plan.

Bio‑Rad Laboratories (BIO) reported an insider transaction by its EVP, President, LSG. On 11/06/2025, the officer sold 699.873 shares of Bio‑Rad A Common Stock at a weighted average price of $306.182, executed in multiple trades between $306.104 and $306.230.

Following the sale, the reporting person directly beneficially owns 509.682 shares.

BIO: A holder filed a Form 144 notice to sell up to 701 common shares on the NYSE. The filing lists Morgan Stanley Smith Barney LLC as broker and shows an aggregate market value $214,633.08 for the proposed sale, with an approximate sale date 11/06/2025.

The shares were acquired through restricted stock and an employee stock purchase plan in multiple lots: 214 (restricted on 09/06/2025), 385 (restricted on 09/01/2025), 70 (restricted on 09/03/2024), 29 (ESPP on 03/28/2024), and 3 (ESPP on 12/29/2023), totaling 701. Shares outstanding were 21,906,399; this is a baseline figure, not the amount being offered.

Bio-Rad Laboratories’ controlling shareholders filed Amendment No. 9 to Schedule 13D for the Class B Common Stock. The filing reflects estate-related changes and confirms continued control. Blue Raven Partners, L.P. directly holds 4,060,054 Class B shares, representing 80.1% of the class. Norman D. Schwartz is deemed to beneficially own 4,929,036 Class B shares (97.2%), including shares held via trusts where he is sole trustee. Steven D. Schwartz is deemed to beneficially own 4,098,294 Class B shares (80.8%). The Alice N. Schwartz Revocable Trust holds 437,510 Class B shares (8.6%). Percentages are based on 5,070,184 Class B shares outstanding as of July 28, 2025.

The purpose stated is control of the company, and the shareholders “control the management” and may be deemed “parents” of the company. The filing notes that due to the death of Mrs. Alice N. Schwartz on September 25, 2025, she ceased to be a beneficial owner of more than 5% of the Class B. The amendment also lists historical option exercises and inter‑family gifts of Class B shares.

Bio-Rad Laboratories (BIO) filed an amended Schedule 13D reporting updated ownership and control details following changes within the Schwartz family trusts. Norman D. Schwartz reports beneficial ownership of 3,228,922 shares of Class A Common Stock, representing 14.6% of that class, including shares held directly, by trusts for which he is sole trustee, and options exercisable within sixty days of September 25, 2025.

The Alice N. Schwartz Revocable Trust holds 1,781,356 Class A shares, or 8.1%. The filing notes that, due to the death of Mrs. Alice N. Schwartz on September 25, 2025, she ceased to be a beneficial owner of more than 5% of Class A. For Class B Common Stock, Norman D. Schwartz reports beneficial ownership of 4,929,036 shares, representing 97.2% of the class, including shares held through Blue Raven Partners, L.P. and trusts he oversees. The stated purpose of ownership is control of the company.

Bio‑Rad Laboratories reported Q3 2025 net sales of $653.0 million, roughly flat year over year, with income from operations of $65.3 million. A $495.3 million loss from the change in fair value of equity securities and a tax benefit of $89.2 million drove a net loss of $341.9 million for the quarter.

For the first nine months, net sales were $1,890.0 million and net income $39.9 million. Operating cash flow reached $367.3 million. The company repurchased $295.5 million of shares year to date.

Bio‑Rad closed the acquisition of Stilla Technologies on June 30, 2025 for total preliminary consideration of $257.7 million, including cash paid to sellers, debt repayments, escrow, and $28.6 million of contingent consideration (up to $50.0 million tied to milestones). Cash and cash equivalents were $395.8 million and short‑term investments $1,022.8 million as of September 30, 2025. Long‑term debt consisted of $1.2 billion of senior notes. The fair value loss related to the Sartorius AG stake was $505.1 million in Q3.