Bio-Rad Presents Growth Strategy and Acceleration of Financial Targets at Investor Day

Bio-Rad Laboratories, Inc., a global leader of life science research and clinical diagnostic products, is hosting an in-person investor day beginning at 10:30 a.m. EST today in New York City. During the event, members of Bio-Rad’s executive leadership team will provide an in-depth overview of the Company’s growth strategy and new long-term financial targets, as well a closer look at the drivers within the two core business segments – Life Science Research and Clinical Diagnostics.

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“Management’s Discussion and Analysis of Financial Condition and Results of Operations”

During its investor day in 2017, Bio-Rad stated a target revenue growth range of 3-5%, and an adjusted EBITDA margin target of 20%+ in 2020, both of which the Company exceeded. For 2025, the Company expects to enhance its financial profile even further, targeting about 9% core revenue CAGR from 2021 to 2025, and 28% adjusted EBITDA margin in 2025. We define core revenue as currency neutral non-GAAP revenue and excludes COVID-related sales.

Norman Schwartz, Bio-Rad’s Chief Executive Officer, commented: “Having exceeded all of the long-term financial targets we outlined in 2017, we are now excited to share the details of our growth strategy and how we are poised to enhance our financial profile even further. Our leadership team is embarking on the next phase of our transformation and we are well-positioned to achieve the new financial targets for 2025. Laying the groundwork for accelerated growth and improved profitability, we are continuing to expand our global footprint, customer base and product portfolio. We are also introducing new products and capabilities, with an expanded suite of ddPCR products, initial offerings in single cell analysis, and molecular diagnostics.”

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Company presentations will provide greater insight into Bio-Rad’s strategy and objectives, including:

• Accelerating revenue growth through ongoing portfolio transformation, increased focus in biopharma, and key product franchises,
• Optimizing cost structure and aligning the organization with the most promising growth opportunities,
• Achieving improved operating efficiencies and enabling greater operating leverage,
• Generating significant cash flow to support a prudent capital allocation strategy, and
• Deploying capital for strategic acquisitions delivering topline and margin expansion.

Bio-Rad’s two highly complementary business segments, Life Science Research and Clinical Diagnostics, are focused on large addressable markets with attractive growth characteristics. The Life Science Research segment is at the forefront of discovery, creating advanced tools to answer complex biological questions. Significant growth drivers are in our rapidly expanding ddPCR and protein processing product families, deeper penetration in the biopharma segment, and cell biology innovation. The Clinical Diagnostics segment designs, manufactures, sells and supports test systems, informatics systems, test kits, and specialized quality controls that serve clinical laboratories in the global diagnostics market. Here we see accelerated growth driven by a focus on laboratory workflow productivity, our quality control value proposition, and new opportunities in molecular diagnostics.

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