17. Business Segment Information | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------|-----------------|-----------------------------------------|---------------------------|--------------|-------|-----------------------|--------------|------------| | Operating income by reportable segment | are presented | below (in \nThree Months \n2023 | millions): \nEnded June | 30, \n2022 | | Six Months \n2023 | Ended June | 30, \n2022 | | Operating income (loss): | ...

Bruker Corporation (NASDAQ:BRKR) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Justin Ward - Senior Director of IR & Corporate Development Frank H. Laukien - Chairman, President & CEO Gerald N. Herman - EVP & CFO Conference Call Participants Puneet Souda - Leerink Partners Michael Ryskin - Bank of America Joshua Waldman - Cleveland Research Daniel Arias - Stifel, Nicolaus & Company Patrick Donnelly - Citigroup Daniel Brennan - TD Cowen Rachel Vatnsdal - J.P. Morgan Jack Mee ...

Bruker Corporation Investor Day Summary Company Overview - **Company**: Bruker Corporation (NASDAQ: BRKR) - **Date of Call**: June 15, 2023 - **Participants**: - Frank Laukien - Chairman, President and CEO - Rohan Thakur - President, Life Sciences Mass Spectrometry Division - Oliver Rinner - CEO of Biognosys Key Industry and Company Insights Strategic Focus - Bruker is focusing on **Proteomics** and **Spatial Biology** as key growth areas, supported by their **Project Accelerate 2.0** initiatives [6][10] - The company aims to outgrow the market growth rate of **4% to 6%** by **200 to 300 basis points** per year, with a revenue growth guidance midpoint of **10%** for the current year [6][7] Financial Performance - Bruker has transitioned from a market growth company to one that significantly outgrows market rates, achieving **19% growth** two years ago, partly due to recovery from COVID-19 [7][8] - The company expects to maintain a **low 20% operating margin** and deliver **double-digit non-GAAP EPS growth** despite a **10% R&D investment** [8][9] Market Trends and Innovations - Bruker is capitalizing on large secular trends in **proteomics**, **lipidomics**, and **spatial biology**, with significant investments in R&D [10][12] - The **timsTOF** platform is highlighted as a revolutionary tool in proteomics, enabling faster and more comprehensive analyses [38][49] - The company is also involved in **clean tech** and **renewable energy**, particularly in battery technology and superconducting technologies [13][26] Product Development and Acquisitions - Bruker has made significant advancements in mass spectrometry, particularly with the **timsTOF Ultra** and its capabilities in **4D-proteomics** [35][49] - The acquisition of **Biognosys** enhances Bruker's capabilities in proteomics, providing advanced tools and services for drug discovery and development [52][60] Customer Base and Market Segmentation - The customer base includes **biopharma**, **academic institutions**, and **core facilities**, with a focus on providing comprehensive solutions for proteomics needs [58][59] - Bruker has seen exceptional growth in the **United States**, particularly in biopharma and academic medical research, with the Americas now accounting for **30%** of revenue [16] Cultural and Operational Excellence - The company emphasizes a culture of **customer success**, **integrity**, and **quality**, which is integral to its operational excellence and growth strategy [17][18] - Bruker’s management process is described as **disciplined entrepreneurialism**, which differentiates it from competitors [9][19] Additional Important Insights - The **MALDI BioTyper** is recognized as a leader in applied clinical proteomics, with over **5,500 systems** installed globally [51][23] - Bruker is actively pursuing advancements in **AI** and **machine learning** to enhance data analysis and proteomics applications [28][40] - The company is committed to continuous innovation, with a focus on improving sample throughput and reducing sample amounts required for analysis [50][39] Conclusion Bruker Corporation is strategically positioned to leverage its strengths in proteomics and spatial biology, supported by robust financial performance and a commitment to innovation. The integration of Biognosys further enhances its capabilities in the life sciences sector, positioning Bruker as a leader in the evolving landscape of proteomics and related technologies.

On a quarterly basis, the Company reviews minority investments and equity method investments to determine if there have been any events and conditions that could indicate an impairment or other-than temporary impairment. In the three months ended March 31, 2023, the Company recognized $6.9 million of impairment charge in "Interest and other income (expense), net" in the Consolidated Statement of Operations, to write-off the costs of certain minority investments. No impairments were noted in the three months ...

Financial Data and Key Metrics Changes - Bruker reported a revenue increase of 15.2% year-over-year to approximately $685.3 million in Q1 2023, with organic revenue growth of 17.6% [13][20][26] - Non-GAAP gross margin increased by 70 basis points to 53.4%, while non-GAAP operating margin rose by 80 basis points to 20.3% [5][22][50] - Non-GAAP EPS for Q1 2023 was $0.64, reflecting a 30.6% increase from $0.49 in Q1 2022 [24][40][48] Business Line Data and Key Metrics Changes - The BioSpin Group revenue reached $180 million, growing in the high-teens percentage on a constant currency basis, driven by strong performance in NMR and MRI preclinical imaging [6][13] - The CALID Group revenue was $237 million, increasing in the low 20s percentage on a constant currency basis, with strong growth in life science mass spectrometry and vibrational spectroscopy [15][20] - NANO's revenue was $210 million, growing in the low 20% range, supported by strong demand in academic, industrial, and GreenTech research [42] Market Data and Key Metrics Changes - In the Americas and European markets, BSI revenues grew in the low-double-digits, while Asia-Pacific revenue increased by over 30% year-over-year [49] - The Rest of World revenue declined slightly in Q1 2023 [49] Company Strategy and Development Direction - Bruker is advancing its Project Accelerate 2.0, focusing on high-growth, high-margin initiatives, particularly in proteomics and spatial biology [4][19][46] - The company plans to ramp investments in proteomics, spatial biology, biopharma, and semiconductor metrology to drive future growth [46][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for differentiated instruments and solutions, with a robust backlog providing good visibility for future growth [39][46] - The company raised its revenue guidance for the full year 2023 to a range of $2.83 billion to $2.88 billion, implying organic revenue growth of 9% to 11% year-over-year [52][53] Other Important Information - Bruker repurchased approximately 315,000 shares for about $22 million in Q1 2023, contributing positively to EPS [21][24] - The company expects a sequential decline in operating margin in Q2 2023, followed by recovery in the second half of the year [23][50] Q&A Session Summary Question: Could you elaborate on your approach to the updated organic growth guidance for '23? - Management indicated that they are exercising prudence in their guidance, considering the sequentially weaker Q2 [28][29] Question: Can you provide an update on the status of the loan program in China? - Management noted strong orders from China in Q1, primarily in high-end instrumentation, but indicated uncertainty about the continuation of the loan program [57][60] Question: What does the book-to-bill ratio look like for the quarter? - The book-to-bill ratio was slightly above 1, indicating strong order growth despite significant revenue growth [75] Question: How much of the first quarter strength was from order slippage from Q4 to Q1? - Management acknowledged some conservatism in guidance and noted that the exact impact of order slippage is still uncertain [136] Question: Can you provide more color on the growth in China during this quarter? - Management confirmed that while orders were strong, the conversion of those orders into revenue was limited due to backlog lead times [125][126]

Bruker Corporation (NASDAQ:BRKR) Cowen 43rd Annual Health Care Conference March 6, 2023 2:10 PM ET Company Participants Gerald Herman - EVP & CFO Conference Call Participants Max Masucci - Cowen & Co. Max Masucci Well again, welcome to TD Cowen's 43rd Annual Health Care Conference. I'm Max Masucci, one of the Life Science and Diagnostic Tools analysts here. We are pleased to be joined today by Bruker, one of the three large cap names in our coverage. And a diversified participant in several of the tools, di ...

Bruker Corporation (NASDAQ:BRKR) 2023 Citi Healthcare Services, Medtech, Tools & HCIT Conference March 2, 2023 9:30 AM ET Company Participants Gerald Herman - EVP & CFO Conference Call Participants Patrick Donnelly - Citi Patrick Donnelly All right. We can look to get started. Thanks, everyone for being here. I'm Patrick Donnelly, the Tools and Diagnostics analyst here at Citi. Happy to have Gerald Herman, CFO of Bruker with us for this session. Gerald Herman Hello. Patrick Donnelly Gerald, thanks for bei ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT of 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission File Number 000-30833 Delaware 04-3110160 (State or other jurisdiction of Incorporation or organization) (I.R.S. Employer Identification No.) 40 Mann ...

Bruker Corporation (NASDAQ:BRKR) Q4 2022 Earnings Conference Call February 9, 2023 8:30 AM ET Company Participants Justin Ward - Senior Director of Investor Relations & Corporate Development Frank Laukien - Chairman, President and Chief Executive Officer Gerald Herman - Executive Vice President and Chief Financial Officer Conference Call Participants Puneet Souda - SVB Securities Patrick Donnelly - Citi Jack Meehan - Nephron Josh Waldman - Cleveland Research Rachel Vatnsdal - JPMorgan Derik Bruin - Bank of ...

Bruker Corporation (NASDAQ:BRKR) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET Company Participants Justin Ward - Senior Director of Investor Relations & Corporate Development Frank Laukien - Chairman, President & Chief Executive Officer Gerald Herman - Executive Vice President & Chief Financial Officer Conference Call Participants Jack Meehan - Nephron Patrick Donnelly - Citi Puneet Souda - SVB Securities Dan Arias - Stifel Josh Waldman - Cleveland Research Nisarg Shah - Bank of America Rach ...