Revenue Performance - Bruker's Q4 2024 revenues reached $979.6 million, a 14.6% increase from $854.5 million in Q4 2023, with organic revenue growth of 3.9% and constant-exchange rate (CER) revenue growth of 15.8%[4] - For FY 2024, Bruker reported revenues of $3.37 billion, up 13.6% from $2.96 billion in FY 2023, with organic revenue growth of 4.0% and CER revenue growth of 14.0%[9] - Revenue for Q4 2024 was $979.6 million, a 14.6% increase from $854.5 million in Q4 2023[31] - Total revenue for the year 2024 reached $3,366.4 million, up 13.6% from $2,964.5 million in 2023[31] - The company achieved a total revenue of $3,366.4 million for the twelve months ended December 31, 2024, up from $2,964.5 million in 2023, marking a growth rate of 13.6%[39] Earnings and Profitability - The non-GAAP diluted EPS for Q4 2024 was $0.76, an 8.6% increase compared to $0.70 in Q4 2023, while FY 2024 non-GAAP diluted EPS was $2.41, down 6.6% from $2.58 in FY 2023[8][12] - Non-GAAP gross profit for Q4 2024 was $514.2 million, up from $442.8 million in Q4 2023, representing a growth of 16.2%[34] - Non-GAAP gross profit margin increased to 52.5% in Q4 2024 from 51.8% in Q4 2023[34] - Non-GAAP operating income for the twelve months ended December 31, 2024, was $518.0 million, compared to $546.3 million for the same period in 2023, reflecting a decrease of 5.2%[34] - Non-GAAP net income attributable to Bruker Corporation for Q4 2024 was $115.4 million, compared to $102.4 million in Q4 2023, an increase of 12.8%[37] - Non-GAAP earnings per share (diluted) for the three months ended December 31, 2024, was $0.76, compared to $0.70 in the same period of 2023, reflecting an increase of 8.6%[38] Future Projections - Bruker expects FY 2025 revenues to be between $3.47 billion and $3.54 billion, representing a year-over-year growth of 3% to 5%[13] - The company anticipates FY 2025 non-GAAP EPS to range from $2.67 to $2.72, indicating an increase of 11% to 13% year-over-year[13] - Bruker projects organic revenue growth of 3% to 4% and M&A revenue growth contribution of 2% to 3% for FY 2025, with a foreign currency translation headwind of approximately 2%[15] Operational Metrics - In Q4 2024, Bruker achieved a non-GAAP operating margin of 18.1%, fully offsetting initial margin headwinds from strategic M&A and foreign exchange impacts[6] - The company reported a GAAP operating income of $72.1 million in Q4 2024, down from $103.5 million in Q4 2023, while non-GAAP operating income increased by 14.9% to $177.5 million[7] - Operating income for Q4 2024 was $72.1 million, down from $103.5 million in Q4 2023, reflecting an operating income margin of 7.4%[31] Cash Flow and Assets - Non-GAAP free cash flow for Q4 2024 was $151.1 million, down from $174.0 million in Q4 2023, a decrease of 13.2%[34] - Total assets increased to $5,810.4 million in 2024 from $4,249.9 million in 2023[30] - Long-term debt rose to $2,061.8 million in 2024, up from $1,160.3 million in 2023[30] - Cash and cash equivalents decreased to $183.4 million in 2024 from $488.3 million in 2023[30] Segment Performance - Bruker BioSpin segment revenue increased to $272.4 million for the three months ended December 31, 2024, from $257.9 million in 2023, reflecting a growth of 5.5%[39] - The Bruker CALID segment reported revenue of $320.6 million for the three months ended December 31, 2024, compared to $257.2 million in 2023, representing a significant increase of 24.6%[39] Currency Impact - Revenue growth from acquisitions contributed 11.9% in Q4 2024, while foreign currency translation had an unfavorable impact of 1.2%[4] - The company experienced a negative impact of $9.9 million from changes in foreign currency translation rates for the three months ended December 31, 2024[40]

Core Insights - Bruker Corporation has launched the LUMOS II ILIM, a quantum cascade laser-based infrared imaging microscope, which sets new performance standards for capturing ultrafast IR images with enhanced spatial resolution, expected to significantly boost the CALID segment [1][4]. Company Developments - Following the announcement of the LUMOS II ILIM on January 8, Bruker shares increased by 3.3%, closing at $62.95, with strong demand noted in the CALID segment for differentiated instruments [2]. - The company has a market capitalization of $9.21 billion, with a projected revenue increase of 13.1% for 2024 according to the Zacks Consensus Estimate [3]. - The LUMOS II ILIM features a patented coherence reduction method for infrared imaging, allowing for rapid determination of chemical complexity in biological tissues [4]. - The microscope integrates AI-powered data evaluation, enabling discoveries in life science and pharma research, and supports multimodal imaging for enhanced analytical depth [5]. Industry Prospects - The global infrared imaging market was valued at $7.35 billion in 2023 and is expected to grow at a compound annual growth rate of 6.1% by 2030, with a focus on multispectral imaging and AI integration [6]. - In addition to the LUMOS II ILIM, Bruker launched the Dimension Nexus atomic force microscope in December 2024, enhancing access to advanced AFM technology [7][8]. - Bruker's 1.2 GHz Ascend NMR spectrometer has been accepted at the Swiss High-field NMR Facility, significantly enhancing research capabilities in structural biology [9]. Stock Performance - Over the past 30 days, Bruker shares have gained 10.1%, contrasting with a 1.5% decline in the industry [10].

Group 1 - Bruker Corporation (BRKR) has been added to the Zacks Rank 5 (Strong Sell) List due to a 7.3% downward revision in the consensus estimate for its current year earnings over the last 60 days [1] - Commercial Metals Company (CMC) is also on the Zacks Rank 5 (Strong Sell) List, with a 14.5% downward revision in the consensus estimate for its current year earnings over the last 60 days [1] - Concentrix Corporation (CNXC) has seen a 5.5% downward revision in the consensus estimate for its current year earnings over the last 60 days, leading to its inclusion in the Zacks Rank 5 (Strong Sell) List [2]

Company Overview - Bruker Corporation (BRKR) announced a new technology, EpicIF, to enhance its CellScape Precise Spatial Proteomics platform for highly multiplexed immunofluorescence [1] - The EpicIF technology is expected to expand antibody compatibility and double throughput while preserving tissue integrity and preventing cross-reactivity [1][4] Product Details - The CellScape platform, launched in 2022, analyzes protein expression within cellular contexts, providing high-resolution insights into spatial proteomics [2][3] - CellScape allows researchers to map proteins in tissue samples, revealing cell-specific protein patterns and interactions, which is crucial for cancer research, drug discovery, and personalized medicine [3] - EpicIF enhances photobleaching efficacy by combining a proprietary reagent with visible light, allowing for the erasure of fluorescence signals while preserving epitopes and tissue integrity [5] Market Performance - Following the announcement of EpicIF, BRKR shares fell by approximately 4.6% to $57.73, with a year-to-date decline of 21.5%, compared to a 4% decline in the industry and a 26.1% increase in the S&P 500 [2] - Bruker currently has a market capitalization of $8.8 billion [2] Industry Prospects - The global spatial proteomics market was valued at $77.6 billion in 2023 and is projected to grow at a CAGR of 14.8% from 2024 to 2030 [6] - Growth in the market is driven by technological advancements and increasing demand for in-depth protein analysis, particularly through advanced imaging and mass spectrometry techniques [7]

Financial Performance - Total revenue for Q3 2024 was $864.4 million, a 16.3% increase from $742.8 million in Q3 2023[9] - Product revenue reached $709.3 million, up 15.3% from $615.1 million year-over-year[9] - Net income attributable to Bruker Corporation was $40.9 million in Q3 2024, down 53.7% from $88.1 million in Q3 2023[9] - Gross profit for Q3 2024 was $418.8 million, compared to $382.8 million in Q3 2023, reflecting a gross margin improvement[9] - Operating income decreased to $68.1 million in Q3 2024 from $124.5 million in Q3 2023, indicating a decline in operational efficiency[9] - Consolidated net income for the quarter is $50.9 million, with a comprehensive income of $52.3 million[13] - The company reported a consolidated net income of $40.9 million for the quarter ending September 30, 2024[13] - For the three months ended September 30, 2024, net income attributable to Bruker Corporation was $40.9 million, compared to $30.0 million for the same period in 2023, representing a year-over-year increase of 36.3%[114] Expenses and Costs - Research and development expenses increased to $98.1 million in Q3 2024, up 37.6% from $71.3 million in Q3 2023, highlighting a focus on innovation[9] - Selling, general and administrative expenses accounted for 26.6% of total revenue, compared to 23.9% in the same period last year, driven by planned investments in sales and marketing[173] - Total other charges, net for the three months ended September 30, 2024, amounted to $22.7 million, compared to $9.4 million for the same period in 2023[125] - Restructuring charges for the three months ended September 30, 2024, were $4.3 million, down from $4.8 million in the same period of 2023[126] - The company incurred acquisition-related expenses of $6.8 million for the three months ended September 30, 2024, compared to $1.6 million in the same period of 2023[125] Assets and Liabilities - Total assets as of September 30, 2024, were $6,112.9 million, significantly higher than $4,249.9 million at the end of 2023[6] - Long-term debt rose to $2,264.5 million as of September 30, 2024, compared to $1,160.3 million at the end of 2023, indicating increased leverage[7] - Cash and cash equivalents decreased to $148.1 million from $488.3 million at the end of 2023, reflecting liquidity challenges[6] - The company reported a total shareholders' equity of $1,825.1 million as of September 30, 2024, up from $1,394.6 million at the end of 2023[8] - Total debt as of September 30, 2024, was $2,297.3 million, an increase from $1,281.5 million as of December 31, 2023[83] Revenue Segments - The BSI BioSpin segment generates revenue from academic, government, and industrial customers, focusing on magnetic resonance technology[17] - The BSI CALID segment provides mass spectrometry and molecular diagnostics solutions, serving a diverse customer base including pharmaceutical and biotechnology companies[18] - The BSI NANO segment focuses on advanced microscopy and analytical tools, catering to nanotechnology and semiconductor industries[19] - The BEST segment develops superconducting materials for applications in healthcare and renewable energy[20] - Revenue from BSI BioSpin segment was $233.0 million for the three months ended September 30, 2024, compared to $198.3 million in 2023, reflecting a 17.5% growth[28] - The BSI NANO Segment saw a revenue increase of 48.4% to $287.1 million, attributed to the NanoString acquisition and strong demand in the semiconductor metrology market[171] Acquisitions and Investments - The company completed acquisitions totaling $1,627.0 million in cash consideration during the nine months ended September 30, 2024[38] - The acquisition of NanoString Technologies, Inc. was completed for approximately $392.6 million in cash, enhancing the company's spatial biology capabilities[39] - ELITechGroup was acquired for $951.9 million in cash, with a net consideration of $931.2 million after adjustments[43] - The company acquired 100% of Dynamic Biosensors GmbH for approximately $21.0 million on October 1, 2024[142] - The company integrated ELITech and Nanostring into its BSI CALID and BSI NANO segments, respectively, enhancing its capabilities in molecular diagnostics and life science[151] Cash Flow and Liquidity - Cash provided by operating activities decreased to $61.3 million from $144.6 million, reflecting a decline of 57.5% year-over-year[15] - Net cash used in investing activities significantly increased to $1,696.7 million from $289.2 million, indicating a rise of 485.5%[15] - The company reported a cash balance of $151.7 million at the end of the period, down from $366.9 million at the end of September 2023[15] - The net change in cash, cash equivalents, and restricted cash for the nine months ended September 30, 2024, was a decrease of $339.9 million[201] - The company anticipates that existing cash and credit facilities will be sufficient to support operating and investing needs for at least the next twelve months[198] Tax and Compliance - The effective tax rate for the three months ended September 30, 2024, was 26.8%, up from 25.8% in 2023, primarily due to changes in jurisdictional mix and net unfavorable discrete activities[110] - The income tax provision for the nine months ended September 30, 2024, was $50.7 million, compared to $80.6 million for the same period in 2023, reflecting a decrease in effective tax rate from 33.6% to 26.6%[110] - The Company had gross unrecognized tax benefits of approximately $71.7 million as of September 30, 2024, compared to $58.5 million as of December 31, 2023[112] Stock and Shareholder Information - Cash dividends paid to common shareholders amounted to $7.7 million, at a rate of $0.05 per share[13] - The number of common shares outstanding increased to 145,334,000 by March 31, 2024[13] - As of September 30, 2024, $369.9 million remains available for future purchases under the 2023 Repurchase Program, which authorizes up to $500.0 million in stock repurchases[117] - The Company did not purchase any shares under the 2023 Repurchase Program during the three and nine months ended September 30, 2024[118]

Earnings Performance - Adjusted EPS for Q3 2024 was 60 cents, down 18.9% YoY, missing the Zacks Consensus Estimate by 1.6% [1] - GAAP EPS was 27 cents compared to 60 cents in the year-ago period [1] - Following the earnings announcement, BRKR stock rose 1.7% in aftermarket trading [2] Revenue Analysis - Q3 2024 revenues were $864.4 million, up 16.4% YoY but missed the Zacks Consensus Estimate by 0.1% [3] - Organic revenue growth was 3.1%, excluding 12.5% from acquisitions and 0.7% from foreign currency impacts [3] - US revenues increased 13.2% YoY to $239.0 million, exceeding the model forecast of $233.9 million [3] - Europe revenues rose 15.1% YoY to $290 million, below the model forecast of $322.1 million [4] - Asia Pacific revenues increased 14.4% YoY to $262.4 million, below the model forecast of $267.7 million [4] - Other category revenues surged 44.8% YoY to $73 million, significantly above the model forecast of $26.9 million [4] Segmental Performance - BSI segment revenues grew 18.2% YoY to $799.5 million [5] - BioSpin Group revenues increased 17.5% YoY to $233 million, below the model forecast of $247.3 million [6] - CALID revenues rose 16.8% YoY to $279.4 million, slightly below the model forecast of $280.8 million [7] - NANO revenues climbed 20.3% YoY to $287.1 million, above the model forecast of $260.8 million [7] - BEST segment revenues declined 2.7% YoY to $68.7 million, below the model forecast of $77.3 million [8] Margin Trends - Gross profit increased 9.4% to $418.6 million, but gross margin contracted 308 bps to 48.4% due to a 23.8% rise in costs [9] - SG&A expenses rose 30.2% to $229.9 million, and R&D expenses increased 37.6% YoY to $98.1 million [10] - Adjusted operating expenses grew 32.2% YoY to $328.0 million [10] - Adjusted operating profit declined 32.7% YoY to $90.8 million, with the adjusted operating margin contracting 766 bps to 10.5% [10] Financial Position - Cash and cash equivalents stood at $148.1 million at the end of Q3 2024, down from $169.7 million at the end of Q2 [11] - Total long-term debt increased to $2.26 billion from $1.16 billion at the end of Q2 [11] - Cumulative net cash flow from operating activities was $61.3 million, down from $144.6 million in the comparable period last year [11] 2024 Guidance - Full-year 2024 revenue guidance lowered to $3.34-$3.37 billion from $3.38-$3.44 billion, indicating YoY growth of 12.5%-13.5% [12] - Adjusted EPS guidance for 2024 revised to $2.36-$2.41 from $2.59-$2.64 [13] Strategic Developments - Completed three strategic acquisitions in H1 2024, accelerating portfolio transformation and market expansion into spatial biology, molecular diagnostics, and laboratory automation [15] Industry Comparison - Phibro Animal Health (PAHC) reported Q4 fiscal 2024 adjusted EPS of 41 cents, beating estimates by 20.6%, with revenues of $273.2 million exceeding estimates by 4.1% [16][17] - Quest Diagnostics (DGX) reported Q3 2024 adjusted EPS of $2.30, beating estimates by 1.8%, with revenues of $2.49 billion exceeding estimates by 3.4% [17] - HealthEquity (HQY) reported Q2 fiscal 2025 adjusted EPS of 86 cents, surpassing estimates by 22.9%, with revenues of $299.9 million exceeding estimates by 5.4% [18][19]

| --- | --- | |------------------------------------------------------------------------------------------------------------|-------| | | | | Q3 2024 Earnings Presentation BRUKER CORPORATION (NASDAQ: BRKR) | | | November 5, 2024 Frank H. Laukien, President & Chief Executive Officer | | | Gerald Herman, Executive Vice President & Chief Financial Officer Joe Kostka, Director, Investor Relations | | BRUKER CORPORATION Safe Harbor Statement Any statements contained in this presentation which do not describe hist ...

Bruker Corporation (NASDAQ:BRKR) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET Company Participants Joe Kostka - Director, Investor Relations Frank Laukien - President and CEO Gerald Herman - Executive Vice President and CFO Conference Call Participants Puneet Souda - Leerink Partners Michael Ryskin - Bank of America Patrick Donnelly - Citi Rachel Vatnsdal - JPMorgan Tycho Peterson - Jefferies Josh Waldman - Cleveland Research Dan Brennan - TD Cowen Brandon Couillard - Wells Fargo Luke Sergot ...

Exhibit 99.1 Bruker Reports Third Quarter 2024 Financial Results • Q3 2024 revenues of $864.4 million, up 16.4% year-over-year (yoy); Bruker organic revenue up 3.1% yoy, and CER revenue up 15.7% yoy; BSI segment organic revenue up 3.8% yoy • Q3 2024 GAAP diluted EPS $0.27; non-GAAP diluted EPS $0.60 • Updated FY2024 guidance: o Revenue $3.34 to $3.37 billion, implying Bruker organic revenue growth of 3% to 4%, and CER revenue growth of approximately 13% yoy o Non-GAAP EPS of $2.36 - $2.41 BILLERICA, Massach ...

Biognosys' proprietary P2 Plasma Enrichment System enables plasma proteome profiling with unprecedented depth and throughput, both as contract research and in-house via licensing By offering the combination of NULISA™ affinity-based assays and TrueDiscovery® mass spectrometry-based plasma profiling with P2 Plasma Enrichment, Biognosys offers the industry's most comprehensive solutions for plasma proteomics Spectronaut® workflows for high-performance computing environments, post-translational modifications, ...