BioSpin Group revenue was roughly flat at $403 million; CALID Group grew in the low teens percentage; Bruker Nano grew in the low single digits; BEST segment declined in the low teens percentage.
Bruker's Q2 2025 reported revenues decreased 0.4% year-over-year to $797.4 million, with a 7.0% organic decline and a 2.9% FX tailwind.
Diluted non-GAAP EPS was $0.32, down 39% from $0.52 in Q2 2024, impacted by organic revenue decline, tariffs, and foreign exchange headwinds.
First half 2025 revenues increased 5.0% to $1.60 billion, with a 2.3% organic revenue decline.
Non-GAAP gross margin decreased 270 basis points to 48.6% in Q2 2025.
Non-GAAP operating margin for Q2 2025 was 9.0%, down 480 basis points year-over-year due to lower revenue absorption, tariffs, and currency headwinds.
Operating cash flow decreased by $85 million in H1 2025 due to timing of tax payments and other items, resulting in a free cash outflow of $110 million.
Organic revenue decline was 7.2% in the BSI segment and 4.8% in the BEST segment, with acquisitions contributing 3.7% growth.
Weighted average diluted shares increased to 151.7 million due to a follow-on equity offering.
Adjusted EBITDA reached an all-time high of $138 million, a 26% increase, with margin expansion of 130 basis points due to pricing and productivity gains.
Cash and marketable securities ended at $858 million.
Exact Sciences delivered a record 1.3 million test results in Q2 2025, with core revenue growth accelerating to 16% year-over-year.
Free cash flow was $47 million in Q2, with year-to-date free cash flow increasing by $95 million compared to the prior year.
GAAP net income was negative $1 million, including $15 million in one-time operational efficiency costs.
Precision oncology revenue grew 9% to $179 million on a core basis, supported by Oncotype DX international adoption and sublicensing revenue from TwinStrand technology.
Screening revenue increased 18% to $628 million, driven by Cologuard rescreens, care gap programs, and improved commercial execution.
Adjusted EPS grew 8% to $1.10 driven by strong base business growth, margin expansion, and share buybacks.
Adjusted gross margin expanded 550 basis points year-over-year to 60.8%, aided by Persona technology, price initiatives, product mix, and a one-time 210 basis point benefit from a plasma software license fee.
Adjusted operating income increased 9% to $78 million or 24.1% of revenue, up 300 basis points year-over-year.
Haemonetics reported Q1 fiscal 2026 revenue of $321 million, down 4% reported due to $52 million portfolio transitions but up 13% organically excluding CSL.
Net leverage was 2.53x EBITDA with $293 million cash on hand and strong liquidity including a $750 million revolving credit facility.
Operating cash flow was $17 million and free cash flow was $2.5 million, a significant improvement from a $17 million outflow last year.
Dafinchi