Revenue and Operating Margin Exceed Expectations
Both revenue and operating margin exceeded consensus expectations for the second quarter of 2025, demonstrating strong portfolio performance and team discipline. Revenue was approximately $652 million, a 2.1% increase from the previous year.
Life Science Segment Growth
The Life Science segment saw a 4.9% increase in sales, primarily driven by growth in process chromatography and food safety products. The process chromatography business experienced double-digit year-over-year growth.
Droplet Digital PCR (ddPCR) Advancements
The development of the QX Continuum platform was completed, and the acquisition of Stilla Technologies was closed. The rebranded QX700 Series ddPCR instruments were launched.
Clinical Diagnostics Stability
The Clinical Diagnostics business showed stability with sales of approximately $389 million, supported by increased demand for quality control and immunology products.
Improved Free Cash Flow
Free cash flow for the second quarter was $71 million, up from $55 million in Q2 2024, with a year-to-date free cash flow to non-GAAP net income conversion ratio of 117%.