Bio-Rad reported Q1 revenue of $592.1 million, a GAAP loss of $527.1 million ($19.55 per share) and non-GAAP net income of $51 million ($1.89 per diluted share), compared with $71 million ($2.54 per share) in the year-ago quarter. Adjusted earnings reflected one-time impacts, while revenue trends were weighed by regional disruptions.

The company now expects currency-neutral revenue growth between -3% and +0.5% for full-year 2026, down from prior targets, citing ongoing geopolitical disruption in the Middle East and constrained academic funding in the Americas. This revised outlook incorporates headwinds in diagnostics demand and logistical challenges.

Clinical Diagnostics sales were hit hardest by the Middle East conflict, where fast-growing markets saw significant slowdown, and Life Science instrument purchases in the Americas remained muted due to funding shifts. Bio-Rad is evaluating cost actions such as reducing discretionary spending and pursuing structural changes to protect margins.

The Stilla acquisition is on track to be accretive by mid-year, supporting both revenue and margin expansion. Meanwhile, the new QX700 platform is driving conversions from ddPCR with an expanding assay menu and publication support, and the company anticipates a 5% revenue lift in Q2 with further modest gains in Q3.