Bio-Rad Laboratories (BIO) risk factors, FY2025 10-K

Bio-Rad Laboratories's FY2025 10-K, filed Feb 13, 2026, lists 26 risk factors in 5 groups. Against the prior year's 28: 2 dropped, 7 substantially reworded.

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Risk factors listed
265 groups
New this year
0vs 28 last year
Dropped
2since the prior 10-K
Substantially reworded
7of those kept
Section length
9k wordsItem 1A

What the changes say

  • Bio-Rad's risk updates reflect evolving U.S. tax reform, supply chain regulatory pressures, and proposed federal funding reductions for customers.

What changed since the prior 10-K

Dropped

  • DroppedRisks relating to intellectual property rights may negatively impact our business

    The FDA has issued a final rule applicable to certain clinical diagnostic products referred to as laboratory developed tests. This change in the FDA approach could negatively impact our customers who use our Life Science products for laboratory developed tests

  • DroppedRisks Related to Our Common Stock

    of forum provision contained in the Company’s bylaws to be inapplicable or unenforceable in an action, the Company may incur additional costs associated with resolving such action in other jurisdictions

Reworded

  • 58% rewrittenRisks relating to intellectual property rights may negatively impact our business

    We are subject to substantial government regulation, and any changes in regulation or violations of regulations by us could adversely affect our business, prospects, results of operations or financial condition

    Retained core regulatory risks for Clinical Diagnostic products with minor formatting adjustments.

  • 44% rewrittenRisks Related to Our Common Stock

    The forum selection provision in our bylaws could increase costs to bring a claim, discourage claims or limit the ability of the Company’s stockholders to bring a claim in a judicial forum viewed by the stockholders as more favorable for disputes with the Company or the Company’s directors, officers or other employees

    Retained standard Delaware forum selection provision language with minor formatting adjustments.

  • 42% rewrittenBusiness, Economic, Legal and Industry Risks

    A reduction or interruption in the supply of components and raw materials has adversely affected and could continue to adversely affect our manufacturing operations and related product sales

    Added risks regarding raw material cost increases and potential cessation of essential components due to regulations.

  • 42% rewrittenBusiness, Economic, Legal and Industry Risks

    Global economic and geopolitical conditions could adversely affect our operations

    Removed specific mention of sanctions impacting business strictly within Russia, broadening it to general business impacts.

  • 40% rewrittenBusiness, Economic, Legal and Industry Risks

    Reductions in government funding and the capital spending programs of our customers have negatively impacted our revenue and could have a material adverse effect on our business, results of operations or financial condition

    Added a specific mention of proposed 2025 U.S. government reductions in federal funding to customer institutions.

    Was: Reductions in government funding and the capital spending programs of our customers could have a material adverse effect on our business, results of operations or financial condition

  • 32% rewrittenBusiness, Economic, Legal and Industry Risks

    Recent and planned changes to our organizational structure could negatively impact our business

    Removed specific reference to the 2021 reorganization of European operations from past restructuring activities.

  • 24% rewrittenRisks relating to intellectual property rights may negatively impact our business

    Changes in tax laws or rates, changes in the interpretation of tax laws or changes in the jurisdictional mix of our earnings could adversely affect our financial position and results of operations

    Replaced old tax discussion with an assessment of the new One Big Beautiful Bill Act enacted July 4, 2025.

All 26 risk factors

Headings as the filing states them, in filing order.

Business, Economic, Legal and Industry Risks

  1. 01Our international operations expose us to additional costs and legal and regulatory risks, which could have a material adverse effect on our business, results of operations and financial condition
  2. 02The industries and market segments in which we operate are highly competitive, and we may not be able to compete effectively
  3. 03We may not be able to grow our business because of our failure to develop new or improved products
  4. 04Global economic and geopolitical conditions could adversely affect our operations42% rewritten
  5. 05Reductions in government funding and the capital spending programs of our customers have negatively impacted our revenue and could have a material adverse effect on our business, results of operations or financial condition40% rewritten
  6. 06A reduction or interruption in the supply of components and raw materials has adversely affected and could continue to adversely affect our manufacturing operations and related product sales42% rewritten
  7. 07Breaches of our information systems could have a material adverse effect on our business and results of operations
  8. 08If our information technology systems are disrupted, or if we fail to successfully implement, manage and integrate our information technology and reporting systems, our business, results of operations and financial condition could be harmed
  9. 09We are subject to foreign currency exchange fluctuations, which could have a material adverse effect on our results of operations and financial condition
  10. 10Changes in the market value of our position in Sartorius AG materially impact our financial results
  11. 11The value of our position in Sartorius AG might cause us to be deemed an investment company under the Investment Company Act of 1940
  12. 12We have incurred and may continue to incur losses due to write-downs in the value of our financial instruments
  13. 13Recent and planned changes to our organizational structure could negatively impact our business32% rewritten

Risks relating to intellectual property rights may negatively impact our business

  1. 14Changes in the healthcare industry could have an adverse effect on our business, results of operations and financial condition
  2. 15We are subject to substantial government regulation, and any changes in regulation or violations of regulations by us could adversely affect our business, prospects, results of operations or financial condition58% rewritten
  3. 16We cannot assure you that we will be able to integrate acquired companies, products or technologies into our company successfully, or that we will be able to realize the anticipated benefits from the acquisitions
  4. 17Product quality and liability issues could harm our reputation and negatively impact our business, results of operations and financial condition
  5. 18Lack of key personnel could hurt our business
  6. 19We may have higher than anticipated tax liabilities
  7. 20Changes in tax laws or rates, changes in the interpretation of tax laws or changes in the jurisdictional mix of our earnings could adversely affect our financial position and results of operations24% rewritten
  8. 21Environmental, health and safety regulations and enforcement proceedings may negatively impact our business, results of operations and financial condition
  9. 22Use of generative AI and other AI technologies presents risks and challenges due to the evolving nature of AI
  10. 23Our current and future debt and related covenants may restrict our future operations
  11. 24We are subject to healthcare laws and regulations and could face substantial penalties if we are unable to fully comply with such laws

Risks Related to Our Common Stock

  1. 25A significant majority of our voting stock is held by the Schwartz family, which could lead to conflicts of interest
  2. 26The forum selection provision in our bylaws could increase costs to bring a claim, discourage claims or limit the ability of the Company’s stockholders to bring a claim in a judicial forum viewed by the stockholders as more favorable for disputes with the Company or the Company’s directors, officers or other employees44% rewritten

Other Bio-Rad Laboratories 10-Ks

  • FY2024 10-K risk factors
    28 risks

    International operations generate 59% of net sales, exposing the company to complex foreign regulations and currency fluctuations. Market value changes in the Sartorius AG position materially impact financial results and risk investment company status. The Schwartz family holds a significant majority of voting stock, controlling major decisions.

    Filed Feb 14, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.