NEW YORK – BioMérieux reported Friday that its fourth quarter revenues increased 10 percent year over year due in part to momentum in the BioFire and SpotFire syndromic testing businesses.
For the three months ended Dec. 31, 2024, BioMérieux had revenues of €1.11 billion ($1.20 billion), up from €1.01 billion in the prior-year period. Revenues were also up by 10 percent at constant exchange rates and scope of consolidation.
Clinical applications revenues increased approximately 11 percent in the quarter to €946.7 million from €854.5 million in Q4 2023.
Within clinical applications, molecular biology revenues increased 16 percent to €493.0 million from €424.2 million in the prior-year period.
BioFire sales increased 10 percent over Q4 2023 to €435.0 million from €395.0 million, while SpotFire sales more than doubled to €41.7 million from €15.1 million. Other molecular sales increased 15 percent to €16.3 million from €14.1 million.
Sales of non-respiratory BioFire FilmArray panels — which includes Blood Culture Identification 2, Gastrointestinal, Meningitis/Encephalitis, Pneumonia, Joint Infection, and Tropical Fever — increased 15 percent in Q4, the firm said, while respiratory panel sales increased 7 percent. BioMérieux said the installed base of FilmArray instruments grew by 500 in the quarter, while the BioFire SpotFire installed base increased by 900 instruments.
Revenues within BioMérieux's microbiology business increased 4 percent to €349.3 million from €335.8 million in Q4 2023, which BioMérieux said was driven by high single-digit growth in sales of blood culture BACT/ALERT and Vitek automated ID/AST reagents offset by lower sales of instruments.
Immunoassay sales, meanwhile, declined approximately 6 percent to €86.5 million from €91.6 million a year ago, which the firm attributed to the continued decrease of procalcitonin assay sales. Excluding PCT, Vidas sales were up 5 percent in the quarter, the firm said.
Sales in other lines, which include BioFire Defense and R&D-related revenue arising from clinical applications, increased approximately sixfold to €17.9 million from €3.0 million.
Industrial applications revenues in Q4 were up 7 percent to €162.5 million from €151.7 million in Q4 2023, due to double reagent sales growth in the food and pharma segments.
In the quarter, BioMérieux acquired SpinChip Diagnostics and obtained 510(k) clearance from the US Food and Drug Administration for its BioFire FilmArray Tropical Fever panel and a mid-plex gastrointestinal panel.
For full-year 2024, BioMérieux reported total revenues rose approximately 8 percent to €3.98 billion from €3.67 billion in 2023, or approximately 10 percent at constant exchange rates and scope of consolidation.
"Our 2024 performance demonstrates BioMérieux's ability to reach our [2028 strategic plan] ambition," Pierre Boulud, the firm's CEO, said in a statement. "SpotFire sales accelerated significantly, BioFire maintained its market leadership in sales and new installations, and we continued to gain market shares in microbiology and industrial applications," he added.
Full-year 2024 revenues from clinical applications totaled €3.37 billion, up nearly 9 percent from €3.01 billion in 2023.
Within clinical applications, molecular biology revenues jumped 16 percent to €1.65 billion from €1.42 billion. BioFire revenues for the year were up 12 percent to €1.49 billion from €1.33 billion, while the firm's 18-month-old SpotFire business more that quadrupled to €94.8 million from €20.4 million. Other molecular sales declined approximately 6 percent to €58.3 million from €61.9 million.
Microbiology revenues, meanwhile, increased 5 percent to €1.33 billion from €1.27 billion in 2023. BioMérieux said that the total BioFire installed base reached 26,750 units at the end of 2024.
Full-year 2024 immunoassay revenues declined approximately 9 percent to €341.4 from €373.0 million, while revenues from other lines in the clinical applications business increased approximately 31 percent year over year to €55.3 million from €42.4 million.
Revenues from industrial applications in 2024 were €606 million, up 5 percent from €575.4 million in the prior year.
For full-year 2024, the company reported €1.10 billion in SG&A expenses, up 10 percent from 2023, resulting from continued investment in marketing and commercial capabilities, an increase in variable compensation in a strong year, and the impact of hyperinflation in Argentina and Turkey, according to BioMérieux.
The firm's R&D spending was €491.5 million, an increase of 7 percent year over year, reflecting increased salaries and investment in new microbiology and molecular solutions development, the company said.
Net income in 2024 was €432.2 million, or €3.64 per share, compared to net income of €357.7 million, or €3.01 per share, in 2023.
For 2025, BioMérieux is guiding for sales growth of at least 7 percent at constant exchange rates.
The firm expects double-digit growth in BioFire non-respiratory panel sales year over year, while respiratory panels sales are anticipated to be flat year over year.
Sales of SpotFire are expected to reach approximately €190 million. It also anticipates 7 percent growth in microbiology sales while immunoassay sales are expected to remain flat.