Bruker Corporation (BRKR) 53rd Annual Nasdaq Investor Conference December 10, 2025 5:00 AM EST
Company Participants
Gerald Herman – Executive VP & CFO
Conference Call Participants
Aisyah Noor – Morgan Stanley, Research Division
Presentation
Aisyah Noor
Morgan Stanley, Research Division
Great. Can everyone hear me? Can everyone hear us? Okay. Fantastic. Welcome, everyone. It’s great to have you. Welcome, Gerald Herman, CFO of Bruker. I’m Aisyah Noor, European medtech analyst with Morgan Stanley, and it’s my pleasure to host this fireside chat today with Bruker.
As you can see, there’s no fire because of budget cuts, but I can promise this can be a warm and engaging session. We have about 30 minutes for Q&A. So let’s get right into it.
Maybe some research disclaimers. If any questions, please reach out to your salesperson or morganstanley@researchdisclosures.com.
Question-and-Answer Session
Aisyah Noor
Morgan Stanley, Research Division
So let’s start. It’s been a turbulent year for the life science end market and we’ve had some guidance revisions across the sector. Maybe if you can start with giving us a bit of a brief of your third quarter results and your updated guidance following that.
Gerald Herman
Executive VP & CFO
Sure. Hello, everyone. I’m Gerald Herman. Great to be here again in London. Yes, we had a fairly mixed story for the third quarter. Probably the highlight was the order bookings performance for the third quarter of ’25. We posted a book-to-bill ratio of over 1 which, given our revenue performance of over $860 million in the quarter, is pretty solid especially under the current market dynamics.
From an order perspective, we are pleased to see significant strength in the academic and government research area in orders excluding the U.S. As some of you may know, the U.S. ACA/GOV market for Bruker is only about 8% of
