| __timestamp | Bio-Techne Corporation | MiMedx Group, Inc. |
|---|---|---|
| Wednesday, January 1, 2014 | 106352000 | 12665000 |
| Thursday, January 1, 2015 | 144969000 | 20202000 |
| Friday, January 1, 2016 | 162364000 | 32407000 |
| Sunday, January 1, 2017 | 188462000 | 35219000 |
| Monday, January 1, 2018 | 210850000 | 36386000 |
| Tuesday, January 1, 2019 | 240515000 | 43081000 |
| Wednesday, January 1, 2020 | 255497000 | 39330000 |
| Friday, January 1, 2021 | 298182000 | 43283000 |
| Saturday, January 1, 2022 | 349103000 | 48316000 |
| Sunday, January 1, 2023 | 366887000 | 54634000 |
| Monday, January 1, 2024 | 389335000 |
Cracking the code
Over the past decade, the biotech industry has witnessed significant shifts in cost structures. Bio-Techne Corporation, a leader in the sector, has seen its cost of revenue grow by approximately 266% from 2014 to 2023. Starting at around $106 million in 2014, it surged to nearly $389 million by 2023. This growth reflects the company's expanding operations and increased investment in research and development.
In contrast, MiMedx Group, Inc. experienced a more modest increase of about 331% over the same period, with costs rising from $12.7 million to $54.6 million. However, data for 2024 is missing, indicating potential reporting delays or strategic shifts.
These trends highlight the dynamic nature of the biotech industry, where companies must balance innovation with financial sustainability to thrive in a competitive market.
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