Qiagen N.V. Q4 FY2025 earnings call

• Exceeded fourth quarter outlook with sales and adjusted earnings above targets. Full year 2025 results at high end of expectation. - Reached important milestones across portfolio with growth pillars' combined sales growth. - Made progress on profitability and cash flow, returned capital to shareholders. - Announced change in Supervisory Board, welcomed Mark Stevenson and thanked Ross Levine. - Highlighted product portfolio progress like Parse acquisition for Sample technologies, QuantiFERON's new assay, QIAstat's menu expansion, QIAcuity's adoption, and QIAGEN Digital Insights' development.

In the fourth quarter, net sales were $540 million, growing 1% at CER. For the full year 2025, net sales were $2.09 billion, up 5% at CER. Growth pillars (Sample technologies, QuantiFERON, QIAstat, QIAcuity, QIAGEN Digital Insights) achieved combined sales of $1.49 billion at CER in '25, 8% growth at CER. Sample technologies had 5% CER growth in Q4 and 2% CER for full year. QuantiFERON had 5% CER growth in Q4 and 10% CER for full year. QIAstat grew 15% at CER in Q4 and 24% CER for full year. QIAcuity had double-digit growth in consumables and over 3,200 instruments installed. QIAGEN Digital Insights had continued growth. Adjusted operating income margin increased 80 basis points to 29.5% in 2025. Free cash flow was $453 million in 2025.

• For full year 2026, target sales growth of at least 5 percentage points CER and adjusted earnings per share of at least $2.50 at CER. - First quarter 2026 expected net sales growth of at least 1% CER, impacted by factors like discontinuation of NeuMoDx and Dialunox, cautious life science customer spending, and QuantiFERON's comparison. - Outlook for first quarter adjusted earnings per share at least $0.54 at CER. - Second half of 2026 expected to accelerate with roll-off of headwinds, new product launches, and improving QuantiFERON growth. - Adjusted operating income margin in 2026 expected to remain at about 29.5% offsetting headwinds.

Q: On new product launches, color on products and confidence in growth; Q: On QIAcuity and $250M target; Q: On QuantiFERON assumptions; Q: On CEO succession search; Q: On margin expansion; Q: On China exposure; Q: On QIAstat placements and menu; Q: On QuantiFERON Q1 guidance and pricing; Q: On end markets and 1Q outlook; Q: On Sample tech target and new automation; Q: On QIAstat U.S. respiratory season and panel usage; Q: On midterm guidance and margin target; Q: On QuantiFERON pricing and market environment; Q: On market environment and shareholder value; Q: On guidance math and disclosure requirements