Q4 2025 Earnings Press Release — Hologic (HOLX) — Tellvest

HOLX2025-11-03

Q4 2025 Earnings Press Release

Hologic

Not a standard earnings call · Press release only

Hologic did not hold a Q4 FY2025 earnings call following the announcement of the Blackstone/TPG acquisition on October 21, 2025. Results were communicated via press release only. There is no analyst Q&A for this quarter.

Hologic Announces Financial Results for Fourth Quarter of Fiscal 2025

Revenue of $1,049.5 Million Grows 6.2%

GAAP Diluted EPS of $0.83 Increases 9.2%, Non-GAAP Diluted EPS of $1.13 Up 11.9%

MARLBOROUGH, Mass. (November 3, 2025) - Hologic, Inc. (Nasdaq: HOLX) announced today the Company's financial results for the fiscal fourth quarter ended September 27, 2025. The Company reported revenue of $1,049.5 million, GAAP diluted EPS of $0.83, and non-GAAP diluted EPS of $1.13.

Highlights

On October 21, 2025, the Company announced it had entered into a definitive agreement to be acquired by funds managed by Blackstone and TPG in a transaction valued at up to $79 per share (the "Proposed Transaction").

Revenue of $1,049.5 million increased 6.2% for the quarter, or 5.4% in constant currency.

Total organic revenue excluding COVID-19 and related revenue, the divested blood screening and SSI businesses, the acquired Gynesonics business, and the acquired Endomagnetics business for July increased 6.2%, or 5.4% on a constant currency basis.

GAAP diluted EPS of $0.83 for the quarter increased 9.2%. Non-GAAP EPS of $1.13 increased 11.9%.

Diagnostics revenue of $454.1 million increased 2.4%, or 1.5% in constant currency, driven primarily by higher core U.S. molecular diagnostics sales, partially offset by lower sales of COVID-19 assays and lower sales in China.

Excluding COVID-19 and related revenue, organic diagnostics sales grew 5.4%, or 4.4% on a constant currency basis.

Molecular diagnostics revenue increased 1.2%, or 0.4% in constant currency, driven primarily by higher sales of the Company's BV CV/TV and Panther Fusion assays.

Excluding COVID-19 and related revenue, molecular diagnostics revenue grew 5.3%, or 4.5% on a constant currency basis.

Breast Health revenue of $393.7 million increased 4.8%, or 4.2% in constant currency, driven primarily by strong sales of interventional products, the inclusion of Endomagnetics, and continued improvement in U.S. sales execution.

Organic breast health revenue, which excludes sales from the divested SSI business as well as July sales from the acquired Endomagnetics business, increased 3.3%, or 2.7% in constant currency.

Surgical revenue of $172.5 million grew 10.2%, or 9.5% in constant currency, driven primarily by increased sales of MyoSure and Fluent, and the acquired Gynesonics business.

Organic surgical revenue, which excludes sales from Gynesonics, increased 5.3%, or 4.5% in constant currency.

Cash flow from operations was $355.1 million in the fourth quarter.

The Company received FDA clearance and CE marking for its Panther Fusion Gastrointestinal Bacterial and Expanded Bacterial Assays.

Revenue Detail

Diagnostics

Cytology and perinatal

$123.1 million, increased 5.7%

Molecular diagnostics

$323.1 million, increased 1.2%

Blood screening

$7.9 million, increased 5.3%

Total diagnostics

$454.1 million, increased 2.4%

Organic diagnostics ex. COVID19: $417.1 million, increased 5.4%

Organic molecular ex. COVID19: $294.0 million, increased 5.3%

Breast Health

Breast imaging

$291.5 million, decreased (0.6%)

Interventional breast solutions

$102.2 million, increased 24.5%

Total breast health

$393.7 million, increased 4.8%

Organic breast health

$387.5 million, increased 3.3%

Organic interventional

$96.1 million, increased 17.1%

GYN surgical

$172.5 million, grew 10.2%

Organic surgical

$164.8 million, increased 5.3%

Skeletal health

$29.2 million, increased 129.9%

Total

$1,049.5 million, increased 6.2%

Organic revenue

$1,027.7 million, increased 4.9%

Organic revenue excluding COVID19: $998.6 million, increased 6.2%

Other Financial Highlights

U.S. revenue of $784.4 million increased 5.2%. International revenue of $265.1 million increased 9.4%, or 6.0% in constant currency.

GAAP gross margin of 55.6% decreased (90) basis points, primarily due to expenses associated with closing the Manchester, England manufacturing facility, which manufactures certain molecular diagnostics products. Non-GAAP gross margin of 60.9% decreased (60) basis points, primarily due to product mix and increased tariff expenses.

GAAP operating margin of 22.6% decreased (70) basis points, primarily due to the inclusion of Gynesonics, increased transaction expenses, and impairment and restructuring charges. Non-GAAP operating margin of 31.2% increased 120 basis points, primarily due to increased leverage on operating expenses from revenue growth.

GAAP net income of $187.3 million increased 4.9%, while non-GAAP net income of $254.7 million increased 7.2%. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $347.0 million, an increase of 7.2%.

COVID-19 revenue, which consisted of COVID-19 assay revenue of $5.9 million and other COVID-19 related revenue of $23.2 million, decreased (27.3%), or (28.0%) in constant currency.

The Company ended the quarter with cash and cash equivalents of $1.96 billion and an adjusted net leverage ratio (net debt over adjusted EBITDA) of 0.4 times. In addition, the Company had short-term investments of $243 million.

Adjusted Return on Invested Capital (ROIC) was 13.9%, a decrease of (20) basis points compared to the prior year period.

Given Hologic's agreement to be acquired by Blackstone and TPG, the Company is not providing annual or quarterly financial guidance for fiscal year 2026, and will not host a conference call to discuss its fourth quarter 2025 financial results.

Condensed Consolidated Statements of Income (Q4)

Total revenues

$1,049.5 million vs $987.9 million prior year

Product revenues

$835.1 million vs $787.8 million

Service and other revenues

$214.4 million vs $200.1 million

Cost of revenuesProduct: $329.8 million vs $292.3 million

Cost of revenuesAmortization of acquired intangible assets: $41.2 million vs $45.5 million

Cost of revenuesService and other: $95.0 million vs $92.4 million

Gross profit

$583.5 million vs $557.7 million

Operating expenses

Research and development

$65.1 million vs $67.3 million

Selling and marketing

$147.8 million vs $146.0 million

General and administrative

$114.8 million vs $103.2 million

Amortization of acquired intangible assets

$2.8 million vs $4.9 million

Impairment of intangible assets

$5.0 million vs $0

Restructuring charges

$11.0 million vs $6.2 million

Total operating expenses

$346.5 million vs $327.6 million

Income from operations

$237.0 million vs $230.1 million

Interest income

$19.0 million vs $28.4 million

Interest expense

($28.6) million vs ($32.0) million

Other income (expense), net: $0 vs ($4.9) million

Income before income taxes

$227.4 million vs $221.6 million

Provision for income taxes

$40.1 million vs $43.0 million

Net income

$187.3 million vs $178.6 million

Diluted EPS

$0.83 vs $0.76

Diluted shares

225,730 thousand vs 235,971 thousand

Full Year FY2025 Summary

Total revenues

$4,100.5 million vs $4,030.3 million prior year

Gross profit

$2,117.9 million vs $2,227.8 million

Income from operations

$714.3 million vs $882.6 million

Net income

$565.7 million vs $789.5 million

Diluted EPS

$2.49 vs $3.32

NonGAAP Reconciliation

Q4 GAAP gross profit: $583.5 million

Add back

Amortization of acquired intangible assets: $41.2 million

Add back

Manufacturing facility closure: $14.4 million

NonGAAP gross profit: $639.1 million

NonGAAP gross margin: 60.9%

Q4 GAAP income from operations: $237.0 million

NonGAAP income from operations: $327.2 million

NonGAAP operating margin: 31.2%

Q4 GAAP net income: $187.3 million

NonGAAP net income: $254.7 million

NonGAAP diluted EPS: $1.13 vs $1.01 prior year

Adjusted EBITDA

$347.0 million vs $323.7 million prior year

Full Year NonGAAP:

NonGAAP income from operations: $1,237.6 million vs $1,210.2 million

NonGAAP net income: $970.3 million vs $968.7 million

NonGAAP diluted EPS: $4.26 vs $4.08

Balance Sheet (September 27, 2025)

Cash and cash equivalents

$1,959.5 million

Shortterm investments: $243.2 million

Accounts receivable, net: $600.8 million

Inventory

$679.4 million

Total current assets

$3,668.1 million

Goodwill and intangible assets

$4,229.7 million

Total assets

$9,014.9 million

Longterm debt, net: $2,505.0 million

Total stockholders' equity

$5,047.9 million

Cash Flow (Full Year FY2025)

Net cash provided by operating activities

$1,057.1 million vs $1,285.2 million

Capital expenditures

($58.8) million

Acquisition of businesses

($321.5) million

Repurchases of common stock

($752.9) million

Net Leverage Ratio

0.4 times

Adjusted ROIC

13.9%

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