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Hologic
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Hologic Announces Financial Results for First Quarter of Fiscal 2026
Revenue of $1,047.8 Million Grows 2.5%
GAAP Diluted EPS of $0.79 Decreases (9.2%), Non-GAAP Diluted EPS of $1.04 Up 1.0%
MARLBOROUGH, Mass. (January 29, 2026) - Hologic, Inc. (Nasdaq: HOLX) announced today the Company's financial results for the fiscal first quarter ended December 27, 2025. The Company reported revenue of $1,047.8 million, GAAP diluted EPS of $0.79, and non-GAAP diluted EPS of $1.04.
Highlights
Revenue of $1,047.8 million increased 2.5% for the quarter, or 1.3% on a constant currency basis.
Total organic revenue excluding COVID-19 and related revenue, the divested blood screening and SSI businesses, and the acquired Gynesonics business increased 2.9%, or 1.6% in constant currency.
GAAP diluted EPS of $0.79 for the quarter decreased (9.2%), mainly due to favorable foreign exchange gains in the prior year period. Non-GAAP EPS of $1.04 increased 1.0%.
Diagnostics revenue of $464.4 million decreased (1.3%), or (2.7%) in constant currency.
Excluding COVID-19 and related revenue, organic diagnostics sales grew 1.2%, but decreased (0.3%) on a constant currency basis.
Molecular diagnostics revenue decreased (3.5%), or (4.6%) in constant currency, driven primarily by lower sales of COVID-19 tests and legacy assays for sexually transmitted infections, partially offset by stronger sales of BV CV/TV and Panther Fusion assays.
Excluding COVID-19 and related revenue, molecular diagnostics revenue grew 1.2%, or 0.0% in constant currency.
Breast Health revenue of $375.9 million increased 1.8%, or 0.8% in constant currency, driven primarily by strong sales of Endomagnetics products.
Surgical revenue of $180.8 million grew 8.7%, or 7.5% in constant currency, driven primarily by increased sales of the acquired Gynesonics business, MyoSure and Fluent.
Organic surgical revenue, which excludes sales from Gynesonics, increased 3.2%, or 2.0% in constant currency.
Cash flow from operations was $229.9 million in the first quarter, and increased 21.4%.
Revenue Detail
$126.8 million, increased 1.1%
$329.2 million, decreased (3.5%)
$8.4 million, increased 104.9%
$464.4 million, decreased (1.3%)
$280.0 million, decreased (0.6%)
$95.9 million, increased 9.6%
$375.9 million, increased 1.8%
$375.8 million, increased 1.9%
$180.8 million, grew 8.7%
$171.7 million, increased 3.2%
$26.7 million, increased 69.0%
$1,047.8 million, increased 2.5%
$1,030.2 million, increased 1.3%
Other Financial Highlights
U.S. revenue of $773.5 million increased 2.0%. International revenue of $274.3 million increased 4.0%, but decreased (1.0%) on a constant currency basis.
GAAP gross margin of 56.0% decreased (80) basis points and non-GAAP margin of 60.1% decreased (150) basis points, primarily due to increased tariff expenses of $15.3 million.
GAAP operating margin of 22.6% increased 10 basis points but non-GAAP operating margin of 29.0% decreased (40) basis points, primarily due to higher tariff expenses that were partially offset by lower operating expenses.
GAAP net income of $179.1 million decreased (10.9%), while non-GAAP net income of $235.5 million decreased (1.3%). Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $330.4 million, an increase of 1.3%.
COVID-19 revenue, which consisted of COVID-19 assay revenue of $4.4 million and other COVID-19 related revenue of $23.6 million, decreased (35.8%), or (36.3%) in constant currency.
The Company ended the quarter with cash and cash equivalents of $2.17 billion, and an adjusted net leverage ratio (net debt over adjusted EBITDA) of 0.3 times. In addition, the Company had short-term investments of $197 million.
Adjusted Return on Invested Capital (ROIC) was 13.9%, a decrease of (20) basis points compared to the prior year period.
As previously announced, given Hologic's agreement to be acquired by Blackstone and TPG, the Company is not providing annual or quarterly financial guidance for fiscal 2026, and will not host a conference call to discuss its first quarter 2026 financial results.
Condensed Consolidated Statements of Income (Q1)
$1,047.8 million vs $1,021.8 million prior year
$831.4 million vs $817.9 million
$216.4 million vs $203.9 million
$586.4 million vs $580.5 million
$60.5 million vs $60.3 million
$154.9 million vs $166.1 million
$127.8 million vs $115.7 million
$2.3 million vs $4.7 million
$3.9 million vs $3.9 million
$349.4 million vs $350.7 million
$237.0 million vs $229.8 million
$19.7 million vs $24.2 million
($27.6) million vs ($30.5) million
$0.6 million vs $24.0 million
$229.7 million vs $247.5 million
$50.6 million vs $46.5 million
$179.1 million vs $201.0 million
$0.79 vs $0.87
225,879 thousand vs 232,107 thousand
Q1 GAAP gross profit: $586.4 million
Amortization of acquired intangible assets: $41.0 million
Manufacturing facility closure costs: $1.3 million
Integration/consolidation costs: $1.5 million
Q1 GAAP income from operations: $237.0 million
Q1 GAAP net income: $179.1 million
$330.4 million vs $326.0 million prior year
Prior year Q1 included unrealized gain on forward foreign currency contracts of $22.0 million excluded from non-GAAP results.
Balance Sheet (December 27, 2025)
$2,168.0 million
Accounts receivable, net: $584.2 million
$688.5 million
$3,843.4 million
$4,192.5 million
$9,180.7 million
$5,245.1 million
Cash Flow (Q1)
$229.9 million vs $189.3 million prior year
($14.7) million
($24.0) million
$0 vs ($517.3) million prior year
0.3 times
13.9%