Qiagen N.v. · NYSE:QGEN
Qiagen — Q1 2024 Earnings Presentation
37 slides from Qiagen's earnings presentation, May 2024
Slide 1: Making improvements in life possible
Making improvements in life possible Investor introduction May 2024
Slide 2: Forward looking statements
Forward looking statements Safe Harbor Statement: This presentation contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be, deemed to be forward looking statements within the meaning of Section 27A of the U.S. Securities Act of
Slide 3: Our Vision and Mission
Our Vision Making improvements in life possible Our Mission Enabling access to valuable insights from molecular research to clinical healthcare Bichat-Claude Bernard Hospital, Paris Investor Introduction
Slide 4: QIAGEN at a glance
QIAGEN at a glance A global company with scale ~52% Americas $1.97 billion 2023 sales Sales (2023) ~32% EMEA ~16% Asia-Pacific / Japan Highly recurring revenues Balanced customer markets ~6,000 employees known as QIAGENers ~ 88% 12% ~ ~ 50% 50% ~ Consumables and related revenues Instruments Molecula
Slide 5: QIAGEN solutions are used across the world by researchers
QIAGEN solutions are used across the world by researchers - from young scientists to Nobel laureates - and clinical testing labs Investor Introduction
Slide 6: QIAGEN products are known for the highest quality
QIAGEN products are known for the highest quality Investing ~9-10% of sales in R&D and best-in-class manufacturing Investor Introduction
Slide 7: In the right place at the right time
In the right place at the right time Leveraging the continuum of research to clinical healthcare to maximize opportunities Life Sciences Molecular Diagnostics Academia Pharma Applied testing Infectious disease Immune response Oncology Addressable market ~$5 billion (1) ~$6 billion(1) • Continuous wa
Slide 8: Providing Sample to Insight solutions to uncover molecular insights
Providing Sample to Insight solutions to uncover molecular insights Sample technologies Assay technologies Discovery research Advancing understanding of life Pharma Faster and better drug R&D Clinical diagnostics Sample to Insight solutions Accurate disease diagnosis Automation systems Bioinformatic
Slide 9: Leveraging leadership from the first step in any laboratory
Leveraging leadership from the first step in any laboratory Sample preparation Detection (DNA / RNA extraction) (Technologies to unlock insights) Top 3 Differentiated solutions for modular and integrated workflows PCR No. 1 No. 1 Sample No. 2 technologies Unmatched time to result, Digital scalabilit
Slide 10: Life Sciences: Working to enable scientific advancements
Life Sciences: Working to enable scientific advancements QIAGEN value Academic research 2023 sales ~$930 million Pharma development Recognized innovator supporting scientific breakthroughs Able to translate innovations Applied testing into commercial products ~$5 billion addressable market Selected
Slide 11: Molecular Diagnostics: Helping to improve outcomes in healthcare
Molecular Diagnostics: Helping to improve outcomes in healthcare QIAGEN value Immune response 2023 sales ~$1 billion Infectious diseases Addressing testing areas with high or growing demand Strong automation portfolio Oncology with multi-year assay menu expansion underway ~$6 billion addressable mar
Slide 12: Focusing on attractive opportunities
Focusing on attractive opportunities Expanding on solid leadership Early commercialization phases with strong growth potential Sample QuantiFERON QIAstat-Dx NeuMoDx QIAcuity technologies Leading immune Syndromic testing with Differentiated microfluidic Novel microplate digital Comprehensive portfoli
Slide 13: Sample technologies: Leveraging our leading brand and expertise
Sample technologies: Leveraging our leading brand and expertise Installed base of >28,000 instruments(1) QIAGEN differentiation Industry leader known for highest quality QIAcube family EZ1 / EZ2 QIAsymphony Upgrade in development Stool Tissue Saliva Cells Bone Blood >300 consumable kits Plants Serum
Slide 14: QuantiFERON: Leading the way in modern latent TB testing
QuantiFERON: Leading the way in modern latent TB testing Converting traditional skin testing to modern IGRA blood testing QuantiFERON differentiation QuantiFERON-TB Gold Leading portfolio for latent TB detection ~70-80% market share Modern fourth-generation test Latent TB testing IGRA • >100 million
Slide 15: QIAstat-Dx: Capturing solid market share in syndromic testing
QIAstat-Dx: Capturing solid market share in syndromic testing Focus on menu expansion to accelerate solid placement rate QIAstat-Dx (Low to mid-throughput) QIAstat-Dx differentiation QIAstat-Dx test menu CE-IVD FDA Gastrointestinal Unrivaled ease-of-use Respiratory SARS CoV-2 Respiratory 4plex Menin
Slide 16: QIAcuity: Answering growing market demand with unique technology
QIAcuity: Answering growing market demand with unique technology Digital PCR market opportunity: Rapidly expanding application range QIAcuity differentiation qPCR / RT-PCR QIAcuity digital PCR NGS Proven nanoplate technology Fast and cost-effective Delivers in-depth data Conversion from qPCR, NGS Sc
Slide 17: Core portfolios: Investing to accelerate QIAGEN Digital Insights
Core portfolios: Investing to accelerate QIAGEN Digital Insights Offering best-in-class insights for research and clinical customers Research Clinicians Data QIAGEN differentiation scientists scientists Nr. 1 portfolio of trusted platform- agnostic bioinformatics solutions Analysis and Interpretatio
Slide 18: We employ ~6,000 passionate QIAGENers
We employ ~6,000 passionate QIAGENers around the world from diverse backgrounds and locations Investor Introduction
Slide 19: Strong global presence in developed and emerging markets
Strong global presence in developed and emerging markets Our global Direct sales in >30 and regional headquarters: Venlo Netherlands Germantown Global HQ countries Maryland Americas HQ Hilden Germany EMEA HQ Shanghai China HQ Shipping product to Singapore Asia-Pacific HQ >170 countries Investor Intr
Slide 20: 2024: Reaffirming full-year outlook
2024: Reaffirming full-year outlook Q2 2024 outlook FY 2024 outlook (As of April 29, 2024) Net sales >$495 million CER >$2.0 billion CER Anticipated currency impact Neutral FX impact Neutral FX impact Adjusted diluted EPS >$0.52 CER >$2.10 CER Anticipated currency impact Adverse impact of ~ -$0.01 A
Slide 21: Maintaining financial flexibility with appropriate leverage
Maintaining financial flexibility with appropriate leverage Structure as of December 31, 2023 Maturities of debt instruments (In $ millions) $1.53 billion $1.06 billion Convertible Bonds Schuldschein Convertible Cash and 117 Bonds short-term 2024 investments 2027 605 617 105 117 $472 million 500 500
Slide 22: Leveraging strong balance sheet and cash flows to enhance growth
Leveraging strong balance sheet and cash flows to enhance growth Invest in internal growth Strengthening our portfolio ~$300 million return in 2024 • Capital return through synthetic Enhance value with M&A share repurchase Ongoing disciplined approach • Designed to deliver efficient return of Discip
Slide 23: Why invest: Well-diversified business spanning attractive markets
Why invest: Well-diversified business spanning attractive markets Diversified Broad Highly customer base geographic reach recurring revenues Well-balanced leadership in ~6,000 QIAGENers ensuring Growing installed base Life Sciences and access to attractive markets with generating demand for Molecula
Slide 24: Supervisory Board and Executive Committee
Supervisory Board and Executive Committee Supervisory Board Executive Committee Chair Chief Executive Officer Chief Financial Officer Lawrence A. Rosen Metin Colpan Thierry Bernard Roland Sackers Joined 2013 Co-founder of QIAGEN Joined 2015 Joined 1999 Molecular Diagnostics Life Sciences Toralf Haag
Slide 25: Appendix
; Appendix esses
Slide 26: Q2 and FY 2024: Outlook and assumptions
Q2 and FY 2024: Outlook and assumptions (As of April 26, 2024) Q2 2024 outlook FY 2024 outlook Net sales >$495 million CER >$2 billion CER Anticipated currency impact(1) Neutral FX impact Neutral FX impact Adjusted diluted EPS(2) >$0.52 CER >$2.10 CER Anticipated currency impact(1) Adverse impact of
Slide 27: 2024: Key assumptions
2024: Key assumptions As of February 6, 2024 2024 outlook Business integration, acquisition-related and restructuring items ~$13 million Capital expenditures (PP&E) ~7% of sales Capital expenditures (Intangibles, excluding acquired intellectual property) ~1% of sales Depreciation and amortization (E
Slide 28: Q1 2024: Consolidated Statements of Income
Q1 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Three months ended Three months ended March 31, 2024 March 31, 2023 Net sales 458,796 485,398 Cost of sales: Cost of sales 151,734 161,906 Acquisition-related intangible amortization 16,073 16,016 Total cost o
Slide 29: 2024: Quarterly sales by product group
2024: Quarterly sales by product group Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 (In $ millions at actual rates / change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 155 -11% -10% Diagnostic solutions(1) 170 5% 5% Of which QuantiF
Slide 30: 2024: Quarterly sales by product type, customer class and region
2024: Quarterly sales by product type, customer class and region Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 (In $ millions at actual rates / change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Product type Consumables and related 409 -5% -4% revenues
Slide 31: Q1 2024: Reconciliation to adjusted results
Q1 2024: Reconciliation to adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pre-tax Income Tax Net Diluted sales profit income income tax rate income EPS* First quarter 2024 Reported results 458.8 291.0 94.9 102.3 (21.6) 21 % 80.7 0.36 Adjustments Business integration, ac
Slide 32: Q1 2024: Footnotes for reconciliation to adjusted results
Q1 2024: Footnotes for reconciliation to adjusted results (unaudited) a. Results for 2024 include costs for acquisition projects, including continued integration activities at Verogen Inc. Results for 2023 include acquisition projects including continued integration activities at BLIRT S.A. and the
Slide 33: 2024: Quarterly income statement summary
2024: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Net sales 458.8 Net sales (CER) 461.7 Gross profit 291.0 Gross profit margin 63.4% Adjusted gross profit 307.8 Adjusted gross profit margin 67.1% Operating
Slide 34: Consolidated Balance Sheets
Consolidated Balance Sheets March 31, December 31, March 31, December 31, (In $ thousands, except par value) 2024 2023 (In $ thousands, except par value) 2024 2023 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 513,670 668,084 Current portion of long-term debt 590,52
Slide 35: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (unaudited) Three months ended March 31, March 31, Three months ended March 31, March 31, (In $ thousands) 2024 2023 (In $ thousands) 2024 2023 Cash flows from operating activities: Cash flows from financing activities: Net income 80,673 85,035 Capital repayment
Slide 36: Q1 2024: Currency impact
Q1 2024: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q1 2024 U.S. dollar 249.2 249.2 54% 0.0 Euro 88.7 87.6 19% -1.1 British pound 18.8 18.0 4% -0.8 Japanese yen 12.1 13.6 3% 1.5 Other currencies 90.0 93.3 20% 3.4 To
Slide 37: Your contacts
Your contacts Dr. Domenica Martorana Associate Director Calendar Global Investor Relations Analyst and Investor Day Phone: +49 2103 29 11244 June 17, 2024 (New York) E-mail: domenica.martorana@qiagen.com Annual General Meeting June 21, 2024 Phoebe Loh Q2 2024 results July 2024 Senior Director Global