Qiagen N.v. · NYSE:QGEN
Qiagen — Q3 2024 Earnings Presentation
24 slides from Qiagen's earnings presentation, Nov 7, 2024
Slide 1: Q3 2024 results
Q3 2024 results Exceeded outlook for net sales and adjusted EPS November 6, 2024
Slide 2: Forward looking and intended use statements
Forward looking and intended use statements Safe Harbor Statement: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1
Slide 3: Q3 2024: Exceeded outlook for net sales and adjusted EPS
Q3 2024: Exceeded outlook for net sales and adjusted EPS Growth $502 m ($502 m CER) Q3 2024: Solid sales growth trends across portfolio Net sales • +6% CER growth and +6% CER excluding NeuMoDx +6% CER • Diagnostic solutions (+10% CER), Sample technologies (+1% CER) vs. Q3 2023 and PCR / Nucleic acid
Slide 4: Q3 2024: Sales performance and key developments
Q3 2024: Sales performance and key developments Sales by product group Key developments (In $ millions at actual rates) +6% Sample • Solid sales growth from automated consumables CER(1) technologies • Encouraging instrument placement rates 476 502 • +10% CER growth, sixth consecutive quarter above $
Slide 5: Q3 2024: Strong quarter for operating profitability
Q3 2024: Strong quarter for operating profitability Adj. operating income margin Adj. EPS ahead of Q3 2024 outlook Adj. +18% to $149 million on efficiency operating gains and NeuMoDx benefits +3 ppt 29.6% income 26.6% Non- 20% adj. tax rate above estimate operating for ~19% income $0.57 Adj. EPS(1)
Slide 6: Q3 2024: Significant improvement in cash flow generation
Q3 2024: Significant improvement in cash flow generation Cash flow Debt maturity overview(1) (in $ millions) In $ millions Q3 2024 Q3 2023 Change Operating cash flow 182 125 +46% 619 Purchases of PP&E - 43 -36 +22% 500 119 500 Free cash flow 139 89 +56% Likely repayment in 2025(2) 500 157 In $ milli
Slide 7: Q3 2024: Portfolio developments
Q3 2024: Portfolio developments Sample technologies: QIAcuityDx: HID / Forensics: Advancing liquid biopsy with innovation Harnessing the power of digital PCR Tracing roots, preserving identities Novel urine liquid biopsy solution Moving into clinical diagnostics Partnerships driving NGS adoption in
Slide 8: QIAstat-Dx: Four U.S. clearances in 2024 to accelerate growth
QIAstat-Dx: Four U.S. clearances in 2024 to accelerate growth Complete Panels Mini Panels Precision Medicine 3 Respiratory IVDR 2024 NEW(1) Respiratory(2) 2024 NEW Pharma partnerships Gastro IVDR 2024 NEW Gastro(3) 2024 Chronic diseases NEW Meningitis 2024 NEW Alzheimer's disease Instruments Blood c
Slide 9: 2024: Outlook perspectives
2024: Outlook perspectives Reaffirming net sales outlook Increasing adj. EPS outlook + ~$0.09 Full-year 2024 + ~$0.06 outlook update ≥$1.985 bn ≥$2.19 CER + ~$0.04 CER $1.965 bn $25 m ≥$2.16 Reaffirming net sales ≥$2.14 CER ≥$2.10 CER $42 m ≥$2.07 CER ≥$1.985 bn CER Increasing adj. diluted EPS ≥$2.1
Slide 10: 2024: Updating full-year outlook
2024: Updating full-year outlook As of November 6, 2024 Q4 2024 outlook FY 2024 outlook Net sales >$520 million CER >$1.985 billion CER Anticipated currency impact No currency impact Adverse impact of ~ -1 ppt Adjusted diluted EPS >$0.60 CER >$2.19 CER Anticipated currency impact No currency impact
Slide 11: Appendix
QIAGEN Appendix
Slide 12: Q4 and FY 2024: Outlook and assumptions
Q4 and FY 2024: Outlook and assumptions (As of November 6, 2024) Q4 2024 outlook FY 2024 outlook Net sales >$520 million CER >$1.985 billion CER Anticipated currency impact(1) No currency impact Adverse impact of ~ -1 ppt Adjusted diluted EPS(2) >$0.60 CER >$2.19 CER Anticipated currency impact(1) N
Slide 13: Q3 2024: Consolidated Statements of Income (unaudited)
Q3 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Three months ended Three months ended September 30, 2024 September 30, 2023 Net sales 501,869 475,894 Cost of sales: Cost of sales 179,817 161,864 Acquisition-related intangible amortization 13,745 16,070 Tota
Slide 14: 9M 2024: Consolidated Statements of Income (unaudited)
9M 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Nine months ended Nine months ended September 30, 2024 September 30, 2023 Net sales 1,457,012 1,456,149 Cost of sales: Cost of sales 777,922 490,407 Acquisition-related intangible amortization 45,030 48,154 To
Slide 15: 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% 164 -1% 1% 162 1% 1% 480 -4% -3% Diagnostic soluti
Slide 16: 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% 442 2% 3%
Slide 17: Q3 and 9M 2024: Reconciliation to adjusted results (unaudited)
Q3 and 9M 2024: Reconciliation to adjusted results (unaudited) Operating Pre-tax Net Net Gross Income Tax Diluted (In $ millions, except EPS) income income income sales profit tax rate EPS* (loss) (loss) (loss) Third quarter 2024 Reported results 501.9 308.3 112.1 116.5 (18.4) 16% 98.1 0.44 Adjustme
Slide 18: Q3 and 9M 2024: Footnotes for reconciliation to adjusted results
Q3 and 9M 2024: Footnotes for reconciliation to adjusted results (unaudited) a. Results for 2024 include charges for the restructuring program initiated in Q2 2024, as well as acquisition projects, including the continued integration activities at Verogen Inc. b. Cash Convertible Notes were recorded
Slide 19: 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 458.8 496.3 501.9 1,457.0 Net sales (CER) 461.7 502.0 502.2 1,465.9 Gross profit 291.0 34.8 308.3 634.1 Gross profit margin 63.4% 7.0% 61.4% 43.5%
Slide 20: Consolidated Balance Sheets
Consolidated Balance Sheets September 30, December 31, September 30, 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 972,985 668,084 Current portion of long-term deb
Slide 21: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Nine months ended September 30, September 30, Nine months ended September 30, September 30, (In $ thousands) 2024 2023 (In $ thousands) 2024 2023 Cash flows from operating activities: Cash flows from financing activities: Net (loss) income (4,731) 24
Slide 22: Q3 and 9M 2024: Currency impact
Q3 and 9M 2024: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q3 2024 U.S. dollar 278.4 278.5 56% 0.1 Euro 93.3 92.4 18% -0.9 British pound 21.1 20.7 4% -0.4 Japanese yen 10.4 10.6 2% 0.2 Other currencies 98.6 99.9 20%
Slide 23: Employees as of September 30, 2024
Employees as of September 30, 2024 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q3 2024 Q2 2024 Change Production 379 1,168 137 1,684 1,701 -1 % R&D 213 769 57 1,039 1,053 -1 % Sales 565 845 739 2,149 2,162 -1 % Marketing 66 194 67 327 332 -2 % Administration 80 419
Slide 24: Your contacts
Your contacts Dr. Domenica Martorana Associate Director Calendar Global Investor Relations Deep Dive: QDI December 2024 Phone: +49 2103 29 11244 E-mail: domenica.martorana@qiagen.com Q4 and FY 2024 results February 2025 Q1 2025 results May 2025 Alexandra Koenig Coordinator Share information Investor