Neogen Corporation · NASDAQ:NEOG
Neogen — Q1 2026 Earnings Presentation
15 slides from Neogen's earnings presentation, Oct 9, 2025
Slide 1: Fiscal Year 2026 First-Quarter Results
Fiscal Year 2026 First-Quarter Results October 9, 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Neogen’s curr
Slide 3: Initial Observations Create Clear Path Forward
Initial Observations Create Clear Path Forward Market Leadership Loyal Network Strategic Clarity Future Leverage Process Potential A leading company in a A dedicated team and a Strong strategic vision in Significant potential to Execution challenges can promising market, loyal customer base place; a
Slide 4: Near-Term Priorities Aligned with Targeted Improvement Plan
Near-Term Priorities Aligned with Targeted Improvement Plan OPERATIONAL REINVIGORATE TOP LINE GROWTH EXCELLENCE INNOVATION • Empower commercial teams for • Right-size the organization for • Build R&D pipeline in core Food effective sales execution efficiency and agility Safety & Animal Safety • Focu
Slide 5: Q1 FY26 Summary
Q1 FY26 Summary • First-quarter performance in line with our expectations • End markets showing signs of sequential improvement from Q4 FY25 ‒ Food production volumes showing sequential improvement from Q4 FY25 ‒ Animal Safety return to growth with positive contribution from Genomics for first time
Slide 6: Financial Highlights
Financial Highlights Adjusted Net Income(3) Revenue ($M) Adjusted EBITDA ($M) (2) ($M, excl. per share) $217.0 $43.7 $209.2 $35.5 $14.4 $9.4 $0.07 20.1% Adjusted $0.04 Margin 17.0% (3) EPS Adjusted Margin (3) EPS Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 • Core revenue growth(1) of (1.7)% in F
Slide 7: Balance Sheet & Capital Allocation
Balance Sheet & Capital Allocation Debt Profile Gross Debt • Q1 Free Cash Flow(2) improved by $43M compared to prior year $800M – Driven primarily by efficiency in trade working capital, which Less: Cash & Equivalents $139M was a $30M source of cash – Q1 expected to be highest capex quarter of the y
Slide 8: Targeted Improvement Plan
Targeted Improvement Plan Priority Improvement Actions Growth Acceleration and Margin Expansion • Accelerate Food Safety growth to consistently above-market rates (MSD+ long-term market growth rate) ‒ Drive share gains in North America – return to growth rates of MSD or above ‒ Continued internation
Slide 9: FY26 Outlook
FY26 Outlook • Reaffirming full-year outlook • Revenue: $820 – $840 million – Reflects continuation of soft macro environment, improvement from H2 FY25 sample collection run rate, slower China • Adjusted EBITDA: $165 – $175 million – Anticipating improvement from H2 FY25 operational challenges with
Slide 10: Summary
Summary • First quarter generally in line with expectations – guidance reaffirmed • Acting with urgency across the organization to drive improved execution • Focusing on simplification and core process improvement to address recent margin headwinds • Empowering commercial teams, targeted investments
Slide 11: Thank you for joining us.
To view the earnings press release and Thank you for presentation, visit: WWW.NEOGEN.COM/INVESTOR-RELATIONS joining us. © 2025 Neogen Corporation. All rights reserved. | 11
Slide 12: Appendix
Appendix
Slide 13: Non-GAAP Reconciliations: Adjusted EBITDA
Non-GAAP Reconciliations Adjusted EBITDA © 2025 Neogen Corporation. All rights reserved. | 13
Slide 14: Non-GAAP Reconciliations: Adjusted Net Income
Non-GAAP Reconciliations Adjusted Net Income © 2025 Neogen Corporation. All rights reserved. | 14
Slide 15: Non-GAAP Reconciliations: Core Revenue Growth and Free Cash Flow
Non-GAAP Reconciliations Core Revenue Growth and Free Cash Flow © 2025 Neogen Corporation. All rights reserved. | 15