Qiagen N.v. · NYSE:QGEN
Qiagen — TD Cowen Healthcare Conference 2025
56 slides from Qiagen's conference presentation, Feb 5, 2025
Slide 1: Committed to solid profitable growth
Committed to solid profitable growth Investor Introduction Q1 2025
Slide 2: Forward looking and intended use statements
Forward looking and intended use statements Safe Harbor Statement: Certain statements in this press release may constitute 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 1934, as amen
Slide 3: The value of biology has never been stronger
The value of biology has never been stronger Crucial to Improving Direct impact advancing healthcare on your science for all lives Investor Introduction 3
Slide 4: QIAGEN solutions are used across the world
QIAGEN solutions are used across the world by researchers - from young scientists to Nobel laureates - and clinical testing labs Investor Introduction 4
Slide 5: QIAGEN more focused and stronger than ever
QIAGEN more focused and stronger than ever Growth and value ~4-6% CAGR ~$13-14 bn ~$11 bn addressable Life Molecular addressable market QIAGEN market (2028) Sciences Diagnostics customers (2024) ~50% ~50% QIAGEN Sample technologies Balanced global presence product 2024 net sales (%) groups 52 33 15
Slide 6: Leading from the first step in lab workflows
Leading from the first step in lab workflows Samples Sample preparation Detection Insights PCR QIAcuity dPCR #2 Any Genomics / NGS Sample #1 biological technologies QIAGEN Digital Insights #1 sample Diagnostic solutions QuantiFERON #1 QIAstat-Dx #3 Life Sciences Customers Molecular Diagnostics Custo
Slide 7: Strategy: Committed to solid profitable growth
Strategy: Committed to solid profitable growth Our 2028 targets Sharpen focus on growth pillars to At least $2 bn sustain profitable growth net sales CER from pillars in 2028 ~7% At least 250 bps Net sales CER CAGR Drive efficiency and digitization to fuel (2024-28) growth investments and profitabil
Slide 8: Focusing on attractive opportunities
Focusing on attractive opportunities Product PCR / Nucleic acid Sample technologies Diagnostic solutions NGS / Genomics groups amplification 2024 sales $642 mn $749 mn $300 mn $234 mn Accelerate investments for growth Build on proven leadership QIAcuity #2 QIAstat-Dx #3 QIAGEN #1 Sample #1 QuantiFER
Slide 9: dPCR – Capturing share from qPCR and NGS markets
QIAcuity dPCR Quantitative PCR QIAcuity dPCR Next-generation (qPCR) Enabling novel applications sequencing (NGS) e.g., Cell and Gene Therapy e.g., liquid biopsy Lower sensitivity High sensitivity and precision In-depth insights and precision More accurate than qPCR and high precision dPCR – Capturin
Slide 10: Targeting research to clinical healthcare
Targeting research to clinical healthcare Key achievements Scalable systems Low- to high- throughput capabilities QIAcuity One QIAcuity Four QIAcuity Eight >2,700 cumulative placements since launch Academia Overcoming entry barrier vs. qPCR Translational and Ease of use Fully integrated cancer resea
Slide 11: Significant investments into QIAcuity dPCR
Significant investments into QIAcuity dPCR ≥$250 mn QIAcuity net sales CER target (2028) Target Extend Accelerate commercialization new applications into clinical use >3x increase Add >100 assays QIAcuity-Dx of sales specialists for market menu expansion for CGT and enabling MRD and monitoring penet
Slide 12: QIAstat-Dx
QIAstat-Dx Use case: 3-year-old with severe but unspecific GI symptoms Traditional testing Syndromic testing Slow diagnosis and treatment Fast diagnosis enabling better decisions can lead to complexities treatment decisions Identifying unknown diseases at speed and ease Day 1 Day 1 One test within o
Slide 13: QIAstat-Dx offers differentiated features
QIAstat-Dx offers differentiated features Key achievements Strong product capabilities Key differentiators Specification QIAstat-Dx Competition Workflow Additional >4,600 cumulative placements efficiency pathogens since launch Hands-on time ~1 min >5 min and safety on panels for for broader robust r
Slide 14: Expanding global presence and differentiated menu
Expanding global presence and differentiated menu ≥$200 mn QIAstat-Dx net sales CER target (2028) Grow installed Small hospitals Medium hospitals Large hospital networks customer Public health labs Regional reference labs National reference labs base Submitted to FDA Low-throughput High-throughput c
Slide 15: QIAGEN Digital Insights
QIAGEN Digital QIAGEN unlocking the power of genomics Insights Development Genomic data In 2003, the first Today, any human human genome took genome can be read in 13 years 5 hours Sequencing Powerful analytics costs $100 / to understand >$1 bn / genome sequencing run 2000 2010 2020 2030 genomics Th
Slide 16: #1 leading from research to clinical customers
#1 leading from research to clinical customers Key achievements Addressing large customer base Delivering QDI software solutions for NGS workflow #1 Research – in bioinformatics software for research and clinical Scientific discovery Pharma / Biotech Academia Government research Sample prep Library
Slide 17: Case study: Research Advancing drug development
Case study: Research Advancing drug development Pharma challenge QDI pivotal to drug discovery Over 50,000 scientific publications cite our software Key to understanding disease pathways, targets and measure changes 24 of the Top 25 Pharma companies use QDI Significant number of failures without the
Slide 18: Case study: Clinical Enhancing patient outcomes
Case study: Clinical Enhancing patient outcomes Patient situation QDI-enhanced patient outcome Mutation identification and recommendation by QDI Profile Male (early 70s) Targeted therapy leading to life-saving disease remission Diagnosis QIAGEN Clinical Leukemia linked to rare gene mutation Insights
Slide 19: Focus on SaaS and AI to expand market leadership
Focus on SaaS and AI to expand market leadership 2028 goals Coming in 2025 Deepen global commercial reach and +40% 3 new AI product SaaS sales SaaS transition for sustainable growth specialists enhancements >14 10+ new DATA Invest in new AI technologies AI-enabled applications SCIENCE accounts >12 m
Slide 20: Investing to extend market leadership
Investing to extend market leadership ≥$200 mn QDI net sales CER target (2028) Extend leadership in curated Deepen global Invest in new AI and other knowledge commercial reach technologies Expand QIAGEN knowledge base into Adopt SaaS go-to-market Continue advancing software spatial, proteomics and m
Slide 21: Sample technologies
Sample technologies Laboratory workflow Differentiated solutions for PCR Valuable Biological Sample modular, integrated workflows molecular sample technologies insights Fast time to result, scalability Critical step in and ease of use dPCR High-quality molecular sample prep key to workflows Platform
Slide 22: Leader in the first step of lab workflows
Leader in the first step of lab workflows Key achievements Comprehensive Any >350 DNA / RNA consumables portfolio biological sample different sample kits target analytes >120 mn QIAGEN preparations e.g., tissue, cells, blood, for manual and sold per year including variations serum, wastewater automa
Slide 23: Focused strategy to drive mid-term growth
Focused strategy to drive mid-term growth Sample technologies ≥$750 mn Sample technologies net sales CER target Low-throughput Mid-throughput High-throughput (2028) QIAmini QIAsymphony QIAsprint Connect Connect NEW Launch 2026 Launch 2025 Launch 2026 Addition to QIAcube / EZ Flagship system upgrade,
Slide 24: QuantiFERON Tuberculosis: A highly contagious and lethal bacterial infection
QuantiFERON Tuberculosis: A highly contagious and lethal bacterial infection 1 in 4 Broad health risk Global relevance people have a latent TB bacterial infection High risk of ssion to active ogre TB pr 1 in 10 EMEA of these people will develop an Immunocompromised ~10 mn active TB bacterial infecti
Slide 25: Best-positioned latent tuberculosis test
Best-positioned latent tuberculosis test QuantiFERON Tuberculin Key achievements Advantages to Specification blood test skin test skin test Customizable automated workflow High accuracy and specificity $454 mn 2024 net sales (+89% vs. 2019) Only one patient visit Electronic results Quality-assured l
Slide 26: Driving skin test conversion with unrivaled automation
Driving skin test conversion with unrivaled automation ≥$600 mn QuantiFERON Leading automation advantage net sales CER target (2028) Automated Automated Increase liquid handling assay and result customer base Partnership with Diasorin to expand into Lyme disease Large potential in skin test conversi
Slide 27: Initiatives to fuel growth investments and achieve ≥31% margin
Initiatives to fuel growth investments and achieve ≥31% adjusted operating income margin in 2028 Operational excellence Digitization Positioning QIAGEN for stronger profitable growth Accelerating growth and efficiency across QIAGEN Organizational design Portfolio streamlining >6 million ~30 website
Slide 28: Executing our strategy with empowered QIAGENers
Executing our strategy with empowered QIAGENers Great Great Great Great Great Great Place Place Place Place Place Place >5,700 To Work Certified ® NOV 2023–NOV 2024 USA To Work ® Certificada DEC 2022–DEC 2023 MEXICO To Work Certificada ® OCT 2023–OCT 2024 BRASIL To Work Certified ® NOV 2021–NOV 2022
Slide 29: Embracing ESG for all stakeholders
Embracing ESG for all stakeholders Net zero Top ESG ratings Environmental responsibility carbon emission target (2050) Investing in people 37% female leadership (2024) Serving society >50 public health partnerships (2024) Business with integrity ~8,000 compliance trainings completed (2024) Investor
Slide 30: Leveraging strong balance sheet and cash flows to enhance growth
Leveraging strong balance sheet and cash flows to enhance growth Synthetic share Organic Profitable targeted investments repurchase investments Into growth pillars and digitization to fuel profitable business expansion Additional ~$300 mn repurchase completed in January 2025 Builds on return of ~$30
Slide 31: Reinvigorated leadership team dedicated to deliver
Reinvigorated leadership team dedicated to deliver Supervisory Board Executive Committee Lawrence A. Rosen Metin Colpan Chair Co-founder of QIAGEN Thierry Bernard Roland Sackers Joined in 2013 Chief Executive Officer Chief Financial Officer Joined EC in 2015 Joined EC in 2004 Toralf Haag Ross Levine
Slide 32: Q4 and FY 2024 results
Q4 and FY 2024 results Exceeding outlook for net sales and adjusted EPS February 5, 2025
Slide 33: Q4 and FY 2024: Exceeded outlook for net sales and adjusted EPS
Q4 and FY 2024: Exceeded outlook for net sales and adjusted EPS Growth Solid sales growth exceeding outlook FY: $1.978 bn ($1.991 bn CER) • Q4: +3% CER growth and +4% CER core growth(1) Net sales • Q4: Double-digit CER growth from QIAstat-Dx, QuantiFERON and QIAcuity Q4: $521 mn ($525 mn CER) • FY:
Slide 34: Q4 2024: Portfolio developments
Q4 2024: Portfolio developments Sample technologies: QIAcuity: QIAGEN Digital Insights: Advancing laboratory automation Transforming dPCR with multiplexing Enhancing data-driven solutions >1,000 cumulative EZ2 Connect placements Multiplexing of up to 12 targets Expanding AI-powered tools • Versatile
Slide 35: FY 2024: Sales performance and key developments
FY 2024: Sales performance and key developments Sales by product group Key achievements (In $ millions at actual rates) Sample • Launch of two microbiome and liquid biopsy sample kits +2% core technologies • ~29,900 cumulative instrument placements CER(1) 1,965 1,978 • New U.S. guidelines enable use
Slide 36: 2024: Strong year for operating profitability
2024: Strong year for operating profitability Adj. operating income margin Adj. EPS ahead of Q4 and FY 2024 outlook +2.6 ppt +1.8 ppt Adj. Q4: +12% to $159 million 30.6% FY: +7% to $567 million operating on efficiency gains and NeuMoDx 28.7% income benefits 28.0% 26.9% Non- Adj. net interest income:
Slide 37: FY 2024: Significant improvement in cash flow generation
FY 2024: Significant improvement in cash flow generation Cash flow(1) Debt maturity overview (2) (in $ millions) In $ millions Q4 2024 Q4 2023 Change Operating cash flow 192 151 +27% 610 Purchases of PP&E - 49 -52 -5% 110 500 Free cash flow 142 100 +43% Likely repayment in 2025(3) 500 145 In $ milli
Slide 38: Outlook: Q1 and FY 2025
Outlook: Q1 and FY 2025 As of February 5, 2025 Outlook Q1 2025 FY 2025 Net sales ~+3% CER / ~+4% CER / ~+4% CER core portfolio(1) ~+5% CER core portfolio(1) Anticipated currency impact Adverse impact of ~-2 ppt Adverse impact of ~-2 ppt Adjusted diluted EPS >$0.50 CER >$2.28 CER Anticipated currency
Slide 39: FY 2025: Adj. operating income margin and adj. EPS perspectives
FY 2025: Adj. operating income margin and adj. EPS perspectives Adjusted operating income margin Adjusted diluted EPS outlook ~+9% ≥150 bps >30% 28.7% ~+$0.19 ~$2.37 ~-$0.05 CER CER CER ~-$0.04 CER ≥$2.28 CER $2.18 CER FY 2024 FY 2025 2024 Operational 2025 Adj. Adj. tax rate 2025 adj. EPS business u
Slide 40: 2025: Leveraging a strong core portfolio to drive growth
2025: Leveraging a strong core portfolio to drive growth QIAcuity QIAstat-Dx QDI Sample tech QuantiFERON Expanding CGT and New panel submissions: Converting customers to Shift to growth, led by Convert remaining 60% pathogen research assays U.S. (2) and EU (1) SaaS from license deals automation cons
Slide 41: Leveraging a strong portfolio to drive growth
Leveraging a strong portfolio to drive growth QIAcuity QIAstat-Dx QDI Sample tech QuantiFERON Growth pillars total sales (CER) 2024 $80 mn $109 mn $100 mn $646 mn $455 mn $1.39 bn Achieved: 99.3% CER sales (Target: >$90 mn) (Target: >$100 mn) (Target: >$110 mn) (Target: >$650 mn) (Target: >$450 mn)
Slide 42: Delivering sustainable growth
Delivering sustainable growth Reaffirming Accelerate profitable sales growth with focus 2028 targets Menu expansion and installed base growth of key platforms ~7% Net sales CER CAGR Leverage continuum of research to clinical testing (2024-28) Convert research market success into clinical solutions ≥
Slide 43: Appendix
QIAGEN Appendix
Slide 44: Q1 and FY 2025: Outlook and assumptions
Q1 and FY 2025: Outlook and assumptions (As of February 5, 2025) Q1 2025 outlook FY 2025 outlook Net sales ~+3% CER / ~+4% CER core portfolio(1) ~+4% CER / ~+5% CER core portfolio(1) Anticipated currency impact(2) Adverse impact of ~-2 ppt Adverse impact of ~-2 ppt Adjusted diluted EPS(3) >$0.50 CER
Slide 45: Q4 2024: Consolidated Statements of Income (unaudited)
Q4 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Three months ended Three months ended December 31, 2024 December 31, 2023 Net sales 521,202 509,162 Cost of sales: Cost of sales 174,401 177,018 Acquisition-related intangible amortization 13,511 16,044 Total
Slide 46: FY 2024: Consolidated Statements of Income (unaudited)
FY 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Twelve months ended Twelve months ended December 31, 2024 December 31, 2023 Net sales 1,978,214 1,965,311 Cost of sales: Cost of sales 952,323 667,425 Acquisition-related intangible amortization 58,541 64,198
Slide 47: 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% 162 -2% -1% 642 -3% -3% Diagn
Slide 48: 2024: Quarterly sales by product type and region
2024: Quarterly sales by product type 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% 448 7% 8% 461 4
Slide 49: Q4 and FY 2024: Reconciliation to adjusted results (unaudited)
Q4 and FY 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(1) Fourth quarter 2024 Reported results 521.2 333.2 119.1 125.8 (37.5) 30% 88.3 0.39 Adjustments Business integ
Slide 50: Q4 and FY 2024: Footnotes for reconciliation to adjusted results
Q4 and FY 2024: Footnotes for reconciliation to adjusted results (unaudited) (a) Includes costs incurred in connection with streamlining operations and improving overall efficiency as well as costs related to various contemplated and completed acquisition projects and their subsequent integration. (
Slide 51: 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 458.8 496.3 501.9 521.2 1,978.2 Net sales (CER) 461.7 502.0 502.2 524.6 1,990.5 Gross profit 291.0 34.8 308.3 333.3 967.3 Gross profit margin 63.4
Slide 52: Consolidated Balance Sheets
Consolidated Balance Sheets December 31, December 31, December 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 663,555 668,084 Current portion of long-term debt
Slide 53: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows Twelve months ended December 31, December 31, Twelve months ended December 31, December 31, (In $ thousands) 2024 2023 (In $ thousands) 2024 2023 Cash flows from operating activities: u (unaudited) Cash flows from financing activities: (unaudited) Net income 83,
Slide 54: Q4 and FY 2024: Currency impact
Q4 and FY 2024: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q4 2024 U.S. dollar 279.6 279.6 53% 0.0 Euro 107.7 108.9 21% 1.2 British pound 19.3 18.5 4% -0.8 Japanese yen 11.5 12.0 2% 0.5 Other currencies 103.0 105.6
Slide 55: Employees as of December 31, 2024
Employees as of December 31, 2024 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q4 2024 Q3 2024 Change Production 360 1,138 138 1,636 1,684 -3% R&D 185 761 55 1,001 1,039 -4% Sales 567 839 741 2,147 2,149 0% Marketing 65 190 69 324 327 -1% Administration 81 418 158 65
Slide 56: Your contacts
Your contacts Dr. Domenica Martorana Associate Director Calendar Global Investor Relations Q1 2025 results May 2025 Phone: +49 2103 29 11244 E-mail: domenica.martorana@qiagen.com Annual General Meeting June 2025 Alexandra Koenig Coordinator Share information Investor Relations NYSE: QGEN Phone: +49