Slide 1: Fiscal Year 2025 Second-Quarter Preliminary Results
Fiscal Year 2025 Second-Quarter Preliminary Results January 10, 2025 ©2020 NEOGEN Corporation. All rights reserved.
Slide 2: Disclaimer
Disclaimer Preliminary Results and Forward-Looking Statements The Company’s reported results in this presentation are preliminary. The Company has not yet completed its quarter-end reporting process, and the Company’s independent auditor has not completed its review. Accordingly, final results and o
Slide 3: Q2 FY25 Summary
Q2 FY25 Summary • Sequential improvement in both Food Safety and Animal Safety core growth ‒ Additional progress made on share recovery efforts in Food Safety ‒ Sample Collection production ramp-up continuing • End-market environment showed modest improvement from Q1 ‒ Food production volumes genera
Slide 4: Financial Highlights
Financial Highlights Adjusted Net Income Revenue ($M) Adjusted EBITDA(2) ($M) ($M, excl. per share) $229.6 $231.3 $55.1 $51.4 $24.9 $24.4 $0.11 $0.11 24.0% 22.2% Adjusted Adjusted (3) (3) Margin Margin EPS EPS Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 • Core revenue growth(1) of 3.6% in Food •
Slide 5: Balance Sheet & Capital Allocation
Balance Sheet & Capital Allocation Debt Profile Gross Debt $900M • Q2 Free Cash Flow(2) improved by approximately $80M Less: Cash & Equivalents compared to Q1 $140M – Driven primarily by increased working capital efficiency 61% and capital expenditures timing 39% Net Debt (1) – Largest portion of FY
Slide 6: FY25 Outlook
FY25 Outlook • Updating full-year outlook • Revenue: $905 million – $925 million – Reflects meaningful strengthening of the US dollar compared to assumptions entering the fiscal year – Balance of the change related to intentional attrition of additional Genomics business from the recent restructurin
Slide 7: Summary
Summary • Steady progress from Q1 as we have shifted from integration focus to demand generation • Share recapture efforts progressing well – improved sequentially from Q1 to Q2 • End markets showing signs of gradual improvement • Favorable regulatory backdrop as food safety awareness and expectatio
Slide 8: Thank you for joining us.
To view the earnings press release Thank you for and presentation, visit: WWW.NEOGEN.COM/INVESTOR-RELATIONS joining us. 8 ©2024 NEOGEN Corporation. All rights reserved.
Slide 9: Appendix
Appendix
Slide 10: Non-GAAP Reconciliations: Adjusted EBITDA
Non-GAAP Reconciliations Adjusted EBITDA 10 ©2024 NEOGEN Corporation. All rights reserved.
Slide 11: Non-GAAP Reconciliations: Adjusted Net Income
Non-GAAP Reconciliations Adjusted Net Income 11 ©2024 NEOGEN Corporation. All rights reserved.
Slide 12: Non-GAAP Reconciliations: Core Growth and Free Cash Flow
Non-GAAP Reconciliations Core Growth and Free Cash Flow 12 ©2024 NEOGEN Corporation. All rights reserved.