Hologic Inc. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>Hologic Inc. filed its quarterly report (10-Q) for the period ending December 30, 2023, detailing its financial performance for the first quarter of fiscal year 2024.</b>

AI Summary

HOLOGIC INC (HOLX) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. Hologic Inc. filed a 10-Q report for the period ending December 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on September 28th. Hologic Inc. is incorporated in Delaware. The company's business address is 250 Campus Drive, Marlborough, MA 01752.

Why It Matters

For investors and stakeholders tracking HOLOGIC INC, this filing contains several important signals. This filing provides investors with an update on Hologic's financial health and operational performance during the specified quarter. Understanding the details within this 10-Q is crucial for assessing the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — HOLOGIC INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine financial disclosure for publicly traded companies, indicating no immediate or unusual risks are highlighted in this specific document type.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Hologic's performance drivers and outlook.

Key Numbers

• 20231230 — Period End Date (CONFORMED PERIOD OF REPORT)
• 20240202 — Filing Date (FILED AS OF DATE)
• 0928 — Fiscal Year End (FISCAL YEAR END)
• 001-36214 — SEC File Number (SEC FILE NUMBER)

Key Players & Entities

• HOLOGIC INC (company) — FILER
• 20231230 (date) — CONFORMED PERIOD OF REPORT
• 20240202 (date) — FILED AS OF DATE
• 250 CAMPUS DRIVE (address) — BUSINESS ADDRESS
• MARLBOROUGH (city) — BUSINESS ADDRESS
• MA (state) — BUSINESS ADDRESS
• 01752 (zip_code) — BUSINESS ADDRESS
• DE (state) — STATE OF INCORPORATION

FAQ

Industry Context

Hologic Inc. operates in the medical device industry, specifically focusing on women's health and diagnostics.

Regulatory Implications

As a publicly traded company, Hologic Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports on Form 10-Q.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Check for any significant updates or changes in risk factors or legal proceedings.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending December 30, 2023, following the previous fiscal year's reporting cycle.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value HOLX NASDAQ Indicate by che

Filing Documents

• holx-20231230.htm (10-Q) — 1593KB
• holx_q1-2024ex311.htm (EX-31.1) — 10KB
• holx_q1-2024ex312.htm (EX-31.2) — 9KB
• holx_q1-2024ex321.htm (EX-32.1) — 5KB
• holx_q1-2024ex322.htm (EX-32.2) — 5KB
• 0000859737-24-000003.txt (&nbsp;) — 8152KB
• holx-20231230.xsd (EX-101.SCH) — 60KB
• holx-20231230_cal.xml (EX-101.CAL) — 69KB
• holx-20231230_def.xml (EX-101.DEF) — 277KB
• holx-20231230_lab.xml (EX-101.LAB) — 735KB
• holx-20231230_pre.xml (EX-101.PRE) — 499KB
• holx-20231230_htm.xml (XML) — 1182KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Consolidated Financial Statements (unaudited)

Item 1. Consolidated Financial Statements (unaudited) Consolidated Statements of Income for the Three Months Ended December 30 , 2023 and December 31 . 2022 3 Consolidated Statements of Comprehensive Income for the Three Months Ended December 30, 2023 and December 31, 2022 4 Consolidated Balance Sheets as of December 30, 2023 and September 30, 2023 5 Consolidated Statements of Stockholders' Equity for the Three Months Ended December 30, 2023 and Year Ended September 30, 2023 6 Consolidated Statements of Cash Flows for the T hree Months Ended December 30 , 2023 and December 31 , 2022 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 39

Controls and Procedures

Item 4. Controls and Procedures 41

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 42

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44

SIGNATURES

SIGNATURES 45 EXHIBITS 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) HOLOGIC, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per share data) Three Months Ended December 30, 2023 December 31, 2022 Revenues: Product $ 828.1 $ 886.3 Service and other 185.0 187.9 1,013.1 1,074.2 Costs of revenues: Product 307.2 296.2 Amortization of acquired intangible assets 45.5 55.6 Service and other 92.9 104.5 Gross profit 567.5 617.9 Operating expenses: Research and development 66.8 74.8 Selling and marketing 148.9 163.5 General and administrative 111.8 108.5 Amortization of acquired intangible assets 13.3 7.6 Impairment of intangible asset 4.3 — Contingent consideration - fair value adjustment 1.7 — Restructuring charges 22.5 1.1 369.3 355.5 Income from operations 198.2 262.4 Interest income 27.9 20.6 Interest expense ( 26.0 ) ( 28.1 ) Other expense, net ( 8.8 ) ( 15.8 ) Income before income taxes 191.3 239.1 Provision (benefit) for income taxes ( 55.2 ) 51.7 Net income $ 246.5 $ 187.4 Net income per common share: Basic $ 1.03 $ 0.76 Diluted $ 1.03 $ 0.75 Weighted average number of shares outstanding: Basic 238,627 247,319 Diluted 240,214 249,281 See accompanying notes. 3 Table of Contents HOLOGIC, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In millions) Three Months Ended December 30, 2023 December 31, 2022 Net income $ 246.5 $ 187.4 Changes in foreign currency translation adjustment 43.0 113.8 Changes in value of hedged interest rate swaps, net of tax of $( 4.5 ) for the three months ended December 30, 2023 and $( 0.9 ) for the three months ended December 31, 2022. Loss recognized in other comprehensive income ( 14.2 ) ( 2.9 ) Other comprehensive income 28.8 110.9 Comprehensive income $ 275.3 $ 298.3 See accompanying notes. 4 Table of Contents HOLOGIC, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (All tabular amounts in millions, except number of shares, which are reflected in thousands, and per share data) (1) Basis of Presentation The unaudited consolidated financial statements of Hologic, Inc. ("Hologic" or the "Company") presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (the "SEC") for quarterly reports on Form 10-Q and do not include all of the information and disclosures required by U.S. generally accepted accounting principles ("GAAP") for annual financial statements. These unaudited financial statements should be read in conjunction with the consolidated financial statements and related notes for the fiscal year ended September 30, 2023 included in the Company's annual report on Form 10-K filed with the SEC on November 21, 2023. In the opinion of management, the unaudited financial statements and notes contain all adjustments (consisting of normal recurring accruals and all other necessary adjustments) considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. The unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from management's estimates if past experience or other assumptions do not turn out to be substantially accurate. Operating results for the three months ended December 30, 2023 are not necessarily indicative of the re

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