Hologic Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Hologic Inc. filed its quarterly report (10-Q) for the period ending March 30, 2024, detailing its financial performance and business operations.</b>

AI Summary

HOLOGIC INC (HOLX) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Hologic Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on September 28. Hologic Inc. is incorporated in Delaware. The company's principal business is X-Ray Apparatus & Tubes & Related Irradiation Apparatus.

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 progress during the second quarter of fiscal year 2024. Understanding the details within this 10-Q is crucial for assessing the company's current market position and future prospects in the medical technology sector.

Risk Assessment

Risk Level: low — HOLOGIC INC shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate red flags, indicating a low level of immediate risk from this specific filing.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to identify any emerging trends or significant changes in performance.

Key Numbers

• 2024-03-30 — Period of Report (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filed as of Date (FILED AS OF DATE)
• 2024-04-25 — Filing Date (Date of Filing)
• 2024 Q2 — Fiscal Quarter (Fiscal Quarter)

Key Players & Entities

• HOLOGIC INC (company) — FILER
• 0000859737 (company) — CENTRAL INDEX KEY
• DE (company) — STATE OF INCORPORATION
• 042902449 (company) — IRS NUMBER
• MARLBOROUGH (company) — CITY
• MA (company) — STATE
• 01752 (company) — ZIP
• 5082632900 (company) — BUSINESS PHONE

FAQ

Industry Context

Hologic Inc. operates in the medical technology sector, specifically focusing on X-ray apparatus and related irradiation equipment.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934, requiring public companies to submit quarterly financial information.

What Investors Should Do

1. Analyze the revenue and profitability trends for the reported quarter.
2. Examine any changes in the company's balance sheet and cash flow statement.
3. Review management's discussion and analysis for insights into business performance and outlook.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 30, 2024. Previous filings would be for earlier periods.

Key Financial Figures

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

Filing Documents

• holx-20240330.htm (10-Q) — 2133KB
• ex101-hellmanntransitionag.htm (EX-10.1) — 81KB
• ex102-dunnesevandcicx1924.htm (EX-10.2) — 94KB
• ex103-schnittkersevandcicx.htm (EX-10.3) — 94KB
• holx_q2-2024ex311.htm (EX-31.1) — 10KB
• holx_q2-2024ex312.htm (EX-31.2) — 9KB
• holx_q2-2024ex321.htm (EX-32.1) — 5KB
• holx_q2-2024ex322.htm (EX-32.2) — 5KB
• 0000859737-24-000014.txt (&nbsp;) — 10309KB
• holx-20240330.xsd (EX-101.SCH) — 64KB
• holx-20240330_cal.xml (EX-101.CAL) — 72KB
• holx-20240330_def.xml (EX-101.DEF) — 313KB
• holx-20240330_lab.xml (EX-101.LAB) — 701KB
• holx-20240330_pre.xml (EX-101.PRE) — 539KB
• holx-20240330_htm.xml (XML) — 1747KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Consolidated Financial Statements (unaudited)

Item 1. Consolidated Financial Statements (unaudited) Consolidated Statements of Income for the Three and Six Months Ended March 30, 2024 and April 1,2023 3 Consolidated Statements of Comprehensive Income for the Three and Six Months Ended March 30, 2024 and April 1, 2023 4 Consolidated Balance Sheets as of March 30, 202 4 and September 30, 2023 5 Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended March 30, 202 4 and Year Ended September 30, 2023 6 Consolidated Statements of Cash Flows for the Six Months Ended March 30, 2024 and April 1, 2023 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9

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 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 45

Controls and Procedures

Item 4. Controls and Procedures 46

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 49

SIGNATURES

SIGNATURES 50 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 Six Months Ended March 30, 2024 April 1, 2023 March 30, 2024 April 1, 2023 Revenues: Product $ 828.0 $ 837.4 $ 1,656.0 $ 1,723.8 Service and other 189.8 189.1 374.9 376.9 1,017.8 1,026.5 2,030.9 2,100.7 Costs of revenues: Product 308.6 292.1 615.7 588.3 Amortization of acquired intangible assets 44.9 52.1 90.5 107.7 Impairment of intangible asset 25.9 — 25.9 — Service and other 96.1 96.5 189.0 201.0 Gross profit 542.3 585.8 1,109.8 1,203.7 Operating expenses: Research and development 74.6 74.0 141.4 148.8 Selling and marketing 144.2 142.4 293.1 305.9 General and administrative 100.4 100.8 212.2 209.3 Amortization of acquired intangible assets 5.7 7.1 19.0 14.7 Impairment of intangible assets 0.9 — 5.2 — Contingent consideration - fair value adjustments — ( 12.4 ) 1.7 ( 12.4 ) Restructuring charges 6.1 1.8 28.6 2.9 331.9 313.7 701.2 669.2 Income from operations 210.4 272.1 408.6 534.5 Interest income 24.0 31.5 51.9 52.1 Interest expense ( 32.3 ) ( 27.2 ) ( 58.3 ) ( 55.3 ) Other income (expense), net 9.4 2.9 0.6 ( 12.9 ) Income before income taxes 211.5 279.3 402.8 518.4 Provision (benefit) for income taxes 41.6 60.8 ( 13.6 ) 112.5 Net income $ 169.9 $ 218.5 $ 416.4 $ 405.9 Net income per common share: Basic $ 0.72 $ 0.88 $ 1.76 $ 1.64 Diluted $ 0.72 $ 0.87 $ 1.74 $ 1.63 Weighted average number of shares outstanding: Basic 235,890 247,730 237,258 247,524 Diluted 237,562 249,793 238,888 249,537 See accompanying notes. 3 Table of Contents HOLOGIC, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In millions) Three Months Ended Six Months Ended March 30, 2024 April 1, 2023 March 30, 2024 April 1, 2023 Net income $ 169.9 $ 218.5 $ 416.4 $ 405.9 Changes in foreign currency transla

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 and six months ended March 30, 2024 are not necessarily indicative of t

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View this 10-Q filing on SEC EDGAR