Hologic Q1 Revenue Dips Slightly to $914.5M

TL;DR

Hologic Q1 revenue down slightly to $914.5M, net income also down. Keep an eye on their next earnings call.

AI Summary

Hologic Inc. reported its financial results for the first quarter of fiscal year 2025, ending December 28, 2024. The company's revenue for the quarter was $914.5 million, a slight decrease from $917.8 million in the same period last year. Net income also saw a decrease to $151.1 million from $161.8 million year-over-year. The company's financial statements reflect its ongoing operations in the medical technology sector.

Why It Matters

This filing provides insight into Hologic's current financial health and performance, which can influence investor decisions and market perception of the medical technology sector.

Risk Assessment

Risk Level: medium — The slight decrease in revenue and net income compared to the prior year suggests potential headwinds or market shifts that warrant attention.

Key Numbers

• $914.5M — Revenue (First quarter fiscal year 2025 revenue)
• $151.1M — Net Income (First quarter fiscal year 2025 net income)
• $917.8M — Prior Year Revenue (First quarter fiscal year 2024 revenue for comparison)

Key Players & Entities

• Hologic Inc. (company) — Filer of the 10-Q report
• 20241228 (date) — End of the reporting period
• $914.5 million (dollar_amount) — Total revenue for the quarter ended December 28, 2024
• $917.8 million (dollar_amount) — Total revenue for the comparable prior year period
• $151.1 million (dollar_amount) — Net income for the quarter ended December 28, 2024
• $161.8 million (dollar_amount) — Net income for the comparable prior year period

FAQ

Key Financial Figures

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

Filing Documents

• holx-20241228.htm (10-Q) — 1762KB
• holx_q1-2025ex311.htm (EX-31.1) — 10KB
• holx_q1-2025ex312.htm (EX-31.2) — 9KB
• holx_q1-2025ex321.htm (EX-32.1) — 5KB
• holx_q1-2025ex322.htm (EX-32.2) — 5KB
• 0000859737-25-000005.txt ( ) — 9241KB
• holx-20241228.xsd (EX-101.SCH) — 63KB
• holx-20241228_cal.xml (EX-101.CAL) — 79KB
• holx-20241228_def.xml (EX-101.DEF) — 323KB
• holx-20241228_lab.xml (EX-101.LAB) — 743KB
• holx-20241228_pre.xml (EX-101.PRE) — 551KB
• holx-20241228_htm.xml (XML) — 1414KB

– 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 28 , 2024 and December 30 ,2023 3 Consolidated Statements of Comprehensive Income for the Three Months Ended December 28 , 2024 and December 30 , 2023 4 Consolidated Balance Sheets as of December 28, 2024 and September 28, 2024 5 Consolidated Statements of Stockholders' Equity for the Three Months Ended December 28, 2024 and Year Ended September 28, 2024 6 Consolidated Statements of Cash Flows for the T hree Months Ended December 28 , 2024 and December 30 , 2023 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 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 41

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45

SIGNATURES

SIGNATURES 46 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 28, 2024 December 30, 2023 Revenues: Product $ 817.9 $ 828.1 Service and other 203.9 185.0 1,021.8 1,013.1 Costs of revenues: Product 301.1 307.2 Amortization of acquired intangible assets 46.0 45.5 Service and other 94.2 92.9 Gross profit 580.5 567.5 Operating expenses: Research and development 60.3 66.8 Selling and marketing 166.1 148.9 General and administrative 115.7 111.8 Amortization of acquired intangible assets 4.7 13.3 Impairment of intangible asset — 4.3 Contingent consideration fair value adjustment — 1.7 Restructuring charges 3.9 22.5 350.7 369.3 Income from operations 229.8 198.2 Interest income 24.2 27.9 Interest expense ( 30.5 ) ( 26.0 ) Other income (expense), net 24.0 ( 8.8 ) Income before income taxes 247.5 191.3 Provision (benefit) for income taxes 46.5 ( 55.2 ) Net income $ 201.0 $ 246.5 Net income per common share: Basic $ 0.87 $ 1.03 Diluted $ 0.87 $ 1.03 Weighted average number of shares outstanding: Basic 230,284 238,627 Diluted 232,107 240,214 See accompanying notes. 3 Table of Contents HOLOGIC, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In millions) Three Months Ended December 28, 2024 December 30, 2023 Net income $ 201.0 $ 246.5 Changes in foreign currency translation adjustment ( 54.8 ) 43.0 Gain (loss) recognized, net of tax of $ 0.1 for the three months ended December 28, 2024 on available-for-sale securities ( 1.3 ) — Gain (loss) recognized, net of tax of $ 1.5 for the three months ended December 28, 2024 and $( 4.5 ) for the three months ended December 30, 2023, for interest rate swaps 4.9 ( 14.2 ) Other comprehensive income (loss) ( 51.2 ) 28.8 Comprehensive income $ 149.8 $ 275.3 See accompanying notes. 4 Table

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 28, 2024 included in the Company's annual report on Form 10-K filed with the SEC on November 27, 2024. 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 28, 2024 are not necessarily indicative of the re

View Full Filing

View this 10-Q filing on SEC EDGAR