– Revenue of $987.9 Million, GAAP Diluted EPS of $0.76 and Non-GAAP Diluted EPS of $1.01 –

– Total Company Revenue Growth of 4.5%, or 4.2% in Constant Currency and 5.0% Organically ex. COVID-19 in Constant Currency –

– Company Expects Strong Execution of its Broad-Based Growth Strategy in Fiscal 2025 –

MARLBOROUGH, Mass.--(BUSINESS WIRE)-- Hologic, Inc. (Nasdaq: HOLX) announced today the Company’s financial results for the fiscal fourth quarter ended September 28, 2024 .

"We delivered strong fiscal 2024 results, reinforcing our track record of durable performance with another solid quarter of growth," said Steve MacMillan, Hologic’s chairman, president, and chief executive officer. "Each year we grow stronger, leveraging our leading brands to drive diverse revenue growth and industry leading margins, while generating exceptional cash flow. We are excited for 2025, as we continue to drive market creation with our intense focus on workflow efficiency and automation, ultimately making a difference for our customers and patients worldwide."

Recent Highlights

• Revenue of $987.9 million increased 4.5% for the quarter, or 4.2% in constant currency.
  • Excluding COVID-19 revenues, total organic revenue, which excludes the divested Blood Screening and SSI businesses and the newly acquired Endomagnetics business, grew 5.3%, or 5.0% on a constant currency basis.
• Diagnostics revenue increased 6.5%, or 6.2% in constant currency, primarily driven by higher Molecular Diagnostics sales, partially offset by lower sales of COVID-19 assays compared to the prior year period.
  • Excluding COVID-19 revenues, organic Diagnostics revenue grew 9.5%, or 9.2% on a constant currency basis.
  • Molecular Diagnostics revenue increased 9.4%, or 9.1% in constant currency compared to the prior year period, primarily driven by higher sales of the Company’s BV CV/TV and non-COVID-19 respiratory assays, as well as Biotheranostics lab testing.
  • Excluding COVID-19 revenues, Molecular Diagnostics revenue grew 13.4%, or 13.2% on a constant currency basis.
• Breast Health revenue increased 6.4%, or 6.2% in constant currency, primarily driven by strong Breast Imaging Service revenue and the addition of Endomagnetics.
  • Organic Breast Health revenue, which excludes SSI and Endomagnetics, increased 5.6%, or 5.3% in constant currency.
• Surgical revenue grew 5.7%, or 5.4% in constant currency, primarily driven by strong International performance.
• Cash flow from operations remained strong in the fourth quarter at $367.1 million.
• The Company repurchased 0.7 million shares for $58 million in the fourth quarter of fiscal 2024. For the full year of fiscal 2024, the Company repurchased 11.2 million shares of its common stock for $808 million, which includes the $500 million accelerated share repurchase (ASR) completed in the second quarter of fiscal 2024.
• The Company intends to enter into an accelerated share repurchase (ASR) agreement for $250 million of the Company’s common stock. The Company expects the ASR will become effective in the Company’s first quarter of fiscal 2025 and the final settlement of the ASR is expected to be completed in the second quarter of fiscal 2025. The ASR will be completed pursuant to the existing announced share repurchase authorizations approved by Hologic’s board of directors.
• On July 25, 2024, the Company completed the acquisition of Endomagnetics Ltd, a privately held UK-based developer of breast cancer surgery technologies, for approximately $310 million, as the Company expands and diversifies its interventional breast business.
• On October 14, 2024, the Company announced its agreement to acquire Gynesonics, Inc., a privately held medical device company focused on the development of minimally invasive solutions for women’s health for approximately $350 million, subject to adjustment, as the Company seeks to broaden its surgical portfolio. The Company anticipates closing this acquisition in the first half of calendar year 2025. Completion of the acquisition is subject to customary closing conditions, including receipt of required regulatory approvals.

Key financial results for the fiscal fourth quarter are shown in the table below.