– Revenue of $1.003 Billion, GAAP Diluted EPS of $0.90, and Non-GAAP Diluted EPS of $0.95 All Significantly Ahead of Expectations –

– Global Organic Molecular Diagnostics ex-COVID-19 Revenue Grows Over 20% in Constant Currency –

– Company Again Increases Full-Year Revenue and EPS Guidance –

MARLBOROUGH, Mass.--(BUSINESS WIRE)-- Hologic, Inc. (Nasdaq: HOLX) announced today the Company’s financial results for the fiscal third quarter ended June 25, 2022.

“In our third quarter of fiscal 2022, Hologic delivered exceptionally strong growth in our base Diagnostics and Surgical franchises, powering financial results that meaningfully exceeded our guidance for both revenue and profitability,” said Steve MacMillan, the Company’s chairman, president and chief executive officer. “With strength in our base business, a natural hedge to COVID outbreaks, plus a fortified balance sheet and robust cash flow, we have high confidence in our business. In addition, with a presence advocating for women’s health at this year’s World Economic Forum Annual Meeting, Hologic continues to drive our message on the global stage to impact more women around the world.”

Recent Highlights

• Revenue of $1.003 billion decreased (14.2%) for the quarter, or (12.2%) in constant currency, primarily driven by lower international sales of COVID-19 assays and supply chain challenges related to semiconductor chips in our Breast Health business compared to the prior year period. Revenue, however, was significantly higher than the Company’s guidance of $875 to $915 million provided last quarter.
• Excluding revenue from COVID-19, organic revenue declined (1.4%) on a constant currency basis primarily due to persistent semiconductor chip shortages impacting the Breast Health business.
• Global diagnostics revenue decreased (15.8%), or (13.6%) in constant currency, primarily driven by lower international sales of COVID-19 assays compared to the prior year period. Excluding COVID-19 revenues, global diagnostics revenue grew 15.0% on an organic, constant currency basis. Similarly, global molecular diagnostics revenue declined (18.9%), or (16.8%) in constant currency, yet grew 22.4% on an organic, constant currency basis excluding COVID-19 revenues.
• Global revenue for the Company’s Breast Health business declined (19.0%), or (17.5%) in constant currency, as expected, primarily due to semiconductor chip shortages. However, gantry demand remains strong.
• Global revenue for the Company’s Surgical business grew 8.0%, or 9.7% in constant currency, primarily driven by MyoSure, Fluent Fluid Management System sales, and Bolder.
• Cash flow from operations remained very strong in the third quarter at $330.6 million.
• Assay approvals in molecular diagnostics:
  • Received FDA approval for our Aptima CMV Quant assay to quantify the viral load of cytomegalovirus (CMV) in patients who have had solid organ or stem cell transplants.
  • Received European CE mark for our Panther Fusion EBV Quant assay and Panther Fusion BKV Quant assay, to further expand pathogen monitoring menu on the Panther Fusion system.
  • Received European CE mark for our Panther Fusion SARS-CoV-2/Flu A/B/RSV assay and Novodiag RESP-4 molecular diagnostic test. Both assays detect and differentiate four of the most prevalent respiratory viruses that can present with similar clinical symptoms: severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), influenza A (Flu A), influenza B (Flu B) and respiratory syncytial virus (RSV).

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