Q1 2025 results confirm preliminary announcement: Net sales of $483 million (+5% actual rates, +7% constant exchange rates, CER); adjusted diluted EPS of $0.55
Net sales growth of +7% CER ahead of outlook for about +3% CER growth and adjusted diluted EPS of $0.56 CER ahead of outlook for at least $0.50 CER
29.8% adj. operating income margin up 4.1 percentage points vs. 25.7% in Q1 2024
Operating cash flow of $140 million in Q1 2025 vs. $133 million in Q1 2024
Proposal at Annual General Meeting to introduce a dividend as expansion of capital allocation strategy, also seek authorization for a new $500 million share repurchase
Stephen H. Rusckowski proposed to become new Chairman of Supervisory Board as Lawrence A. Rosen chooses to step down from Board after upcoming AGM
2025 outlook reaffirmed for about 4% CER sales growth (about +5% CER core sales growth); recently increased adj. diluted EPS outlook reaffirmed for about $2.35 CER
VENLO, the Netherlands, May 07, 2025--(BUSINESS WIRE)--QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today confirmed strong Q1 2025 results in line with the preliminary announcement and reaffirmed its FY 2025 outlook based on the solid start to the year and evolving macroeconomic trends.
As announced on April 6, net sales in Q1 2025 rose 5% to $483 million from Q1 2024, with 7% growth at constant exchange rates (CER) well above the outlook. Core sales (excludes discontinued products such as NeuMoDx and Dialunox) also rose 7% CER. The adjusted operating income margin improved by 4.1 percentage points to 29.8%, supported by broad efficiency gains and the 2024 decision to discontinue the NeuMoDx clinical PCR testing system. Adjusted diluted earnings per share (EPS) were $0.55, and results of $0.56 CER exceeded the outlook for at least $0.50 CER.
In view of the Q1 2025 results, as well as ongoing macro trends (including U.S. and China import tariffs), QIAGEN reaffirms its FY 2025 net sales outlook for about 4% CER (core sales growth of about 5% CER). The outlook for adjusted EPS was upgraded in April to about $2.35 CER. QIAGEN also reaffirmed its 2025 adjusted operating income margin target for above 30%, and expects to reach its mid-term margin goal of at least 31% well ahead of the original 2028 target.
"QIAGEN delivered a solid start to 2025, exceeding our outlook on both sales and adjusted earnings. Our growth pillars QIAstat-Dx and QuantiFERON both posted double-digit sales gains, while QIAcuity and QIAGEN Digital Insights both continued to build momentum and in Sample technologies we are focusing on automation and preparing for new instrument launches. These advancements highlight the execution of our focused strategy and our ability to perform amid global uncertainty. We have reaffirmed our full-year 2025 targets and remain committed to delivering solid, profitable growth as a foundation for achieving our 2028 ambitions," said Thierry Bernard, CEO of QIAGEN.
"We maintained strong financial discipline in the first quarter, generating solid cash flow levels while funding key investments and advancing efficiency initiatives. This strength has enabled QIAGEN to expand our capital allocation strategy with the proposal to initiate an annual dividend and also to seek shareholder approval for a new synthetic share repurchase authorization. These actions reflect our commitment to creating greater value by generating operational leverage and strong cash flows while increasing returns," said Roland Sackers, CFO of QIAGEN.
Please find a PDF of the full press release incl. tables here.
Investor presentation and conference call
A conference call is scheduled for Thursday, May 8, 2025, at 15:00 Frankfurt Time / 14:00 London Time / 09:00 New York Time. A live audio webcast will be accessible in the investor relations section of the QIAGEN website (www.qiagen.com), with a recording available after the event. The presentation will be published ahead of the call in this section: QIAGEN Investor Relations - Events and Presentations.
Use of adjusted results
QIAGEN reports adjusted results, as well as results on a constant exchange rate (CER) basis, along with other non-U.S. GAAP (generally accepted accounting principles) measures, to provide deeper insights into its performance. These include metrics such as core sales (excluding discontinued products), adjusted gross margin, adjusted gross profit, adjusted operating income, adjusted operating expenses, adjusted operating income margin, adjusted net income, adjusted net income before taxes, adjusted diluted EPS, adjusted EBITDA, adjusted EPS, adjusted income taxes, adjusted tax rate, and free cash flow. Free cash flow is calculated by subtracting capital expenditures for property, plant and equipment from cash flow from operating activities. Adjusted results are non-GAAP financial measures that QIAGEN considers complementary to GAAP-reported results but not as substitutes. These measures exclude items that QIAGEN believes are outside of ongoing core operations, fluctuate significantly between periods, or hinder the comparability of results with competitors and prior periods. QIAGEN also uses non-GAAP and constant currency financial measures internally in planning, forecasting and reporting, and also for employee compensation. Additionally, adjusted results are used to compare current performance with historical results, which have consistently been presented on an adjusted basis.
About QIAGEN
QIAGEN N.V., a Netherlands-based holding company, is the leading global provider of Sample to Insight solutions, enabling customers to extract and gain valuable molecular insights from samples containing the building blocks of life. Our Sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies prepare these biomolecules for analysis while bioinformatics software and knowledge bases can be used to interpret data to find actionable insights. Automation solutions bring these processes together into seamless and cost-effective workflows. QIAGEN serves over 500,000 customers globally in Life Sciences (academia, pharma R&D and industrial applications, primarily forensics) and Molecular Diagnostics for clinical healthcare. As of March 31, 2025, QIAGEN employed approximately 5,700 people in over 35 locations worldwide. For more information, visit www.qiagen.com.
Forward-Looking Statement
Certain statements in this press release may constitute forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements, including those regarding QIAGEN's products, development timelines, marketing and / or regulatory approvals, financial and operational outlook, growth strategies, collaborations and operating results - such as expected adjusted net sales and adjusted diluted earnings - are based on current expectations and assumptions. However, they involve uncertainties and risks. These risks include, but are not limited to, challenges in managing growth and international operations (including the effects of currency fluctuations, regulatory processes and logistical dependencies), variability in operating results, commercial development for our products to customers in the Life Sciences and clinical healthcare, changes in relationships with customers, suppliers or strategic partners; competition and rapid technological advancements; fluctuating demand for QIAGEN's products due to factors such as economic conditions, customer budgets and funding cycles; obtaining and maintaining regulatory approvals for our products; difficulties in successfully adapting QIAGEN's products into integrated solutions and producing these products; and protecting product differentiation from competitors. Additional uncertainties may arise from market acceptance of new products, integration of acquisitions, governmental actions, global or regional economic developments, natural disasters, political or public health crises, and other "force majeure" events. There is also no guarantee that anticipated benefits from restructuring programs and acquisitions will materialize as expected. For a comprehensive overview of risks, please refer to the "Risk Factors" contained in our most recent Annual Report on Form 20-F and other reports filed with or furnished to the U.S. Securities and Exchange Commission.
