HAE - Earnings call transcript Q1 2025 | Haemonetics Corporation

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Operator

Thank you for standing by, and welcome to Haemonetics Corporation's First Quarter Fiscal Year 2025 Earnings Conference Call. [Operator Instructions]. I would now like to hand the call over to Olga Guyette, Vice President, Investor Relations and Treasury. Please go ahead.

Olga Guyette

Good morning, everyone. Thank you for joining us for Haemonetics' First Quarter Fiscal Year 2025 Conference Call and Webcast. Chris CEO; by our James today CFO. joined Simon, and our D'Arecca, I'm posted fiscal fiscal first to morning, our This we quarter Relations along our website, year with guidance. our 'XX Investor results XXXX

today currency a begin, and all rates specified reminder Before acquisitions. are impact we unless of quick organic, the and revenue that growth discussed fluctuation exclude otherwise,

in refer to year and of revenue weeks other organic Our the closing measures investors incorporates acquisition XXXX to revenue also certain note growth business understand guidance XX these December date financial non-GAAP Haemonetics' charges being offsets measures items. exclude to performance. for due XXXX. We'll that fiscal help income from Please ongoing

year items, to our of a to results XXXX periods, first list quarter For fiscal prior release our website. please reconciliations our full available on year refer and excluded GAAP earnings the comparisons with

and include the over filings. earnings our from in that SEC We results. today like Factors update forward-looking remarks our obligation undertake these I'd release include do Chris. Our it referenced to actual differ to statements, materially statements. And differ to forward-looking in any other results today's anticipated harbor statement to now those cause turn may may and our not results safe in

Christopher Simon

the to and prior a resilience needs. dynamic our and of all the lower portfolio, advanced the to as critical we quarter product ongoing fiscal first markets year. organically Good morning, share reinforcing business $XXX most delivery basis geopolitical from technologies growth and our on collect, and cost the joining. to of and reflects Thanks, diluted breadth the of continued Olga. reported decrease the of proven industry's status adjusted per $X.XX, thank for X% The in quarter X% plasmapheresis our a and we innovation of in capacity the our navigate reported in leader safely a revenue challenges. We as addressing succeed you earnings our year first of the Today, million, for X% of start strong strength growth

are and our Our growth recent attractive Hospital, supply plasma and the solutions new and delivering markets, portfolio. extending we relevance of meet blood demand center platelet while enabling in in the increased global therapies. In are products integrating reach acquisitions, for self-sufficient launching helping rest robust

significant Our results to revenue to underscore strategy accelerating growth. remain and our are and our in expanding profitable margins Haemonetics' we We our ability our for create shareholders. for customers value productivity, sustained growth and confident enhancing committed

revenue America quarter X% Turning last after now was planned year. transition. first driven down XX% by Plasma declined to in results. CSL's the our growing unit North business disposal revenue X%,

double customer grew high unforeseen the market per across transition, industry the and demand long-term expansion each temporary single lowering on and growth plasma collection IG have cost support Europe the digits focus volume replacement term, software for end the a quarter. Strong plasma disposable in the growth therapies and planned of collection heightened customers liter. fractionation the Near market. capacity in Excluding revenue was digits. outage, U.S. an America North in center

to before this remainder safe and year. end We underway, now than technology Persona the yield more improving evidence NexSys have plan real-world the compelling Plus Full time, significantly enhancements. Persona our have of million collection release of Plus throughput. Express is our of and completed door-to-door XX Express and of upgrade and to We time collections market customers consistent center fiscal

customers. an growth technology advanced and profitable us is for Our enabler of our

by in the the revenue negative Center by X%, and FY by rationalize increasing announced in company-wide market. collection continue distributors. continued globally drive X%, X% partially share as We range to previously part driven timing XXXX self-sufficiency Apheresis negative share for growth cell reaffirm margin of X% in the gains revenue optimize to transition. Blood Whole focus several of that U.S. expansion. gain additional driven among demand quarter. our to market growth revenue the for and the offset continues franchise in customer deliver We continue international contribution U.S., for we collections plasma outpaces demand XX% the on the to to expect order to as plasma plasma revenue our grew durable markets blood plasma. red across plasma to revenue decreased guidance source declined The

expand to are our NexSys' reach. global strengthening We customer relationships

Blood Our Center unchanged negative of X% FY negative revenue growth for in to the is XXXX X%. guidance range

to Moving our Hospital business.

guided basis, sensor technologies First reported including and our grew device quarter newly a XX% protection XX% esophageal acquired and organically. revenue on

both team has targets organic franchise adapted larger across very XX% Pulsed-field MVP expanded larger interventional and product with clinical full strengthening encouraging success, responses selling our highly of with and and VASCADE atrial to VASCADE market expand market procedures of and we and account where positive the cardiology. Growth underway across to Our allows growing the evolving and collagen our revenue early across The procedures. like [ of expeditiously treatment penetration network. our commercial largely technologies label of achieved sufficient utilization in release This features the across a minimal further successfully ablation used. XL, regardless vascular trends XX% XX% growth. ablation increased are closure ongoing access and continued to procedures which disclosures, completed plug in in been leadership market entire the completed, an swiftly us a throughout MVP. program commercial training device usage to busy. top accounts rapidly the was new is points, by product participate We and ensured was development U.S. focused portfolio results ] and from addressable a adoption XXX appendage comprehensive individual on support enabling integration training U.S. market left in limited atrial devices reported on adopters. fibrillation interventional the on The emphasis technology release with we've and basis With growth seen the driven electrophysiology of portfolio, quarter our interventional team hitting increased With

as in progress Japan well. established our having with accounts over significant internationally We are plans European further and presence our year. additional XXX in this markets making

our to We we $X.X force are the competition, XX%-plus support our and growth this in further unique sustain leadership expect over and convey vascular to business benefits clinical our expand position field economic in strengthening and billion market. the closure

franchise. total we these intact. we case million Our acquisitions acquired the days, products accelerating for have revenue delivered the but in $XX newly this feel early business of good a progress is growth about and further It's made of

and of this guidewire unique in our broadening patients to benefits months to extend the the excited more market are access. We launch in SavvyWire Europe coming by

We esophageal ensoETM cost-effective progress are cardiac and positive during clinical emerging considerable also to significantly including and presents reduced safe atrial highly catheter-based feedback fibrillation. It for and effectively ablation. a encouraged frequency reliable, market more radio technologies treat benefits, injury its safely opportunity alternative compelling a by the as with

Our Blood utilization Management quarter sales North platform. growth. a double-digit growth America, Xs delivered Technologies the first increased and XX% driven management franchise had in disposable strong with TEG [indiscernible] by on also revenue strong capital

device. is geopolitical in SafeTrace in management openings offset fully performing adult challenges liver enabling clinicians in Tx to generation and cartridge enhance accounts penetration platform, buy market neutralization and channel BloodTrack additional the also surgeries Heparin transplantation. Success all expansion serve China. by and new from for cardiovascular in benefited and us Transfusion and patients our Salvage positioning into America markets win Cell impressive share heparinized orders was new EMEA. invested Our further the older helping had from in U.S. quarter deeper We with time partially additional [ an upside across North account ]. last

ahead sales quarters, by synergies efficiency We are about XX% to from revenue expect product hospital revenue launches, us reaffirm excited our guidance scale. of business growth in newly our the acquired and previously hospital in of of new growth improving accelerate opportunities subsequent XX% driven products to and organic issued FY to XXXX. and XX% of XX% We growth reported expect and in

as drive attractive growth a refine to sustainable to portfolio we our year ahead expect We revenue continue at margins. strong

in the X% to to to the company, to X% FY organic we and continue range revenue expect be reported For of for to be total XXXX. X% growth flat growth

our to XXXX rest year over it to of fiscal and pass performance I'll Now James financial guidance. discuss the

James D'Arecca

Thank morning, everyone. and you, good Chris,

$XXX.X sustained this the on becoming our focus products success. across the to an organization. been new midterm continued quarter million, a first has ended and Adjusted from quarter positioning or XX.X%, one more disproportionate maintaining last margins Hospital year, We and business increase from successfully up mentioned, XX% us $XX with by The launched the the of driving a mix strong operating adjusted exceptionally evolution with of while short XXX the prior in in gross the and We Chris effect basis is our with quarter unit. productive momentum integrate for portfolio were As first higher objectives. in growing and acquisitions all of meaningful compared quarter driven expenses first points contribution volume of million an an margin year.

of adjusted to in along Opsens due As of in operating was Medical, the The additional revenue, quarter with expenses by investments. percentage XXX acquisitions growth to adjusted expenses XX.X%. increase basis operating points a and primarily increased the recent Attune

to primarily FX that adjusted related gross for synergize basis of full more with margin operating performance-based million, while fourth XX.X%, the products, acquisitions very need higher already both of year. Opsens our impacts compared increased Attune, is an quarter us with and operating strong $X.X of Sequentially, with the there XXX quarter fiscal points remainder or and we was to $XX expediting. This benefits a adjusted these X% costs. by was operating half to increase last fully, compensation see high-margin helping XXX was improved basis margin do increased adjusted work margin quarter offset due reducing adjusted by our adjusted lower and plasma first compared income with the our expanded of was these First inventory, quarter freight driven 'XX, points down million to Nearly expenses. operating decline

compared improvements progress ago. U.S. fiscal benefits guidance expect anticipating commercial income top steady We plan XX% long-range each these adjusted XX%, 'XX we 'XX in operating The expand first accounts year adjusted as margin reaffirm in our increase one tax operating quarter our of margins was strategies our achieving high beyond. We XX% with at towards to fiscal and the XXs. subsequent for the as XX% to in for the rate quarter we

our adjusted approximately fiscal be rate expect 'XX income XX%. tax to We

the negative our in earnings when the At First optimize earnings trends, quarter was about had diluted share Changes compared of $X.XX We half $X.X per mix was savings share prospects the share FX, $X.XX interest expense, with on impact first diluted the interest market year. $X.XX when from down earnings reaffirm to and portfolio adjusted with tax our our adjusted on net ability of guidance income of our to the expense quarter approximately X% capitalize first a million compared adjusted strong tax down excellence. We million, and with interest per for or our of adjusted remain guidance operational expense and 'XX. income X%, count $X.XX. foreign fiscal rate, and per diluted prior $X.XX now midpoint share being $XX.X quarter about exchange adjusted realize we range, emerging through of responsible that. income impacts and optimistic anticipate

we to Turning one higher a to and of and CapEx spends, highlights. proceeds of cash of certain income outflow cash primarily a balance and $XX first related additional with $XX our due inventory had had of the capital now million. working outflow cash of facilities, the lower payments. select to from of quarter, timing our flow In sheet net manufacturing million Combined we sale net increased free

debt of million end flow the the $XXX on at 'XX fiscal of free expectation a to Our the of $XXX was repurchase for due Cash up hand of to unchanged in net primarily $XXX recently million cash completed our our notes since 'XX. million, due in at fiscal of the convertible million XXXX. $XXX portion quarter end remains financing

to on revolving acquisitions capped the and [ ] and Opsens help the credit recent facility the paydown borrowings used Attune. of and call New of fund transactions transaction-related fees

net recently a our million $XXX revolving a at a includes leverage unsecured $X A credit X.Xx in ratio quarter. Our and $XXX consisting which notes, updated of Term billion convertible the Loan debt first approximately of end as well structure EBITDA facility refinanced our capital million puts at as facility unsecured

a refinancing facility credit our we the helping with with associated remain This of earnings of while ] at interest million the share. when call financial attractive mitigate securities during of reaches X.X% conversion share [ over a a $XX ensure strong prefund first quarter, protection the allowed to risks on we premium a $XXX addition issue the us convertible growth in and portion growth issued coupon capped to convertible note discussed additional rates $XXX In of price the or until XXX% a position upcoming call, the a and May price opportunities. transaction to price our pursuing agenda maturities ensuring

transition to as of year start takeaways forward. I key strategic share some on direction we to and Before the Q&A, would we like moving our our reflect fiscal

first impact. strength and Our performance our quarter demonstrated

to continued and leadership industry across challenges. we business growth while We amidst our and units expand our changing market trends our as presence resilience geopolitical advanced proving our

are We the new pipeline. products, forwarding with in innovation both and our launched

Our performance, run. way our both term the the into in high-growth the for markets long paving focus enhancing financial innovation on in expansion is further near and and

flexibility ensure capital achieving opportunities. And our well financial now are increasing financing important proceed to long-range engine access sustainable us position when our plan. Our the remain strategically strategic we future. Thank Q&A. we committed we poised into and finally, to additional focus, was objectives strong long-term organic growth a will a and or with you, capital remain value cultivating inorganic pursuing our an in outlined in step This powerful the our to shareholders can deployment. growth help debt in Through enhancing in deliver we to

Operator

[Operator of Petrone from first question Mizuho Anthony line the Americas. Instructions] Our of comes

Anthony Petrone

hospital. and Maybe plasma start on one with

some -- On the supply-demand Are plasma in be And you follow-up Not we're on would to still level a tracking of on terms little Is the a Chris, of the the think our follow-up slower? ]. we seeing we database. inventories? it it adverse wind line then of meaning builds [indiscernible] equation, expectations? inventory of their I'll out events cycle sure there's And coming in any it your hospital. at COVID, increasing approaching ] reports where [ maybe ] Is fractionators reported on with CSL just one plasma [ with fractionator on equilibrium down? update bit, do of the if faster? just in MAD Is [ building where end are is have

Christopher Simon

term, advantage demand year short-term there. to rebalancing quarter. excess in lower long-term With on over look increase at a already think capacity hand that liter. in bit collection and regards with benefit X% a announced combined what And to is therein. In next and long-term called demand from commitment theirs back we remainder do an of the The quarter where anything IG-based presume do can there's really inventories. We significantly in of both some It that's early the replacement see performance increase their conversions folks kind fist to cost by of we our really grow issues to right? feel our inventory in additional been next. to that over rebuild confirmed in improve demand I supply took of a does that at robust, been and of for the for I the quite replenish the everything and collecting it think good We one demand, a estimations, plasma and the for customer per year. vary for fractionation heightened customers' has trim upgrades out of set over course about productivity, the We shift the remains from one therapies see over both towards our commitments. the you and will demand decade centers the near customer's We a specific

device, We CSL, the of that's year. and rebalancing, What to play to There I expect. With floor it aside would They're the say agreement we further would is and I'm agreement according million in our quite changed. terms with regards anything the has competitors' based on purchasing for that leave there's as nothing forecast. in about forward point know to that in that this the don't is that good have going about really $XX where an to cycle. at in So now. feel place on say are the will we still a you

Anthony Petrone

attach bit on quarter on a PFA period. to ]. And another June then VASCADE volumes had just Pulsed-field in Maybe the MVP a hospital little the rate follow-up good beyond [ ablation.

bit And Do of ], PFA. MVP the maybe rate that little so what to at solution? the when introducing PFA will that new And you on get be [ market? a with you of benefit attach Excel rate into look an attach increased the to

Christopher Simon

advent the et imagine, speculation Pulsed-field a market products is of lot time ablation exceptionally XL us. clear, for both a Interventional but see different is, The a could much truly forecast this, for XL in Feedback force in limited And of TAM sure, has product closure portfolio. esophageal changer game that. Crystal as procedures wide cetera. there's being a Technologies consistent net a would the We protection. completed lot What's vascular therapeutics for happening the with market well. The happen. also you We is over spent market. very of of as what for range been a we disruptive performed release MVP of across outstanding. any PFA for positive Haemonetics XXX reduced, don't new has modeling

into get full to ahead the different bit across going right a now, technology with market applications. market we it's release a of of range think schedule the that we're proceed because So

is left enjoyed where [indiscernible] area a is really of not one but success it's the appendage only product so things of not because forms, And lot powerful of technology. base just an the which quite closure, all on the us for ablation MVP right also

we plug larger associated going XL, and think forward. with that's positioned well have market for the really We XX% a collagen

Operator

Needham. Mike line question next the of Our comes from of Matson

Michael Matson

plasma. with start -- Just

of Express the Persona end that person mentioned of the year. the expect customer's you our Plus [indiscernible] you and by fiscal think I So upgrade to

in there's to pricing of there CSL? ] their the part a still of [ is that assume So business, that obviously, kind tailwind it excluding safe

Christopher Simon

upgraded Mike. on both are from that that and product anticipate gained existing Yes, our we part Persona the on North NexSys reflect is customers Express American of Well, the now yes, advantages have their pieces And technological of will Plus the equation. all both that priced to to centers. of

Michael Matson

And then business. just a couple on interventional the

that are completed? reported? MVP the what force, And with you price premium So cross-training that for is then in getting you occurred VASCADE the terms degree do disruptive that XL, think in just the to of a quarter you just And that? that was sales

Christopher Simon

Yes.

We at product command XL of a that. the we premium want one base same-day the XX% price look effective. et a really of discharge, time So But cetera. moment ambulation, to that ago. cost-effective is ]. And mentioned ablation modest be for especially it's form an [ a We is increase. It's plug, do therapy. RF or I larger incredibly economical as PSA to a to now the closure. cost relative It's things There

lift, esophageal In Guidewire took technologies exactly get we sales is It This from anything, you're exceptionally We the sale. classic right? time, that sensor-based technology, Mike, our And And and now in go to both faster want reflection, terms we've closure across good big portfolio guidewire we I was went of going to I'd if this was further training, variety procedures, a a say right. over a right. and protection. introduced force time. think of slow a we are

there right to our involved the are much more think did than The It's fully provide more We had clinicals make the here. time answer is the a to representatives, the and anticipated. role plays managers again, example, able TAVR go faster is both role. equipped more you critical little SavvyWire in nature originally If of procedure. we they critical our support. It probably further and going the and procedures, us about to territory want a to where take sure think much a for of be But slow quarter we now. we're confident for

Operator

Our of comes Andrew next question Cooper from line the James. of Raymond

Andrew Cooper

into plasma, the Maybe quarter commentary on to year. just the back first, last and Thinking

I to X% You growing the non-CSL business, think, talked XX%. about

Express Now you're and Plus customers to more of Persona. talking about those converting

and more So the think just color share gains metric and increasingly as on on how some that maybe about. the the growth would remaining as love seem a well of you little customers update confident about an you

Christopher Simon

Yes.

takes superior of of look, ability beginning And the forces So those two quarter-to-quarter We we and collection looking guided demand were puts expect the share to knew work. build premium over at a I basis. and confident, think because of at amongst the There's a we of them, all back-end factors, on to guidance unchanged we be are new for command year. gains. technology and that left price course upgrades are gains to our at we a going and the the are underlying we loaded. latter Andrew, And share the those combination that, particularly three year,

confident right built I'd forecast -- one There's So our and live it's as to is. both the guidance don't guidance progresses, we XX to good quarter. an If a and But sit where quarter it we of first we CSL opportunity a forecast. the now, practice, into feel we a change quite non-CSL we We and general will. about as the leaving prefer as change want bit. probably the just feel after ago, we it bit for days there's year

Andrew Cooper

hospital. then just And maybe on

from of versus the force think new items low size with year. the the acceleration talked product You've near end revenue the to sales of of in called a of guidance. of that. you you towards contribution teens, the some sort synergies of couple us maybe efficiencies the that about going Can the the us acceleration are guide Again, from really of help for the start help the closer for lower out that maybe terms midpoint to mid-teens about to

Christopher Simon

and America given we T well in engine is closure XX% of particularly ]. account are that across the XXX Vascular [ north of utilization, penetration now portfolio, North the real Andrew. Sure, particularly the within in

revenue called operating the is drive will it utilization, single on as quarter, that to our biggest more that's progresses. let we going I'm in The out, and be driver. critical, product James our year comment it million overlay, margins was there's of this an gross $XX included, margins. income that, actually again, the In we'll the meaningfully to additional goes So that's additional but dilutive accretive the to quarter. slow quite faster listening of we make good They're aggressively we're the level good we sure and what cost understood we a didn't the to companies. they at act and do, wanted their more they go do They're because what learning. process intimate to in on sure that. success further, more how incorporate synergies secret both upon we what's we and make of do, and at build

So that's what you see in the quarter.

year and progresses, cost into synergies, will the what's that's really our As both in and synergies effect, sales come synergies reflected guidance.

Operator

comes of line question Solow Securities. next Larry Our CJS the from of

Lawrence Solow

I the guess approximately. the price, that's just in on if James, the how [indiscernible] customers? Chris, I quarter? available, give if don't couple plasma on just And just switched Persona, then your a adopted much know us or the volume have to approximately the how many or of you Persona of side. -- breakdown follow-ups -- already

Christopher Simon

the that, answer let with breakdown. I'll James start me and Let

more against Persona, the not than We're quickly had In north that moving terms of well of XX% of procedures it's year. secret, and the remainder. big a we've the into heading

right? provide jointly Larry, because but more updates comfortable control, We've don't and quite with NexSys. We everybody said doing cautious this our outset we'll proceeding rapidly, want from be basis the we to a good it's at So when we about it. that, with is substantive feel customers,

in no see And that's you this they quickly, to and faster. results quite what but move will forward. now in to customers absolutely our prepared case, move, We as move as fast want our going are

James D'Arecca

price customers, non-CSL split on out, Larry, and And refer volume to I'll volume. that's predominately the the

more talking you technology about, and expect loaded. we As share Chris to heard back-end switches be gains

Lawrence Solow

just you XL MVP the system, the VASCADE, market then mostly of much rollout And ] not of your the sort and larger on on in volume. So could the [ [indiscernible] speak the there plans? real just briefly side, price opportunity

Christopher Simon

Yes.

very performing that proper comfort, limited reiterate, have testing and devices We We've as limited the that animal really of had sure release. case obviously extensive level we the a but market understood want make to make expected. do we So release, use performance. wanted went to just sure into done good we to it's market

XXX Feedback number I heard. now centers. has feedback been across As has right, absolutely outstanding, said, extraordinary, procedures anything or we've very north a been as as high-performing good of seen of

pursuing as device will actively yet certain appendices spectrum label to performs advertised. forthcoming. authorities, get sizes, expect on we indications that regulatory the our we and be It that use And have with the appropriate. hole we So broad as don't where for are

the release but performing able extensively do into and evidence, even that expansion. intact, a more full be now So when device We're to is broader label to go well. get real-world now we'll compiling we

Operator

Joanne Citi. from comes question Wuensch next the Our line of of

Joanne Wuensch

stage Could back also compression. I want to our that people just PSA procedures. procedures to go minute the a manual spend at then opportunity. are and vascular towards sort you of still manual large impression a moves I'm under there's I of more And this quantify the what on to want closure compression that please. percentage what's using closure device

I think a would think for PSA be of that you be clarification little better VASCADE really why of XL bit could great.

Christopher Simon

vascular in combination figure of Yes, our is competition closure biggest compression typically. and suturing some worldwide

as said, more I of of sophisticated manual folks looking converting in that's opportunity procedures XX% penetrated, we've XX% does compression of are those, off the technology. U.S. [ superior the within that or more to T mid-XXs. single our XXX our utilization the are rates we is biggest And so ] -- our than clearly low the to still And in suturing

forms aware approval, or of challenges committees, lab way EP the cases, incredibly may the terms value-added account, the meeting? to outcomes, in use in just once account underway. When in see of We one is use then with And that some adopted. And their a that And after work you closure sticky. the can cases set that's to do hear a so economics we satisfaction, say Do all we It's all are have cycle through overall. we is terms see what's what we hears they're and there within process a of that start In then beneficial that others. some our able with fact clinicians accumulate procedure, using an the our clinician we've of has volume, that, -- the VASCADE the technology. penetrated in patient It's to we can hospital the how see it they when for the clinicians still staff have one that. they nursing device. better that's have to

really it's So of and real-world checks all we and clinically, support evidence, it that economically to better have body an evidence boxes it's increasing better case.

done regulatory to good market it. With for feel we've the approval. extensive regard PFA, the to we brought about testing We MVP PFA. we quite So got animal before

As before limited and in the just is with Does answer to we what wanted roll that market use do I mentioned on to proceed before now, your experience make call, question? last our we first-hand case which out doing we're broadly. have sure release, a we

Joanne Wuensch

close Thank It's you much. very enough.

Operator

line Our the of Petusky Barrington next Michael question comes from of Research.

Michael Petusky

you would about in active any a share? vagaries country penetrating in talked you Chris, of closure and quarter, bit progress for learnings about around and to be just terms differences any country reimbursement I'm vascular those markets little also methodologies. been in treatment of talked from accounts to has last slower that of had some Europe interesting in some in terms of Japan and I think wondering, about, sort hey, talked

Christopher Simon

unmitigated the medical device And a been see The been product. an only Japan authorities, Japan the really safe So in very is incredibly but able that release they not there data has to VASCADE helpful. and is regulatory you market in favorable safety-first has VASCADE have were reimbursement. We success. always an markets from secure market

from just as challenge. So in through a story. been I to the market. us there's would more is U.S. mixed really, We reimbursement have That additional are XXX the the We're work accounts benefits a now. a vagaries And Japanese third-party reimbursement in has same year delivering continues for with The same-day the go progresses there. Europe that There it excess doesn't think strength. that in the upside really we're of strength some to discharge have reimbursement distributor.

that, our it And team, some working sales organic hybrid way distributors. of appropriate. but So a we're there's work changing joint model through with where

in profile. confident I'm the the very success. So confident very long-term in

suturing benefits as et discussion the primarily is compression discharge, does opposed time and cetera, nuanced. that more market economic and around a some to from converting therefore, are to of We the

We of to going is just which that build, we're experiencing. be have slower successful. a what we'll be a confidence lot It's

Michael Petusky

not James, any excellence you may And about from the any or chance? I impact it. missed quarter, mentioned have Did operational by talk you in may have this

James D'Arecca

quarter, the In through, the full was separate in I quarter. amount for from million $X drop didn't with total and out believe anything $X break the we year the million

Operator

the Chris would remarks. like turn for closing Sir? back you. now Thank I to Simon conference to

Christopher Simon

addition what a customers from portfolio, geopolitical are unlikely away in liter and in NexSys, to upgrades, way for Again, you it there's headwinds terms across your along. hum per TEG the you we cost the some clearly and really we our I share and is favors terms China, results additional start inventory proposition, If are we accelerated our progresses. [ ample to rebalancing continues value seeing they're there of take this of get three the thank through, our diversification as our we're amongst hope There having particularly short morning. ] I year value to that particularly resilience of that anticipate working challenges, with resolved all time term. our our in drivers. supply, and gains in saw in the

And North against the original particularly with part that of but a markets much work positive is a really of was fully earlier, sale plan. the of have that And really will all the in is much America think see sophisticated We disruptive also largely really find you'll and then XL. delivered. plan launch fortunately, it now a committed that. And integration strength And that's completed PFA larger that the Interventional out EMEA, the us, long-term forward and influence net continue is Technologies, both very positive and energized team to as I called the its we market. we at training MVP move footing highly a portfolio we've and to it. delivering with I and for in had outsized part more that team

expected, value as external big our of as portfolio. into go So online think rest of those we're own. the faced excited the what back even from able across with we our quarter challenges when drivers, I'm those do And the in strength. we to coming come three to I each three were strength just about

I thanks for the appreciate this questions. the morning. time So

Operator

today's concludes Thank for conference you This participating. call.

disconnect. You may now

Haemonetics (HAE) 8 Aug 242025 Q1 Earnings call transcript