HAE - Earnings call transcript Q2 2025 | Haemonetics Corporation

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and thank you for standing by. Welcome to the Second Quarter 2025 Haemonetics Corporation Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker, Olga Guyette. Please go ahead.

Olga Guyette

Good morning, everyone. our us and second Chris webcast. I'm CEO; James joining XXXX fiscal Simon, for and call conference joined D'Arecca, you for quarter Haemonetics' year our Thank CFO. today by second This morning, our Relations guidance. along website, fiscal XXXX XXXX our year results Investor fiscal quarter with we to year our posted

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

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

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

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

Christopher Simon

reported X% our growth a X% joining. Today, second by quarter reported Year-to-date, on revenue all and revenue primarily we Good million, reported Olga. was for thank $XXX growth and and business. Thanks, of you morning, X% organic. hospital of X% driven basis organically,

XX% from share were per an the year. prior adjusted of increase quarter earnings Second $X.XX,

our long-range record plan. executing our financial progress and and agility growth performance speak to Our our

our share center plasma attractive and set markets. the in hospital presence we with expand successfully to rapidly and gaining continue in collection, emerging address trends newest technologies, while industry our We accelerating standard conversions

deliver significant and growth short and customers long value profitable to stakeholders. tools in necessary for to the and the term have the both and our We resources achieve increasingly

our and are growth range better for anticipate X% X% fiscal momentum flat reaffirm growth the raising total revenue an from and forward. We to up previously. the organic X%, our have even to expectation guidance X% in We to we to of X% performance going year

now year-to-date, unit declined and year. last America second and transition. year-to-date results. Turning revenue business the periods our in same primarily XX% disposables to CSL's to the revenue growing in X% in planned due Plasma and declined after X% the quarter quarter X% respectively XX% North

as by upgrades. revenue CSL, more technology Excluding grew premium offset declines volume in pricing from than were

Europe was revenue NexLynk year-to-date, plasma as the and on quarter transitory collection market. only We customers have support growth. we momentum readying in is where continued to provider XX% fractionation additional show XX% share second as are to DMS, Software recent an volumes flat U.S. the well. strong of pressure grew and driven believe DMS offering collections additional platform capacity as independent the continued by upgrades, fuel

operations and equips platform increased throughput. more the them to efficient NexSys through center enhanced optimize safely Our yield tools with

remaining U.S. of body centers. market strong the centers gaining complete year. of using fiscal upgrades date platform, to NexSys these share collections supporting across XX Persona than this accelerate competitors' the and real-world also enhanced are more and technology expect are We and evidence opportunity a million upgrades we NexSys superiority to this to With the converting

customers from the We inclusive over have fractionation intermediate of CSL. expand End this 'XX X% near we year. Blood next and of guidance to revenue million of forecast, to contribution to and the plasma fiscal worldwide. reaffirm this of driven declined year-to-date. globally driving expect demand share flat our and partially through the red and and second the we year. Self-sufficiency year, a updating customer our U.S. guidance X% to by year customer strong demand decline declined strong sales approximately by cell range in for to strength and strengthening meet in half in the second plasma half to X%, quarter Based Apheresis on in to the a plans to more X% X% Whole collections, the rapid into 'XX revenue to first from demand. We versus the was second plasma collections are years year of share remainder Ig decline franchise quarter Blood Center full in to grew we X% primarily expand up decline, term. in several gains we $XXX the the capacity a this next source on return for in continue X% expand and market that margins. quarter prior continued quarter international our an fiscal the are of NexSys therapies X% foresee will remains capital global large a our second the previously. performance, relationships rationalize offset fewer Based gains XX% is of year Center in as first Blood X%

XX% the the Hospital. year-to-date, by this XX% hemostasis that global U.S., cartridge and sales the and quarter patients, quarter, surgery the in in neutralization heparinase in U.S. Technologies particularly organic year-to-date, momentum, attributed and the heparinized Blood adult in reported of improvement managing our with driven Much is by respectively. liver and success Revenue an a driven new clinicians aids second strong a transplant. assay grew quarter utilization. capital growth CV to device grew to fully XX% of and increased impressive on XX% and Management EMEA. In second Moving both XX% basis XX% TEG growing XX% in in

in presence for device release, been lower-margin diameter, declined partially devices, grew regulatory globally. revenue has Salvage patient and in for less product growth by and in months, since Success design China. atrial of new VASCADE field fibrillation appendage is accelerate as to the in than in of similar initiated openings use nearly half leadership ablation was efforts MVP we disposables and in increase benefiting to the growing the appendage Transfusion -- was XX in both our and French a enabling prior from periods. Growth larger while expand grew in by away and U.S. of diameter we in offset BloodTrack closures. In XX% procedures game XL adoption other left SafeTrace expanding and U.S. with technologies than treatment strengthening pulsed Technologies expand year-to-date a this VASCADE second in plan Closure XL workflow French in had the market where successful XX% across participate this existing ablation accounts, to order enabling launch. With rapidly With atrial growth organic to year-to-date, on in to America capital market further VASCADE to basis, double-digits up inner current to the have accounts. adoption left to introduced minimal driven shift quarter X label us our halfway collagen challenges the closures continued and as plug reported changer, the through access and launch We purposeful work such outer in our the quarter atrial the internationally. Vascular in underway in a account this full XX% quarter. was our XX our second market MVP XL the both largely Tx a from MVP and EMEA. Cell of North XX% management Interventional by offset more timing

rates this half business We in of strong the overall in this growth uptick our the with line second XX%s are an this seeing product in for momentum utilization success MVP in by fiscal improving volumes. and high and procedure expect be XL, to driven

newly and million million revenue in acquired revenue year-to-date. a of total Our in delivered products second in our quarter $XX $XX

XXX the our available opened progress accounts, expectations. XX with significant cooling centers Enzo making is new esophageal the more having device second in are line with across now quarter. ETM original We in This device, than

electrophysiology in confident acquisitions financial commercial in the of also real making interventional to expand are as these differentiated realizing progress foundation providing cardiology in information for and advancing in-situ time is hemodynamic structural distinctly our build overall We in solid we with measurements, procedure. We TAVR share accuracy benefits and sensor physician and crucial sensor-guided the the further workflow technology. our high improving SavvyWire and heart. for market time pressure a remain over with a

reduction up our range of newly a to products, to XX% basis to reported guidance XX%. of resulting market XXX TEG midpoint X XX% expect the MVP XX% have for guidance while at growth the in neutralization the to We adjusting heparinase the from growing opportunities Hospital the expectations raising launches the organic and to Enzo revenue and XL, our meaningful of accelerate our our momentum ETM business, driven light cartridge, by XX%, XX% of a growth we are in acquired of technologies. In sensor-guided revenue points previous

'XX discuss the reaffirm I call rest value I financials updates the of our our through to Before our over fiscal to sustainable, shareholders want and to our profitable guidance, delivering commitment LRP and hand growth. our to James to to

needs Our product investments are significant our increasingly unmet positioned competitiveness. and deliver to our on is commercial portfolio strengthening well

we will this in dynamic We short- and our achieve thrive are confident and goals. environment long-term

opportunities. to be complex resilient. to adapting a We navigating emerging we you. market lot trends ways over and find excited James, are deliver to We're challenges and We and have to about.

James D'Arecca

updates rest and Chris, to our with results fiscal revenue, financial so has guidance. already of I'll everyone. discussed you, the Chris good Thank and continue 'XX our morning, our

Having driven having is improvements. In impact and approximately gross second expansion Year-to-date were with point improvements across contributions XXX a an increased margin XX% of business, trends the basis followed headwind an up efficiencies. These up X margin from 'XX by we year. with with exchange. the manufacturing points compared points on XXX basis evolution finished our this approximately additional improvement delivered fiscal XXX points sequentially, the reached sustainable quarter, and Our reflect basis business second foreign basis fiscal year the an XX.X%, adjusted portfolio by partially gross mix, first from adjusted margin similar additional driving XX%, when from of all prior months price story. offset of of units margin XXX volume by quarter

compared in an Adjusted or with primarily by driven the momentum we expect further were in expenses X% higher-margin Looking our operating in and million, million second Hospital business, savings Plasma of of business the $XXX.X second in expansion excellence our overall increase quarter prior the technology ahead, increase margin operational upgrades throughout quarter an program. from 'XX, year. $X.X and incremental fiscal

revenue, growth revenue. The operating the at the with investments additional compared expenses increase operating of percentage year in year. XX.X%, inclusive the a to income XX% year-over-year, million our of flat XXX exchange. up As million quarter was in $XXX.X XX.X% an of increase and sequential foreign XX.X% increase million point compared $XXX.X basis operating operating OpSens an million, headwind last from were expansion $XX from the same operating months revenue. with Adjusted year-to-date was at or a period XX.X% Medical, by expenses were XXX income when momentum. Adjusted reached approximately first XXX basis of X with reflecting million second support quarter of primarily of in of year-to-date adjusted point along up dollar acquisitions at to $XX driven point expenses Attune $XX.X revenue, prior the the quarter, in a and the million, and basis prior adjusted $XX Adjusted

XX%. This operating fiscal this more expansion guidance portfolio fiscal we due allocation. and in half operating than of of impacts margin our efficiencies the our guidance pronounced, of 'XX, increase We our the XX% operating offsetting reaffirm clinical margin to continue fiscal additional anticipated expected quarter and the investments periods into quarter more expenses expansion is to the tax operating the third work through anticipate and adjusted reflects year capital needed adjusted respectively. becoming XX% adjusted year-to-date shifting improved the into continued rate year, of from move XX%s. XX% As second of to margin our in we disciplined year our similar to The mix, innovation. This 'XX the rate adjusted operating reflecting in range in improvement fiscal increases set We in high in teams the achieving a to same margins XX.X%. tax 'XX help full be in was the tax quarter adjusted for and year and the margin prior second income as groundwork at will around second rate compared XX% with XX% expectation towards

quarter income net up million, diluted adjusted when $X also 'XX. $X.XX, or XX% and with of earnings per was quarter compared was Second up second share the fiscal XX% million adjusted $XX.X

income fiscal million, $X.X tax income, the share net rate, in impact and also half 'XX. The the FX First or X% diluted $X.XX million count X% of a unfavorable of a second adjusted months combination year. We're $X.XX. diluted had enthusiastic share earnings range revenue 'XX in when to half when year-to-date $X.XX modest and net adjusted of quarter fiscal income adjusted was up with first interest performance the prior was the updated per interest compared $XXX.X in with up the changes 'XX $X.XX, to in the $X.XX first X in and per reaffirm about the our compared impact and unfavorable with changes of our mix guidance fiscal included be share our despite of the adjusted earnings expense, guidance

we move Before to existing capital update million repurchase an we share-based million shareholders buy sheet This our an share programs balance to of repurchase second buyback growth authorization. In expectations. opportune agreement offset discuss related return and from back given some have time helped to at allocation. and common quarter, I additional previously entered stock flow, to announced our some on dilution our compensation capital share accelerated cash into an share under our $XX $XXX

million $XXX continue be authorization under we opportunistic the to share existing have and remaining repurchase additional We buybacks. will with

by Moving activities to million X the million first from and of of same $XX.X down flow. $XX.X last 'XX. and cash we flow cash the provided balance compared operating fiscal $XX.X year in on period sheet of fiscal $XXX million months free in In the 'XX, with recorded million, cash

attributed improved an increase, significantly working the were to offsetting factors, we in in the The can which inventory including and in continued of by were technology, performance-based working the previous income. The overall inventory certain in 'XX. compared settlement first several transition additional quarter bowls and has and levels. bonus flow expenses capital net increase improvement new the fiscal higher devices increase to levels position in cash specific has capital our of when 'XX, first inventory including inventory under an year for driven and While customers acquisitions. And disposable of quarter, since plasma also includes operating paid timing to payments which recent be bottles, out latest the of continued finally, fiscal low of our from payments receivables, to legal NexSys both our critically

'XX, transactions a our for no to our half million. Cash to $XXX.X expectation We acquisition the recently of debt the by this and our Medical of and the debt reaffirm end year. up improve capital the quarter Attune our partially since the of fiscal to fiscal year earlier flow our the share end $XXX of following offset to structure primarily free in on due $XXX There and of to expect refinancings in was we completed $XXX.X range buybacks. million, second series be million completed at made 'XX working were of further capital cash hand fiscal changes billion

ratio facility, million debt no on leverage of approximately consisted Term $X defined and billion by net Our EBITDA revolving a facility. our convertible A tower $XXX Loan in X.Xx outstanding of bonds, borrowings credit credit in the as a resulting

I'd Q&A, our takeaways from remarks. to for provide the call opening like key Before some

we and expect our solid this second benefits the leverage of of in plan growth increasingly a set final foundation year to and targets more impacts our volumes. evident our latest to growth to technology short-term results. In us to in ex-CSL share, and business customers allowing this win upgrading deliver despite in are remaining collection continue meaningful the to half as our intact for become the installment long-range First, remain mix we financial Plasma, LRP

to our and return growth to collections sustain well market historical share. through levels, ongoing are we positioned growth expanded innovation As above-market

business trends. to trajectory its outsized dynamic positioned is Our Hospital amid growth sustain well market

pursue all to fiscal through achieve opportunities we with to by we in accelerating up leverage nearly operating and the of as available today shareholder products billion capacity scale. And billion and to reach our $X finally, our opportunities dedicated expanding will projected enhance returns new $X.X unlock the of are 'XX. and We actively growth relevance to adoption grow end

We Thank and deploy its the are and for company repayment, opportunistic to both share shareholders. positioned additional investments, M&A, well maximizing for organic buybacks outcomes debt you. capital

open for We ready are to the now Q&A. call

Operator

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

Anthony Petrone

have print in sites to anything that electrophysiology on a share follow-up States you those remarks, the walk Plasma. XL mentioned dynamics your And start I'll the XXX XL of again, XXs growth the high have on I'll follow-up of and more VASCADE, on United here. have And second target second maybe Chris, then MVP half the in pricing you this Can in the adopted you device? the trajectory. What's half Maybe, point? there prepared plan for off Plasma. on in rate with is VASCADE I'll how the penetrating sites? off the a Congratulations predecessor at versus good can kick rollout through deeply year many on just Maybe Chris, of

Christopher Simon

Thank our technology, a it where disruptive the and Clearly, you, We in influence us a put results has truncated with Anthony. had so front market limited PFA, that the market on lot foot We positive the see was The product's in release. introduction unfortunately, were of and we of back closure. did MVP you first vascular results overwhelmingly fantastic in XL that, for quarter the because setback our us. performance. confidence

So exactly us, we the through launch. began quarter mid-August, the halfway for

in this XXX for left is We limited through at atrial are functionality market of and ease previously. really appendage both in and we to the our in PFA didn't what included top of we accounts. market fully release Again, penetration has use been experienced now, of in time, which for similar very closure, XXX closure, a and the feedback AFib terms point for have

nicely. ahead moving we're So

had growth. the high market We year the talking been the would penetration. we through continued in been the about because already it if which on will it we've have mid-XX%s of be XX%s half of XX-week how we about second think period, at from quarter, in look In is just today, the fact, that if been results long the

on value XL In clear for pricing, the pricing terms XX% definitive innovation MVP value we that. It's There's price of to a proposition tend larger our in plug our of all a and reflects the collagen based and proposition. market.

margin the as As launch. half we to the there we'll overall be given from just benefit year, realize the second closure the our it certainly, accretive this over But in where that business, scale It's that gross is well. not of business. will today

Anthony Petrone

of pricing Very there follow-up at, weather getting exclude CSL. maybe just Plasma, the on we through I'm CSL, really, to the dynamics was Chris, And helpful. parse IV And base maybe then what volume and business, just and if excluding that shortages.

volume trending? is ex-CSL in how the So plasma versus business price base congrats. Again,

Christopher Simon

Yes. Thank you.

liter. And Our a non-CSL for really prior latest foot saw not there's to and end the in manage commitments The we value the upgrade if sooner. X excellent unexpected. this market as And the us years, traffic mild on proposition now to customers technology pullback business, to fiscal complete such volumes, software it's growth and across sustainable. a year, our using by integrated total the of we center. largest clearly support not cost rate our over the we Plus into opportunity per is U.S. know not are an have and on that's Persona for front device this enabled our collections NexSys Express that where The with will the customers the platform and NexSys is manage And all of lot inventory centers. and to

and benefit As plasma better we driving well. faster the that's throughputs, seeing are gains share upgrade, yields as customers

demand but which, and that We actually product. grew we excluding collections. superiority reflects revenue, not platform CSL the on of grew the the just the the pricing the on for on So the again, it business, business,

into is business. remain are plasma all continue for 'XX, share So very meaningfully that margin The of as bullish. gains accretive which They'll speak. our happening FY we we

here feel the we So done X next and about over we positioning good can our what X to quarters. quite get

Operator

Thibault Our Marie next comes from question the from line of BTIG.

Marie Thibault

think really a jumps, investments of of cost you're jump talk in you help margin, you think did the good here certainly some year. fiscal the yet more being past teams. for we talked making metric, us nice I of had I on held second cutting about operating more that about to the the the be know about year quarter. top if bit in doing? some guidance. guide the to the getting Congrats your end Can adjusted you larger expected, clinical little we than we Should about we'd a rest you're more increases wanted start a incremental? Certainly,

So bit behind little and happening help cadence about us actually think the a scenes. what's

Christopher Simon

Marie, I'll start to it out. finish and I'll James invite

margin pleased Fully improvement business gross at tend We that overall We with quarter. the business quarter a business. is XX% in of to are the roughly run gross in and our second operating margin. the Hospital-based XX% margin

our the expansion. As plans that's entail, really driving

beginning advantage to overall. out, I back improvement. was FX NexSys able That's in So fulsome the of the for called guidance with business we to delighted in explicit and our well. transitioning we pretty share question, the and deliver a to really we're to moving plans and is themselves We to tried the of that saw much And points range and got basis investments points our opportunities just mid-teens as midpoint of James XXX do improvement. gave that year Plasma, when and close XXX where what a the There be Express just gains mentioned the be XXX all some at of of we in we're customers. Persona earnings which taking of planned on largest the basis called of year, our market. Within still it, the below headwind us have guidance migration meaningfully the our have about one as the year-over-year that margin growing presented has gross Plus prior us

and we're James to I'll the detail. delivering ambitious it, original in the was So we pleased fill felt let the against year for but guide be appropriately

James D'Arecca

thanks, Chris. question. And Thanks, Yes. Marie, the for

to continued Chris we of really progress continued the of quarters cooling the mix mix remainder signals continue and for in X see quarter will profitable quarter. third more likely positive esophageal story the the full very as And for being sensor-guided the mentioned, So second year. across business. Those throughout operating XL, momentum TEG, year, flattish us, MVP are with all the continued of get reason our team be Plasma technologies margin-wise the that commercial set future clinical foundation to growth. IVT is spoke quarter, the see build more within out fourth guidance to of as for some we a bump for just and to about bit range for team the right year to investments then then and we operating time we a continue finish that up Chris our the the by And will our which Phasing-wise, margin. strong and a

Marie Thibault

and That's in $XX on really I here Okay. Maybe from my this products helpful some good quickly the to of million follow-up quarter. acquired that heard revenue hospital. hear. in segment

of was the with a I a And rollout bit it Attune OpSens I the you tell and guidance. a what's noticed the nudge million bit happening quarter. $XX there? Can think and little us on down products last

Christopher Simon

Marie. Thanks, Yes.

structural stories So those in we versus Very we both than electrophysiology different acquisitions. remain obviously slower in on otherwise of bullish would It out the gate want. is heart. of

we're EnsoETM fully of for is Attune, for So PFA. And the aware challenge PFA.

modeling has the of actually needing more either. share Our market they're PFA taking slightly

RF, there's on Enzo has as at our been time. in to versus of forecasting it business. XX%. We are the still have in -- for that our now the are attractive the PFA The had companies delivers role leading PFA those most get and Some the half procedures approaching closer for done EnsoETM first no nicely rightfully, this players model targeting XX% challenge customers

on we've backwards moved So those.

of XX to put at finding bullish. exercise accounts users we in that's now the volume. And tend opened to for remain an be and RFA the be kind landscape, have If context we going and navigating I to new why continue then it I us. We think

over ETM have If on on X invested to XX%, We X-year market over call mid-teens, capital achieve return closer that today. will that next the X% it, are drive able closure of the years period. Enzo roughly we mid-teens to we the

is aspirations XL most RF done take So what It Candidly, them both PFA in is are accretive we've the not with having time the that's acquisition think navigating. field and force our and the puts appropriate. They're this far will our front by and overly and center in bag conversation, ambitious. users. we

build like further the time. Structural and go we're closure. faster switch heart Sensor we Guidewire what meaningfully to direction that's and So over I of business, of If to going OpSens there. is the able example a travel and classic slow different to than over

against bunch for that's on will we we the But part our team, the over the have we clinical business. be in envisioned out presence the time, learning for that investments to. instance, execute a remain that ability be that that TCT, for second us that's half guidewire that curve, to optimistic of the for We and the just and I week of building sensor-guided able of as build-out. James we're and part center think sales net we So last about use things all there's talked coming and had of and on need positives strengthen year But of capitalize equation of technology. curve our to presence. will the what we

launch. It's come. purposeful So about more optimistic. thoughtful We remain just to and the being

Operator

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

Lawrence Solow

markets continued really I market U.S., you growth which both just just mentioned guess, I TEG Chris, strong on on of U.S. the TEG? in and then and obviously Perhaps going kind in you the the those first XX% give us international a challenges directionally see -- could little you where on is the question, know more there. China. color

Christopher Simon

site value cartridge XS. TEG the now for is positive a heparinases the the of neutralization We Having expanded because TEG really real at puts med XS proposition joke it's product in conversions in products internally, accelerating absolute oldest real us. -- the of the to but it for the remaining launch It's tech. has application. parity, development care like XXXX TEG

powerful, really that. driving So

in in You mid-XX%s see the both in that the U.S., XX%s our now. in and results, Europe

is something that different China build we challenged. can we're and about. We forward. is So right? China excited that's carry a think that upon story,

Center challenges about pretty corporate which is not from much way XXXX heard cell meaningfully of all Hospital. and salvage peer our going second work really don't it in the our that to X% the split is Blood of between change TEG, TEG we half But revenue, there XXXX. We'll our evenly mostly TEG I'm to our split -- it, You've business. into many expect and it's right now roughly China companies. pretty it go And facing it's and are the through of pricing-related between year. to Blood no Center, over evenly context, to there's the detail put easy Within there. answers further we're but

Lawrence Solow

-- Got to it. just And back just VASCADE. on switching gears

-- perhaps back driven like the in some MVP? sounds by How and performance still doing -- there. just hanging lot a still how those You of half be slowness mentioned those the still it of growth -- MVP-XL. for in a VASCADE QX lot QX, little should of they VASCADE considerable after thought me. of the the of obviously, excuse you Are acceleration about year, in a Are would and room a growth bit in

Christopher Simon

using the closure accordingly. some. And effort, performing disruptive. thoughtful. go where across can in in point the Larry, and did and that's the Yes, in pushback launch of the we regard regain room. kind here then appropriate of helping that so we've there's of the very It it's then the we've electrophysiology. see some is lost this the using they're everything tell sales lost quarter. sucked we MVP clinicians oxygen you think any entire quarter, and coming like And share product I MVP in And What we step planned. XL and in been And where XL third do PFA the on regained largely line. targeted being spring has other first at sitting as that's I all They're out to with

lift across all move we're think the momentum anticipate X second half. seeing and building that I yes, a as into we we So

Lawrence Solow

just And Great. just by some in, question, gross it. of expansion us James, the like could you of kind by It margin. I operating guidance looks and half this cadence last then quarter, leverage. Got was operating the if gave half squeeze on good

how also do you back we of year, at that back uptick. look the As -- about sort little gross How QX? of in a the in kind margin in we the nice you Do year? feel margin sequential of do half gross just think had is of flattish the half

James D'Arecca

Yes.

pattern I follow, the gross will operating margin. to yes, So a would the say, margin, similar

a then as bit move forward a the rest You'll in QX in and QX up come see of little it bit we in year. more the

Operator

from comes of Craig Securities. Bijou of the Bank question next Our of line America

Craig Bijou

like, want think it's think some on Congrats sense launch, do Or it other I label when that label kind expansion procedures? to with quarter. not having on -- you just for comments to XL, get now And it your that your access a gives or wanted how expansion? about needed? maybe that forward have what something of wanted you guys drive can you just for to full pushback and is label to expansion. some can Or start you strong with the launch the going maybe XL of VASCADE

Christopher Simon

that lot percent completely a Welcome, because they a closure. XX% From that out us Craig appropriately. XX-plus remaining way PFA, and I thanks for getting one have that's is is left where a of appropriate. limited obviously product it the our MVP of release, is bit is have that's position we or question. vantage in exactly we And new XL consideration for see applicable can didn't more getting point, lot highlight was can't a that that XX% the That's use atrial it testimonial. They'll really the is appendage where breakdown -- it market gate. thing the in the we detail previously. And -- of what or physician for We saw

being very mindful usage. building about the and we're so, And that

ahead We the see think term, and it good will the it us label the a the market of opportunity got product uptake label we've And of further it's priority thing are I on off-label. judgment to over reflect promote time. In expect corporate of use reinforce we will and do. to making we Obviously, continued the the appropriate right a because near clinicians. the and don't behalf expansion

thoughtful we'd So really be that. about

Craig Bijou

longer-term That's to VASCADE. XX%s back opportunity are guys it. Got Obviously, you that. a helpful. for on growth taking a half, the second step maybe picture the return and in expecting high And just big

high You growth 'XX. guys in XX%s had

think are guess, we XX%s be profile? should 'XX profile high thinking what some about you that VASCADE? of penetration for longer more the And growth we couple business, of years, maintain term, next when over the can the that in opportunity growth of about So of that 'XX, assumptions, the I terms

Christopher Simon

really the We know with. what grappling we're and and something It's TAMs underpenetrated. remain are significantly Yes. robust they

and continued do to that be the a That per going we become holes the are the There to There's the as high holes. We it ago, to by adopts to of and that from growing At math per here. that. What is market how looking going some at XX% will net That when approximately don't coming growth, day, just we think the positive, where experience X offset Xs, a less the we reduce model was look have So That be is offsetting market annum, We're procedure. mid- if want initial is certainly powerful you accelerated growth we is over were about Craig. year X.X, grow years X achievable. at low-double-digits. really right? market. closed, describe modality to function our growth X, completely of printing end we market down in of continue we to effects number the you XX% that to the the PFA. a unrealistic were at the is dual to we X.X X.X were

closures lack we're there's right? I growing of procedure more mid-teens the in procedure. than better, Now volume That at the offsets think or forecast aggregate current XX%. have per

ability internationally development of there's ablation a we opportunity. into as of more Japan, having really I front, broadening Part closure is lot of the a described, as modalities Now other VASCADE are for interventional now. and pushing of follow with PCI. We other and right into it, application. MVP, market the example, help the PFA working this having venous. down shoulders us an us expansion the geographies. call for It think having it's hot Part for market, plans smaller will XL,

think spring. to year the interesting next going we're off until what's on to happen there's good and back fully So in able really foot we front We our very on a guiding feel participate market. good ablation exactly run. we to hold room But at point, this

Operator

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

Unknown Analyst

we Center. Anthony up to has for gears good in thoughts forward? switch last Blood a been Blood to the to quarter way I business any think continue nicely pretty this rationalize is That about more Just Should stable Center whole quarters. is the Should for going stepped quarter. blood on margin over expect you expand we just business? a profitability as bit it Joanne. want -- on that This to It about forward? going margin think this volatile to few

Christopher Simon

our Yes. business source -- or our our Thanks, the that Anthony. we doesn't plasma have of Hospital Plasma Look, businesses. or growth potential

improved more announced forward a the for looking ago rationalization the the we in really and separate are mode of as has described. filters for that of it whole out contribution, component say. I you us play a going optimize into you We've margin as business. than asset just year profit It's expansion So a are would it blood business. parts. nonstrategic we X nicely, now which to There's exactly

with migrating Blood Apheresis in self-sufficiency. NexSys customers X Apheresis are are parts. our Within plasma the source to plasma which splits remaining customers of the business, a actively Center drive to Many, we platform. many partnering our business, collections is There

throughout and You growing it's the looking in example, Middle East, more Center, plasma of source Plasma Canada in see powerful more like happening in the operations elsewhere That's business. more the and our for driver it's a more Blood but and and that Europe. but also Apheresis

it's the price Apheresis, the technology red we've use accordingly. lean technologies other and very specifically. And that On into it's remaining courage other cells. the had to business, Folks those of our and the platelets part

contributing is of But through to the line. is mix price it and this the LRP to all active previously. we rationalization. part broader bottom that so the our which all It's top line, of part an outlined And not contributor is meaningfully

Unknown Analyst

you're then you business, on versus don't color XX% volume? out. of heard was of any I pricing how that this quarter management of new And how if was you Helpful. know much this, was on touched that the utilization that give it rolling from I up just on hemostasis can assay much growth

Christopher Simon

Yes.

a the it in heparinase U.S. neutralization been that the and real So driving for cartridge we're has catalyst business

due our to it bring will markets in course. global We

So cartridge quarter. suite much the to lab-based full success available. of that is the from It because really also the rate growth for that something care, both user-friendly. And TEG out it's a is makes the is behind driver as single swap more in TEG moving XXXX capital of that mix we of device XX% application a X utilization site adding opportunities the

we seeing are to I again, those we're and of both think of -- had cartridge, it things prop the and given combining at feel is response. market price confidence value margin, a just we higher the the the the So accordingly

Operator

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

Andrew Cooper

of mentioned Maybe complex a being we see what and around of what look just learned want on that bit just bit -- And selling bit a a an when that you it thoughts than initially? investments. more how love kind maybe some progresses exactly you kind you've there. as would can about those being example of little of start little at of and reactionary And to as OpSens first, I do somewhat Can sale we to clinical appreciated maybe acceleration like? think give should to as of more you touch sense a look

Christopher Simon

going market it their would R&D reactive. prior Thanks real And those the to for expand helping When learning choose we over as profile did we've and months acquisition we're question. prop guidewires. what their the and sensor efforts OpSens, to the sooner commercial that of accelerate as ring-fenced the bring X to value and efforts. -- bought time we I describe we spent

all on earlier for how and is well what about this our applications sure example shoulder opportunity of closure and over family shift the business more of each offerings application. I on with distinctive the previously. talked as the to little do as talked of we've we I broaden So in products for use plan case VASCADE we the would example. do sensor Plasma call things we're that's and for broadening for making guidance into we're are our those doing less But real by a our and there. the part was EnsoETM think there's models, year to there's all guidewires accordingly. factored deal the straightforward

We the have upon to intend share. leading that share. leading build We

of disposable space and either advance opportunity be more not-too-distant real having How showcase the the to or the innovations it's S-curve whether game Day be where well. of an them integrated an customers Investor share town. because where with building next with some are we lots require in their have future, more we're we'll that we're software, that the probably -- create our the does in leading in We to and as operations? think Day particularly these valuable investments. And or all to the we that of upon do or dialogue that really down we sit DMS, And our R&D have we to hardware about only

Andrew Cooper

up build and Okay. update curve but early as Great. us any for and That's VASCADE the interventional where there maybe more you still launch you helpful. presence? Maybe days, just on one. international think give overall? Obviously, how in XQ that and maybe in for one sense an quick are operational that you XQ the we what continue about contributed to the Can

Christopher Simon

force, strengthening sales clinicals. expansion for we're lever Yes. U.S. and us. of both International of and schedule with important an label like our technologies meaningfully -- a feel there. is interventional is one I'd plying the at We along geographically. we of are There ahead field highlight absolute It as expansion really is for we you market. that the to that into enter secure time and where hotspot market were release us. We see the favorable set forward able market depending on an Japan reimbursement in different

different So that's much compression. than been a there. They more more a modality. go. ahead schedule has We're suturing well build as There's contributor. we use Europe meaningful of base

and slower continue country continue have Japan. the we're about we benefit going also we clear expansion, is have saw by efforts -- Andrew, how And and U.S. uptake our commercial country that's going. quite to to doesn't It that's and of the plans reimbursed. X of It or same challenges the to that our but We we currently that work lean in will regards same-day with in that rapid but X in previously talked longer to international it's the earlier. Europe. We're of in. part clinical there's investment the some the in But discharge James drivers, confident through value, term, it's meet that

Andrew Cooper

to if more can, going shifting to in, I'm I just sneak one And Plasma.

give of sounds us it have the you talked some ongoing. You gains -- for like sense about share Can sort you visibility.

over from So can what we this it's whether gain those of give the are think about with centers magnitude, coming next, ex-CSL share how the for sort sense quarters? like a of number where and business of or you call look of kind that it, can handful

Christopher Simon

Yes. customers' accelerate. possible We'll move as our to on based willingness fast as humanly

device as any points we think time. in the then imposing transition at not of so yield And the all door-to-door a given enhancement on for of the large out. one one need customer different And Plus the time don't sequence. profile and additional in ago up DMS speeds donor's talked some it businesses. with that I because the the software, we're That's in they've share. We picking very way the Express do the with to We it software, go margin been kind price clear. up decidedly they the even plasma unrivaled. makes tandem that's They in our way want time add Then

all plan. into what's it's expect FY gain X that's overall a we'll today moving thing, of fact, included yet is our to of In do which We're closer into to in X and our X/X ratio. not type factored there momentum guidance. We 'XX,

Operator

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

Michael Matson

more XL. just MVP on So one

then on So us the that of have you labeling larger to just any give need can clinical And sense the there? the FDA? timing, to expect you timing the when do labeling you data French on get from the sizing,

Christopher Simon

for Yes, question. thanks the Mike,

really submission kind think clearly the to That's about and the no look setting. We're leading that. don't going base the what it work-in-progress to where of and in clinicians without is largest timing design. together need out centers Xcel limited PFA for engineering far there's supportive is the structure with doing, give like. the we The for no change as what that we think the workflow the workflow. release So the But FDA our of appropriate FDA dialogue it that of helping needs working and substantial What some closure control I of is in to technology. and saw truly with access highly actually MVP to XL use and still same put and There's clinical active evidence is to patients the on available has in for clinicians with as VASCADE. are works label how branch, the beginning we is been market best expand I change too

making as top say a we Mike. but we forward, priority, to more So go it are

Michael Matson

currency with the there I pretty Okay. movements. from large can Got currency was EPS But and it. know predict really a year. of to the half one in And then headwind fiscal no stand what And first margins expectation -- least, is where it continue currently rates be neutralize? second the half? it to Is going for at to Does your that headwind? become be they a tailwind? Does a

Christopher Simon

Yes.

the current I prevailing moving seen think headwind. of over some should global rates, rates somewhat I've if given -- I around a volatility the to But be markets. in and it of all the continue at think elections

of make call I too a much want don't there. to So

Michael Matson

$XXX then this to million year. that I say CSL Okay. contribute hear thought going heard you was I Did finally, And right? I that guys

Christopher Simon

of What the all the the fiscal XX% to we're beginning commitment. that Through can million going CSL, transition already has approximately purchase Yes, minimum our first to about been talked realized their will and half. of million $XX Mike, our the approximately needed that in customers, year, Their $XXX more. we're they've of first at do you of we like what respond. Roughly the seeing guidance. did we that affirmed back do And in included half was from the was continue.

In transition half it's than to yes, agreements. it expect the later higher fully total fact, not our existing has them over was of XXXX the be of the We year. model But still second original from the December marginally accelerating going than it to expectation. per volume

Operator

the our question from from next comes Kristen And of Stewart King. line CL

Kristen Stewart

environment be areas that's acquisitions the out just need to do provide what kind you'd was of a I good on wondering thinking forward? M&A quarter. and And if the could going some there looking on and over-level at? Congrats you

Christopher Simon

and we've the recent those what Kristen, acquisitions had, here Right EnsoETM. deliver both neutralization, top sustainable going with certainly or the against to second priority for the our year, some That look forward. to drive priority thank is fully make whether question. Welcome, We for fully R&D they're Guidewire to drive that continue really to priorities. our our now margins, be remarks. We and expenditures second more first, half the our we profitability to HEP and significantly our fiscal this all want opportunistic immediate to inorganic you against to Growth, will and business prepared to and on organic delivering remains regards third XL our and in now this we're said, of doing deliver with and want it's the M&A. of

tuck-ins. think I

outstanding They example. we're shower, an about been trial and FDA. that for the TCT. we've shape fact, option baby had on public their play put In relationship very to That's we've that our moving readout and helping for forward submission at patch

equation. the about So But can where returning of for talk value that's saw buyback 'XX, paydown opportunistic appropriate. did We'll the the in about quarter. part is then be include to as you -- will something M&A we we But and that example. debt we in and fiscal would shareholders

in it's performance rapid about category. can tech in home very driving our validating tuck-ins. year really a on from or next is the leg be thesis Technologies Maybe enabling we'll the attractive Interventional top stool. we now talk priority that longer, now our and But this a For the and

Operator

conference. for today's your participation conclude Thank does the you in program. This

disconnect. now You may

Haemonetics (HAE) 7 Nov 242025 Q2 Earnings call transcript