VIVO - Earnings call transcript Q1 2021 | Meridian Bioscience Inc.

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Meridian Bioscience Fiscal First Quarter 2021 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to your first speaker today, Mr. Charlie Wood, Vice President, Investor Relations. Please go ahead.

Charles Wood

Amy. you, Thank welcome Call. and Fiscal First XXXX Good to Earnings Quarter morning, Meridian's With Officer; Chief Chief Kenny, me Jack are Executive Financial and Officer. Baldasare, Bryan slides are Please accompany at that our filings, release note SEC investor.meridianbioscience.com. this on available and call our website earnings to

post in prepared after fiscal We on Global Sciences the With H.C. a the Bryan and March of is calendar, currently May Friday, call XX, earnings Conference QX our Wainwright XXXX to Jack copy and X will call. these will for remarks regards be our XXXX. and participating Life scheduled X,

we you the and Before let today, forward-looking begin me that the statements. include remarks remind presentation company's

that described SEC from note, subject are X, results which the to Meridian including by statements materially from them. are the related and to filings. in projected, Forward-looking publicly may as those time differ today, forward-looking statements beyond particular, uncertainties affected control, time be no statements obligation the risks and in undertakes these of The numerous many to pandemic. risks company's company's may and COVID-XX uncertainties, company's update these of and makes to XXXX, risks February

operating financial net I'd release. Jack. now GAAP other to related and And measures on to discussions call measures Additionally, we presentation, comparable refer in operating these to basis. A earnings earnings directly adjusted an financial included our most net specifically throughout non-GAAP operating earnings expenses, non-GAAP income, the per diluted with this each margin, and measures, turn share, are of reconciliation over like the

John Kenny

third beating Meridian. of in XXXX the earnings with return quarter with pandemic-driven quarter discuss orders, to should elaborate some posting and incredible the segment highlight heat launched out a quarter proprietary provide COVID-XX-related we be as demand our QX. later force pandemic. he Science I'm not Bryan to in from share, an had presents lows Air-Dryable December. the continued Life be progress. to in of We virus did the retreat the on wave business and overlooked. Diagnostic the our I revenue quarterly not driving fiscal Notably, like number of first gains of the version 'XX single-digit a restrictive of third on The for Thanks, Charlie. ended of before per the initiatives core further reagents, Record its business hitting the would another RNA strength recovery and in but the well our for plateau will of resurgence despite quarter as the excited and above rampant of when you result Master financials achievements Life call. of our fiscal Diagnostics substantial update In the Science, the Mix. continues

about companies sending for to called that party, that multiple DNA per specialized dollars recall, as it you the is third format to equipment very transportation lyophilization, or kit a both process that attention development version brings. for beginning complexities, requires for customers. and a the applicable use time in which feature we delivering the the If test. in being attractive as add reduces options don't it not option unfold. now, at dry expensive test molecular a the a but is storage to to ago, situation a it only IVD not their cost enough assay manufacturing a was a well Previously, Even was as molecular owning dry-format COVID-XX pandemic year We believe it the getting innovation focus that was game-changing for I launched as this assays a of think was this

cost-effective more been manner this better reporting same end revolutionize feedback commercially the have our oven. in mix, has new the using and customers diagnostics. companies first establish even with mix, standard performance of or development a way its available help adjacent food sampled Our a but much molecular approach other and veterinary, kind, simpler outstanding facilitates some initial and lyophilized think diagnostic to Over and the in really such than commercial can other us result wet mixes. this environmental, as a We highly position markets, forensic XX acclaimed

began Meridian in of initiative. cut the assay Revogene first assay The with our SARS-CoV-X shipping funding On approval the pharyngeal results the the minutes XX call coming NIH weeks. submitted was of the using RNA-based first Revogene support acquisition use XX other authorization workflow for same and returns assay of the since the soon December, Meridian new FDA Revogene made emergency January. milestone the the real-time that we samples GenePOC both in the Phase is RADx forward X moved look test it This RT-PCR to of as from in other was the submitted for on an and assay for XX early receiving with projects This to nasal program. assays platform. important the to simplified kits and I SARS-CoV-X Diagnostics a an side, developed It EUA Revogene in is assay We positive FDA specimens. as as and to is also with the minutes.

in began recently select to U.S. we the shipping the mentioned, customers first kits I As

back of some have As had recent maintaining some their of allocation. approach the other necessary we non-COVID competitors put we the kind products with meet the assay, for Further, taking volumes the order platform, to optimize any core Revogene particularly that production production. our new on time it or of assays to of are in take a will the its months from first of needs won customers, whom

a exceptional net and of December SARS-CoV-X a Anticipation of in play I ramping in EUA systems, have new details on strong assay, plan Revogene for reliable XX, customer XX in PIEs, the expected the We the continue XXX led through can we acceleration and quarter, to installed today. Revogene total receiving demand service to of COVID-XX long be an to the situation. the continue focused instrument and some those production base of developed placements, placements building for resulting back-order supply. share to customer address for the assay relationships has game, To we XXXX, as bringing

line new As Newtown, here we street announced of earlier over awards ramp capacity to production are with we the second down of end PIEs $X.X of week, Quebec, per from to a are this a the Phase addition This the new in month lines. the the our opening with JobsOhio new of shift targeting XXX,XXX of X will corporate and maximum RADx million in facility of Coupled the II conjunction initiative, village from Cincinnati. a automated another house year. headquarters manual in facility by calendar we in NIH

access are fiscal trials in The patient with on obtaining start February, are focus track season do the In panel new the other facility QX. C. this need assay development progress submit resources As on specimens, this trials specimens. completed starting we clinical Campylobacter assay. progress on online, clinical submission later as assay trials provide preparation will of FDA that with strategy Revogene clinical still trials track ramp the an assays, to and get new for SARS-CoV-X the redirect to in This trials per for to will the the panel new to respiratory for RI continues while new Revogene limiting continues a submit consistent The machinery, in to experiencing, for as this FDA anticipate year, year. with but still in respiratory, the this clinical fiscal challenges well challenge, being to clinical to submission puts result we continues due GI early on likely to has be X requires much the expected we further year new still to to as X there Despite year. our production Curian product difficile plans out progress. to as gastrointestinal to of be is custom updates the the for assays the X delayed Diagnostics its push 'XX, light assays Curian patient continues. this assay the to us slow on

it thought the some progress have I be good in update on made facility. Billerica would to our Lastly, we provide

XXXX. inspections June a XXXX, from closed October October and in the our remediation Over in by the we warning inspection, comment XXXX outstanding, last to received notified In plans are XXXX them pending hard XXXX year, October submitted that of written the a letter worked have and The and we responses we remains in of address XXXX. and raised the in future issued issues the FDA the ready. XXX October of of FDA June number FDA

inspection. meaningful to we their resolved, and the to welcoming fully not While look have made we progress, FDA forward complete

Now about the Bryan to the for over quarter. call I'll hand to talk the financials

Bryan Baldasare

Jack. you, Thank

opening in segment. Science another As recorded the was his in strong Jack We remarks, year-over-year, the by performance for of driven XX% million, consolidated Life $XX mentioned largely up revenues company. record QX the quarter

$XX accounting equity first adjusted bonus XX% and $XX of a operating incremental a compared of remains exchange added of of $XX income year-over-year gross driven strong operating the profit with adjusted acquisition, net last cash earnings for reagents million EPS contributed XX% story compensation was economies quarter XX% Adjusted Science up the Also were primarily was molecular diluted GAAP an purchase growth On million quarter revenues for year. of impact as quarter last improvements quarter award basis, The million. consistent were fiscal amortization, $X.XX, from On of Consolidated the operating a well fiscal in or in currency margin scale of first molecular Exalenz by basis, for expenses 'XX. 'XX. income 'XX a margin, first year-over-year. year. Life XX% on gross $X result of million, as quarter first first approximately non-GAAP little million, was by foreign programs. The were to XXX% an expenses $XX $X.XX the the in XX%. Excluding of operating the million over revenues primarily from driven versus this in our with changes, XX% our margin rate of of including of was by increase with the basis, incentive quarter, Sales XX% and reagents. the $XX up expenses approximately as from in consolidated fiscal operating up was expenses increase

selective operating acquisition the in to aforementioned were $X expense in contingent drivers, consideration the million, and a expenses include $X.X diluted was GenePOC. $X.XX. to earnings operating of addition GAAP GAAP net million legal GAAP spending $XX EPS related and In increase million

Diagnostics our segments. Now revenues look of X let's $XX delivered at details million. operating the of

H. of continued QX part was year flattened which this this the was only though also Diagnostics last down loss despite less on in stalled the including adjusted costs, XX% an While products, think up from pylori recovery higher-margin quarters, down and affected positive XX%, year-over-year had people and seen operating trial Similar from XX% it it infection last the The on first margin expenses volumes to and product by and than on programs by in decrease new to prior important acquisition development improvement stayed Exalenz of adjusted the driven note from lower up is Exalenz, and the has absorbed profit was year-over-year, amortization. our quarter antigen stool and programs, asset continued of $X development optimistic. mentioned product Diagnostics the same a year. not $X operating in million driven the we progress investment since rates of sales an lows pandemic. the quarter new wave climbed last of an it's is the quarter million. by saw from sales in intangible remain QX costs of the prior sign continued of segment XX% basis recovery Gross year home a were quarters. the more. year-over-year and commercial for had XX% and we the that the early in was during QX, We that result up pricing including levels. pressure heat our as lower X% for spending retreat, of from clinical in The

operating products million, year-over-year. was COVID-XX of Of note, new revenues margin year. non-COVID from we $XX Our quarter from during last estimate we any XX%, impact brings continuing our business million, initial the mind up customer highlighting picking for up 'XX. segment XX% year-over-year, pandemic. that not economies revenue Keep did our our a the of of we building when We revenue this COVID-XX continues at recognized income the from increase leverage relationships products. be scale exceeded in Adjusted XX% million. in are are This QX contributions have core fiscal of to from large $XX an Science driven that XXX% was of $XX scale. in to by revenue such of first in a up margin was Life demonstrate the Gross business operating XX% quarter, the profit molecular

balance to sheet. Turning the

December we of XX, $XX of under cash borrowing As and in had our of $XXX million million capacity line $XXX million a credit.

revolving quarter, repaid credit we the our facility. During million $XX on

expenditures make our Over we investments. capacity manufacturing to our in build new than so Science balance to Life sheet those plan average capital leverage to Revogene lines, few we fortify significantly production the quarters, as the strong historical next expect our higher and see out further

Now turning guidance. to

our revenue continue robust expect to the quarter, we we science for As products mentioned in to be demand for life when preannounced QX. our

infection the to level of recovery are optimistic suppress continues the will throughout growth Diagnostics, While U.S. in current we year. that the fiscal still continue in

fiscal and during uncertain $XXX million, $XXX million As for now to holding to are and Diagnostics Like expect million. $XXX such, and continues year raising many we million these We million it to expectations Science $XXX raising consolidated guidance. companies, between difficult expectations forecast Life times. between $XXX and revenues between revenue be us to million revenue $XXX our

XXXX the levels of lower forecast implied expect pre-pandemic the second quarter lingering In our half the anticipation offsetting Diagnostics Even from pandemic. the notice half assumes to half. second contributions the return result infection Science, the year you declining to we headwinds that fourth to COVID-XX will the the Life assays, administered and similar so, expect world. this above of levels We Life significantly be in as the rates the vaccines would are Science for of year first we in around COVID-XX that of revenue is from than revenues fiscal

Life As previously, and we difficult and to product the destined between revenue segment more for non-COVID it in both as Science non-COVID becoming inclusion is COVID COVID assays. more mentioned in receive distinguish customers shipments revenue

able We are to to. this report as as metric will long continue we

revenue However, contribution we the are not to going going the from call expected out forward. pandemic

While And build-out affecting to between adversely of back now contemplate guidance demand facility. margin new time, guidance not is in period coming or of sight delaying causing than for any quantifying back capacity I and in XX%. patterns we EPS raw over either raised a an our November. hand current be to reductions manufacturing our or do supply Jack. fully manufacturing between Life original call from Revogene reflects the results our This order chain not shares. adjusted extended closures guidance the $X.XX COVID-XX it, are materials million This site for partial XX% does encounter in XX.X assumes raise on pandemic $X.XX into an operating more our as based that diluted and issued Science will in revenue and same Adjusted of line the our share full significant expected count result of guidance of we

John Kenny

Bryan. Thanks,

as applicable last but but many durability well. business in of us. COVID-XX-related This was it heard phrase we speaks are there quarter the a only building. something in our about great were another impact that Science demonstrated times from you've the core is Another this having would sure our Not continued few back the to that like up the I the was go global mentioned products, weeks, to and business I'm results. quarter the COVID-XX contribution to books Life testing certainly significantly Bryan to on demands. we strong too

We year results the the supplier continue past relationships beneficiary, to that This for with business. the are will COVID-dependent. as but our great example the received produce the last we manage a they are is not us a of few COVID customers pandemic. global their we recognizing after In awards from weeks, an science X we're companies, life long building of COVID top during IVD partnership

well continue investors, the see us. in and story existing building grateful what support and to we're continue are long-term as We that tell new, to as all for our potential

open any Now Amy, for for are can and I line questions we Bryan here up have. you questions? the that

Operator

Instructions]. [Operator

from Brackmann of line Your comes today William first Andrew question Blair. the with

Andrew Brackmann

how sort start, an Obviously, maybe industry last about And framework occurred ago to Meridian how investment at to over acquisitions? terms But of see today can Maybe COVID? from has related and Jack. really at broadly, businesses more talk this inform looking does Sciences maybe then that, Diagnostics you're that year and/or of a landscape lot versus year. how about you time of thinking a out standpoint the you in coming Life

John Kenny

Andrew. problem. No Sure,

So you you to want I'll start can. this. And Bryan, add, if

I other the think, as on had and the that, year. been really last pivot. we first been strategy our really all us certainly Diagnostic the the companies have for forced our couple This into our and over news changed last strategy, said, With fed world businesses really And good years. a of all. in us we COVID change has lot Science is has as in we the at working being to that that working of both Life already didn't certainly, implement strategy well to

in that That ourselves really we come COVID back of the will we'll to that a we whatever well see kind non-COVID think larger out acceleration do our steady slow, next be Science do we because non-COVID-related months. And and in that will gets there as like a this looks business. XX COVID the that an years. will a return for is over working this then growth of control, the both testing position our future. our that We couple returning stronger pandemic ongoing of for coming into COVID as brought being see over we've have on business business So of Life more strategy the out with we that of as return think business the Diagnostic be been of last

on we our has to would and addition strategic will general, consider we situation. for coming present in in work Bryan, to have at that the us for this Charlie open certainly I approach you want the sheet themselves doing. and may further ears eyes this that -- that do programmatic had coming strengthens us of keep So that strategic to the and enables balance over This and us, acquisitions balance have. looking say that, with our we our more team months, sheet that position opportunities good We're continue the to a to help a we're that? add really to strategy into

Bryan Baldasare

Yes.

Just the would been on this our other really of has opportunity us an sides to thing add, Andrew, our accelerate that business. strengthening for I both manufacturing

that increasing So us And that ability a the This might Science better we're has puts standpoint, in post accelerated to have Revogene a from I capacity. in out manufacturing and our automated very position, done future. building the then on Life do think Diagnostics for specifically, going we forward. side, that pandemic,

Andrew Brackmann

great. then, real on quick. Bryan, one maybe That's for guidance you, just And

range. needed the annualize it But of in the sort about looks year to there's appreciate guys did of of rest million segment growth that's the So $XX hit quarter, sort just for of comments of Diagnostics the if what bottom your I fiscal end so the or first the like on you here.

give the contribution Revogene an can idea we potentially how us then from antigen between you products? that So growth and recovery about should and be just thinking base of maybe

Bryan Baldasare

Yes. Sure.

X is visibility. is million a to on we've the $XXX perspective, or X $XXX months about talking -- been best from over visibility our million big-picture Andrew, again, So next the range based

not less to fiscal the we're out get of of visibility trying have half going We year, second the too to far what's happen. in terms for so predicting

half we similar business, the we are of experienced for of we last being the confident reiterate, what in see the However, kind Science to enough do year. Life QX of to second side just

as range side, of going some but you volume helps on to the say framework Revogene, $XXX impact to Diagnostics the the -- side. part the we really second our revenue put to business. implications million steady going year, pre-pandemic would So to that's is, in return around that on $XXX certainly, Science the the million slow to on are SARS-CoV-X holding hopefully, thinking the of see our right Diagnostics manufacturing for half levels. are an I that's now, a ramp we the of And particular. numbers we to Life why have one that test up the of And the on we're

would a higher some will QX, but that You QX particular platform contribution contribution you in during see and see QX. from

John Kenny

to just And add that. to

it's had improve million. business said, As you Take think $XXX will we we Diagnostics in a core times which go $XX as million Bryan forward. slightly that X,

I idea, stuff put gives range of a going confidence such on we COVID side, your bit Diagnostics in Andrew. and take in on that that it, forward the million core a think that you $XXX that's we growth business and out why the into little add there have $XXX the good pretty million to then top of

Andrew Brackmann

Great. to me. ask in antigen And there's U.S. for product the remarks, the any bringing I last update if sort can the timing partnered it one so on hear to of didn't prepared I if just then

John Kenny

Yes.

continues move we submitting anticipate in project that would to -- to So coming weeks. the antigen be the forward. Obviously, the partner partnered the FDA would our

They And the that see that we and on designation, about we been them going. do that's QX probably to more point. coming administration point-of-care needed submit. seeing get Biden quality really and as from submission you so been then and a on being especially that increased still are have very that, extra in data at when they to preparation beyond are the us regulatory testing And about -- working to we're optimistic this taking start closely keeping that the the we weeks. relevant a partner, testing had again, and comments But their helping work to so a they from time towards with working so work have as to the standpoint

that believe the that on bigger able do in of the a year. position we'll we to half be second have So

positive products the We our and we're market as for have team customers a has feedback well smaller in selling That's forward Europe. in our from looking been been those as us, sales will but our feel into that And to of we think the $XXX and here. why to be still guidance part $XXX U.S. holding million. another confident bringing of are the to we million that Europe,

Operator

next Our Rachel of Piper the from comes question Vatnsdal line Sandler. with

Rachel Vatnsdal

is This Rachel congrats guys. for quarter, and Steve, the on on you

So the what just first, weighting puts takes and us for on through then through can talk us Is us walk you're Life it the what that. are through year? you just thinking example? any you Science on took? for throughout side? you XX/XX, And Can you conservatism walk So the assuming

Bryan Baldasare

is So that, what certainly visibility is Rachel, I we over X with published do the One, and customers so next patterns again, we been have order X that our our annual thinking our what into saying. reiterate have would guidance, we quarterly guidance, don't we of on kind or and have best months.

reported on have our in we so QX being figure we the Life terms revenue we've why Science. And just that's -- that QX commented to of for QX, similar

numbers. trying of the over all say these trying the $XX for where around the similar times. business will. So our be to get QX out calling have current of certainly around second thinking is. how during last skis you're terms now pandemic where revenues, not if or to second we've perspective, magnitude half that forecasting Science, ball crystal the in Life we're right again, our we that of to of order million neighborhood of year we're half at in some this, a you That's We're the looking to forecasting been I in you kind believe From range, million of that not we're of $XX our would give

John Kenny

summer, objective And on next have Rachel, get call. things what of in I the when to a think again, second is half before year the before fall. have we you'll more the but and evidence our kind last as have summer, But here got rampant, QX little crazy of we late quarter's clarity in that not of -- we'll was -- COVID bit did the

we again, vaccines, that's the reasonable effectiveness that lot are a of guide variants we but don't of is other why that other what's there. feel because if that, So know that with as the regards Perhaps a out create our use happen going conservative, the to to problems. we There's place. pieces

felt out if what put what confident at this there we very and that's So anything, we with, took time. we

Bryan Baldasare

Yes.

thing other just of molecular question and we our would up year. to Rachel, kind the during wrap The I the mix between that rest do fiscal on, this continue is of expect the immuno

reagent or versus So our talked we've about contribution higher level of the margins. reagents as molecular helps immuno certainly operating

John Kenny

and And that's not thing. say XXXX even just I saying that that's beyond. we're 'XX a just that, not about in that thinking -- when something That's

Rachel Vatnsdal

it. Got

approvals with FDA. That's been Okay. delays To my EUA your We've the on December. in hearing about submitted some helpful. next question, from you EUA, so your Revogene assay

us So the Have And what any been assuming for tell you you FDA? timing having dialogue on guys just that of you with approval? latest that? can are

John Kenny

Package FDA limited as submitted back, what in X, We very questions few the describe we EUA weeks responded the respond. as have frame. before, mentioned from weeks FDA back; to with would the did feedback receive went we So into time that a them. the we X felt I comfortable December to

So coming very lot The a from hear getting optimistic. we're that plate. their FDA with angles from we we're has anticipating FDA, and on back will weeks They're in active. submissions. hit the many certainly the It's

very feedback tell received can the I the positive we about our a that, thorough submission, you and of had quality from we FDA us, for submission. So

that chance news do them it, coming the we'll of are believe and we that a So them. we having reviewing weeks a from you highly submission high-quality gives so optimistic in hear -- good better

Rachel Vatnsdal

and then for COVID beyond me. question beyond? That's about your just XXXX, looking last And so into thoughts testing Awesome. XXXX you talk durability Can on great.

John Kenny

you tell I tell was. wish could it my thoughts. I'll you I what exactly

I think on an everybody's this. opinion got

won't -- tell We that I as of that not have have to that This of do likely is think we're means to. a we with tail. Diagnostic People certainly is get good has to for go doing we come, long have we way. forward. foremost, many COVID line said, so test. test be when get remain to sight to most as for something to that changed a what we and combo flu and years you're you flu Whether going like flu will a our COVID that, season, trying just this believe do this They'll conservative type diagnostics continue we're by But a a a of viable were is want first testing that's very ways. we asked will kind that name. with tests us go in forecasting, doubling and

So when a beyond were sight of of there'll business clear estimates what we that, ways. have happens news our significant really conservative to. different at lot and good XX over line about next with do -- a we months. is, have look again, 'XX us, say we we What that's aren't that But would what the for have good well, I our out we the as think we in be there. market obviously, COVID

see vaccinated as fell about For is that being something out testing example, last testing levels believe they're antibody more to We higher that talked of increases and of likely antibody people done. vaccination are summer, favor. was

that come they test want down sure is likely could the in And vaccine make to -- increase antigens that that testing the had but so control, if disease more to antibody was time the effective. to people over gets

the will viewing is like COVID. And a continued the that view this market think in so We significant that kind of a it be general flu of almost with market as doubling term way we're long it. the of our is

Operator

H.C. Yi Your from with of Chen the Wainwright. comes line question next

Yi Chen

my in U.K., the segment So sensitivity and the your is strains identified by mutant also, affected with affected question And Africa test COVID-XX is in assay Brazil by mutant Life first reagents are the as COVID-XX strains Science respect South Revogene well? and specificity? the to

John Kenny

Great question, Yi.

primers own let people Science and question mix, on other for making Life that the bring first and and the Because testing. side, Science me their side So primers that, remember, antigen to start the all, or own you for if antibodies the side. probes are on they of we their making really that on only probes. is we're the molecular then Remember, a develop that Life applicable

testing, are the have have high far we As with customers, test we that strains. same tariffs, that our level. have ones by -- our not very been extensive and in have -- affected these as confidence customers done at performing have antibody The -- we is dialogue we our identified, our

strong So all strains regards performance nature. out But so that no to come of ones and that. pairs. we variants antibody customers that identified answer more are and degradation of performance been our to can't have our to far, if In with reporting speak very the of similar things future Revogene,

strains are testing not Our to seeing there, and the out from U.K. South Revogene, the we regards et cetera, done have an we impact are that in Africa, variant, extensive those.

the on to staying negative a the So close perform. changes that as happening. what's test none impact far have But them this had going emerging we are as for very and strains of on ability point, at are our on

Yi Chen

Got it.

is So assay or does can the currently original from not, differentiate company have developing an company SARS-CoV-X? the strains mutant And one? if the that the identify

John Kenny

folks do to know don't looking that back that that got I know I've team Whether not a is are I at to Yi. answer sure have my we on that one, full do in great bit to more. I'm one that little one that, current that I will go a get about probably a not disclosure. not that. or test we've got It's

back to and some have do I'll that circle up. one that's research So

Operator

There the are I to turn queue closing this no any time. call remarks. at further presenters back questions in the for the

John Kenny

of much, again us excited future. forward to first very appreciate to about you soon. We day, our look all, joining talk Amy. support, speaking your we're Thank and very for and certainly you you we'll in you a today. thank to Have We Well, May. great

Operator

you today's concludes this call. participation. And conference for your Thank

disconnect. may now You

Charles Wood	VP, Corporate Strategy, Business Development & IR
John Kenny	President, CEO & Director
Bryan Baldasare	EVP, CAO, CFO & Secretary
Andrew Brackmann	William Blair & Company
Rachel Vatnsdal	Piper Sandler & Co.
Yi Chen	H.C. Wainwright & Co.

Meridian Bioscience (VIVO) 5 Feb 212021 Q1 Earnings call transcript