Cynosure LLC

Revolutionary Solution for Smoother Healing and Significantly Reduced Scar Visibility MARIETTA, Ga., Sept. 27, 2024 /PRNewswire/ -- BRIJ Medical is excited to announce the launch of Brijjit® Scar Therapy, a game-changing solution that allows surgeons to grow their practice and helps patients take proactive control over scar prevention – from the second the incision is closed throughout all of the key stages of wound healing. Tissue Bridge Technology Continue Reading BRIJ Medical Launches Brijjit Scar Therapy - Help Prevent Bad Scars Before They Start Powered by Brijjit® Force Modulating Tissue Bridges, this groundbreaking approach tackles scar formation from the outset, unlike traditional treatments that focus on scars after they form. Brijjit addresses the issue right at the source by relieving tension on the incision immediately after surgery. Proven in a randomized clinical trial with UT Southwestern Medical Center and a study led by Dr. Holly Wall, published in the Aesthetic Surgery Journal, Brijjit has been shown to reduce scar area by 38% and decrease wound breakdown by 90%. By eliminating up to 100% of tension on the incision, Brijjit empowers patients with greater control over their recovery and scar outcomes. "Scarring is a major concern for surgical patients, something I encountered firsthand as a plastic surgeon. It's what inspired the creation of Brijjit," said Dr. Monte Eaves, Founder and Chief Medical Officer of BRIJ Medical. "Brijjit Scar Therapy is a true game changer—helping surgeons achieve better scar outcomes while empowering patients to take an active role in their recovery." As featured in the recent New York Times article, "The Power of a Smaller Breast," there is a growing trend of patients opting for breast reduction surgery, even if it means accepting the potential for scars. Now, surgeons can offer a comprehensive solution that addresses both wound breakdown and scar therapy—all in a single device. Dr. Killeen, the surgeon featured in the article, uses Brijjit devices to Relieve the Tension® on her breast surgeries, including with Cheyenne, the patient featured in the article. Program Details By offering Brijjit Scar Therapy direct to patients, surgeons can improve patient outcomes, grow their practice, and empower patients to take control of their scar healing through every stage of post-surgical recovery. BRIJ Medical now offers a detailed guide with best practices and a step-by-step implementation guide to streamline the integration of Brijjit Scar Therapy into their practice. For more information, visit BRIJmedical.com and discover how the Brijjit Scar Therapy Program is transforming post-surgical care and patient healing. About BRIJ Medical Our flagship product, the Brijjit® Force Modulating Tissue Bridge, is clinically proven in multiple studies, including a randomized clinical trial, to reduce wound breakdown by 90% and reduce scar area by 38%. It eliminates up to 100% of tension on incisions and healing wounds, while also saving surgeons time (up to 9x faster than sutures), and is a cost-effective solution for practices, ASCs and hospitals alike. At BRIJ, we provide enhanced control and confidence at every step of the healing journey. For more information, visit BRIJmedical.com. SOURCE BRIJ Medical WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

NEW YORK, Aug. 2, 2023 /PRNewswire/ -- The dermatology market is to grow by USD 12,761.97 million between 2023 and 2027 and register a CAGR of 10.82%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. The report is segmented by Application, End-user, and Geography. North America is estimated to contribute 39% to the growth of the global market during the forecast period. This is due to the growing geriatric population and the high prevalence of chronic and infectious skin diseases. As a result, the demand for dermatology products and services is increasing in the region. The US is the key contributor to the market in the region due to increased awareness of diagnostic tests related to skin diseases among older people. Read our Sample Report Continue Reading Technavio has announced its latest market research report titled Global Dermatology Market The report also covers the following areas : Dermatology Market size Dermatology Market trends Dermatology Market industry analysis Dermatology Market 2023-2027: Segmentation Application Acne Psoriasis Dermatitis Skin Cancer Alopecia And Others End-user Skin Clinics Hospitals Others Geography North America Europe Asia Rest Of World (ROW) The market share growth by the Acne segment will be significant during the forecast period. The major application for the dermatological equipment market is the treatment of acne, a typical skin condition characterized by blackheads, and pimples. The incidence of acne in adolescents and adults is increasing, and advances in dermatological treatments are increasing the demand for skin care products. In addition, the introduction of cutting-edge products and technologies that make acne treatment options accessible to patients around the world are the key factors driving the market development. Dermatology Market 2023-2027: Company Analysis and Scope Some of the major companies in the dermatology market include Aesthetic Group, Alma Lasers Ltd., Bausch Health Co. Inc., Biofrontera AG, Bioglint Derma Care, Bruker Corp., Candela Corp., Canfield Scientific Inc., Cutera Inc., Cynosure LLC, Dermatology and Co., DermLite LLC, Ernst Pharmacia TM, Fourrts India Laboratories Pvt. Ltd., Genesis Biosystems Inc., HEINE Optotechnik GmbH and Co. KG, Image Derm Inc., LEO Pharma AS, Lumenis Be Ltd, and Novotech Health Holdings. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ companies operating in the market. Company Offering Aesthetic Group - The company offers dermatology products such as biopsy punches and dermatological curettes. Alma Lasers Ltd - The company offers dermatology products such as DermaClear advanced hydra dermabrasion solution. Bioglint Derma Care - The company offers dermatology products such as Alospa and Clinket. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report Dermatology Market 2023-2027: Market Dynamics Key Drivers The effective diagnosis of skin disorders is a key factor driving market growth. Skin disorders are becoming more prevalent in the population, which arises the need for effective diagnosis, treatment, and monitoring. These diseases include melanoma, acne, psoriasis, and eczema. Skin products and services must be available to make accurate diagnoses, provide targeted treatments, and track skin disease status. Additionally, laser therapy devices offer precise and targeted treatment options for skin disorders. Hence, increasing diagnosis of skin disorders is expected to drive market growth during the forecast period. Major Trends The increasing prevalence of tele dermatology is a major trend in the market. Advances in technology have allowed patients to see dermatologists remotely. Patients can now consult a dermatologist from the comfort of their own homes, saving time and effort. With telemedicine, dermatologists can treat life-threatening diseases such as skin cancer and provide the most appropriate treatment. The growing demand for telemedicine and virtual consultations has made dermatology care accessible to more people. Hence, increasing teledermatology is expected to drive market growth during the forecast period. Significant Challenges The side effects of dermatology and safety concerns are a significant challenge restricting market growth. Side effects make patients hesitant to undergo dermatological treatment. Pharmaceutical companies and medical professionals must address and reduce these safety issues through strict clinical trials, thorough safety profiling, and effective patient education. Many companies are building trust among their consumers which is important to give confidence and enable them to make informed decisions about dermatological treatment. Hence, the increasing safety concerns are expected to restrict market growth during the forecast period. Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report! Dermatology Market 2023-2027: Key Highlights CAGR of the market during the forecast period 2023-2027 Detailed information on factors that will assist dermatology market growth during the next five years. Estimation of the dermatology market size and its contribution to the parent market Predictions on upcoming trends and changes in consumer behavior The growth of the dermatology market Analysis of the market's competitive landscape and detailed information on companies Comprehensive details of factors that will challenge the growth of dermatology market companies. Get Instant access to 17000+ market research reports! Technavio's Subscription Platform Related Reports The vertigo drugs market is estimated to grow by USD 551.42 million at a CAGR of 5.58% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by type (vertigo, and central vertigo), distribution channel (offline and online), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). Integration of digital health solutions in vertigo is a major trend in the market. The specialty pharmaceuticals market is estimated to grow by USD 331.12 billion at a CAGR of 12.59% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by application (oncology, multiple sclerosis, inflammatory conditions, infectious diseases, and others), distribution channel (offline and online), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The increasing demand for R&D due to government healthcare expenditure is a key factor driving market growth during the forecast period. Table of Contents 1 Executive Summary 1.1 Market Overview Exhibit 01: Executive Summary – Chart on Market Overview Exhibit 02: Executive Summary – Data Table on Market Overview Exhibit 03: Executive Summary – Chart on Global Market Characteristics Exhibit 04: Executive Summary – Chart on Market by Geography Exhibit 05: Executive Summary – Chart on Market Segmentation by Application Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user Exhibit 07: Executive Summary – Chart on Incremental Growth Exhibit 08: Executive Summary – Data Table on Incremental Growth Exhibit 09: Executive Summary – Chart on Company Market Positioning 2 Market Landscape 2.1 Market ecosystem Exhibit 10: Parent market Exhibit 11: Market Characteristics 3 Market Sizing 3.1 Market definition Exhibit 12: Offerings of companies included in the market definition 3.2 Market segment analysis Exhibit 13: Market segments 3.3 Market size 2022 3.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%) 4 Historic Market Size 4.1 Global dermatology market 2017 - 2021 Exhibit 18: Historic Market Size – Data Table on global dermatology market 2017 - 2021 ($ million) 4.2 Application Segment Analysis 2017 - 2021 Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million) 4.3 End-User Segment Analysis 2017 - 2021 Exhibit 20: Historic Market Size – End-User Segment 2017 - 2021 ($ million) 4.4 Geography Segment Analysis 2017 - 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million) 4.5 Country Segment Analysis 2017 - 2021 Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million) 5 Five Forces Analysis 5.1 Five forces summary Exhibit 23: Five forces analysis - Comparison between 2022 and 2027 5.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027 5.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027 5.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027 5.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027 5.6 Threat of rivalry Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027 5.7 Market condition Exhibit 29: Chart on Market condition - Five forces 2022 and 2027 6 Market Segmentation by Application 6.1 Market segments Exhibit 30: Chart on Application - Market share 2022-2027 (%) Exhibit 31: Data Table on Application - Market share 2022-2027 (%) 6.2 Comparison by Application Exhibit 32: Chart on Comparison by Application Exhibit 33: Data Table on Comparison by Application 6.3 Acne - Market size and forecast 2022-2027 Exhibit 34: Chart on Acne - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on Acne - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on Acne - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on Acne - Year-over-year growth 2022-2027 (%) 6.4 Psoriasis - Market size and forecast 2022-2027 Exhibit 38: Chart on Psoriasis - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on Psoriasis - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on Psoriasis - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on Psoriasis - Year-over-year growth 2022-2027 (%) 6.5 Dermatitis - Market size and forecast 2022-2027 Exhibit 42: Chart on Dermatitis - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on Dermatitis - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on Dermatitis - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on Dermatitis - Year-over-year growth 2022-2027 (%) 6.6 Skin cancer - Market size and forecast 2022-2027 Exhibit 46: Chart on Skin cancer - Market size and forecast 2022-2027 ($ million) Exhibit 47: Data Table on Skin cancer - Market size and forecast 2022-2027 ($ million) Exhibit 48: Chart on Skin cancer - Year-over-year growth 2022-2027 (%) Exhibit 49: Data Table on Skin cancer - Year-over-year growth 2022-2027 (%) 6.7 Alopecia and others - Market size and forecast 2022-2027 Exhibit 50: Chart on Alopecia and others - Market size and forecast 2022-2027 ($ million) Exhibit 51: Data Table on Alopecia and others - Market size and forecast 2022-2027 ($ million) Exhibit 52: Chart on Alopecia and others - Year-over-year growth 2022-2027 (%) Exhibit 53: Data Table on Alopecia and others - Year-over-year growth 2022-2027 (%) 6.8 Market opportunity by Application Exhibit 54: Market opportunity by Application ($ million) Exhibit 55: Data Table on Market opportunity by Application ($ million) 7 Market Segmentation by End-user 7.1 Market segments Exhibit 56: Chart on End-user - Market share 2022-2027 (%) Exhibit 57: Data Table on End-user - Market share 2022-2027 (%) 7.2 Comparison by End-user Exhibit 58: Chart on Comparison by End-user Exhibit 59: Data Table on Comparison by End-user 7.3 Skin clinics - Market size and forecast 2022-2027 Exhibit 60: Chart on Skin clinics - Market size and forecast 2022-2027 ($ million) Exhibit 61: Data Table on Skin clinics - Market size and forecast 2022-2027 ($ million) Exhibit 62: Chart on Skin clinics - Year-over-year growth 2022-2027 (%) Exhibit 63: Data Table on Skin clinics - Year-over-year growth 2022-2027 (%) 7.4 Hospitals - Market size and forecast 2022-2027 Exhibit 64: Chart on Hospitals - Market size and forecast 2022-2027 ($ million) Exhibit 65: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million) Exhibit 66: Chart on Hospitals - Year-over-year growth 2022-2027 (%) Exhibit 67: Data Table on Hospitals - Year-over-year growth 2022-2027 (%) 7.5 Others - Market size and forecast 2022-2027 Exhibit 68: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 69: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 70: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 71: Data Table on Others - Year-over-year growth 2022-2027 (%) 7.6 Market opportunity by End-user Exhibit 72: Market opportunity by End-user ($ million) Exhibit 73: Data Table on Market opportunity by End-user ($ million) 8 Customer Landscape 8.1 Customer landscape overview Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria 9 Geographic Landscape 9.1 Geographic segmentation Exhibit 75: Chart on Market share by geography 2022-2027 (%) Exhibit 76: Data Table on Market share by geography 2022-2027 (%) 9.2 Geographic comparison Exhibit 77: Chart on Geographic comparison Exhibit 78: Data Table on Geographic comparison 9.3 North America - Market size and forecast 2022-2027 Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%) 9.4 Europe - Market size and forecast 2022-2027 Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%) 9.5 Asia - Market size and forecast 2022-2027 Exhibit 87: Chart on Asia - Market size and forecast 2022-2027 ($ million) Exhibit 88: Data Table on Asia - Market size and forecast 2022-2027 ($ million) Exhibit 89: Chart on Asia - Year-over-year growth 2022-2027 (%) Exhibit 90: Data Table on Asia - Year-over-year growth 2022-2027 (%) 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 Exhibit 91: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million) Exhibit 92: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million) Exhibit 93: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%) Exhibit 94: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%) 9.7 US - Market size and forecast 2022-2027 Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%) 9.8 Finland - Market size and forecast 2022-2027 Exhibit 99: Chart on Finland - Market size and forecast 2022-2027 ($ million) Exhibit 100: Data Table on Finland - Market size and forecast 2022-2027 ($ million) Exhibit 101: Chart on Finland - Year-over-year growth 2022-2027 (%) Exhibit 102: Data Table on Finland - Year-over-year growth 2022-2027 (%) 9.9 China - Market size and forecast 2022-2027 Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ million) Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ million) Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%) Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%) 9.10 Canada - Market size and forecast 2022-2027 Exhibit 107: Chart on Canada - Market size and forecast 2022-2027 ($ million) Exhibit 108: Data Table on Canada - Market size and forecast 2022-2027 ($ million) Exhibit 109: Chart on Canada - Year-over-year growth 2022-2027 (%) Exhibit 110: Data Table on Canada - Year-over-year growth 2022-2027 (%) 9.11 India - Market size and forecast 2022-2027 Exhibit 111: Chart on India - Market size and forecast 2022-2027 ($ million) Exhibit 112: Data Table on India - Market size and forecast 2022-2027 ($ million) Exhibit 113: Chart on India - Year-over-year growth 2022-2027 (%) Exhibit 114: Data Table on India - Year-over-year growth 2022-2027 (%) 9.12 Market opportunity by geography Exhibit 115: Market opportunity by geography ($ million) Exhibit 116: Data Tables on Market opportunity by geography ($ million) 10 Drivers, Challenges, and Trends 10.1 Market drivers 10.2 Market challenges 10.3 Impact of drivers and challenges Exhibit 117: Impact of drivers and challenges in 2022 and 2027 10.4 Market trends 11 Vendor Landscape 11.1 Overview 11.2 Vendor landscape Exhibit 118: Overview on Criticality of inputs and Factors of differentiation 11.3 Landscape disruption Exhibit 119: Overview on factors of disruption 11.4 Industry risks Exhibit 120: Impact of key risks on business 12 Vendor Analysis 12.1 Companies covered Exhibit 121: Companies covered 12.2 Market positioning of companies Exhibit 122: Matrix on vendor position and classification 12.3 Aesthetic Group Exhibit 123: Aesthetic Group - Overview Exhibit 124: Aesthetic Group - Product / Service Exhibit 125: Aesthetic Group - Key offerings 12.4 Alma Lasers Ltd. Exhibit 126: Alma Lasers Ltd. - Overview Exhibit 127: Alma Lasers Ltd. - Product / Service Exhibit 128: Alma Lasers Ltd. - Key offerings 12.5 Bausch Health Co. Inc. Exhibit 129: Bausch Health Co. Inc. - Overview Exhibit 130: Bausch Health Co. Inc. - Business segments Exhibit 131: Bausch Health Co. Inc. - Key news Exhibit 132: Bausch Health Co. Inc. - Key offerings Exhibit 133: Bausch Health Co. Inc. - Segment focus 12.6 Bioglint Derma Care Exhibit 134: Bioglint Derma Care - Overview Exhibit 135: Bioglint Derma Care - Product / Service Exhibit 136: Bioglint Derma Care - Key offerings 12.7 Bruker Corp. Exhibit 137: Bruker Corp. - Overview Exhibit 138: Bruker Corp. - Business segments Exhibit 139: Bruker Corp. - Key news Exhibit 140: Bruker Corp. - Key offerings Exhibit 141: Bruker Corp. - Segment focus 12.8 Candela Corp. Exhibit 142: Candela Corp. - Overview Exhibit 143: Candela Corp. - Product / Service Exhibit 144: Candela Corp. - Key offerings 12.9 Canfield Scientific Inc. Exhibit 145: Canfield Scientific Inc. - Overview Exhibit 146: Canfield Scientific Inc. - Product / Service Exhibit 147: Canfield Scientific Inc. - Key offerings 12.10 Cutera Inc. Exhibit 148: Cutera Inc. - Overview Exhibit 149: Cutera Inc. - Product / Service Exhibit 150: Cutera Inc. - Key offerings 12.11 Cynosure LLC Exhibit 151: Cynosure LLC - Overview Exhibit 152: Cynosure LLC - Product / Service Exhibit 153: Cynosure LLC - Key offerings 12.12 DermLite LLC Exhibit 154: DermLite LLC - Overview Exhibit 155: DermLite LLC - Product / Service Exhibit 156: DermLite LLC - Key offerings 12.13 Fourrts India Laboratories Pvt. Ltd. Exhibit 157: Fourrts India Laboratories Pvt. Ltd. - Overview Exhibit 158: Fourrts India Laboratories Pvt. Ltd. - Product / Service Exhibit 159: Fourrts India Laboratories Pvt. Ltd. - Key offerings 12.14 Genesis Biosystems Inc. Exhibit 160: Genesis Biosystems Inc. - Overview Exhibit 161: Genesis Biosystems Inc. - Product / Service Exhibit 162: Genesis Biosystems Inc. - Key offerings 12.15 HEINE Optotechnik GmbH and Co. KG Exhibit 163: HEINE Optotechnik GmbH and Co. KG - Overview Exhibit 164: HEINE Optotechnik GmbH and Co. KG - Product / Service Exhibit 165: HEINE Optotechnik GmbH and Co. KG - Key offerings 12.16 Image Derm Inc. Exhibit 166: Image Derm Inc. - Overview Exhibit 167: Image Derm Inc. - Product / Service Exhibit 168: Image Derm Inc. - Key offerings 12.17 Lumenis Be Ltd Exhibit 169: Lumenis Be Ltd - Overview Exhibit 170: Lumenis Be Ltd - Product / Service Exhibit 171: Lumenis Be Ltd - Key offerings 13 Appendix 13.1 Scope of the report 13.2 Inclusions and exclusions checklist Exhibit 172: Inclusions checklist Exhibit 173: Exclusions checklist 13.3 Currency conversion rates for US$ Exhibit 174: Currency conversion rates for US$ 13.4 Research methodology Exhibit 175: Research methodology Exhibit 176: Validation techniques employed for market sizing Exhibit 177: Information sources 13.5 List of abbreviations Exhibit 178: List of abbreviations About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: SOURCE Technavio

MARLBOROUGH, Mass.--( BUSINESS WIRE )--Hologic, Inc. (Nasdaq: HOLX) announced today the Company’s financial results for the fiscal second quarter ended April 1, 2023 . “Hologic posted robust financial results in our second fiscal quarter, with both revenue and earnings exceeding our prior guidance,” said Steve MacMillan, the Company’s chairman, president and chief executive officer. “Each of our core franchises grew double digits in the period, with consolidated organic growth of more than 20%, excluding the impact of COVID. Our Breast Health and Surgical businesses delivered exceptional performance, both growing over 23% – or over 25% in constant currency, and our Diagnostics business again delivered strong results. We are also pleased to increase our full-year guidance once again.” Recent Highlights Revenue of $1,026.5 million decreased (28.5%) for the quarter, or (27.5%) in constant currency, primarily driven by significantly lower sales of COVID-19 assays, which was expected, compared to the prior year period. Revenue, however, was notably higher than the Company’s guidance of $930 to $980 million provided last quarter. Excluding COVID-19 revenues, total organic revenue grew 20.2%, or 21.9% on a constant currency basis. Diagnostics revenue decreased (52.9%), or (52.2%) in constant currency, primarily driven by lower sales of COVID-19 assays compared to the prior year period. Excluding COVID-19 revenues, Diagnostics revenue grew 14.9% on an organic, constant currency basis. Molecular Diagnostics revenue declined (60.3%), or (59.8%) in constant currency, primarily driven by lower sales of COVID-19 assays compared to the prior year period. Excluding COVID-19 revenues, Molecular Diagnostics revenue grew 23.9% on an organic, constant currency basis. Breast Health revenue increased 24.2%, or 25.7% in constant currency, primarily due to improving semiconductor chip supply enabling additional gantry deliveries within the quarter, resulting in higher capital equipment revenue compared to the prior year period. Surgical revenue grew 23.4%, or 25.2% in constant currency, with strong results across an increasingly diverse business. Cash flow from operations remained very strong in the second quarter at $206.3 million. In addition, the Company repurchased 0.6 million shares of its stock for $50 million in the quarter. The Company was named on the Forbes list of America’s Best Midsize Employers 2023 and was ranked 14 th among 500 midsize companies included on the list. The Company published its latest annual sustainability report, “Making a World of Difference.” Key financial results for the fiscal second quarter are shown in the table below. GAAP Non-GAAP Q2’23 Q2’22 Change Increase (Decrease) Q2’23 Q2’22 Change Increase (Decrease) Revenues $1,026.5 $1,435.7 (28.5%) $1,026.5 $1,435.7 (28.5%) Gross Margin 57.1% 65.9% (880 bps) 62.1% 71.0% (890 bps) Operating Expenses $313.7 $352.5 (11.0%) $317.0 $338.2 (6.3%) Operating Margin 26.5% 41.4% (1,490 bps) 31.3% 47.4% (1,610 bps) Net Margin 21.3% 31.7% (1,040 bps) 25.9% 36.5% (1,060 bps) Diluted EPS $0.87 $1.80 (51.7%) $1.06 $2.07 (48.8%) Throughout this press release, all dollar figures are in millions, except EPS, unless otherwise noted. Some totals may not foot due to rounding. Unless otherwise noted, all results are compared to the corresponding prior year period. Fiscal 2023 is a 53-week fiscal period and the additional week was included in our fiscal first quarter results. Non-GAAP results exclude certain cash and non-cash items as discussed under “Use of Non-GAAP Financial Measures.” Constant currency percentage changes show current period revenue results as if the foreign exchange rates were the same as those in the prior year period. Our fiscal second quarter organic revenue results exclude the divested Blood Screening business. Revenue from acquired businesses is generally included in organic revenue starting a year after the acquisition. Revenue Detail Increase (Decrease) $ in millions Q2’23 Q2’22 Global Reported Change Global Constant Currency Change U.S. Reported Change International Reported Change International Constant Currency Change Diagnostics Cytology and Perinatal $111.9 $115.4 (3.0%) (0.7%) (4.3%) (0.7%) 5.4% Molecular Diagnostics $342.2 $862.5 (60.3%) (59.8%) (53.3%) (73.5%) (71.9%) Blood Screening $10.6 $9.2 15.2% 15.2% 15.2% N/A N/A Total Diagnostics $464.7 $987.1 (52.9%) (52.2%) (46.9%) (64.3%) (62.1%) Organic Diagnostics ex. COVID-19 $355.0 $314.2 13.0% 14.9% 14.2% 10.1% 16.6% Breast Health Breast Imaging $311.5 $245.0 27.1% 28.8% 24.6% 35.4% 42.5% Interventional Breast Solutions $73.9 $65.4 13.0% 13.9% 14.6% 5.4% 11.0% Total Breast Health $385.4 $310.4 24.2% 25.7% 22.4% 29.7% 36.6% GYN Surgical $144.8 $117.3 23.4% 25.2% 20.9% 33.6% 42.5% Skeletal Health $31.6 $20.9 51.2% 53.4% 39.4% 74.5% 80.4% Total $1,026.5 $1,435.7 (28.5%) (27.5%) (22.5%) (41.9%) (38.5%) Organic Revenue (definition above) $1,015.9 $1,426.5 (28.8%) (27.7%) (22.9%) (41.9%) (38.5%) Organic Revenue excluding COVID-19 $916.8 $762.8 20.2% 21.9% 19.4% 22.6% 29.5% Other Financial Highlights U.S. revenue of $768.7 million decreased (22.5%). International revenue of $257.8 million decreased (41.9%), or (38.5%) in constant currency. GAAP gross margin of 57.1% decreased (880) basis points. Non-GAAP gross margin of 62.1% decreased (890) basis points. The decrease in gross margin was primarily due to the decline in COVID-19 assay sales compared to the prior year period. GAAP operating margin of 26.5% decreased (1,490) basis points. Non-GAAP operating margin of 31.3% decreased (1,610) basis points. The decrease in operating margin was primarily due to the decline in COVID-19 assay sales compared to the prior year period. GAAP net income of $218.5 million decreased (52.1%). Non-GAAP net income of $265.7 million decreased (49.3%). GAAP earnings before interest, taxes, depreciation and amortization (EBITDA) was $355.8 million. Adjusted EBITDA was $345.4 million, a decrease of (50.9%). COVID-19 revenues, which consist of COVID-19 assay revenue of $71.2 million, and other COVID-19 related revenue and revenue from discontinued products of $27.9 million, decreased (85.1%), or (84.8%) in constant currency. Total principal debt outstanding at the end of the second quarter was $2.84 billion. The Company ended the quarter with cash and equivalents of $2.58 billion, and a net leverage ratio (net debt over EBITDA) of 0.2 times. On a trailing 12-month basis, GAAP Return on Invested Capital (ROIC) was 14.0%. Adjusted ROIC was 14.4%, a decrease of (1,300) basis points compared to the prior year period. Financial Guidance for the Third Quarter and Full-Year Fiscal 2023 “Our fiscal second quarter of 2023 once again made clear the strength and durability in each one of our businesses,” said Karleen Oberton, Hologic’s chief financial officer. “We are raising our full-year guidance for both revenue and EPS, highlighting our confidence in the remainder of our fiscal year despite an uncertain macro environment.” Hologic’s financial guidance for the third quarter and full year 2023 is shown in the table below. The guidance is based on a full year non-GAAP tax rate of approximately 19.0%, and diluted shares outstanding of 250 million for the full year. Constant currency guidance assumes that foreign exchange rates are the same in fiscal 2023 as in fiscal 2022. Organic revenue guidance is in constant currency and excludes the divested Blood Screening business. Revenue from acquired businesses is generally included in organic revenue guidance starting a year after the acquisition. In fiscal 2023, Bolder is part of organic revenue starting in the fiscal second quarter. Current Guidance Previous Guidance Guidance $ Reported % Increase (Decrease) Constant Currency % Increase (Decrease) Organic % Increase (Decrease) Guidance $ Fiscal 2023 Revenue $3,925 - $4,025 (19.3%) to (17.2%) (18.5%) to (16.4%) (18.7%) to (16.6%) $3,850 - $4,000 GAAP EPS $2.91 - $3.11 (43.3%) to (39.4%) $2.69 - $2.99 Non-GAAP EPS $3.75 - $3.95 (37.7%) to (34.4%) $3.55 - $3.85 Q3 2023 Revenue $930 - $980 (7.2%) to (2.3%) (6.9%) to (1.9%) (6.8%) to (1.8%) GAAP EPS $0.64 - $0.74 (28.9%) to (17.8%) Non-GAAP EPS $0.83 - $0.93 (12.6%) to (2.1%) This guidance assumes low double-digit constant currency organic revenue growth ex. COVID-19 for the total Company for the full-year fiscal 2023. Use of Non-GAAP Financial Measures The Company has presented the following non-GAAP financial measures in this press release: constant currency revenues; organic revenues; organic revenues excluding COVID-19, non-GAAP gross margin; non-GAAP operating expenses; non-GAAP operating margin; non-GAAP effective tax rate; non-GAAP net income; non-GAAP net margin; non-GAAP EPS; adjusted EBITDA; and adjusted ROIC. Organic revenue for the fiscal second quarter of 2023 excludes the divested Blood Screening business. Revenue from acquired businesses is generally included in organic revenue starting a year after the acquisition. Organic revenue excluding COVID-19 revenues is organic revenue less COVID assay revenue, COVID related sales of instruments, collection kits and ancillaries, COVID related revenue from Diagenode and Mobidiag, as well as COVID related license revenue, and revenues from discontinued products. The Company defines its non-GAAP net income, EPS, and other non-GAAP financial measures to exclude, as applicable: (i) the amortization of intangible assets and impairment of goodwill and intangible assets; (ii) adjustments to record contingent consideration at fair value; (iii) additional expenses resulting from the purchase accounting adjustment to record inventory at fair value; (iv) restructuring charges, facility closure and consolidation charges (including accelerated depreciation), and costs incurred to integrate acquisitions (including retention, transaction bonuses, legal and professional consulting services); (v) expenses related to the divested Cynosure business incurred subsequent to the disposition date primarily related to indemnification provisions for legal and tax matters; (vi) transaction related expenses for acquisitions; (vii) third-party expenses incurred related to implementing the European MDR/IVDR requirements and obtaining the appropriate approvals for its existing products; (viii) debt extinguishment losses and related transaction costs; (ix) the unrealized (gains) losses on the mark-to-market of foreign currency contracts for which the Company has not elected hedge accounting; (x) litigation settlement charges (benefits) and non-income tax related charges (benefits); (xi) other-than-temporary impairment losses on investments and realized gains and losses resulting from the sale of investments; (xii) the one-time discrete impacts related to internal restructurings and non-operational items; (xiii) other one-time, non-recurring, unusual or infrequent charges, expenses or gains that may not be indicative of the Company's core business results; and (xiv) income taxes related to such adjustments. The Company defines adjusted EBITDA as its non-GAAP net income plus net interest expense, income taxes, and depreciation and amortization expense included in its non-GAAP net income. The Company defines its adjusted ROIC as its non-GAAP operating income tax effected by its non-GAAP effective tax rate divided by the sum of its average net debt and stockholders’ equity, which is adjusted to exclude the effects of goodwill and intangible impairment charges. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. The Company's definition of these non-GAAP measures may differ from similarly titled measures used by others. The non-GAAP financial measures used in this press release adjust for specified items that can be highly variable or difficult to predict. The Company generally uses these non-GAAP financial measures to facilitate management's financial and operational decision-making, including evaluation of Hologic's historical operating results, comparison to competitors' operating results and determination of management incentive compensation. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company's operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures, may provide a more complete understanding of factors and trends affecting Hologic's business. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company's reported results of operations, management strongly encourages investors to review the Company's consolidated financial statements and publicly filed reports in their entirety. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is included in the tables accompanying this release. Conference Call and Webcast Hologic’s management will host a conference call at 4:30 p.m. ET today to discuss its financial results for the second quarter of fiscal 2023. Interested participants may listen to the call by dialing 888-600-4862 (in the U.S. and Canada) or +1 773-305-6865 (for international callers) and referencing access code 2312014. Participants may also click to join . Participants should dial in 5-10 minutes before the call begins. The Company will also provide a live webcast of the call at investors.hologic.com . A replay of the call will be available at investors.hologic.com approximately two hours after the call ends through Monday, May 29, 2023. About Hologic, Inc. Hologic, Inc. is an innovative medical technology company primarily focused on improving women's health and well-being through early detection and treatment. For more information on Hologic, visit www.hologic.com . Hologic and associated logos are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries. Forward-Looking Statements This news release contains forward-looking information that involves risks and uncertainties, including statements about the Company’s plans, objectives, expectations and intentions. Such statements include, without limitation: financial or other information based upon or otherwise incorporating judgments or estimates relating to future performance, events or expectations; the Company’s strategies, positioning, resources, capabilities, and expectations for future performance; and the Company's outlook and financial and other guidance. These forward-looking statements are based upon assumptions made by the Company as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Risks and uncertainties that could adversely affect the Company’s business and prospects, and otherwise cause actual results to differ materially from those anticipated, include without limitation: the ongoing and possible future effects of global challenges, including macroeconomic uncertainties, the war in Ukraine, other economic disruptions and U.S. and global recession concerns, on the Company’s customers and suppliers and on the Company’s business, financial condition, results of operations and cash flows and the Company’s ability to draw down its revolver; the effect of the worldwide political and social uncertainty and divisions, including the impact on trade regulation and tariffs, that may adversely impact the cost and sale of the Company’s products in certain countries, or increase the costs the Company may incur to purchase materials, parts and equipment from its suppliers; the ongoing and possible future effects of supply chain constraints, including the availability of critical raw materials and components, including semiconductor chips, as well as cost inflation in materials, packaging and transportation; the possibility of interruptions or delays at the Company’s manufacturing facilities, or the failure to secure alternative suppliers if any of the Company’s sole source third-party manufacturers fail to supply the Company; the development of new competitive technologies and products and competition; the Company’s ability to predict accurately the demand for its products, and products under development and to develop strategies to address markets successfully; continued demand for the Company’s COVID-19 assays; the timing, scope and effect of further U.S. and international governmental, regulatory, fiscal, monetary and public health responses to the COVID-19 pandemic and any future public health crises; potential cybersecurity threats and targeted computer crime; the ability to execute acquisitions and the impact and anticipated benefits of completed acquisitions and acquisitions the Company may complete in the future; the ability to consolidate certain of the Company’s manufacturing and other operations on a timely basis and within budget, without disrupting its business and to achieve anticipated cost synergies related to such actions; the ability of the Company to successfully manage leadership and organizational changes, including the ability of the Company to attract, motivate and retain key employees and maintain engagement and efficiency in remote work environments; the ability to obtain regulatory approvals and clearances for the Company’s products, including the implementation of the European Union Medical Device Regulations, and to maintain compliance with complex and evolving regulations; the Company’s reliance on third-party reimbursement policies to support the sales and market acceptance of its products, including the possible adverse impact of government regulation and changes in the availability and amount of reimbursement and uncertainties for new products or product enhancements; changes to applicable laws and regulations, including tax laws, global health care reform, and import/export trade laws; changes in guidelines, recommendations and studies published by various organizations that could affect the use of the Company’s products; uncertainties inherent in the development of new products and the enhancement of existing products, including FDA approval and/or clearance and other regulatory risks, technical risks, cost overruns and delays; the risk that products may contain undetected errors or defects or otherwise not perform as anticipated; risks associated with strategic alliances and the ability of the Company to realize anticipated benefits of those alliances; the risks of conducting business internationally; the risk of adverse exchange rate fluctuations on the Company’s international activities and businesses; the early stage of market development for certain of the Company’s products; the Company’s leverage risks, including the Company’s obligation to meet payment obligations and financial covenants associated with its debt; risks related to the use and protection of intellectual property; expenses, uncertainties and potential liabilities relating to litigation, including, without limitation, commercial, intellectual property, employment and product liability litigation; and technical innovations that could render products marketed or under development by the Company obsolete. The risks included above are not exhaustive. Other factors that could adversely affect the Company's business and prospects are described in the filings made by the Company with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in expectations or any change in events, conditions or circumstances on which any such statements are based. SOURCE: Hologic, Inc. HOLOGIC, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per share data) Three Months Ended Six Months Ended April 1, 2023 March 26, 2022 April 1, 2023 March 26, 2022 Revenues : Product $ 837.4 $ 1,268.2 $ 1,723.8 $ 2,571.6 Service and other 189.1 167.5 376.9 335.3 Total revenues 1,026.5 1,435.7 2,100.7 2,906.9 Cost of revenues: Product 292.1 322.6 588.3 640.7 Amortization of acquired intangible assets 52.1 72.3 107.7 147.2 Service and other 96.5 94.2 201.0 186.1 Gross profit 585.8 946.6 1,203.7 1,932.9 Operating expenses: Research and development 74.0 69.5 148.8 142.3 Selling and marketing 142.4 171.4 305.9 318.7 General and administrative 100.8 100.5 209.3 218.5 Amortization of acquired intangible assets 7.1 11.3 14.7 22.1 Contingent consideration fair value adjustments (12.4 ) — (12.4 ) (4.1 ) Restructuring charges 1.8 (0.2 ) 2.9 — Total operating expenses 313.7 352.5 669.2 697.5 Income from operations 272.1 594.1 534.5 1,235.4 Interest income 31.5 0.8 52.1 1.2 Interest expense (27.2 ) (22.6 ) (55.3 ) (48.3 ) Debt extinguishment loss — — — (0.7 ) Other income (expense), net 2.9 2.1 (12.9 ) 8.7 Income before income taxes 279.3 574.4 518.4 1,196.3 Provision for income taxes 60.8 118.7 112.5 241.4 Net income $ 218.5 $ 455.7 $ 405.9 $ 954.9 Net income per common share attributable to Hologic: Basic $ 0.88 $ 1.81 $ 1.64 $ 3.78 Diluted $ 0.87 $ 1.80 $ 1.63 $ 3.75 Weighted average number of shares outstanding: Basic 247,730 251,574 247,524 252,537 Diluted 249,793 253,658 249,537 254,864 HOLOGIC, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions) April 1, 2023 September 24, 2022 ASSETS Current assets: Cash and cash equivalents $ 2,582.2 $ 2,339.5 Accounts receivable, net 714.0 617.6 Inventories 687.6 623.7 Other current assets 227.6 281.2 Total current assets 4,211.4 3,862.0 Property, plant and equipment, net 497.9 481.6 Goodwill and intangible assets 4,499.1 4,517.1 Other assets 240.3 210.5 Total assets $ 9,448.7 $ 9,071.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities : Current portion of long-term debt $ 26.2 $ 15.0 Accounts payable and accrued liabilities 698.3 736.2 Deferred revenue 230.5 186.5 Total current liabilities 955.0 937.7 Long-term debt, net of current portion 2,797.7 2,808.4 Deferred income taxes 33.4 90.8 Other long-term liabilities 361.8 358.1 Total stockholders' equity 5,300.8 4,876.2 Total liabilities and stockholders’ equity $ 9,448.7 $ 9,071.2 HOLOGIC, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) Six Months Ended April 1, 2023 March 26, 2022 OPERATING ACTIVITIES Net income $ 405.9 $ 954.9 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 44.3 44.9 Amortization of acquired intangibles 122.4 169.2 Stock-based compensation expense 43.7 36.5 Deferred income taxes (61.6 ) (41.5 ) Contingent consideration fair value adjustments (12.4 ) (4.1 ) Other adjustments and non-cash items 29.6 23.5 Changes in operating assets and liabilities, excluding the effect of acquisitions: Accounts receivable (81.8 ) 101.6 Inventories (56.1 ) (26.4 ) Prepaid income taxes 8.3 (6.4 ) Prepaid expenses and other assets 10.5 355.3 Accounts payable (13.2 ) 9.1 Accrued expenses and other liabilities (22.4 ) 2.9 Deferred revenue 42.5 6.9 Net cash provided by operating activities 459.7 1,626.4 INVESTING ACTIVITIES Acquisition of businesses, net of cash acquired — (158.4 ) Capital expenditures (34.5 ) (36.1 ) Proceeds from the Department of Defense 20.5 58.7 Increase in equipment under customer usage agreements (26.7 ) (33.8 ) Purchase of equity investment (10.0 ) — Other activity (6.7 ) 5.2 Net cash used in investing activities (57.4 ) (164.4 ) FINANCING ACTIVITIES Proceeds from long-term debt, net of issuance costs — 1,491.2 Repayments of long-term debt (7.5 ) (1,387.5 ) Payment of contingent consideration (7.6 ) (12.2 ) Payment of deferred acquisition consideration (0.8 ) — Repayment of acquired long-term debt — (63.6 ) Repurchases of common stock (150.0 ) (367.0 ) Proceeds from issuance of common stock pursuant to employee stock plans 28.4 17.3 Payment of minimum tax withholdings on net share settlements of equity awards (23.2 ) (22.5 ) Payments under finance lease obligations (2.3 ) (1.7 ) Net cash used in financing activities (163.0 ) (346.0 ) Effect of exchange rate changes on cash and cash equivalents 3.4 4.5 Net increase in cash and cash equivalents 242.7 1,120.5 Cash and cash equivalents, beginning of period 2,339.5 1,170.3 Cash and cash equivalents, end of period $ 2,582.2 $ 2,290.8 HOLOGIC, INC. RECONCILIATION OF GAAP TO NON-GAAP RESULTS (Unaudited) (In millions, except earnings per share and margin percentages) Reconciliation of GAAP Revenue to Organic Revenue Three Months Ended Six Months Ended April 1, 2023 March 26, 2022 April 1, 2023 March 26, 2022 Consolidated GAAP Revenue $ 1,026.5 $ 1,435.7 $ 2,100.7 $ 2,906.9 Less: Blood Screening revenue (10.6 ) (9.2 ) (17.9 ) (15.6 ) Less: Revenue from Acquisitions* — — (4.4 ) (0.7 ) Organic Revenue $ 1,015.9 $ 1,426.5 $ 2,078.4 $ 2,890.6 Less: COVID-19 Assays (71.2 ) (584.1 ) $ (198.1 ) $ (1,106.9 ) Less: COVID-19 Related Revenue ** (26.5 ) (77.4 ) (62.8 ) (150.8 ) Less: Discontinued Product Revenue (1.4 ) (2.2 ) (2.5 ) (4.5 ) Organic Revenue excluding COVID-19 $ 916.8 $ 762.8 $ 1,815.0 $ 1,628.4 *Represents revenue from acquisitions until a transaction annualizes and becomes organic. In the year following when a transaction annualizes, the acquisitions' revenue is not excluded from the prior year revenue amount as the acquisition's results are in both periods. **Revenues estimated to be related to COVID assay sales for instruments, collection kits and ancillaries. Three Months Ended Six Months Ended April 1, 2023 March 26, 2022 April 1, 2023 March 26, 2022 Gross Profit: GAAP gross profit $ 585.8 $ 946.6 $ 1,203.7 $ 1,932.9 Adjustments: Amortization of acquired intangible assets (1) 52.1 72.3 107.7 147.2 Non-GAAP gross profit $ 637.9 $ 1,018.9 $ 1,311.4 $ 2,080.1 Gross Margin Percentage: GAAP gross margin percentage 57.1 % 65.9 % 57.3 % 66.5 % Impact of adjustments above 5.0 % 5.1 % 5.1 % 5.1 % Non-GAAP gross margin percentage 62.1 % 71.0 % 62.4 % 71.6 % Operating Expenses: GAAP operating expenses $ 313.7 $ 352.5 $ 669.2 $ 697.5 Adjustments: Amortization of acquired intangible assets (1) (7.1 ) (11.3 ) (14.7 ) (22.1 ) Transaction expenses (2) (0.3 ) (0.1 ) (0.3 ) (0.9 ) MDR expenses (8) (0.3 ) (1.9 ) (1.1 ) (3.9 ) Legal related settlements (10) (0.8 ) — (2.3 ) — Contingent consideration adjustments (5) 12.4 — 12.4 4.1 Integration/consolidation costs (7) (0.2 ) (2.3 ) (0.5 ) (3.2 ) Restructuring charges (7) (1.8 ) 0.2 (2.9 ) — Non-income tax charges (benefit), net (6) 1.4 1.1 (3.4 ) 0.5 Non-GAAP operating expenses $ 317.0 $ 338.2 $ 656.4 $ 672.0 Operating Margin: GAAP income from operations $ 272.1 $ 594.1 $ 534.5 $ 1,235.4 Adjustments to gross profit as detailed above 52.1 72.3 107.7 147.2 Adjustments to operating expenses as detailed above (3.3 ) 14.3 12.8 25.5 Non-GAAP income from operations $ 320.9 $ 680.7 $ 655.0 $ 1,408.1 Operating Margin Percentage: GAAP income from operations margin percentage 26.5 % 41.4 % 25.4 % 42.5 % Impact of adjustments above 4.8 % 6.0 % 5.8 % 5.9 % Non-GAAP operating margin percentage 31.3 % 47.4 % 31.2 % 48.4 % Pre-Tax Income: GAAP pre-tax income $ 279.3 $ 574.4 $ 518.4 $ 1,196.3 Adjustments to pre-tax earnings as detailed above 48.8 86.6 120.5 172.7 Debt extinguishment loss (4) — — — 0.7 Debt transaction costs (12) — — — 1.8 Equity method investment write-off (3) — — — 4.3 Gain on life insurance proceeds (13) — (2.3 ) — (2.3 ) Unrealized losses (gains) on foreign currency contracts (9) — 0.4 20.0 (7.8 ) Non-GAAP pre-tax income $ 328.1 $ 659.1 $ 658.9 $ 1,365.7 Net Income Attributable to Hologic: GAAP net income $ 218.5 $ 455.7 $ 405.9 $ 954.9 Adjustments: Amortization of acquired intangible assets (1) 59.2 83.6 122.4 169.3 Restructuring and integration/consolidation costs (7) 2.0 2.1 3.4 3.2 MDR expenses (8) 0.3 1.9 1.1 3.9 Legal related settlements (10) 0.8 — 2.3 — Transaction expenses (2) 0.3 0.1 0.3 0.9 Contingent consideration adjustments (5) (12.4 ) — (12.4 ) (4.1 ) Debt extinguishment loss and transaction costs (4) (12) — — — 2.5 Non-income tax charges (benefit), net (6) (1.4 ) (1.1 ) 3.4 (0.5 ) Non-operating charges (benefit) (3) (9) (13) — (1.9 ) 20.0 (5.8 ) Income tax related items (14) 12.1 3.9 21.9 (5.0 ) Income tax effect of reconciling items (11) (13.7 ) (20.1 ) (34.6 ) (40.4 ) Non-GAAP net income $ 265.7 $ 524.2 $ 533.7 $ 1,078.9 Net Income Percentage: GAAP net income percentage 21.3 % 31.7 % 19.3 % 32.8 % Impact of adjustments above 4.6 % 4.8 % 6.1 % 4.3 % Non-GAAP net income attributable to Hologic percentage 25.9 % 36.5 % 25.4 % 37.1 % Earnings Per Share Attributable to Hologic: GAAP earnings per share - Diluted $ 0.87 $ 1.80 $ 1.63 $ 3.75 Adjustment to net income (as detailed above) 0.19 0.27 0.51 0.48 Non-GAAP earnings per share – diluted $ 1.06 $ 2.07 $ 2.14 $ 4.23 EBITDA: GAAP net income $ 218.5 $ 455.7 $ 405.9 $ 954.9 Interest (income) expense, net (4.3 ) 21.8 3.2 47.1 Provision for income taxes 60.8 118.7 112.5 241.4 Depreciation expense 21.6 22.7 44.3 44.9 Amortization expense $ 59.2 $ 83.6 $ 122.4 $ 169.3 GAAP EBITDA $ 355.8 $ 702.5 $ 688.3 $ 1,457.6 Adjustments to net income, detailed above except amortization expense (10.4 ) 1.1 18.1 (1.7 ) Adjusted EBITDA $ 345.4 $ 703.6 $ 706.4 $ 1,455.9 Explanatory Notes to Reconciliations: (1) To reflect non-cash expenses attributable to the amortization of acquired intangible assets. (2) To reflect expenses with third parties related to acquisitions prior to when such transactions are completed. These expenses primarily comprise broker fees, legal fees, and consulting and due diligence fees. (3) To write off an equity method investment acquired in the Mobidiag acquisition. (4) To reflect a debt extinguishment loss from refinancing the Credit Agreement in first quarter of fiscal 2022. (5) To reflect adjustments in fiscal 2023 and fiscal 2022 to the estimated contingent consideration liability related to the Acessa Health acquisition, which is payable upon meeting defined revenue growth metrics. (6) To reflect the net impact of establishing a non-income tax loss contingency related to prior years and the settlement of a prior year non-income tax audit. (7) To reflect restructuring charges, and certain costs associated with the Company’s integration and facility consolidation plans, which primarily include retention and transfer costs, as well as costs incurred to integrate acquisitions, including consulting, legal, tax and accounting fees. In addition, this category includes additional expenses incurred in fiscal 2022 related to the Cynosure disposition and settlements of litigation and indemnification provisions for legal and tax matters that existed as of the date of disposition. (8) To reflect the exclusion of third party expenses incurred to obtain compliance with the European Medical Device Regulation requirement for the Company's existing products for which it already has FDA approval and/or CE mark. (9) To reflect non-cash unrealized gains and losses on the mark-to market on outstanding forward foreign currency contracts, which have not been designated for hedge accounting. (10) To reflect net charges and benefits from legal related settlements. (11) To reflect the tax effect of the Non-GAAP reconciling items, which is based on the effective tax rate in the jurisdiction to which the adjustment relates. (12) To reflect the amount of debt issuance costs recorded directly to interest expense as a result of refinancing the Credit Agreement in first quarter of fiscal 2022. (13) To reflect a gain on life insurance proceeds received during the second quarter of fiscal 2022. (14) To reflect an estimated annual effective tax rate of 19.0% for fiscal 2023 and 21.0% for fiscal 2022, including non-recurring income tax charges and benefits, and interest related to prior years’ income tax reserves. Reconciliation of GAAP to non-GAAP EPS Guidance: Guidance Range Guidance Range Quarter Ending July 1, 2023 Year Ending September 30, 2023 Low High Low High GAAP Net Income Per Share $0.64 $0.74 $2.91 $3.11 Amortization of acquired intangible assets 0.23 0.23 0.96 0.96 Restructuring, Integration and Other charges 0.01 0.01 0.05 0.05 Contingent Consideration Fair Value Adjustment - - (0.05 ) (0.05 ) Non-operating charges - - 0.08 0.08 Tax Impact of Exclusions (0.05 ) (0.05 ) (0.20 ) (0.20 ) Non-GAAP Net Income Per Share $0.83 $0.93 $3.75 $3.95 Trailing Twelve Months Ended April 1, 2023 Return on Invested Capital: GAAP ROIC Adjustments Adjusted ROIC Adjusted Net Operating Profit After Tax Net Income $ 753.0 $ 229.7 $ 982.7 Plus: Provision for income taxes 157.3 87.2 244.5 Interest expense 102.2 — 102.2 Other income (73.1 ) (11.8 ) (84.9 ) Adjusted net operating profit before tax $ 939.4 $ 305.1 $ 1,244.5 Effective tax rate (1) 17.2 % 20.0 % Adjusted net operating profit after tax $ 778.0 $ 218.3 $ 996.3 Average Net Debt plus Average Stockholders' Equity (2) Average total debt $ 2,946.8 $ — $ 2,946.8 Less: Average cash and cash equivalents (2,436.5 ) — (2,436.5 ) Average net debt $ 510.3 $ — $ 510.3 Average stockholders' equity (3) 5,046.8 1,368.5 6,415.3 Average net debt plus average stockholders' equity $ 5,557.1 $ 1,368.5 $ 6,925.6 Return on Invested Capital 14.0 % 14.4 % (1) ROIC is presented on a TTM basis and the tax rate for the TTM period is based on the average of each quarterly effective tax rate. (2) Calculated using the average of the balances as of April 1, 2023 and March 26, 2022. (3) For Adjusted ROIC, stockholder's equity is adjusted (increased) to eliminate the effect of the impairment of intangible assets of $32.2 million in fiscal 2014, the impairment of goodwill of $685.7 million and an IPR&D asset of $46.0 million in fiscal 2018, the impairment of intangible assets and equipment of $685.4 million in fiscal 2019 and the impairment of intangible assets and equipment of $30.2 million in fiscal 2020 and the impairment of acquired intangible assets of $45.1 million in fiscal 2022. The impact of the intangible asset impairment charges is reflected net of tax. As of April 1, 2023 GAAP Net Leverage Ratio Adjusted Net Leverage Ratio Net Leverage Ratio: Total principal debt $ 2,842.5 $ 2,842.5 Total cash (2,582.2 ) (2,582.2 ) Net principal debt $ 260.3 $ 260.3 EBITDA for the last four quarters $ 1,331.4 $ 1,354.2 Net Leverage Ratio 0.2 0.2 Other Supplemental Information: Three Months Ended Six Months Ended April 1, 2023 March 26, 2022 April 1, 2023 March 26, 2022 Geographic Revenues U.S. 74.9 % 69.1 % 75.8 % 69.0 % Europe 14.8 % 20.3 % 14.2 % 20.1 % Asia-Pacific 6.4 % 7.6 % 6.1 % 7.9 % Rest of World 3.9 % 3.0 % 3.9 % 3.0 % Total Revenues 100.0 % 100.0 % 100.0 % 100.0 %