Hologic (HOLX) The 44th Annual William Blair Growth Stock Conference summary

Company overview and strategic positioning

• Focuses on women's healthcare with market-leading products across diagnostics, breast health, and surgical divisions.

• Achieved transformation during the pandemic, leveraging COVID opportunities to become larger, faster-growing, and financially stronger.

• On track for $4 billion in revenue and over $4 EPS this year, with a robust cash position exceeding $2 billion.

• Each division has both organic and inorganic growth drivers, supported by a strong balance sheet.

Growth outlook and segment performance

• Long-term revenue growth outlook of 5%-7% through 2025, consistently met or exceeded since 2021.

• Molecular diagnostics expected to grow above 7%, driven by Panther instrument placements and assay expansion.

• Surgical division targets growth near 7%, fueled by strong product portfolio and recent acquisitions.

• Breast health expected to grow around 5%, with recurring service revenue as a stabilizing factor.

• International business growing at low double digits, with early-stage expansion beyond Western Europe.

Molecular diagnostics transformation

• Panther install base nearly doubled since the pandemic, now over 3,250 units, driving customer stickiness.

• 90% of customers run at least one non-COVID assay; new customers show strong multi-assay adoption.

• BV/CV assay revenue grew from $10M in 2019 to over $100M, with further growth expected.

• New respiratory and four-plex assays contribute to growth; future GI and hospital-acquired infection assays anticipated.

• Physician education and updated screening guidelines help expand mature markets.