OSI Systems, Inc. (NASDAQ:OSIS) Q4 2022 Results Conference Call August 18, 2022 4:30 PM ET Company Participants Alan Edrick - Executive Vice President & Chief Financial Officer Conference Call Participants Brian Ruttenbur - Imperial Capital Larry Solow - CJS Securities Jeff Martin - ROTH Capital Partners Josh Nichols - B. Riley Alan Page - Jefferies Operator Hello, thank you for standing by and welcome to the OSI Systems, Inc. Fourth Quarter 2012 Conference Call. At this time, all participants are in a list ...

SECURITY, OPTOELECTRONICS AND HEALTHCARE SOLUTIONS FOR A SAFER & HEALTHIER WORLD Investor Presentation May 2022 1 Safe Harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to the Company's current expectations, beliefs, and projections concerning matters that are not his ...

SECURITY, OPTOELECTRONICS AND HEALTHCARE April 2022 SOLUTIONS FOR A SAFER & HEALTHIER WORLD Investor Presentation 1 Safe Harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to the Company's current expectations, beliefs, and projections concerning matters that are not h ...

OSI Systems, Inc. (NASDAQ:OSIS) Q3 2022 Results Conference Call April 28, 2022 4:30 PM ET Company Participants Alan Edrick - Executive Vice President and Chief Financial Officer Deepak Chopra - President and Chief Executive Officer Conference Call Participants Brian Ruttenbur - Imperial Capital Larry Solow - CJS Securities Josh Nichols - B. Riley Sheila Kahyaoglu - Jefferies Jeff Martin - ROTH Capital Partners Operator Good day and thank you for standing by. Welcome to the OSI Systems, Inc. Third Quarter 20 ...

[PART I — FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements and management's discussion for the three and nine months ended March 31, 2022 [Financial Statements (Unaudited)](index=3&type=section&id=Item%201%20%E2%80%94%20Financial%20Statements%20(Unaudited)) This section provides the unaudited condensed consolidated financial statements, including balance sheets, income statements, and cash flows, with accompanying notes Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2021 | March 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $709,404 | $758,536 | | **Total assets** | $1,384,367 | $1,459,091 | | **Total current liabilities** | $344,767 | $645,836 | | **Total liabilities** | $744,547 | $840,597 | | **Total stockholders' equity** | $639,820 | $618,494 | Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended Mar 31, 2022 | Three Months Ended Mar 31, 2021 | Nine Months Ended Mar 31, 2022 | Nine Months Ended Mar 31, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Total net revenues** | $290,477 | $283,787 | $846,415 | $814,704 | | **Gross profit** | $102,858 | $104,019 | $301,961 | $301,851 | | **Income from operations** | $28,426 | $32,466 | $82,192 | $81,517 | | **Other income, net** | $27,373 | $— | $27,373 | $— | | **Net income** | $42,735 | $18,773 | $81,584 | $48,155 | | **Diluted EPS** | $2.41 | $1.03 | $4.52 | $2.63 | Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Nine Months Ended Mar 31, 2022 | Nine Months Ended Mar 31, 2021 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $41,813 | $131,053 | | **Net cash used in investing activities** | ($6,587) | ($26,163) | | **Net cash used in financing activities** | ($30,857) | ($91,414) | | **Net change in cash and cash equivalents** | $2,666 | $16,363 | [Note 2: Business Combinations](index=14&type=section&id=Note%202.%20Business%20Combinations) The Security division completed two acquisitions in February 2022, including an intelligent inspection solutions provider and a sales and services company - Acquired a provider of intelligent inspection solutions for approximately **$14 million**, with potential contingent consideration up to **$25 million**[36](index=36&type=chunk) - Acquired a sales and services company for approximately **$1.1 million**[37](index=37&type=chunk) [Note 4: Goodwill and Intangible Assets](index=16&type=section&id=Note%204.%20Goodwill%20and%20Intangible%20Assets) Consolidated goodwill and net intangible assets increased as of March 31, 2022, primarily due to Security division acquisitions Goodwill by Segment (in thousands) | Segment | Balance as of June 30, 2021 | Balance as of March 31, 2022 | | :--- | :--- | :--- | | Security Division | $206,426 | $224,109 | | Healthcare Division | $43,584 | $43,403 | | Optoelectronics and Manufacturing Division | $70,294 | $69,143 | | **Consolidated** | **$320,304** | **$336,655** | - Net intangible assets increased to **$139.8 million** at March 31, 2022, from **$127.6 million** at June 30, 2021[42](index=42&type=chunk) [Note 6: Leases](index=17&type=section&id=Note%206.%20Leases) The company completed a sale-leaseback transaction for its Hawthorne, CA property, recognizing a significant gain and increasing lease liabilities - Completed a sale-leaseback of its Hawthorne, CA property for **$32 million**, recognizing a gain of **$27.4 million**[52](index=52&type=chunk) - Total operating lease liabilities increased to **$37.5 million** at March 31, 2022, up from **$23.8 million** at June 30, 2021[53](index=53&type=chunk) [Note 8: Borrowings](index=21&type=section&id=Note%208.%20Borrowings) The senior secured credit facility was increased to $750 million, and the company repurchased $40.2 million of convertible notes during the quarter - Amended and increased the senior secured credit facility to **$750 million** in December 2021[59](index=59&type=chunk) - Repurchased and cancelled approximately **$40.2 million** of principal value of the 1.25% Convertible Senior Notes during the quarter[67](index=67&type=chunk) Long-Term Debt Composition (in thousands) | Debt Instrument | June 30, 2021 | March 31, 2022 | | :--- | :--- | :--- | | 1.25% convertible notes (net) | $275,634 | $246,802 | | Term loan | $— | $50,000 | | Other long-term debt | $1,633 | $1,221 | | **Total** | **$277,267** | **$298,023** | [Note 9: Stockholders' Equity](index=24&type=section&id=Note%209.%20Stockholders'%20Equity) The company repurchased over 1.1 million shares of common stock during the nine-month period, with additional shares available for repurchase - Repurchased **1,117,258 shares** of common stock during the nine months ended March 31, 2022[76](index=76&type=chunk) - As of March 31, 2022, **1,430,737 shares** remained available for repurchase under the authorized program[76](index=76&type=chunk) [Note 10: Commitments and Contingencies](index=25&type=section&id=Note%2010.%20Commitments%20and%20Contingencies) The company settled a $12.5 million lawsuit and saw an increase in acquisition-related contingent consideration liabilities - Settled the Arkansas Teacher Retirement System lawsuit for **$12.5 million**, which was paid during the quarter, with **$4.5 million** reimbursed by insurance during the quarter and the remaining **$8.0 million** in April 2022[89](index=89&type=chunk) - The fair value of contingent consideration liability related to acquisitions increased from **$19.4 million** at June 30, 2021, to **$28.3 million** at March 31, 2022[81](index=81&type=chunk) [Note 12: Segment Information](index=31&type=section&id=Note%2012.%20Segment%20Information) The Security division was the largest contributor to revenue and income from operations for the nine months ended March 31, 2022 Revenues by Segment (in thousands) | Segment | Nine Months Ended Mar 31, 2022 | Nine Months Ended Mar 31, 2021 | | :--- | :--- | :--- | | Security division | $454,079 | $431,420 | | Healthcare division | $155,191 | $160,421 | | Optoelectronics and Manufacturing division | $275,917 | $257,713 | Income from Operations by Segment (in thousands) | Segment | Nine Months Ended Mar 31, 2022 | Nine Months Ended Mar 31, 2021 | | :--- | :--- | :--- | | Security division | $60,323 | $52,651 | | Healthcare division | $20,430 | $25,640 | | Optoelectronics and Manufacturing division | $34,342 | $29,638 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%202%20%E2%80%94%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 and YTD FY2022 financial results, highlighting revenue growth, gross margin changes, and ongoing global uncertainties - Key trends and uncertainties affecting the business include the COVID-19 pandemic, global economic conditions, supply chain disruptions, and the Russia-Ukraine conflict[108](index=108&type=chunk)[109](index=109&type=chunk)[114](index=114&type=chunk)[115](index=115&type=chunk) Net Revenues by Segment - Q3 FY2022 vs Q3 FY2021 (in millions) | Segment | Q3 Fiscal 2022 | Q3 Fiscal 2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Security | $158.6 | $151.4 | $7.2 | 4.8% | | Healthcare | $52.2 | $54.0 | ($1.8) | (3.3)% | | Optoelectronics and Manufacturing | $79.7 | $78.4 | $1.3 | 1.7% | | **Total net revenues** | **$290.5** | **$283.8** | **$6.7** | **2.4%** | Net Revenues by Segment - YTD Q3 FY2022 vs YTD Q3 FY2021 (in millions) | Segment | YTD Q3 Fiscal 2022 | YTD Q3 Fiscal 2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Security | $454.1 | $431.4 | $22.7 | 5.3% | | Healthcare | $155.2 | $160.4 | ($5.2) | (3.2)% | | Optoelectronics and Manufacturing | $237.1 | $222.9 | $14.2 | 6.4% | | **Total net revenues** | **$846.4** | **$814.7** | **$31.7** | **3.9%** | - Cash from operations for the nine months ended March 31, 2022, was **$41.8 million**, a decrease from **$131.1 million** in the prior-year period, driven by increases in inventory and other working capital changes[142](index=142&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=33&type=section&id=Item%203%20%E2%80%94%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in market risk exposure have occurred since the fiscal year ended June 30, 2021 - There have been no material changes in the company's exposure to market risk since the fiscal year ended June 30, 2021[151](index=151&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204%20%E2%80%94%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes in internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2022[152](index=152&type=chunk) - No changes in internal control over financial reporting occurred during the third quarter of fiscal 2022 that have materially affected, or are reasonably likely to materially affect, internal controls[153](index=153&type=chunk) [PART II — OTHER INFORMATION](index=34&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section covers legal proceedings, updated risk factors, equity security sales, and a list of exhibits filed with the report [Legal Proceedings](index=34&type=section&id=Item%201%20%E2%80%94%20Legal%20Proceedings) This section refers to Note 10 for detailed information on various claims and litigation in the ordinary course of business - For detailed information on legal proceedings, the report refers to Note 10, "Commitments and Contingencies" in Part I, Item 1[156](index=156&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A%20%E2%80%94Risk%20Factors) A new risk factor concerning the Russia-Ukraine conflict has been added, with no other material changes to previously disclosed risks - A new risk factor has been added regarding the Russia-Ukraine conflict, which may negatively impact operations due to sanctions, regional instability, and adverse effects on macroeconomic conditions[158](index=158&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202%20%E2%80%94%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details are provided on the company's stock repurchases during the quarter ended March 31, 2022 Issuer Purchases of Equity Securities (Quarter Ended March 31, 2022) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | January 2022 | 24,000 | $82.49 | | February 2022 | 405,130 | $80.94 | | March 2022 | 206,832 | $81.14 | | **Total** | **635,962** | **N/A** | [Exhibits](index=35&type=section&id=Item%206%20%E2%80%94%20Exhibits) This section lists the certifications and XBRL documents filed as exhibits to the Form 10-Q - Exhibits filed with this report include: * Certifications pursuant to Section 302 of the Sarbanes-Oxley Act (Exhibits 31.1, 31.2) * Certifications pursuant to Section 906 of the Sarbanes-Oxley Act (Exhibits 32.1, 32.2) * XBRL Instance Document and related taxonomy files (Exhibits 101.INS, 101.SCH, etc.)[164](index=164&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Table of Contents For the transition period from to Commission File Number 000-23125 OSI SYSTEMS, INC. FORM 10-Q (Exact name of registrant as specified in its charter) (Mark One) Delaware 33-0238801 (State or other jurisdiction of incorporation or organization) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECT ...

OSI System, Inc. (NASDAQ:OSIS) Q2 2022 Earnings Conference Call January 27, 2022 12:00 PM ET Company Participants Deepak Chopra – President and CEO Alan Edrick – EVP and CFO Conference Call Participants Brian Ruttenbur – Imperial Capital Jeff Martin – ROTH Capital Partners Christopher Glynn – Oppenheimer Larry Solow – CJS Securities Sheila Kahyaoglu – Jefferies Josh Nichols – B. Riley Securities Operator Good day, and thank you for standing by. Welcome to the OSI Systems, Inc., Second Quarter 2022 Conferenc ...

Financial Performance & Growth - OSI Systems' revenue for the fiscal year ended June 30, 2021, was $1146 million[7,9] - The company projects FY22 revenue between $1190 million and $1225 million[9] - Non-GAAP EPS for FY21 was $532[9] - The company projects FY22 Non-GAAP EPS between $572 and $600[9] - Q1 FY22 sales increased by 9% to $279 million compared to $255 million in Q1 FY21[12] - Q1 FY22 Non-GAAP EPS increased by 9% to $116 compared to $106 in Q1 FY21[12] Business Segments - Security division accounted for 55% of OSI Systems' revenue in FY21, which is equivalent to $11 billion[7] - Optoelectronics division accounted for 26% of OSI Systems' revenue in FY21[7] - Healthcare division accounted for 19% of OSI Systems' revenue in FY21[7] Geographical Revenue Distribution (FY21) - 50% of revenue came from the U S[7] - 23% of revenue came from EMEA (Europe, Middle East, and Africa)[7] - 20% of revenue came from APAC (Asia-Pacific)[7] - 7% of revenue came from Other Americas[7]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Table of Contents (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-23125 For the quarterly period ended September 30, 2021 OSI SYSTEMS, INC. (Exact name of registrant as specified in its charter) Delaware 33-0238801 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1 ...

OSI Systems, Inc. (NASDAQ:OSIS) Q1 2022 Earnings Conference Call October 28, 2021 12:00 PM ET Company Participants Alan Edrick - EVP and CFO Deepak Chopra - President and CEO Conference Call Participants Brian Ruttenbur - Imperial Capital Jeff Martin - ROTH Capital Partners Christopher Glynn - Oppenheimer Larry Solow - CJS Securities Sheila Kahyaoglu - Jefferies Josh Nichols - B. Riley Securities Operator Ladies and gentlemen, thank you for standing by. And welcome to the OSI Systems Inc. First Quarter 202 ...