PresentationDomenica MartoranaAssociate Director of Global Investor Relations Welcome to our next QIAGEN Deep Dive. Today, we will focus on our Sample Technologies business. The sample is the starting point of every discovery of every molecular workflow. Preparing a sample and getting the DNA and RNA out of it is the foundation of all molecular testing, and it's where QIAGEN began. Sample Technologies are at the core of what we do. And today, we will show you what makes this business so exciting, what makes ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $100.1 million, representing a 21% year-over-year increase [8][26] - Adjusted EBITDA reached $15.3 million, more than double compared to Q3 last year [9][28] - Cash collections in Q3 were exceptional, reaching 124% of testing services revenue [21][28] - The company raised its 2025 revenue guidance to $372-$376 million and adjusted EBITDA guidance to $35-$39 million [9][29] Business Line Data and Key Metrics Changes - Testing services revenue was $72.2 million, a 19% increase year-over-year, with approximately 50,300 tests delivered, up 13% [9][27] - Patient and digital solutions revenue was approximately $15.4 million, reflecting a 30% growth compared to last year [21][27] - Lab products revenue reached $12.5 million, up 22% year-over-year, driven by NGS transplant test kits and PCR-based rapid HLA typing kits [22][27] Market Data and Key Metrics Changes - The company noted that transplant volumes across all three solid organs remained relatively flat year-over-year, with a slight increase of about 1% [41] - Kidney transplant volumes did not accelerate as anticipated, attributed to media scrutiny affecting transplant practices [42] Company Strategy and Development Direction - The company is focused on solution selling, aiming to provide end-to-end care for transplant patients through innovative diagnostics and digital tools [5][6] - Recent appointments to the Board of Directors and executive team are expected to enhance the company's strategic direction and customer engagement [6][7] - The launch of HistoMap Kidney is part of the strategy to bridge diagnostics and patient outcomes, addressing unmet needs in transplant care [11][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth strategy, emphasizing the importance of patient-centric solutions [5][25] - The company anticipates continued growth in kidney transplant numbers over the next two to three years, despite current market challenges [42] - Management highlighted the transformative impact of revenue cycle management initiatives on cash collections and operational efficiency [20][28] Other Important Information - The company achieved a gross profit margin of 70.9%, an increase of 190 basis points [28] - The company has no debt and closed the quarter with $194.2 million in cash and cash equivalents [28] Q&A Session Summary Question: How should we think about the durability of ASPs moving forward? - Management indicated that strong cash collections on historical claims will increase base ASP, with a 5% increase observed over the last six months [33] Question: What are the expectations for Epic Aura integrations? - The company anticipates going live with about 40 centers in 2026, expecting a 10% uplift in volume post-integration [34][35] Question: Were there any prior period collections in the quarter? - Yes, approximately $5.9 million in cash collections exceeded historical claims [36] Question: What are the overall trends in transplant volume? - Management noted that transplant volumes have remained flat year-over-year, with expectations for growth in kidney transplants over the next few years [41][42] Question: Can you provide insight into the delta in patient testing frequency at centers with protocols? - Since the reinitiation of kidney surveillance protocols, growth in kidney volume has been nearly 20% year-over-year [49]