Financial Data and Key Metrics Changes - Net sales increased by 6% to $533 million, with core sales (excluding discontinued products) also rising by 6% at constant exchange rates [5][10][12] - Adjusted diluted EPS was $0.61, exceeding the outlook of at least $0.58 [8][16] - Adjusted operating income margin remained steady at 29.6% of sales, with cash generation strong at $466 million for the first nine months of 2025 [10][11][16] Business Line Data and Key Metrics Changes - QuantiFERON grew by 11%, driven by strong instrument placements and consumable demand [6][12] - Sample technologies returned to growth with a 3% increase in sales, while QIAcuity maintained double-digit growth [7][12] - QIAGEN Digital Insights delivered solid double-digit growth, supported by the integration of Genox [7][12] Market Data and Key Metrics Changes - Sales in the Americas rose by 7% at constant exchange rates, while EMEA grew by 4% [14] - The Asia-Pacific region saw a decline of 2%, primarily due to a mid-teens decline in China [14] Company Strategy and Development Direction - The company announced the acquisition of PARS Biosciences to expand into the AI-driven single-cell market, enhancing its sample technologies portfolio [5][22] - A $500 million synthetic share repurchase program was announced, aiming to return over $1 billion to shareholders by 2028 [5][11] - The company remains committed to achieving a 7% sales CAGR from 2024 to 2028 and aims to exceed a 31% adjusted operating income margin by the end of 2028 [5][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the challenging macro environment while maintaining solid growth [4][8] - The adjusted EPS target for 2025 was raised to about $2.38, reflecting improved profitability despite currency headwinds [8][25] - The company anticipates continued growth in core sales and expects to mitigate the impact of tariffs and the U.S. government shutdown [8][41] Other Important Information - The company is on track to launch new sample prep instruments and expand its syndromic testing portfolio [19][23] - R&D investments increased to 9.2% of sales, focusing on key growth pillars [15][16] - The company is preparing for a leadership transition, with the current CEO planning to step down after more than 10 years [9] Q&A Session Summary Question: Can you discuss the PARS acquisition and its competitive landscape? - The acquisition of PARS is strategic and synergistic, allowing QIAGEN to enter the fast-growing single-cell analysis market with instrument-free technology that processes millions of cells [30][32] Question: What is the traction for the new panels in syndromic testing? - QIAGEN Sack continues to deliver strong growth, particularly in GI and meningitis panels, with expectations to exceed midterm revenue guidance [34][36] Question: How have the new panels contributed to platform growth? - The three key panels have significantly contributed to U.S. performance, with more instruments placed in the first half of 2025 than in the entire previous year [37] Question: What is the impact of the U.S. government shutdown on sales? - The shutdown is expected to impact sales, particularly in academia and research, but the company has maintained its guidance for the year [41][43] Question: Can you elaborate on the tariff impact on margins? - The company expects a 90 basis point impact from tariffs, which is net of mitigation efforts, and does not anticipate a larger impact for the next year [45][46] Question: What are the expectations for 2026? - The company is positioned for growth between 5-7% in 2026, depending on market conditions, while maintaining a focus on profitability and cash generation [50][53]