Core Insights - The company reported strong Q4 performance with revenue, organic growth, and adjusted earnings per share exceeding expectations, achieving an adjusted EPS of $5.06 for the year, which is above guidance [2][20] - The company emphasized resilience and disciplined capital allocation, having repurchased over $800 million in stock in 2025, totaling over $1.5 billion since mid-2023, representing approximately 12% of total shares at that time [2][20] - The launch of the AI model-as-a-service platform, SIGNALS Synthetica, and the acquisition of ACD Labs were highlighted as key strategic moves [2][20] Financial Performance Analysis - Q4 total revenue reached $772 million, with organic growth of 4% and a foreign exchange tailwind of 2%, while the full-year revenue was $2.86 billion, with organic growth of 3% [3][21] - Adjusted EPS for Q4 was $1.70, exceeding the high end of guidance by $0.06, and the full-year adjusted EPS was $5.06, reflecting a 3% year-over-year increase [3][21] - Free cash flow for Q4 was $162 million, with an adjusted net income conversion rate of 84%, and total free cash flow for the year was $515 million, with a conversion rate of 87% [3][21] Key Drivers - Revenue growth was driven by the diagnostics business, which saw organic growth of 7% in Q4, and life sciences reagents/consumables, which slightly exceeded expectations [4][22] - Profit margin pressures were attributed to tariffs, foreign exchange, and lower volume leverage, partially offset by cost control measures [4][22] - Ongoing stock repurchases supported earnings per share, with an average diluted share count of 113.2 million in Q4, a decrease of over 2 million shares quarter-over-quarter [4][22] Business Operations - The diagnostics segment generated $390 million in revenue for Q4, with a reported growth of 10% and organic growth of 7%, while the full-year organic growth was 4% [5][23] - The life sciences segment reported $382 million in revenue for Q4, with a 2% reported growth and flat organic growth, and a full-year organic growth of 2% [6][23] - The software business saw organic growth remain flat in Q4 but achieved high single-digit growth for the full year, with a nearly 40% increase in ARR from the SaaS channel [6][23] Market Expansion - Regional performance showed flat growth in the Americas and Asia-Pacific for Q4, while Europe experienced double-digit growth for the full year [7][24] - The Americas had low single-digit growth for the year, Europe had high single-digit growth, and Asia-Pacific saw a low single-digit decline [7][24] R&D Investments and Outcomes - The company launched the AI model-as-a-service platform SIGNALS Synthetica, integrating public and private AI/ML models to support drug development [8][25] - The acquisition of ACD Labs was completed, with plans to integrate its core products into the Signals One platform, expected to contribute over $20 million in revenue in 2026 [8][26] Operational Efficiency - Cost efficiency initiatives are being implemented, including footprint integration and supply chain collaboration, expected to be fully completed by the end of Q2 2026, supporting an adjusted operating margin of 28% for the year [9][27] Future Outlook and Planning - For 2026, the company projects organic growth of 2%-3%, total revenue between $2.96 billion and $2.99 billion, and adjusted EPS of $5.35-$5.45 [10][28] - The first quarter is expected to align with the annual guidance, with a foreign exchange tailwind of 3% and an adjusted operating margin of approximately 23% [10][28] Mid to Long-term Strategy - The company is focusing on the recovery of end markets, particularly in pharmaceutical biotechnology financing and M&A activity [11][29] - The software business aims to drive adoption of the SIGNALS Synthetica platform, targeting at least a doubling of revenue over the next 4-5 years with an organic growth rate close to 15% [11][29] - Capital allocation will balance stock buybacks, acquisitions (focusing on software and life sciences reagents), and internal investments while maintaining an investment-grade credit rating [11][29]

特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我 们的推送。 一 、 开场介绍 会议时间 ： 2 0 2 5年第四季度 主持人说明 ： 介绍会议目的为讨论2 0 2 5年第四季度业绩及2 0 2 6年初步展望 ； 提醒安全港声明及非GAAP财 务指标使用 ， 相关调节表已在收益新闻稿附件提供 。 管理层发言摘要 ： 普拉哈德 · 辛格 （ 总裁兼首席执行官 ） ： 2 0 2 5年为充满挑战与机遇的一年 ， Q4 业 绩 强 劲 ， 收入 、 有机增长及调整后每股收益均超预期 ， 全年调整后每股收益5 . 0 6美元 （ 超 指 引 ） ， 有机增长3% （ 符合指引 ） ； 强调公司韧性及资本配置纪律 ， 2 0 2 5年回购超8亿美元 股票 ， 自2 0 2 3年中以来累计回购超1 5亿美元 （ 约1 5 0 0万股 ， 占 当 时 总 股 本 1 2% ） ； 推 出AI模型即服务平台SIGNALS Sy n t h e ti c a ， 完成对ACD La b s收购并推进整合 。 资产负债表 ： 年底净债务与调整后EBITDA杠杆率2 . 7 ...