Hologic, Inc. (HOLX) Q1 2023 Earnings Call Transcript

Hologic, Inc. (NASDAQ:HOLX) Q1 2023 Earnings Conference Call February 1, 2023 4:30 PM ET

Company Participants

Ryan Simon - VP, IR

Stephen MacMillan - Chairman, President and CEO

Karleen Oberton - CFO

Conference Call Participants

Patrick Donnelly - Citi

Jack Meehan - Nephron Research

Max Masucci - Cowen & Company

Puneet Souda - SVB Securities

Vijay Kumar - Evercore ISI

Tim Daley - Wells Fargo

Tejas Savant - Morgan Stanley

Derik de Bruin - Bank of America

Dustin Scaringe - William Blair

Navann Ty - BNP Paribas Exane

Operator

Good afternoon, and welcome to Hologic's First Quarter Fiscal 2023 Earnings Conference Call. My name is Justin, and I am your operator for today's call. Today's conference is being recorded. All lines have been placed on mute.

I would now like introduce Ryan Simon, Vice President, Investor Relations to begin the call.

Ryan Simon

Thank you, Justin. Good afternoon and thank you for joining Hologic's first quarter fiscal 2023 earnings call.

With me today are Steve McMillan, the company's Chairman, President and Chief Executive Officer; and Karleen Oberton, our Chief Financial Officer. Our first quarter press release is available now on the Investors section of our website. We will also post our prepared remarks to our website shortly after we deliver them, as well as an updated corporate presentation. And a replay of this call will be available for the next 30 days.

Before we begin, we would like to inform you that certain statements we make today will be forward-looking. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Such factors include those referenced in the safe harbor statement included in our earnings release and SEC filings.

During this call, we will discuss certain non-GAAP financial measures. A reconciliation to GAAP can be found in our earnings release. Two of these non-GAAP measures are: one, organic revenue, which we define as constant currency revenue excluding the divested Blood Screening business and revenue from acquired businesses owned by Hologic for less than one year. And two, organic revenue, excluding COVID-19, which excludes COVID-19 assay revenue, revenue related to COVID-19 and sales from discontinued product in Diagnostics. Finally, any percentage change we discuss will be on a year-over-year basis and revenue growth rates will be in constant currency unless otherwise noted.