MANAGEMENT'S USE OF NON-GAAP MEASURES
The following tables contain financial measures that are considered "non-GAAP" financial measures under applicable U.S. Securities and Exchange Commission rules and regulations. Management uses non-GAAP measures to monitor the financial performance of the business, make informed business decisions, establish budgets, and forecast future results. Performance targets for management are also based on certain non-GAAP financial measures. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, Haemonetics Corporation's (the "Company's") reported financial results prepared in accordance with U.S. GAAP. In the following tables, supplemental non-GAAP measures have been provided to assist investors in evaluating the performance of the Company's core operations and provide a baseline for analyzing trends in the Company's underlying businesses. We strongly encourage investors to review the Company's financial statements and publicly-filed reports in their entirety and not rely on any single financial measure.
When used in the following tables, organic revenue growth excludes the impact of currency fluctuation and acquisitions. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to similarly titled measures used by other companies.
May 9, 2024 | ||||||
Reconciliation of Fiscal Year 2024 Net Revenues to the Revised Revenue Reporting Structure | ||||||
In thousands | ||||||
Change | ||||||
Q1 FY24 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 138,610 | $ | 1,011 | $ | 139,621 |
Apheresis | 47,300 | 1,866 | 49,166 | |||
Whole Blood | 20,040 | - | 20,040 | |||
Blood Center | 67,340 | 1,866 | 69,206 | |||
Interventional Technologies(1) | 37,620 | - | 37,620 | |||
Blood Management Technologies(2) | 61,988 | 2,897 | 64,885 | |||
Hospital | 99,608 | 2,897 | 102,505 | |||
Net business unit revenues | 305,558 | 5,774 | 311,332 | |||
Service | 5,774 | (5,774) | - | |||
Total net revenues | $ | 311,332 | $ | - | $ | 311,332 |
Change | ||||||
Q2 FY24 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 141,900 | $ | 894 | $ | 142,794 |
Apheresis | 53,415 | 1,558 | 54,973 | |||
Whole Blood | 14,683 | - | 14,683 | |||
Blood Center | 68,098 | 1,558 | 69,656 | |||
Interventional Technologies(1) | 38,541 | - | 38,541 | |||
Blood Management Technologies(2) | 64,602 | 2,590 | 67,192 | |||
Hospital | 103,143 | 2,590 | 105,733 | |||
Net business unit revenues | 313,141 | 5,042 | 318,183 | |||
Service | 5,042 | (5,042) | - | |||
Total net revenues | $ | 318,183 | $ | - | $ | 318,183 |
Change | ||||||
Q3 FY24 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 146,805 | $ | 836 | $ | 147,641 |
Apheresis | 50,666 | 1,899 | 52,565 | |||
Whole Blood | 19,814 | - | 19,814 | |||
Blood Center | 70,480 | 1,899 | 72,379 | |||
Interventional Technologies(1) | 43,007 | - | 43,007 | |||
Blood Management Technologies(2) | 70,412 | 2,811 | 73,223 | |||
Hospital | 113,419 | 2,811 | 116,230 | |||
Net business unit revenues | 330,704 | 5,546 | 336,250 | |||
Service | 5,546 | (5,546) | - | |||
Total net revenues | $ | 336,250 | $ | - | $ | 336,250 |
Change | ||||||
Q4 FY24 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 138,629 | $ | 850 | $ | 139,479 |
Apheresis | 52,706 | 1,764 | 54,470 | |||
Whole Blood | 17,520 | - | 17,520 | |||
Blood Center | 70,226 | 1,764 | 71,990 | |||
Interventional Technologies(1) | 55,116 | - | 55,116 | |||
Blood Management Technologies(2) | 74,076 | 2,629 | 76,705 | |||
Hospital | 129,192 | 2,629 | 131,821 | |||
Net business unit revenues | 338,047 | 5,243 | 343,290 | |||
Service | 5,243 | (5,243) | - | |||
Total net revenues | $ | 343,290 | $ | - | $ | 343,290 |
Change | ||||||
FY 2024 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 565,944 | $ | 3,591 | $ | 569,535 |
Apheresis | 204,086 | 7,087 | 211,173 | |||
Whole Blood | 72,058 | - | 72,058 | |||
Blood Center | 276,144 | 7,087 | 283,231 | |||
Interventional Technologies(1) | 174,285 | - | 174,285 | |||
Blood Management Technologies(2) | 271,077 | 10,927 | 282,004 | |||
Hospital | 445,362 | 10,927 | 456,289 | |||
Net business unit revenues | 1,287,450 | 21,605 | 1,309,055 | |||
Service | 21,605 | (21,605) | - | |||
Total net revenues | $ | 1,309,055 | $ | - | $ | 1,309,055 |
- Interventional Technologies includes Vascular Closure and Sensor Guided Technologies product lines within the Hospital business unit.
- Blood Management Technologies includes Hemostasis Management, Cell Salvage and Transfusion Management product lines within the Hospital business unit.
May 9, 2024 | ||||||
Reconciliation of Fiscal Year 2023 Net Revenues to the Revised Revenue Reporting Structure | ||||||
In thousands | ||||||
Change | ||||||
Q1 FY23 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 102,381 | $ | 750 | $ | 103,131 |
Apheresis | 46,099 | 1,704 | 47,803 | |||
Whole Blood | 19,595 | - | 19,595 | |||
Blood Center | 65,694 | 1,704 | 67,398 | |||
Interventional Technologies(1) | 29,568 | - | 29,568 | |||
Blood Management Technologies(2) | 58,926 | 2,435 | 61,361 | |||
Hospital | 88,494 | 2,435 | 90,929 | |||
Net business unit revenues | 256,569 | 4,889 | 261,458 | |||
Service | 4,889 | (4,889) | - | |||
Total net revenues | $ | 261,458 | $ | - | $ | 261,458 |
Change | ||||||
Q2 FY23 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 127,893 | $ | 795 | $ | 128,688 |
Apheresis | 53,790 | 1,869 | 55,659 | |||
Whole Blood | 19,893 | - | 19,893 | |||
Blood Center | 73,683 | 1,869 | 75,552 | |||
Interventional Technologies(1) | 29,575 | - | 29,575 | |||
Blood Management Technologies(2) | 61,281 | 2,389 | 63,670 | |||
Hospital | 90,856 | 2,389 | 93,245 | |||
Net business unit revenues | 292,432 | 5,053 | 297,485 | |||
Service | 5,053 | (5,053) | - | |||
Total net revenues | $ | 297,485 | $ | - | $ | 297,485 |
Change | ||||||
Q3 FY23 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 135,461 | $ | 703 | $ | 136,164 |
Apheresis | 52,398 | 1,655 | 54,053 | |||
Whole Blood | 20,964 | - | 20,964 | |||
Blood Center | 73,362 | 1,655 | 75,017 | |||
Interventional Technologies(1) | 32,154 | - | 32,154 | |||
Blood Management Technologies(2) | 59,406 | 2,560 | 61,966 | |||
Hospital | 91,560 | 2,560 | 94,120 | |||
Net business unit revenues | 300,383 | 4,918 | 305,301 | |||
Service | 4,918 | (4,918) | - | |||
Total net revenues | $ | 305,301 | $ | - | $ | 305,301 |
Change | ||||||
Q4 FY23 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 131,188 | $ | 745 | $ | 131,933 |
Apheresis | 48,259 | 1,843 | 50,102 | |||
Whole Blood | 18,964 | - | 18,964 | |||
Blood Center | 67,223 | 1,843 | 69,066 | |||
Interventional Technologies(1) | 35,420 | - | 35,420 | |||
Blood Management Technologies(2) | 65,402 | 2,595 | 67,997 | |||
Hospital | 100,822 | 2,595 | 103,417 | |||
Net business unit revenues | 299,233 | 5,183 | 304,416 | |||
Service | 5,183 | (5,183) | - | |||
Total net revenues | $ | 304,416 | $ | - | $ | 304,416 |
Change | ||||||
FY 2023 | Previous | Allocation of | New | |||
Revenues by Business Unit | Reporting | Service Revenue | Reporting | |||
Plasma | $ | 496,923 | $ | 2,993 | $ | 499,916 |
Apheresis | 200,546 | 7,072 | 207,618 | |||
Whole Blood | 79,416 | - | 79,416 | |||
Blood Center | 279,962 | 7,072 | 287,034 | |||
Interventional Technologies(1) | 126,717 | - | 126,717 | |||
Blood Management Technologies(2) | 245,014 | 9,979 | 254,993 | |||
Hospital | 371,731 | 9,979 | 381,710 | |||
Net business unit revenues | 1,148,616 | 20,044 | 1,168,660 | |||
Service | 20,044 | (20,044) | - | |||
Total net revenues | $ | 1,168,660 | $ | - | $ | 1,168,660 |
- Interventional Technologies includes Vascular Closure and Sensor Guided Technologies product lines within the Hospital business unit.
- Blood Management Technologies includes Hemostasis Management, Cell Salvage and Transfusion Management product lines within the Hospital business unit.
Revenue Growth by Business Unit under the Revised Revenue Reporting Structure
In thousands
Reported | Currency | Acquisition | Organic | |||||
Revenues by Business Unit | Q1 FY24 | Q1 FY23 | Growth | Impact | Impact | Growth | ||
Plasma | $ | 139,621 | $ | 103,131 | 35.4% | (0.1)% | 0.0% | 35.5% |
Apheresis | 49,166 | 47,803 | 2.9% | (3.9)% | 0.0% | 6.8% | ||
Whole Blood | 20,040 | 19,595 | 2.3% | (1.6)% | 0.0% | 3.9% | ||
Blood Center | 69,206 | 67,398 | 2.7% | (3.3)% | 0.0% | 6.0% | ||
Interventional Technologies(1) | 37,620 | 29,568 | 27.2% | 0.0% | 0.0% | 27.2% | ||
Blood Management Technologies(2) | 64,885 | 61,361 | 5.7% | (1.8)% | 0.0% | 7.5% | ||
Hospital | 102,505 | 90,929 | 12.7% | (1.3)% | 0.0% | 14.0% | ||
Total net revenues | $ | 311,332 | $ | 261,458 | 19.1% | (1.4)% | 0.0% | 20.5% |
Reported | Currency | Acquisition | Organic | |||||
Revenues by Business Unit | Q2 FY24 | Q2 FY23 | Growth | Impact | Impact | Growth | ||
Plasma | $ | 142,794 | $ | 128,688 | 11.0% | 0.3% | 0.0% | 10.7% |
Apheresis | 54,973 | 55,659 | (1.2)% | (3.0)% | 0.0% | 1.8% | ||
Whole Blood | 14,683 | 19,893 | (26.2)% | (0.7)% | 0.0% | (25.5)% | ||
Blood Center | 69,656 | 75,552 | (7.8)% | (2.4)% | 0.0% | (5.4)% | ||
Interventional Technologies(1) | 38,541 | 29,575 | 30.3% | (0.2)% | 0.0% | 30.5% | ||
Blood Management Technologies(2) | 67,192 | 63,670 | 5.5% | (0.5)% | 0.0% | 6.0% | ||
Hospital | 105,733 | 93,245 | 13.4% | (0.4)% | 0.0% | 13.8% | ||
Total net revenues | $ | 318,183 | $ | 297,485 | 7.0% | (0.6)% | 0.0% | 7.6% |
Reported | Currency | Acquisition | Organic | |||||
Revenues by Business Unit | Q3 FY24 | Q3 FY23 | Growth | Impact | Impact(3) | Growth | ||
Plasma | $ | 147,641 | $ | 136,164 | 8.4% | 0.2% | 0.0% | 8.2% |
Apheresis | 52,565 | 54,053 | (2.8)% | (1.9)% | 0.0% | (0.9)% | ||
Whole Blood | 19,814 | 20,964 | (5.5)% | 0.1% | 0.0% | (5.6)% | ||
Blood Center | 72,379 | 75,017 | (3.5)% | (1.3)% | 0.0% | (2.2)% | ||
Interventional Technologies(1) | 43,007 | 32,154 | 33.8% | (0.2)% | 6.1% | 27.9% | ||
Blood Management Technologies(2) | 73,223 | 61,966 | 18.2% | 0.4% | 0.0% | 17.8% | ||
Hospital | 116,230 | 94,120 | 23.5% | 0.2% | 2.1% | 21.2% | ||
Total net revenues | $ | 336,250 | $ | 305,301 | 10.1% | (0.2)% | 0.6% | 9.7% |
Reported | Currency | Acquisition | Organic | |||||
Revenues by Business Unit | Q4 FY24 | Q4 FY23 | Growth | Impact | Impact(3) | Growth | ||
Plasma | $ | 139,479 | $ | 131,933 | 5.7% | 0.0% | 0.0% | 5.7% |
Apheresis | 54,470 | 50,102 | 8.7% | (3.5)% | 0.0% | 12.2% | ||
Whole Blood | 17,520 | 18,964 | (7.6)% | (0.3)% | 0.0% | (7.3)% | ||
Blood Center | 71,990 | 69,066 | 4.2% | (2.6)% | 0.0% | 6.8% | ||
Interventional Technologies(1) | 55,116 | 35,420 | 55.6% | (0.3)% | 27.8% | 28.1% | ||
Blood Management Technologies(2) | 76,705 | 67,997 | 12.8% | (0.3)% | 0.0% | 13.1% | ||
Hospital | 131,821 | 103,417 | 27.5% | (0.3)% | 9.5% | 18.3% | ||
Total net revenues | $ | 343,290 | $ | 304,416 | 12.8% | (0.7)% | 3.3% | 10.2% |
Reported | Currency | Acquisition | Organic | |||||
Revenues by Business Unit | FY 2024 | FY 2023 | Growth | Impact | Impact(3) | Growth | ||
Plasma | $ | 569,535 | $ | 499,916 | 13.9% | 0.1% | 0.0% | 13.8% |
Apheresis | 211,173 | 207,618 | 1.7% | (3.0)% | 0.0% | 4.7% | ||
Whole Blood | 72,058 | 79,416 | (9.3)% | (0.6)% | 0.0% | (8.7)% | ||
Blood Center | 283,231 | 287,034 | (1.3)% | (2.3)% | 0.0% | 1.0% | ||
Interventional Technologies(1) | 174,285 | 126,717 | 37.5% | (0.2)% | 9.3% | 28.4% | ||
Blood Management Technologies(2) | 282,004 | 254,993 | 10.6% | (0.6)% | 0.0% | 11.2% | ||
Hospital | 456,289 | 381,710 | 19.5% | (0.5)% | 3.1% | 16.9% | ||
Total net revenues | $ | 1,309,055 | $ | 1,168,660 | 12.0% | (0.7)% | 1.0% | 11.7% |
- Interventional Technologies includes Vascular Closure and Sensor Guided Technologies product lines within the Hospital business unit.
- Blood Management Technologies includes Hemostasis Management, Cell Salvage and Transfusion Management product lines within the Hospital business unit.
- Reflects the impact in Hospital of the Sensor Guided Technologies product line acquired as part of the OpSens Inc. transaction in December 2023.
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Haemonetics Corporation published this content on 09 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 May 2024 10:06:42 UTC.