Odysseas Manesiotis

Odysseas Manesiotis asked if QIAGEN expects significantly more QIAstat-Dx placements in 2026 than the 600 achieved in 2025, and sought additional color on QuantiFERON's Q1 2026 guidance, including any price component or impact from one-off tenders.

Answer

Thierry Bernard (CEO) stated that while QIAstat-Dx achieved over 600 placements in 2025 and double-digit growth, the focus for 2026 is on executing the $160 million revenue objective and market penetration rather than significantly exceeding placement numbers. For QuantiFERON's Q1 2026 guidance, he clarified that the lower growth expectation is due to strong base effects from significant tenders in Q4 2024 and Q1 2025, which saw 16% growth compared to a normalized 10%. He also confirmed that pricing flexibility for multi-year contracts is part of the strategy to manage increasing competition, but overall pricing for QuantiFERON remained positive in 2025.

Odysseas Manesiotis asked if QIAGEN expects significantly more than 600 QIAstat-Dx placements in 2026, given the complete menu and high-volume platform. He also inquired about the Q1 QuantiFERON guidance, specifically if it includes a price component and how one-off tenders were given despite the kit's low shelf life.

Answer

Thierry Bernard (CEO, QIAGEN) acknowledged the 600+ QIAstat-Dx placements in 2025 as a good performance and preferred to focus on executing the $160 million objective for 2026, which implies double-digit growth, rather than providing a specific placement target. For QuantiFERON, he clarified that the Q1 guidance reflects a base effect from significant tenders in Q4 2024 and Q1 2025, which led to an unusually high 16% growth in Q1 2025 compared to the normalized 10% annual growth. He confirmed that the $600 million 2028 target for QuantiFERON already factors in increased competition and pricing flexibility for multi-year contracts, while overall pricing for QuantiFERON remained positive in 2025.

Odysseas Manesiotis asked for details on QIAstat instrument placements, including competitive wins and the mix of reagent rentals, and questioned the capital deployment strategy regarding M&A versus share buybacks.

Answer

CEO Thierry Bernard reported over 150 QIAstat placements in Q3, driven by a newly competitive menu in the U.S., with a placement-to-capital-sale mix of roughly 50/50. Regarding capital deployment, Bernard stated that QIAGEN is active on both M&A and buybacks, remaining committed to its $1 billion shareholder return plan by 2028 while actively seeking value-accretive acquisitions.