Exhibit 99.1
Media Release
qiagen_logo.jpg


QIAGEN exceeds Q2 2026 outlook as pillars deliver solid sales growth; reaffirms full-year outlook

•Q2 2026 results:

◦Net sales of $535 million unchanged compared with Q2 2025 on a reported basis and at constant exchange rates (CER), exceeding the outlook for an about 2% CER decline

◦Growth pillars deliver about 5% CER growth, led by Sample technologies, QIAcuity and QDI; QuantiFERON sales rise slightly amid lower U.S. immigration testing demand

◦Adjusted operating income margin of 29.4%, maintaining a high level of profitability
◦Diluted EPS of $0.50; adjusted diluted EPS of $0.62 on a reported and CER basis, above the outlook for at least $0.60 CER

•H1 2026 operating cash of $301 million remains at a strong level compared with H1 2025

•Full-year 2026 outlook reaffirmed for net sales growth of about 1-2% CER and adjusted diluted EPS of at least $2.43 CER

Venlo, the Netherlands, August 5, 2026 - QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced results for Q2 2026, with net sales and adjusted diluted earnings per share exceeding the outlook while maintaining a high level of profitability.

Net sales for Q2 2026 were unchanged at $535 million on a reported basis and at constant exchange rates (CER) compared to Q2 2025, exceeding the outlook for an approximately 2% CER decline. QIAGEN’s growth pillars together delivered 5% CER growth, led by Sample technologies delivering consumables sales growth at a high single-digit CER rate and instruments at a mid-single CER rate. QIAcuity and QIAGEN Digital Insights also delivered solid growth contributions. QuantiFERON sales rose 1% CER, reflecting the significant decline in U.S. immigration testing demand, while QIAstat-Dx sales faced a challenging prior-year comparison for respiratory testing. Adjusted diluted EPS was $0.62 on both a reported and CER basis, above the outlook for at least $0.60 CER.

QIAGEN reaffirmed its full-year 2026 outlook for net sales growth of about 1-2% CER and adjusted diluted EPS of at least $2.43 CER.

“QIAGEN delivered results above our outlook for the second quarter of 2026 while maintaining a high level of profitability in a challenging operating environment,” said Thierry Bernard, Chief Executive Officer of QIAGEN. “We achieved solid growth across key pillars, particularly Sample technologies, QIAcuity and QDI, while navigating continued pressure on instrument spending in the U.S. We are also building momentum behind important new product launches across our portfolio, in particular the rollout of new sample preparation systems and QIAcuity gene expression kits. This progress reinforces our confidence in stronger growth during the second half of 2026 and our focus on delivering solid profitable growth."
“Our adjusted operating income margin remained strong and improved from Q1 2026 while supporting targeted investments following the Parse acquisition and absorbing adverse currency headwinds,” said Roland Sackers, Chief Financial Officer of QIAGEN. “We increased the 2026 dividend by 40% compared with 2025 and continue to evaluate way to deploy capital to the highest-return opportunities. This performance reflects our continued focus on managing costs, prioritizing investments and generating an ongoing strong level of cash flow.”


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Key figures
In $ millions
(Except EPS and diluted shares)		Q2H1
20262025Change20262025Change
Net sales535 534 0 %1,027 1,017 +1 %
Net sales - CER531 0 %1,008 -1 %
Operating income132 122 +9 %217 237 -9 %
Net income103 96 +7 %171 187 -8 %
Diluted EPS $0.50 $0.44 +14 %$0.82 $0.85 -4 %
Diluted shares (in millions) 208218209219
Adjusted operating income157 160 -2 %292 304 -4 %
Adjusted net income129 132 -2 %242 253 -4 %
Adjusted diluted EPS$0.62 $0.60 +3 %$1.16 $1.15 +1 %
Adjusted diluted EPS - CER$0.62 +3 %$1.15 0 %

Please refer to the accompanying tables in this release for full income statement information and a reconciliation of reported to adjusted figures. Tables may have rounding differences. Percentage changes are compared to prior-year periods.

•Sales: Net sales were $535 million in Q2 2026, unchanged on a reported basis and at CER compared with Q2 2025. Consumables and related revenues rose at a low single-digit CER rate, while instrument sales declined at a low teens CER rate, reflecting the continued cautious capital spending environment among U.S. Life Sciences customers. QIAGEN’s growth pillars grew approximately 5% CER and continued to shape the portfolio toward higher-growth opportunities. Sales in the rest of the portfolio declined 13% CER, or 7% CER excluding about $10 million of 2025 sales from the discontinuation of NeuMoDx and Dialunox. Q2 2026 marked the final quarter with a year-on-year impact from these discontinuations, which were completed in June 2025.

•Operating income: Operating income was $132 million compared to $122 million in Q2 2025. Adjusted operating income, which excludes various charges and other items in both periods, declined 2% to $157 million. The adjusted operating income margin was 29.4% of sales compared with 29.9% in Q2 2025, as QIAGEN maintained a high level of profitability while making investments in Parse following the December 2025 acquisition and absorbing external headwinds that were partially offset by efficiency gains and cost discipline. The adjusted gross margin was 66.2% compared with 66.7% in Q2 2025 due to changes in product mix. Sales and marketing expenses declined to 21.8% of sales from 22.1% in Q2 2025 driven by efficiency gains and disciplined cost management. R&D expenses were 9.4% of sales compared to 8.9% in Q2 2025 while supporting investments in the growth pillars and the Parse acquisition, while general and administrative expenses were 5.6% and similar to the level of 5.7% in the year-ago period.

•Earnings per share (EPS): Diluted EPS rose to $0.50 from $0.44 in Q2 2025. Adjusted diluted EPS was $0.62, and also $0.62 CER, above the outlook for at least $0.60 CER and compared to $0.60 in Q2 2025. The adjusted tax rate was 18% in Q2 2026, while the diluted share count was 207.8 million, both in line with QIAGEN's assumptions.










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Sales by product groups
In $ millions
Q2H1
2026
sales
2025
sales
Change
CER change
2026
sales
2025
sales
Change
CER change
Sample technologies182 166 +9 %+9 %352 316 +11 %+9 %
Diagnostic solutions204 206 -1 %-2 %389 393 -1 %-3 %
Of which QuantiFERON131 129 +2 %+1 %244 245 0 %-2 %
Of which QIAstat-Dx32 34 -6 %-7 %68 68 -1 %-4 %
Of which NeuMoDx— 3 -100 %-100 %— 9 -100 %-100 %
Of which Other40 40 +1 %0 %77 71 +8 %+7 %
PCR/Nucleic acid amplification74 80 -7 %-8 %143 156 -8 %-11 %
Genomics/NGS61 59 +3 %+2 %117 112 +5 %+3 %
Other15 22 -34 %-34 %27 40 -32 %-33 %
Total net sales535 534 0 %0 %1,027 1,017 +1 %-1 %

Tables may have rounding differences. Percentage changes are to prior-year periods.

•Sample technologies: Sales rose 9% CER in Q2 2026 to $182 million and increased 3% CER excluding contributions from the Parse acquisition completed in December 2025 to enter the single-cell analysis market segment. Consumables sales grew at a high single-digit CER rate, while instrument sales increased at a mid single-digit CER rate. Automated consumables delivered high teens CER growth, more than offsetting a modest decline in manual kits. Parse continued to deliver a strong performance and remains on track to exceed the 2026 sales target of about $40 million. QIAGEN continued to see healthy interest in the new QIAsymphony Connect and QIAsprint Connect systems, while QIAmini remains on track for launch in H2 2026.

•Diagnostic solutions: Sales declined 2% CER in Q2 2026 to $204 million. Consumables sales declined at a low single-digit CER rate, while instrument sales were also lower compared to the year-ago period. QuantiFERON sales rose 1% CER as solid demand across many testing groups more than offset continued weakness in U.S. immigration testing. QIAstat-Dx sales declined 7% CER against a demanding prior-year comparison for respiratory testing and partially offset by strong growth for the Gastrointestinal and Meningitis / Encephalitis panels. Other diagnostic sales included double-digit CER growth in Precision Medicine consumables for companion diagnostics tied to pharmaceutical co-development agreements.

•PCR / Nucleic acid amplification: Sales declined 8% CER in Q2 2026 to $74 million, with lower sales of both consumables and instruments. QIAcuity sales grew at a double-digit CER rate, driven by consumables growth well above that level and supported by ongoing instrument placements. The overall product group decline primarily reflected weaker OEM demand from third-party companies and lower sales of other PCR consumables and instruments.

•Genomics / Next-generation sequencing (NGS): Sales rose 2% CER in Q2 2026 to $61 million compared to Q2 2025. QIAGEN Digital Insights delivered good single-digit CER growth, led by the clinical business, which now represents about half of QDI sales, despite weaker trends in discovery products. Sales of universal NGS panels for use on third-party sequencers rose more than 20% CER, but were partially offset by lower sales of other genomics products.

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Key cash flow data
In $ millionsQ2H1
20262025Change20262025Change
Net cash provided by operating activities201 161 +24 %301 301 0 %
Purchases of property, plant and equipment(43)(40)+7 %(90)(84)+7 %
Free cash flow158 121 +30 %212 217 -3 %
Net cash (used in) provided by investing activities(70)(42)NM141 78 NM
Net cash used in financing activities(8)(28)NM(512)(315)NM

Tables may have rounding differences. Percentage changes are compared to prior-year periods.

•Net cash from operating activities was $301 million in H1 2026 compared with $301 million in the same period of 2025, as results in the 2026 period included about $20 million in cash payments for efficiency and restructuring programs, as well as an increase in inventory levels in response to geopolitical conditions and to support new product launches. Free cash flow was $212 million for H1 2026 and slightly below $217 million in H1 2025, reflecting the higher level of investments in 2026 for strategic IT initiatives and also in Parse following the acquisition.

•As of June 30, 2026, cash, cash equivalents and short-term investments were $0.8 billion compared with $1.1 billion at year-end 2025. Key cash flow items during H1 2026 included the $500 million synthetic share repurchase in January 2026. The dividend payment of about $72 million, a 40% increase per share from 2025, was made in July 2026. The leverage ratio (net debt to adjusted EBITDA) increased to 1.1x at the end of Q2 2026 from 0.7x at the end of 2025.

Portfolio update

QIAGEN is advancing targeted initiatives across its Sample to Insight portfolio to help customers to advance science and improve healthcare.

◦QIA Agent: QIAGEN launched QIA Agent globally in May 2026, introducing an AI-powered laboratory assistant that brings scientific guidance, product selection, technical support and order management into a single conversational interface. QIA Agent helps researchers plan experiments, identify and compare products, access protocols, troubleshoot workflows and track orders. QIA Agent is part of a broader AI portfolio spanning customer-facing products and activities across QIAGEN, designed to enhance customer engagement and improve efficiency.

◦QIAGEN Digital Insights: QDI expanded its AI strategy through a collaboration with NVIDIA launched in May 2026, combining its curated biomedical knowledge bases and bioinformatics expertise with NVIDIA's accelerated computing and BioNeMo platform. The collaboration is developing graph-based AI solutions that enable researchers to query complex biomedical knowledge using natural language, connect AI-generated insights with structured scientific evidence and support multi-step drug-discovery workflows. Pilot programs are being offered to selected pharmaceutical and biotechnology partners, with applications spanning disease-mechanism research, target identification, biomarker discovery and hypothesis generation.

◦QuantiFERON: At the May 2026 Spotlight Session, QIAGEN outlined the next phase of its strategy for the gold standard in latent tuberculosis (TB) detection. Plans include a fully automated workflow combining QuantiFERON with Diasorin’s LIAISON systems and purpose-built automation with new partner Inpeco. Targeted for launch in late 2027, the workflow is designed to improve efficiency and standardization in high-throughput latent TB screening. QIAGEN is also developing an AI-enabled tool to assess the risk of progression to active TB.

◦Sample technologies: QIAGEN continued the rollout of three new sample preparation systems spanning low- to high throughput laboratories. QIAsymphony Connect is generating strong customer interest as the next-generation of the flagship QIAsymphony platform.
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QIAGEN received the first sales orders for QIAsprint Connect in Q2 2026, while QIAmini remains on track for commercialization in the second half of 2026. Parse Biosciences also expanded its single-cell portfolio with the launch of next-generation immune-profiling solutions.

◦QIAcuity: At the June 2026 Deep Dive, QIAGEN highlighted the expanding role of QIAcuity across research, biopharma and clinical applications as customers move from qPCR toward more scalable, automated and standardized digital PCR workflows. New QIAcuity gene expression assays and a high-multiplex kit enabling analysis of up to 12 RNA targets in a single reaction are being launched in 2026. QIAGEN is also expanding applications in cell and gene therapy quality control, supported by new software for automated analysis and reporting and broader workflow automation through a collaboration with Hamilton.

◦QIAstat-Dx: QIAGEN continued to expand the QIAstat-Dx menu across several high-value testing areas. QIAGEN launched the CE-IVDR-certified BCID GPF Plus AMR Panel for bloodstream infections, which detects 20 pathogens and 10 antimicrobial-resistance markers in about one hour. QIAGEN also received Australian regulatory inclusion for the Meningitis/Encephalitis Panel and highlighted the role of the FDA-cleared Gastrointestinal Panel 2 in supporting the response to the recent U.S. Cyclospora outbreak.

Outlook

QIAGEN reaffirms its full-year 2026 outlook for net sales growth of about 1-2% CER and adjusted diluted EPS of at least $2.43 CER. The outlook continues to anticipate stronger sales growth in the second half of 2026 over the year-ago period, supported by new product launches and the absence of prior-year sales from the discontinued NeuMoDx and Dialunox portfolios. QuantiFERON sales are expected to continue progressing toward the 2026 goal of approximately $500 million. QIAGEN also continues to expect modestly improving trends in U.S. Life Sciences funding, and for contributions from the Parse acquisition to track above the 2026 target for about $40 million of sales.

For Q3 2026, net sales are expected to rise approximately 1-2% CER from $533 million in Q3 2025. Adjusted diluted EPS is expected to be at least $0.62 CER compared to $0.61 in Q3 2025.

For FY 2026, as of August 3, 2026, currency movements against the U.S. dollar are expected to have a positive impact on net sales of about one percentage point and a neutral impact on adjusted EPS results. For Q3 2026, currency movements against the U.S. dollar are expected to have a negative impact on net sales of about one percentage point and a neutral impact on adjusted EPS results.

Investor presentation and conference call

A conference call is scheduled for Thursday, August 6, 2026, at 15:30 Frankfurt Time / 14:30 London Time / 9:30 New York Time. A live audio webcast will be available in the Investor Relations section of the QIAGEN website (www.qiagen.com), with a recording accessible after the event. A presentation will be published in advance under "Events and Presentations" in the same section.

Use of adjusted results
QIAGEN reports adjusted results and constant exchange rate (CER) measures, along with other non-GAAP financial metrics, to provide deeper insight into business performance. These include adjusted gross margin and profit, adjusted operating income and expenses, adjusted operating income margin, adjusted net income, adjusted income before taxes, adjusted diluted EPS, adjusted tax rate, net leverage and free cash flow. Free cash flow is calculated as cash flow from operating activities less capital expenditures for property, plant and equipment. Adjusted results are non-GAAP measures that QIAGEN views as complementary to GAAP-reported results. They exclude items considered outside of ongoing core operations, subject to significant period-to-period fluctuation, or that reduce comparability with competitors and historical performance. QIAGEN also uses these non-GAAP and constant currency measures internally for planning, forecasting, reporting and employee
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compensation purposes. These metrics enable consistent comparison of current and past performance, which QIAGEN has historically presented on an adjusted basis.

About QIAGEN

QIAGEN N.V., a Netherlands-based holding company, is a global leader in Sample to Insight solutions that enable customers to extract and analyze molecular information from biological samples containing the building blocks of life. Our Sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies prepare these biomolecules for analysis, while bioinformatics support the interpretation of complex data to deliver actionable insights. Automation solutions integrate these steps into streamlined, cost-effective workflows. QIAGEN serves more than 500,000 customers worldwide in the Life Sciences (academia, pharmaceutical R&D and industrial applications such as forensics) and molecular diagnostics (clinical healthcare). As of June 30, 2026, QIAGEN employed about 5,500 people across more than 35 locations. For more information, visit www.qiagen.com.

Forward-Looking Statement

Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements can be identified by the use of forward-looking terminology such as “believe”, “hope”, “plan”, “intend”, “seek”, “may”, “will”, “could”, “should”, “would”, “expect”, “anticipate”, “estimate”, “continue”, “target” or other similar words. To the extent that any of the statements contained herein relating to QIAGEN’s products, timing for launch and development, marketing and/or regulatory approvals, financial and operational outlook, growth and expansion, acquisitions, collaborations, markets, strategy or operating results, including without limitation its expected net sales, net sales of particular products, net sales in particular geographies, adjusted net sales, expansion of adjusted operating income margin, returns to shareholders, progressive dividend payments, product portfolio management, product launches (including anticipated launches of our sequencing solutions, testing platforms, panels and systems), leveraging AI technology, improvements in operating and financial leverage, currency movements against the U.S. dollar, plans for investment in our portfolio and share repurchase commitments, our expectations relating to our adjusted tax rate, debt maturity and repayment, our ability to grow adjusted earnings per share at a greater rate than sales, our ability to improve operating efficiencies and maintain disciplined capital allocation, are forward-looking, such statements are based on current expectations and assumptions that involve a number of uncertainties and risks. These include, but are not limited to, risks associated with our dependence on the development and success of new products; management of growth and expansion of operations (including the effects of currency fluctuations, tariffs, tax laws, regulatory processes and supply chain dependencies); variability of operating results; integration of acquired businesses; changes in relationships with customers, suppliers and strategic partners; competition; rapid or unexpected changes in technologies; fluctuations in demand for QIAGEN’s products (including fluctuations due to general economic conditions, the level and timing of customers’ funding, budgets and other factors, including delays or limits in the amount of reimbursement approvals or public health funding); our ability to obtain and maintain product regulatory approvals; difficulties in successfully adapting QIAGEN’s products to integrated solutions and producing such products; the ability of QIAGEN to identify and develop new products and to differentiate and protect our products from competitors’ products; market acceptance of new products and the integration of acquired technologies and businesses; actions of governments, global or regional economic developments, including inflation and changing interest rates, weather or transportation delays, natural disasters, cyber security breaches, political or public health crises and the resulting impact on the demand for our products and other aspects of our business, or other force majeure events; litigation risk, including patent litigation and product liability; debt service obligations; volatility in the public trading price of our common shares; as well as the possibility that expected benefits related to recent or pending acquisitions may not materialize as expected; and the other factors discussed under the heading “Risk Factors” in our most recent Annual Report on Form 20-F. For further information, please refer to the QIAGEN's filings with the U.S. Securities and Exchange Commission.

Contacts

Investor Relations
Public Relations
e-mail: ir@QIAGEN.com
e-mail: pr@QIAGEN.com

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QIAGEN N.V.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
(In thousands, except per share data)Three monthsSix months
ended June 30,ended June 30,
2026202520262025
Net sales$535,040 $533,540 $1,027,360 $1,016,996 
Cost of sales:
Cost of sales181,973 185,951 351,432 347,245 
Acquisition-related intangible amortization12,681 13,303 25,939 26,784 
Total cost of sales194,654 199,254 377,371 374,029 
Gross profit340,386 334,286 649,989 642,967 
Operating expenses:
Sales and marketing116,675 118,097 231,281 224,431 
Research and development50,429 47,750 98,690 91,533 
General and administrative30,093 30,648 57,875 62,256 
Acquisition-related intangible amortization2,339 1,817 4,667 3,610 
Restructuring, acquisition, integration and other, net8,449 14,072 40,650 23,888 
Total operating expenses207,985 212,384 433,163 405,718 
Income from operations132,401 121,902 216,826 237,249 
Other income (expense):
Interest income9,361 13,859 19,923 29,249 
Interest expense(10,022)(7,605)(21,073)(14,899)
Other income (expense), net365 (1,335)2,258 (5,229)
Total other (expense) income, net(296)4,919 1,108 9,121 
Income before income tax expense132,105 126,821 217,934 246,370 
Income tax expense28,704 30,571 46,490 59,362 
Net income$103,401 $96,250 $171,444 $187,008 
Diluted earnings per common share
$0.50 $0.44 $0.82 $0.85 
Diluted earnings per common share (adjusted)
$0.62 $0.60 $1.16 $1.15 
Diluted shares used in computing diluted earnings per common share207,828 218,183 208,953 219,186 



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QIAGEN N.V.
RECONCILIATION OF REPORTED TO ADJUSTED RESULTS
(In $ millions, except EPS data)
(unaudited)

Three months ended June 30, 2026
Net
Sales		Gross
Profit		Operating
Income		Pre-tax
Income		Income
Tax		Tax
Rate		Net
Income		Diluted EPS*
Reported results535.0 340.4 132.4 132.1 (28.7)22%103.4 $0.50 
Adjustments:
Business integration, acquisition and restructuring related items (a) — 1.2 9.6 9.6 (2.7)6.9 0.03 
Purchased intangibles amortization (b)— 12.6 15.0 15.0 (3.7)11.3 0.05 
Non-cash other income, net — — — 0.3 (0.1)0.2 0.00 
Certain income tax items (c)— — — — 7.4 7.4 0.04 
Total adjustments— 13.9 24.7 25.0 0.8 25.8 0.12 
Adjusted results535.0 354.3 157.1 157.1 (27.9)18%129.2 $0.62 
*Using 207.8 M diluted shares    

Six months ended June 30, 2026
Net
Sales		Gross
Profit		Operating
Income 		Pre-tax
Income 		Income
Tax		Tax
Rate		Net
Income 		Diluted EPS*
Reported results1,027.4 650.0 216.8 217.9 (46.5)21%171.4 $0.82 
Adjustments:
Business integration, acquisition and restructuring related items (a)— 3.7 44.3 44.3 (12.6)31.7 0.15 
Purchased intangibles amortization (b)— 25.9 30.6 30.6 (7.6)23.0 0.11 
Non-cash other income, net — — — 0.7 (0.2)0.5 0.00 
Certain income tax items (c)— — — — 15.1 15.1 0.07 
Total adjustments— 29.6 75.0 75.7 (5.3)70.4 0.34 
Adjusted results1,027.4 679.6 291.8 293.6 (51.8)18%241.8 $1.16 
*Using 209.0 M diluted shares
(a) Includes costs incurred in connection with streamlining operations and improving overall efficiency as well as costs related to various contemplated and completed acquisition projects including subsequent integration activities at GNX Data Systems, Ltd. (Genoox) and Parse Biosciences (Parse).
(b) Adjustment includes the amortization of Genoox and Parse intangible assets acquired in Q2 2025 and Q4 2025, respectively.
(c) These items represent updates in QIAGEN's assessment of ongoing examinations or other tax items that are not indicative of the Company's normal future income tax expense.

Tables may contain rounding differences.

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QIAGEN N.V.
CONDENSED CONSOLIDATED BALANCE SHEETS


(In thousands, except par value)June 30, 2026December 31, 2025
Assets(unaudited)
Current assets:
Cash and cash equivalents$768,500 $839,005 
Short-term investments25,000 259,913 
Accounts receivable, net389,850 402,608 
Inventories, net311,355 301,888 
Prepaid expenses and other current assets161,922 191,659 
Total current assets1,656,627 1,995,073 
Long-term assets:
Property, plant and equipment, net923,043 923,948 
Goodwill2,693,398 2,700,658 
Intangible assets, net352,347 386,431 
Other long-term assets263,787 275,122 
Total long-term assets4,232,575 4,286,159 
Total assets$5,889,202 $6,281,232 
Liabilities and equity
Current liabilities:
Current portion of long-term debt$16,517 $— 
Accrued and other current liabilities485,846 439,481 
Accounts payable79,083 72,656 
Total current liabilities581,446 512,137 
Long-term liabilities:
Long-term debt, net of current portion1,627,105 1,654,428 
Other long-term liabilities322,911 336,513 
Total long-term liabilities1,950,016 1,990,941 
Equity:
Common shares, 0.01 EUR par value, authorized—410,000 shares, issued—206,801 and 217,685 shares, respectively
2,404 2,529 
Additional paid-in capital956,239 1,436,360 
Retained earnings2,814,982 2,748,390 
Accumulated other comprehensive loss(402,667)(377,309)
Less treasury stock, at cost — 306 and 764 shares, respectively
(13,218)(31,816)
Total equity3,357,740 3,778,154 
Total liabilities and equity$5,889,202 $6,281,232 










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QIAGEN N.V.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)


(In thousands)Six Months Ended June 30,
20262025
Cash flows from operating activities:
Net income$171,444 $187,008 
Adjustments to reconcile net income to net cash provided by operating activities, net of effects of businesses acquired:
Depreciation and amortization101,766 93,386 
Non-cash impairments15,218 2,537 
Amortization of debt discount and issuance costs1,180 1,124 
Share-based compensation expense16,618 23,096 
Deferred tax (benefit) expense(3,317)3,175 
Loss on marketable securities— 968 
Other items, net including fair value changes in derivatives1,615 8,615 
Change in operating assets, net(17,550)(19,934)
Change in operating liabilities, net14,345 1,200 
Net cash provided by operating activities301,319 301,175 
Cash flows from investing activities:
Purchases of property, plant and equipment(89,813)(84,092)
Purchases of intangible assets(2,034)(1,008)
Purchases of short-term investments(25,000)(134,720)
Proceeds from redemptions of short-term investments259,294 402,057 
Cash paid for acquisitions, net of cash acquired(1,864)(66,595)
Cash received (paid) for collateral asset1,257 (36,046)
Purchases of investments(626)(1,512)
Net cash provided by investing activities141,214 78,084 
Cash flows from financing activities:
Capital repayment(496,749)(280,086)
Tax withholding related to vesting of stock awards(13,945)(15,227)
Cash received (paid) for collateral liability1,117 (9,940)
Cash paid for contingent consideration(2,000)(9,219)
Other financing activities(552)(226)
Net cash used in financing activities(512,129)(314,698)
Effect of exchange rate changes on cash and cash equivalents(909)5,699 
Net (decrease) increase in cash and cash equivalents(70,505)70,260 
Cash and cash equivalents, beginning of period839,005 663,555 
Cash and cash equivalents, end of period$768,500 $733,815 
Reconciliation of free cash flow:(1)
Net cash provided by operating activities$301,319 $301,175 
Purchases of property, plant and equipment(89,813)(84,092)
Free cash flow$211,506 $217,083 

(1) Free cash flow is a non-GAAP financial measure and is calculated from net cash provided by operating activities reduced by purchases of property, plant and equipment.
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