QIAGEN N.V. (NYSE: QGEN) tops Q2 EPS outlook and reaffirms 2026 targets
Rhea-AI Filing Summary
QIAGEN N.V. reported Q2 2026 net sales of $535 million, unchanged year-on-year on a reported and constant exchange rate (CER) basis, but ahead of its outlook for an about 2% CER decline. Growth pillars delivered about 5% CER sales growth, led by Sample technologies, QIAcuity and QIAGEN Digital Insights, while lower U.S. immigration testing weighed on QuantiFERON and QIAstat-Dx faced tough respiratory testing comparisons.
Profitability remained high. GAAP operating income increased to $132 million and net income to $103 million, with diluted EPS of $0.50 versus $0.44 a year earlier. Adjusted operating income was $157 million, for a 29.4% margin, and adjusted diluted EPS was $0.62, above the at-least $0.60 CER outlook.
Cash generation stayed solid. Net cash from operating activities was $301 million in the first half of 2026, matching H1 2025, and free cash flow was $212 million. Cash, cash equivalents and short-term investments totaled $0.8 billion at June 30, 2026, down from $1.1 billion at year-end 2025 after a $500 million synthetic share repurchase and a roughly $72 million dividend, which was increased 40% per share. The leverage ratio rose to 1.1x net debt to adjusted EBITDA.
Guidance and strategy were reaffirmed. The company maintained its 2026 outlook for net sales growth of about 1–2% CER and adjusted diluted EPS of at least $2.43 CER, and guided Q3 2026 net sales up about 1–2% CER with adjusted diluted EPS of at least $0.62 CER, supported by ongoing product launches and AI-enabled initiatives.
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Key Figures
Net sales Q2 2026: $535 million
Adjusted diluted EPS Q2 2026: $0.62
Adjusted operating income margin Q2 2026: 29.4%
+5 more
8 metrics
Net sales Q2 2026
$535 million
Unchanged year-on-year on a reported and CER basis
Adjusted diluted EPS Q2 2026
$0.62
Above outlook for at least $0.60 CER and up from $0.60 in Q2 2025
Adjusted operating income margin Q2 2026
29.4%
Adjusted operating income of $157 million on $535 million net sales
Net cash from operating activities H1 2026
$301 million
Matched net cash provided by operating activities in H1 2025
Free cash flow H1 2026
$212 million
Calculated as operating cash flow less $89.8 million in capital expenditures
Cash and short-term investments
$0.8 billion
Cash, cash equivalents and short-term investments as of June 30, 2026
Leverage ratio
1.1x
Net debt to adjusted EBITDA at end of Q2 2026, up from 0.7x at end of 2025
Dividend increase 2026
40%
Dividend per share raised 40% versus 2025; about $72 million paid in July 2026
Key Terms
constant exchange rates (CER), adjusted diluted EPS, free cash flow, synthetic share repurchase, +1 more
5 terms
constant exchange rates (CER) financial
"Net sales of $535 million unchanged compared with Q2 2025 on a reported basis and at constant exchange rates (CER)"
A way of reporting financial results that removes the effect of currency swings by redoing past figures using the same exchange rates as the current period. For investors, it shows the company’s underlying performance — like comparing the sizes of apples using the same ruler — so growth or decline reflects real business activity rather than changes in foreign-currency values.
adjusted diluted EPS financial
"Adjusted diluted EPS of $0.62 on a reported and CER basis, above the outlook"
Adjusted diluted EPS is a company’s profit per share after adding back or removing one-time items (like restructuring costs or gains) and dividing by the number of shares including potential shares from options and convertible securities. Investors use it as a cleaner view of ongoing earnings—like looking at a car’s regular fuel efficiency rather than a trip boosted by downhill coasting—to judge underlying performance and compare companies without temporary distortions.
free cash flow financial
"We calculate free cash flow as net cash from operating activities less purchases of property, plant and equipment"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
leverage ratio financial
"The leverage ratio (net debt to adjusted EBITDA) increased to 1.1x at the end of Q2 2026"
Leverage ratio measures how much a company relies on borrowed money compared with its own funds or assets, typically expressed as debt relative to equity or total assets. Like a homeowner with a mortgage, higher leverage can amplify returns when business is strong but also raises the chance of big losses or default if revenue falls, so investors use it to judge financial risk and resilience.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did QIAGEN (QGEN) perform on net sales in Q2 2026?
QIAGEN delivered Q2 2026 net sales of $535 million, unchanged versus Q2 2025 on a reported and CER basis, but better than guidance that had anticipated an approximately 2% CER decline in quarterly revenue.
What is QIAGEN (QGEN) guiding for full-year 2026 sales and EPS?
QIAGEN reaffirms 2026 guidance for net sales growth of about 1–2% CER and adjusted diluted EPS of at least $2.43 CER. Management also expects stronger sales growth in the second half, supported by new product launches and portfolio optimization.
How did QIAGEN (QGEN) cash flow and free cash flow trend in H1 2026?
In H1 2026, QIAGEN generated net cash from operating activities of $301 million, matching H1 2025. Free cash flow was $212 million, slightly below $217 million a year earlier, reflecting higher capital expenditures and investments, including in Parse Biosciences.
What is QIAGEN (QGEN) liquidity and leverage position as of June 30, 2026?
As of June 30, 2026, QIAGEN held $0.8 billion in cash, cash equivalents and short-term investments. The leverage ratio, measured as net debt to adjusted EBITDA, was 1.1x, up from 0.7x at the end of 2025, partly due to a $500 million synthetic share repurchase.
How did key QIAGEN (QGEN) product groups perform in Q2 2026?
In Q2 2026, Sample technologies sales rose 9% CER to $182 million. Diagnostic solutions declined 2% CER to $204 million, with QuantiFERON up 1% CER to $131 million and QIAstat-Dx down 7% CER to $32 million, reflecting softer respiratory testing demand.
What outlook did QIAGEN (QGEN) provide for Q3 2026?
For Q3 2026, QIAGEN expects net sales to rise about 1–2% CER from $533 million in Q3 2025 and adjusted diluted EPS of at least $0.62 CER, compared with $0.61 in the prior-year quarter, assuming currency is neutral for EPS.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________
FORM 6-K
__________________________________
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the quarterly period ended June 30, 2026
Commission File Number 001-38332
__________________________________
QIAGEN N.V.
(Translation of registrant’s name into English)
__________________________________
Hulsterweg 82
5912 PL Venlo
The Netherlands
(Address of principal executive office)
__________________________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ý Form 40-F o
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Table of Contents
QIAGEN N.V.
Form 6-K
TABLE OF CONTENTS
| Item | Page | ||||
| Other Information | 3 | ||||
| Signatures | 4 | ||||
| Exhibit Index | 5 | ||||
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Table of Contents
OTHER INFORMATION
On August 5, 2026, QIAGEN N.V. (NYSE: QGEN; Frankfurt, Prime Standard: QIA) issued a press release announcing its unaudited financial results for the second quarter ended June 30, 2026. The press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.
QIAGEN has regularly reported adjusted results, which are considered non-GAAP financial measures, to give additional insight into our financial performance as a supplement to understand, manage, and evaluate our business results and make operating decisions. We also use the adjusted results when comparing to our historical operating results, which have consistently been presented on an adjusted basis.
Adjusted results should be considered in addition to the reported results prepared in accordance with U.S. generally accepted accounting principles, but should not be considered as a substitute. Reconciliations of reported results to adjusted results are included in the tables accompanying the press release. We believe certain items should be excluded from adjusted results when they are outside of our ongoing core operations, vary significantly from period to period, or affect the comparability of results with the Company’s competitors and our own prior periods.
The non-GAAP financial measures used in this press release are non-GAAP gross profit, operating income, pre-tax income, net income, tax rate and diluted earnings per share. These adjusted results exclude costs related to business integration, acquisition and restructuring related items, long-lived asset impairments, amortization of acquired intangible assets, non-cash interest expense charges as well as other special income and expense items. Management views these costs as not indicative of the profitability or cash flows of our ongoing or future operations and therefore considers the adjusted results as a supplement, and to be viewed in conjunction with, the reported GAAP results.
We use a measure of free cash flow to estimate the cash flow remaining after purchases of property, plant and equipment as required to maintain or expand our business. This measure provides us with supplemental information to assess our liquidity needs. We calculate free cash flow as net cash from operating activities less purchases of property, plant and equipment.
We also consider results on a constant currency basis. Our functional currency is the U.S. dollar and our subsidiaries’ functional currencies are the local currency of the respective countries in which they are headquartered. A significant portion of our revenues and expenses is denominated in euros and currencies other than the United States dollar. Management believes that analysis of constant currency period-over-period changes is useful because changes in exchange rates can affect the growth rate of net sales and expenses, potentially to a significant degree. Constant currency figures are calculated by translating the local currency actual results in the current period using the average exchange rates from the previous year’s respective period instead of the current period.
We use non-GAAP and constant currency financial measures internally in our planning, forecasting and reporting, as well as to measure and compensate our employees. We do not reconcile forward-looking non-GAAP financial measures to the corresponding GAAP measures due to the high variability and difficulty in making accurate forecasts and projections that are impacted by future decisions and actions. Accordingly, reconciliations of these forward-looking non-GAAP financial measures to the corresponding GAAP measures are not available without unreasonable effort. However, the actual amounts of these excluded items will have a significant impact on QIAGEN’s GAAP results.
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Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| QIAGEN N.V. | ||||||||
| By: | /s/ Roland Sackers | |||||||
| Roland Sackers | ||||||||
| Chief Financial Officer | ||||||||
Date: August 6, 2026
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Table of Contents
EXHIBIT INDEX
Exhibit No. | Exhibit | |||||||
99.1 | Press Release dated August 5, 2026 | |||||||
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Exhibit 99.1
| Media Release |  | |||||||
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) | Q2 | H1 | ||||||||||||||||||||||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||||||||||||||||||||
| Net sales | 535 | 534 | 0 | % | 1,027 | 1,017 | +1 | % | ||||||||||||||||||||||||||||||
| Net sales - CER | 531 | 0 | % | 1,008 | -1 | % | ||||||||||||||||||||||||||||||||
| Operating income | 132 | 122 | +9 | % | 217 | 237 | -9 | % | ||||||||||||||||||||||||||||||
| Net income | 103 | 96 | +7 | % | 171 | 187 | -8 | % | ||||||||||||||||||||||||||||||
| Diluted EPS | $0.50 | $0.44 | +14 | % | $0.82 | $0.85 | -4 | % | ||||||||||||||||||||||||||||||
| Diluted shares (in millions) | 208 | 218 | 209 | 219 | ||||||||||||||||||||||||||||||||||
| Adjusted operating income | 157 | 160 | -2 | % | 292 | 304 | -4 | % | ||||||||||||||||||||||||||||||
| Adjusted net income | 129 | 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 | Q2 | H1 | ||||||||||||||||||||||||||||||||||||||||||||||||
2026 sales | 2025 sales | Change | CER change | 2026 sales | 2025 sales | Change | CER change | |||||||||||||||||||||||||||||||||||||||||||
| Sample technologies | 182 | 166 | +9 | % | +9 | % | 352 | 316 | +11 | % | +9 | % | ||||||||||||||||||||||||||||||||||||||
| Diagnostic solutions | 204 | 206 | -1 | % | -2 | % | 389 | 393 | -1 | % | -3 | % | ||||||||||||||||||||||||||||||||||||||
| Of which QuantiFERON | 131 | 129 | +2 | % | +1 | % | 244 | 245 | 0 | % | -2 | % | ||||||||||||||||||||||||||||||||||||||
| Of which QIAstat-Dx | 32 | 34 | -6 | % | -7 | % | 68 | 68 | -1 | % | -4 | % | ||||||||||||||||||||||||||||||||||||||
| Of which NeuMoDx | — | 3 | -100 | % | -100 | % | — | 9 | -100 | % | -100 | % | ||||||||||||||||||||||||||||||||||||||
| Of which Other | 40 | 40 | +1 | % | 0 | % | 77 | 71 | +8 | % | +7 | % | ||||||||||||||||||||||||||||||||||||||
| PCR/Nucleic acid amplification | 74 | 80 | -7 | % | -8 | % | 143 | 156 | -8 | % | -11 | % | ||||||||||||||||||||||||||||||||||||||
| Genomics/NGS | 61 | 59 | +3 | % | +2 | % | 117 | 112 | +5 | % | +3 | % | ||||||||||||||||||||||||||||||||||||||
| Other | 15 | 22 | -34 | % | -34 | % | 27 | 40 | -32 | % | -33 | % | ||||||||||||||||||||||||||||||||||||||
| Total net sales | 535 | 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 $ millions | Q2 | H1 | ||||||||||||||||||||||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||||||||||||||||||||
| Net cash provided by operating activities | 201 | 161 | +24 | % | 301 | 301 | 0 | % | ||||||||||||||||||||||||||||||
| Purchases of property, plant and equipment | (43) | (40) | +7 | % | (90) | (84) | +7 | % | ||||||||||||||||||||||||||||||
| Free cash flow | 158 | 121 | +30 | % | 212 | 217 | -3 | % | ||||||||||||||||||||||||||||||
| Net cash (used in) provided by investing activities | (70) | (42) | NM | 141 | 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
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 months | Six months | ||||||||||||||||||||||||
| ended June 30, | ended June 30, | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| Net sales | $535,040 | $533,540 | $1,027,360 | $1,016,996 | ||||||||||||||||||||||
| Cost of sales: | ||||||||||||||||||||||||||
| Cost of sales | 181,973 | 185,951 | 351,432 | 347,245 | ||||||||||||||||||||||
| Acquisition-related intangible amortization | 12,681 | 13,303 | 25,939 | 26,784 | ||||||||||||||||||||||
| Total cost of sales | 194,654 | 199,254 | 377,371 | 374,029 | ||||||||||||||||||||||
| Gross profit | 340,386 | 334,286 | 649,989 | 642,967 | ||||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||
| Sales and marketing | 116,675 | 118,097 | 231,281 | 224,431 | ||||||||||||||||||||||
| Research and development | 50,429 | 47,750 | 98,690 | 91,533 | ||||||||||||||||||||||
| General and administrative | 30,093 | 30,648 | 57,875 | 62,256 | ||||||||||||||||||||||
| Acquisition-related intangible amortization | 2,339 | 1,817 | 4,667 | 3,610 | ||||||||||||||||||||||
| Restructuring, acquisition, integration and other, net | 8,449 | 14,072 | 40,650 | 23,888 | ||||||||||||||||||||||
| Total operating expenses | 207,985 | 212,384 | 433,163 | 405,718 | ||||||||||||||||||||||
| Income from operations | 132,401 | 121,902 | 216,826 | 237,249 | ||||||||||||||||||||||
| Other income (expense): | ||||||||||||||||||||||||||
| Interest income | 9,361 | 13,859 | 19,923 | 29,249 | ||||||||||||||||||||||
| Interest expense | (10,022) | (7,605) | (21,073) | (14,899) | ||||||||||||||||||||||
| Other income (expense), net | 365 | (1,335) | 2,258 | (5,229) | ||||||||||||||||||||||
| Total other (expense) income, net | (296) | 4,919 | 1,108 | 9,121 | ||||||||||||||||||||||
| Income before income tax expense | 132,105 | 126,821 | 217,934 | 246,370 | ||||||||||||||||||||||
| Income tax expense | 28,704 | 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 share | 207,828 | 218,183 | 208,953 | 219,186 | ||||||||||||||||||||||
7
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 results | 535.0 | 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 results | 535.0 | 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 results | 1,027.4 | 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 results | 1,027.4 | 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, 2026 | December 31, 2025 | ||||||||||||
| Assets | (unaudited) | |||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | $768,500 | $839,005 | ||||||||||||
| Short-term investments | 25,000 | 259,913 | ||||||||||||
| Accounts receivable, net | 389,850 | 402,608 | ||||||||||||
| Inventories, net | 311,355 | 301,888 | ||||||||||||
| Prepaid expenses and other current assets | 161,922 | 191,659 | ||||||||||||
| Total current assets | 1,656,627 | 1,995,073 | ||||||||||||
| Long-term assets: | ||||||||||||||
| Property, plant and equipment, net | 923,043 | 923,948 | ||||||||||||
| Goodwill | 2,693,398 | 2,700,658 | ||||||||||||
| Intangible assets, net | 352,347 | 386,431 | ||||||||||||
| Other long-term assets | 263,787 | 275,122 | ||||||||||||
| Total long-term assets | 4,232,575 | 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 liabilities | 485,846 | 439,481 | ||||||||||||
| Accounts payable | 79,083 | 72,656 | ||||||||||||
| Total current liabilities | 581,446 | 512,137 | ||||||||||||
| Long-term liabilities: | ||||||||||||||
| Long-term debt, net of current portion | 1,627,105 | 1,654,428 | ||||||||||||
| Other long-term liabilities | 322,911 | 336,513 | ||||||||||||
| Total long-term liabilities | 1,950,016 | 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 capital | 956,239 | 1,436,360 | ||||||||||||
| Retained earnings | 2,814,982 | 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 equity | 3,357,740 | 3,778,154 | ||||||||||||
| Total liabilities and equity | $5,889,202 | $6,281,232 | ||||||||||||
9
QIAGEN N.V.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
| (In thousands) | Six Months Ended June 30, | |||||||||||||
| 2026 | 2025 | |||||||||||||
| 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 amortization | 101,766 | 93,386 | ||||||||||||
| Non-cash impairments | 15,218 | 2,537 | ||||||||||||
| Amortization of debt discount and issuance costs | 1,180 | 1,124 | ||||||||||||
| Share-based compensation expense | 16,618 | 23,096 | ||||||||||||
| Deferred tax (benefit) expense | (3,317) | 3,175 | ||||||||||||
| Loss on marketable securities | — | 968 | ||||||||||||
| Other items, net including fair value changes in derivatives | 1,615 | 8,615 | ||||||||||||
| Change in operating assets, net | (17,550) | (19,934) | ||||||||||||
| Change in operating liabilities, net | 14,345 | 1,200 | ||||||||||||
| Net cash provided by operating activities | 301,319 | 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 investments | 259,294 | 402,057 | ||||||||||||
| Cash paid for acquisitions, net of cash acquired | (1,864) | (66,595) | ||||||||||||
| Cash received (paid) for collateral asset | 1,257 | (36,046) | ||||||||||||
| Purchases of investments | (626) | (1,512) | ||||||||||||
| Net cash provided by investing activities | 141,214 | 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 liability | 1,117 | (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 period | 839,005 | 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.
10