Haemonetics Reports Third Quarter and Year-to-Date Fiscal 2026 Results;

Raises Total Company Fiscal 2026 Guidance

Boston, MA, February 5, 2026 - Haemonetics Corporation (NYSE: HAE) reported financial results for its third quarter and year-to-date of fiscal 2026, which ended December 27, 2025:

3rd Quarter 2026

Year-to-Date 2026

n

Revenue, decrease

$339 million, (3)%

$988 million, (4)%

n

Organic(1) revenue increase

1.2%

-%

n

Organic ex-CSL(2) revenue increase

7.5%

9.8%

n

Earnings per diluted share

$0.95

$2.46

n

Adjusted earnings per diluted share

$1.31

$3.67

n

Cash flow from operating activities

$94 million

$222 million

n

Free cash flow

$74 million

$165 million

__________

(1) Excludes the impacts of currency fluctuation, the divestiture of the Whole Blood product line as of its completion in January 2025 and the exit of certain liquid solution products.

(2) In addition to the adjustments for organic revenue, further excludes the impact of fiscal 2025 disposable sales to CSL Plasma under its transitional U.S. supply agreement with the Company.

Chris Simon, Haemonetics' CEO, stated: "Third quarter revenue growth, margin expansion, and cash flow reflect the underlying strength of our core businesses. Blood Management Technologies and Plasma continue to drive our strong performance while we take targeted actions to reestablish momentum in Interventional Technologies and prepare for a US launch of PerQseal Elite. We are well positioned to finish the fiscal year strong and deliver our long-term growth and value creation objectives throughout our business."

GAAP RESULTS

Third quarter fiscal 2026 revenue was $339.0 million, down 2.7% compared with the third quarter of fiscal 2025. Business unit revenue and growth rates compared with the prior year period were as follows:

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($ millions)			3rd Quarter 2026 Reported
Plasma			$138.9						3.5%
Blood Center			$56.6						(19.6)%
Hospital			$143.5						(0.3)%
Total net revenue			$339.0						(2.7)%

Gross margin was 59.7% in the third quarter of fiscal 2026 compared with 55.5% in the third quarter of fiscal 2025. The primary drivers of the increase in the gross margin percentage were the continued transformation of the product portfolio to higher margin offerings, benefits from product innovation, decreased restructuring costs related to portfolio rationalization initiatives, and decreased amortization of fair value inventory step-up. Operating expenses were $135.0 million, up $0.5 million, or 0.4%, compared with the third quarter of fiscal 2025. The increase in operating expenses was driven by higher performance-based compensation. The Company had operating income of $67.4 million and a 19.9% operating margin in the third quarter of fiscal 2026, compared with operating income of $59.0 million and a 16.9% operating margin in the third quarter of fiscal 2025. The effective income tax rate was 25.4% in the third quarter of fiscal 2026, compared with 24.9% in the third quarter of fiscal 2025. Third quarter fiscal 2026 net income and earnings per diluted share were $44.7 million and $0.95, respectively, compared with $37.5 million and $0.74, respectively, in the third quarter of fiscal 2025.

ADJUSTED RESULTS

Third quarter organic revenue declined 1.2% and organic ex-CSL revenue growth was 7.5% compared with the same period of fiscal 2025. Year-over-year organic and organic ex-CSL revenue growth rates by business unit were as follows:

			3rd Quarter 2026
			Organic						Organic ex-CSL
Plasma			2.8%						20.2%
Blood Center			2.8%						2.8%
Hospital			(0.9)%						(0.9)%
Total net revenue			1.2%						7.5%

Third quarter fiscal 2026 adjusted gross margin was 60.2%, up 250 basis points compared with the prior year period. The primary drivers of the increase in the adjusted gross margin percentage included the continued transformation of the product portfolio to higher margin offerings and benefits from product innovation.

Adjusted operating expenses were $114.8 million, up $3.3 million, or 3.0%, compared with the third quarter of fiscal 2025. The increase in adjusted operating expenses was driven by higher performance-based compensation. Adjusted operating income for the third quarter of fiscal 2026 was $89.2 million, down $0.3 million, or 0.3%, compared with the third quarter of fiscal 2025. Adjusted operating margin was 26.3%, up 60 basis points when compared with the same period of fiscal 2025. The adjusted income tax rate for the third quarter of fiscal 2026 was 24.9%, down 10 basis points when compared with 25.0% in the third quarter of fiscal 2025.

Third quarter fiscal 2026 adjusted net income was $61.4 million, up $1.1 million, or 1.9%, and adjusted earnings per diluted share was $1.31, up 10.1%, each when compared with the same period of fiscal 2025.

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BALANCE SHEET AND CASH FLOW

Cash on hand as of December 27, 2025 was $363.4 million, an increase of $56.6 million since the end of fiscal 2025, primarily driven by cash flow provided from operating activities, partially offset by cash outflows for share repurchases and strategic investments.

Third quarter fiscal 2026 cash flow from operating activities was $93.6 million, up $49.8 million, or 113.8%, and free cash flow was $74.2 million, up $44.6 million, or 150.9%, each when compared with the same period of fiscal 2025. The primary driver of increased operating cash flow as compared to the same period of fiscal 2025 was favorable working capital adjustments driven by lower inventory purchasing. Free cash flow was also impacted by higher non-cash transfers from inventory, partially offset by lower capital expenditures.

FISCAL 2026 GUIDANCE

The Company updated its previous fiscal 2026 GAAP revenue and organic revenue growth guidance as follows:

			Current Guidance
			Plasma			Blood Center			Hospital			Total Company
Reported			(2 - 4%)			(16 - 18%)			~4%			(1 - 3%)
Currency impact			-			~1%			-			~1%
Acquisitions & Divestitures(1)			-			(19%)			-			(4%)
Organic			(2 - 4%)			1 - 3%			~4%			0 - 2%
CSL 2025 US disposables revenue(2)			21%			-			-			8%
Organic, ex-CSL			17 - 19%			1 - 3%			~4%			8 - 10%
			Previous Guidance
			Plasma			Blood Center			Hospital			Total Company
Reported			(4 - 7%)			(17 - 19%)			4 - 7%			(1 - 4%)
Currency impact			-			~1%			-			1%
Acquisitions & Divestitures(1)			-			(19%)			-			(4%)
Organic			(4 - 7%)			(1) - 1%			4 - 7%			(1) - 2%
CSL 2025 US disposables revenue(2)			21%			-			-			8%
Organic, ex-CSL			14 - 17%			(1) - 1%			4 - 7%			7 - 10%

__________

(1) Reflects adjustment in Blood Center to exclude the impact of the Company's divestiture of its Whole Blood product line in January 2025 and exit of certain liquid solution products.

(2) Reflects adjustment to exclude the impact of fiscal 2025 disposable sales to CSL Plasma under its transitional U.S. supply agreement with the Company.

3

Additionally, the Company updated its adjusted operating margin guidance and raised adjusted earnings per diluted share guidance and free cash flow guidance as follows:

			Previous Guidance			Current Guidance
Adjusted operating margin			26 - 27%			26 - 27%
Adjusted earnings per diluted share			$4.80 - $5.00			$4.90 - $5.00
Free cash flow			$170M - $210M			$200M - $220M
Free cash flow to adjusted net income			>70%			>80%

WEBCAST CONFERENCE CALL AND RESULTS ANALYSIS

The Company will host a conference call with investors and analysts to discuss third quarter fiscal 2026 results on Thursday, February 5, 2026 at 8:00 a.m. ET. The call can be accessed via teleconference at https://register-conf.media-server.com/register/BIc1b5072b40a440d2abf26c02854d78e8. Once registration is completed, participants will receive a dial-in number along with a personalized PIN to access the call. While not required, it is recommended that participants join 10 minutes prior to the event start.

Alternatively, a live webcast of the call can be accessed on Haemonetics' investor relations website at the following direct link: https://edge.media-server.com/mmc/p/uz42wd2z.

The Company has also provided a supplemental earnings presentation for its third quarter of fiscal 2026, which is available on its website and can be found at the following direct link: https://haemonetics.gcs-web.com/static-files/54f39941-e22b-48e1-957d-fa61630cd8ca.

ABOUT HAEMONETICS

Haemonetics is a global medical technology company dedicated to improving the quality, effectiveness and efficiency of health care. Our innovative solutions addressing critical medical needs include a suite of hospital technologies designed to advance standards of care and help enhance outcomes for patients; end-to-end plasma collection technologies to optimize operations for plasma centers; and products to enable blood centers to collect in-demand blood components. To learn more about Haemonetics, visit www.haemonetics.com.