QGEN's Q4 Earnings Meet Estimates, Revenues Up Y/Y, Stock Down

QIAGEN N.V.’s QGEN fourth-quarter 2025 adjusted earnings per share (EPS) were 62 cents, the same at the constant exchange rate (CER). The reported figure increased 1.6% on a year-over-year basis. The metric came almost the same as the Zacks Consensus Estimate.

The adjustment excludes the impact of certain non-recurring items, such as business integration, acquisition and restructuring-related expenses, purchased intangible amortization expenses and non-cash interest expense charges, among others. On a GAAP basis, EPS in the fourth quarter was 49 cents compared with 39 cents in the year-ago period.

For the full year, adjusted earnings were $2.38 per share, up 9.2% from the year-ago period’s level.

QIAGEN’s Revenues

Net sales in the fourth quarter were $540.4 million, up 3.7% year over year (up 1% at CER). The top line beat the Zacks Consensus Estimate by 2.36%.

Total revenues for 2025 were $2.09 billion, up 5.7% from the year-ago period’s level.

Following the announcement on Feb. 4, QGEN’s stock price dipped 0.9%, ending yesterday’s session at $51.23.

QGEN’s Q4 Revenue Breakdown

QIAGEN reports through four product groups — Sample technologies, Diagnostic solutions, PCR / Nucleic acid amplification, Genomics / NGS and Other.

Sample technologies revenues were up 8% on a reported basis (up 5% at CER) to $175 million. Our model projected $157.1 million for this segment.

QIAGEN N.V. Price, Consensus and EPS Surprise

QIAGEN N.V. price-consensus-eps-surprise-chart | QIAGEN N.V. Quote

Diagnostic solutions revenues were up 3% on a reported basis (1% at CER) to $201 million. Our model estimated $203.2 million for this segment. Within this, QuantiFERON revenues were up 5% at CER, while QIAstat-Dx revenues surged 15% at CER. Other sales dropped 1% at CER. 

PCR / Nucleic acid amplification revenues decreased 6% on a reported basis (down 9% at CER) to $78 million. Our model projected $80.9 million for this segment.

Genomics / NGS revenues were $69 million, up 4% year over year on a reported basis and 2% at CER. Our model suggested $66.9 million for this segment.

Other revenues were $18 million, up 20% year over year on a reported basis (up 19% at CER). Our model projected $19.7 million for this segment.

QIAGEN’s Operational Update

In the fourth quarter, the company’s total cost of sales (excluding the amortization of acquisition-related intangibles) rose 14.8%. The adjusted gross profit fell 1.9% year over year to $340.2 million. The adjusted gross margin contracted 359 basis points (bps) to 62.9%.

Sales and marketing expenses increased 6.1% year over year to $120.7 million. R&D expenses of $47.2 million were down 2.8% year over year. G&A expenses rose 18.9% year over year to $33 million.

Adjusted operating income (excluding items like acquisition-related intangible amortization, restructuring, integration and others) fell 11.1% year over year to $139.1 million. The adjusted operating margin contracted 429 bps to 25.7%.

QGEN’s Financial Update

QIAGEN exited the fourth quarter of 2025 with cash, cash equivalents and short-term investments of $1.10 billion compared with $1.15 billion at the end of 2024.

The cumulative net cash provided by operating activities at the end of the fourth quarter of 2025 was $654.3 million compared with $673.6 million in the year-ago period.

QIAGEN Initiates Outlook for 2026, Sets Q1 View

For 2026, net sales are expected to increase about 5% CER, including roughly 9% CER growth from its growth pillars. The Zacks Consensus Estimate for revenues is pegged at $2.21 billion.

The adjusted EPS is expected to be at least $2.50 at CER. The Zacks Consensus Estimate is pegged at $2.62.

For the first quarter, the company estimates that net sales will rise about 1% CER from $483 million in the prior-year period. The Zacks Consensus Estimate currently stands at $513.2 million.

The adjusted EPS is expected to be at least 54 cents at CER compared with 55 cents in the first quarter of 2025. The Zacks Consensus Estimate is pegged at 61 cents.

Our Take on QGEN

QIAGEN ended the fourth quarter of 2025 with in-line earnings, while revenues were a beat. The performance was supported by solid ongoing trends among the growth pillars. Sample Technologies benefited from higher demand for the automated consumables used on the instruments, along with first-time contributions from the Parse acquisitions that were completed in December. QuantiFERON sales were supported by continued conversion from the skin test. Regionally, Belgium, the Netherlands, Spain and the United Kingdom were among the top-performing countries in the quarter.

The contraction of both margins is discouraging. QIAGEN’s 2026 outlook reflects a challenging macroeconomic environment, which is expected to weigh on results at the beginning of the year.

QGEN’s Zacks Rank and Key Picks

QIAGEN currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Intuitive Surgical ISRG, Phibro Animal Health PAHC and Align Technology ALGN.

Intuitive Surgical, currently sporting a Zacks Rank #1 (Strong Buy), reported a fourth-quarter 2025 adjusted EPS of $2.53, which surpassed the Zacks Consensus Estimate by 12.4%. Revenues of $2.87 billion beat the Zacks Consensus Estimate by 4.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

ISRG has an estimated long-term earnings growth rate of 15.7% compared with the industry’s 12.7% growth. The company beat earnings estimates in each of the trailing four quarters, the average surprise being 13.24%.

Phibro Animal Health,carrying a Zacks Rank #2 (Buy) at present, posted a second-quarter fiscal 2026 adjusted EPS of 87 cents, exceeding the Zacks Consensus Estimate by 27.01%. Revenues of $373.9 million topped the Zacks Consensus Estimate by 4.72%.

PAHC has an earnings yield of 6.7% compared with the industry’s 2.5% yield. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 20.15%.

Align Technology,carrying a Zacks Rank #2 at present, posted a fourth-quarter 2025 adjusted EPS of $3.29, exceeding the Zacks Consensus Estimate by 10.1%. Revenues of $1.05 billion topped the Zacks Consensus Estimate by 5.3%.

ALGN has an estimated long-term earnings growth rate of 10.1% compared with the industry’s 9.5% growth. The company’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 6.16%.

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