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Haemonetics (HAE) FY2026 results: revenue $1.3 billion, down 2.0% on the year

Haemonetics Corp. (HAE) reported revenue of $1.3 billion for fiscal 2026, the year ended 28 March 2026, down 2.0% on the year before. Net income was $97 million, down 42.0%, and diluted earnings per share $2.05. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2026.

Revenue
$1.3 billion
-2.0% on the year
FY2019FY2026
Operating margin
11.7%
16.3% a year earlier
FY2019FY2026
Net income
$97 million
-42.0% on the year
FY2019FY2026
Diluted EPS
$2.05
-38.1% on the year
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 9 new.

  • Quarterly revenue rose 4.8%: Fourth quarter revenue was $346.4 million, up 4.8%; organic growth was 4.5% and organic ex-CSL growth 8.6%. Fiscal 2026 revenue was $1.334 billion, down 2.0%.
  • Operating loss from impairment charge: The company reported an operating loss of $23.0 million, a (6.6)% margin, against operating income of $71.3 million a year earlier. A $77.2 million intangible impairment related to Attune Medical drove the change.
  • Adjusted EPS rose 4.0%: Adjusted diluted EPS was $1.29 in the quarter, up 4.0%, and $4.96 for fiscal 2026 against $4.57. Adjusted operating margin was 24.4%, down 50 basis points.
  • Gross margin fell on Attune charge: Reported gross margin was 57.2%, against 58.4%. The main driver was an inventory charge on Attune Medical pre-acquisition inventory and purchase commitments, partly offset by lower restructuring costs and step-up amortization.
  • Free cash flow fell 53.1%: Fourth quarter free cash flow was $44.5 million, down 53.1%. Fiscal 2026 free cash flow was $209.9 million. Management cited tax payment timing and cash collection timing in working capital.
Read the Q4 FY2026 earnings call summary

From this 10-K

Haemonetics is a medical technology company that sells plasma collection systems to plasma centers, blood collection products to blood centers, and a set of hospital technologies. It reports three segments: Plasma, Blood Center and Hospital. The company states that it sees Plasma and Hospital as having the greatest growth potential, and that Blood Center operates in more challenging markets.

Haemonetics Corp., the 10-K for 2026

Haemonetics is a medical technology company that sells plasma collection systems to plasma centers, blood collection products to blood centers, and a set of hospital technologies. It reports three segments: Plasma, Blood Center and Hospital. The company states that it sees Plasma and Hospital as having the greatest growth potential, and that Blood Center operates in more challenging markets.

Plasma

Plasma processed into medicines, known as source plasma, is collected mainly by vertically integrated biopharmaceutical companies such as Grifols, Octapharma, Takeda's BioLife Plasma and CSL, at dedicated centers using apheresis machines that collect only plasma and return the other blood components to the donor. The company states that about two-thirds of worldwide source plasma collections take place in the United States. Haemonetics sells the NexSys PCS plasmapheresis system and its disposables, and software including the NexLynk DMS donor management system and Donor360 tools, which automate donor interviews and qualification and manage plasma units through the center. It states that NexSys PCS with its Persona technology, which sets each collection by the donor's body composition, raises plasma volume per donation by 9% to 12% on average. It has agreements with all U.S. customers to adopt NexSys PCS somewhere in their collection networks, and U.S. customers had been converted to its Express Plus and Persona technologies by the end of fiscal 2026. It has provided automated plasma collection platforms for over 30 years.

Blood Center

Blood centers worldwide take over 118 million blood donations a year. Haemonetics sells them MCS brand apheresis equipment, which collects specific components such as platelets, red cells and plasma from a donor, as well as NexSys PCS for plasma and the ACP automated cell processor for frozen blood cells. It competes with Terumo BCT and Fresenius as well as manual whole blood collection, and it has divested its whole blood product line.

Hospital

The Hospital segment has two franchises. Interventional Technologies covers vascular closure, with the VASCADE family of four collagen-based devices for closing access sites after catheter procedures and the PerQseal Elite system for large bore access such as transcatheter aortic valve replacement; sensor-guided technologies, with the OptoWire pressure guidewire and the SavvyWire 3-in-1 guidewire for valve replacement procedures; and esophageal protection, with the ensoETM system, which circulates temperature-controlled water in the esophagus to cool it during radiofrequency cardiac ablation. Blood Management Technologies covers hemostasis management, with the TEG 6s analyzer that assesses a patient's clotting at the point of care and TEG Manager software; cell salvage, with the Cell Saver Elite+ system that recovers a patient's own blood during surgery for reinfusion; and transfusion management, with SafeTrace Tx and BloodTrack software that track blood products from the hospital blood bank to the bedside.

People

At March 28, 2026 it employed the full-time equivalent of 3,009 people, about 78% of them in North America and the rest in 17 other countries.

From Haemonetics' annual report on Form 10-K for the fiscal year ended 28 March 2026. The filing

Written from the 10-K filed 20 May 2026: read the full 10-K.

The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026

Income statement (profit and loss)

$ millionFY2026FY2025FY2024On the yearLast 8 years
Revenue1,3341,3611,309-2.0%
Cost of revenue546612618-10.7%
Gross profit788749692+5.2%
Gross margin59.0%55.0%52.8%
Research and development59.862.754.4-4.7%
Selling, general and administrative442437430+1.3%
Operating income157222165-29.3%
Operating margin11.7%16.3%12.6%
Interest expense19.335.919.5-46.2%
Pre-tax income128212152-39.6%
Income tax30.744.434.3-30.8%
Effective tax rate24.0%20.9%22.6%
Net income97.3168118-42.0%
Net margin7.3%12.3%9.0%
Diluted EPS$2.05$3.31$2.29-38.1%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2026FY2025FY2024On the yearLast 8 years
Operating cash flow293182182+61.4%
Capital expenditure32.839.338.1-16.5%
Free cash flow260142144+82.8%
Free cash flow margin19.5%10.5%11.0%
Cash from investing-180-162-322
Cash from financing-17810938.2
Depreciation and amortisation11211697.2-3.3%
Share-based compensation33.829.628.3+14.1%
Buybacks1752250.0-22.2%
Diluted shares, weighted47m51m51m-6.7%
Shares outstanding at period end45m48m51m-6.1%

Balance sheet

$ millionFY2026FY2025FY2024On the yearLast 8 years
Shareholders' equity796821960-3.0%
Debt1,2401,246808-0.5%
Operating lease liabilities40.950.558.0-18.9%
Other liabilities319334370-4.4%
Total liabilities and equity2,3962,4512,196-2.2%
Fixed assets306284311+7.6%
Goodwill656604565+8.6%
Intangible assets448456406-1.8%
Cash and equivalents245307179-20.0%
Receivables217203207+7.0%
Inventory306365317-16.1%
Other assets217232210-6.4%
Total assets2,3962,4512,196-2.2%

10-K for the year ended 28 March 2026, filed 20 May 2026: the filing.