What changed in this filing

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Item 1. Financial Statements

2026-08-06 compared with 2026-02-05 · 223 added, 460 removed, 605 unchanged (53% of the section changed)

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars and Shares in Thousands, Except Per Share Data)

6 unchanged sentences

Amortization of acquired intangible assets 10,204 11,392

Impairment of intangible assets 716 — 9,300 2,391

Total operating expenses 145,345 138,372

13 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

Net income $ 33,010 $ 34,031

Other comprehensive income (loss):

Other comprehensive (loss) income:

Foreign currency translation adjustment, net of tax ( 4,708 ) 19,307

Unrealized gain on cash flow hedges, net of tax 640 5,573 456 2,257

Unrealized gain (loss) on cash flow hedges, net of tax 798 ( 520 )

Reclassifications into earnings of cash flow hedge (gains) losses, net of tax ( 105 ) 55

Other comprehensive income (loss) 5,921 ( 20,937 ) 20,474 ( 19,869 )

Other comprehensive (loss) income ( 4,015 ) 18,842

Comprehensive income $ 28,995 $ 52,873

2 unchanged sentences

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

December 27, 2025 March 29, 2025

June 27, 2026 March 28, 2026

(Dollars in Thousands, Except Share Data)

1 unchanged sentence

Cash and cash equivalents $ 223,384 $ 245,440

Accounts receivable, less allowance for credit losses of $ 3,880 as of December 27, 2025 and $ 6,300 as of March 29, 2025

Accounts receivable, less allowance for credit losses of $ 3,618 as of June 27, 2026 and $ 3,693 as of March 28, 2026

216,071 216,855

3 unchanged sentences

Property, plant and equipment, net 303,778 305,761

Intangible assets, less accumulated amortization of $ 352,122 as of December 27, 2025 and $ 316,313 as of March 29, 2025

Intangible assets, less accumulated amortization of $ 374,828 as of June 27, 2026 and $ 363,763 as of March 28, 2026

434,512 447,655

16 unchanged sentences

Authorized — 150,000,000 shares;

Issued and outstanding — 46,829,249 shares as of December 27, 2025 and 48,215,899 shares as of March 29, 2025

Issued and outstanding — 45,471,313 shares as of June 27, 2026 and 45,252,667 shares as of March 28, 2026

Additional paid-in capital 566,759 554,137

15 unchanged sentences

Exercise of stock options 7,244 — 426 — — 426

Shares repurchased ( 363,886 ) ( 4 ) 26,051 ( 26,047 ) — —

Issuance of restricted stock, net of cancellations 157,265 1 ( 1 ) — — —

2 unchanged sentences

Net income — — — 33,010 — 33,010

Other comprehensive income — — — — 18,842 18,842

Balance, June 28, 2025 48,158,723 $ 482 $ 562,014 $ 356,046 $ ( 36,242 ) $ 882,300

Employee stock purchase plan — — — — — —

Exercise of stock options 857 — 74 ( 11 ) — 63

Shares repurchased, including excise tax ( 1,430,579 ) ( 14 ) ( 16,759 ) ( 58,387 ) — ( 75,160 )

Issuance of restricted stock, net of cancellations 18,626 ( 1 ) — — — ( 1 )

Tax withholding on employee equity awards ( 246 ) — ( 4 ) ( 9 ) — ( 13 )

Share-based compensation expense — — 7,589 — — 7,589

Net income — — — 38,684 — 38,684

Other comprehensive loss — — — — ( 4,015 ) ( 4,015 )

Balance, September 27, 2025 46,747,381 $ 467 $ 552,914 $ 336,323 $ ( 40,531 ) $ 849,173

Employee stock purchase plan 61,723 — 2,623 — — 2,623

Exercise of stock options 19,577 — 1,156 ( 9 ) — 1,147

Shares repurchased, including excise tax — — 12 43 — 55

Issuance of restricted stock, net of cancellations 713 1 — — — 1

Tax withholding on employee equity awards ( 145 ) — ( 2 ) ( 6 ) — ( 8 )

Share-based compensation expense — — 7,799 — — 7,799

Net income — — — 44,740 — 44,740

Other comprehensive income — — — — 5,921 5,921

Balance, December 27, 2025 46,829,249 $ 468 $ 564,502 $ 381,091 $ ( 34,610 ) $ 911,451

Balance, June 27, 2026 45,471,313 $ 455 $ 566,759 $ 311,516 $ ( 41,629 ) $ 837,101

Common Stock Additional

7 unchanged sentences

Exercise of stock options 9,141 — 698 ( 236 ) — 462

Issuance of restricted stock, net of cancellations 280,290 3 ( 3 ) — — —

Tax withholding on employee equity awards ( 35,393 ) — ( 1,315 ) ( 8,444 ) — ( 9,759 )

Purchase of capped call related to convertible notes — — ( 88,200 ) — — ( 88,200 )

Share-based compensation expense — — 7,628 — — 7,628

Net income — — — 38,373 — 38,373

Other comprehensive loss — — — — ( 7,035 ) ( 7,035 )

Balance, June 29, 2024 51,152,886 $ 512 $ 560,881 $ 386,642 $ ( 42,667 ) $ 905,368

Exercise of stock options 4,533 — 515 ( 264 ) — 251

Shares repurchased, including excise tax ( 799,148 ) ( 8 ) ( 23,839 ) ( 51,394 ) — ( 75,241 )

Shares repurchased ( 363,886 ) ( 4 ) 26,051 ( 26,047 ) — —

Issuance of restricted stock, net of cancellations 250,532 3 ( 3 ) — — —

3 unchanged sentences

Other comprehensive income — — — — 18,842 18,842

Balance, September 28, 2024 50,381,127 $ 504 $ 544,375 $ 368,536 $ ( 34,564 ) $ 878,851

Employee stock purchase plan 49,232 — 3,035 — — 3,035

Exercise of stock options 11,528 — 1,266 ( 761 ) — 505

Shares repurchased, including excise tax ( 209,494 ) ( 2 ) 12,761 ( 12,867 ) — ( 108 )

Issuance of restricted stock, net of cancellations 2,819 — — — — —

Tax withholding on employee equity awards ( 161 ) — ( 22 ) ( 172 ) — ( 194 )

Share-based compensation expense — — 8,214 — — 8,214

Net income — — — 37,494 — 37,494

Other comprehensive loss — — — — ( 20,937 ) ( 20,937 )

Balance, December 28, 2024 50,235,051 $ 502 $ 569,629 $ 392,230 $ ( 55,501 ) $ 906,860

Balance, June 28, 2025 48,158,723 $ 482 $ 562,014 $ 356,046 $ ( 36,242 ) $ 882,300

The accompanying notes are an integral part of these condensed consolidated financial statements.

1 unchanged sentence

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Nine Months Ended

December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

5 unchanged sentences

Share-based compensation expense 9,311 9,312

Impairment of intangible assets 9,300 2,391

Gain on repurchase of convertible senior notes, net — ( 12,600 )

Gains on sales of property, plant and equipment ( 536 ) ( 14,572 )

Deferred income taxes 668 ( 3,231 )

10 unchanged sentences

Non-cash transfers from inventory to property, plant and equipment for Haemonetics equipment ( 5,565 ) ( 11,460 )

Acquisitions — ( 150,906 )

Proceeds from sale of property, plant and equipment 237 297

2 unchanged sentences

Cash Flows from Financing Activities:

Proceeds from issuance of convertible notes — 700,000

Repurchase of convertible senior notes — ( 185,500 )

Purchase of capped call related to convertible notes — ( 88,200 )

Term loan borrowings — 250,000

Term loan redemption — ( 262,500 )

Payments on revolving facility — ( 50,000 )

Payments on revolving credit facility ( 50,000 ) —

Repayment of term loan borrowings ( 1,563 ) ( 1,563 )

Debt issuance costs — ( 23,135 )

Share repurchases ( 75,000 ) ( 75,000 )

Proceeds from employee stock purchase plan 3,123 3,476

2 unchanged sentences

Other financing activities ( 14 ) ( 36 )

Net cash (used in) provided by financing activities ( 76,961 ) 260,268

Net cash used in financing activities ( 51,528 ) ( 2,442 )

Effect of exchange rates on cash and cash equivalents ( 617 ) 4,182

13 unchanged sentences

All intercompany transactions have been eliminated.

Operating results for the nine months ended December 27, 2025 are not necessarily indicative of the results that may be expected for the full fiscal year ending March 28, 2026 or any other interim period.

Operating results for the three months ended June 27, 2026 are not necessarily indicative of the results that may be expected for the full fiscal year ending April 3, 2027 or any other interim period.

These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in the Annual Report on Form 10-K for the fiscal year ended March 28, 2026.

The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evid ence relative to certain estimates or to identify matters that require additional disclosure.

There were no material recognized or unrecognized subsequent events as of or for the nine months ended December 27, 2025, except for those discussed in Note 3, Acquisitions, Divestitures and Strategic Investments and Note 7, Earnings Per Share within these condensed consolidated financial statements.

The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure.

There were no material recognized or unrecognized subsequent events as of or for the three months ended June 27, 2026, except for those discussed in Note 12, Notes Payable and Long-term Debt.

Segment Reorganization

On June 5, 2026, the Company implemented an organizational realignment designed to align its commercial operations into two global reportable segments by combining the previously reported Plasma and Blood Center reportable segments into Apheresis and renaming the Hospital reportable segment to MedSurg.

This organizational structure reflects how the Company is organized to manage operations, allocate resources and evaluate performance.

Accordingly, all prior-period segment information presented has been recast to reflect the current reportable segment structure.

RECENT ACCOUNTING PRONOUNCEMENTS

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) Update No.

2023-09, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures .

ASC Update No.

2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid.

ASC Update No.

2023-09 is effective for the Company’s first fiscal year beginning after December 15, 2024 and early adoption is permitted.

ASC Update No.

2023-09 is applicable to Haemonetics beginning with the fiscal 2026 Annual Report on Form 10-K.

The guidance will be applied on a prospective basis with the option to apply the standard retrospectively.

The Company does not expect the adoption of ASC Update No.

2023-09 to have a material impact on its financial position or results of operations.

In November 2024, the FASB issued ASC Update No.

1 unchanged sentence

ASC Update No.

2024-03 requires detailed cost and expense information disaggregated in the financial statement notes.

2024-03 requires detailed cost and expense information disaggregated in the financial statements notes.

The updated guidance is effective for fiscal years beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted.

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The guidance can be applied on a prospective basis with the option to apply the standard retrospectively.

In September 2025, the FASB issued ASC Update No.

2025-07, Derivatives and Hedging and Revenue from Contracts with Customers .

ASC Update No.

2025-07 reduces cost, complexity and diversity in practice of evaluating whether contracts with features based on the operations or activities of one of the parties to the contract are derivatives.

The updated guidance is effective for fiscal years beginning after December 15, 2026, with early adoption permitted.

ASC Update No.

2025-07 is applicable to Haemonetics beginning with the fiscal 2028 Annual Report on Form 10-K and the Company is currently evaluating the impact to its interim and annual report disclosures.

The guidance will be applied on a prospective basis with the option to apply the standard retrospectively.

In November 2025, the FASB issued ASC Update No.

5 unchanged sentences

2025-09 is applicable to Haemonetics beginning with the fiscal 2030 Annual Report on Form 10-K and the Company is currently evaluating the impact to its interim and annual report disclosures.

The guidance will be applied on a prospective basis with the option to apply the standard retrospectively.

The guidance can be applied on a prospective basis with the option to apply the standard retrospectively.

In December 2025, the FASB issued ASC Update No.

14 unchanged sentences

2025-12 is applicable to Haemonetics beginning with the fiscal 2028 Annual Report on Form 10-K and the Company is currently evaluating the impact to its interim and annual report disclosures.

ACQUISITIONS, DIVESTITURES AND STRATEGIC INVESTMENTS

ACQUISITIONS AND STRATEGIC INVESTMENTS

A cquisitions

Vivasure Medical Limited

On January 9, 2026, subsequent to the end of the third quarter of fiscal 2026, the Company acquired Vivasure Medical Limited (“Vivasure”) for gross upfront consideration of $ 116.4 million, with $ 60.7 million paid in cash at closing after giving effect to the value of certain prior investments and loans made by the Company to Vivasure, as well as other customary closing adjustments.

The definitive agreement between the parties also provides for up to $ 98.9 million of additional contingent consideration based on sales growth over the three years following the completion of the acquisition and the achievement of certain other milestones, also subject to adjustment based on the value of certain prior investments and loans.

On January 9, 2026, the Company acquired all of the outstanding equity interests of Vivasure Medical Limited (“Vivasure”) for a net purchase price of $ 166.1 million.

The net purchase price included $ 60.2 million paid in cash at closing, net of $ 0.4 million cash acquired and after giving effect to the value of certain prior investments and loans made by the Company to Vivasure, as well as other customary closing adjustments, and the fair value of contingent consideration of $ 20.7 million.

The contingent consideration is based on sales growth over the three years following the completion of the acquisition and the achievement of certain other milestones and is also subject to adjustments based on the value of certain prior investments and loans.

The Company financed this transaction through available cash on hand.

During the fourth quarter of fiscal 2026, the Company recorded a gain of $ 4.9 million within interest and other expense, net on the consolidated statements of income as a result of the remeasurement of the Company’s prior equity interest of approximately 30 % in Vivasure, which had a fair value of $ 47.3 million.

Vivasure is a Galway, Ireland-based company pioneering next-generation technology for percutaneous vessel closure.

1 unchanged sentence

In 2025, Vivasure submitted a premarket approval application to the U.S.

FDA for the PerQseal Elite arterial closure system and received CE Mark approval in Europe for both arterial and venous indications.

The addition of Vivasure expands the Hospital business unit portfolio in the interventional cardiology market and will be included in the Hospital reportable segment.

Attune Medical

On March 5, 2024, the Company entered into a definitive agreement to acquire Advanced Cooling Therapy, Inc., d/b/a Attune Medical (“Attune Medical”), the manufacturer of the ensoETM ® proactive esophageal cooling device, pursuant to which, among other things, the Company agreed to acquire all of the issued and outstanding common shares of Attune Medical.

On April 1, 2024, the Company completed its acquisition of Attune Medical for a net purchase price of $ 176.2 million, which included an upfront cash payment of $ 162.0 million, or $ 150.5 million net of $ 11.5 million cash acquired, the fair value of contingent consideration of $ 25.3 million, and $ 0.4 million of working capital adjustments.

The contingent consideration is based on sales growth over the three years following completion of the acquisition, which is uncapped, and the achievement of certain other milestones.

The Company financed the acquisition through a combination of cash on hand and borrowings under its senior unsecured revolving credit facility.

Attune Medical's ensoETM technology is designed for use across a range of medical conditions involving patient cooling or warming, including treatment in electrophysiology, critical care, neurocritical care, trauma, burn surgery, spine surgery, and cancer surgery, among others.

The Company’s addition of the Esophageal Protection product line through its acquisition of Attune Medical expands the Hospital business unit’s presence in electrophysiology and complements its Vascular Closure product line within Interventional Technologies, which is included in the Hospital reportable segment.

Purchase Price Allocation

The Company accounted for the acquisition as a business combination, and in accordance with FASB ASC Topic 805, Business Combinations (“ASC 805”), recorded the assets acquired and liabilities assumed at their fair values as of the acquisition date.

The fair value of assets acquired and liabilities assumed have been recognized based on management’s estimates and assumptions using the information regarding facts and circumstances that existed at the closing date.

The net purchase price of $ 176.2 million consists of the amounts presented below, which represent the final determination of the fair value of the identifiable assets acquired and liabilities assumed:

April 1, 2024

(Dollars in Thousands)

Accounts receivable $ 3,784

Inventories 26,300

Prepaid expenses and other current assets 906

Property, plant and equipment 200

Intangible assets 105,800

Goodwill 70,256

Total assets acquired 207,246

Accounts payable 2,260

Accrued payroll and related costs 2,129

Other liabilities 496

Deferred tax liability 26,155

Total liabilities assumed 31,040

Net assets acquired $ 176,206

The Company determined that the identifiable intangible assets were developed technology, customer contracts and related relationships and trade names.

The fair values of intangible assets were based on valuation techniques with estimates and assumptions developed by the Company.

Developed technology was valued using the excess earnings method.

Customer contracts and related relationships were valued using the distributor method.

The trademark was valued using the relief from royalty method.

The cash flows used in the valuation of the intangible assets were based on estimates used to price the transaction.

In developing the discount rates applied to the cash flow projections, the discount rates were benchmarked with reference to the implied rate of return from the transaction model and the weighted average cost of capital and then adjusted to reflect the relative risk of the asset.

The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill.

As a result of the acquisition of Attune Medical, the Company recognized goodwill of $ 70.3 million based on expected synergies from integration into the Company’s Hospital business.

The goodwill is not deductible for tax purposes and relates entirely to the Hospital reportable segment.

Intangible assets acquired consist of the following:

Amount Weighted-Average Amortization Period Risk-Adjusted Discount

Rates used in Purchase Price Allocation

(Dollars in Thousands)

Developed technology $ 96,100 10 years 22.0 %

Customer contracts and related relationships 7,800 10 years 21.5 %

Trade names 1,900 10 years 21.5 %

Total $ 105,800

The Company recorded a long-term net deferred tax liability of $ 26.2 million primarily related to fair value adjustments recorded associated with definite-lived intangible assets and inventory in which there is no tax basis, partially offset by deferred tax assets primarily related to net operating losses acquired.

Acquisition-Related Costs

The Company incurred $ 9.8 million of acquisition-related costs during the first quarter of fiscal 2025 in connection with the Attune Medical acquisition.

These costs related to legal and other professional fees were recognized in selling, general and administrative (“SG&A”) within the condensed consolidated statements of income.

The Company’s condensed consolidated financial statements include the results of Attune Medical from the date the acquisition was completed.

Pro forma financial information has not been presented as the acquisition has been determined to not be material to the Company’s overall financial results.

On October 10, 2023, the Company entered into an Arrangement Agreement with OpSens Inc.

(“OpSens”), a medical device cardiology-focused company delivering solutions based on its proprietary optical technology, pursuant to which, among other things, the Company agreed to acquire all of the issued and outstanding common shares of OpSens.

On December 12, 2023, the Company completed its acquisition of OpSens for a net purchase price of $ 243.9 million, reflecting total consideration of $ 254.5 million, net of $ 10.6 million of cash acquired.

The Company financed the acquisition through a combination of cash on hand and borrowings under its senior unsecured revolving credit facility.

OpSens offers commercially and clinically validated optical technology for use primarily in interventional cardiology.

OpSens’ core products include the SavvyWire ® , a sensor-guided 3-in-1 guidewire for transcatheter aortic valve replacement procedures, advancing the workflow of the procedure and enabling potentially shorter hospital stays for patients;

and the OptoWire ® , a pressure guidewire that aims to improve clinical outcomes by accurately and consistently measuring fractional flow reserve and diastolic pressure ratio to aid clinicians in the diagnosis and treatment of patients with coronary artery disease.

OpSens also manufactures a range of fiber optic sensor solutions used in medical devices and other critical industrial applications.

The addition of OpSens expands the Hospital business unit portfolio in the interventional cardiology market and is included in the Hospital reportable segment.

FDA for the PerQseal Elite arterial closure system and received CE Mark in Europe for both arterial and venous indications.

The addition of Vivasure expands the MedSurg business unit portfolio in the interventional cardiology market and will be included in the MedSurg reportable segment.

Purchase Price Allocation

The Company accounted for the acquisition as a business combination, and in accordance with ASC 805, recorded the assets acquired and liabilities assumed at their fair values as of the acquisition date.

The Company accounted for the acquisition as a business combination, and in accordance with FASB ASC 805, Business Combinations (Topic 805), recorded the assets acquired and liabilities assumed at their fair values as of the acquisition date.

The net purchase price of $ 243.9 million consists of the amounts presented below, which represent the final determination of the fair value of the identifiable assets acquired and liabilities assumed:

December 12, 2023

The assessment of fair value is preliminary and is based on information that was available at the time the Company’s consolidated financial statements were prepared.

Measurement period adjustments may arise upon the availability of further information regarding events or circumstances that existed at the acquisition date and will be recorded in the period in which they are determined, as if they had been completed at the acquisition date.

During the first quarter of fiscal 2027 the Company recorded measurement period adjustments that were considered not material.

The finalization of the Company’s purchase accounting assessment could result in changes in the valuation of assets acquired and liabilities assumed, which could be material.

The final determination of the fair value of certain assets and liabilities will be completed within the measurement period as required by Topic 805.

The total purchase price of $ 166.1 million consists of the amounts presented below, which represent the initial determination of the fair value of the identifiable assets acquired and liabilities assumed:

January 9, 2026

(Dollars in Thousands)

Cash and cash equivalents $ 449

Accounts receivable 21

8 unchanged sentences

Accrued payroll and related costs 2,889

Other liabilities 9,746

Deferred tax liability 14,805

Other current liabilities 4,741

Other long-term liabilities 199

1 unchanged sentence

Net assets acquired $ 166,087

The Company determined that the identifiable intangible assets were developed technology, customer contracts and related relationships and trade names.

The fair values of intangible assets were based on valuation techniques with estimates and assumptions developed by the Company.

Developed technology and customer contracts and related relationships were valued using the excess earnings method.

Trademarks were valued using the relief from royalty method.

The cash flows used in the valuation of the intangible assets were based on estimates used to price the transaction.

The Company determined that the identifiable intangible asset was primarily developed technology.

The fair value of the intangible asset was based on valuation techniques with estimates and assumptions developed by the Company.

Developed technology was valued using the excess earnings method.

The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill.

As a result of the acquisition of OpSens, the Company recognized goodwill of $ 79.4 million based on expected synergies from integration into the Company’s Hospital business.

The goodwill is not deductible for tax purposes and relates entirely to the Hospital reportable segment.

The excess of the purchase price over the tangible assets, identifiable intangible asset and assumed liabilities was recorded as goodwill.

As a result of the acquisition of Vivasure, the Company recognized goodwill of $ 52.2 million based on expected synergies from integration into the Company’s MedSurg business unit.

The goodwill is not deductible for tax purposes and relates entirely to the MedSurg reportable segment.

Intangible assets acquired consist of the following:

3 unchanged sentences

Developed technology $ 117,100 16 years 16.5 %

Customer contracts and related relationships 52,300 15 years 18.9 %

Trade names 4,800 15 years 20.5 %

Total $ 117,100

The Company recorded a net long-term deferred tax liability of $ 14.8 million, primarily as a result of fair value adjustments recorded associated with definite-lived intangible assets and inventory in which there is no tax basis.

Acquisition-Related Costs

The Company incurred $ 6.6 million of acquisition-related costs for fiscal 2024 in connection with the OpSens acquisition.

These costs related to legal and other professional fees, which were recognized in SG&A on the condensed consolidated statements of income.

The Company’s condensed consolidated financial statements include the results of OpSens from the date the acquisition was completed.

The Company incurred $ 1.1 million of acquisition-related costs during fiscal 2026 in connection with the Vivasure acquisition.

These costs related to legal and other professional fees, which were recognized in selling, general and administrative on the consolidated statements of income.

The Company’s consolidated financial statements include the results of Vivasure from the date the acquisition was completed.

Pro forma financial information has not been presented as the acquisition is not material to the Company’s overall financial results.

Divestiture of the Whole Blood Product Line

On December 3, 2024, the Company announced that it had entered into a definitive agreement to sell its Whole Blood product line and related assets within its Blood Center business unit to GVS, S.p.A (“GVS”), a manufacturer of filter solutions for applications in the healthcare and life sciences sectors.

The divested assets include the Company’s complete portfolio of proprietary whole blood collection, processing and filtration solutions, along with the Company’s manufacturing facility in Covina, California where certain of these products are produced, and related equipment and assets located at the Company’s manufacturing facility in Tijuana, Mexico.

On January 13, 2025, the Company completed the transaction with GVS in exchange for upfront cash consideration of $ 43.3 million, after customary post-closing adjustments, and up to $ 22.5 million in contingent consideration, based on sales growth over the three years following completion of the transaction and the achievement of certain other milestones.

The assets that were derecognized in connection with the sale consisted of $ 26.4 million of inventory, $ 7.8 million of property, plant and equipment and $ 6.4 million of goodwill, which were previously classified as held for sale in Prepaid expenses and other current assets in the consolidated balance sheets in the third quarter of fiscal 2025.

In connection with the sale, the Company recognized a gain from the sale of the business in Interest and other expense, net in the Consolidated Statements of Income for the year ended March 29, 2025.

The gain was not material and included cash receipts of $ 43.3 million less net assets transferred to GVS or otherwise derecognized and net of transaction costs of $ 0.1 million.

As part of the sale, the Company entered into a Transition Services Agreement (“TSA”) with GVS to ensure a smooth transition of business operations.

Under the TSA, the Company will continue to provide certain regulatory, quality, logistical and operational support services to GVS for a maximum period of 36 months following the transaction closing to facilitate GVS's integration of the acquired business.

Under the TSA, the Company is entitled to be reimbursed for the costs incurred plus a mark-up and has recorded other income and expenses, net related to the agreement in SG&A in the condensed consolidated statements of income, which were immaterial for the three and nine months ended December 27, 2025.

In addition to the TSA, Haemonetics and GVS entered into a Contract Manufacturing Agreement (“CMA”), under which Haemonetics will continue to manufacture certain whole blood filtration products for GVS for a maximum term of 18 months.

The CMA allows GVS to gradually transition manufacturing operations while ensuring supply continuity for customers.

Under the CMA, the Company is entitled to be reimbursed for the costs incurred plus a mark-up and has recorded other income and expenses, net related to the agreement in SG&A in the condensed consolidated statements of income, which were immaterial for the three and nine months ended December 27, 2025.

For information regarding the remeasurement of the contingent consideration liability refer to Note 13, Financial Instruments and Fair Value Measurements.

Strategic Investments

As part of the Company’s business development activities, it holds strategic investments in certain entities.

The Company has made total strategic investments and loans totaling $ 97.2 million as of December 27, 2025 and $ 61.6 million as of March 29, 2025, including $ 78.3 million and $ 48.7 million in strategic investments and loans to Vivasure, as of December 27, 2025 and March 29, 2025, respectively.

On January 9, 2026, subsequent to the end of the third quarter of fiscal 2026, the Company completed the acquisition of Vivasure.

The Company’s strategic investments are classified as other long-term assets on the Company’s condensed consolidated balance sheets, and the Company has not recorded any material adjustments to the carrying value of the Company’s strategic investments during the three and nine months ended December 27, 2025 and December 28, 2024.

As of December 27, 2025, the Company had $ 36.6 million of transaction price allocated to remaining performance obligations related to executed contracts with an original duration of one year or more.

As part of its business development strategy, the Company maintains strategic investments in certain entities.

The carrying value of the Company’s strategic investments was $ 24.7 million as of June 27, 2026 and $ 19.2 million as of March 28, 2026.

These investments are included within other long-term assets in the Company’s condensed consolidated balance sheets.

During the three months ended June 27, 2026, the Company recognized a $ 1.0 million loss related to an equity method investment, which reduced the carrying value of the investment accordingly.

Other than this adjustment, the Company did not record any material adjustments to the carrying value of its strategic investments during the three months ended June 27, 2026 or June 28, 2025.

As of June 27, 2026, the Company had $ 31.0 million of transaction price allocated to remaining performance obligations related to executed contracts with an original duration of one year or more.

The Company expects to recognize approximately 70 % of this amount as revenue within the next twelve months and the remaining balance thereafter.

2 unchanged sentences

The difference in timing between billing and revenue recognition primarily occurs in software licensing arrangements, resulting in contract assets and contract liabilities.

As of December 27, 2025 and March 29, 2025, the Company had contract liabilities of $ 44.6 million and $ 43.3 million, respectively.

During the three and nine months ended December 27, 2025, the Company recognized $ 6.0 million and $ 30.9 million of revenue, respectively, that was included in the above March 29, 2025 contract liability balance.

As of June 27, 2026 and March 28, 2026, the Company had contract liabilities of $ 48.6 million and $ 42.3 million, respectively.

During the three months ended June 27, 2026, the Company recognized $ 15.8 million of revenue that was included in the above March 28, 2026 contract liability balance.

Contract liabilities are classified as other current liabilities on the condensed consolidated balance sheets.

As of December 27, 2025 and March 29, 2025, the Company’s contract assets were $ 5.7 million and $ 11.6 million, respectively.

As of June 27, 2026 and March 28, 2026, the Company’s contract assets were $ 6.1 million and $ 5.5 million, respectively.

RESTRUCTURING

On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify opportunities for efficiencies, enhance commercial capabilities, align its resources and offer its customers better solutions.

On an ongoing basis, the Company assesses the global economy, the healthcare industry, and the markets in which it competes to identify opportunities for efficiencies, enhance commercial capabilities, align its resources and offer its customers better solutions.

In order to realize these opportunities, the Company undertakes restructuring-type activities to transform its business.

Operational Excellence Program

In July 2019, the Board of Directors of the Company (the “Board”) approved the Operational Excellence Program (the “2020 Program”) and delegated authority to the Company’s management to determine the details of the initiatives that will comprise the 2020 Program.

During fiscal 2022, the Company revised the 2020 Program to improve product and service quality, reduce cost principally in its manufacturing and supply chain operations and ensure sustainability while helping to offset impacts from a previously announced customer loss, rising inflationary pressures and effects of the COVID-19 pandemic.

The 2020 Program is closed as of March 29, 2025.

Total cumulative charges under the 2020 Progra m are $ 84.8 million through March 29, 2025.

In July 2019, the Board of Directors of the Company approved the Operational Excellence Program (the “2020 Program”) and delegated authority to the Company’s management to determine the detail of the initiatives that will comprise the program.

The 2020 Program closed as of March 29, 2025.

During the three months ended June 28, 2025, the Company recognized reversals of previously incurred costs of $ 0.1 million.

Portfolio Rationalization Initiatives

In November 2023, the Company announced its plans to end of life the ClotPro analyzer system within the Hospital business unit and certain products within the Blood Center business unit, primarily in Whole Blood, including the associated manufacturing operations and closure of certain other facilities.

These portfolio rationalization initiatives are closed as of March 29, 2025.

Under these initiatives, during the three and nine months ended December 27, 2025, the Company recognized reversals of previously incurred costs of de minimis and $ 1.9 million, respectively, as compared with restructuring and restructuring related costs incurred of $ 3.1 million and $ 12.5 million, respectively, during the three and nine months ended December 28, 2024.

Total cumulative charges under the portfolio rationalization initiatives are $ 25.1 million through December 27, 2025.

In November 2023, the C ompany announced its plans to end of life the ClotPro analyzer system within the previously named Hospital business unit and certain products within the previously named Blood Center business unit, primarily in Whole Blood, including the associated manufacturing operations and closure of certain other facilities.

These portfolio rationalization initiatives closed as of March 29, 2025 .

During the three months ended June 28, 2025, the Company recognized reversals of previously incurred costs of $ 1.5 million related to the divestiture of the Whole Blood product line.

Market and Regional Alignment Initiative

In May 2025, the Board approved a new market and regional alignment initiative and delegated authority to the Company’s management to determine the details of the specific actions that will comprise the initiative.

In May 2025, the Board approved a market and regional alignment initiative and delegated authority to the Company’s management to determine the details of the specific actions that will comprise the initiative.

This strategic initiative is designed to improve operational performance and reduce costs by directing the Company’s resources toward the markets and geographies that offer the greatest growth and portfolio advancement opportunities.

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The actual amounts and timing may vary materially based on various factors.

Initial actions related to this initiative were approved by the Board in January 2025, resulting in restructuring related costs during the fourth quarter of fiscal 2025.

Under this initiative, during the three and nine months ended December 27, 2025, the Company incurred restructuring and restructuring related costs of $ 1.5 million and $ 4.9 million, respectively, under this initiative.

Total cumulative charges under the market and regional alignment initiative are $ 5.5 million as of December 27, 2025.

The following table summarizes the activ ity for restructuring reserves related to the 2020 Pr ogram, the portfolio rationalization initiatives and the market and regional alignment initiative for the nine months ended December 27, 2025, substantially all of which relates to employee severance, other employee costs, inventory reserves and lease termination fees:

2020 Program Portfolio Rationalization Market and Regional Alignment Total

(Dollars in Thousands)

Under this initiative the Company incurred restructuring and restructuring related costs of $ 2.3 million and $ 2.8 million during the three months ended June 27, 2026 and June 28, 2025, respectively.

Total cumulative charges under the market and regional alignment initiative are $ 7.9 million as of June 27, 2026.

The following table summarizes the activ ity for restructuring reserves related to the 2020 Pr ogram, the portfolio rationalization initiatives and the market and regional alignment initiative for the three months ended June 27, 2026, substantially all of which relates to employee severance, other employee costs, inventory reserves and lease termination fees:

2020 Program Portfolio Rationalization Initiatives Market and Regional Alignment Total

Balance as of March 28, 2026

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Payments ( 23 ) ( 329 ) ( 2,091 ) ( 2,443 )

Balance as of December 27, 2025

Balance as of June 27, 2026

$ — $ 387 $ 775 $ 1,162

The following presents the net restructuring costs by line item within the Company’s accompanying unaudited condensed consolidated statements of income:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

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Total $ 2,298 $ 1,266

As of December 27, 2025, the Company had a restructuring liability of $ 1.7 million, all of which is payable within the next twelve months.

As of June 27, 2026, the Company had a restructuring liability of $ 1.2 million, all of which is payable within the next twelve months.

In addition to the restructuring expenses included in the table above, the Company also incurred costs that do not constitute restructuring costs under FASB ASC Topic 420, Exit and Disposal Cost Obligations, and which the Company instead refers to as restructuring related costs.

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The tables below present restructuring and restructuring related costs by reportable segment:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

Restructuring costs

Plasma $ ( 43 ) $ 77 $ 448 $ 284

Blood Center 822 685 ( 536 ) 4,241

Hospital 115 774 1,231 1,404

Apheresis $ 13 $ ( 452 )

MedSurg 2,309 576

Corporate ( 24 ) 1,142

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Restructuring related costs

Plasma $ — $ 37 $ 9 $ 263

Blood Center ( 1 ) 31 ( 1 ) 120

Hospital — ( 68 ) — 40

Apheresis $ — $ 9

Corporate ( 40 ) 49

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The Company’s effective tax rate is adversely impacted by non-deductible expenses including executive compensation and is favorably impacted by the jurisdictional mix of earnings and research credits generated.

For the three and nine months ended December 27, 2025, the Company reported income tax expense of $ 15.2 million and $ 39.0 million, respectively, representing effective tax rates of 25.4 % and 24.9 %, respectively.

The effective tax rate for the nine months ended December 27, 2025 includes $ 0.5 million of discrete tax expense, primarily related to stock compensation shortfalls.

For the three and nine months ended December 28, 2024, the Company reported income tax expense of $ 12.4 million and $ 31.6 million, respectively, representing effective tax rates of 24.9 % and 22.4 %, respectively.

The effective tax rate for the three months ended December 28, 2024 includes an immaterial discrete tax benefit.

The effective tax rate for the nine months ended December 28, 2024 includes $ 3.3 million of discrete tax benefit, primarily related to stock compensation windfalls.

The discrete benefit also includes other items such as provision to return differences.

The reported tax rate for the three months ended December 27, 2025, compared to the same period in fiscal 2025, was relatively consistent.

The increase in the reported tax rate for the nine months ended December 27, 2025, compared to the same period in fiscal 2025, relates primarily to the decrease in net stock compensation windfall benefits.

The One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S.

on July 4, 2025.

The OBBBA legislation provides for the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017, revisions to the international tax framework and the reinstatement of favorable tax treatment for certain business provisions.

The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented in future periods.

The Company has accounted for the impact of the OBBBA on the Company’s consolidated financial statements, and has determined that it has no material impact on the reported tax rate in the current year.

For the three months ended June 27, 2026, the Company reported income tax expense of $ 14.6 million representing an effective tax rate of 30.6 %.

The effective tax rate for the three months ended June 27, 2026 includes $ 1.7 million of discrete tax expense, primarily related to stock compensation shortfalls and valuation allowance impacts related to losses in certain recently acquired jurisdictions.

For the three months ended June 28, 2025, the Company reported income tax expense of $ 11.1 million, representing an effective tax rate of 24.7 %.

The effective tax rate for the three months ended June 28, 2025 includes $ 0.1 million of discrete tax expense, primarily related to stock compensation shortfalls.

The increase in the reported tax rate for the three months ended June 27, 2026, compared to the same period in fiscal 2026, relates primarily to the increase in net stock compensation shortfalls and the impact of losses incurred in certain jurisdictions for which no tax benefit was recognized.

EARNINGS PER SHARE

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

(Dollars and Shares in Thousands, Except Per Share Data)

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars and Shares in Thousands, Except Per Share)

Net income $ 33,010 $ 34,031

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In August 2022, the Board approved a three-year share repurchase program authorizing the repurchase of up to $ 300.0 million of Haemonetics common stock, based on market conditions, through August 2025.

Under the share repurchase program, the Company is authorized to repurchase, from time to time, outstanding shares of common stock in accordance with applicable laws on the open market, including under trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and in privately negotiated transactions.

In April 2025, the Company completed a $ 150.0 million repurchase of its common stock pursuant to an accelerated share repurchase agreement (“ASR”) entered into with Goldman Sachs & Co.

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The share repurchase program may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common stock under the program.

In September 2025, the Company completed a $ 75.0 million repurchase of its common stock pursuant to an ASR entered into with Citibank N.A.

(“Citibank”) in August 2025.

The total number of shares repurchased under the ASR was 1,430,579 at an average price per share upon final settlement of $ 52.43 .

As of December 27, 2025, the total remaining authorization for repurchases of the Company's common stock under the 2025 share repurchase program was $ 425.0 million.

During the fourth quarter of fiscal 2026, the Company repurchased 360,457 shares of its common stock for $ 25.0 million under a previously executed Rule 10b5-1 trading plan.

The total remaining authorization for repurchases of the Company’s common stock under the 2025 share repurchase program is $ 400.0 million.

During fiscal 2026, the Company repurchased 3,009,834 shares for $ 175.0 million at an average price per share upon settlement of $ 58.14 .

As of June 27, 2026, the total remaining authorization for repurchases of the Company's common stock under the 2025 share repurchase program was $ 325.0 million.

Inventories are stated at the lower of cost or net realizable value and include the cost of material, labor and manufacturing overhead.

Cost is determined with the first-in, first-out method.

December 27, 2025 March 29, 2025

June 27, 2026 March 28, 2026

(Dollars in Thousands)

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PROPERTY, PLANT AND EQUIPMENT

December 27, 2025 March 29, 2025

June 27, 2026 March 28, 2026

(Dollars in Thousands)

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Property, plant and equipment, net $ 303,778 $ 305,761

During the three and nine months ended December 27, 2025, depreciation expense was $ 14.9 million and $ 45.9 million, respectively.

During the three and nine months ended December 28, 2024, depreciation expense was $ 15.2 million and $ 44.8 million, respectively.

During the three months ended June 27, 2026 and June 28, 2025 depreciation expense was $ 15.4 million.

Lessor Activity

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These devices are leased to customers under contractual arrangements that typically include an operating or sales-type lease as well as the purchase and consumption of a certain level of disposable products.

Sales-type leases are not significant.

Contract terms vary by customer and may include options to terminate the contract or options to extend the contract.

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The allocation of revenue between the lease and non-lease components is based on estimated stand-alone selling prices.

Operating lease revenue represents approximately three percent of the Company’s total net revenues during both the three and nine months ended December 27, 2025.

Operating lease revenue represents approximately two percent of the Company’s total net revenues during the three months ended June 27, 2026.

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by operating segment for fiscal 2026 are as follows:

Plasma Blood Center Hospital Total

This organizational structure reflects how the Company is organized to manage operations, allocate resources and evaluate performance.

The Company has recast goodwill assigned to the Apheresis segment as of the beginning of the year by combining the goodwill from the previous Blood Center and Plasma segments into the new Apheresis segment.

Each of the Company’s reporting units were tested for goodwill impairment prior to and subsequent to the re-alignments and no impairment was identified.

The changes in the carrying amount of goodwill by operating segment for the first quarter of fiscal 2027 are as follows:

Apheresis MedSurg Total

(Dollars in Thousands)

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$ 55,931 $ 600,437 $ 656,368

Purchase accounting adjustments — 1,714 1,714

Currency translation ( 22 ) ( 1,176 ) ( 1,198 )

Carrying amount as of December 27, 2025

Carrying amount as of June 27, 2026

$ 55,909 $ 600,975 $ 656,884

The gross carrying amount of intangible assets and the related accumulated amortization as of December 27, 2025 and March 29, 2025 are as follows:

The gross carrying amount of intangible assets and the related accumulated amortization as of June 27, 2026 and March 28, 2026 are as follows:

Gross Carrying

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Amortization Net Carrying Amount Weighted Average Remaining Life (Years)

December 27, 2025

June 27, 2026

(Dollars in Thousands)

22 unchanged sentences

Total $ 5,903

During fiscal 2026, the Company recorded an intangible asset impairment charge of $ 9.3 million related to the intellectual property associated with the HAS viscoelastic diagnostic devices, related assays and disposables within the Hospital business unit, as acquired from HemoAssay Science and Technology (Suzhou) Co.

Ltd., a China-incorporated company, and its affiliates (collectively, “HemoAssay”) in fiscal 2021.

The impairment charge was the result of lower revenue projections of the HemoAssay devices and disposables.

The fair value as December 27, 2025 was $ 0.9 million with a useful life of five years .

The Company calculated the fair value of the HemoAssay intangible assets as the present value of estimated future cash flows the Company expects to generate from the assets based on estimates and assumptions about future revenues, costs and the remaining useful lives of the assets.

Additionally, the Company performed an impairment analysis for certain other amortizable intangible assets based on undiscounted cash flows and concluded those assets were not impaired.

The Company will continue to review intangible assets subject to amortization for impairment indicators in future periods in accordance with its normal review processes.

During fiscal 2026, the Company recorded total intangible asset impairment charges of $ 86.5 million.

This included a $ 9.3 million intangible impairment charge related to the intellectual property associated with the HAS viscoelastic diagnostic devices, related assays and disposables within the MedSurg reportable segment, which was primarily recorded in the second quarter of fiscal 2026, and an intangible asset impairment charge of $ 77.2 million related to long-lived intangible assets associated with the acquisition of Attune Medical within the MedSurg reportable segment in the fourth quarter of fiscal 2026.

In the fourth quarter of fiscal 2026, the Company acquired Vivasure and recorded $ 117.1 million of developed technology based on the purchase accounting valuation.

Refer to Note 3, Acquisitions and Strategic Investments , for additional information regarding the acquisition.

Intangible assets include the value assigned to license rights and other developed technology, patents, customer contracts and relationship s and trade names.

During the three and nine months ended December 27, 2025, amortization expense was $ 12.4 million and $ 38.5 million, respectively.

During the three and nine months ended December 28, 2024, amortization expense was $ 13.9 million and $ 42.6 million, respectively.

The estimated useful lives for all of these intangible assets are approximately 5 to 15 years.

During the three months ended June 27, 2026 and June 28, 2025, amortization expense was $ 11.8 million and $ 13.3 million, respectively.

Future annual amortization expense on intangible assets for the next five years is estimated to be as follows:

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Notes payable and long-term debt consisted of the following:

December 27, 2025 March 29, 2025

June 27, 2026 March 28, 2026

(Dollars in Thousands)

Convertible notes, net of financing fees $ 987,665 $ 983,951

Convertible notes $ 689,622 $ 688,775

Term loan, net of financing fees 233,834 235,131

Revolving credit facility

250,000 300,000

Other borrowings 702 674

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Convertible Senior Notes

On March 5, 2021, the Company issued $ 500.0 million aggregate principal amount of 0.0 % convertible senior notes due 2026 (the “2026 Notes”).

The 2026 Notes are governed by the terms of the Indenture between the Company and U.S.

Bank Trust Company, National Association, as trustee.

The 2026 Notes will mature on March 1, 2026, at which time the Company expects to settle the remaining principal that has not been already converted, redeemed or repurchased through a combination of cash on hand and borrowings under its revolving credit facility.

In the first quarter of fiscal 2025, the Company repurchased $ 200.0 million of the aggregate principal amount for $ 185.5 million, resulting in a gain of $ 14.5 million related to the discount on repurchase.

As the repurchase of the 2026 Notes met the criteria for extinguishment accounting, $ 1.9 million of unamortized debt issuance costs were allocated to the repurchase, resulting in a net gain of $ 12.6 million, which was recorded in interest and other income (expense), net on the condensed consolidated statements of income.

Holders may convert their notes at their option at any time prior to the close of business on the business day immediately preceding September 1, 2025 only under the following circumstances:

• During any calendar quarter (and only during such calendar quarter) beginning after June 30, 2021, if, the last reported sale price per share of the Company’s common stock exceeds 130 % of the applicable conversion price on each applicable trading day for at least 20 trading days (whether or not consecutive) in the period of the 30 consecutive trading day period ending on, and including, the last trading day of the immediately preceding calendar quarter;

• During the five business day period after any five consecutive trading day period in which, for each day of that period, the trading price per $1,000 principal amount of the 2026 Notes for such trading day was less than 98 % of the product of the last reported sale price of the Company’s common stock and the applicable conversion rate on such trading day;

• The Company issues to common stockholders any rights, options, or warrants, entitling them, for a period of not more than 60 days, to purchase shares of common stock at a price per share less than the average closing sale price of 10 consecutive trading days, or the Company’s election to make a distribution to common stockholders exceeding 10 % of the previous day’s closing sale price;

• Upon the occurrence of specified corporate events, as set forth in the indenture governing the 2026 Notes;

• Prior to the related redemption date if the Company calls the 2026 Notes for redemption.

On or after September 1, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or a portion of their 2026 Notes, in multiples of $1,000 principal amount, at any time, regardless of the foregoing circumstances.

The conversion rate for the 2026 Notes is 5.7033 shares of common stock per $1,000 principal amount of notes (which is equal to an initial conversion price of approximately $ 175.34 per share of the Company’s common stock), subject to adjustment as set forth in the Indenture.

Upon conversion, the Company will pay cash up to the aggregate principal amount of the notes to be converted and pay or deliver, as the case may be, cash, common stock or a combination of cash and common stock, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the notes being converted.

If a make-whole adjustment event, as described in the Indenture, occurs and a holder elects to convert its 2026 Notes in connection with such make-whole adjustment event, such holder may be entitled to an increase in the conversion rate as described in the Indenture.

As of December 27, 2025, there have been no conversions of the 2026 Notes, which are classified as short-term debt on the Company’s condensed consolidated balance sheets.

The 2026 Notes will be redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after March 5, 2024 and on or before the 40th scheduled trading day immediately before the maturity date, if the last reported sale price per share of the Company’s common stock exceeds 130 % of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately before the date the Company sends the related redemption notice at a redemption price equal to 100 % of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest to, but excluding the redemption date.

Upon the occurrence of certain fundamental changes involving the Company, holders of the 2026 Notes may require the Company to repurchase for cash all or part of their 2026 Notes at a repurchase price equal to 100 % of the principal amount of the 2026 Notes to be repurchased, plus accrued and unpaid interest.

As of December 27, 2025, the $ 300.0 million principal balance was netted down by $ 0.3 million of remaining debt issuance costs, resulting in a net convertible note payable of $ 299.7 million.

Interest expense related to the 2026 Notes was $ 0.4 million and $ 1.2 million, respectively, for the three and nine months ended December 27, 2025, which is entirely attributable to the amortization of the debt issuance costs.

The remaining debt issuance costs are amortized at an effective interest rate of 0.5 %.

On May 28, 2024, the Company issued $ 700.0 million aggregate principal amount of 2.5 % convertible senior notes due 2029 (the “2029 Notes”).

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Bank Trust Company, National Association, as trustee.

The total net proceeds from the sale of the 2029 Notes, after deducting the initial purchasers’ discounts and debt issuance costs, were $ 682.8 million, with a portion of funds used to repay the entirety of the balance on the revolving credit facility under the Company’s second amended and restated credit agreement, to repurchase a portion of the Company’s 2026 Notes, to complete capped call transactions in connection with the issuance of the 2029 Notes, as described further below, with the remaining proceeds available for other working capital requirements.

The total net proceeds from the sale of the 2029 Notes, after deducting the initial purchasers’ discounts and debt issuance costs, were $ 682.8 million, with a portion of funds used to repay the entirety of the balance on the revolving credit facility under the Company’s second amended and restated credit agreement, to repurchase a portion of the Company’s convertible senior notes due in 2026, to complete capped call transactions in connection with the issuance of the 2029 Notes, as described further below, with the remaining proceeds available for other working capital requirements.

The 2029 Notes will mature on June 1, 2029, unless earlier converted, redeemed or repurchased.

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If a make-whole adjustment event, as described in the Indenture, occurs and a holder elects to convert its 2029 Notes in connection with such make-whole adjustment event, such holder may be entitled to an increase in the conversion rate as described in the Indenture.

During the third quarter of fiscal 2026, the conditions allowing holders of the 2029 Notes to convert have not been met.

The 2029 Notes were therefore not convertible as of December 27, 2025 and were classified as long-term debt on the Company’s consolidated balance sheets.

During the first quarter of fiscal 2027, the conditions allowing holders of the 2029 Notes to convert have not been met.

The 2029 Notes were therefore not convertible as of June 27, 2026 and were classified as long-term debt on the Company’s consolidated balance sheets.

The 2029 Notes will be redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after June 5, 2027 and on or before the 50th scheduled trading day immediately before the maturity date, if the last reported sale price per share of the Company’s common stock exceeds 130 % of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately before the date the Company sends the related redemption notice at a redemption price equal to 100 % of the principal amount of the 2029 Notes to be redeemed, plus accrued and unpaid interest to, but excluding the redemption date.

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As a result of the issuance of the 2029 Notes, the Company recorded debt issuance costs of $ 17.2 million, which are amortized to interest expense over the contractual term of the 2029 Notes at an effective interest rate of 3.0 %.

As of December 27, 2025, the $ 700.0 million principal balance was netted down by $ 12.1 million of remaining debt issuance costs, resulting in a net convertible note payable of $ 687.9 million.

Interest expense related to the 2029 Notes was $ 5.2 million and $ 15.6 million, respectively, for the three and nine months ended December 27, 2025, which includes nominal interest expense and the amortization of the debt issuance costs.

As of June 27, 2026, the $ 700.0 million principal balance was netted down by $ 10.4 million of remaining debt issuance costs, resulting in a net convertible note payable of $ 689.6 million.

Interest expense related to the 2029 Notes was $ 5.2 million and for the three months ended June 27, 2026, which includes nominal interest expense and the amortization of the debt issuance costs.

The nominal interest rate is 2.5 % and the remaining debt issuance costs are amortized at an effective interest rate of 3.0 %.

In connection with the issuance of the 2026 Notes and the 2029 Notes, the Company entered into capped call transactions with certain counterparties (“Capped Calls”).

The 2026 Notes Capped Calls each have an initial strike price of approximately $ 175.34 per share, and the 2029 Notes Capped Calls each have an initial strike price of approximately $ 117.12 per share, both subject to certain adjustments, which correspond to the initial conversion price of the convertible notes.

The 2026 Notes Capped Calls have initial cap prices of $ 250.48 , and the 2029 Notes Capped Calls have initial cap prices of $ 180.18 per share, both subject to certain adjustments.

The Capped Calls are expected to partially offset the potential dilution to the Company’s common stock upon any conversion of the 2026 Notes and 2029 Notes, with such offset subject to a cap based on the cap price.

The 2026 Notes Capped Calls cover approximately 2,851,668 shares of the Company’s common stock, and the 2029 Notes Capped Calls cover approximately 5,976,929 shares of the Company’s common stock, both subject to anti-dilution adjustments.

For accounting purposes, the Capped Calls are separate transactions, and not part of the 2026 Notes and 2029 Notes.

In connection with the issuance of the 2029 Notes, the Company entered into capped call transactions with certain counterparties (“Capped Calls”).

The 2029 Notes Capped Calls each have an initial strike price of approximately $ 117.12 per share, and is subject to certain adjustments, which correspond to the initial conversion price of the convertible notes.

The 2029 Notes Capped Calls have initial cap prices of $ 180.18 per share and is subject to certain adjustments.

The Capped Calls are expected to partially offset the potential dilution to the Company’s common stock upon any conversion of the 2029 Notes, with such offset subject to a cap based on the cap price.

The 2029 Notes Capped Calls cover approximately 5.98 million shares of the Company’s common stock and is subject to anti-dilution adjustments.

For accounting purposes, the Capped Calls are separate transactions, and not part of the 2029 Notes.

As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders’ equity and are not accounted for as derivatives.

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Credit Facilities

On July 26, 2022, the Company entered into an amended and restated credit agreement to refinance its credit facilities initially entered into in 2018 and extended their maturity dates through June 2025.

The amended and restated credit agreement provided for a $ 700.0 million facility (the “2022 Revised Credit Facility”).

On April 30, 2024, the Company entered into a second amended and restated credit agreement with certain lenders to refinance the 2022 Revised Credit Facility and extend their maturity date through April 2029.

The second amended and restated credit agreement provides for a $ 250.0 million senior unsecured term loan, the proceeds of which, along with $ 12.5 million of cash on hand, were used to retire the balance of the term loan under the 2022 Revised Credit Facility, and a $ 750.0 million senior unsecured revolving credit facility (together, the “2024 Revised Credit Facilities”).

On April 30, 2024, the Company entered into a second amended and restated credit agreement with certain lenders to refinance its credit facilities initially entered into in 2022 and extended their maturity date through April 2029.

The second amended and restated credit agreement provides for a $ 250.0 million senior unsecured term loan, and a $ 750.0 million senior unsecured revolving credit facility (together, the “2024 Revised Credit Facilities”).

Loans under the 2024 Revised Credit Facilities bear interest at an annual rate equal to the Adjusted Term SOFR Rate (as specified in the second amended and restated credit agreement), which is subject to a floor of 0 %, plus an applicable rate ranging from 1.125 % to 1.750 % based on the Company’s consolidated net leverage ratio (as specified in the second amended and restated credit agreement) at the applicable measurement date.

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The Company applied modification accounting for the credit facility refinancing, which resulted in the capitalization of an additional $ 5.9 million in lender fees and third-party costs.

During the three and nine months ended December 27, 2025, the Company recognized $ 4.1 million and $ 12.6 million, respectively, of interest expense and amortization of debt issuance costs related to its credit facilities.

During the three and nine months ended December 28, 2024, the Company recognized $ 4.6 million and $ 16.6 million, respectively, of interest expense and amortization of debt issuance costs related to its credit facilities.

As of December 27, 2025, $ 240.6 million was outstanding under the term loan with an effective interest rate of 5.8 %, which was netted down by the $ 4.3 million of remaining debt discount, resulting in a net note payable of $ 236.3 million.

The Company has scheduled principal payments of $ 6.3 million required during the 12 months following December 27, 2025.

There were no outstanding borrowings under the revolving credit facilities as of December 27, 2025.

The Company also had $ 18.2 million of uncommitted operating lines of credit to fund its global operations under which there were no outstanding borrowings as of December 27, 2025.

The Company was in compliance with the consolidated net leverage and interest coverage ratios specified in the 2024 Revised Credit Facilities as well as all other bank covenants as of December 27, 2025.

During the three months ended June 27, 2026 and June 28, 2025, the Company recognized $ 7.2 million and $ 4.3 million, respectively, of interest expense and amortization of debt issuance costs related to its credit facilities.

As of June 27, 2026, $ 237.5 million was outstanding under the term loan with an effective interest rate of 5.7 %, which was netted down by the $ 3.7 million of remaining debt discount, resulting in a net note payable of $ 233.8 million.

The Company has scheduled principal payments of $ 6.3 million required during the 12 months following June 27, 2026.

In connection with the settlement of the convertible senior notes due in 2026, the Company borrowed $ 300.0 million under the revolving credit facility.

During the first quarter of fiscal 2027, the Company repaid $ 50.0 million of the outstanding amount under the revolving credit facility.

As of June 27, 2026, $ 250.0 million remained outstanding under the revolving credit facility.

During the second quarter of fiscal 2027, the Company repaid an additional $ 50.0 million on the revolving credit facility.

The Company also had $ 17.5 million of uncommitted operating lines of credit to fund its global operations under which there were no outstanding borrowings as of June 27, 2026.

The Company was in compliance with the consolidated net leverage and interest coverage ratios specified in the 2024 Revised Credit Facilities as well as all other bank covenants as of June 27, 2026.

Commitment Fee

Pursuant to the 2024 Revised Credit Facilities, the Company is required to pay, on the last day of each calendar quarter, a commitment fee on the unused portion of the revolving credit facility.

The commitment fee is subject to a pricing grid based on the Company’s consolidated net leverage ratio.

The commitme nt fee ranges from 0.125 % to 0.250 %.

The current commitment fee on the undrawn portion of the revolving credit facility is 0.200 %.

The future aggregate amount of debt maturities are as follows:

7 unchanged sentences

Thereafter 386

Total debt maturities $ 1,188,202

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

The Company manufactures, markets and sells its products globally.

During the three and nine months ended December 27, 2025, 26.9 % and 26.1 %, respectively, of the Company’s sales were generated outside the U.S.

During the three months ended June 27, 2026 and June 28, 2025, 24.0 % and 24.6 %, respectively, of the Company’s sales were generated outside the U.S.

in local currencies.

8 unchanged sentences

Designated Foreign Currency Hedge Contracts

All of the Company’s designated foreign currency hedge contracts as of December 27, 2025 and March 29, 2025 were cash flow hedges under FASB ASC Topic 815, Derivatives and Hedging (“ASC 815”).

All of the Company’s designated foreign currency hedge contracts as of June 27, 2026 and March 28, 2026 were cash flow hedges under FASB ASC Topic 815, Derivatives and Hedging (“ASC 815”).

The Company records the effective portion of any change in the fair value of designated foreign currency hedge contracts in other comprehensive income until the related third-party transaction occurs.

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In the event the hedged forecasted transaction does not occur, or it becomes probable that it will not occur, the Company will reclassify the amount of any gain or loss on the related cash flow hedge to earnings at that time.

The Company had designated foreign currency hedge contracts outstanding in the contract amount of $ 49.9 million as of December 27, 2025 and $ 23.6 million as of March 29, 2025.

As of December 27, 2025, a gain of $ 2.4 million, net of tax, will be reclassified to earnings within the next eighteen months.

Substantially all currency cash flow hedges outstanding as of December 27, 2025 mature within eighteen months.

The Company had designated foreign currency hedge contracts outstanding in the contract amount of $ 19.5 million as of June 27, 2026 and $ 30.1 million as of March 28, 2026.

As of June 27, 2026, a gain of $ 0.1 million, net of tax, will be reclassified to earnings within the next eighteen months.

Substantially all currency cash flow hedges outstanding as of June 27, 2026 mature within eighteen months.

Non-Designated Foreign Currency Contracts

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These forward contracts are marked-to-market with changes in fair value recorded to earnings.

The Company had non-designated foreign currency hedge contracts under ASC 815 outstanding in the contract amount of $ 121.4 million as of December 27, 2025 and $ 89.6 million as of March 29, 2025.

The Company had non-designated foreign currency hedge contracts under ASC 815 outstanding in the contract amount of $ 56.3 million as of June 27, 2026 and $ 75.3 million as of March 28, 2026.

Interest Rate Swaps

1 unchanged sentence

The Company’s objective in using interest rate swaps is to add stability to interest expense and to manage and reduce the risk inherent in interest rate fluctuations.

To mitigate the interest rate risk on the Company’s senior unsecured term loan, in September 2022, the Company entered into four interest rate swaps, two of which expired in June 2023 and the remaining two were amended and extended in September 2024 and mature in April 2029.

The amendment and extension of the two interest rate swaps did not have a material impact on the condensed consolidated financial statements.

In September 2024, the Company amended and extended two interest rate swaps on its senior unsecured term loan through April 2029 to mitigate the interest rate risk.

This did not have a material impact on the condensed consolidated financial statements.

Loans under the 2024 Revised Credit Facilities bear interest at an annual rate equal to the 1-month USD Term SOFR, plus an applicable rate ranging from 1.125 % to 1.750 % based on the Company’s consolidated net leverage ratio.

1 unchanged sentence

The Company has determined both of these interest rate swaps are effective and qualify for hedge accounting treatment.

The Company held the following interest rate swaps as of December 27, 2025:

Hedged Item Original Notional Amount Notional Amount as of December 27, 2025

The Company held the following interest rate swaps as of June 27, 2026:

Hedged Item Original Notional Amount Notional Amount as of June 27, 2026

Designation Date Effective Date Termination Date Fixed Interest Rate Estimated Asset Fair Value

3 unchanged sentences

Total $ 219,800 $ 197,985 $ 2,625

For the nine months ended December 27, 2025, the Company recognized a gain on the interest rate swaps to recognize the effective portion of the fair value of the swaps that qualify as cash flow hedges of $ 1.9 million, net of tax, in accumulated other comprehensive loss (“AOCL”) within the condensed consolidated balance sheets.

For the three months ended June 27, 2026, the Company recognized a gain on the interest rate swaps to recognize the effective portion of the fair value of the swaps that qualify as cash flow hedges of $ 0.7 million, net of tax, in accumulated other comprehensive loss (“AOCL”) within the condensed consolidated balance sheets.

Trade Receivables

7 unchanged sentences

The following is a roll forward of the allowance for credit losses:

Allowance for Credit Losses (Recoveries)

Allowance for Credit Losses (Write-offs/Recoveries)

(Dollars in Thousands)

1 unchanged sentence

Credit loss 38

Write-offs ( 108 )

Recoveries ( 5 )

Balance as of December 27, 2025

Balance as of June 27, 2026

Other Fair Value Measurements

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Fair Value of Derivative Instruments

The following table presents the effect of the Company’s derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC 815 in its condensed consolidated statements of income for the nine months ended December 27, 2025:

Derivative Instruments Amount of Gain Recognized

4 unchanged sentences

(Dollars in Thousands)

Designated foreign currency hedge contracts, net of tax $ 2,362 $ ( 694 ) Net revenues, cost of goods sold and SG&A $ 1,974 Interest and other expense, net

Designated foreign currency hedge contracts, net of tax $ 133 $ 116 Net revenues, COGS and SG&A $ 315 Interest and other expense, net

Non-designated foreign currency hedge contracts $ — $ — $ ( 21 ) Interest and other expense, net

Designated interest rate swaps, net of tax $ 664 $ ( 11 ) Interest and other expense, net $ —

The Company did not have fair value hedges or net investment hedges outstanding as of December 27, 2025 or March 29, 2025.

As of December 27, 2025, there were no material deferred taxes recognized for designated foreign currency hedges.

The Company did not have fair value hedges or net investment hedges outstanding as of June 27, 2026 or March 28, 2026.

As of June 27, 2026, there were no material deferred taxes recognized for designated foreign currency hedges.

ASC 815 requires all derivative instruments to be recognized at their fair values as either assets or liabilities on the balance sheet.

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and inputs derived principally from, or corroborated by, observable market data by correlation or other means.

As of December 27, 2025, the Company has classified its derivative assets and liabilities within Level 2 of the fair value hierarchy prescribed by ASC 815, as discussed below, because these observable inputs are available for substantially the full term of its derivative instruments.

The following tables present the fair value of the Company’s derivative instruments as they appear in its condensed consolidated balance sheets as of December 27, 2025 and March 29, 2025:

Classification December 27, 2025 March 29, 2025

As of June 27, 2026, the Company has classified its derivative assets and liabilities within Level 2 of the fair value hierarchy prescribed by ASC 815, as discussed below, because these observable inputs are available for substantially the full term of its derivative instruments.

The following tables present the fair value of the Company’s derivative instruments as they appear in its condensed consolidated balance sheets as of June 27, 2026 and March 28, 2026:

Classification June 27, 2026 March 28, 2026

(Dollars in Thousands)

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Non-designated foreign currency hedge contracts Other current liabilities 35 63

Designated interest rate swaps Other long-term liabilities 277 —

Total $ 132 $ 113

Fair Value Measured on a Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of December 27, 2025 and March 29, 2025.

December 27, 2025

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of June 27, 2026 and March 28, 2026.

June 27, 2026

Level 1 Level 2 Level 3 Total

7 unchanged sentences

Non-designated foreign currency hedge contracts — 35 — 35

Designated interest rate swaps — 277 — 277

Contingent consideration — 21,016 21,016

20 unchanged sentences

Fair Value as of

December 27, 2025 Valuation Technique Unobservable Input Range

June 27, 2026 Valuation Technique Unobservable Input Range

(Dollars in Thousands)

3 unchanged sentences

Projected fiscal year of payment 2027 - 2028

The fair value of contingent consideration associated with acquisitions was $ 3.2 million as of December 27, 2025 and the total was included in other long-term liabilities on the condensed consolidated balance sheets.

$ 17,654 Monte Carlo Simulation Model Discount rate 3.0 %

Projected fiscal year of payment 2027

Fair Value as of

March 28, 2026 Valuation Technique Unobservable Input Range

(Dollars in Thousands)

Revenue-based payments $ 3,076 Monte Carlo Simulation Model Discount rate 3.4 %

Projected fiscal year of payments 2028 - 2030

Event-based payment $ 390 Monte Carlo Simulation Model Discount rate 5.8 %

Projected fiscal year of payment 2027 - 2028

$ 17,597 Monte Carlo Simulation Model Discount rate 3.0 %

Projected fiscal year of payment 2027

The fair value of contingent consideration associated with acquisitions was $ 21.0 million and $ 21.1 million as of June 27, 2026 and March 28, 2026, respectively.

As of June 27, 2026, $ 17.9 million was included in other current liabilities and $ 3.1 million was included in other long-term liabilities.

As of March 28, 2026, $ 17.6 million was included in other current liabilities and $ 3.4 million was included in other long-term liabilities.

A reconciliation of the change in the fair value of contingent consideration is included in the following table:

2 unchanged sentences

Balance as of March 28, 2026

Payment of contingent consideration ( 9 )

Change in fair value ( 47 )

Balance as of December 27, 2025

Balance as of June 27, 2026

Other Fair Value Disclosures

The fair values of the 2026 Notes and 2029 No tes were $ 297.0 million and $ 727.9 million, respectively, as o f December 27, 2025, and $ 286.3 million and $ 668.4 million, respectively, as of March 29, 2025, which were determined by using the market price on the last trading day of the reporting period and are considered as level 2 in the fair value hierarchy.

The senior unsecured term loan (which is carried at amortized cost), accounts receivable and accounts payable approximate fa ir value.

The fair value of the 2029 No tes was $ 714.7 million and $ 662.4 million as o f June 27, 2026 and March 28, 2026, respectively, which were determined by using the market price on the last trading day of the reporting period and are considered as level 2 in the fair value hierarchy.

The senior unsecured term loan (which is carried at amortized cost), the revolving credit facility, accounts receivable and accounts payable approximate fa ir value.

COMMITMENTS AND CONTINGENCIES

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Legal costs are expensed as incurred.

Sensor-Guided Technologies Patent Litigation

During the fourth quarter of fiscal 2024, a complaint was filed in the U.S.

District Court for the District of Delaware by Knoninklijke Philips N.V.

and IP2IPO Innovations, Ltd.

(together, the “Plaintiffs”) against OpSens, OpSens Medical, Inc., a wholly-owned subsidiary of Haemonetics, and Haemonetics (1:24-cv-00206-CFC).

The complaint alleged, inter alia, that OpSens’ interventional cardiology systems, including its OptoWire and OptoMonitor ® technology, infringed a single patent held by the Plaintiffs and sought both injunctive relief and damages.

The Company recorded loss contingencies related to this matter in the first and fourth quarters of fiscal 2025 and in the first quarter of fiscal 2026, which did not have a material impact on its condensed consolidated financial statements.

In the second quarter of fiscal 2026, the parties entered into a final confidential settlement agreement to resolve the matter, which the court approved, and the Company recorded an immaterial additional loss contingency relating to final settlement of the matter.

Plasma Patent Litigation

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On September 2, 2025, Terumo filed a partial motion to dismiss with prejudice claiming that the Company’s asserted patents were invalid under 35 U.S.C.

Terumo has also filed inter partes and post-grant review petitions with the U.S.

Terumo filed nine inter partes and post-grant review petitions with the U.S.

Patent and Trademark Office (PTO) seeking to invalidate the asserted patents.

In October 2025, Terumo filed a motion to stay the district court proceedings pending resolution of the PTO petitions.

The Company filed responses opposing Terumo’s motions in November 2025.

Two of the pending petitions have been instituted for further review.

All nine of the petitions were denied by the PTO, rendering moot the motion to stay.

During the second quarter of fiscal 2026, the Company filed a complaint against Fresenius Kabi USA LLC in U.S.

4 unchanged sentences

In December 2025, the Fenwal filed its answer and counterclaims, alleging non-infringement and invalidity of the Company’s asserted patents and alleging infringement by the Company of certain of Fenwal’s U.S.

In May 2026, Fenwal amended its counterclaim, alleging inequitable conduct and Walker Process antitrust violations.

The Company has filed its answer, denying all counterclaims.

While the Company will incur costs in the course of pursuing these claims, and the outcome of litigation is inherently uncertain, the Company believes this is a necessary and appropriate action to safeguard its innovations, protect its intellectual property, and further the growth and development of its business.

CAPITAL STOCK

Share-Based Compensation

Compensation cost related to share-based transactions is recognized in the consolidated financial statements based on fair value.

The total amount of share-based compensation expense, which is recorded on a straight-line basis, is as follows:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

(Dollars in Thousands)

Selling, general and administrative expenses $ 7,243 $ 7,023 $ 21,854 $ 20,044

Research and development 659 661 1,866 1,298

Cost of goods sold ( 103 ) 530 980 1,357

Total share-based compensation $ 7,799 $ 8,214 $ 24,700 $ 22,699

Stock Options

Options are granted to purchase common stock at prices as determined by the Committee, but in no event shall such exercise price be less than the fair market value of the common stock at the time of the grant.

Options generally vest in equal installments over a four-year period for employees.

Options expire not more than seven years from the date of the grant.

The grant-date fair value of options, adjusted for estimated forfeitures, is recognized as expense on a straight-line basis over the requisite service period, which is generally the vesting period.

Forfeitures are estimated based on historical experience.

A summary of stock option activity for the nine months ended December 27, 2025 is as follows:

Outstanding Weighted

Exercise Price

per Share Weighted Average

Life (years) Aggregate

(Dollars in Thousands, Except Share and Per Share Data)

Outstanding as of March 29, 2025 993,587 $ 81.75 3.5 $ 2,249

Granted 224,048 $ 70.14

Exercised ( 33,896 ) $ 57.96

Forfeited/Canceled ( 156,212 ) $ 89.26

Outstanding as of December 27, 2025 1,027,527 $ 78.87 3.9 $ 9,499

Exercisable as of December 27, 2025 610,067 $ 79.80 2.4 $ 6,300

Vested or expected to vest as of December 27, 2025 942,147 $ 79.02 3.9 $ 8,874

As of December 27, 2025, there was $ 11.5 million of total unrecognized compensation cost related to non-vested stock options.

This cost is expected to be recognized over a weighted average period of 2.7 years.

Restricted Stock Units

Restricted Stock Units (“RSUs”) generally vest in equal installments over a three or four-year period for employees and one year from grant for non-employee directors.

The grant-date fair value of RSUs, adjusted for estimated forfeitures, is recognized as expense on a straight-line basis over the requisite service period, which is generally the vesting period.

The fair market value of RSUs is determined based on the market value of the Company’s shares on the date of grant.

A summary of RSU activity for the nine months ended December 27, 2025 is as follows:

Shares Weighted

Grant Date Fair Value

Unvested as of March 29, 2025 303,003 $ 81.27

Granted 224,192 $ 70.56

Vested ( 156,761 ) $ 78.40

Forfeited ( 38,142 ) $ 78.11

Unvested as of December 27, 2025 332,292 $ 75.76

As of December 27, 2025, there was $ 17.5 million of total unrecognized compensation cost related to non-vested restricted stock units.

This cost is expected to be recognized over a weighted average period of 1.8 years.

Performance Share Units

The grant date fair value of Performance Share Units (“PSUs”), adjusted for estimated forfeitures, is recognized as expense on a straight-line basis from the grant date through the end of the performance period.

The value of these PSUs is generally based on (i) relative total shareholder return (“rTSR”), which equals the total shareholder return for the Company as compared with the total shareholder return of a PSU comparison group and;

(ii) the average annual organic revenue growth rate (“AAGR”) of the Company, both of which are measured over a three-year performance period.

For outstanding rTSR-based PSUs, the comparison group for awards granted prior to fiscal 2026 consists of the components of the Standard and Poor’s (“S&P”) MidCap 400 Index and for awards granted in fiscal 2026 consists of the components of the S&P Health Care Equipment Select Industry Index.

Depending on the Company’s performance under the above-mentioned PSU awards during the performance period, a recipient of the award is entitled to receive a number of ordinary shares equal to a percentage, ranging from 0 % to 200 % of the award granted.

If the Company’s total shareholder return for the performance period is negative, then any share payout for rTSR-based PSU awards will be capped at 100 % of the target award, regardless of the Company’s performance relative to the comparison group.

As a result, the Company may issue up to 715,262 shares related to outstanding performance-based awards.

A summary of PSU activity for the nine months ended December 27, 2025 is as follows:

Shares Weighted

Grant Date Fair Value

Unvested as of March 29, 2025 335,843 $ 112.10

220,349 $ 87.66

( 162,066 ) $ 84.96

Forfeited ( 36,495 ) $ 114.24

Unvested as of December 27, 2025 357,631 $ 108.86

(1) Includes 35,443 shares issued for awards vested during fiscal 2026 based on achievement of performance metrics.

(2) Includes the vesting of 162,066 shares that were earned for rTSR-based PSU awards granted in fiscal 2023 for performance periods ending during fiscal 2026, representing 128 % of the target award.

As of December 27, 2025, there was $ 22.1 million of total unrecognized compensation cost related to non-vested performance share units deemed probable of vesting.

This cost is expected to be recognized over a weighted average period of 1.9 years.

ACCUMULATED OTHER COMPREHENSIVE LOSS

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— — ( 105 ) ( 105 )

Balance as of December 27, 2025 $ ( 35,537 ) $ 1,149 $ ( 222 ) $ ( 34,610 )

Balance as of June 27, 2026 $ ( 44,040 ) $ 746 $ 1,665 $ ( 41,629 )

(1) Presented net of income taxes, the amounts of which are insignificant.

SEGMENT AND ENTERPRISE-WIDE INFORMATION

The Company determines its reportable segments by first identifying its operating segments, and then by assessing whether any components of these segments constitute a business for which discrete financial information is available and where segment management regularly reviews the operating results of that component.

The Company’s reporting structure aligns with its operating structure of three global business units and the information that is regularly reviewed by the Company’s chief operating decision maker (“CODM”), identified as the Company’s Chief Executive Officer.

This organizational structure reflects how the Company is organized to manage operations, allocate resources and evaluate performance.

As a result, the information that is regularly reviewed by the Company’s chief operating decision maker (“CODM”), identified as the Chief Executive Officer, has changed.

Prior-period segment information presented has been recast to reflect the current reportable segment structure.

The Company’s reportable and operating segments are as follows:

• Blood Center

The CODM measures and evaluates the operating segments based on operating income for purposes of assessing business performance and allocating resources.

The CODM uses segment operating income for each segment by comparing on a quarterly basis actual results to the prior year comparable period and to the annual operating plan to assess the performance of the segments and to allocate resources across our segments.

Certain corporate expenses and amounts considered to be non-recurring or non-operational are excluded from segment operating income.

These items include acquisition, integration and divestiture related costs , amortization of acquired assets, restructuring costs, restructuring related costs, digital transformation costs related to the upgrade of the Company’s enterprise resource planning system, impairments and write downs, costs related to compliance with the European Union Medical Device Regulation (“MDR”) and In Vitro Diagnostic Regulation (“IVDR”), unusual or infrequent and material litigation-related charges and gains, losses on dispositions and sale of assets, remeasurement of the contingent consideration and unusual or infrequent gains such as on repurchases of convertible notes or divestitures.

These items include restructuring costs, restructuring related costs, digital transformation costs, amortization of acquired intangible assets, amortization of fair value inventory step-up, acquisition, integration and divestiture related costs, unusual or infrequent and material litigation-related charges, and remeasurement of contingent consideration.

Although these amounts are excluded from segment operating income, as applicable, they are included in the reconciliations that follow.

During the fourth quarter of fiscal 2025, the CODM began reviewing financial information including allocations of certain corporate costs including global functional support and overhead costs determined to benefit the segments.

The prior period segment disclosures have been recast to reflect the new presentation.

The Company does not track its assets by segment, and as a result it is not practical to show assets or depreciation by segment.

Consequently, the Company’s CODM does not review assets by segment when assessing business performance and allocating resources.

The Company does not track its total assets by segment.

Consequently, the Company’s CODM does not review total assets by segment when assessing business performance and allocating resources.

Selected information by reportable segment is presented below:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

Net revenues:

Plasma $ 138,905 $ 134,224 $ 394,166 $ 408,695

Blood Center 56,560 70,345 164,853 205,118

Hospital 143,502 143,973 428,657 416,412

Apheresis $ 191,318 $ 181,736

MedSurg 148,062 139,658

Total net revenues $ 339,380 $ 321,394

3 unchanged sentences

Research and development 6,378 6,816

Plasma operating income $ 50,227 $ 47,729 $ 141,103 $ 133,878

Cost of goods sold $ 29,097 $ 40,235 $ 81,993 $ 112,726

Selling, general and administrative 13,472 14,311 40,658 45,115

Research and development 966 1,476 3,462 4,373

Blood Center operating income $ 13,025 $ 14,323 $ 38,740 $ 42,904

Apheresis operating income $ 56,545 $ 59,175

Cost of goods sold $ 50,368 $ 50,216

1 unchanged sentence

Research and development 9,820 8,742

Hospital operating income $ 25,924 $ 27,385 $ 74,162 $ 67,181

MedSurg operating income $ 22,714 $ 18,377

Corporate and unallocated expenses

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Income before provision for income taxes $ 47,574 $ 45,169

(1) Comprised of litigation-related charges, impairment of intangible assets, and the write downs of certain assets for the three and nine months ended December 27, 2025.

Comprised of MDR and IVDR costs, litigation-related charges, gains on sale of property, plant and equipment, impairment of intangible assets, and the write downs of certain assets for the three and nine months ended December 28, 2024.

(1) Comprised of litigation-related charges and remeasurement of contingent consideration for the three months ended June 27, 2026 and June 28, 2025.

Net revenues by business unit are as follows:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

Plasma net revenues $ 138,905 $ 134,224 $ 394,166 $ 408,695

Apheresis 56,560 55,388 164,447 158,814

Whole Blood — 14,957 406 46,304

Blood Center net revenues 56,560 70,345 164,853 205,118

Plasma $ 155,524 $ 145,074

Other 35,794 36,662

Apheresis net revenues $ 191,318 $ 181,736

Interventional Technologies $ 59,942 $ 58,483

Blood Management Technologies 88,120 81,175

Hospital net revenues 143,502 143,973 428,657 416,412

MedSurg net revenues $ 148,062 $ 139,658

Total net revenues $ 339,380 $ 321,394

Depreciation and amortization, excluding impairment charges, by business unit are as follows:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

Plasma $ 11,525 $ 12,058 $ 35,711 $ 36,006

Blood Center 1,768 2,142 5,376 8,332

Hospital 14,092 14,825 43,311 43,040

Apheresis $ 13,631 $ 13,912

MedSurg 13,480 14,846

Total depreciation and amortization (excluding impairment charges) $ 27,111 $ 28,758

Long-lived assets, comprised of property, plant and equipment, by business unit are as follows:

December 27, 2025 March 29, 2025

June 27, 2026 March 28,

(Dollars in Thousands)

Plasma $ 207,840 $ 189,833

Blood Center 41,333 40,337

Hospital 48,061 53,882

Apheresis $ 244,089 $ 246,042

MedSurg 59,689 59,719

Total long-lived assets $ 303,778 $ 305,761

Long-lived assets, comprised of property, plant and equipment, by operating regions are as follows:

December 27, 2025 March 29, 2025

June 27, 2026 March 28,

(Dollars in Thousands)

6 unchanged sentences

Net revenues by operating regions are as follows:

Three Months Ended Nine Months Ended

December 27, 2025 December 28, 2024 December 27, 2025 December 28, 2024

Three Months Ended

June 27, 2026 June 28, 2025

(Dollars in Thousands)

6 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements