Financial Analysis

3. ACQUISITIONS, DIVESTITURES 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. The Company financed this transaction through available cash on hand. Vivasure is a Galway, Ireland-based company pioneering next-generation technology for percutaneous vessel closure. Vivasures PerQseal Elite system uses a proprietary bioabsorbable patch to seal large-bore (up to 26 F) arteriotomies and venotomies from inside the vessel, offering a sutureless, fully absorbable solution for structural heart and endovascular procedures. 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 …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

14. COMMITMENTS AND CONTINGENCIES The Company is a party to various legal proceedings and claims arising out of the ordinary course of its business. The Company believes that, except for those matters described below, there are no other proceedings or claims pending against it the ultimate resolution of which could have a material adverse effect on its financial condition or results of operations. At each reporting period, management evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under FASB ASC Topic 450, Contingencies, for all matters. 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 …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

12. NOTES PAYABLE AND LONG-TERM DEBT Notes payable and long-term debt consisted of the following: December 27, 2025 March 29, 2025 (Dollars in Thousands) Convertible notes, net of financing fees $ 987,665 $ 983,951 Term loan, net of financing fees 236,311 240,028 Other borrowings 757 809 Total debt 1,224,733 1,224,788 Less: current portion (304,746) (303,558) Long-term debt $ 919,987 $ 921,230 Convertible Senior Notes 2026 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 in …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

15. 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: Options Outstanding Weighted Average Exercise Price per Share Weighted Average Remaining Life (years) Aggregate Intrinsic Value …

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11. 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 (Dollars in Thousands) Carrying amount as of March 29, 2025 $ 29,043 $ 26,967 $ 548,259 $ 604,269 Currency translation 10 2,546 2,556 Carrying amount as of December 27, 2025 $ 29,043 $ 26,977 $ 550,805 $ 606,825 The gross carrying amount of intangible assets and the related accumulated amortization as of December 27, 2025 and March 29, 2025 are as follows: Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) December 27, 2025 (Dollars in Thousands) Amortizable: Developed technology $ 511,341 $ 184,414 $ 326,927 9.6 Customer contracts and related relationships 137,291 75,330 61,961 11.3 Capitalized software 94,136 80,834 13,302 3.3 Patents and other 7,422 4,458 2,964 5.7 Trade names 16,177 7,086 9,091 10.3 Total $ 766,367 $ 352,122 $ 414,245 Non-amortizable: In-process software development $ 5,489 Total $ 5,489 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) March 29, 2025 (Dollars in Thousands) Amortizable: Developed technology $ 506,144 $ 156,123 $ 350,021 12.1 Customer contracts and related relationships 135,561 70,842 64,719 12.6 Capitalized software 85,528 76,185 9,343 6.9 Patents and other 19,678 6,796 12,882 8.5 Trade names 15,955 6,367 9,588 12.3 Total $ 762,866 $ 316,313 $ 446,553 Non-amort …

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6. INCOME TAXES The Company conducts business globally and reports its results of operations in a number of foreign jurisdictions in addition to the United States. The Companys reported tax rate differs from the statutory tax rate due to the jurisdictional mix of earnings in any given period as the foreign jurisdictions in which it operates have tax rates that differ from the U.S. statutory tax rate. The Companys 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 benef …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

5. 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. 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 Companys 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. 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 f …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

4. REVENUE 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. The Company expects to recognize approximately 79% of this amount as revenue within the next twelve months and the remaining balance thereafter. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables and contract assets, as well as customer advances, customer deposits and deferred revenue (contract liabilities) on the condensed consolidated balance sheets. 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. Contract liabilities are classified as other current liabilities on the condensed consolidated balance sheets. As of December 27, 2025 and March 29, 2025, the Companys contract assets were $5.7 million and $11.6 million, respectively. …

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17. 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 Companys reporting structure aligns with its operating structure of three global business units and the information that is regularly reviewed by the Companys chief operating decision maker (CODM), identified as the Companys Chief Executive Officer. The Companys reportable and operating segments are as follows: Plasma Blood Center Hospital The CODM measures and evaluates the operating segments based on operating income for purposes of assessing business performance and allocating resources. 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 Companys 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 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

16. ACCUMULATED OTHER COMPREHENSIVE LOSS The components of AOCL, net of tax, are as follows: Foreign Currency Defined Benefit Plans Net Unrealized Gain (Loss) on Derivatives Total (Dollars in Thousands) Balance as of March 29, 2025 $ (56,248) $ 1,149 $ 15 $ (55,084) Other comprehensive income before reclassifications (1) 20,711 456 21,167 Amounts reclassified from AOCL (1) (693) (693) Balance as of December 27, 2025 $ (35,537) $ 1,149 $ (222) $ (34,610) __________ (1) Presented net of income taxes, the amounts of which are insignificant. …

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