A：The organic growth x CSL figure excludes the impact of the divestiture of the whole blood product lines, the exit of certain liquid solution products, and the transition of CSL's U.S. disposable business.

A：For the second quarter and year to date in fiscal year 2026, the key financial results were as follows: revenue was $327 million and $649 million, respectively; organic growth x CSL was 9% in the quarter and 11% year to date; adjusted EPS increased 14% in the quarter and 11% year to date to $1.27 and $2.36, respectively.

A：The company's results reflected disciplined execution with strong core product growth, record margin expansion, solid earnings that converted to cash, portfolio advancement, and transformation to sustain momentum beyond the long-range plan. Business performance was highlighted by gains in plasma share through best-in-class collection solutions, leadership in viscoelastic testing, and executing targeted vascular closure initiatives.

A：To improve the performance of the interventional technologies segment, the company is taking decisive actions to strengthen execution and accelerate growth, as well as making solid progress with the Savvy wire in the U.S. to deliver consistent double-digit growth and broaden its relevance in structural heart.

A：The updated guidance for hospital revenue growth is Ed to Ed, both reported and organic, reflecting sustained double-digit growth in blood management technologies and little to no contributions from interventional technologies.

A：The revised full year revenue guidance has been raised to a reported decline of 1 to 4% and organic growth x CSL of 3 to 6%, which is an improvement from the previous outlook of a reported decline of 3 to 6% and organic growth x CSL of 1 to 4%.

A：Adjusted operating expenses year to date were $229 million, slightly up from $227 million last year, primarily due to the timing of certain R&D investments.

A：The company expects the adjusted tax rate to remain consistent for the remainder of the fiscal year at 24.8%.

A：The company raised its full year adjusted EPS guidance to $4.80 per share.

A：The company enhanced working capital management, resulting in $111 million in operating cash flow in the second quarter, up 128% year over year, and year-to-date operating cash flow of $129 million, a sixfold increase. Free cash flow was $89 million in the quarter and $91 million year to date. The company raised its full year free cash flow guidance to $1 billion and reaffirmed the expectation for the free cash flow to adjusted net income ratio to be in excess of 1.0 for the full fiscal year.

A：The company ended the quarter with $296 million in cash, and $200 million in share repurchases and additional strategic investments, partially offset by higher net income, resulted in a stronger cash flow. The capital structure remains unchanged with total debt of $1.2 billion, no borrowings under the revolving credit facility, and a net leverage ratio as defined by the credit agreement. This positions the company well to meet near-term debt obligations, fund operations, and pursue value-creating opportunities.

A：The company continues to execute its plan with strength and discipline, delivering profitable growth, expanding margins across all segments, and generating strong cash flow despite challenges from portfolio adjustments. Growth and profitability are anchored in core products, with company-wide initiatives driving productivity and operational excellence. The company is optimistic about the continued success of plasma, which contributes to margin expansion. Interventions in the hospital business and investments in growth products are prioritized, alongside meeting debt obligations and returning excess cash to shareholders via buybacks.

A：The hospital operating income expanded due to a mix of factors including volume growth, mix management, and increasing operating leverage. The hospital blood management technologies, specifically the vascular closure portfolio, was highlighted as an area of strength and confidence.

A：In the IVT commercial efforts, the company has seen progress through new commercial leadership, a bifurcated field force with a focus on vascular closure, and the implementation of various tools and strategies to drive sales force excellence. These include closing vacancies, upgrading training, using new monitoring tools, aligning quotas, and having state-of-the-art incentive compensation.

A：The company believes that competitive responses will not meaningfully diminish their gross margins and that they can maintain excellent margins while executing to hold and expand market share.

A：The company views the performance of blood management technologies as sustainable, having grown double-digit in the quarter and year-to-date. The franchise is believed to have reached a new inflection point driven by capital equipment, disposable utilization, and the adoption of heparinase neutralization cartridges. The company expects double-digit growth to be sustainable for an extended period, with a 70% plus market share and plans to build upon that.

A：The growth in blood centers was driven by the divestiture of the whole blood franchise and supporting products at the end of the previous calendar year, which allowed the company to focus on plasma apheresis, often with their Nexus device. This change resulted in a 15% growth in revenue, EBITDA, and return on investment.

A：The share repurchase added a few cents to the EPS in the quarter, which is included in the six cents below the line item mentioned earlier.

A：Yes, the company is very committed to consummating the acquisition of Vivas, and it is described as a near-final successful submission to the FDA.

A：The new closure product is a key part of the company's i-vtec focus area and is highly synergistic with the Savvy wire business, creating potential cross-sell opportunities.

A：The company is experiencing substantial growth in US plasma collections, with a transition from low single-digit flat growth to high single-digit growth. This improvement is attributed to pricing benefits from technology advancements and ongoing market share gain.

A：The recent performance is attributed to customers taking share in the end market, driven by technology advancements like Nexus. The company is confident in sustaining market growth due to continued share gains and the annualization of prior technology rollouts.

A：The company views the vasca de market as competitive but remains confident in its ability to regain market share based on trial data and head-to-head account performance. They expect positive results from their realigned sales force initiatives.

A：The launch of PFA in Japan was an important growth contributor historically, but the dynamics changed with a slower adoption curve due to prioritizing safety. Despite this, the company anticipates Japan to become an important contributor in the future, especially with the acceptance of US data and favorable reimbursement for MVP and MVP XL.

A：The Heparinase Neutralization Cartridge is performing differently in Japan due to market-specific conditions, but the product is showing broad application and significantly increased dollar revenue per device when compared to the US launch.

A：The strategies for launching the new product include both direct approaches through the company's teams and through distributors in parts of Japan, and they anticipate a lag time as distributors become familiar with the new product. These strategies are expected to be an important source of sustainable double-digit growth for the business in the franchise.

A：The new product is differentiated economically by metrics such as time to ambulation and discharge, which are at or above anything else in the marketplace. The improvements in work productivity, particularly with the adoption of MPM VP XL, have been significant. Pricing flexibility has been observed to drive desired outcomes, with modest adjustments noted as sufficient to achieve margin growth. This indicates an evolved pricing strategy that aims to retain and grow market share.

A：Potential future innovations in the Teg line include growth in viscoelastic testing, targeting the adoption of this testing in the US market, and extending its use to other sectors of the market. Additional applications for the product are also being pursued, with more details expected to be discussed at the next investor day.

A：In the past 12-14 weeks, the company has seen green shoots in new account openings, utilization rates, and competitive win backs. They are confident that the actions taken have stabilized performance and expect meaningful growth going forward. However, they are being prudent in their guidance, especially with the closure market, and expect to demonstrate results in the future.

A：The company aims to keep the share count sub 50 million by continuing to be active in share repurchase and focusing on capital allocation that includes buying back shares and paying down debt. They also intend to make targeted organic investments to advance new technology without compromising their strong balance sheet and optionality on capital deployment.