The company said YTD 2024 revenue was $3,268 million, down 3% from $3,382 million in YTD 2023, and gross margin was 65.3%, compared with 61.2% in YTD 2023.

1. 01

   The company said YTD 2024 revenue was $3,268 million, down 3% from $3,382 million in YTD 2023, and gross margin was 65.3%, compared with 61.2% in YTD 2023.

2. 02

   The company said it distributed about 85.5% of GRAIL shares in the GRAIL spin-off on June 24, 2024 and retained about 14.5%. Operating loss for YTD 2024 was $1,008 million, and the company said the increase in operating expense included an increase in goodwill and intangible impairment of $1,068 million.

3. 03

   The company said that on September 2024, the European Commission withdrew its €432 million fine, so it reversed the related accrual and recognized a net gain of $481 million in Q3 2024. It added that the related guarantees are no longer outstanding.

4. 04

   The company said it repaid $761 million of principal and interest on the Delayed Draw Credit Facility on September 9, 2024 and issued $500 million of 2026 Term Notes, with net proceeds of $497 million. Under the share repurchase authorization of up to $1.5 billion approved in August 2024, $1.4 billion remained available as of September 29.

Key figures

Quarter ended September 29, 2024

Revenue

$1.1B

Operating income

$741M

Net income

$705M

EPS

$4.42

Gross profit

$745M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.