Business
QuidelOrtho Reports Preliminary Revenue Results for Fourth Quarter and Full Year 2022
QuidelOrtho to Report Fourth Quarter and Full Year 2022 Financial Results on February 15, 2023 SAN DIEGO--(BUSINESS WIRE)-- QuidelOrtho Corporation (Nasdaq:
About this update from Quidelortho Corporation
[{"type":"text","content":"\nQuidelOrtho to Report Fourth Quarter and Full Year 2022 Financial Results on February 15, 2023\n\n SAN DIEGO--(BUSINESS WIRE)--\nQuidelOrtho Corporation (Nasdaq: QDEL) (the “Company” or “QuidelOrtho”), a global provider of innovative in vitro diagnostics technologies designed for point-of-care settings, clinical labs and transfusion medicine, today announced preliminary unaudited revenue results for the fourth quarter and full year ended January 1, 2023.\n\nThe Company expects total revenues in the fourth quarter of 2022 to be in the range of $853 million to $868 million. COVID-19 product revenue is expected to be in the range of $124 million to $134 million and non-COVID-19 product revenue is expected to be in the range of $729 million to $734 million, representing 485% growth on a GAAP basis and 18% growth on a proforma constant currency basis at the midpoint.\n\nThe Company expects total revenues in the full year of 2022 to be in the range of $4,038 million to $4,053 million. COVID-19 product revenue is expected to be in the range of $1,441 million to $1,451 million and non-COVID-19 product revenue is expected to be in the range of $2,597 million to $2,602 million, representing 502% growth on a GAAP basis and 11% growth on a proforma constant currency basis at the midpoint.\n\nThe preliminary unaudited revenue results described herein are based on management’s initial analysis for the fourth quarter and full year ended January 1, 2023 and are subject to adjustments based on the Company’s completion of its year-end financial close process.\n\n“We delivered exceptional results in the fourth quarter to close out a transformative year, supported by growth across our Molecular Diagnostics, Transfusion Medicine, and Point of Care business units. Notably, our strong positioning in the point-of-care market with both the Sofia® platform and QuickVue® Flu Test enabled us to serve patients in a strong respiratory season, which drove substantial revenue growth,” said Douglas Bryant, President and Chief Executive Officer of QuidelOrtho. “Thanks to the hard work, dedication and collaboration exhibited by our people, we have continued to achieve critical integration milestones while maintaining commercial and operational excellence across the organization, as highlighted by our impressive financial performance in the fourth quarter. We lo...