Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — 44th Annual William Blair Growth Stock Conference (June 2024)
24 slides from Quidelortho's conference presentation, Jun 5, 2024
Slide 1: QuidelOrtho William Blair Conference
First Quarter 2024 QuidelOrtho William Blair Conference Joseph Busky, Chief Financial Officer June 2024
Slide 2: Forward-Looking Statements
© 2024. All Rights Reserved. 2 Forward-Looking Statements This presentation of QuidelOrtho Corporation (“QuidelOrtho” or the “Company”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herei
Slide 3: About QuidelOrtho
About QuidelOrtho © 2024. All Rights Reserved. 3 A leading provider of innovative in-vitro diagnostic technologies designed for point-of-care settings, clinical labs and transfusion medicine 330+ 120 Years Countries Collective experience 130+ Products across and innovation instruments FY 2023 Revenu
Slide 4: Our Executive Team
Our Executive Team © 2024. 2022. All Rights Reserved. 4 Significant Experience in Diagnostics and Driving Transformation Brian Blaser Chief Executive Officer Joseph Busky Chief Financial Officer Robert Bujarski Chief Operating Officer Michael Iskra Chief Commercial Officer Michelle Hodges General Co
Slide 5: Near-Term Priorities
Near-Term Priorities © 2022. All Rights Reserved. 5 Restore Investor Confidence: New CEO focused on improving performance and leveraging broad product portfolio, across the patient care spectrum Improve Operational Performance: Realize enterprise-based cost savings initiatives ($100M annualized), re
Slide 6: Our Role in Healthcare
Our Role in Healthcare QuidelOrtho – Proprietary & Confidential. | © 2024. All Rights Reserved. 6 Advantageously Positioned for Growth Across the $48B Continuum of Care Our products are used in every care setting and every stage of patient care journey Ambulatory Clinics, Physician Offices Reference
Slide 7: Business Units: Labs, Transfusion Medicine, Point of Care & Molecular Diagnostics
7 Business Units: Labs, Transfusion Medicine, Point of Care & Molecular Diagnostics
Slide 8: Labs, Point of Care, Molecular Diagnostics, Transfusion Medicine
© 2024. All Rights Reserved. 8 Cornerstone for our global Catalyst for growth as healthcare expansion and growth decentralization accelerates Revenue: $357M1 Revenue: $187M1 ~50% of Labs Point of Care ~26% of Q1 2024 Revenue Q1 2024 Revenue Revenue: $7M1 Revenue: $160M1 ~1% of Molecular Transfusion
Slide 9: Labs
Labs © © 2024. 2022. All All Rights Rights Reserved. Reserved. 9 Full Year 2023 Revenue Total Installed Base Integrated Installed Base (Reported) (as of Dec 31, 2023) (as of Dec 31, 2023) Immunoassay Growth Opportunity $1.4B ~14.6K ~4.6K ▪ ~$19B TAM Full Year 2023 Product Lines Full Year 2023 Geogra
Slide 10: Transfusion Medicine
Transfusion © © 2024. 2022. All All Rights Rights Reserved. Reserved. 10 Full Year 2023 Revenue Automated Immunohematology Medicine (Reported) Installed Base (as of Dec 31, 2023) ▪ ~$2B TAM $0.6B ~6.9K ▪ 2-4% market growth Full Year 2023 Product Lines Full Year 2023 Geographies Full Year 2023 Revenu
Slide 11: Point of Care
Point of Care © © 2024. 2022. All All Rights Rights Reserved. Reserved. 11 Full Year 2023 Revenue Sofia® Cumulative Net Placements Triage® Cumulative Net (Reported) (as of Dec 31, 2023) Placements (as of Dec 31, 2023) ▪ ~$8B TAM ▪ 6-8% market growth ▪ Approximately 30% of total $0.9B ~90K ~16.7K Ful
Slide 12: Molecular Diagnostics
Molecular © © 2024. 2022. All All Rights Rights Reserved. Reserved. 12 Diagnostics Full Year 2023 Revenue Total Installed Base Savanna® (Reported) (as of Dec 31, 2023) ▪ ~$9B TAM $32M ~2.1K 510(k) December 2023 ▪ 8-10% market growth Full Year 2023 Product Lines Full Year 2023 Geographies Full Year 2
Slide 13: Financials
13 Financials
Slide 14: Q1 2024 Financials
Q1 2024 Financials © 2024. All Rights Reserved. 14 Global year-over-year constant currency revenue growth of 6%, excluding COVID-19 revenue Total Revenue Adjusted EBITDA Adjusted Diluted EPS $711M $132M $0.44 2 3 (16 %) y/y1 19% Margin2 (76%) y/y3 Business Unit Geography Category 1. Revenue growth r
Slide 15: Cash Flow and Balance Sheet
Cash Flow and Balance Sheet © 2024. All Rights Reserved. 15 Q1 2024 Cash Flow1 Balance Sheet as of March 31, 2024 $(1)M $(13)M $79M ~3.8x Operating Cash Flow1 Adjusted Free Cash Flow2 Cash & Marketable Securities Net Debt to Adjusted EBITDA3 $64M $2.4B Capital Expenditures1 Total Debt 1. For the thr
Slide 16: Capital Priorities
Capital Priorities © 2024. All Rights Reserved. 16 Rebuilding foundation to drive long-term growth and shareholder value Recalibrating for Long-term Growth ▪ Menu expansion into attractive categories ▪ Maximize integration efforts through business enablement tools – ERP consolidation, IT infrastruct
Slide 17: Near-Term Priorities
Near-Term Priorities © 2022. All Rights Reserved. 17 Restore Investor Confidence: New CEO focused on improving performance and leveraging broad product portfolio, across the patient care spectrum Improve Operational Performance: Realize enterprise-based cost savings initiatives ($100M annualized), r
Slide 18: Thank you
Thank you
Slide 19: Non-GAAP Adjustments
© 2024. All Rights Reserved. 19 Non-GAAP Adjustments
Slide 20: Non-GAAP Reconciliation
© 2024. All Rights Reserved. 20 Non-GAAP Reconciliation (a) Refer to the Non-GAAP adjustments schedule on slide 10 for further details.
Slide 21: QTD Revenue by Region, Business Unit, and Category
© 2024. All Rights Reserved. 21 QTD Revenue by Region, Business Unit, and Category (a) The term “constant currency” means we have translated local currency revenues for all reporting periods to U.S. dollars using internally derived currency exchange rates held constant for each period; this addition
Slide 22: Revenue Respiratory vs Non-Respiratory and ex-COVID-19 Revenue
© 2024. All Rights Reserved. 22 Revenue Respiratory vs Non-Respiratory and ex-COVID-19 Revenue (a) The term “constant currency” means we have translated local currency revenues for all reporting periods to U.S. dollars using internally derived currency exchange rates held constant for each period; t
Slide 23: Revenue Excluding Non-GAAP Items
© 2024. All Rights Reserved. 23 Revenue Excluding Non-GAAP Items (a) The term “constant currency” means we have translated local currency revenues for all reporting periods to U.S. dollars using internally derived currency exchange rates held constant for each period; this additional non-GAAP financ
Slide 24: Non-GAAP Reconciliations – Adjusted EBITDA
© 2024. All Rights Reserved. 24 Non-GAAP Reconciliations – Adjusted EBITDA Unless otherwise noted, dollars are at actual foreign exchange rates.
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