Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Q1 2025 Earnings Presentation
17 slides from Quidelortho's earnings presentation, May 7, 2025
Slide 1: QuidelOrtho First Quarter 2025 Financial Results
May 7, 2025 QuidelOrtho First Quarter 2025 Financial Results
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 2 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements: This presentation of QuidelOrtho Corporation (“QuidelOrtho” or the “Company”) contains “forward-looking statements” within the meaning of t
Slide 3: Q1 2025 Highlights
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 3 Q1 2025 Highlights1 Total Revenue $693M Business Unit Geography Category (1%) y/y1 Adjusted Labs North America EBITDA 57% 51% EMEA 12% $160M 4 2 China Recurring Point 12% 82% of Care Other 26% 19% 23% Margin2 Adjusted Diluted
Slide 4: Q1 2025 Operating Results Summary
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 4 Q1 2025 Operating Results Summary1 Fiscal Quarter Q1 2025 Q1 2024 Total Revenue $692.8 $711.0 Constant Currency Growth2 (1.1%) Recurring Revenue3 $662.2 $670.2 Adjusted Gross Profit $346.9 $337.9 Adjusted Gross Profit Margin 5
Slide 5: Q1 2025 Cash Flow and Balance Sheet
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 5 Q1 2025 Cash Flow and Balance Sheet Balance Sheet Q1 2025 Cash Flow1 (as of March 30, 2025) $66M $53M $127M ~4.2x Net Debt to Operating Cash Flow Capital Expenditures2 Cash Adjusted EBITDA4 $47M $2.5B ~3.4x Adjusted Consolidat
Slide 6: FY 2025 Financial Guidance
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 6 FY 2025 Financial Guidance 1 Assumptions Revenue • Labs business growth expected in the mid-single digits • Transfusion Medicine business growth, excluding Donor Screening, expected in the low- Financial Outlook FY 2025 single
Slide 7: Appendix
Appendix @® QuidelOrtho
Slide 8: Non-GAAP Adjustments
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 8 Non-GAAP Adjustments Fiscal Quarter In millions Q1 2025 Q1 2024 Incremental depreciation on PP&E fair value adjustment $ 3.3 $ 5.5 Amortization of deferred cloud computing implementation costs 0.3 0.2 Other adjustments — 0.1 C
Slide 9: Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 9 Non-GAAP Reconciliation Fiscal Quarter Q1 2025 Fiscal Quarter Q1 2024 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 343.3 $ 3.6 $ 346.9 $ 332.1 $ 5.8 $ 337.9 Selling, marketing and admi
Slide 10: Revenue by Geography
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 10 Revenue by Geography Three Months Ended 2024 2025 First Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Percent Currency Constant (a) 19 revenue ex COVID-19 Change Impact Currency (a) impact Revenue North America $433.9
Slide 11: Revenue by Business Unit
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 11 Revenue by Business Unit Three Months Ended 2024 2025 First Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Percent Currency Constant (a) 19 revenue ex COVID-19 Change Impact Currency (a) impact Revenue Labs $356.9 $354
Slide 12: Revenue by Respiratory and Non-Respiratory
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 12 Revenue by Respiratory and Non-Respiratory Three Months Ended 2024 2025 First Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Percent Currency Constant (a) 19 revenue ex COVID-19 Change Impact Currency (a) impact Revenu
Slide 13: Non-GAAP Reconciliations
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 13 Non-GAAP Reconciliations Three Months Ended March 30, 2025 March 31, 2024 Percent Change Currency Impact Constant Currency (a) Total revenues $692.8 $711.0 (2.6)% (1.5)% (1.1)% COVID-19 revenue (23.4) (50.2) Donor Screening r
Slide 14: Non-GAAP Reconciliations Cont.
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 14 Non-GAAP Reconciliations Cont. Three Months Ended March 30, 2025 March 31, 2024 Percent Change Currency Impact Constant Currency (a) Labs 59.6 59.1 0.8% (1.6)% 2.4% Transfusion Medicine 10.3 9.3 10.8% (0.9)% 11.7% Point of Ca
Slide 15: Non-GAAP Reconciliations Cont.
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 15 Non-GAAP Reconciliations Cont. Three Months Ended March 30, 2025 March 31, 2024 Dollar change Recurring Revenue $662.2 $670.2 $(8.0) Instrument Revenue $30.6 $40.8 $(10.2) Total Revenue $692.8 $711.0 $(18.2) Three Months Ende
Slide 16: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 16 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter In millions Q1 2025 Q1 2024 Net loss $ (12.7) $ (1,706.0) Depreciation and amortization 107.1 114.9 Interest expense, net 40.0 39.0 Provision for (benefit from) income
Slide 17: quidelortho.com
quidelortho.com