Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Q3 2023 Earnings Presentation
20 slides from Quidelortho's earnings presentation, Nov 1, 2023
Slide 1: QuidelOrtho Third Quarter 2023 Financial Results
November 1, 2023 QuidelOrtho 2023 Third Quarter 2023 Financial Results
Slide 2: Forward-Looking Statements
© 2023. All Rights Reserved. 2 Forward-Looking Statements 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 inclu
Slide 3: Supplemental Combined Financial Measures and Non-GAAP Financial Measures
© 2023. All Rights Reserved. 3 Supplemental Combined Financial Measures and Non-GAAP Financial Measures Supplemental Combined Financial Measures: This presentation contains unaudited supplemental combined financial information (“Supplemental Combined Information”) that gives effect to the Combinatio
Slide 4: Q3 2023 Highlights
© 2023. All Rights Reserved. 4 Q3 2023 Highlights1 Total Revenue Adjusted Adjusted EPS EBITDA 2 • Delivered strong performance in $744M $169M 22 $0.90 respiratory and core businesses, (5%) y/y1 (51)% y/y1 including the Labs business which 23% Margin1 grew 3%, excluding respiratory • Non-respiratory
Slide 5: A Clear Path to Meaningful Growth Over the Next Few Years
© 2023. All Rights Reserved. 5 A Clear Path to Meaningful Growth Over the Next Few Years Three near-term initiatives that we are acutely focused on are Vitros, Sofia, and Savanna Vitros® System Sofia® Platform Savanna® MDx Installed base is fueled by the placement Sophisticated yet easy-to-use Point
Slide 6: Financial Results
Financial Results @® QuidelOrtho”
Slide 7: Q3 2023 Revenue Results
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 7 Q3 2023 Revenue Results1 Revenue Revenue Revenue by Business Unit by Geography by Category POC (14)% [(1)% non-respiratory] North America (10)% [(1)% non-respiratory] Recurring +6% [+1% non-respiratory] Labs2 2% [+3% non-resp
Slide 8: Q3 2023 Highlights: Operating Results Summary
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 8 Operating Results Summary1 Q3 2023 Highlights Fiscal Quarter Ended1 Q3 2023 Q3 2022 • Adjusted gross profit margin of 50.5% was up 490 bps sequentially. The y/y decline was due Total Revenue $744.0 $783.8 to both strong instr
Slide 9: Strong Balance Sheet and FY Cash Flow Outlook Provide Flexibility and Stability
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 9 Strong Balance Sheet and FY Cash Flow Outlook Provide Flexibility and Stability Q3 2023 Cash Flow1 Q3 2023 Balance Sheet1 $42M $205M Operating Cash Flow2 Cash & ~3.0x Marketable Securities $53M Net Debt to Adjusted Adjusted E
Slide 10: Maintaining FY 2023 Financial Guidance
QuidelOrtho – Proprietary & Confidential. |© 2023. All Rights Reserved. 10 Maintaining FY 2023 Financial Guidance1 FY 2023 2 Financial Outlook As of Q3’23 Reporting Non-respiratory Revenue $2.27B – $2.31B Constant currency growth +5% – 6.5% Respiratory Revenue $610M – $775M Total Revenue $2.88B – $3
Slide 11: Appendix
@® QuidelOrtho
Slide 12: Q3 2023 QTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 12 Q3 2023 QTD Non-GAAP Reconciliation Selling, (Benefit from) marketing and Research and Operating Operating Interest Other provision for Net (loss) Gross profit administrative development income margin expense, net expense, n
Slide 13: Q3 2022 QTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 13 Q3 2022 QTD Non-GAAP Reconciliation Selling, marketing and Research and Operating Operating Interest Other Provision for Gross profit Net income administrative development income margin expense, net income, net income taxes
Slide 14: Q3 2023 YTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 14 Q3 2023 YTD Non-GAAP Reconciliation Selling, (Benefit from) marketing and Research and Operating Operating Interest Other provision for Net (loss) Gross profit administrative development income margin expense, net expense, n
Slide 15: Q3 2022 YTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 15 Q3 2022 YTD Non-GAAP Reconciliation Selling, marketing and Research and Operating Operating Interest Other income, Provision for Net income Gross profit administrative development income margin expense, net net income taxes
Slide 16: QTD Revenue by Region, Business Unit, and Category
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 16 QTD Revenue by Region, Business Unit, and Category Three Months Ended Respiratory Constant Currency (a) Segment revenue October 1, 2023 October 2, 2022 Percent Change Currency Impact Constant Currency (a) Revenue Impact Non-
Slide 17: YTD Pro Forma Revenue by Region, Business Unit, and Category
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 17 YTD Pro Forma Revenue by Region, Business Unit, and Category Nine Months Ended Respiratory Constant Currency (a) Segment revenue October 1, 2023 October 2, 2022 Percent Change Currency Impact Constant Currency (a) Revenue Im
Slide 18: Pro Forma Revenue Respiratory vs Non-Respiratory
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 18 Pro Forma Revenue Respiratory vs Non-Respiratory Three Months Ended October 1, 2023 October 2, 2022 Percent Change Currency Impact Constant Currency (a) Respiratory Revenue $185.4 $236.1 (21.5)% —% (21.5)% Non-Respiratory Re
Slide 19: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 19 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter Year to date In millions Q3 2023 Q3 2022 Q3 2023 Q3 2022 Net (loss) income $ (12.7) $ 19.2 $ (17.1) $ 518.4 Pre-combination Ortho net loss (a) — — — (45.9) Supplement
Slide 20: quidelortho.com
quidelortho.com