Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — J.P. Morgan 42nd Annual Healthcare Conference (January 2024)
33 slides from Quidelortho's conference presentation, Jan 8, 2024
Slide 1: J.P. Morgan 42nd Annual Healthcare Conference
January 8, 2024 J.P. Morgan 42nd Annual Healthcare Conference Douglas Bryant, President and Chief Executive Officer
Slide 2: Forward-Looking Statements
J.P. Morgan Healthcare Conference | © 2024. 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
Slide 3: Supplemental Combined Financial Measures and Non-GAAP Financial Measures
J.P. Morgan Healthcare Conference | © 2024. 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”)
Slide 4: Agenda
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 4 Agenda QuidelOrtho – Global IVD Leader & Innovator Focused Path to Meaningful Near-term Revenue & Margin Growth Business Units: Labs, Transfusion Medicine, Point of Care & Molecular Innovation Drives Growth Financials Key Takeaways
Slide 5: A Global IVD Leader & Innovator
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 5 A Global IVD Leader & Innovator ▪ Strong, diverse product portfolio – Labs, Transfusion Medicine, Point of Care and Molecular ▪ 550+ assays to address customer needs across Dx care continuum ▪ ~7,000 global employees
Slide 6: Strong Recurring Revenue Model
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 6 Strong Recurring Revenue Model Continuous product and menu expansion enables above-market growth and competitive differentiation FY 2023 Total Revenue Guidance FY 2023 Total Revenue Guidance, Excluding Respiratory As of November 1, 2
Slide 7: QuidelOrtho Solutions Address Growing, Profitable IVD Market Segments
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 7 QuidelOrtho Solutions Address Growing, Profitable IVD Market Segments QuidelOrtho Markets Total Addressable IVD Market1 QuidelOrtho Addressable Market2 QuidelOrtho Addressable Market2 (Disease State) (Platform) ($ billions) ($ billio
Slide 8: Diagnostic Solutions Across the $48B Continuum of Care
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 8 Diagnostic Solutions Across the $48B Continuum of Care Advantageously positioned for growth as healthcare becomes more decentralized and “near patient” Reference Labs Hospitals Ambulatory Clinics & Specialty Settings Retail Home Free
Slide 9: Global Reach Drives Substantial Cross-Selling Opportunities
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 9 Global Reach Drives Substantial Cross-Selling Opportunities ~3,000 commercial sales and service colleagues reaching customers in 130+ countries Markets serviced by QuidelOrtho Headquarters Manufacturing and Distribution Regional Offi
Slide 10: Significant Integration Progress with Increasing Synergy Targets
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 10 Significant Integration Progress with Increasing Synergy Targets Creating a highly efficient, agile organization delivering continuous growth and strong returns $90M $130M $130M+ Cumulative Cumulative Cumulative Harmonization Integr
Slide 11: Focused Path to Meaningful Near-Term Revenue and Margin Growth
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 11 Focused Path to Meaningful Near-Term Revenue and Margin Growth Driving incremental growth, increasing efficiency, and improving profitability Execute U.S. Savanna Commercial Launch 1 Revenue Growth & Margin Expansion Grow EBITDA & C
Slide 12: Business Units: Labs, Transfusion Medicine, Point of Care & Molecular
12 Business Units: Labs, Transfusion Medicine, Point of Care & Molecular
Slide 13: Focused on the Fastest-Growing, Most Profitable Diagnostics Market Segments
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 13 Focused on the Fastest-Growing, Most Profitable Diagnostics Market Segments1 Significant opportunities to expand our customer base and increase our competitiveness around the world Labs Transfusion Molecular Point of Care Medicine D
Slide 14: Labs Business Unit
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 14 Labs Business Unit Our largest revenue business unit and a catalyst for our global expansion and growth Q3 YTD 2023 Revenue, Ex-COVID-191 Total Installed Base Integrated Installed Base (Reported) (as of Sept 30, 2023) (as of Sept 30
Slide 15: Transfusion Medicine Business Unit
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 15 Transfusion Medicine Business Unit Leader in immunohematology and well-positioned for growth with customers and in new market segments Q3 YTD 2023 Revenue, Ex-COVID- Automated Immunohematology 191 (Reported) Installed Base (as of Se
Slide 16: Point of Care Business Unit
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 16 Point of Care Business Unit A cornerstone for driving future growth as healthcare becomes more decentralized and “near patient” Q3 YTD 2023 Revenue, Ex-COVID- Sofia® Cumulative Net Triage® Cumulative Net 191 (Reported) Placements Pl
Slide 17: Molecular Diagnostics Business Unit
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 17 Molecular Diagnostics Business Unit High-growth opportunity with unique ability to address the full continuum of care Q3 YTD 2023 Revenue, Ex-COVID-191 Total Installed Base Savanna 510(K) Clearance (Reported) (as of Sept 30, 2023) D
Slide 18: Innovation Drives Growth
Innovation Drives Growth @® QuidelOrtho: | JPMorgan | —
Slide 19: Savanna Provides an Immediate Revenue Growth Opportunity in the Molecular Market
J.P. Morgan Healthcare Conference | © 2024. 2023. All Rights Reserved. 19 Savanna Provides an Immediate Revenue Growth Opportunity in the Molecular Market Savanna ▪ Fewer than 25 minutes from sample to result without sacrificing quality and performance ▪ Test select flexible panel sizes and menus fo
Slide 20: Savanna is the Right Product at the Right Time
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 20 Savanna is the Right Product at the Right Time Evolution of near-patient PCR testing Why we’re bullish A brief history of PCR testing on Savanna Competitor Case Study in the U.S. ▪ Strong customer overlap ▪ PCR performed in between
Slide 21: Increasing R&D Efficiency
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 21 Increasing R&D Efficiency Resulting in highly competitive instrumentation and menus across the continuum of care Near-Term Long-Term ▪ New and improved assays ▪ Expand suite of workflow and ▪ Next-gen modular Centralized and reagent
Slide 22: Financials
22 Financials
Slide 23: Q3 2023 YTD Financial Highlights
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 23 Q3 2023 YTD Financial Highlights Third Quarter 2023 – YTD Results Summary Total Revenue Labs Revenue Adjusted EBITDA (Reported) Growth $2.3B 7% $528M2 (29%) y/y1 y/y1 23.4% Margin1 Adjusted EPS Adjusted Free Cash & Marketable Cash F
Slide 24: Balancing Near- and Long-Term Growth Opportunities
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 24 Balancing Near- and Long-Term Growth Opportunities Tailwinds Long Range Plan Headwinds As Presented December 2022 6-9%1 Above Market Growth ▪ Savanna U.S. commercial launch ▪ Macroenvironment - and new product introductions inflatio
Slide 25: Capital Allocation Strategy – Significant Cash Generation Supports Growth and Shareholder Value
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 25 Capital Allocation Strategy – Significant Cash Generation Supports Growth and Shareholder Value Grow and Return Value to Shareholders ▪ Put cash generation to work by balancing paying down debt and repurchasing shares ▪ Leverage cas
Slide 26: Focused Path to Meaningful Near-Term Revenue and Margin Growth
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 26 Focused Path to Meaningful Near-Term Revenue and Margin Growth Driving incremental growth, increasing efficiency, and improving profitability Execute U.S. Savanna® Commercial Launch 1 Revenue Growth & Margin Expansion Grow EBITDA &
Slide 27: Thank you
Thank you
Slide 28: quidelortho.com
quidelortho.com
Slide 29: Appendix
Appendix ® QuidelOrtho: | JPMorgan
Slide 30: Q3 2023 YTD Non-GAAP Reconciliation
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 30 Q3 2023 YTD Non-GAAP Reconciliation Selling, Research and Operating Operating Interest Other (Benefit from) Net (loss) Gross profit marketing and development income margin expense, net expense, net provision for income administrativ
Slide 31: Q3 2022 YTD Non-GAAP Reconciliation
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 31 Q3 2022 YTD Non-GAAP Reconciliation Selling, Research and Operating Operating Interest Other income, Provision for Net income Gross profit marketing and development income margin expense, net net income taxes (loss) administrative G
Slide 32: Q3 2023 YTD Non-GAAP Reconciliations – Adjusted EBITDA
J.P. – ProprietaryConference Morgan Healthcare QuidelOrtho & Confidential.| |© 2024. All Rights Reserved. 32 Q3 2023 YTD Non-GAAP Reconciliations – Adjusted EBITDA Year to date In millions Q3 2023 Q3 2022 Net (loss) income $ (17.1) $ 518.4 Pre-combination Ortho net loss (a) — (45.9) Supplemental com
Slide 33: Q3 2023 YTD Pro Forma Revenue by Region, Business Unit, and Category
J.P. Morgan Healthcare Conference | © 2024. All Rights Reserved. 33 Q3 2023 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
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