Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Raymond James 46th Annual Institutional Investor Conference (March 2025)
28 slides from Quidelortho's conference presentation, Mar 5, 2025
Slide 1: Raymond James 46th Annual Institutional Investor Conference
March 5, 2025 Raymond James 46th Annual Institutional Investor Conference Brian Blaser President & Chief Executive Officer Joseph Busky Chief Financial Officer
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
Slide 3: About Us
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 3 About Us 80+ Years ~$50B Total Addressable Market Advancing ~$20B the Power IVD Markets Served of Diagnostics for a Healthier 330+ Products Future for All $2.8B FY 2024 Reported Nasdaq: QDEL Revenue Four Business Units: Labs
Slide 4: Global In Vitro Diagnostics Company
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 4 Global In Vitro Diagnostics Company Three global commercial regions spanning 130+ countries North Pencoed, Wales America Rochester, NY 58%1 Raritan, NJ San Diego, CA Pompano Beach, FL Hunan, China JPAC/China EMEA/Latin 22%1 A
Slide 5: Leadership Team
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 5 Leadership Team Brian Blaser President and Chief Executive Officer Joseph Busky Chief Financial Officer Lee Bowman Chief Human Resources Officer Michelle Hodges Chief Legal Officer Phil McLellan Chief Operations Officer Jonat
Slide 6: Diagnostic Portfolio Across the Continuum of Care
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 6 Diagnostic Portfolio Across the Continuum of Care Products for every care setting and every stage of the patient journey Reference Labs Hospitals Ambulatory Clinics & Specialty Settings Retail Home Free Sexual Reference IDN C
Slide 7: Leading Global Portfolio in Large, Growing Markets
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 7 Leading Global Portfolio in Large, Growing Markets Serving over 1 million patients every day Labs Point of Care $30B Market Size $9B Market Size BUSINESS UNITS Transfusion Molecular Medicine Diagnostics $3B Market Size $9B Ma
Slide 8: Labs
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 8 Labs Strong Global Customer Base with Long-term Contracts Standardized & Scalable Waterless Systems Lowest Total Cost of Ownership $1.4B ~15,000 MSD FY’24 Worldwide Cumulative Projected Annual Growth Rate1 Revenue Placements
Slide 9: Transfusion Medicine
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 9 Transfusion Medicine Global Leader in Immunohematology Full Suite of Automated Solutions Connected Informatics Ecosystem $523M ~7,400 LSD Worldwide Projected Annual FY’24 Cumulative Placements Growth Rate1 Revenue (excluding
Slide 10: Point of Care
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 10 Point of Care Fast, Lab-Quality Results at the Point-of-Care Ease of Use, No Special Training Required ~97,000 ~17,000 MSD Sofia® Worldwide Cumulative Triage® Worldwide Cumulative Projected Annual Growth Rate1 $694M Placemen
Slide 11: Molecular Diagnostics
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 11 Molecular Diagnostics Developing World-Class Syndromic Molecular Solutions Highly Accurate Results in Minutes Small Footprint, Optimized Workflow $24M FY’24 Revenue
Slide 12: Value Creation Thesis
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 12 Value Creation Thesis Durable Growth and Margin Expansion Strong Business Provides Sustainable Recurring Revenue ▪ Growing installed base in large global markets ▪ Long-term customer relationships and contracts ▪ Differentia
Slide 13: Disciplined Strategy
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 13 Disciplined Strategy Driving improved performance and value creation Delivering an Driving Prioritizing Exceptional Profitable, Effective Customer Sustainable Execution Experience Growth
Slide 14: Disciplined Strategy: Key priorities
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 14 Disciplined Strategy Key priorities for continuous evolution Delivering an Driving Prioritizing Exceptional Profitable, Effective Customer Sustainable Execution Experience Growth ▪ Operate at highest levels ▪ Improve cost st
Slide 15: Reflecting on 2024 Progress
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 15 Reflecting on 2024 Progress Highlights ▪ Achieved financial performance in line with our full-year 2024 financial guidance ▪ Executed $100M in annualized cost-savings initiatives; $50M realized in 2H 2024 ▪ Strengthened seni
Slide 16: Financial Overview
Financial Overview Joseph Busky, Chief Financial Officer
Slide 17: QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved.
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 17
Slide 18: FY 2024 Highlights
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 18 FY 2024 Highlights1 Total Revenue $2.78B Business Unit Geography Category (7%) y/y1 Adjusted North America EBITDA Labs 51% 58% EMEA 12% $543M 2 China Recurring Point 84% 12% of Care Other 25% 20% Margin2 18% Adjusted Diluted
Slide 19: Q4 and FY 2024 Cash Flow and Balance Sheet
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 19 Q4 and FY 2024 Cash Flow and Balance Sheet Balance Sheet Q4 and FY 2024 Cash Flow1 (as of December 29, 2024) $68M $109M $98M ~4.4x Q4 Adjusted FY Adjusted Net Debt to Cash Free Cash Flow2 Free Cash Flow3 Adjusted EBITDA4 $42
Slide 20: Full-Year 2025 Financial Guidance
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 20 Full-Year 2025 Financial Guidance1 Financial Guidance FY 2025 (as of February 12, 2025) $2.60B–$2.81B2 $575M–$615M 22% $2.07-$2.57 Total Revenues (reported) Adjusted EBITDA Adjusted EBITDA Margin Adjusted Diluted EPS Assumpt
Slide 21: Focused on Margin Expansion
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 21 Focused on Margin Expansion Targeting 250-450 bps of Adjusted EBITDA Margin Growth 2024 FY24 Actuals 2025 FY25 Estimates FY26 Goals at Mid-Point of 2026 $2.78B $2.7B Revenue Guidance 23-24% 19.5% 22% Range Cost-Savings: Cost
Slide 22: Capital Allocation Priorities
QuidelOrtho – Proprietary & Confidential. | © 2025. All Rights Reserved. 22 Capital Allocation Priorities ▪ Menu expansion into fastest growing, most profitable market segments Build Sustainable, ▪ Complete integration, i.e., ERP, IT infrastructure Profitable Growth ▪ Prudently manage balance sheet,
Slide 23: Value Creation Thesis
QuidelOrtho – Proprietary & Confidential. | © 2024. All Rights Reserved. 23 Value Creation Thesis Durable Growth and Margin Expansion Strong Business Provides Sustainable Recurring Revenue ▪ Growing installed base in large global markets ▪ Long-term customer relationships and contracts ▪ Differentia
Slide 24: Appendix
QuidelOrtho – Proprietary & Confidential. | © 2024. All Rights Reserved. 24 Appendix
Slide 25: Revenue by Geography
QuidelOrtho QuidelOrtho – Proprietary – Proprietary & Confidential.| |© & Confidential. © 2025. 2024. All All Rights Rights Reserved. Reserved. 25 Revenue by Geography Three Months Ended 2023 2024 Fourth Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Percent Currency Constant (a) 19
Slide 26: Revenue by Business Unit
QuidelOrtho QuidelOrtho – Proprietary – Proprietary & Confidential.| |© & Confidential. © 2025. 2024. All All Rights Rights Reserved. Reserved. 26 Revenue by Business Unit Three Months Ended 2023 2024 Fourth Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Percent Currency Constant (a)
Slide 27: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho QuidelOrtho – Proprietary – Proprietary & Confidential.| |© & Confidential. © 2025. 2024. All All Rights Rights Reserved. Reserved. 27 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter Fiscal Year In millions Q4 2024 Q4 2023 FY 2024 FY 2023 Net (loss) income* $ (178.4) $ 7.0 $ (2
Slide 28: quidelortho.com
quidelortho.com
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