Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Q1 2023 Earnings Presentation
19 slides from Quidelortho's earnings presentation, May 3, 2023
Slide 1: QuidelOrtho Financial Results 1Q 2023
May 3, 2023 QuidelOrtho Financial Results 1Q 2023
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: 1Q 2023 Highlights
© 2023. All Rights Reserved. 4 1Q 2023 Adjusted Total Revenue Adjusted EPS Highlights1 EBITDA 2 $846M $245M 22 $1.80 (44%) y/y1 (78)% y/y1 • Sustained momentum from 2022 29.0% Margin1 and exceeded expectations in 1Q 2023 • Non-respiratory revenue up 7% Business Unit Geography Category y/y on a suppl
Slide 5: Convergence of healthcare trends to create multiple opportunities for QDEL growth
© 2023. All Rights Reserved. 5 The convergence of several healthcare trends is expected to create multiple opportunities for QDEL growth over the next decade Mega Trends IVD Trends Customer Trends1 • Aging populations • Miniaturization & • Declining supply of Positioned to take advantage Consumeriza
Slide 6: A clear path to meaningful growth over the next few years
© 2023. All Rights Reserved. 6 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 7: Financial Results
Financial Results @® QuidelOrtho”
Slide 8: 1Q 2023 Supplemental Combined Revenue Results
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 8 1Q 2023 Supplemental Combined Revenue Results1 Revenue Revenue Revenue by Business Unit by Geography by Category POC (67)% [+7% non-respiratory] North America (53)% [+5% non-respiratory] Recurring (24)% [+6% non-respiratory]
Slide 9: 1Q 2023 Highlights: Operating Results Summary
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 9 Operating Results Summary1 Solid Results Demonstrate Resiliency of Our Business Model Fiscal Quarter Ended1 1Q 2023 1Q23 1Q222 Highlights Total Revenue $846.1 $1,502.4 Constant Currency3 Growth (43.6%) • Adjusted Gross Profit
Slide 10: Strong Cash Flow and Balance Sheet Provide Flexibility and Stability
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 10 Strong Cash Flow and Balance Sheet Provide Flexibility and Stability 1Q 2023 Cash Flow1 1Q 2023 Balance Sheet1 $189M $431M Operating Cash Flow2 Cash & ~2.2x Marketable Securities $157M Recurring Net Debt to Adjusted EBITDA4
Slide 11: Raising FY 2023 Guidance
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 11 Raising FY 2023 Guidance1 $2.26 – 2.31 Billion $2.87 – 3.18 Billion (+4.5% – 6.5% constant currency) (Down 29% – 21% constant currency) Total Revenue Non-Respiratory Revenue $610 – 875 Million ~ Neutral Currency Translation
Slide 12: Summary
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 12 Summary • Strong start to the year that exceeded our expectations • Raised FY 2023 guidance due to underlying strength in non-respiratory business • We have the right strategy, products, and team to enable us to achieve our
Slide 13: Appendix
@® QuidelOrtho
Slide 14: 1Q 2023 Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 14 1Q 2023 Non-GAAP Reconciliation Selling, Research and Operating Operating Interest Other Provision for Gross profit marketing and development income income margin expense, net expense, net income taxes Net income administrat
Slide 15: 1Q 2022 Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 15 1Q 2022 Non-GAAP Reconciliation Selling, Research and Operating Operating Interest Other Provision for Gross profit marketing and development income income margin expense, net income, net income taxes Net income administrati
Slide 16: QTD Pro Forma Revenue by Region, Business Unit, and Category
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 16 QTD Pro Forma Revenue by Region, Business Unit, and Category Three Months Ended Respiratory Constant Currency (a) Segment revenue April 2, 2023 April 3, 2022 Percent Change Currency Impact Constant Currency (a) Revenue Impac
Slide 17: QTD Pro Forma Revenue Respiratory vs Non-Respiratory
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 17 QTD Pro Forma Revenue Respiratory vs Non-Respiratory Three Months Ended April 2, 2023 April 3, 2022 Percent Change Currency Impact Constant Currency (a) Respiratory Revenue $265.6 $947.3 (72.0)% (0.1)% (71.9)% Non-Respirator
Slide 18: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 18 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter In millions 1Q 2023 1Q 2022 Net income $ 48.8 $ 479.9 Pre-combination Ortho net income (a) — 14.8 Supplemental combined net income 48.8 494.7 Depreciation and amortiz
Slide 19: quidelortho.com
quidelortho.com