Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — William Blair 45th Annual Growth Stock Conference 2025
28 slides from Quidelortho's conference presentation, Jun 4, 2025
Slide 1: William Blair 45th Annual Growth Stock Conference
June 4, 2025 William Blair 45th Annual Growth Stock Conference Brian Blaser President & Chief Executive Officer
Slide 2: Forward-looking Statements
QuidelOrtho | © 2025. All Rights Reserved. 2 Forward-looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herein that is not strictly historical, including,
Slide 3: Non-GAAP Financial Measures
QuidelOrtho | © 2025. All Rights Reserved. 3 Non-GAAP Financial Measures This presentation contains financial measures that are considered non-GAAP financial measures under applicable rules and regulations of the Commission, including but not limited to “constant currency revenue changes,” “adjusted
Slide 4: About Us: Advancing the Power of Diagnostics
QuidelOrtho | © 2025. All Rights Reserved. 4 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 | Transfusion Medicine | Point
Slide 5: Global In-Vitro Diagnostics Company
QuidelOrtho | © 2025. All Rights Reserved. 5 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 America 20%1 Headquarters Manuf
Slide 6: Leadership Team
QuidelOrtho | © 2025. All Rights Reserved. 6 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 Jonathan Siegrist, Ph.D Executive V
Slide 7: Diagnostic Portfolio Across the Continuum of Care
QuidelOrtho | © 2025. All Rights Reserved. 7 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 Core Large Small-Med Micro- Phy
Slide 8: Leading Global Portfolio in Large, Growing Markets
QuidelOrtho | © 2025. All Rights Reserved. 8 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 Market Size Source: Market sizes
Slide 9: Labs $1.4B FY'24
QuidelOrtho | © 2025. All Rights Reserved. 9 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 1. Based on QuidelOrtho manage
Slide 10: Transfusion Medicine $523M FY'24
QuidelOrtho | © 2025. All Rights Reserved. 10 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 Donor Screening) 1. Based on
Slide 11: Point of Care $694M FY'24
QuidelOrtho | © 2025. All Rights Reserved. 11 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 Placements Placements (excluding COVID
Slide 12: Molecular Diagnostics $24M FY'24
QuidelOrtho | © 2025. All Rights Reserved. 12 Molecular Diagnostics Developing World-Class Molecular Solutions Highly Accurate Results in Minutes Small Footprint, Optimized Workflow $24M FY’24 Revenue
Slide 13: Overview of Strategy to Accelerate Growth in Molecular Diagnostics
QuidelOrtho | © 2025. All Rights Reserved. 13 Overview of Strategy to Accelerate Growth in Molecular Diagnostics QuidelOrtho intends to acquire full ownership of LEX Diagnostics for consideration at closing of approximately $100 million, upon U.S. Food and Drug Administration (FDA) clearance, expe
Slide 14: LEX Diagnostics Technology Overview
QuidelOrtho | © 2025. All Rights Reserved. 14 LEX Diagnostics Technology Overview Gold Standard PCR at Ultra-Fast Speeds An innovative molecular diagnostics company developing products designed to enhance patient care by delivering clinical insights within minutes and at the time they are most val
Slide 15: Innovative Technology and Faster Path to Commercialization
QuidelOrtho | © 2025. All Rights Reserved. 15 Innovative Technology and Faster Path to Commercialization QuidelOrtho’s strategy for the proposed acquisition of LEX Diagnostics upon FDA clearance Accelerates Provides Innovative Seamless Fit Provides Near-Term Strengthens Long- Entry into High- Techno
Slide 16: Disciplined Strategy
QuidelOrtho | © 2025. All Rights Reserved. 16 Disciplined Strategy Driving improved performance and value creation Delivering an Driving Prioritizing Exceptional Profitable, Effective Customer Sustainable Execution Experience Growth
Slide 17: Disciplined Strategy: Key Priorities
QuidelOrtho | © 2025. All Rights Reserved. 17 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 structure to Target fastest gr
Slide 18: Q1 2025 Highlights
QuidelOrtho | © 2025. All Rights Reserved. 18 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 EPS 3 $0.74 3 1. Revenue gro
Slide 19: Q1 2025 Cash Flow and Balance Sheet
QuidelOrtho | © 2025. All Rights Reserved. 19 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 EBITDA3 $47M $2.5B ~3.4x Adjusted Consolidated Leverage Ratio Total Debt
Slide 20: Full-Year 2025 Financial Guidance Reaffirmed
QuidelOrtho | © 2025. All Rights Reserved. 20 Full-Year 2025 Financial Guidance Reaffirmed Financial Guidance FY 20251 $2.60B–$2.81B2 $575M–$615M 22% $2.07-$2.57 Total Revenues Adjusted EBITDA Adjusted EBITDA Margin Adjusted Diluted EPS (reported) Assumptions: Please see page 6 of the “First Quarter
Slide 21: Focused on Margin Expansion
QuidelOrtho | © 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-Savings: Targets: • Mid-singl
Slide 22: Capital Allocation Priorities
QuidelOrtho | © 2025. All Rights Reserved. 22 Capital Allocation Priorities Menu expansion into fastest growing, most profitable market segments Build Sustainable, Finish integration, i.e., ERP, IT infrastructure Profitable Growth Prudently manage balance sheet, reduce debt and drive free cash
Slide 23: Value Creation Thesis
QuidelOrtho | © 2025. 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 Differentiated platforms and customer exp
Slide 24: Appendix
QuidelOrtho | © 2025. All Rights Reserved. 24 Appendix
Slide 25: Non-GAAP Adjustments
QuidelOrtho | © 2025. All Rights Reserved. 25 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 Cost of sales, excluding amor
Slide 26: Non-GAAP Reconciliation
QuidelOrtho | © 2025. All Rights Reserved. 26 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 administrative 187.0 (6.8) 180.2
Slide 27: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho | © 2025. All Rights Reserved. 27 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 taxes 3.9 (92.9) Integration
Slide 28: quidelortho.com
quidelortho.com
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