Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Q4 2024 Earnings Presentation
18 slides from Quidelortho's earnings presentation, Feb 12, 2025
Slide 1: QuidelOrtho Fourth Quarter and Full-Year 2024 Financial Results
February 12, 2025 QuidelOrtho Fourth Quarter and Full-Year 2024 Financial Results
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 t
Slide 3: Q4 2024 Highlights
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 3 Q4 2024 Highlights1 Total Revenue $708M Business Unit Geography Category (4%) y/y1 Adjusted Labs North America EBITDA 57% 51% EMEA 12% $150M 2 China Recurring Point 12% 82% of Care Other 26% 19% 21% Margin2 Adjusted Diluted EP
Slide 4: FY 2024 Highlights
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 4 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 E
Slide 5: Q4 and FY 2024 Operating Results Summary
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 5 Q4 and FY 2024 Operating Results Summary1 Fiscal Quarter Fiscal Year Q4 2024 Q4 2023 FY 2024 FY 2023 Total Revenue $707.8 $742.6 $2,782.9 $2,997.8 Constant Currency2 Growth (4.4%) (6.6%) Recurring Revenue3 $665.2 $703.9 $2,634
Slide 6: Q4 and FY 2024 Cash Flow and Balance Sheet
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 6 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 $42M
Slide 7: FY 2025 Financial Guidance
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 7 FY 2025 Financial Guidance1 Assumptions Revenue Growth FY 2025 • Foreign currency exchange to have negative impact of $55 million based on currency rates as of January 31, 2025 Financial Outlook As of 02/12/25 • Labs business
Slide 8: Appendix
Appendix @® QuidelOrtho
Slide 9: Non-GAAP Adjustments
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 9 Non-GAAP Adjustments Fiscal Quarter Fiscal Year In millions Q4 2024 Q4 2023 FY 2024 FY 2023 Incremental depreciation on PP&E fair value adjustment $ 4.9 $ 6.1 $ 20.8 $ 25.1 Amortization of deferred cloud computing implementati
Slide 10: Q4 Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 10 Q4 Non-GAAP Reconciliation Fiscal Quarter Q4 2024 Fiscal Quarter Q4 2023 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 326.1 $ 4.9 $ 331.0 $ 382.6 $ 6.3 $ 388.9 Selling, marketing and
Slide 11: FY Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 11 FY Non-GAAP Reconciliation Fiscal Year 2024 Fiscal Year 2023 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 1,286.5 $ 21.3 $ 1,307.8 $ 1,497.1 $ 26.1 $ 1,523.2 Selling, marketing and ad
Slide 12: Revenue by Geography
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 12 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 revenue ex COVID-19 Change Impact Currency (a) impact Revenue North Amer
Slide 13: Revenue by Business Unit
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 13 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) 19 revenue ex COVID-19 Change Impact Currency (a) impact Revenue Labs(b
Slide 14: Revenue by Respiratory and Non-Respiratory
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 14 Revenue by Respiratory and Non-Respiratory Three Months Ended 2023 2024 Fourth Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Percent Currency Constant (a) 19 revenue ex-COVID-19 Change Impact Currency (a) imp
Slide 15: Non-GAAP Reconciliations - Labs Revenue
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 15 Non-GAAP Reconciliations - Labs Revenue Three Months Ended December 29, 2024 December 31, 2023 Percent Change Currency Impact Constant Currency (a) Total Labs revenue $359.7 $351.9 2.2% (0.6)% 2.8% COVID-19 revenue (0.7) (1.8
Slide 16: Non-GAAP Reconciliations - Cardiac Revenue
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 16 Non-GAAP Reconciliations - Cardiac Revenue Three Months Ended December 29, 2024 December 31, 2023 Percent Change Currency Impact Constant Currency (a) Cardiac revenue 43.8 48.2 (9.1)% 0.3% (9.4)% All other 141.0 168.6 Point o
Slide 17: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 17 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter Fiscal Year In millions Q4 2024 Q4 2023 FY 2024 FY 2023 Net (loss) income $ (153.4) $ 7.0 $ (2,027.0) $ (10.1) Depreciation and amortization 109.3 115.4 453.4 457.2 In
Slide 18: quidelortho.com
quidelortho.com