Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Q4 2025 Earnings Presentation
20 slides from Quidelortho's earnings presentation, Feb 11, 2026
Slide 1: QuidelOrtho Fourth Quarter and Full-Year 2025 Financial Results
February 11, 2026 QuidelOrtho Fourth Quarter and Full-Year 2025 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 2025 Highlights
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 3 Q4 2025 Highlights1 Total Revenue $724M Business Unit Geography Category 1% y/y1 Adjusted Labs North America EBITDA 57% 51% EMEA 12% $153M 2 China Recurring Point 12% 82% of Care Other 26% 19% 21% Margin2 Adjusted Diluted EPS
Slide 4: FY 2025 Highlights
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 4 FY 2025 Highlights1 Total Revenue $2.73B Business Unit Geography Category (2%) y/y1 Adjusted North America EBITDA Labs 51% 58% EMEA 12% $597M 2 China Recurring Point 84% 12% of Care Other 25% 22% Margin2 18% Adjusted Diluted E
Slide 5: Q4 and FY 2025 Operating Results Summary
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 5 Q4 and FY 2025 Operating Results Summary1 Fiscal Quarter Fiscal Year Q4 2025 Q4 2024 FY 2025 FY 2024 Total Revenue $723.6 $707.8 $2,730.2 $2,782.9 Constant Currency2 Growth 1.1% (2.1%) Recurring Revenue3 $689.1 $672.8 $2,622.7
Slide 6: Q4 and FY 2025 Cash Flow and Balance Sheet
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 6 Q4 and FY 2025 Cash Flow and Balance Sheet Balance Sheet Q4 and FY 2025 Cash Flow1 (as of December 28, 2025) $87M $(77)M $170M ~4.2x Net Debt to Q4 Free Cash Flow FY Free Cash Flow Cash Adjusted EBITDA2 $45M $182M $2.5B ~3.7x
Slide 7: FY 2026 Financial Guidance
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 7 FY 2026 Financial Guidance1 Assumptions FY 2026 Financial Outlook As of 02/11/26 Revenue • Labs business: Mid-single digit growth • Immunohematology: Low-single digit growth • U.S. Donor Screening wind-down to be substantially
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 2025 Q4 2024 FY 2025 FY 2024 Incremental depreciation on PP&E fair value adjustment $ 2.8 $ 4.9 $ 12.6 $ 20.8 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 2025 Fiscal Quarter Q4 2024 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 320.4 $ 4.8 $ 325.2 $ 326.1 $ 4.9 $ 331.0 Selling, marketing and
Slide 11: FY Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 11 FY Non-GAAP Reconciliation Fiscal Year 2025 Fiscal Year 2024 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 1,274.2 $ 19.4 $ 1,293.6 $ 1,286.5 $ 21.3 $ 1,307.8 Selling, marketing and ad
Slide 12: Revenue by Geography
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 12 Revenue by Geography Three Months Ended 2024 2025 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 2024 2025 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 $
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 2024 2025 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
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 15 Non-GAAP Reconciliations Three Months Ended December 28, 2025 December 29, 2024 Percent Change Currency Impact Constant Currency (a) Non-Respiratory revenues $600.3 $564.6 6.3% 1.4% 4.9% Donor Screening revenue (11.8) (19.7)
Slide 16: Non-GAAP Reconciliations
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 16 Non-GAAP Reconciliations Three Months Ended December 28, 2025 December 29, 2024 Percent Change Currency Impact Constant Currency (a) Triage revenue 36.1 30.4 18.8% 2.4% 16.4% Other cardiac revenue 17.1 13.6 All other 119.9 14
Slide 17: Non-GAAP Reconciliations
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 17 Non-GAAP Reconciliations Three Months Ended December 28, 2025 December 29, 2024 Percent Change Currency Impact Constant Currency (a) Flu revenue 80.7 75.9 6.3% —% 6.3% COVID-19 revenue 20.4 43.5 (53.1)% 0.1% (53.2)% All other
Slide 18: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 18 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter Fiscal Year In millions Q4 2025 Q4 2024 FY 2025 FY 2024 Net loss $ (130.7) $ (178.4) $ (1,131.8) $ (2,052.0) Depreciation and amortization 112.5 109.3 442.0 453.4 Inte
Slide 19: Non-GAAP Reconciliations – Free Cash Flow
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 19 Non-GAAP Reconciliations – Free Cash Flow Fiscal Quarter Fiscal Year In millions Q4 2025 FY 2025 Net cash provided by operating activities $ 131.9 $ 105.2 Less: Acquisitions of property, plant, equipment, investments and inta
Slide 20: quidelortho.com
quidelortho.com