Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Q1 2024 Earnings Presentation
14 slides from Quidelortho's earnings presentation, May 8, 2024
Slide 1: QuidelOrtho First Quarter 2024 Financial Results
May 8, 2024 QuidelOrtho First Quarter 2024 Financial Results
Slide 2: Forward-Looking Statements
© 2024. 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 are a
Slide 3: Non-GAAP Financial Measures
© 2024. All Rights Reserved. 3 Non-GAAP Financial Measures Non-GAAP Financial Measures: This presentation contains financial measures, including but not limited to “constant currency” revenue and revenue changes, “constant currency, non- respiratory" revenue and revenue changes, “constant currency,
Slide 4: Q1 2024 Highlights
© 2024. All Rights Reserved. 4 Q1 2024 Highlights1 Adjusted Adjusted Total Revenue EBITDA Diluted EPS $711M Global year-over-year revenue growth 2 3 $132M $0.44 across regions of 5% as reported and 6% in constant currency ("CC"), excluding COVID-19 revenue (16 %) y/y1 19% Margin2 (76%) y/y3 • Non-re
Slide 5: Q1 2024 Operating Results Summary
© 2024. All Rights Reserved. 5 Q1 2024 Operating Results Summary1 Fiscal Quarter Ended Q1 2024 Q1 2023 Total Revenue $711.0 $846.1 Constant Currency2 Growth (15.5%) 2023 Adjusted Gross Profit $337.9 $455.4 Adjusted Gross Profit Margin 47.5% 53.8% Adjusted Diluted EPS $0.44 $1.80 Adjusted Diluted EPS
Slide 6: Q1 2024 Cash Flow and Balance Sheet
© 2024. All Rights Reserved. 6 Q1 2024 Cash Flow and Balance Sheet Q1 2024 Cash Flow1 Balance Sheet as of March 31, 2024 $(1)M $79M Operating Cash Flow1 Cash & ~3.8x Marketable Securities $(13)M Adjusted Net Debt to Free Cash Flow2 Adjusted EBITDA3 $64M Capital Expenditures1 $2.4B Total Debt 1. For
Slide 7: Appendix
@® QuidelOrtho
Slide 8: Non-GAAP Adjustments
© 2024. All Rights Reserved. 8 Non-GAAP Adjustments Fiscal Quarter Ended In millions Q1 2024 Q1 2023 Incremental depreciation on PP&E fair value adjustment $ 5.5 $ 6.5 Amortization of deferred cloud computing implementation costs 0.2 0.3 Other adjustments 0.1 — Cost of sales, excluding amortization
Slide 9: Non-GAAP Reconciliation
© 2024. All Rights Reserved. 9 Non-GAAP Reconciliation Fiscal Quarter Ended Q1 2024 Fiscal Quarter Ended Q1 2023 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 332.1 $ 5.8 $ 337.9 $ 448.6 $ 6.8 $ 455.4 Selling, marketing and administrative 204.7 (12.3) 192.4 2
Slide 10: QTD Revenue by Region, Business Unit, and Category
© 2024. All Rights Reserved. 10 QTD Revenue by Region, Business Unit, and Category Three Months Ended Segment revenue March 31, 2024 April 2, 2023 Percent Change Currency Impact Constant Currency (a) Respiratory Constant Currency (a) Revenue Impact Non-Respiratory Revenue North America $433.9 $582.8
Slide 11: Revenue Respiratory vs Non-Respiratory and ex-COVID-19 Revenue
© 2024. All Rights Reserved. 11 Revenue Respiratory vs Non-Respiratory and ex-COVID-19 Revenue Three Months Ended March 31, 2024 April 2, 2023 Percent Change Currency Impact Constant Currency (a) Respiratory Revenue $137.3 $265.6 (48.3)% —% (48.3)% Non-Respiratory Revenue 573.7 580.5 (1.2)% (1.0)% (
Slide 12: Revenue Excluding Non-GAAP Items
© 2024. All Rights Reserved. 12 Revenue Excluding Non-GAAP Items Three Months Ended March 31, 2024 April 2, 2023 Percent Change Currency Impact Constant Currency (a) Respiratory Revenue $137.3 $265.6 (48.3)% —% (48.3)% COVID-19-related government orders (6.7) (142.6) (95.3)% —% (95.3)% Respiratory R
Slide 13: Non-GAAP Reconciliations – Adjusted EBITDA
© 2024. All Rights Reserved. 13 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter In millions Q1 2024 Q1 2023 Net (loss) income $ (1,706.0) $ 48.8 Depreciation and amortization 114.9 114.2 Interest expense, net 39.0 36.7 (Benefit from) provision for income taxes (92.9) 11.2 Goodwill impairme
Slide 14: quidelortho.com
quidelortho.com