Slide 1: QuidelOrtho Financial Results 2Q 2023
August 8, 2023 QuidelOrtho Financial Results 2Q 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: 2Q 2023 Highlights
© 2023. All Rights Reserved. 4 2Q 2023 Adjusted Total Revenue Adjusted EPS Highlights1 EBITDA 2 $665M $113M 22 $0.26 (26%) y/y1 (88)% y/y1 • Solid financial results as we 17.0% Margin1 executed on our three near-term growth drivers • Non-respiratory revenue up 4% y/y Business Unit Geography Category
Slide 5: A Clear Path to Meaningful Growth Over the Next Few Years
© 2023. All Rights Reserved. 5 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 6: Financial Results
Financial Results @® QuidelOrtho”
Slide 7: 2Q 2023 Supplemental Combined Revenue Results
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 7 2Q 2023 Supplemental Combined Revenue Results1 Revenue Revenue Revenue by Business Unit by Geography by Category POC (64)% [(5)% non-respiratory] North America (36)% [(2)% non-respiratory] Recurring 0% [+4% non-respiratory] L
Slide 8: 2Q 2023 Operating Results Summary
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 8 Operating Results Summary1 Solid results outside of respiratory season demonstrate resiliency of our business model Fiscal Quarter Ended1 2Q 2023 2Q23 2Q222 Highlights Total Revenue $665.1 $898.5 Constant Currency3 Growth (25
Slide 9: Strong Balance Sheet and FY Cash Flow Outlook Provide Flexibility and Stability
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 9 Strong Balance Sheet and FY Cash Flow Outlook Provide Flexibility and Stability 2Q23 cash flow affected by seasonality of cash flows, but we expect FY 2023 adjusted free cash flow to be more than 100% of adjusted net income 2
Slide 10: Updating FY 2023 Guidance
QuidelOrtho – Proprietary & Confidential. |© 2023. All Rights Reserved. 10 Updating FY 2023 Guidance1 Change reflects stronger labs outlook offset by prudent change in respiratory outlook FY 2023 FY 2023 Change 2 Financial Outlook As of Q2’23 As of Q1’23 (at Midpoint) Reporting Reporting Non-respira
Slide 11: Summary
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 11 Summary Second quarter demonstrated strength of our combined organization with solid financial results driven by strength in our Labs business and Triage Raised non-respiratory revenue guidance to the high end of our prior g
Slide 12: Appendix
@® QuidelOrtho
Slide 13: 2Q 2023 QTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 13 2Q 2023 QTD Non-GAAP Reconciliation Selling, Research and Operating (loss) Operating Interest Other (Benefit from) Net (loss) Gross profit marketing and development income margin expense, net expense, net provision for incom
Slide 14: 2Q 2022 QTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 14 2Q 2022 QTD Non-GAAP Reconciliation Selling, Research and Operating Operating Interest Other expense Provision for Net income Gross profit marketing and development income (loss) margin expense, net (income), net income taxe
Slide 15: 2Q 2023 YTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 15 2Q 2023 YTD Non-GAAP Reconciliation Selling, Research and Operating Operating Interest Other Provision for Net (loss) Gross profit marketing and development income margin expense, net expense, net income taxes income adminis
Slide 16: 2Q 2022 YTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 16 2Q 2022 YTD Non-GAAP Reconciliation Selling, Research and Operating Operating Interest Other expense Provision for Net income Gross profit marketing and development income margin expense, net (income), net income taxes (loss
Slide 17: QTD Pro Forma Revenue by Region, Business Unit, and Category
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 17 QTD Pro Forma Revenue by Region, Business Unit, and Category Three Months Ended Respiratory Constant Currency (a) Segment revenue July 2, 2023 July 3, 2022 Percent Change Currency Impact Constant Currency (a) Revenue Impact
Slide 18: YTD Pro Forma Revenue by Region, Business Unit, and Category
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 18 YTD Pro Forma Revenue by Region, Business Unit, and Category Six Months Ended Respiratory Constant Currency (a) Segment revenue July 2, 2023 July 3, 2022 Percent Change Currency Impact Constant Currency (a) Revenue Impact No
Slide 19: Pro Forma Revenue Respiratory vs Non-Respiratory
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 19 Pro Forma Revenue Respiratory vs Non-Respiratory Three Months Ended July 2, 2023 July 3, 2022 Percent Change Currency Impact Constant Currency (a) Respiratory Revenue $89.0 $339.1 (73.8)% —% (73.8)% Non-Respiratory Revenue 5
Slide 20: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho – Proprietary & Confidential. | © 2023. All Rights Reserved. 20 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter Year to date In millions 2Q 2023 2Q 2022 2Q 2023 2Q 2022 Net (loss) income $ (53.2) $ 19.3 $ (4.4) $ 499.2 Pre-combination Ortho net loss (a) — (60.7) — (45.9) Supple
Slide 21: quidelortho.com
quidelortho.com