Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Q3 2025 Earnings Presentation
20 slides from Quidelortho's earnings presentation, Nov 5, 2025
Slide 1: QuidelOrtho Third Quarter 2025 Financial Results
November 5, 2025 QuidelOrtho Third Quarter 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: Q3 2025 Highlights
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 3 Q3 2025 Highlights1 Total Revenue $700M Business Unit Geography Category (5%) y/y1 Adjusted Labs North America EBITDA 57% 51% EMEA 12% $177M 4 2 China Recurring Point 12% 82% of Care Other 26% 19% 25% Margin2 Adjusted Diluted
Slide 4: YTD 2025 Highlights
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 4 YTD 2025 Highlights1 Total Revenue $2.01B Business Unit Geography Category (3%) y/y1 Adjusted North America EBITDA Labs 51% 58% EMEA 12% $444M 2 China Recurring Point 84% 12% of Care Other 25% 22% Margin2 18% Adjusted Diluted
Slide 5: Q3 2025 Operating Results Summary
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 5 Q3 2025 Operating Results Summary1 Fiscal Quarter Year to Date Q3 2025 Q3 2024 Q3 2025 Q3 2024 Total Revenue $699.9 $727.1 $2,006.6 $2,075.1 Constant Currency2 Growth (4.6%) (3.2%) Recurring Revenue3 $676.2 $698.9 $1,933.6 $1,
Slide 6: Focused on Margin Expansion
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 6 Focused on Margin Expansion Targeting Mid- to High-20% Adjusted EBITDA Margins FY24 Actuals FY25 Estimates 2024 2025 at Revenue 2026 2027 $2.78B $2.7B Guidance 19.5%A 22%E Mid-Point Cost-savings Achieved: Cost-savings Identifi
Slide 7: Q3 2025 Cash Flow and Balance Sheet
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 7 Q3 2025 Cash Flow and Balance Sheet Balance Sheet Q3 2025 Cash Flow1 (as of September 28, 2025) $(50)M $(35)M $98M ~4.4x Q3 Adjusted YTD Adjusted Net Debt to Cash Free Cash Flow2 Free Cash Flow3 Adjusted EBITDA4 $42M $118M $2.
Slide 8: Capital Allocation Priorities
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 8 Capital Allocation Priorities Debt Refinancing Enhances Financial Flexibility Borrowing Overview: Highlights: (In millions) September 28, 2025 December 29, 2024 • Improved leverage ratio covenants Term Loan A $ 1,150.0 $ 2,282
Slide 9: FY 2025 Financial Guidance
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 9 FY 2025 Financial Guidance1 Assumptions Revenue • Labs business growth expected in the mid-single digits Financial Outlook FY 2025 • Transfusion Medicine business growth, excluding Donor Screening, expected in the low- single
Slide 10: Appendix
Appendix @® QuidelOrtho
Slide 11: Non-GAAP Adjustments
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 11 Non-GAAP Adjustments Fiscal Quarter Year to Date In millions Q3 2025 Q3 2024 Q3 2025 Q3 2024 Incremental depreciation on PP&E fair value adjustment $ 3.2 $ 5.0 $ 9.8 $ 15.9 Amortization of deferred cloud computing implementat
Slide 12: QTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 12 QTD Non-GAAP Reconciliation Fiscal Quarter Q3 2025 Fiscal Quarter Q3 2024 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 335.6 $ 5.4 $ 341.0 $ 352.3 $ 5.1 $ 357.4 Selling, marketing and
Slide 13: YTD Non-GAAP Reconciliation
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 13 YTD Non-GAAP Reconciliation Year to Date Q3 2025 Year to Date Q3 2024 In millions GAAP Adjustments (a) Non-GAAP GAAP Adjustments (a) Non-GAAP Gross profit $ 953.8 $ 14.6 $ 968.4 $ 960.4 $ 16.4 $ 976.8 Selling, marketing and a
Slide 14: Revenue by Geography
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 14 Revenue by Geography Three Months Ended 2024 2025 Third Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Q2 Q3 Percent Currency Constant (a) 19 Revenue ex COVID-19 Change Impact Currency (a) Impact Revenue North America
Slide 15: Revenue by Business Unit
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 15 Revenue by Business Unit Three Months Ended 2024 2025 Third Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Q2 Q3 Percent Currency Constant (a) 19 revenue ex COVID-19 Change Impact Currency (a) impact Revenue Labs $357.
Slide 16: Revenue by Respiratory and Non-Respiratory
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 16 Revenue by Respiratory and Non-Respiratory Three Months Ended 2024 2025 Third Quarter Constant Less: COVID- Currency Q1 Q2 Q3 Q4 Q1 Q2 Q3 Percent Currency Constant (a) 19 revenue ex COVID-19 Change Impact Currency (a) impact
Slide 17: Non-GAAP Reconciliations
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 17 Non-GAAP Reconciliations Three Months Ended September 28, 2025 September 29, 2024 Percent Change Currency Impact Constant Currency (a) Total revenues $699.9 $727.1 (3.7)% 0.9% (4.6)% COVID-19 revenue (26.9) (72.3) Donor Scree
Slide 18: Non-GAAP Reconciliations
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 18 Non-GAAP Reconciliations Three Months Ended September 28, 2025 September 29, 2024 Percent Change Currency Impact Constant Currency (a) Triage revenue 33.6 30.8 9.1% 1.9% 7.2% Other cardiac revenue 19.1 11.1 All other 111.9 16
Slide 19: Non-GAAP Reconciliations – Adjusted EBITDA
QuidelOrtho – Proprietary & Confidential. |© 2025. All Rights Reserved. 19 Non-GAAP Reconciliations – Adjusted EBITDA Fiscal Quarter Year to Date In millions Q3 2025 Q3 2024 Q3 2025 Q3 2024 Net loss $ (733.0) $ (19.9) $ (1,001.1) $ (1,873.6) Depreciation and amortization 112.1 113.1 329.5 344.1 Inte
Slide 20: quidelortho.com
quidelortho.com