| --- | --- | |-----------------------------------|-------| | | | | | | | Forging the Future of Diagnostics | | | Financial Results 3Q 2022 | | 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. You can identify these statements and other forward-looking statements in this presentation by words such as "may," "will ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________ FORM 10-Q ____________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 3, 2022 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commi ...

Financial Data and Key Metrics Changes - QuidelOrtho reported supplemental combined revenue of $898.5 million for Q2 2022, reflecting a 37.5% growth year-over-year [12][52] - Adjusted EBITDA margin was 32%, with adjusted EPS growth exceeding 100% [12][63] - Excluding COVID-related revenue, total revenue increased by 9% year-over-year [53] Business Line Data and Key Metrics Changes - Point of care revenue grew by 181% in Q2, with a 19% increase when excluding COVID-related revenues [54] - Labs revenue grew by 3%, and 6% excluding COVID-related revenues, driven by strength in clinic and asset revenue [54] - Transfusion Medicine revenue increased by 9%, while Molecular diagnostics revenue declined by 40% [54] Market Data and Key Metrics Changes - North America revenue grew by 59%, while EMEA grew by 6% and China by 25% [55] - Excluding COVID-related revenue, North America grew by 16%, EMEA by 8%, and China declined by 10% [55] Company Strategy and Development Direction - The integration of Quidel and Ortho is the top priority, with over 240 integration milestones achieved [16][19] - Five strategic priorities include integration and corporate culture, product innovation, global commercial excellence, operational excellence, and capital deployment [14][47] - Significant investments in R&D are planned to advance product pipelines and expand market penetration [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cost synergies and maintaining a focus on growth despite macroeconomic challenges [81][108] - The company anticipates a strong performance in the point of care market and expects mid-single-digit growth in labs and transfusion medicine businesses [66] - Inflation and global supply chain disruptions are ongoing challenges, but improvements in semiconductor access are expected [67] Other Important Information - The company plans to host an investor day on December 13, 2022, to provide deeper insights into growth initiatives [74][75] - The company has a strong balance sheet with cash and marketable securities of $446.7 million and total debt of $2.7 billion [65] Q&A Session Summary Question: Can you provide more detail on the different business segments as we move to the third and fourth quarter? - Management indicated that Q3 is typically a softer quarter and will share guidance for the second half [78][79] Question: How should we think about next year in terms of numbers and business segments? - Management expects to deliver on cost synergies and anticipates high single-digit to low double-digit growth excluding COVID revenue [80][81] Question: Can you provide clarity on the EPS guidance and how it relates to the second half of the year? - Management noted that Q3 is historically a low quarter, with the majority of EPS expected to fall into Q4 [89][90] Question: What are the sales figures for the Sofia business in the quarter? - Sofia revenue increased by approximately 25% year-over-year, primarily driven by volume [93][94] Question: What is the status of the Savanna timeline for 510-K approval? - The company expects to submit the 510-K by the end of the year, with a full launch in Europe planned [97][99] Question: How do you view the long-term EBITDA margin target of 30%? - Management remains committed to the 30% target but acknowledges challenges due to inflation and supply chain issues [106][108]

| --- | |-------| | | | | | | | | 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. You can identify these statements and other forward-looking statements in this presentation by words such as "may," "will," "would," "expect," "anticipate," "believe," "estimate," "plan," "intend," "continue," or similar words, exp ...

Ortho Clinical Diagnostics Holdings PLC (OCDX) Q1 2022 Earnings Conference Call May 4, 2022 4:30 PM ET Company Participants Bryan Brokmeier - Vice President, Investor Relations Chris Smith - Chairman and Chief Executive Officer Joseph Busky - Chief Financial Officer Operator Welcome to the Ortho Clinical Diagnostics First Quarter 2022 Earnings Conference Call and Webcast. At this time, all participants lines are in a listen-only mode. Please note this conference is being recorded. An audio replay of the con ...

| --- | --- | --- | --- | |--------------------------------------|----------------------|-------|-------| | | | | | | | | | | | | Earnings Results | | | | INVESTOR PRESENTATION (Nasdaq: OCDX) | 1Q 2022 May 04, 2022 | | | © Ortho Clinical Diagnostics 2022 Forward-Looking Statements This presentation and the oral remarks may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forwa ...

Transaction Overview - Quidel will acquire Ortho for $24.68 per share, funded by cash and newly issued shares[33] - Ortho shareholders are expected to own approximately 38% of the combined company[33] - The transaction is expected to close in the first half of 2022[33] Financial Synergies and Outlook - The combined company anticipates long-term revenue growth of 9-11% CAGR post-COVID[33, 36] - The combined company expects an EBITDA margin greater than 30%[33, 36] - The combined company expects to achieve cost synergies of approximately $90 million and revenue synergies of over $100 million by 2025[26, 28, 33] - The combined company expects over $750 million in operating cash flow[36] Combined Company Strengths - The combined company will be a Top-7 IVD pure-play diagnostics company[16, 38] - The combined company will have a pro forma revenue of $3.9 billion based on TTM Q3 2021 results[11, 22] - The combined company will have approximately 6,000 employees worldwide[24] - Quidel has ~$925 million in cash (FY2021) and no debt[43]

Financial Data and Key Metrics Changes - Revenue for Q4 2021 was $637 million, with a 2% increase in full-year revenue compared to 2020, primarily driven by strong demand for COVID-19 rapid immunoassay products [13][11] - Total COVID-19 revenue for Q4 was $511.8 million, with $466.7 million from rapid immunoassay products and $45.1 million from molecular products [45] - Gross profit for Q4 was $489.3 million, resulting in a gross profit margin of 77% [54] Business Line Data and Key Metrics Changes - QuickVue product revenues reached $427 million, driven by strong sales of QuickVue COVID-19 tests, which accounted for $419.5 million [47] - Sofia product revenues were $92.8 million, with Sofia SARS Antigen product sales at $47.2 million [46] - Cardiometabolic Immunoassay business revenue was $52.8 million, lower than the prior year due to the transition of the Beckman BNP business [50] Market Data and Key Metrics Changes - The retail channel accounted for 44% of QuickVue At-Home OTC test volume, with significant contributions from pharmacy partners [48] - The company is seeing strong demand for its Sofia COVID-19 antigen test in the professional market, with elevated demand due to COVID-19 case counts [18] - Demand is expected to moderate as COVID-19 cases decline, but government orders are anticipated to continue through Q2 2022 [20] Company Strategy and Development Direction - The acquisition of Ortho Clinical Diagnostics is expected to double the company's size and addressable global market, creating a comprehensive diagnostics solutions portfolio [9][26] - The company aims to leverage complementary expertise and capabilities to drive growth into new markets, with a focus on cross-selling opportunities [27][28] - Investment in R&D continues to expand the pipeline of proprietary assays across various platforms, including QuickVue, Sofia, and Savanna [55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Q1 2022 being the largest revenue quarter in the company's history, with expectations for continued strong demand [20] - The company anticipates maintaining 9% to 11% top-line growth post-COVID and generating 30% or more EBITDA margins [28] - Management acknowledged the challenges of predicting future COVID-19 demand but emphasized ongoing engagement with various organizations for international opportunities [65] Other Important Information - The company generated over $800 million in cash flow from operations in 2021 and maintained minimal debt on its balance sheet [57] - As of February 11, the company had approximately $925 million in cash and equivalents, expected to exceed $1.2 billion by the end of Q1 2022 [58] - The integration of Ortho is expected to be completed within approximately two years, with identified cost synergies of $90 million and revenue synergies of $100 million by 2025 [36][37] Q&A Session Summary Question: Can you provide more color on 2022 expectations and government contracts? - Management indicated that they shipped little to the government in Q4 but expect to fulfill the government contract by the end of Q2, with potential for some shipments to extend into Q3 [62][63] Question: What is the baseline level of COVID expectations moving forward? - Management stated that the previous floor of $25 million is no longer applicable and that they will need to establish a new baseline based on evolving demand and government initiatives [88][91] Question: What are the biggest challenges in integrating the two companies? - Management highlighted that time is the main challenge, but both teams have detailed plans and are confident in executing the integration [83] Question: How do you view the current market's perception of the Ortho acquisition? - Management believes the market may not fully understand the strategic value of the acquisition and emphasized the importance of communicating the long-term benefits [100][101]

Ortho Clinical Diagnostics Holdings plc (OCDX) Q3 2021 Earnings Conference Call November 3, 2021 5:00 PM ET Company Participants Bryan Brokmeier - Vice President of Investor Relations Chris Smith - Chairman & Chief Executive Officer Joe Busky - Chief Financial Officer Mike Iskra - Executive Vice President of Commercial Excellence & Strategy Conference Call Participants Tycho Peterson - JP Morgan Vijay Kumar - ISI Derik De Bruin - Bank of America Matt Sykes - Goldman Sachs Patrick Donnelly - Citi Tejas Savan ...

Financial Performance - Core revenue grew to $487.5 million, an increase of 26.2% as reported and 22.5% in constant currency compared to the second quarter of 2020[110] - Clinical Labs revenue increased by 24.9% as reported and 21.1% in constant currency, with ex-CoV-2 growth at 28%[110, 108] - Transfusion Medicine revenue increased by 29.1% as reported and 25.3% in constant currency, driven by base business strength and CTS customer acquisition[110, 108] - Adjusted EBITDA was $128.1 million, representing a 27% increase[103] - The company reduced net leverage to 4.0x, ahead of forecast[33] - $144.1 million adjusted free cash flow in Q2 2021[120] Market and Revenue Diversification - Clinical Labs accounted for 66% of revenue, while Transfusion Medicine accounted for 33%[109] - North America contributed 53% of core revenue, EMEA 14%, China 13%, Japan 7%, LATAM 7%, and ASPAC 6%[31] - Recurring revenue constitutes 93% of the core revenue mix[30] Growth Strategies and Initiatives - The company is focused on product innovation, global commercial excellence, and operational efficiency to drive profitable growth[33] - Expansion of the Commercial Excellence program into emerging markets is accelerating growth[33] - The company is focused on increasing lifetime customer value through menu expansion and utilization, with integrated placements showing significant revenue growth[36]