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QuidelOrtho (QDEL) - 2026 Q1 - Quarterly Results
QDELQuidelOrtho (QDEL)2025-05-07 20:07

Revenue Performance - Total revenue for Q1 2025 was 693million,adecreaseof2.5693 million, a decrease of 2.5% from 711 million in the prior year period, primarily due to lower COVID-19 and Donor Screening revenue[3] - Non-respiratory revenue was 573million,flatcomparedtotheprioryear,whileLabsrevenuegrewby5573 million, flat compared to the prior year, while Labs revenue grew by 5% as reported and 7% in constant currency[5] - Total revenues for the three months ended March 30, 2025, were 692.8 million, a decrease of 2.6% compared to 711.0millionforthesameperiodin2024[32]−Respiratoryrevenuesdecreasedby12.7711.0 million for the same period in 2024[32] - Respiratory revenues decreased by 12.7% to 119.8 million for the three months ended March 30, 2025, compared to 137.3millionforthesameperiodin2024[32]−Non−respiratoryrevenuesremainedrelativelystableat137.3 million for the same period in 2024[32] - Non-respiratory revenues remained relatively stable at 573.0 million, a slight decrease of 0.1% compared to 573.7millionintheprioryear[32]ProfitabilityMetrics−GAAPdilutedlosspershareforQ12025was573.7 million in the prior year[32] Profitability Metrics - GAAP diluted loss per share for Q1 2025 was 0.19, significantly improved from a loss of 25.50intheprioryearperiod[4]−GAAPoperatingincomeforQ12025was25.50 in the prior year period[4] - GAAP operating income for Q1 2025 was 33 million, compared to an operating loss of 1.76billionintheprioryear,withanoperatingmarginof51.76 billion in the prior year, with an operating margin of 5%[4] - Adjusted EBITDA for Q1 2025 was 160 million, up from 132millionintheprioryear,withanadjustedEBITDAmarginof23132 million in the prior year, with an adjusted EBITDA margin of 23%[6] - Adjusted net income for the three months ended March 30, 2025, was 50.2 million, or 0.74perdilutedshare,comparedto0.74 per diluted share, compared to 29.8 million, or 0.44perdilutedshare,forthesameperiodin2024[25]−Thecompanyreportedanetlossof0.44 per diluted share, for the same period in 2024[25] - The company reported a net loss of 12.7 million for the three months ended March 30, 2025, compared to a net loss of 1,706.0millionforthesameperiodin2024[30]CashFlowandAssets−Cashprovidedbyoperatingactivitieswas1,706.0 million for the same period in 2024[30] Cash Flow and Assets - Cash provided by operating activities was 65.6 million for the three months ended March 30, 2025, compared to cash used of 0.7millionforthesameperiodin2024[22]−Cash,cashequivalents,andrestrictedcashattheendoftheperiodincreasedto0.7 million for the same period in 2024[22] - Cash, cash equivalents, and restricted cash at the end of the period increased to 127.2 million from 79.0millionattheendofthesameperiodin2024[22]−Totalcurrentassetsincreasedto79.0 million at the end of the same period in 2024[22] - Total current assets increased to 1,258.2 million as of March 30, 2025, from 1,218.9millionasofDecember29,2024[20]−Totalliabilitiesincreasedto1,218.9 million as of December 29, 2024[20] - Total liabilities increased to 3,464.4 million as of March 30, 2025, compared to 3,439.1millionasofDecember29,2024[20]GuidanceandFutureOutlook−Thecompanymaintainsitsfull−year2025financialguidance,expectingtotalrevenuesbetween3,439.1 million as of December 29, 2024[20] Guidance and Future Outlook - The company maintains its full-year 2025 financial guidance, expecting total revenues between 2.60 billion and 2.81billion[7]−AdjusteddilutedEPSfor2025isprojectedtobebetween2.81 billion[7] - Adjusted diluted EPS for 2025 is projected to be between 2.07 and 2.57[7]OperationalInitiatives−Integration−relatedchargesforQ12025amountedto2.57[7] Operational Initiatives - Integration-related charges for Q1 2025 amounted to 16 million, contributing to the overall operating expenses of $240 million, which decreased by 9%[5] - The company is focused on operational improvement initiatives to address macroenvironment challenges and enhance profitability[2]