QuidelOrtho (US:QDEL)2025-05-07 20:07Revenue Performance - Total revenue for Q1 2025 was $693 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 $573 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 $711.0 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 $137.3 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 $573.7 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 $25.50 in the prior year period[4] - GAAP operating income for Q1 2025 was $33 million, compared to an operating loss of $1.76 billion in the prior year, with an operating margin of 5%[4] - Adjusted EBITDA for Q1 2025 was $160 million, up from $132 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 $0.74 per diluted share, compared to $29.8 million, or $0.44 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 $1,706.0 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 $0.7 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 $79.0 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 $1,218.9 million as of December 29, 2024[20] - Total liabilities increased to $3,464.4 million as of March 30, 2025, compared to $3,439.1 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 $2.81 billion[7] - Adjusted diluted EPS for 2025 is projected to be between $2.07 and $2.57[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]