August 5, 2025 QuidelOrtho Second Quarter 2025 Financial Results 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 the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herein that is not strictly historical, includin ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $18.3 million, representing a year-over-year growth of 16% compared to $15.8 million in Q2 2024 [35] - Cash burn decreased to $8.7 million in Q2 2025, a 35% year-over-year improvement [42] - Adjusted gross margin improved to 74.4%, up 120 basis points from 73.2% in Q2 2024 [38] Business Line Data and Key Metrics Changes - Revenue excluding biopharma grew 20% year-over-year in Q2 2025, while overall revenue growth was 16% due to modest headwinds from biopharma [19][20] - HemOnc analysis grew 19% year-over-year in Q2 2025, indicating strong performance in hematology testing [21] - Liquid biopsy revenue increased by approximately 900% year-over-year, with 50 customers now using the MSK Access application [72] Market Data and Key Metrics Changes - In North America, revenue excluding biopharma grew more than 19% year-over-year in Q2 2025 [9] - Asia Pacific saw almost 100% year-over-year revenue growth, with significant new business momentum [27] - EMEA growth remained solid, particularly in the UK, which saw over 50% year-over-year volume growth [20] Company Strategy and Development Direction - The company is focused on expanding its customer base, having signed a record 35 new customers in Q2 2025, bringing the total to 63 new customers for the year [8][22] - A major new multi-year partnership with AstraZeneca was announced, focusing on AI-driven predictive models for breast cancer treatment [13][34] - The company aims to optimize cloud compute and storage costs while expanding gross margins beyond 2024 levels [45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory, with strong forward-looking indicators such as new business bookings and a robust pipeline [44][48] - The company anticipates that Q4 will be the strongest quarter seasonally, reaffirming full-year revenue guidance of $72 million to $76 million [44] - Management remains focused on achieving adjusted EBITDA breakeven by 2026 and positive adjusted EBITDA by 2027 [42] Other Important Information - The company reported a net dollar retention rate of 107% for the quarter, indicating strong performance in Europe and North America [37] - Total operating expenses for Q2 2025 were $30.8 million, a 19% year-over-year increase primarily due to higher sales and marketing expenses [39][40] - The company has drawn $35 million in debt financing to strengthen its cash position, finishing the quarter with cash and cash equivalents of $94.8 million [43] Q&A Session Summary Question: Can you provide additional details on the AstraZeneca partnership milestones? - Management confirmed that the AstraZeneca deal includes a series of deliverables over several quarters, with confidence in achieving the full value of the contract [52][55] Question: What is the competitive landscape for rare disease applications outside the US? - Management noted that they are seeing strong growth in rare inherited disorders, with a 20% year-over-year increase, and emphasized their competitive positioning in this area [58][61] Question: What prompted the decision to draw the $35 million revolver? - The decision was made to strengthen the cash position in light of accelerating growth across clinical and pharma sides [67][70] Question: What are the adoption trends for MSK Access in the US? - Management reported that liquid biopsy is gaining clinical relevance, with 11 new customers signed for MSK Access in Q2, bringing the total to 50 [72][73] Question: Can you provide insights on the size and structure of the AstraZeneca contract? - Management indicated that the contract includes a mix of base payments and milestone payments, with confidence in recognizing the full value [94][95]

Financial Data and Key Metrics Changes - Net sales for Q2 2025 were approximately $652 million, a 2.1% increase from $638 million in Q2 2024. On a currency-neutral basis, this represents a 1% year-over-year increase, primarily driven by process chromatography products [12][14] - Gross margin for Q2 2025 was reported at 53%, down from 55.6% in Q2 2024. Non-GAAP gross margin was 53.7%, compared to 56.4% in the previous year, attributed to higher material costs and reduced fixed manufacturing absorption [14][15] - Operating income for Q2 2025 was $77 million, or 11.8% of sales, compared to $101 million, or 15.9% of sales in Q2 2024. Non-GAAP operating margin was 13.6%, down from 16.7% [16] Business Line Data and Key Metrics Changes - Life Sciences Group sales increased to $263 million in Q2 2025 from $251 million in Q2 2024, a 4.9% increase on a reported basis and 3.8% on a currency-neutral basis, driven by process chromatography and food safety products [13] - Clinical Diagnostics Group sales were approximately $389 million, essentially flat compared to $388 million in Q2 2024, with a decrease of 0.7% on a currency-neutral basis due to lower diabetes testing reimbursement rates in China [14] Market Data and Key Metrics Changes - The academic market continues to face headwinds due to constrained government funding, although there are signs of stabilization, particularly in consumables [5] - In China, volume-based procurement has not significantly impacted the portfolio, with local reimbursement pressures offset by strength outside of China, resulting in 3.7% growth in the rest of the world markets [8][9] Company Strategy and Development Direction - The company is focusing on expanding its Droplet Digital PCR portfolio with the launch of the QX Continuum platform and the rebranded QX700 Series ddPCR instruments, aimed at providing simplified workflows and flexibility for various budget levels [5][6] - The acquisition of Stila Technologies is expected to enhance the company's capabilities and product offerings in the digital PCR market [5][10] Management's Comments on Operating Environment and Future Outlook - Management noted that while the operating environment remains challenging, there are positive signals regarding NIH funding for 2026, and the company is adapting to the current situation [25] - The company raised its full-year guidance for 2025, expecting total currency-neutral revenue growth to be in the range of flat to 1%, reflecting improved outlooks for consumables and process chromatography [19][20] Other Important Information - The company plans to host a webinar on Droplet Digital PCR and its updated portfolio on August 26, 2025, and will participate in several investor conferences in the fall [101][102] - The company has repurchased a total of 593,508 shares during Q2 2025 for a total cost of $139 million, with $337 million remaining for share repurchases under the current program [18] Q&A Session Summary Question: Insights on Process Chromatography results - Management indicated that the strong results were partly due to customer pull-forward orders, but they expect sustainable growth moving forward [31][32] Question: Contribution of Stila to guidance - The guidance increase includes contributions from Stila, with the ddPCR growth rate moving up to mid-single digits, while organic growth remains stable [34][35] Question: Diagnostics market in China - Management confirmed that while the market remains soft, they have not seen significant impacts from volume-based procurement or reimbursement changes [44][46] Question: Tariff environment management - The company has implemented various countermeasures to manage tariff uncertainties, including supplier flexibility and manufacturing adaptability [51][53] Question: Demand trends in global academic markets - Demand from U.S. federally funded research customers was stable throughout the quarter, with some improvement noted from Q1 [77][92]

Core Insights - Zacks Premium offers various tools to enhance stock market investment confidence and knowledge [1] - The Zacks Style Scores are designed to complement the Zacks Rank, providing additional stock ratings based on value, growth, and momentum [3][4][5][6][7] Zacks Style Scores - Each stock is rated from A to F based on value, growth, and momentum characteristics, with A being the highest score [4] - The Value Score identifies attractive and discounted stocks using ratios like P/E and Price/Sales [4] - The Growth Score focuses on a company's financial strength and future outlook, analyzing projected and historical earnings [5] - The Momentum Score helps investors capitalize on price trends, utilizing factors like price changes and earnings estimate revisions [6] - The VGM Score combines all three Style Scores, providing a comprehensive indicator for stock selection [7] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors, with 1 (Strong Buy) stocks averaging a +23.75% annual return since 1988, outperforming the S&P 500 [8] - There can be over 800 top-rated stocks available, making it essential to use Style Scores for effective selection [9] - To maximize returns, investors should target stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [10] Stock to Watch: Labcorp Holdings - Labcorp Holdings is a leading healthcare diagnostics company, known for its clinical laboratory services and drug development support [12] - Currently rated 3 (Hold) on the Zacks Rank, Labcorp has a VGM Score of A and a Momentum Style Score of A, with shares up 1.5% in the past four weeks [13] - Recent upward revisions in earnings estimates for fiscal 2025 have increased the Zacks Consensus Estimate by $0.22 to $16.27 per share, with an average earnings surprise of +2.5% [13][14]

The webcast will be available at the investor relations section of the Company's website at luciddx.com. Alternatively, to access the conference call by telephone, U.S.-based callers should dial 1-800-836-8184 and international listeners should dial 1-646-357-8785. All listeners should provide the operator with the conference call name "Lucid Diagnostics Business Update" to join. Following the conclusion of the conference call, a replay will be available for 30 days on the investor relations section of the ...

Conference Call A conference call to review second quarter 2025 financial results and to provide a business update is scheduled for today, July 29, 2025 at 8:30 a.m. ET (5:30 a.m. PT). Interested parties may access the conference call by dialing (201) 389-0918 (U.S.) or (877) 407-0890 (international). Additionally, a link to a live webcast of the call will be available in the Investor Relations section of Exagen's website at investors.exagen.com. CARLSBAD, Calif., July 29, 2025 (GLOBE NEWSWIRE) -- Exagen In ...

Financial Performance - Revvity's Q2 2025 revenue reached $720 million, a 4% year-over-year increase[11] - Organic revenue growth was 3%, with a 1% positive impact from foreign exchange[11] - Adjusted operating margin was 266%, a decrease of 210 basis points year-over-year[11] - Adjusted EPS was $118, a 3% decrease year-over-year[11] - Free cash flow was $115 million for the quarter, with a year-to-date total of $234 million[11] Segment Performance - Life Sciences revenue was $366 million, with a 5% reported increase, including 4% organic growth and 1% from FX[13, 14] - Diagnostics revenue was $354 million, with a 3% reported increase, including 2% organic growth and 1% from FX[16, 17] - Life Sciences adjusted operating margin was 316%, a decrease of 220 basis points year-over-year[14] - Diagnostics adjusted operating margin was 252%, a decrease of 180 basis points year-over-year[17] 2025 Financial Guidance - Revvity projects full-year revenue between $284 billion and $288 billion, representing a 3% to 5% reported increase[18]

Market Overview - The global market for Oral Cancer Rapid Test Kits was valued at approximately US$982.9 Million in 2024 and is projected to reach US$1.2 Billion by 2030, reflecting a compound annual growth rate (CAGR) of 2.8% from 2024 to 2030 [2][14]. Market Trends & Drivers - Growth in the oral cancer rapid test kits market is driven by the need for early detection, increasing disease burden in high-risk populations, and advancements in point-of-care diagnostic technologies [3][4]. - Rising awareness among dental professionals and healthcare providers is accelerating the adoption of these tests in primary screening workflows [3]. - Technological advancements in non-invasive biomarker detection and miniaturized device formats are enhancing diagnostic accuracy and user-friendliness [4][8]. - The expansion of oral cancer screening initiatives by governments and NGOs, particularly in tobacco-endemic regions, is sustaining demand for these kits [4][10]. Diagnostic Technologies - Current diagnostic kits utilize techniques such as immunoassays, DNA methylation analysis, and proteomics, with saliva-based biomarker detection enabling non-invasive and repeatable screening [8][9]. - Microfluidics and lab-on-chip formats are supporting the development of user-friendly kits suitable for decentralized deployment [8]. - Integration with electronic health records and remote reporting features is being explored to enhance patient monitoring [9]. Demand and Deployment - Demand for oral cancer rapid test kits is increasing in regions with high disease prevalence, particularly South Asia, parts of Africa, and Latin America, where tobacco chewing and limited access to routine care lead to late-stage diagnoses [10][11]. - In developed markets, these kits are being adopted in dental practices, oncology clinics, and primary care centers as part of preventive health checks, especially for patients with known risk factors [11]. - Workplace wellness programs and mobile health units are integrating rapid oral diagnostics to improve outreach, particularly targeting rural and underserved populations [11]. Key Insights - The report includes a comprehensive analysis of market data, with a focus on annual sales and forecasts from 2024 to 2030, covering key regions such as the U.S., China, and Europe [14][15]. - The Onc Alert Oral Cancer LAB segment is expected to reach US$480.7 Million by 2030, growing at a CAGR of 2.0%, while the Lab on Chip segment is projected to grow at a 3.5% CAGR during the same period [15]. - The U.S. market is estimated at $267.8 Million in 2024, with China forecasted to grow at a 5.1% CAGR to reach $222.8 Million by 2030 [15].

Core Insights - Urteste S.A. has completed the development of its Panuri test for pancreatic cancer detection and plans to initiate clinical studies in Europe in Q3 2025 [1][3] - The Panuri test has achieved high sensitivity (89%) and specificity (75%), with a diagnostic accuracy of 81% based on in vitro results [4] - The company is well-positioned for potential mergers and acquisitions, as large firms in molecular and oncology diagnostics are seeking innovative solutions [3] Company Development - All components of the Panuri test, including buffers, reagents, and controls, have been developed, and the test complies with the IVDR regulations [2] - The test's result-reading process has been automated, enhancing reproducibility and statistical significance [3] - Preliminary internal validation showed even higher diagnostic potential with 89% sensitivity, 87% specificity, and 88% accuracy [5] Market Engagement - Urteste will participate in the ADLM 2025 conference to showcase its diagnostic platform to the global medical community [7] - The company currently holds 12 prototype diagnostic tests for various cancers, addressing nearly 70% of cancer-related deaths worldwide [8] Technology and Methodology - The technology analyzes enzyme activity in urine, correlating changes in absorbance with the presence of certain cancers [8] - The R&D phase involved a statistically representative group, confirming high measurement repeatability with a coefficient of variation below 1% [6]

Core Insights - Veracyte (VCYT) is making significant progress in its long-term growth initiatives, particularly with the NIGHTINGALE study for nasal swabs and the Decipher franchise, which is experiencing strong test volume growth [1][3][8] - The company has a market capitalization of $2.09 billion and has consistently topped earnings estimates, with an average surprise of 507.3% over the past four quarters [2][12] - Despite strong financial health, Veracyte faces challenges from declining Biopharma revenues and macroeconomic pressures [1][10][11] Long-Term Growth Drivers - The NIGHTINGALE study for nasal swab diagnostics has enrolled over 90% of its target 2,400 patients, indicating strong progress [3][4] - The MRD platform has been selected for the UMBRELLA trial, which will include approximately 700 patients and target multiple tumor types, with a planned launch for muscle-invasive bladder cancer in the first half of 2026 [4][6] - International expansion efforts are underway to launch tests as IVDs, further supporting long-term growth [4] Decipher Franchise Strength - Decipher prostate cancer tests delivered over 22,600 tests in Q1 2025, marking a 37% volume increase, and the franchise holds an estimated 65% market share [5][6] - The Decipher platform has been validated by 85 clinical studies, reinforcing its utility in prostate cancer care [5][8] - The franchise is expanding into bladder cancer, addressing nearly 82,000 expected diagnoses annually in the U.S. [6] Financial Position - Veracyte exited Q1 2025 with cash and cash equivalents of $287 million and no current debt, reflecting a strong liquidity position [9] - The current ratio improved to 5.10 from 4.73 in Q4 2024, indicating robust solvency [9] Challenges - The company is experiencing significant declines in Biopharma revenues due to fewer customer projects and longer sales cycles [10] - Macroeconomic challenges, including rising interest rates and inflation, are impacting operations and profit margins [11] - General and administrative expenses rose by 29% and selling and marketing expenses by 2.8% in Q1 2025, indicating cost pressures [11]