Core Insights - QuidelOrtho Corporation reported a transition from COVID-driven volatility to a more stable and diversified diagnostics business in 2025, with expectations for continued growth and margin expansion in 2026 [1][2] Financial Performance Fourth Quarter 2025 Results - Total revenue reached $724 million, with non-respiratory revenue at $600 million, reflecting a 7% growth in constant currency [1] - Labs revenue grew by 8% as reported and 7% in constant currency, while respiratory revenue declined by 14% to $123 million due to lower COVID-19 testing [1][4] - Flu revenue increased by 6% both as reported and in constant currency [1] Full-Year 2025 Results - Total revenue for the year was $2.73 billion, with non-respiratory revenue at $2.33 billion, marking a 5% growth in constant currency when excluding Donor Screening [1][4] - Respiratory revenue was $402 million, down 20% from the previous year due to reduced COVID-19 testing [1] - Flu revenue grew by 3% both as reported and in constant currency [1] Financial Guidance for 2026 - The company anticipates total revenues between $2.7 billion and $2.9 billion for FY 2026, with adjusted EBITDA projected between $630 million and $670 million [1] - Adjusted EBITDA margin is expected to improve to 23.3%, with adjusted diluted EPS guidance set between $2.00 and $2.42 [1] Cost Management and Cash Flow - Cost-saving initiatives contributed to a significant margin expansion, with free cash flow expected to improve by over $200 million in 2026 [1] - The company reported a net loss of $130.7 million for Q4 2025, with a basic loss per share of $1.92 [3][4] Leadership Transition - Joseph M. Busky, the Chief Financial Officer, announced his retirement effective June 30, 2026, with plans for a smooth transition [1][2] Business Segments Performance - Labs revenue for FY 2025 was $1.51 billion, reflecting a 5.5% increase from the previous year [4] - Immunohematology revenue grew by 4.2% to $543.8 million, while Donor Screening revenue saw a significant decline of 54.3% [4]