QDEL

MKT CAP:$785M

QuidelOrtho Corporation

Market Cap

$785M

Healthcare·Medical - Instruments & Supplies·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$11.90-$16.88 (-58.65%)

Apr 22, 2026

Company Details

QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies across the continuum of healthcare testing needs. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Di...

CEO

Brian J. Blaser

IPO Date

Feb 1, 1991

Website

www.quidelortho.com

Key Metrics TTM

Revenue

$2.7B

-1.9% YoY

Net Income

-$1.1B

EPS (Diluted)

-$16.69

Free Cash Flow

$27M

Revenue / Share

$40.27

Gross Margin

46.7%

Operating Margin

-33.7%

Net Margin

-41.5%

FCF Margin

1.0%

P/S

0.3x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 18, 2026

$2.7B-1.9%EPS -$16.69

Q4 2025

Feb 18, 2026

$724M+2.2%EPS -$1.95

Q3 2025

Nov 5, 2025

$700M-3.7%EPS -$10.78

Q2 2025

Aug 5, 2025

$614M-3.6%EPS -$3.77

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1.0B	$742M	$621M
Q2 22	$613M	$338M	$80M
Q3 22	$784M	$408M	$57M
Q4 22	$867M	$449M	$87M
Q1 23	$846M	$449M	$100M
Q2 23	$665M	$297M	-$27M
Q3 23	$744M	$369M	$26M
Q4 23	$743M	$381M	$40M
Q1 24	$711M	$332M	-$1.8B
Q2 24	$637M	$276M	-$118M
Q3 24	$727M	$352M	$15M
Q4 24	$708M	$326M	-$100M
Q1 25	$693M	$343M	$33M
Q2 25	$614M	$275M	-$181M
Q3 25	$700M	$336M	-$705M
Q4 25	$724M	$320M	-$66M

Valuation

Quarter	P/S	P/E
Q1 22	2.0x	4.6x
Q2 22	1.9x	5.3x
Q3 22	1.6x	6.0x
Q4 22	1.8x	10.5x
Q1 23	1.9x	51.0x
Q2 23	1.8x	123.5x
Q3 23	1.6x	368.5x
Q4 23	1.6x	—
Q1 24	1.1x	—
Q2 24	0.7x	—
Q3 24	1.1x	—
Q4 24	1.1x	—
Q1 25	0.9x	—
Q2 25	0.7x	—
Q3 25	0.7x	—
Q4 25	0.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$501M	$479M
Q2 22	$225M	$198M
Q3 22	-$10M	-$40M
Q4 22	$169M	$108M
Q1 23	$189M	$123M
Q2 23	-$31M	-$82M
Q3 23	$42M	-$2M
Q4 23	$80M	$32M
Q1 24	-$700.0K	-$67M
Q2 24	-$98M	-$133M
Q3 24	$118M	$71M
Q4 24	$64M	$17M
Q1 25	$66M	$76M
Q2 25	-$47M	-$40M
Q3 25	-$46M	-$95M
Q4 25	$132M	$87M

Capital Expenditures

Quarter	CapEx
Q1 22	$22M
Q2 22	$26M
Q3 22	$31M
Q4 22	$62M
Q1 23	$66M
Q2 23	$51M
Q3 23	$43M
Q4 23	$49M
Q1 24	$66M
Q2 24	$35M
Q3 24	$47M
Q4 24	$47M
Q1 25	$10M
Q2 25	$7M
Q3 25	$49M
Q4 25	$45M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+167.0%	+152.5%
Q2 22	+247.3%	+248.1%
Q3 22	+53.7%	+218.9%
Q4 22	+36.1%	+199.8%
Q1 23	-15.6%	+95.6%
Q2 23	+8.4%	+29.7%
Q3 23	-5.1%	-1.3%
Q4 23	-14.3%	-9.9%
Q1 24	-16.0%	+230.7%
Q2 24	-4.2%	+9.0%
Q3 24	-2.3%	-0.8%
Q4 24	-4.7%	+15.0%
Q1 25	-2.6%	-73.3%
Q2 25	-3.6%	+5.3%
Q3 25	-3.7%	+97.3%
Q4 25	+2.2%	-2.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$7M	0.7%
Q2 22	$16M	2.6%
Q3 22	$13M	1.7%
Q4 22	$12M	—
Q1 23	$11M	1.3%
Q2 23	$14M	2.1%
Q3 23	$14M	1.9%
Q4 23	$12M	1.7%
Q1 24	$9M	1.3%
Q2 24	$11M	1.8%
Q3 24	$12M	1.7%
Q4 24	$10M	1.4%
Q1 25	$12M	1.7%
Q2 25	$13M	2.1%
Q3 25	$11M	1.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$26M	—	—	$85M
Q2 22	$34M	—	—	$118M
Q3 22	$66M	—	—	$204M
Q4 22	$64M	—	—	$214M
Q1 23	$62M	—	—	$202M
Q2 23	$62M	—	—	$179M
Q3 23	$62M	—	—	$194M
Q4 23	$59M	—	—	$188M
Q1 24	$59M	—	—	$205M
Q2 24	$56M	—	—	$188M
Q3 24	$56M	—	—	$186M
Q4 24	$47M	$181M	$6M	—
Q1 25	$53M	—	—	$187M
Q2 25	$46M	—	—	$178M
Q3 25	$42M	—	—	$187M
Q4 25	$46M	—	—	$194M

Revenue Segments

Quarter	Cardiac Immunoassay	Molecular Diagnostic Solutions	Rapid Immunoassay	Specialized Diagnostic Solutions
Q1 22	$50M	$46M	$893M	$13M

Revenue by Geography

Quarter	China	EMEA Segment	North America Segment	Other
Q2 22	$74M	$42M	$438M	$60M
Q3 22	$81M	$74M	$518M	$112M
Q1 23	$71M	$81M	$583M	$111M
Q2 23	$81M	$81M	$379M	$124M
Q3 23	$81M	$75M	$465M	$123M
Q1 24	$76M	$85M	$434M	$116M
Q2 24	$82M	$81M	$350M	$124M
Q3 24	$80M	$84M	$436M	$127M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.3B	$44M	$1.3B
Q2 22	$379M	$53M	$432M
Q3 22	$212M	$52M	$264M
Q4 22	$293M	$52M	$345M
Q1 23	$354M	$43M	$397M
Q2 23	$179M	$45M	$224M
Q3 23	$149M	$44M	$193M
Q4 23	$119M	$48M	$167M
Q1 24	$79M	$0	$79M
Q2 24	$107M	$0	$107M
Q3 24	$144M	$0	$144M
Q4 24	$98M	$0	$98M
Q1 25	$127M	$0	$127M
Q2 25	$152M	$0	$152M
Q3 25	$98M	$0	$98M
Q4 25	$170M	$32M	$202M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	42M	-0.2%	-2.6%
Q2 22	53M	+24.8%	+24.6%
Q3 22	68M	+27.6%	+58.8%
Q4 22	67M	-0.9%	+57.4%
Q1 23	67M	+0.3%	+58.3%
Q2 23	67M	-0.4%	+26.3%
Q3 23	67M	+0.1%	-0.9%
Q4 23	67M	+0.6%	+0.6%
Q1 24	67M	-0.6%	-0.3%
Q2 24	67M	+0.3%	+0.4%
Q3 24	67M	+0.3%	+0.6%
Q4 24	67M	-0.1%	-0.1%
Q1 25	68M	+0.4%	+0.9%
Q2 25	68M	+0.3%	+0.9%
Q3 25	68M	+0.4%	+1.0%
Q4 25	68M	-0.3%	+0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	$120.9K	7K
Q2 23	$95.0K	7K
Q3 23	$106.3K	7K
Q4 23	$104.6K	7K
Q1 24	$100.1K	7K
Q2 24	$89.7K	7K
Q3 24	$102.4K	7K
Q4 24	$107.2K	7K
Q1 25	$105.0K	7K
Q2 25	$93.0K	7K
Q3 25	$106.0K	7K
Q4 25	$111.3K	7K

Revenue / Employee