QDEL FY 2021 Earnings Report — QuidelOrtho Corporation Revenue & Financial Results | Market Cap Arena

QuidelOrtho CorporationQDEL

FY 2021 Earnings

Reported December 31, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.7B	—	2.2%
Op. Income	$906M	—	$1.1B	—	-14.6%
Gross Margin	75.3%	—	81.2%	—	-5.9pp
Net Margin	41.5%	—	48.8%	—	-7.3pp
EPS (Diluted)	$16.43	—	$18.60	—	-11.7%
Free Cash Flow	$513M	—	$565M	—	-9.2%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$420M
GROSS PROFIT	$1.3B
R&D Expenses	$96M
Selling & Marketing	$14M
General & Administrative	$226M
SG&A Expenses	$240M
Other Expenses	$37M
Operating Expenses	$372M
Cost & Expenses	$793M
OPERATING INCOME	$906M
Interest Income	$300.0K
Interest Expense	$700.0K
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$900M
Income Tax Expense	$196M
Net Income from Continuing Ops	$704M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$704M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$704M
D&A	$53M
EBIT	$901M
EBITDA	$953M
EPS	$17
EPS Diluted	$16

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$420M
GROSS PROFIT	$1.3B
R&D Expenses	$96M
Selling & Marketing	$14M
General & Administrative	$226M
SG&A Expenses	$240M
Other Expenses	$37M
Operating Expenses	$372M
Cost & Expenses	$793M
OPERATING INCOME	$906M
Interest Income	$300.0K
Interest Expense	$700.0K
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$900M
Income Tax Expense	$196M
Net Income from Continuing Ops	$704M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$704M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$704M
D&A	$53M
EBIT	$901M
EBITDA	$953M
EPS	$17
EPS Diluted	$16

Cash Flow Statement

Item	Amount
Net Income	$704M
Depreciation & Amortization	$54M
Stock-Based Compensation	$25M
Deferred Income Tax	$25M
Other Non-Cash Items	-$34.0K
Change in Working Capital	-$3M
OPERATING CASH FLOW	$806M
Capital Expenditure	-$293M
Acquisitions (Net)	$0
Purchases of Investments	-$67M
Sales/Maturities of Investments	$4M
Other Investing Activities	$37M
NET CASH FROM INVESTING	-$320M
Net Debt Issuance	-$300.0K
Common Stock Repurchased	-$103M
Common Dividends Paid	$0
Other Financing Activities	-$77M
NET CASH FROM FINANCING	-$173M
FREE CASH FLOW	$513M
Net Change in Cash	$313M

Balance Sheet

Item	Amount
Cash & Equivalents	$803M
Short-Term Investments	$26M
Net Receivables	$394M
Inventory	$199M
Other Current Assets	$5M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$477M
Goodwill	$337M
Intangible Assets	$99M
Long-Term Investments	$38M
Tax Assets	$20M
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$990M
TOTAL ASSETS	$2.4B
Account Payables	$102M
Short-Term Debt	$300.0K
Deferred Revenue	$2M
Other Current Liabilities	$66M
TOTAL CURRENT LIABILITIES	$324M
Long-Term Debt	$400.0K
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$49M
TOTAL NON-CURRENT LIABILITIES	$178M
TOTAL LIABILITIES	$501M
Common Stock	$0
Additional Paid-In Capital	$280M
Retained Earnings	$1.6B
Treasury Stock	$0
Accum. Other Comp. Income	$400.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$139M
Net Debt	-$664M