QDEL FY 2022 Earnings Report — QuidelOrtho Corporation Revenue & Financial Results | Market Cap Arena

QuidelOrtho CorporationQDEL

FY 2022 Earnings

Reported February 23, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$3.3B	—	$1.7B	—	92.3%
Op. Income	$844M	—	$906M	—	-6.9%
Gross Margin	59.3%	—	75.3%	—	-16.0pp
Net Margin	16.8%	—	41.5%	—	-24.7pp
EPS (Diluted)	$9.56	—	$16.43	—	-41.8%
Free Cash Flow	$744M	—	$513M	—	45.1%

Revenue Flow

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.3B
GROSS PROFIT	$1.9B
R&D Expenses	$188M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$621M
Other Expenses	$284M
Operating Expenses	$1.1B
Cost & Expenses	$2.4B
OPERATING INCOME	$844M
Interest Income	$1M
Interest Expense	$75M
Other Income/Expenses	-$108M
INCOME BEFORE TAX	$736M
Income Tax Expense	$187M
Net Income from Continuing Ops	$549M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$549M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$549M
D&A	$284M
EBIT	$810M
EBITDA	$1.1B
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.3B
GROSS PROFIT	$1.9B
R&D Expenses	$188M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$621M
Other Expenses	$284M
Operating Expenses	$1.1B
Cost & Expenses	$2.4B
OPERATING INCOME	$844M
Interest Income	$1M
Interest Expense	$75M
Other Income/Expenses	-$108M
INCOME BEFORE TAX	$736M
Income Tax Expense	$187M
Net Income from Continuing Ops	$549M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$549M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$549M
D&A	$284M
EBIT	$810M
EBITDA	$1.1B
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$549M
Depreciation & Amortization	$284M
Stock-Based Compensation	$48M
Deferred Income Tax	$0
Other Non-Cash Items	$58M
Change in Working Capital	-$53M
OPERATING CASH FLOW	$885M
Capital Expenditure	-$141M
Acquisitions (Net)	-$1.5B
Purchases of Investments	-$64M
Sales/Maturities of Investments	$53M
Other Investing Activities	$18M
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	$346M
Common Stock Repurchased	-$74M
Common Dividends Paid	$0
Other Financing Activities	-$46M
NET CASH FROM FINANCING	$252M
FREE CASH FLOW	$744M
Net Change in Cash	-$509M

Balance Sheet

Item	Amount
Cash & Equivalents	$293M
Short-Term Investments	$52M
Net Receivables	$586M
Inventory	$524M
Other Current Assets	$23M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$1.5B
Goodwill	$2.5B
Intangible Assets	$3.1B
Long-Term Investments	$21M
Tax Assets	$16M
Other Non-Current Assets	$123M
TOTAL NON-CURRENT ASSETS	$7.3B
TOTAL ASSETS	$8.9B
Account Payables	$283M
Short-Term Debt	$208M
Deferred Revenue	$76M
Other Current Liabilities	$156M
TOTAL CURRENT LIABILITIES	$1.0B
Long-Term Debt	$2.4B
Deferred Revenue NC	$9M
Deferred Tax Liabilities	$213M
Other Non-Current Liabilities	$74M
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$3.9B
Common Stock	$0
Additional Paid-In Capital	$2.8B
Retained Earnings	$2.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$68M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.9B
Minority Interest	$0
TOTAL EQUITY	$4.9B
TOTAL LIABILITIES & EQUITY	$8.9B
Total Debt	$2.8B
Net Debt	$2.6B