Ortho Clinical Diagnostics Holdings plc

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2022 10-Q, filed May 10, 2022. Its latest SEC filing is a 15-12B from Jun 6, 2022.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Sells diagnostic instruments, tests and consumables to clinical laboratories and hospitals, and to blood and plasma centers.

How Did They Make Money?

Customers pay for instruments after installation and acceptance, and for assays, reagents and other consumables when they ship or are delivered. Service contracts and operating leases bring in revenue over time.

FY2022 revenue

Who Were Their Customers?

Hospitals, laboratories, and blood and plasma centers buy diagnostic instruments and assays; customers in North America and Western Europe are served primarily through direct sales, while emerging markets generally use third-party distributors.

Did Revenues Turn Into Profits?

Not on paper. It lost $54.3M in FY2022, but brought in more cash than it spent: $228.2M of free cash flow.

Operating income, FY2022

9% of revenue

▲ +97% vs FY2021 ($88.3M, 5%)

Net income, FY2022

−3% of revenue

▼ −74% (Loss) vs FY2021 (−$211.9M, −12%)

Free cash flow, FY2022

11% of revenue

▲ +11310% vs FY2021 ($2M, 0%)

How Were They Changing?

Since the FY2022 annual report

Latest quarter: Q1 FY2022, the three months to Apr 3, 2022

Revenue: ▼ −1%; vs $506.8M in Q1 FY2021
Net income: ▲ Now profitable; vs −$39.1M in Q1 FY2021

May 27, 2022 Quidel and Ortho completed their combination The transaction formed QuidelOrtho.

Grew. Revenue grew 13% in 3 years, from $1.8B in FY2020 to $2B in FY2022, about 4% a year.

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