QuidelOrtho Corp

quidelortho.com

What Do They Do?

Sells diagnostic instruments and tests to hospitals and laboratories, clinics and physician offices, and consumers buying at-home tests.

How Do They Make Money?

The company earns most revenue from diagnostic product sales, counted when goods ship or are delivered. Some customers pay for service contracts in advance, with the company earning those fees as service is provided.

revenue

Segment	Share	How money arrives
North America Sold outright	55% FY2022: 78%	Sold outright
EMEA Sold outright	13% FY2022: 6.3%	Sold outright
China Sold outright	12% FY2022: 6.7%	Sold outright
JPAC Sold outright	11%	Sold outright
Latin America Sold outright	9.3%	Sold outright

Who Are Their Customers?

Healthcare sites, blood and plasma centers, and retail buyers are customers. The company sells directly to end users, while distributors also reach point-of-care accounts in North America and work alongside direct sales in emerging markets.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2023: no customer at 10% or more of revenue

Do Revenues Turn Into Profits?

No. It lost $1.1B in FY2025.

Operating income, FY2025

−34% of revenue

▼ −53% (Loss) vs FY2024 (−$2B, −70%)

Net income, FY2025

−41% of revenue

▼ −45% (Loss) vs FY2024 (−$2.1B, −74%)

Free cash flow, FY2025

−3% of revenue

▼ −26% (Loss) vs FY2024 (−$112.1M, −4%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 28, 2026

Revenue: ▲ +3%; vs $613.9M in Q2 FY2025
Net income: ▼ −64% (Loss); vs −$255.4M in Q2 FY2025

North America share of revenue vs 50.6% in Q2 FY2025

Aug 6, 2026 Reduced full-year financial guidance and withdrew free cash flow guidance Revenue, adjusted EBITDA and adjusted EPS ranges were reduced; free cash flow guidance was withdrawn.
Jun 23, 2026 Appointed Micah Young as CFO Young will succeed Joseph M. Busky, who announced his retirement and will advise during the transition.

SAVANNA development The older report lists Savanna among its diagnostic brands; the latest report says the company plans to discontinue development of the SAVANNA platform.

Revenue over time

North America EMEA China JPAC Latin America Other

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Abbott Laboratories, bioMérieux, Bio-Rad, Danaher, Diasorin, Hologic, Qiagen, Revvity, Roche, Siemens Healthineers, Thermo Fisher Scientific, Waters, and Wermerson Immuncor

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