Quarterly ResultMay 5, 2026, 04:14 PM
QuidelOrtho Q1 Revenue $620M, Net Loss $92M; Updates 2026 Guidance
AI Summary
QuidelOrtho reported Q1 2026 total revenue of $620 million and a GAAP net loss of $92 million, reflecting a significantly weaker respiratory season and business disruptions in China and the Middle East. The company updated its full-year 2026 financial guidance, lowering revenue, adjusted EBITDA, adjusted diluted EPS, and free cash flow expectations due to Q1 performance and current market dynamics in China. Strategic advancements include the acquisition of LEX Diagnostics and key product launches, which are expected to drive future growth.
Key Highlights
- Completed LEX Diagnostics acquisition, adding an ultra-fast molecular diagnostics platform.
- Q1 2026 total revenue was $620 million, a 10.5% decline YoY.
- Q1 2026 GAAP net loss was $92 million, compared to $12.7 million loss in Q1 2025.
- Q1 Point of Care revenue declined 34% to $113 million due to weaker respiratory season.
- Q1 Labs revenue declined 5% to $353 million, impacted by China and Middle East.
- Q1 Immunohematology revenue grew 8% to $138 million, driven by North America, China, JPAC.
- Updated full-year 2026 revenue guidance to $2.70-$2.75 billion (previously $2.7-$2.9 billion).
- Updated full-year 2026 adjusted EBITDA guidance to $615-$630 million (previously $630-$670 million).