Original from: QuidelOrtho
QuidelOrtho Corporation (Nasdaq: QDEL) (the "Company" or "QuidelOrtho"), a leading global provider of diagnostic solutions, today announced financial results for the second quarter ended June 28, 2026.
Key Second Quarter 2026 Results:
(all comparisons are to the prior year period)
- Total revenue was $631 million, an increase of 3% as reported and 2% in constant currency. Excluding China, total revenue grew 6% both as reported and in constant currency.
· Labs revenue of $383 million grew by 4% as reported and 2% in constant currency. Growth was driven by continued strength across the core business and partially offset by slower sales in China, which the Company believes is primarily related to recently announced changes to In Vitro Diagnostics pricing. Outside of China, Labs revenue grew 9% both as reported and in constant currency.
· Immunohematology revenue of $134 million grew 1% both as reported and in constant currency. Outside of China, Immunohematology revenue grew 5% both as reported and in constant currency.
· Point of Care revenue of $108 million grew 16% both as reported and in constant currency, including Triage revenue growth of 10% as reported and 9% in constant currency.
- GAAP net loss was $93 million; GAAP operating loss was $22 million; adjusted EBITDA was $129 million.
- GAAP net loss margin was 14.7%; GAAP operating loss margin was 3.5%; adjusted EBITDA margin was 20.5%, an improvement of 310 basis points.
- GAAP diluted loss per share was $1.36; adjusted diluted earnings per share ("EPS") was $0.13.
"Our second quarter performance demonstrated QuidelOrtho's underlying strength and the benefits of our diversified portfolio, with solid results across our core franchises and regions, with the exception of China. Demand headwinds in China related to the proposed IVD pricing guidelines and a softer global respiratory environment are continuing to impact our business," said Brian J. Blaser, President and Chief Executive Officer of QuidelOrtho. "As a result, we are revising our full-year 2026 revenue and earnings guidance to reflect these evolving market dynamics. In addition, we have decided to withdraw free cash flow guidance as we work through the associated impacts on working capital and our mitigation efforts. This decision does not change our commitment to improving cash conversion, which remains our top priority. We remain focused on serving our customers, executing our strategy, strengthening our balance sheet, and building a stronger, more resilient QuidelOrtho."
Full-year 2026 Financial Guidance
Based on its current business outlook, the Company is updating its full-year financial guidance below:
Source: QuidelOrtho Reports Second Quarter 2026 Financial Results
