QuidelOrtho Announces Preliminary Revenue for the First Quarter 2026 and Provides Update on Full-Year 2026 Guidance

Original from: QuidelOrtho

QuidelOrtho Corporation (Nasdaq: QDEL) (the "Company" or "QuidelOrtho"), a global leader of in vitro diagnostics, today announced preliminary unaudited revenue for the first quarter of 2026, ended March 29, 2026, and provided an update on its full-year 2026 financial guidance. The Company also announced its plan to release its full first quarter 2026 financial results on Tuesday, May 5, 2026, after the market closes.

Preliminary Unaudited First Quarter 2026 Revenue

The Company currently expects preliminary unaudited revenue, as reported, of $615-$620 million for the first quarter of 2026. This preliminary unaudited revenue was primarily driven by a weaker respiratory season, with U.S. Influenza-like Illness visits down by approximately 30% compared to the first quarter of 20251, along with slower China distributor sales that the Company believes is related to the proposed China National Health Security Administration ("NHSA") reimbursement rate reductions. Additionally, certain EMEA orders were delayed by the Middle East conflict, negatively impacting first quarter revenue.

"Despite macroeconomic challenges and a softer first quarter respiratory season, QuidelOrtho is taking decisive cost actions to drive full-year 2026 performance," said Brian J. Blaser, President and Chief Executive Officer, QuidelOrtho. "Our core business―representing more than 70% of total revenue―remains strong, providing a solid foundation amid near-term volatility. We remain focused on operational execution, margin expansion, cash flow improvement, and advancing our innovation pipeline to support durable long-term growth."

The preliminary unaudited revenue described herein is based on management's preliminary analysis for the first quarter of 2026 and is subject to adjustments based on the Company's completion of its quarter-end financial close process.

As discussed in the Company's fourth quarter and full-year 2025 conference call in February 2026, the Company expects free cash flow to be negative for the first half of 2026. The Company currently expects free cash flow to be in the range of $(65) to $(70) million in the first quarter of 2026. The Company continues to expect free cash flow to be positive for the full-year 2026.

Full-year 2026 Financial Guidance 

Based on current information, the Company believes the low end of its full-year 2026 financial guidance (issued February 11, 2026) remains achievable. The ranges provided by the Company were intentionally broad to reflect variability in the respiratory season and other factors, and do not assume a significant, prolonged impact from China NHSA reimbursement initiatives or continued disruption related to the Middle East conflict. The Company plans to discuss its full-year 2026 financial guidance on its May 5, 2026 earnings conference call.

Source: QuidelOrtho Announces Preliminary Revenue for the First Quarter 2026 and Provides Update on Full-Year 2026 Guidance