QuidelOrtho Q4 Revenue $724M, Guides $120–160M Free Cash Flow for FY26
QuidelOrtho posted Q4 revenue of $724 million, with labs sales up 8%, non-respiratory up 7% cc, adjusted EBITDA margin of 21% and free cash flow of $87 million. Full-year 2025 revenue hit $2.73 billion with adjusted EBITDA of $597 million, EPS of $2.12 and FY26 revenue guided to $2.7–2.9 billion with $120–160 million free cash flow.
1. Q4 2025 Results
QuidelOrtho reported fourth-quarter revenue of $724 million, driven by labs sales up 8% and non-respiratory revenue of $600 million (+7% cc). Respiratory revenue declined 14% to $123 million. GAAP operating cash flow was $132 million, free cash flow reached $87 million, and adjusted EBITDA was $153 million (21% margin) with EPS of $0.46.
2. Full-Year 2025 Financials
For the full year, revenue reached $2.73 billion, with non-respiratory sales of $2.33 billion up 5% cc and labs up 6%. Respiratory sales fell 20% to $402 million. GAAP net loss was $1.13 billion including a $701 million goodwill impairment; adjusted EBITDA was $597 million (22% margin) and adjusted EPS was $2.12. Free cash flow was negative $77 million due to ERP investments.
3. FY26 Guidance and CFO Transition
The company forecasts 2026 revenue of $2.7–2.9 billion, adjusted EBITDA of $630–670 million (23.3% margin), adjusted EPS of $2.00–2.42 and free cash flow of $120–160 million. CFO Joseph M. Busky will retire June 30, 2026, and will assist during the succession process.