QuidelOrtho (NASDAQ: QDEL) guides Q1 revenue $615–620M with negative free cash flow
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
QuidelOrtho Corporation released preliminary unaudited results showing first quarter 2026 revenue of $615–$620 million, reflecting a weaker respiratory season, slower distributor sales in China tied to proposed reimbursement cuts, and EMEA order delays related to the Middle East conflict.
The company expects first quarter 2026 free cash flow of $(65) to $(70) million and continues to anticipate positive free cash flow for full-year 2026. Management believes the low end of its previously issued full-year 2026 financial guidance remains achievable and plans to discuss this outlook with full results on May 5, 2026.
Positive
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Negative
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Insights
QuidelOrtho pre-announces softer Q1 revenue and negative free cash flow but maintains the low end of 2026 guidance.
QuidelOrtho expects first quarter 2026 revenue of $615–$620 million, pressured by a weaker respiratory season, slower China distributor sales linked to proposed NHSA reimbursement cuts, and EMEA order delays from the 2026 Middle East conflict.
The company projects first quarter 2026 free cash flow of $(65) to $(70) million and still anticipates positive free cash flow for full-year 2026. Management states that, based on current information, the low end of its full-year 2026 financial guidance remains achievable, while noting that assumptions do not include a significant prolonged China reimbursement impact or continued Middle East disruption.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Preliminary Q1 2026 revenue: $615–$620 million
Q1 2026 free cash flow: $(65) to $(70) million
U.S. ILI visit decline: approximately 30%
+2 more
5 metrics
Preliminary Q1 2026 revenue
$615–$620 million
Preliminary unaudited revenue range for quarter ended March 29, 2026
Q1 2026 free cash flow
$(65) to $(70) million
Expected free cash flow for first quarter 2026
U.S. ILI visit decline
approximately 30%
U.S. Influenza-like Illness visits vs. first quarter 2025
Core business share of revenue
more than 70%
Core business portion of total company revenue
Q1 2026 earnings call time
2:00 p.m. PT / 5:00 p.m. ET
Conference call on May 5, 2026 to discuss results
Key Terms
preliminary unaudited revenue, free cash flow, financial guidance, reimbursement rate reductions, +2 more
6 terms
preliminary unaudited revenue financial
"announced preliminary unaudited revenue for the first quarter of 2026"
free cash flow financial
"expects free cash flow to be in the range of $(65) to $(70) million"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
financial guidance financial
"provided an update on its full-year 2026 financial guidance"
Financial guidance is the information that a company provides about its expected future financial performance, such as sales, profits, or expenses. It helps investors understand what the company aims to achieve and plan their decisions accordingly, much like a forecast or a roadmap that indicates the company's future direction. This guidance influences investor confidence and decision-making, as it offers insight into the company's outlook and growth expectations.
reimbursement rate reductions regulatory
"slower China distributor sales that the Company believes is related to the proposed China NHSA reimbursement rate reductions"
Middle East conflict other
"certain EMEA orders were delayed by the Middle East conflict, negatively impacting first quarter revenue"
forward-looking statements regulatory
"This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Earnings Snapshot
Preliminary revenue: $615–$620 million · Guidance included
Q1 2026
Preliminary revenue
$615–$620 million
Guidance
Based on current information, the company believes the low end of its full-year 2026 financial guidance remains achievable.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 15, 2026
(Exact name of Registrant as specified in its Charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code)
(858 ) 552-1100
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |||||
| Emerging growth company | |||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | ||||
Item 2.02 Results of Operations and Financial Condition.
On April 15, 2026, QuidelOrtho Corporation (“QuidelOrtho”) issued a press release announcing its preliminary unaudited revenue for its first quarter of 2026, ended March 29, 2026. A copy of the press release is furnished with this Current Report on Form 8-K (“Form 8-K”) as Exhibit 99.1.
The information in this Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is furnished with this Form 8-K:
| Exhibit Number | Description of Exhibit | |||||||||||||
| 99.1 | Press Release issued by QuidelOrtho Corporation dated April 15, 2026. | |||||||||||||
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL Document. | |||||||||||||
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The financial information set forth in this Form 8-K reflects QuidelOrtho’s current preliminary revenue estimates, and is subject to adjustments based on QuidelOrtho’s completion of its quarter-end financial close process. QuidelOrtho’s actual first quarter 2026 results may differ significantly from the preliminary estimates provided in this Form 8-K. You should not rely on these preliminary estimates as predictions of actual results because these estimates are based on assumptions that may not come true and are speculative by their nature. QuidelOrtho has no obligation to update any of the forward-looking information included in this Form 8-K, whether as a result of new information, future events, changed expectations or otherwise, except as required by law. All forward-looking statements are based on information currently available to QuidelOrtho and speak only as of the date hereof.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 15, 2026
| QUIDELORTHO CORPORATION | ||||||||
| By: | /s/ Joseph M. Busky | |||||||
| Name: | Joseph M. Busky | |||||||
| Its: | Chief Financial Officer | |||||||
Exhibit 99.1
QuidelOrtho Announces Preliminary Revenue for the First Quarter 2026 and Provides Update on Full-Year 2026 Guidance
April 15, 2026
SAN DIEGO, CA — 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.
First Quarter 2026 Earnings Conference Call
Following the release of financial results on May 5, 2026, QuidelOrtho will hold a conference call beginning at 2:00 p.m. PT / 5:00 p.m. ET to discuss its financial results. Interested parties can
1 As reported by the Centers for Disease Control and Prevention, April 3, 2026.
access the call from the “Events & Presentations” section of the “Investor Relations” page of the Company’s website at https://ir.quidelortho.com. Presentation materials will also be posted to the “Events & Presentations” section of the “Investor Relations” page of the Company’s website at the time of the call. A replay of the conference call will be available shortly after the event on the “Investor Relations” page of the Company’s website under the “Events & Presentations” section.
QuidelOrtho is dedicated to advancing diagnostics to power a healthier future. For more information, please visit quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and X.
About QuidelOrtho Corporation
With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.
Forward-looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herein that is not strictly historical, including, but not limited to, QuidelOrtho's expected revenue and free cash flow for the first quarter 2026, commercial and other strategic goals, financial guidance and related assumptions and other future financial condition and operating results, including expected results of operations, financial position or cost-savings and operational improvement initiatives, and other future plans, objectives, strategies, expectations and intentions. Without limiting the foregoing, the words “may,” “will,” “could,” “would,” “should,” “might,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “goal,” “project,” “strategy,” “future,” “continue,” “aim,” “strive,” “seek” or similar words, expressions or the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Such statements are based on the beliefs and expectations of QuidelOrtho's management as of the date of this press release and are subject to significant known and unknown risks and uncertainties. Actual results or outcomes may differ significantly from those set forth or implied in the forward-looking statements. The following factors, among others, could cause actual results or outcomes to differ from those set forth or implied in the forward-looking statements: fluctuations in demand for QuidelOrtho's non-respiratory and respiratory products; supply chain, production, logistics, distribution and labor disruptions and challenges, including disruptions and challenges related to the 2026 Middle East conflict; failure to acquire or complete the proposed acquisition of LEX Diagnostics on the anticipated timeline, or at all, including risks and uncertainties related to LEX Diagnostics' ability to satisfy closing conditions and provisions; inability to successfully identify, consummate or realize the anticipated benefits of strategic transactions, strategic restructurings, divestitures, spin-offs or discontinuances of certain business operations, or debt financings, on the anticipated timelines, or at all; delays in the development of or failures or delays in the receipt of approvals for new or enhanced products; failure of new products and services to be commercially viable or accepted; changes in reimbursement rates for QuidelOrtho’s products, including reimbursement rate reductions proposed by the China NHSA; and other macroeconomic, geopolitical, market, business, competitive and/or regulatory factors affecting the business of QuidelOrtho generally, including those arising from the effects of announced or future or amended tariffs, trade policies, investigations and global trade relations, as well as those discussed in QuidelOrtho's Annual Report on Form 10-K for the fiscal year ended December 28, 2025 and subsequent reports filed with the Securities and Exchange Commission, including under Part I, Item 1A, “Risk Factors” of the Form 10-K. You should not rely on forward-looking statements as predictions of future events because these statements are based on assumptions that may not come true and are speculative by their nature. All forward-looking statements are based on information currently available to QuidelOrtho and speak only as of the date of this press release. QuidelOrtho undertakes no obligation to update any of the forward-looking information or time-sensitive information included in this press release, whether as a result of new information, future events, changed expectations or otherwise, except as required by law.
Investor Contact:
Juliet Cunningham
Vice President, Investor Relations
IR@QuidelOrtho.com
Media Contact:
D. Nikki Wheeler
Senior Director, Corporate Communications
media@QuidelOrtho.com
FAQ
What preliminary revenue did QuidelOrtho (QDEL) report for Q1 2026?
QuidelOrtho expects preliminary unaudited first quarter 2026 revenue of $615–$620 million. This range reflects softer respiratory testing demand, slower China distributor sales tied to proposed reimbursement cuts, and EMEA order delays related to the Middle East conflict.
Why was QuidelOrtho’s Q1 2026 revenue impacted by a weaker respiratory season?
QuidelOrtho’s Q1 2026 revenue was pressured by a weaker respiratory season, with U.S. Influenza-like Illness visits down about 30% versus Q1 2025. This significantly reduced respiratory testing demand, a key driver for the company’s diagnostics portfolio.
What free cash flow does QuidelOrtho (QDEL) expect for Q1 2026?
QuidelOrtho currently expects first quarter 2026 free cash flow between $(65) and $(70) million. The company also reiterated that it continues to expect positive free cash flow for full-year 2026 despite the anticipated negative free cash flow in the first half.
Did QuidelOrtho change its full-year 2026 financial guidance?
QuidelOrtho stated that, based on current information, the low end of its full-year 2026 financial guidance remains achievable. The original ranges were intentionally broad to reflect respiratory season variability and do not assume prolonged China or Middle East disruptions.
When will QuidelOrtho release full Q1 2026 results and hold its earnings call?
QuidelOrtho plans to release full first quarter 2026 financial results on May 5, 2026, after the market closes. The company will host a conference call that day at 2:00 p.m. PT / 5:00 p.m. ET, with materials and a replay available on its investor website.
How important is QuidelOrtho’s core business within total revenue?
QuidelOrtho stated that its core business represents more than 70% of total revenue. Management described this core business as remaining strong, providing a solid foundation for operational execution, margin expansion, cash flow improvement, and long-term growth initiatives.