Quidel SEC Filings

QuidelOrtho Corporation reported weaker Q1 2026 results, with an 11% revenue decline to $619.8 million and a much larger net loss of $91.8 million, or $1.35 per share. Revenue fell mainly in U.S. respiratory testing and Donor Screening, and from terminating a Joint Business with Grifols.

Cost of sales rose to 57.4% of revenue, and higher selling, marketing and administrative expenses and interest costs contributed to an operating loss of $31.8 million and loss before income taxes of $79.5 million. Operating cash flow swung from a $65.6 million inflow in Q1 2025 to a $33.0 million outflow.

The company ended the quarter with $140.4 million in cash and $2.69 billion of total borrowings, and remained in compliance with credit covenants. It is executing a multi‑year Optimization Plan targeting about $50 million of net savings by 2027 and is winding down its U.S. donor screening portfolio. After quarter‑end, QuidelOrtho agreed to acquire LEX Diagnostics for about $100 million in cash plus up to $35 million in earn‑outs.

QuidelOrtho Corporation reported weaker first quarter 2026 results with lower revenue, higher losses and reduced full-year guidance. Total revenue was $619.8 million, down 10.5% from $692.8 million a year earlier. Point of Care revenue fell 34% to $112.8 million, mainly from a weaker respiratory season, while Labs revenue declined 5.3% to $353.1 million amid slower China distributor sales, Middle East disruption and the end of a Grifols arrangement. Immunohematology grew 7.6% to $138.3 million.

GAAP net loss widened to $91.8 million from $12.7 million, with GAAP diluted loss per share of $1.35 versus $0.19. Adjusted EBITDA fell to $108.7 million from $159.8 million, and adjusted EBITDA margin declined to 17.5% from 23.1%.

For full-year 2026, the company now expects total revenue of $2.70–$2.75 billion, adjusted EBITDA of $615–$630 million, adjusted diluted EPS of $1.80–$2.00 and free cash flow of $100–$120 million, all lower than prior guidance. Management highlighted the April acquisition of LEX Diagnostics and new assay and platform launches as key elements of its long-term growth strategy.

QuidelOrtho Corp Schedule 13G shows Vanguard Capital Management beneficially owns 3,572,563 shares of common stock, representing 5.24% of the class. The filing states Vanguard has sole dispositive power over 3,572,563 shares and sole voting power over 519,853 shares. The filing attributes holdings to Vanguard Capital Management LLC and affiliated business divisions in accordance with SEC Release No. 34-39538.

QuidelOrtho Corp ownership filing: Vanguard Portfolio Management reports beneficial ownership of 4,088,168 shares of common stock, representing 6% of the class as of 03/31/2026. The filer reports 56,400 shares of sole voting power and sole dispositive power over 4,088,168 shares. The filing is signed on 04/29/2026.

QuidelOrtho Corp executive Bryan Michael Hanson, EVP Global Portfolio Management & Marketing, reported routine equity compensation activity. On April 26, 2026, 1,459 restricted stock units vested and converted into the same number of common shares, as previously disclosed on a Form 3. To cover related tax withholding obligations, 528 common shares were withheld by the company at a reference price of $11.59 per share, a non-market disposition. Following these transactions, Hanson directly holds 4,598 shares of QuidelOrtho common stock.

QuidelOrtho Corp Chief Operations Officer Philip D. McLellan reported routine equity compensation activity involving restricted stock units and related tax withholding. On April 26, 2026, 1,946 restricted stock units were released and converted into the same number of common shares at no cost, increasing his direct holdings.

To cover tax withholding obligations tied to this vesting, 699 common shares were withheld and disposed of at a value of $11.59 per share, a non‑market, tax-driven transaction. After these transactions, McLellan directly held 23,196 shares of QuidelOrtho common stock.

QuidelOrtho Corporation has issued its definitive proxy for the 2026 virtual annual meeting on June 16, 2026. Stockholders will vote on electing 10 directors for one-year terms, an advisory Say‑on‑Pay resolution on executive compensation, and ratifying KPMG as independent auditor for the fiscal year ending January 3, 2027.

The company highlights strong 2025 execution as it shifts from COVID‑driven volatility toward a more durable diagnostics mix, with revenue of $2.73 billion, including $2.33 billion from non‑respiratory products and $402 million from respiratory products. Adjusted EBITDA margin reached 22% as GAAP operating expenses fell 5% through cost‑savings initiatives.

The Board emphasizes robust governance, with an independent Chair, majority‑independent Board and fully independent committees, annual director elections, and stock ownership requirements for directors and executives. It recommends voting FOR all director nominees, FOR the Say‑on‑Pay proposal, and FOR ratifying KPMG.

QuidelOrtho Corp Chief Operations Officer Philip D. McLellan reported routine equity compensation activity. On April 22, 2026, 3,238 restricted stock units vested and were released into an equal number of common shares. The company withheld 1,162 of those shares at a price of $11.90 per share to cover tax obligations, a non‑market disposition. After these transactions, McLellan directly held 22,412 common shares. An additional 3,238 restricted stock units are scheduled to vest on April 22, 2027.