NASDAQ$QDEL
Quidel Corp · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
QuidelOrtho reported Q4 2025 revenue of $724M with adjusted diluted EPS of $0.46 despite a GAAP net loss.
Fourth quarter revenue was $724 million; non-respiratory revenue grew 7% in constant currency ex-donor screening while respiratory revenue fell 14% on lower COVID testing. GAAP net loss was $131 million, but adjusted EBITDA was $153 million (21% margin) and adjusted diluted EPS was $0.46. Full-year adjusted EBITDA was $597 million with adjusted EPS of $2.12, in line with guidance.
- Q4 revenue $724M; Labs +8% reported.
- Adjusted EBITDA $153M; adjusted EPS $0.46.
- FY25 free cash flow guide: $120–$160M in 2026 vs. $(77)M in 2025.
- CFO retirement announced; search underway.
Headline financials
Revenue & EPS history
Quidel · Revenue · Quarterly
$724M
Forward guidance
FY 2026 guidance: revenue $2.7–$2.9B, adjusted EBITDA $630–$670M (23.3% margin), adjusted EPS $2.00–$2.42, and free cash flow $120–$160M.
Tailwinds
- Cost savings drove 240 bps FY25 adjusted EBITDA margin expansion.
- Non-respiratory growth and flu strength offset COVID decline.
- ERP conversion completed; FCF expected to improve sharply in 2026.
Headwinds
- GAAP losses include goodwill and restructuring noise.
- Respiratory revenue still declining year over year.
- Donor screening wind-down weighs on mix.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 12 quarterly earnings reports · overlaid with Q4 2025
-3.1%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.8%
Avg return
30 days after
17%
2 / 12 earnings
Positive
+6.9%
Q2 2024
Best reaction
-17.6%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.0% | -14.8% | +22.8% | |
| Q4 2025 | -17.6% | -19.7% | -40.6% | |
| Q3 2025 | -4.3% | +6.3% | +30.6% | |
| Q1 2025 | -0.3% | +44.3% | +13.8% | |
| Q3 2024 | -2.8% | +3.0% | -4.4% | |
| Q2 2024 | +6.9% | +2.0% | +7.5% | |
| Q1 2024 | -2.7% | -4.0% | -5.0% | |
| Q3 2023 | -0.9% | +2.9% | +13.3% | |
| Q2 2023 | -2.0% | -7.1% | -9.8% | |
| Q1 2023 | -6.5% | -7.7% | -7.6% | |
| Q3 2022 | +3.8% | +0.1% | +7.7% | |
| Q2 2022 | -5.1% | -6.3% | -19.2% |
Discussion
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