Short answer
QuidelOrtho Corp (QDEL) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $2.7B (−1.9% year over year) and net income of −$1.1B.
- Top risk flagged: Legal/regulatory risk: FDA EUA approvals and compliance with anti-bribery and data privacy laws impacting product commercialization and operations
FY2025 key financial metrics · XBRL
- Revenue
- $2.7B
- −1.9% YoY
- Net income
- −$1.1B
- +44.8% YoY
- Operating margin
- -33.7%
- +36.8 pp YoY
- EPS (diluted)
- −$16.69
- +45.4% YoY
- ROE
- -58.9%
- +9.8 pp YoY
- Operating cash flow
- $105M
- +26.7% YoY
Source: XBRL data from the QuidelOrtho Corp (QDEL) FY2025 10-K on SEC EDGAR. USD.
QuidelOrtho Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: global diagnostics provider specializing in immunoassay, molecular testing, clinical chemistry, transfusion medicine, and POC solutions
- Initiated wind-down of U.S. donor screening portfolio (VIP platform, microplate assays) starting Feb 2024, expected substantially complete by mid-2026
- New emphasis on advancing digital solutions with launch of QuidelOrtho RESULTS MANAGER and planned 2026 releases of automation and informatics products
- R&D spend $186.2M in 2025, down from $218.7M in 2024, reflecting project phase transitions and continued innovation investment
- Customer service innovation highlighted by being first medical device company awarded global ISO Excellence Services Label in EMEA region
Management Discussion & Analysis
- Revenue $2,730.2M FY25, down 2% YoY from $2,782.9M; FY24 down 7% YoY from $2,997.8M, COVID-19 product declines primary driver
- Operating margin approx. 20.1% FY25 (Operating expenses $1,488.9M = 54.5% of revenue), cost of sales 53.3% vs 53.8% in FY24; margin benefit from cost savings initiatives
- Best segment growth: EMEA revenue up 7% to $360.7M, Adjusted EBITDA up 78% to $82.6M; worst segment: Donor Screening revenue down 54% to $52.6M due to U.S. wind-down
- Operating cash flow pressures from restructuring charges: Restructuring charges $263.6M in FY25 vs $127.2M in FY24; buybacks/dividends details not provided; capital spending not detailed
- Outlook cautious: Ongoing COVID/endemic dynamics, competitive pressures, pricing pressures, geopolitical tariffs risks; restructuring and strategic refocus ongoing to improve financials
Risk Factors
- Legal/regulatory risk: FDA EUA approvals and compliance with anti-bribery and data privacy laws impacting product commercialization and operations
- Geopolitical/macro risk: April 2025 U.S. tariffs on imports from U.K., Canada, Mexico, China causing incremental supply chain and shipping costs
- Operational/supply chain risk: Concentration in California facilities near earthquake/fire faults posing disruption risk to manufacturing and product delivery
- Competitive risk: Distributors developing own competitive products and exclusive agreements with rivals threatening key sales channels
- Financial risk: Customer concentration with significant revenues from few distributors; loss would materially disrupt sales and financial results
Generated from the filing text; verify against the original. How to read a 10-K
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