QuidelOrtho Cuts 2026 Outlook After Weak Q1, Citing China Slowdown and Soft Flu Season

Overview

• QuidelOrtho reported first‑quarter revenue of $620 million and a GAAP net loss of $92 million, reflecting a milder respiratory season and slower orders in China.
• The company narrowed its 2026 forecast to $2.70–$2.75 billion in sales, $615–$630 million in adjusted EBITDA, and $100–$120 million in free cash flow.
• Point‑of‑care testing revenue fell 34% to $113 million as CDC reports showed flu‑like illness running about 30% lower than last year.
• Sales in China slowed after distributors paused purchases ahead of draft national pricing rules for diagnostic tests, and management said the final impact remains uncertain.
• QuidelOrtho closed the LEX Diagnostics deal and is rolling out a U.S. high‑sensitivity troponin test and the VITROS 450 analyzer, with LEX assay revenue expected to begin in early 2027.