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QDEL 8-K filings, explained
Every material Form 8-K QuidelOrtho has filed with the SEC since February 12, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
QuidelOrtho reported third-quarter 2026 revenue of $619 million, down 12% from the prior year, and a GAAP net loss of $54 million, or $0.78 per diluted share. The company lowered its top-end 2026 guidance for adjusted diluted EPS to $0.65 to $0.70 from $0.65 to $0.90, and launched a restructuring program it expects to save over $80 million a year in 2027, with $30 million to $35 million in one-time charges in the fourth quarter of 2026.
Q3 2026 revenue $619 million, down 12%; Point of Care revenue fell 27% on a softer respiratory season
Q3 GAAP net loss $54 million ($0.78 per share); adjusted diluted EPS $0.31
2026 guidance: revenue $2.52 to $2.54 billion; adjusted EBITDA $540 to $545 million; adjusted EPS $0.65 to $0.70 (previously $0.65 to $0.90)
Effective November 9, 2026, Chief Operations Officer Phil McLellan's role is eliminated; Jonathan Siegrist and Bryan Hanson named heads of the two new businesses
QuidelOrtho entered into Amendment No. 1 to its credit agreement dated August 21, 2025, with Bank of America as administrative agent. The amendment resets the maximum leverage and minimum interest coverage covenant levels through the fiscal quarter ending September 30, 2029, and sets new pricing and commitment fees during that period. The filing describes added restrictions on the financial covenants, so shareholders gain covenant room but face tighter terms in the interim.
Amendment dated September 23, 2026 to the credit agreement originally dated August 21, 2025
Maximum Consolidated Leverage Ratio set at 5.50 to 1.00 for quarters through July 2, 2028, stepping down to 4.25 to 1.00 on or after September 30, 2029
Minimum Consolidated Interest Coverage Ratio set at 2.25 to 1.00, rising to 3.00 to 1.00 on or after September 30, 2029
Initial Term SOFR margin of 2.50% per annum for the Term Loan A facilities and revolver until the compliance certificate for the quarter ending September 28, 2026 is received; term loan B interest unchanged
QuidelOrtho reported second-quarter 2026 total revenue of $631 million, up 3% as reported, and a GAAP net loss of $93 million, narrower than the $255 million loss a year earlier. The company cut its full-year 2026 revenue, adjusted EBITDA and adjusted EPS guidance and withdrew its free cash flow guidance, citing China demand headwinds and a softer global respiratory environment.
Q2 2026 total revenue $631 million, up 3% as reported and 2% in constant currency; excluding China, up 6%
GAAP net loss $93 million, or $1.36 per share, versus $255 million prior-year; adjusted diluted EPS $0.13
Full-year 2026 revenue guidance lowered to $2.52 billion to $2.60 billion from $2.70 billion to $2.75 billion
Adjusted EBITDA guidance lowered to $540 million to $560 million from $615 million to $630 million; free cash flow guidance withdrawn (previously $100 million to $120 million)
QuidelOrtho appointed Micah Young, former CFO of Masimo, as Chief Financial Officer effective July 6, 2026, succeeding Joseph Busky, who is retiring. Busky will stay in a transition role and then serve as a special advisor to the CEO for up to 24 months. The filing discloses Young's pay package, including a $750,000 base salary and a $6,500,000 inducement RSU grant, which shareholders may track in future proxy and 10-K disclosures.
Micah Young, 48, becomes CFO effective July 6, 2026, after serving as CFO of Masimo from October 2017 until Masimo's acquisition by Danaher in June 2026
Young's offer letter sets a $750,000 base salary, a 100% target bonus, a $500,000 cash sign-on bonus and $6,500,000 in inducement RSUs vesting over three years
Joseph Busky, who announced his retirement in February 2026, will be paid a $340,000 annual base salary for six months after the effective date, then $100,000 as a special advisor for up to 24 months
QuidelOrtho reported first-quarter 2026 revenue of $619.8 million, down from $692.8 million a year earlier, and a GAAP net loss of $91.8 million, or $1.35 per share. The company cut its full-year 2026 guidance for revenue, adjusted EBITDA, adjusted diluted earnings per share and free cash flow, citing a weaker respiratory season and China and Middle East disruptions.
Q1 2026 total revenue was $619.8 million, down 10.5% from $692.8 million; Point of Care revenue fell 34.0% to $112.8 million.
GAAP net loss was $91.8 million, or $1.35 per diluted share, compared with a net loss of $12.7 million, or $0.19 per share, a year earlier.
Adjusted diluted loss per share was $0.04, compared with adjusted diluted earnings of $0.74 in the prior-year quarter.
2026 guidance now calls for adjusted EBITDA of $615 million to $630 million (previously $630 million to $670 million) and adjusted diluted EPS of $1.80 to $2.00 (previously $2.00 to $2.42).
QuidelOrtho preliminarily estimated first-quarter 2026 revenue at $615-$620 million, citing a weaker respiratory season, slower China distributor sales and delayed EMEA orders. The company said only the low end of its full-year 2026 guidance remains achievable, and that its guidance ranges were intentionally broad.
Preliminary unaudited Q1 2026 revenue (quarter ended March 29, 2026) of $615-$620 million
U.S. influenza-like illness visits were down approximately 30% versus Q1 2025, per the CDC
Q1 2026 free cash flow expected to be $(65) to $(70) million negative; full-year free cash flow still expected to be positive
Full first-quarter results and full-year guidance discussion scheduled for May 5, 2026
QuidelOrtho appointed Nathaniel Sisitsky as Chief Legal Officer and Corporate Secretary, effective March 23, 2026, succeeding Michelle Hodges, who is retiring from both roles. Hodges will remain as a special advisor to the CEO for up to 24 months under a transition agreement, with her equity awards continuing to vest. The change is a senior legal leadership transition with no financial results or guidance included.
Nathaniel "Nate" Sisitsky named Chief Legal Officer and Corporate Secretary, effective March 23, 2026
Sisitsky previously served as Chief Legal Officer and Corporate Secretary at STAAR Surgical Company and reports to CEO Brian Blaser
Hodges notified the company of her retirement on March 18, 2026; she will receive base salary for up to six months, then serve as special advisor for up to 24 months at a 50% salary reduction after the first 12 months
QuidelOrtho said Chief Financial Officer Joseph M. Busky notified the company on February 9, 2026, that he plans to retire effective June 30, 2026. The company said the decision is for personal reasons and not the result of any disagreement on financial statements, operations, policies or practices.
Joseph M. Busky, CFO and principal financial officer, gave notice on February 9, 2026
Retirement is effective June 30, 2026
The filing states the departure is for personal reasons, not a disagreement with the company or its auditors
QuidelOrtho reported fourth-quarter and full-year 2025 results. Q4 revenue rose 2.2% to $724 million, but the company posted a GAAP net loss of $131 million, while full-year revenue fell 1.9% to $2.73 billion. The company also issued 2026 guidance of $2.7 billion to $2.9 billion in revenue and $120 million to $160 million in free cash flow, and said CFO Joseph M. Busky will retire effective June 30, 2026.
Q4 2025 revenue was $724 million, up 2.2% as reported; GAAP net loss was $131 million, or $1.92 per diluted share, and adjusted diluted EPS was $0.46.
Full-year 2025 revenue was $2.73 billion, down 1.9%; GAAP net loss was $1.13 billion, including a $701 million goodwill impairment charge.
2026 guidance: revenue of $2.7 to $2.9 billion, adjusted EBITDA of $630 to $670 million, adjusted diluted EPS of $2.00 to $2.42, and free cash flow of $120 to $160 million.
CFO Joseph M. Busky will retire effective June 30, 2026, and will serve in an advisory role; the company has begun a search for a successor.
QuidelOrtho said board member Matthew Strobeck notified the board on January 30, 2026 that he will not seek re-election at the 2026 annual stockholders meeting. The filing says the decision reflects other professional commitments and not any disagreement with the company, its board or management.
Matthew W. Strobeck gave notice to the board on January 30, 2026 of his decision not to stand for re-election
He will serve until the 2026 Annual Meeting, when the board size is set to drop from eleven to ten directors
The filing states the departure was not due to any dispute or disagreement on operations, policies or practices
QuidelOrtho reported third-quarter 2025 results with revenue of $700 million, down 4% from $727 million a year earlier, mainly due to lower COVID-19 and Donor Screening revenue. A $701 million non-cash goodwill impairment charge drove a GAAP net loss of $733 million, while adjusted diluted EPS was $0.80 versus $0.85 and adjusted EBITDA rose to $177 million from $171 million. The company narrowed its full-year 2025 revenue and adjusted EBITDA guidance ranges and updated adjusted EPS guidance to $2.00 to $2.15 to reflect its debt refinancing.
Q3 2025 total revenue was $700 million, down 4% as reported; non-respiratory revenue rose 5% as reported
GAAP diluted loss per share was $10.78 versus a $0.30 loss a year earlier, including a $701 million goodwill impairment charge
Adjusted EBITDA was $177 million, a 25% margin, compared with $171 million and 23% a year earlier
Full-year 2025 guidance: revenue $2.68 to $2.74 billion, adjusted EBITDA $585 to $605 million, adjusted diluted EPS $2.00 to $2.15
QuidelOrtho entered a credit agreement with Bank of America as administrative agent that provides $1.15 billion and $1.45 billion term loans, a $100 million delayed draw term loan and a $700 million revolver. The company borrowed the full Term Loan A and Term Loan B amounts on August 21, 2025 and used the proceeds, plus cash on hand, to repay its 2022 credit agreement. The company says the refinancing extends debt maturities and reduces required amortization payments.
Term Loan A of $1.15 billion matures August 21, 2030; Term Loan B of $1.45 billion matures August 21, 2032
Initial rate on Term Loan B is 4.00% per annum for Term SOFR loans; Term Loan A and revolver start at 2.25% per annum for Term SOFR loans
Financial covenants include a maximum Consolidated Leverage Ratio of 4.50 to 1.00 for the first three years, then 4.25 to 1.00, and a minimum Consolidated Interest Coverage Ratio of 3.00 to 1.00
Loans are secured by substantially all assets of the company and guarantor subsidiaries, excluding real property and certain other excluded assets
QuidelOrtho reported second-quarter 2025 revenue of $614 million, down from $637 million a year earlier, and a GAAP net loss of $255 million, or $3.77 per diluted share, versus a $148 million loss in the prior-year quarter. The loss includes $179 million in mostly non-cash restructuring, integration and other charges, while adjusted diluted EPS rose to $0.12 from a loss of $0.07 and adjusted EBITDA rose to $107 million from $90 million. The company reiterated its full-year 2025 guidance.
Total revenue was $614 million versus $637 million, down about 4%, mainly due to lower COVID-19 and Donor Screening revenue.
GAAP diluted loss per share was $3.77 versus $2.20 a year earlier; GAAP net loss was $255 million.
Adjusted diluted EPS was $0.12 versus a loss of $0.07; adjusted EBITDA margin was 17%, a 330 basis point improvement.
Full-year 2025 guidance was reiterated, including total revenue of $2.60 to $2.81 billion and adjusted diluted EPS of $2.07 to $2.57.
At its annual meeting, QuidelOrtho stockholders approved an amended and restated 2018 Equity Incentive Plan that adds 6,200,000 shares for issuance and extends the plan's term to May 20, 2035. Stockholders also elected all eleven director nominees and ratified KPMG LLP as the independent auditor for fiscal 2025. The filing reports routine annual meeting votes and does not report a change in financial results.
Equity plan amended to authorize 6,200,000 additional shares of common stock, with the term extended to May 20, 2035
Plan approval vote: 56,197,594 for, 3,246,510 against, 16,694 abstentions, and 3,395,934 broker non-votes
All eleven director nominees were elected; Kenneth J. Widder, M.D. received 58,150,438 votes for and Kenneth F. Buechler, Ph.D. received 56,977,744
KPMG LLP ratified as independent registered public accounting firm for fiscal 2025 with 62,737,831 votes for
QuidelOrtho reported first-quarter 2025 revenue of $693 million, down from $711 million a year earlier, mainly due to lower COVID-19 and Donor Screening sales. Adjusted diluted EPS rose to $0.74 from $0.44, and GAAP net loss narrowed to $13 million from $1.71 billion, which included a prior-year goodwill impairment charge. The company maintained its full-year 2025 guidance, so shareholders see weaker sales offset by higher profitability.
Total revenue was $693 million versus $711 million a year earlier; non-respiratory revenue was flat at $573 million.
Adjusted diluted EPS was $0.74, compared with $0.44 in the prior-year period; adjusted EBITDA was $160 million versus $132 million.
GAAP net loss was $13 million, compared with $1.71 billion a year earlier, which included a $1.74 billion goodwill impairment charge.
Full-year 2025 guidance was maintained, including reported revenue of $2.60 to $2.81 billion and adjusted diluted EPS of $2.07 to $2.57.
QuidelOrtho reported fourth-quarter 2024 revenue of $708 million, down from $743 million, and a GAAP net loss of $153 million. For the full year, revenue fell to $2.78 billion from $3.00 billion, and the net loss was $2.03 billion, driven by a $1.82 billion goodwill impairment charge. The company also issued 2025 guidance of $2.60 billion to $2.81 billion in revenue and $575 million to $615 million in adjusted EBITDA.
Q4 2024 revenue was $708 million versus $743 million; GAAP diluted loss was $2.28 per share versus earnings of $0.10 per share
Full-year 2024 GAAP diluted loss was $30.16 per share, including a goodwill impairment charge of approximately $1.82 billion
Full-year 2024 adjusted diluted EPS was $1.85, down from $4.13; adjusted EBITDA was $543 million versus $723 million
2025 guidance: total revenue $2.60 billion to $2.81 billion, adjusted EBITDA $575 million to $615 million, adjusted diluted EPS $2.07 to $2.57
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