QuidelOrtho Corp
QDEL evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for QDEL—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · QDEL
QuidelOrtho Corp (QDEL) is a global diagnostics company providing immunoassay, molecular, clinical chemistry, and transfusion medicine products across more than 140 countries.
Key risk: High leverage
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Financial data as of Jun 28, 2026.
QuidelOrtho Corp (QDEL) is a global diagnostics company providing immunoassay, molecular, clinical chemistry, and transfusion medicine products across more than 140 countries.
- Operates globally with manufacturing in the U.S., U.K., and China, serving customers in over 140 countries [sec_mda · as of 2026-08-07].
- Revenue segments include Labs, Transfusion Medicine, Point of Care, and Molecular Diagnostics [sec_mda · as of 2026-08-07].
- Latest reported financials (as of 2026-06-28): cash & equivalents $123.4M, total revenue $630.9M, net income -$92.9M, shareholders' equity $1,920.5M, total debt $2,891.1M [sec].
- Full year 2023 revenue was $3.0 billion, with non-respiratory revenue up 61% as reported, and a GAAP net loss of ($10.1) million [sec · filed 2024-04-02].
- Management expects current cash, cash from operations, and credit facility to fund near-term needs for at least the next 12 months [sec_mda · as of 2026-02-19].
What works
- Non-respiratory revenue grew 61% in 2023 (largely from the Ortho combination), indicating successful portfolio expansion [sec · filed 2024-04-02].
- Adjusted EBITDA improved in the EMEA segment from $127.1M (2023) to $141.2M (2025), showing operational leverage [sec_mda · as of 2026-02-19].
- Global infrastructure and broad test portfolio support a diversified revenue base across multiple geographies [sec_mda · as of 2026-08-07].
What to weigh
- High debt load of $2,891.1M relative to equity of $1,920.5M as of 2026-06-28 [sec].
- Net loss of $92.9M for the latest reported period (as of 2026-06-28) [sec].
- Exposed to supply chain disruptions, tariff developments, and geopolitical conflicts (e.g., Middle East) that can delay orders [sec_mda · as of 2026-05-06].
- Highly competitive diagnostics market requires continuous innovation to retain and grow customers [sec_mda · as of 2026-05-06].
From the filings
Quoted directly from source documents.
Global operational reach
“Our global infrastructure and commercial reach support our customers across more than 140 countries and territories with quality diagnostics, a broad test portfolio and market-leading service.”
SEC MD&A · August 7, 2026
Liquidity outlook for 12 months
“We anticipate that our current Cash and cash equivalents, together with cash provided by operating activities and amounts available under our Revolving Credit Facility, will be sufficient to fund our near-term capital and operating needs for at least the next 12 months.”
SEC MD&A · February 19, 2026
Risk from competitive environment
“Because our business environment is highly competitive, our long-term growth and profitability will depend in part on our ability to retain and grow our current customers and attract new customers through developing and delivering new and improved products and services”
SEC MD&A · May 6, 2026
Risks & what to watch (4)›
Key risks
- High leverage — Total debt of $2,891.1M vs. equity of $1,920.5M as of 2026-06-28 [sec].
- Net loss position — Net loss of $92.9M for the period ended 2026-06-28 [sec].
- Geopolitical disruptions — Delays in EMEA orders due to Middle East conflicts; prolonged conflict could impact business [sec_mda · as of 2026-05-06].
- Integration and restructuring risk — Inability to realize benefits from strategic transactions or restructurings could affect results [sec_mda · as of 2026-08-07].
What to watch
- Revenue and profitability trends in Labs and Transfusion Medicine segments [sec_mda · as of 2026-02-19].
- Impact of global trade and tariff developments on supply chain and costs [sec_mda · as of 2026-05-06].
- Progress on strategic portfolio management and capital allocation initiatives [sec · filed 2024-04-02].
- Ability to maintain liquidity and service debt given negative net income [sec].
Sources: SEC filings · SEC MD&A · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
6.3 months
D/E 2.22 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Runway
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
236
Total value held
$1.20B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 10,449,127 | $171.7M |
| fmr llc | 6,591,152 | $108.3M |
| vanguard capital management llc | 6,105,420 | $100.3M |
| newtyn management, llc | 4,558,472 | $74.9M |
| vanguard portfolio management llc | 4,031,768 | $66.2M |
| dimensional fund advisors lp | 3,048,768 | $50.1M |
| american century companies inc | 2,856,132 | $46.9M |
| state street corp | 2,786,621 | $45.8M |
| goldman sachs group inc | 2,412,411 | $39.6M |
| frontier capital management co llc | 1,752,613 | $28.8M |
Showing top 10 of 236 institutional holders of QuidelOrtho Corp. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 28.4%
- Days to cover
- 5.7
- Shares short
- 11,654,263
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
QDEL short interestGovernance
Frequently asked questions
What is the AI investment thesis for QuidelOrtho Corp?
QuidelOrtho Corp (QDEL) is a global diagnostics company providing immunoassay, molecular, clinical chemistry, and transfusion medicine products across more than 140 countries.
Who is the CEO of QuidelOrtho Corp?
Mr. Brian J. Blaser is the chief executive officer of QuidelOrtho Corp (QDEL).
Where is QuidelOrtho Corp headquartered?
QuidelOrtho Corp (QDEL) is headquartered in San Diego, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.