Diagnostics technologies firm QuidelOrtho (NASDAQ:QDEL) expects Q4 revenues in the range of $853M to $868M vs. consensus estimate of $764.27M.
COVID-19 product revenue is expected to be in the range of $124M-$134M and non-COVID-19 product revenue is expected to be in the range of $729M-$734M, representing 485% growth on a GAAP basis and 18% growth on a proforma constant currency basis at the midpoint.
CEO Douglas Bryant said: “We delivered exceptional results in the fourth quarter to close out a transformative year, supported by growth across our Molecular Diagnostics, Transfusion Medicine, and Point of Care business units. Notably, our strong positioning in the point-of-care market with both the Sofia platform and QuickVue Flu Test enabled us to serve patients in a strong respiratory season, which drove substantial revenue growth.”
Full year 2022 revenue is expected in the range of $4.038B to $4.053B (consensus: $3.95B), with COVID-19 product revenue of $1.441B-$1.451B and non-COVID-19 product revenue of $2.597B-$2.602B.
QuidelOrtho (QDEL) will report financial results for its fourth quarter and full year 2022 after the market close on February 15, 2023.