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August 6 , 2026 QuidelOrtho Second Quarter 2026 Financial Results QuidelOrtho © 2026 QuidelOrtho Corporation . All rights reserved . | 1
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© 2026 QuidelOrtho Corporation. All rights reserved. | 2 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements: This presentation of QuidelOrtho Corporation ("QuidelOrtho" or the "Company") contains "forward -looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herein that is not strictl y historical, including, but not limited to, QuidelOrtho’s commercial and other strategic goals, financial guidance for 2026 and related assumptions and other future financial conditio n and operating results, including growth expectations and expected results of operations, financial position or cost -savings and operational improvement initiatives, and other future plans, objectives, strategies, expectations and intentions. Without limiting the foregoing, the words “may,” “will,” “could,” “would,” “should,” “might,” “e xpect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “goal,” “project,” “strategy,” “future,” “continue,” “aim,” “strive,” “seek” or similar words, expressions or the n egative of such terms or other comparable terminology are intended to identify forward-looking statements. Such statements are based on the beliefs and expectations of QuidelOrtho’s management as of today and are subject to significant known and unknown risks and uncertainties. Actual results or outcomes may differ significantly from those set for th or implied in the forward-looking statements. The following factors, among others, could cause actual results or outcomes to differ from those set forth or implied in the forw ard-looking statements: fluctuations in demand for QuidelOrtho’s non-respiratory and respiratory products; supply chain, production, logistics, distribution and labor disruptions and challenges; inability to successfully identify, consummate or realize the anticipated benefits of strategic transactions, strategic restructurings, divestitures, spin -offs or discontinuances of certain business operations, or debt financings, on the anticipated timelines, or at all; delays in the development of or failures or delays in the receipt of app rovals for new or enhanced products; failure of new products and services to be commercially viable or accepted; changes in reimbursement rates for our products, including reimb ursement rate reductions proposed by the China National Health Security Administration; and other macroeconomic, geopolitical, market, business, competitive and/or regulato ry factors affecting the business of QuidelOrtho generally, including those arising from the effects of announced or future or amended tariffs, trade policies, investigations , global trade relations and other tariff-related developments, as well as those discussed in QuidelOrtho’s Annual Report on Form 10 -K for the fiscal year ended December 28, 2025 and subsequent reports filed with the Securities and Exchange Commission (the “Commission”), including under Part I, Item 1A, “Risk Factors” of the Form 10 -K. You should not rely on forward-looking statements as predictions of future events because these statements are based on assumptions that may not come true and are speculative by their nature. All forward-looking statements are based on information currently available to QuidelOrtho and speak only as of the date hereof. QuidelOrtho undertakes no oblig ation to update any of the forward-looking information or time-sensitive information included in this presentation, whether as a result of new information, future events, changed expectations or otherwise, except as required by law. Non-GAAP Financial Measures: This presentation contains financial measures that are considered non -GAAP financial measures under applicable rules and regu lations of the Commission, including but not limited to “constant currency revenue changes,” “recurring revenue,” "adjusted operating expens es," "adjusted operating expense changes," “adjusted EBITDA,” “adjusted EBITDA margin,” “adjusted gross profit margin,” “adjusted gross profit margin changes,” “adjuste d diluted EPS,” “adjusted diluted EPS changes,” "adjusted tax rate," “free cash flow,” "free cash flow changes" and other non -GAAP financial measures included in the reconcilia tion tables in the Appendix of this presentation. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures eliminate impacts of certain non -cash, unusual or other items that the Company does not consider indicative of its ongoing operating performance, and the Company generally uses these non -GAAP financial measures to facilitate management’s financial and operational decision -making, including evaluation of the Company’s historical operating results and comparison to competitors’ operating results. The Comp any’s definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non -GAAP financial measures reflect an additional way of viewing asp ects of the Company’s operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures, may provide a more complete unders tanding of factors and trends affecting the Company’s business. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company’s reported results of operations, management strongly encourages investors to review the Company’s consolidated financial statements and reports filed with the Commission in their entirety. Reconciliations of the historical non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the Appendix or elsewhere wi thin this presentation. © 2026 QuidelOrtho Corporation. All rights reserved. | 2Q2 2026 Financial Results Presentation | August 6, 2026
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© 2026 QuidelOrtho Corporation. All rights reserved. | 3 Basis of Presentation • 2026 financials are as of the three and six months ended June 28, 2026 and 2025 financials are as of the three and six months ended June 29, 2025. • Revenue growth rates are shown on a constant currency basis unless otherwise noted. The term "constant currency" means we have translated local currency revenues for all reporting periods to U.S. dollars using currency exchange rates held constant for each period. • Recurring revenue, a non-GAAP measure, means revenues from sales of our assays, reagents, consumables and services, and excludes instruments. • Adjusted diluted earnings per share ("EPS") is a non-GAAP measure, which is calculated based on weighted-average shares outstanding. Diluted shares for 2026 were 68.6 million for the three months ended June 28, 2026 and 68.5 million for the six months ended June 28, 2026. Diluted shares for 2025 were 67.9 million for the three months ended June 29, 2025 and 67.9 million for the six months ended June 29, 2025. • For full-year 2026 financial guidance, a reconciliation of forward-looking non-GAAP measures, including adjusted EBITDA, adjusted EBITDA margin and adjusted diluted EPS, to the most directly comparable GAAP measures is not provided because comparable GAAP measures for such measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and quantifying measures that would be necessary for such reconciliation. We are not, without unreasonable effort, able to reliably predict the impact of impairment charges and related tax benefits and other non-recurring adjustments. These items are uncertain, depend on various factors and may have a material impact on our future GAAP results. In addition, the Company believes any such reconciliation would imply a degree of precision and certainty that could be confusing to investors. • Operating expenses is comprised of Selling, marketing and administrative and Research and development expenses. • Free cash flow for the three months ended June 28, 2026 of $(136) million represents $111 million of net cash used for operating activities less $26 million of cash used for acquisitions of property, plant, equipment, investments and intangibles. Free cash flow for the six months ended June 28, 2026 of $(203) million represents $144 million of net cash used for operating activities less $60 million of cash used for acquisitions of property, plant, equipment, investments and intangibles. • Net debt to adjusted EBITDA is based on management estimates for adjusted EBITDA and net debt as of June 28, 2026. • Pro forma debt leverage ratio includes pro forma EBITDA adjustments as of June 28, 2026, as defined and permitted under the terms of our credit agreement. © 2026 QuidelOrtho Corporation. All rights reserved. | 3Q2 2026 Financial Results Presentation | August 6, 2026
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© 2026 QuidelOrtho Corporation. All rights reserved. | 4 Across Regions Highly Recurring Revenue Across Key Healthcare Settings Q2 2026 Revenue Highlights © 2026 QuidelOrtho Corporation. All rights reserved. | 4See Non-GAAP Financial Measures on slide 2, Basis of Presentation on slide 3, and Appendix for additional information. Q2 2026 Financial Results Presentation | August 6, 2026 $631M 2% y/y Constant Currency $631M 2% y/y Constant Currency $631M 2% y/y Constant Currency
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© 2026 QuidelOrtho Corporation. All rights reserved. | 5 Across Regions Highly Recurring Revenue Across Key Healthcare Settings YTD 2026 Revenue Highlights © 2026 QuidelOrtho Corporation. All rights reserved. | 5See Non-GAAP Financial Measures on slide 2, Basis of Presentation on slide 3, and Appendix for additional information. Q2 2026 Financial Results Presentation | August 6, 2026 $1.25B (6)% y/y Constant Currency $1.25B (6)% y/y Constant Currency $1.25B (6)% y/y Constant Currency
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© 2026 QuidelOrtho Corporation. All rights reserved. | 6 Q2 2026 Financial Results Adj Operating Expenses $219M 2% y/y Adj EBITDA $129M Adj Diluted EPS $0.13 8% y/y Adj Tax Rate 24.9% Depreciation $68M Cash Free Cash Flow $(136)M $123M © 2026 QuidelOrtho Corporation. All rights reserved. | 6See Non-GAAP Financial Measures on slide 2, Basis of Presentation on slide 3, and Appendix for additional information. Adj Gross Profit Margin 44.4% | (130) bps y/y Total Net Debt $2.8B Net Debt to Adj EBITDA 4.9x Pro Forma Debt Leverage Under Credit Agreement 4.3x SM&A R&D $174M | 2% y/y $45M | —% y/y Adj. EBITDA Margin 20.5% Q2 2026 Financial Results Presentation | August 6, 2026
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© 2026 QuidelOrtho Corporation. All rights reserved. | 7 YTD 2026 Financial Results Adj Operating Expenses $446M —% y/y Adj EBITDA $238M Adj Diluted EPS $0.10 (88)% y/y Adj Tax Rate 24.8% Depreciation $134M Free Cash Flow $(203)M © 2026 QuidelOrtho Corporation. All rights reserved. | 7See Non-GAAP Financial Measures on slide 2, Basis of Presentation on slide 3, and Appendix for additional information. Adj Gross Profit Margin 44.1% | (390) bps y/y SM&A R&D $359M | 2% y/y $88M | (11)% y/y Adj. EBITDA Margin 19.0% Q2 2026 Financial Results Presentation | August 6, 2026 (197)% y/y Operating Cash Flow Capital Expenditures $60M $(144)M
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© 2026 QuidelOrtho Corporation. All rights reserved. | 8 FY 2026 Financial Guidance As of 8/6/2026 Financial Guidance FY 2026 Total Revenues (Reported) $2.52 - $2.60B Adjusted EBITDA $540 - $560M Adjusted EBITDA Margin 21% - 22% Adjusted Diluted EPS $0.65 - $0.90 Free Cash Flow Withdrawn © 2026 QuidelOrtho Corporation. All rights reserved. | 8See Forward-Looking Statements and Non-GAAP Financial Measures on slide 2 and Basis of Presentation on slide 3 for additional information. Q2 2026 Financial Results Presentation | August 6, 2026
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© 2026 QuidelOrtho Corporation. All rights reserved. | 9 Appendix
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© 2026 QuidelOrtho Corporation. All rights reserved. | 10 Non-GAAP Adjustments © 2026 QuidelOrtho Corporation. All rights reserved. | 10 Q2 2026 Financial Results Presentation | August 6, 2026 Fiscal Quarter Year to Date In millions Q2 2026 Q2 2025 Q2 2026 Q2 2025 Employee compensation charges $ 2.1 $ — $ 4.4 $ — Accelerated depreciation 2.1 1.0 4.1 1.0 Incremental depreciation on PP&E fair value adjustment 1.7 3.3 3.5 6.6 Amortization of deferred cloud computing implementation costs 0.7 1.1 1.4 1.4 Other adjustments 0.4 0.2 1.0 0.2 Cost of sales, excluding amortization of intangibles 7.0 5.6 14.4 9.2 Amortization of deferred cloud computing implementation costs 8.5 5.7 15.8 9.7 Employee compensation charges 2.0 — 5.0 — Incremental depreciation on PP&E fair value adjustment 0.8 1.7 1.6 3.3 Other adjustments 4.5 0.6 7.9 1.8 Selling, marketing and administrative 15.8 8.0 30.3 14.8 Incremental depreciation on PP&E fair value adjustment 0.7 0.4 1.4 0.7 EU medical device regulation transition costs 0.7 0.1 1.4 0.3 Employee compensation charges 0.4 — 0.6 — Other adjustments 1.9 — 2.6 — Research and development 3.7 0.5 6.0 1.0 Amortization of intangibles 49.0 47.9 95.8 95.9 Restructuring, integration and other charges 6.5 178.9 10.9 195.0 Other operating expenses — — — — Increase to Operating loss 82.0 240.9 157.4 315.9 Interest expense, net — — — — Loss (gain) on investments 8.1 (1.0) 9.0 (1.3) Tax indemnification expense 3.3 — 3.3 — Other expense, net 11.4 (1.0) 12.3 (1.3) Increase to Loss before income taxes 93.4 239.9 169.7 314.6 Income tax impact of adjustments 8.7 23.4 21.8 11.6 Increase to Net loss $ 102.1 $ 263.3 $ 191.5 $ 326.2
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© 2026 QuidelOrtho Corporation. All rights reserved. | 11 Q2 2026 Non-GAAP Reconciliation © 2026 QuidelOrtho Corporation. All rights reserved. | 11(1) Refer to schedule on the Non-GAAP adjustments slide for further details. Q2 2026 Financial Results Presentation | August 6, 2026 Fiscal Quarter Q2 2026 Fiscal Quarter Q2 2025 In millions GAAP Adjustments (1) Non-GAAP GAAP Adjustments (1) Non-GAAP Gross profit $ 272.9 $ 7.0 $ 279.9 $ 274.9 $ 5.6 $ 280.5 Selling, marketing and administrative 189.7 (15.8) 173.9 178.0 (8.0) 170.0 Research and development 48.7 (3.7) 45.0 45.7 (0.5) 45.2 Amortization of intangibles 49.0 (49.0) — 47.9 (47.9) — Restructuring, integration and other charges 6.5 (6.5) — 178.9 (178.9) — Other operating expenses 0.8 — 0.8 5.1 — 5.1 Operating (loss) income (21.8) 82.0 60.2 (180.7) 240.9 60.2 Operating margin (3.5)% 9.5 % (29.4)% 9.8 % Interest expense, net 54.7 — 54.7 40.5 — 40.5 Other expense, net 4.7 (11.4) (6.7) 8.4 1.0 9.4 (Loss) income before income taxes (81.2) 93.4 12.2 (229.6) 239.9 10.3 Provision for income taxes 11.7 (8.7) 3.0 25.8 (23.4) 2.4 Net (loss) income $ (92.9) $ 102.1 $ 9.2 $ (255.4) $ 263.3 $ 7.9
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© 2026 QuidelOrtho Corporation. All rights reserved. | 12 Q2 2026 YTD Non-GAAP Reconciliation © 2026 QuidelOrtho Corporation. All rights reserved. | 12(1) Refer to schedule on the Non-GAAP adjustments slide for further details. Q2 2026 Financial Results Presentation | August 6, 2026 Year to Date Q2 2026 Year to Date Q2 2025 In millions GAAP Adjustments (1) Non-GAAP GAAP Adjustments (1) Non-GAAP Gross profit $ 536.7 $ 14.4 $ 551.1 $ 618.2 $ 9.2 $ 627.4 Selling, marketing and administrative 389.0 (30.3) 358.7 365.0 (14.8) 350.2 Research and development 93.6 (6.0) 87.6 98.9 (1.0) 97.9 Amortization of intangibles 95.8 (95.8) — 95.9 (95.9) — Restructuring, integration and other charges 10.9 (10.9) — 195.0 (195.0) — Other operating expenses 1.0 — 1.0 11.5 — 11.5 Operating (loss) income (53.6) 157.4 103.8 (148.1) 315.9 167.8 Operating margin (4.3)% 8.3 % (11.3)% 12.8 % Interest expense, net 105.8 — 105.8 80.5 — 80.5 Other expense, net 1.3 (12.3) (11.0) 9.8 1.3 11.1 (Loss) income before income taxes (160.7) 169.7 9.0 (238.4) 314.6 76.2 Provision for income taxes 24.0 (21.8) 2.2 29.7 (11.6) 18.1 Net (loss) income $ (184.7) $ 191.5 $ 6.8 $ (268.1) $ 326.2 $ 58.1
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© 2026 QuidelOrtho Corporation. All rights reserved. | 13 Revenue by Geography © 2026 QuidelOrtho Corporation. All rights reserved. | 13(1) See Basis of Presentation on slide 3 for additional information. Q2 2026 Financial Results Presentation | August 6, 2026 Three Months Ended 2025 2026 Second Quarter Q1 Q2 Q3 Q4 Q1 Q2 Percent Change Currency Impact Constant Currency (1) North America $406.7 $310.7 $381.4 $390.1 $328.9 $327.4 5.4% (0.4)% 5.8% EMEA 88.9 87.3 91.8 92.7 92.5 91.2 4.5% 3.0% 1.5% China 75.0 83.4 84.6 91.7 63.5 67.8 (18.7)% 4.6% (23.3)% JPAC 68.1 72.2 76.8 75.9 70.0 74.3 2.9% (7.6)% 10.5% Latin America 54.1 60.3 65.3 73.2 64.9 70.2 16.4% 8.6% 7.8% Total Revenue $692.8 $613.9 $699.9 $723.6 $619.8 $630.9 2.8% 0.9% 1.9% Year to Date 2025 2026 Six Months 6 Months 9 Months Year 6 Months Percent Change Currency Impact Constant Currency (1) North America $717.4 $1,098.8 $1,488.9 $656.3 (8.5)% (0.3)% (8.2)% EMEA 176.2 268.0 360.7 183.7 4.3% 6.7% (2.4)% China 158.4 243.0 334.7 131.3 (17.1)% 4.1% (21.2)% JPAC 140.3 217.1 293.0 144.3 2.9% (4.7)% 7.6% Latin America 114.4 179.7 252.9 135.1 18.1% 9.6% 8.5% Total Revenue $1,306.7 $2,006.6 $2,730.2 $1,250.7 (4.3)% 1.6% (5.9)% In millions In millions
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© 2026 QuidelOrtho Corporation. All rights reserved. | 14 Revenue by Business Unit © 2026 QuidelOrtho Corporation. All rights reserved. | 14(1) See Basis of Presentation on slide 3 for additional information. Q2 2026 Financial Results Presentation | August 6, 2026 Three Months Ended 2025 2026 Second Quarter Q1 Q2 Q3 Q4 Q1 Q2 Percent Change Currency Impact Constant Currency (1) Labs $373.0 $369.7 $373.8 $389.2 $353.1 $382.9 3.6% 1.2% 2.4% Immunohematology 128.5 132.3 142.0 141.0 138.3 134.2 1.4% 0.7% 0.7% Donor Screening 12.8 13.3 14.7 11.8 7.8 4.0 (69.9)% (0.4)% (69.5)% Point of Care 170.9 93.0 164.6 173.1 112.8 108.2 16.3% 0.6% 15.7% Molecular Diagnostics 7.6 5.6 4.8 8.5 7.8 1.6 (71.4)% 0.6% (72.0)% Total Revenue $692.8 $613.9 $699.9 $723.6 $619.8 $630.9 2.8% 0.9% 1.9% Year to Date 2025 2026 Six Months 6 Months 9 Months Year 6 Months Percent Change Currency Impact Constant Currency (1) Labs $742.7 $1,116.5 $1,505.7 $736.0 (0.9)% 1.7% (2.6)% Immunohematology 260.8 402.8 543.8 272.5 4.5% 2.4% 2.1% Donor Screening 26.1 40.8 52.6 11.8 (54.8)% (0.1)% (54.7)% Point of Care 263.9 428.5 601.6 221.0 (16.3)% 0.6% (16.9)% Molecular Diagnostics 13.2 18.0 26.5 9.4 (28.8)% 2.0% (30.8)% Total Revenue $1,306.7 $2,006.6 $2,730.2 $1,250.7 (4.3)% 1.6% (5.9)% In millions In millions
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© 2026 QuidelOrtho Corporation. All rights reserved. | 15 Revenue by Respiratory and Non-Respiratory © 2026 QuidelOrtho Corporation. All rights reserved. | 15(1) See Basis of Presentation on slide 3 for additional information. Q2 2026 Financial Results Presentation | August 6, 2026 Three Months Ended 2025 2026 Second Quarter Q1 Q2 Q3 Q4 Q1 Q2 Percent Change Currency Impact Constant Currency (1) Respiratory Revenue $119.8 $46.7 $112.3 $123.3 $67.9 $47.9 2.6% 0.1% 2.5% Non-Respiratory Revenue 573.0 567.2 587.6 600.3 551.9 583.0 2.8% 1.0% 1.8% Total Revenue $692.8 $613.9 $699.9 $723.6 $619.8 $630.9 2.8% 0.9% 1.9% Year to Date 2025 2026 Six Months 6 Months 9 Months Year 6 Months Percent Change Currency Impact Constant Currency (1) Respiratory Revenue $166.5 $278.8 $402.1 $115.8 (30.5)% 0.2% (30.7)% Non-Respiratory Revenue 1,140.2 1,727.8 2,328.1 1,134.9 (0.5)% 1.8% (2.3)% Total Revenue $1,306.7 $2,006.6 $2,730.2 $1,250.7 (4.3)% 1.6% (5.9)% In millions In millions
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© 2026 QuidelOrtho Corporation. All rights reserved. | 16 Non-GAAP Reconciliations © 2026 QuidelOrtho Corporation. All rights reserved. | 16(1) See Basis of Presentation on slide 3 for additional information. Q2 2026 Financial Results Presentation | August 6, 2026 In millions In millions Three Months Ended June 28, 2026 June 29, 2025 Percent Change Currency Impact Constant Currency (1) Total revenues $630.9 $613.9 2.8% 0.9% 1.9% China revenue 67.8 83.4 (18.7)% 4.6% (23.3)% Total revenues excluding China $563.1 $530.5 6.1% 0.2% 5.9% Three Months Ended June 28, 2026 June 29, 2025 Percent Change Currency Impact Constant Currency (1) Labs $382.9 $369.7 3.6% 1.2% 2.4% China Labs 56.1 69.8 (19.6)% 4.6% (24.2)% Total Labs revenues excluding China $326.8 $299.9 9.0% 0.2% 8.8% Three Months Ended June 28, 2026 June 29, 2025 Percent Change Currency Impact Constant Currency (1) Immunohematology $134.2 $132.3 1.4% 0.7% 0.7% China Immunohematology 6.7 10.8 (38.0)% 3.8% (41.8)% Total Immunohematology revenues excluding China $127.5 $121.5 4.9% 0.3% 4.6% Three Months Ended June 28, 2026 June 29, 2025 Percent Change Currency Impact Constant Currency (1) Triage $32.9 $29.8 10.4% 1.5% 8.9% All other 75.3 63.2 Point of Care revenue $108.2 $93.0 16.3% 0.6% 15.7% In millions In millions In millions In millions
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© 2026 QuidelOrtho Corporation. All rights reserved. | 17 Non-GAAP Reconciliations – Adjusted EBITDA © 2026 QuidelOrtho Corporation. All rights reserved. | 17 Q2 2026 Financial Results Presentation | August 6, 2026 Fiscal Quarter Year to Date In millions Q2 2026 Q2 2025 Q2 2026 Q2 2025 Net loss $ (92.9) $ (255.4) $ (184.7) $ (268.1) Depreciation and amortization 116.7 110.3 229.6 217.4 Interest expense, net 54.7 40.5 105.8 80.5 Provision for income taxes 11.7 25.8 24.0 29.7 Restructuring, integration and other charges 6.5 178.9 10.9 195.0 Amortization of deferred cloud computing implementation costs 9.2 6.8 17.2 11.1 Employee compensation charges 4.5 — 10.0 — Tax indemnification expense 3.3 — 3.3 — EU medical device regulation transition costs 0.7 0.1 1.4 0.3 Loss (gain) on investments 8.1 (1.0) 9.0 (1.3) Other adjustments 6.8 0.8 11.5 2.0 Adjusted EBITDA $ 129.3 $ 106.8 $ 238.0 $ 266.6
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