Recent Updates — QDEL
On September 23, 2026, QuidelOrtho Corporation entered into Amendment No. 1 to its existing credit agreement with Bank of America and other lenders. The amendment resets financial covenant levels through the fiscal quarter ending September 30, 2029, providing a Covenant Relief Period. During this period, maximum Consolidated Leverage Ratios range from 5.50:1.00 down to 4.25:1.00, while minimum Consolidated Interest Coverage Ratios increase from 2.25:1.00 to 3.00:1.00. The amendment also sets initial interest rates at 1.50% for base rate loans and 2.50% for Term SOFR loans until the first compliance certificate after September 28, 2026. QuidelOrtho operates in the medical diagnostics industry.
QuidelOrtho Corporation reported second quarter 2026 results ending June 28, 2026, with total revenue of $631 million, up 3% year-over-year. The company posted a GAAP net loss of $93 million and adjusted diluted EPS of $0.13. Driven by pricing changes in China and a softer respiratory environment, QuidelOrtho significantly lowered its full-year 2026 guidance: total revenue is now projected at $2.52–$2.60 billion (down from $2.70–$2.75 billion), adjusted EBITDA at $540–$560 million (down from $615–$630 million), and adjusted diluted EPS at $0.65–$0.90 (down from $1.80–$2.00). The company also withdrew its free cash flow guidance. QuidelOrtho operates in the medical diagnostics industry, providing clinical chemistry, immunoassay, immunohematology, and molecular testing solutions.
QuidelOrtho Corporation appointed Micah Young as Chief Financial Officer and principal financial officer, effective July 6, 2026. Young succeeds Joseph M. Busky, who is retiring. Young previously served as EVP and CFO of Masimo Corporation. His compensation package includes a $750,000 annual base salary, a 100% target cash bonus, a $500,000 sign-on bonus, and a $6,500,000 inducement RSU grant. Busky will transition to a special advisor role for up to 24 months following the effective date. QuidelOrtho is a medical technology company providing diagnostic solutions.