QuidelOrtho Q1 revenue dips 10.5% amid weak respiratory season; updates 2026 guidance lower

QuidelOrtho reported a 10.5% revenue decline to $620 million in Q1 2026, driven by a weak respiratory season and disruptions in China and the Middle East. The company posted a GAAP net loss of $92 million but highlighted growth in immunohematology and completed the LEX Diagnostics acquisition to boost molecular diagnostics. It lowered its full-year 2026 revenue and earnings guidance due to ongoing market challenges and pending China pricing guideline changes. QuidelOrtho remains focused on expanding margins and cash flow with new product launches in the U.S. and international markets.