QuidelOrtho Corp
For the period ended Dec 28, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
QDEL$12.09+13.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Summary of Abbreviated Terms
QuidelOrtho Corporation and its consolidated subsidiaries may be referred to as QuidelOrtho, the Company, we, our or us in this Annual Report, unless the context otherwise indicates. Throughout this Annual Report, we have used terms which are defined below:
| ABO | Accumulated benefit obligation |
|---|---|
| AOCI | Accumulated other comprehensive loss |
| ASC | Accounting Standards Codification |
| ASU | Accounting Standards Update |
| Audit Committee | Audit Committee of the Board |
| BARDA | Biomedical Advanced Research and Development Authority |
| BLA | Biologics License Application |
| Board | Board of directors |
| CAT | Column agglutination technology |
| CCPA | California Privacy Rights Act of 2020 |
| CEO | Chief Executive Officer |
| CFO | Chief Financial Officer |
| cGMPs | Current good manufacturing practices |
| CIIOs | Critical information infrastructure |
| CISO | Chief Information Security Officer |
| CLIA | The FDA’s Clinical Laboratory Improvement Amendment of 1988 |
| CMS | Centers for Medicare & Medicaid Services |
| CODM | Chief Operating Decision Maker |
| Combinations | Business combination consummated by Quidel and Ortho on May 27, 2022, pursuant to the Business Combination Agreement entered into as of December 22, 2021, by and among Quidel, Ortho, QuidelOrtho (formerly Coronado Topco, Inc.), Orca Holdco, Inc., Laguna Merger Sub, Inc., and Orca Holdco 2, Inc. |
| Credit Agreement | Credit agreement, dated August 21, 2025, by and among the Company, as borrower, Bank of America, N.A., as administrative agent and swing line lender, and the other lenders and L/C issuers party thereto |
| CRL | Complete Response Letter |
| EBITDA | Earnings before interest, taxes, depreciation and amortization |
| EEA | European Economic Area |
| EMEA | Europe, the Middle East and Africa |
| EPS | Loss per share |
| ERP | Enterprise resource planning |
| ESPP | QuidelOrtho Corporation Amended and Restated 1983 Employee Stock Purchase Plan |
| EU | European Union |
| EU IVDR | EU In Vitro Diagnostic Regulation (EU 2017/746) |
| EU MDR | EU Medical Device Regulation (EU 2017/745) |
| EUA | Emergency use authorization |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| FCA | False Claims Act |
| FCPA | U.S. Foreign Corrupt Practices Act |
| FDA | U.S. Food and Drug Administration |
| FDCA | U.S. Federal Food, Drug, and Cosmetic Act |
| Financing | The Term Loan together with the Revolving Credit Facility |
|---|---|
| FTC | Federal Trade Commission |
| GAAP | Generally accepted accounting principles in the U.S. |
| GDPR | General Data Protection Regulation 2016/679 |
| Grifols | Grifols Diagnostic Solutions, Inc. |
| Grifols Agreement | Agreement governing the Company’s Joint Business between Ortho Inc. and Grifols, originally entered into in 1989 with a 50-year term, as amended |
| HHS | U.S. Department of Health and Human Services |
| HIPAA | Health Insurance Portability and Accountability Act of 1996 |
| IND | Investigational New Drug Application |
| IPR&D | In-process research and development |
| ISO | International Organization for Standardization |
| IT | Information technology |
| IVD | In vitro diagnostics |
| Joint Business | Collaboration arrangement between Ortho and Grifols |
| JPAC | Japan and Asia Pacific |
| MACRA | The Medicare Access and CHIP Reauthorization Act of 2015 |
| MDSAP | Medical Device Single Audit Program |
| NMPA | China’s National Medical Products Administration, formerly CFDA |
| NOL | Net operating loss |
| OBBBA | One Big Beautiful Bill Act |
| OCI | Other comprehensive income (loss) |
| Optimization Plan | Multi-year, enterprise-wide cost-reduction, strategic productivity and margin improvement initiatives that the Company launched in the second quarter of 2025 |
| Ortho | Ortho Clinical Diagnostics Holdings plc |
| OTC | Over-the-counter |
| PAMA | Protecting Access to Medicare Act of 2014 |
| PBO | Projected benefit obligations |
| PCR | Polymerase chain reaction |
| PHI | Protected health information |
| PIPEDA | Canada’s Personal Information Protection and Electronic Documents Act |
| PIPL | China’s Personal Information Protection Law |
| PMA | Premarket approval |
| POC | Point-of-care |
| POL | Physician office laboratory |
| PPACA | The Patient Protection and Affordable Care Act, as amended by the Health Care and Education Affordability Reconciliation Act |
| Prior Credit Agreement | Credit agreement, dated May 27, 2022, by and among the Company, as borrower, Bank of America, N.A., as administrative agent and swing line lender, and the other lenders and L/C issuers party thereto |
| QMS | Quality Management System |
| QSR | Quality System Regulation |
| Quidel | Quidel Corporation |
| R&D | Research and development |
| RPA | Receivables purchase agreement, as amended on March 31, 2023, by and among Ortho-Clinical Diagnostics US FinanceCo I, LLC, as Seller, our wholly owned receivables financing subsidiary, Wells Fargo Bank, N.A., as administrative agent, Ortho-Clinical Diagnostics, Inc., as the Master Servicer and as an Originator, Quidel, as an Originator, and certain Purchasers |
|---|---|
| Revolving Credit Facility | $700.0 million revolving credit facility under the Credit Agreement |
| ROU | Right-of-use |
| RSUs | Restricted stock units; includes time-based RSUs, performance-based RSUs and restricted stock awards |
| RSV | Respiratory syncytial virus |
| SAVANNA Exit | Discontinuation of the development of the SAVANNA platform |
| SCCs | Standard contractual clauses |
| SEC | Securities and Exchange Commission |
| Securities Act | Securities Act of 1933, as amended |
| SGC | Security Governance Committee |
| SOFR | Secured overnight financing rate |
| Stock Repurchase Program | A stock repurchase program allowing the Company to repurchase up to $300.0 million of its common stock through August 17, 2024, which was authorized by our Board of Directors on August 17, 2022 |
| Term Loans | Collectively under the Credit Agreement: (i) a $1.15 billion senior secured term loan A facility (the “Term Loan A”), (ii) a $100.0 million senior secured delayed draw term loan A facility (the “DDTL Term Loan A”; together with the Term Loan A, the “Term Loan A Facilities”), and (iii) a $1.45 billion senior secured term loan B facility (the “Term Loan B”) |
| U.K. | United Kingdom |
| U.K. ICO | U.K. Information Commissioner’s Office |
| U.K. IDTA | U.K. International Data Transfer Agreement |
| U.S. | United States |
| USD | United States dollar |
| VIP | ORTHO VERSEIA Integrated Processor |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.