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QuidelOrtho cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.4M in Q3 2026 · −$117M over twelve months

Operating cash flow$19.6M
Capital spending−$21.0M
Free cash flow−$1.4M
Cash conversion cycle160 days

Analysis

In Q3 2026, QuidelOrtho generated $19.6M of operating cash flow and spent $21.0M on capital projects, leaving free cash flow of −$1.4M.

Over the twelve months to Sep 27, 2026, operating cash flow was $7.9M; the largest uses were capital spending ($125M), other investing ($86.8M), other financing ($5.9M); besides operations, cash came from net borrowing (+) / repaid (−) ($276M), shares issued ($4.5M); the cash balance rose by $68.3M.

Operating cash flow was $19.6M against net income of −$53.8M. The largest differences: depreciation & amortization +$120M, inventory −$65.5M, receivables −$22.5M.

Its cash conversion cycle was 160 days (receivables 53 + inventory 174 − payables 68).

Free cash flow

QuidelOrtho: free cash flow by quarterQuidelOrtho: free cash flow by quarter$16.5MQ4 2024$9.4MQ1 2025−$84.3MQ2 2025−$95.5MQ3 2025$87.4MQ4 2025−$67.0MQ1 2026−$136MQ2 2026−$1.4MQ3 2026
Operating cash flow less capital spending.
QuidelOrtho: operating cash flow against capital spendingQuidelOrtho: operating cash flow against capital spendingOperating cash flowCapital spending$63.7M$47.2MQ4 2024$65.6M$56.2MQ1 2025−$46.8M$37.5MQ2 2025−$45.5M$50.0MQ3 2025$132M$44.5MQ4 2025−$33.0M$34.0MQ1 2026−$111M$25.5MQ2 2026$19.6M$21.0MQ3 2026
Latest (Q3 2026): Operating cash flow $19.6M, Capital spending $21.0M.

Capital allocation, year by year

QuidelOrtho: where the cash came from (up) and went (down), by fiscal yearQuidelOrtho: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $806MFY2021: Net borrowing −$300KFY2021: Shares issued $7.6MFY2021: Capital spending −$293MFY2021: Buybacks −$104M$814MFY2021FY2022: Operating cash flow $885MFY2022: Net borrowing $346MFY2022: Shares issued $26.4MFY2022: Capital spending −$141MFY2022: Acquisitions −$1.5BFY2022: Buybacks −$74.3M$1.3BFY2022FY2023: Operating cash flow $280MFY2023: Net borrowing −$454MFY2023: Shares issued $11.6MFY2023: Capital spending −$209MFY2023: Buybacks −$7.2M$292MFY2023FY2024: Operating cash flow $83.0MFY2024: Net borrowing $53.4MFY2024: Shares issued $5.0MFY2024: Asset sales $9.3MFY2024: Capital spending −$195M$151MFY2024FY2025: Operating cash flow $105MFY2025: Net borrowing $155MFY2025: Shares issued $6.1MFY2025: Capital spending −$188M$266MFY2025
Over these 5 years operating cash flow totalled $2.2B; the largest uses were acquisitions ($1.5B) and capital spending ($1.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$166M
Debt$2.7B
Net debt$2.5B
Due within a year$178M

QuidelOrtho's operations bring cash in ($7.9M over twelve months), and it spends more than that on capital projects: a gap of $117M funded from its $166M of cash and investments and from borrowing ($2.7B of debt, $178M due within a year). That is a choice to invest, not a cash runway running down.

QuidelOrtho: debt maturities by year (FY2025)QuidelOrtho: debt maturities by year (FY2025)$178MYear 1$76.3MYear 2$77.2MYear 3$54.0MYear 4$934MYear 5$1.4BAfter year 5
Principal due in each year as disclosed in the annual report, against $166M of cash and investments now.

Where the cash came from and went

QuidelOrtho: sources (+) and uses (−) of cash, Q3 2026QuidelOrtho: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$44.1MCash drawn (+) / kept (−)−$43.0MCapital spending−$21.0MOperating cash flow$19.6MShares issued$2.2MOther investing$1.7MAcquisitions−$1.6MTaxes on employees’ shares−$1.2MOther financing−$1.0MExchange rates$200K
QuidelOrtho: sources (+) and uses (−) of cash, TTM to Q3 2026QuidelOrtho: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$276MCapital spending−$125MOther investing−$86.8MCash drawn (+) / kept (−)−$68.3MOperating cash flow$7.9MOther financing−$5.9MShares issued$4.5MTaxes on employees’ shares−$3.6MExchange rates$1.0M

From profit to cash

QuidelOrtho: net income to operating cash flow, Q3 2026QuidelOrtho: net income to operating cash flow, Q3 2026Net income−$53.8MDepreciation & amortization$120MStock-based pay$12.0MReceivables−$22.5MInventory−$65.5MPayables$19.5MEmployee-related liabilities−$600KOther liabilities−$5.0MIncome taxes payable−$10.8MOperating cash flow$19.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265317468160
Q2 20265115661147
Q1 20265715267142
Q4 20255113456129
Q3 20254314954138
Q2 20254215360134
Q1 20253714362118
Q4 20243713259111

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$19.6M−$21.0M−$1.6M$44.1M$2.2M−$43.0M−$1.4M
Q2 2026−$111M−$25.5M—$201M$400K$17.0M−$136M
Q1 2026−$33.0M−$34.0M—$36.9M$1.8M$29.4M−$67.0M
Q4 2025$132M−$44.5M—−$10.8M$100K−$71.7M$87.4M
Q3 2025−$45.5M−$50.0M—$44.0M$2.9M$53.6M−$95.5M
Q2 2025−$46.8M−$37.5M—$106M$100K−$24.5M−$84.3M
Q1 2025$65.6M−$56.2M—$16.0M$3.0M−$28.7M$9.4M
Q4 2024$63.7M−$47.2M—−$68.0M—$45.5M$16.5M

QuidelOrtho: income statement and cash flow

QuidelOrtho, Q3 2026: revenue $619M (-12% year over year), operating margin -1.2%. The chart follows the revenue to costs, profit and cash.

QuidelOrtho: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.