Quidel Corporation (QDEL) saw its stock surge 9.66% in the pre-market trading session on Thursday, driven by the company's better-than-expected Q4 2024 financial results and optimistic 2025 guidance, fueled by ongoing cost reduction initiatives.
Despite a 4% year-over-year decline in Q4 2024 revenue to $708 million, primarily due to lower COVID-19 and flu testing demand, Quidel's adjusted EBITDA margin of 21% and adjusted diluted EPS of $0.63 exceeded analysts' expectations. The company's strong performance can be attributed to its focus on non-respiratory revenue, which accounted for $2.3 billion of its $2.8 billion full-year 2024 revenue.
Looking ahead, Quidel provided an encouraging outlook for 2025, with revenue guidance ranging from $2.6 billion to $2.81 billion and adjusted EBITDA guidance of $575 million to $615 million, representing a 22% margin. This positive guidance is underpinned by the company's ongoing cost reduction initiatives, which include procurement savings and other measures aimed at driving margin expansion by 250 basis points in 2025.
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