Quidel Expects Q1 Revenues To More Than Double On Higher COVID-19 Test Sales

Quidel Corp QDEL expects Q1 FY22 sales of $990 million - $1 billion, up 164% - 166% Y/Y, beating the consensus of $817.30 million.

• The company expects COVID-19 product revenues of $836 million, including approximately $657 million in QuickVue COVID-19 test revenue and roughly $138 million in Sofia SARS antigen test revenue.
• "In the first quarter of 2022, we sold approximately 113 million QuickVue COVID-19 antigen tests and about 12 million Sofia SARS antigen tests," said Douglas Bryant, President, and CEO.
• Also Read: Quidel's Q4 Earnings Beat Street View Despite 21% Decline In Sales.
• "We also expanded our installed base of Sofia analyzers to 79,000 instrument placements, which further widens our point-of-care footprint and increases opportunities to introduce our full portfolio of assays to patients and healthcare providers," Bryant added.
• Price Action: QDEL shares closed 0.39% higher at $118.10 during after-hours trading on Thursday.