QuidelOrtho Corporation (NASDAQ:QDEL) Q3 2023 Earnings Call Transcript

Douglas Bryant : You are right that the play there for Savannah is to meet the need of bringing molecular testing closer to the patients. And so we would see that as an unmet need that has existed for some time and has been addressed in part by other companies. We happen to think our solution, given its speed and the ease of use and the comments that we’re getting from potential customers. We think that we will be successful. But I will say that if we weren’t successful, somebody else in the space would be molecular testing needs to be closer to the patient. That need has been in there for a while. We’re simply trying to do it and address it in a better way. But if we didn’t get it done, if you’re looking for what the trend is, the trend is going to be that it’s going to be decentralized for sure.

And I didn’t understand, John, your question on the backlog of Savannah. We do have inventory. We do have inventory that we built in anticipation of a launch early 2024. Frankly speaking, we would love to have shipped a lot more boxes in but we’re not cleared yet. But again, I’m confident that we will be, and we’ll be ready to launch.

John Sourbeer : Got it. Appreciate that. And then maybe just a follow-up on the VITROS platform. And I just want to make sure I understand here, but have you seen any extension or change in the actual sales cycle there throughout the year?

Douglas Bryant : No, I’d say not. No. I think seen any significant macro changes in terms of capital availability or decisions delayed. So it’s been a fairly steady for a couple of years now.

Joseph Busky : Globally, we still average broadly 50-50 between cash yields and pre-age arrivals. That hasn’t changed.

Douglas Bryant : Right. And but the speed with which orders are coming – I don’t see the customer behaving differently in terms of making decisions differently. And we do seem to be winning a few more than we normally would at this stage. But I don’t see anything macro, John, that would impact clinical chemistry and/or immunoassay sales.

John Sourbeer : Got it. Thanks for taking the question.

Douglas Bryant : Thank you, John.

Operator: There are no further questions at this time. So I’ll pass the call back to the management team for any closing remarks.

Douglas Bryant : I’ll just say, on behalf of the team, thanks for your interest. Thanks for joining the call. We’ll talk soon.

Operator: That concludes today’s conference call. Thank you for your participation. You may now disconnect your lines.