Quarterly Revenue Growth
Consolidated revenues of $2.81B in Q4, up 7.1% year-over-year; consolidated organic revenues grew 6.4%.
Volume Expansion
Total requisitions increased 8.5% versus 2024 (organic volume +7.9%); excluding Corewell and Fresenius organic volume growth accelerated to 4.1%.
Earnings and Profitability Progress
Reported Q4 EPS $2.18 and adjusted EPS $2.42 vs prior year $1.95 and $2.23 (adjusted EPS up ~8.5% year-over-year); reported operating income $386M (13.8% of revenues) and adjusted operating income $429M (15.3%).
Full-Year Financial Achievements
Delivered double-digit growth in full-year revenues and EPS; cash from operations rose to $1.89B for 2025 from $1.33B in 2024 (approximately +42%).
Strong Consumer Channel Performance
Consumer channel delivered nearly $250M in revenue for the full year; direct-to-consumer (questhealth.com) grew strongly (approx. 35% growth for questhealth.com in 2025 and a ~$100M run-rate), and consumer-initiated testing exceeded the >20% growth expectation.
Advanced Diagnostics Momentum
Double-digit revenue growth across advanced diagnostic areas (autoimmune, brain health AD-Detect, oncology MRD, cardiometabolic); launched Analyzer autoimmune solution, 85-biomarker Elite Health Profile, flow MRD test for myeloma and continued AD-Detect adoption.
Operational Efficiency Achieved
INFIGURATE program achieved full-year target of 3% annual cost savings/productivity improvements in 2025; deployed automation and AI (automated sample processing, collaborative accessioning, Hologic system in two labs).
AI and Automation Benefits
Virtual AI agent reduced routine logistics calls by up to 50%; new AI logistics tool expected to reduce courier transportation times as rolled out in 2026.
Positive 2026 Guidance
2026 guidance: revenue $11.70B–$11.82B (growth 6.0%–7.1%); reported EPS $9.45–$9.65; adjusted EPS $10.50–$10.70; cash from operations ~ $1.75B; capex ~$550M; operating margin expected to expand.
Strategic Hospital and CoLab Expansion
CoLab Solutions expected to generate ~ $1B in annual revenue in 2026; Corewell CoLab relationship to add ~ $250M organic revenue in 2026 and a larger joint-lab buildout planned to serve Michigan in 2027.