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OraSure (OSUR) 2019 Earnings Call Presentation
2025-07-07 13:35
Financial Performance & Guidance - Q1 revenue reached $30.1 million, exceeding consensus estimates[10] - Q2 revenue guidance is projected between $40.0 million and $42.0 million, with net income of approximately $0.02 per share[11] - Full-year revenue guidance is set at $170 million to $175 million, with net income between $0.22 and $0.24 per share[11] - The company held $183.6 million in cash and investments as of March 31, 2019[11] Market Growth - Microbiome market revenue increased by 83% compared to Q1 2018[11] - Genomics sales in Asia increased by 231% compared to Q1 2018[11] - Domestic HCV revenues increased by 12% compared to Q1 2018[11] - International HCV sales increased by 119% compared to Q1 2018, primarily in Asia and Eastern Europe[11] Strategic Focus - The company is an industry leader in DNA/RNA sample self-collection, stabilization, and preparation products, as well as rapid point-of-care infectious disease testing[8] - The company is expanding further in established markets with strong demand for OraQuick HIV Self Test and OraQuick HCV test[8]
OraSure (OSUR) FY Earnings Call Presentation
2025-07-07 13:31
COVID-19 Related Opportunities - OraSure has multiple near-term COVID-19 opportunities, including two oral fluid self-collection devices for molecular testing that have received EUAs and CE-IVD marks[3] - The company is pursuing EUA for a lab-based oral fluid antibody test and developing a rapid antigen self-test[3] - OraSure is expanding manufacturing capacity to meet anticipated demand for COVID-19 tests, aiming to reach 55 million total tests per year by Q1 2021 and 70 million total tests per year by Q3 2021[28] - The company aims to increase total capacity for all molecular collection kits to 75 million units per year by Q2 2021 and 80 million kits per year by Q3 2021[29] - OraSure is also expanding capacity for Sars-Cov-2 Oral Fluid Antibody Tests from 10 million units per year to 20 million tests per year by Q4 2021[29] HIV Self-Testing - 21% of the 38 million people with HIV do not know their status, highlighting the need for accessible testing[32] - OraSure is the international HIV self-test market share leader with oral fluid self-collection and in-home results[33] - The Plan for America continues with $267 million in FY 2020 funding and a meaningful increase proposed for FY 2021 to end the HIV epidemic[35] Other Growth Drivers - Market leading microbiome products and services offer tremendous growth potential[3] - The company has $263.7 million in cash on the balance sheet with no debt, supporting ongoing business development activities[3] - Multiple research reports project mid-teens growth for the microbiome market from 2019-2024[39]
OraSure Technologies(OSUR) - 2025 FY - Earnings Call Presentation
2025-07-07 13:29
Investment Highlights - OraSure Technologies (OTI) is positioned to return to growth in its core business in 2025[5] - OTI has a differentiated product pipeline aligned with long-term healthcare trends, with potential product milestones expected to accelerate growth in 2025 and beyond[5] - OTI has an opportunity for significant operating margin leverage as volumes grow[5] - As of Q3 2024, OTI has $279 million of cash and no debt[5, 37] Strategic Transformation - OTI is focused on strengthening its foundation, elevating core growth, and accelerating profitable growth[7, 42] - OTI aims to improve access, quality, and value of healthcare with innovation in effortless tests and sample management solutions[9] - OTI is expanding its diagnostics portfolio with new tests and next-generation platform expansion, prioritizing instrument-free tests[12, 13] - OTI's acquisition of Sherlock Biosciences strengthens and broadens its diagnostic portfolio with molecular testing capabilities[19] - OTI anticipates submitting Sherlock's disposable self-test for CT/NG to the FDA by the end of 2025, targeting a $1.5 billion and growing market[22] Financial Performance - OTI is targeting a path to 50% adjusted gross margin[40] - The company's non-GAAP gross margin was 40% in FY23 and an estimated 40% in FY24[38] - Core revenue was $143 million in FY23 and an estimated $138 million in FY24, while COVID-19 revenue was $115 million in FY23 and an estimated $45 million in FY24[38]
Orasure Technologies: Multiple Shots To Deliver Value
Seeking Alpha· 2025-05-28 14:25
Core Viewpoint - OraSure Technologies (NASDAQ: OSUR) is identified as undervalued with a robust balance sheet, despite facing increased market scrutiny in the healthcare sector [1]. Company Analysis - Since December 2024, OSUR's stock has become cheaper, indicating a potential investment opportunity amidst market challenges [1]. - The company is perceived to have relatively low risk due to its strong financial position [1]. Analyst Background - The analyst has extensive experience in investment banking, focusing on both public and private market opportunities, and has a strong educational background with an MBA from a Top-20 US Business School [1]. - The analyst has a history of success in stock pitching competitions and has interned at various investment firms, enhancing their research capabilities [1]. - The analyst emphasizes a long-only investment strategy, influenced by value investing principles, and focuses on companies with competitive advantages and growth prospects [1].
OraSure Technologies (OSUR) Reports Q1 Loss, Tops Revenue Estimates
ZACKS· 2025-05-07 23:01
Core Insights - OraSure Technologies reported a quarterly loss of $0.18 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, and a decline from earnings of $0.04 per share a year ago, indicating an earnings surprise of -20% [1] - The company posted revenues of $29.93 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.73%, but down from $54.13 million in the same quarter last year [2] - OraSure shares have declined approximately 22.4% since the beginning of the year, contrasting with the S&P 500's decline of -4.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.12 on revenues of $33.46 million, and for the current fiscal year, it is -$0.40 on revenues of $136.26 million [7] - The estimate revisions trend for OraSure is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the shares are expected to perform in line with the market in the near future [6] Industry Context - The Medical - Products industry, to which OraSure belongs, is currently ranked in the bottom 28% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5]
OraSure Technologies(OSUR) - 2025 Q1 - Earnings Call Transcript
2025-05-07 22:02
Financial Data and Key Metrics Changes - Total revenue in Q1 was $29,900,000, with core revenue of $29,500,000, reflecting a 2% decrease year over year [26][27] - GAAP gross margin for Q1 was 41.1%, while non-GAAP gross margin was 41.7%, consistent with expectations [28] - Operating cash flow in Q1 was negative $19,700,000, aligning with expectations due to investments in innovation [28] Business Line Data and Key Metrics Changes - Diagnostics revenue grew 8% year over year, generating $17,700,000 in Q1 [26] - Sample Management Solutions (SMS) revenue decreased 16% year over year to $9,100,000, primarily due to disruption at a large customer in the consumer genomics segment [27][9] - Core revenue was flat year over year after adjusting for the exit from the risk assessment testing business [9] Market Data and Key Metrics Changes - International diagnostics business remained steady, with growth driven by initial orders for the WHO PQ listed hepatitis C self-test [10][12] - The US diagnostics market faced increased headwinds due to budget cuts and staffing reductions at public health organizations [14][16] - Overall market trends in SMS were mixed, with growth in clinical genomics and animal health offset by softness in academic and research labs [11] Company Strategy and Development Direction - The company is focused on three pillars of transformation: strengthening the foundation, elevating core growth, and accelerating profitable growth [5] - Integration of Sherlock Biosciences is progressing well, enhancing the product pipeline with molecular diagnostics innovations [7] - The company plans to launch new products in 2025, including microbiome extraction kits and blood proteomics sample stabilization [35] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing uncertainty in funding for public health initiatives but expressed confidence in the company's ability to navigate these challenges [12][14] - The company is exploring alternative funding sources and maintaining strong relationships with existing customers [39][40] - Management remains optimistic about the potential for growth in international markets despite current funding uncertainties [39] Other Important Information - The board authorized a stock repurchase program of up to $40,000,000 over the next two years, funded from cash on hand [8][29] - The company is transitioning to in-house manufacturing, expected to be substantially complete by the end of Q2 [18][19] Q&A Session Summary Question: What is the outlook for international revenue and HIV testing demands given funding uncertainties? - Management indicated that conversations with funding sources are ongoing and that there is a steady but flat trajectory for international revenue [39][40] Question: Did the company see any pull forward in demand ahead of possible tariffs? - Management confirmed there was no pull forward in demand and noted minimal impact from tariffs due to the transition to US manufacturing [42][43] Question: What is the expected impact of the Together, Take Me Home initiative? - Management confirmed a $4,000,000 headwind for fiscal 2025, with $1,500,000 already recognized in Q1 [49][50] Question: What is the status of the SMS genomics customer and future ordering activity? - Management stated there is no visibility for future orders from the disrupted customer but emphasized growth in SMS from other customers [51][54] Question: What is the expected impact of PEPFAR funding disruptions? - Management noted that the PEPFAR impact for Q1 was around $1,000,000, with expectations for similar levels in Q2 [56][57]
OraSure Technologies(OSUR) - 2025 Q1 - Quarterly Report
2025-05-07 20:19
Part I. Financial Information [Financial Statements](index=8&type=section&id=Item%201.%20Financial%20Statements) OraSure Technologies, Inc. presents unaudited consolidated financial statements for Q1 2025, showing decreased revenue, a **$16,040 thousand** net loss, and the impact of the Sherlock Biosciences acquisition [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$457,607** | **$479,659** | | Cash and cash equivalents | $247,569 | $267,763 | | Total current assets | $313,781 | $333,220 | | **Total Liabilities** | **$61,325** | **$69,321** | | Total current liabilities | $25,422 | $33,483 | | **Total Stockholders' Equity** | **$396,282** | **$410,338** | - Total assets decreased by **$22,052 thousand** from December 31, 2024, to March 31, 2025, primarily due to a **$20,194 thousand** decrease in cash and cash equivalents[16](index=16&type=chunk) [Consolidated Statements of Operations](index=9&type=section&id=Consolidated%20Statements%20of%20Operations) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net Revenues** | **$29,931** | **$54,132** | | Gross Profit | $12,299 | $24,065 | | Operating Loss | $(17,750) | $(7,093) | | **Net Loss** | **$(16,040)** | **$(3,584)** | | Diluted Loss Per Share | $(0.21) | $(0.05) | - Net revenues decreased by **44.7%** year-over-year, primarily due to a sharp decline in COVID-19 product sales. The net loss widened significantly from **$3,584 thousand** in Q1 2024 to **$16,040 thousand** in Q1 2025[18](index=18&type=chunk)[54](index=54&type=chunk) [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(19,733) | $6,739 | | Net cash provided by (used in) investing activities | $370 | $(46,528) | | Net cash used in financing activities | $(953) | $(1,298) | | **Net Decrease in Cash** | **$(20,194)** | **$(43,262)** | - The company experienced a significant shift in operating cash flow, from a **$6,739 thousand** inflow in Q1 2024 to a **$19,733 thousand** outflow in Q1 2025. This was primarily driven by the net loss and changes in working capital, including payment of year-end bonuses[23](index=23&type=chunk)[117](index=117&type=chunk) [Notes to the Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) Key notes detail inventory valuation changes, the Sherlock Biosciences acquisition, a steep drop in COVID-19 sales, workforce reductions, and a new stock repurchase program - The company changed its inventory valuation method from FIFO to average cost in Q1 2025 for greater precision, with an immaterial effect[27](index=27&type=chunk) - In December 2024, the company acquired Sherlock Biosciences for **$5.0 million** cash and up to **$20.0 million** contingent consideration, expanding its rapid diagnostics portfolio[73](index=73&type=chunk)[74](index=74&type=chunk)[75](index=75&type=chunk) Net Revenues by Product Line (in thousands) | Product Line | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | HIV | $12,900 | $13,380 | | Sample Management Solutions | $9,110 | $10,822 | | HCV | $4,333 | $3,000 | | COVID-19 | $461 | $23,128 | - COVID-19 product revenue plummeted from **$23,128 thousand** in Q1 2024 to just **$461 thousand** in Q1 2025, with a single U.S. government customer accounting for **40%** of Q1 2024 net revenues[54](index=54&type=chunk)[100](index=100&type=chunk) - In March 2025, the Board authorized a new **$40.0 million** stock repurchase program over two years, with no shares repurchased under it in Q1 2025[64](index=64&type=chunk) [Management's Discussion and Analysis (MD&A)](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **45%** Q1 2025 revenue decrease to **$29,931 thousand** due to a **98%** drop in COVID-19 sales, leading to a wider operating loss and reduced cash position [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Net Revenues by Category (in thousands) | Category | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Diagnostics (Core) | $17,689 | $16,380 | 8% | | Sample Management Solutions | $9,110 | $10,822 | (16)% | | COVID-19 Diagnostics | $457 | $23,097 | (98)% | | **Total Net Revenues** | **$29,931** | **$54,132** | **(45)%** | - The **98%** decrease in COVID-19 Diagnostics revenue resulted from the fulfillment of U.S. government procurement contracts for InteliSwab® tests[100](index=100&type=chunk) - Consolidated gross profit margin fell to **41.1%** from **44.5%** due to a product mix shift away from high-margin InteliSwab® sales[103](index=103&type=chunk) - Operating expenses increased, with R&D up **24%** and G&A up **21%**, primarily due to Sherlock acquisition costs and higher legal fees[105](index=105&type=chunk)[107](index=107&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity Position (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $247,569 | $267,763 | | Working capital | $288,359 | $299,737 | - Cash and cash equivalents decreased by **$20,194 thousand** during the quarter, with net cash used in operating activities totaling **$19,733 thousand**, driven by net loss and a **$6,600 thousand** decrease in accrued expenses[115](index=115&type=chunk)[117](index=117&type=chunk) - The company expects existing cash to be sufficient for operations and capital expenditures over the next twelve months[120](index=120&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes occurred in the company's assessment of market risk sensitivity since its 2024 Annual Report on Form 10-K - There has been no material change in the company's assessment of its sensitivity to market risk since its 2024 Annual Report[123](index=123&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting - Management concluded the company's disclosure controls and procedures were effective as of March 31, 2025[124](index=124&type=chunk) - No material changes occurred in the company's internal control over financial reporting during Q1 2025[125](index=125&type=chunk) Part II. Other Information [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) Updates on two legal matters: patent litigation with Spectrum Solutions concluded, and a trade secret lawsuit against NowDiagnostics, Inc. is scheduled for trial - The Court of Appeals affirmed the District Court's judgment in favor of Spectrum Solutions in patent litigation on February 14, 2025[127](index=127&type=chunk) - The company filed a trade secret misappropriation complaint against NowDiagnostics, Inc., with a preliminary injunction entered and trial scheduled for March 9, 2026[128](index=128&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) New and supplemented risk factors include stock repurchase program impact, potential FDA disruptions, and increased geopolitical and economic risks from tariffs - A new risk factor highlights the **$40.0 million** stock repurchase program's potential to increase stock price volatility and reduce cash reserves[130](index=130&type=chunk)[131](index=131&type=chunk) - Potential disruptions at the FDA and other government agencies due to staffing or funding issues could delay product reviews and approvals[132](index=132&type=chunk)[133](index=133&type=chunk)[134](index=134&type=chunk) - Geopolitical and economic risks were supplemented, noting increased tariffs and trade protectionism could make offerings more expensive or non-competitive[135](index=135&type=chunk)[136](index=136&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) A new **$40.0 million** stock repurchase program was authorized in March 2025, replacing a prior one, with no shares repurchased under it in Q1, though shares were retired for tax obligations - A new **$40.0 million** stock repurchase program was authorized in March 2025 for two years, replacing the prior program[137](index=137&type=chunk) - During Q1 2025, **252,358** shares were retired to satisfy minimum tax withholdings on vested employee stock awards[137](index=137&type=chunk)[139](index=139&type=chunk)
OraSure Technologies(OSUR) - 2025 Q1 - Quarterly Results
2025-05-07 20:15
OraSure Q1 2025 Performance Overview [Financial Highlights](index=1&type=section&id=Financial%20Highlights) OraSure's Q1 2025 total net revenues decreased 45% to $29.9 million, with a wider operating loss of $17.8 million Revenue by Category | Revenue Category | Q1 2025 (in thousands) | Q1 2024 (in thousands) | % Change | | :--- | :--- | :--- | :--- | | Core Business | $29,470 | $30,131 | (2)% | | Molecular Services | $0 | $873 | (100)% | | COVID-19 | $461 | $23,128 | (98)% | | **Total Net Revenues** | **$29,931** | **$54,132** | **(45)%** | Key Financial Metrics | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **GAAP Gross Margin** | 41.1% | 44.5% | | **Non-GAAP Gross Margin** | 41.7% | 45.2% | | **GAAP Operating Loss** | ($17.8 million) | ($7.1 million) | | **Non-GAAP Operating Loss** | ($15.3 million) | ($0.3 million) | | **GAAP Net Loss** | ($16.0 million) | ($3.6 million) | | **Diluted GAAP EPS** | ($0.21) | ($0.05) | | **Diluted Non-GAAP EPS** | ($0.18) | $0.04 | - Within the core business, Diagnostics revenues grew **8%** year-over-year to **$17.7 million**, while Sample Management Solutions revenues decreased **16%** to **$9.1 million**[7](index=7&type=chunk) - The company's cash and cash equivalents were **$248 million** as of March 31, 2025[7](index=7&type=chunk) [Business and Operational Highlights](index=2&type=section&id=Recent%20Business%20Developments) OraSure advances its innovation pipeline, secures partnerships, divests a product line, and authorizes a $40 million stock repurchase - The company is making progress on its innovation roadmap, with multiple new product milestones planned for 2025 to drive future growth[3](index=3&type=chunk) - Key operational updates include: - Supporting Color Health's at-home cervical cancer risk screening test with the Colli-Pee™ collection device - Renewing the customer agreement with Myriad Genetics for Oragene™ Dx saliva collection kits - Divesting assets related to the Risk Assessment testing product line, with an expected exit in Q2 - The Board of Directors authorized a **$40 million** stock repurchase program over two years[3](index=3&type=chunk)[6](index=6&type=chunk)[13](index=13&type=chunk) [Q2 2025 Financial Guidance](index=4&type=section&id=Financial%20Guidance) For Q2 2025, OraSure forecasts total revenues between $28.5 million and $32.5 million, primarily from Core revenues Q2 2025 Financial Guidance | Guidance for Q2 2025 | Amount (in millions) | | :--- | :--- | | Total Revenues | $28.5 - $32.5 | | Core Revenues | $28.0 - $32.0 | | COVID-19 & Risk Assessment Revenues | ~$0.5 | [Detailed Financial Statements](index=5&type=section&id=Financial%20Data%20%28Unaudited%29) Unaudited Q1 2025 financial statements are presented, covering results of operations, balance sheets, and cash flows [Consolidated Results of Operations](index=5&type=section&id=Results%20of%20Operations) In Q1 2025, OraSure reported $29.9 million total revenues, $12.3 million gross profit, and a $16.0 million net loss Consolidated Results of Operations | (in thousands) | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Net revenues | $29,931 | $54,132 | | Gross profit | $12,299 | $24,065 | | Operating loss | ($17,750) | ($7,093) | | Net loss | ($16,040) | ($3,584) | | Diluted loss per share | ($0.21) | ($0.05) | Revenue by Segment | Revenue by Segment (in thousands) | Q1 2025 (in thousands) | Q1 2024 (in thousands) | % Change | | :--- | :--- | :--- | :--- | | Diagnostics | $17,689 | $16,380 | 8% | | Sample Management Solutions | $9,110 | $10,822 | (16)% | | Risk Assessment Testing | $1,420 | $2,080 | (32)% | | COVID-19 Diagnostics | $457 | $23,097 | (98)% | [Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20%28Unaudited%29) As of March 31, 2025, OraSure's total assets were $457.6 million, with cash at $247.6 million, and equity at $396.3 million Consolidated Balance Sheet | (in thousands) | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $247,569 | $267,763 | | Total current assets | $272,262 | $295,420 | | Total assets | $457,607 | $479,659 | | **Liabilities & Equity** | | | | Total current liabilities | $25,422 | $33,483 | | Total liabilities | $61,325 | $69,321 | | Stockholders' equity | $396,282 | $410,338 | | Total liabilities and stockholders' equity | $457,607 | $479,659 | [Consolidated Statement of Cash Flows](index=7&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows%20%28Unaudited%29) In Q1 2025, OraSure used $19.7 million cash from operations, resulting in a net $20.2 million decrease in cash and equivalents Consolidated Statement of Cash Flows | (in thousands) | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($19,733) | $6,739 | | Net cash provided by (used in) investing activities | $370 | ($46,528) | | Net cash used in financing activities | ($953) | ($1,298) | | **Net decrease in cash and cash equivalents** | **($20,194)** | **($43,262)** | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=10&type=section&id=Statement%20Regarding%20Use%20of%20Non-GAAP%20Financial%20Measures) OraSure reconciles Q1 2025 GAAP net loss of $16.0 million to a non-GAAP net loss of $13.1 million, with key adjustments Reconciliation of GAAP to Non-GAAP Measures | (in thousands) | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | **GAAP Operating Loss** | **($17,750)** | **($7,093)** | | Adjustments | $2,470 | $6,768 | | **Non-GAAP Operating Loss** | **($15,280)** | **($325)** | | **GAAP Net Loss** | **($16,040)** | **($3,584)** | | Adjustments | $2,901 | $6,670 | | **Non-GAAP Net (Loss) Income** | **($13,139)** | **$3,086** | - Major non-GAAP adjustments for Q1 2025 included stock compensation (**$2.7M**), gain on sale of assets (**$0.8M**), change in fair value of contingent consideration (**$0.5M**), and loss on equity investment (**$0.5M**)[24](index=24&type=chunk)
OraSure Announces First Quarter 2025 Financial Results
Globenewswire· 2025-05-07 20:05
Core Insights - OraSure Technologies reported a 45% decrease in total net revenues for Q1 2025, amounting to $29.9 million compared to $54.1 million in Q1 2024, primarily due to a significant decline in COVID-19 related revenues [3][5][12] - The company is focused on expanding its product portfolio and enhancing customer relationships while navigating current market uncertainties [2][5] Financial Performance - Core business revenues, excluding COVID-19 and Molecular Services, decreased by 2% year-over-year to $29.5 million [5] - COVID-19 revenues plummeted by 98% to $0.5 million, down from $23.1 million in the previous year [3][12] - Gross profit for Q1 2025 was $12.3 million, a 49% decline from $24.1 million in Q1 2024, resulting in a gross margin of 41.1% compared to 44.5% [4][12] - The operating loss widened to $17.8 million in Q1 2025 from a loss of $7.1 million in Q1 2024, reflecting an operating margin of -59.3% [4][12] Business Developments - The company has authorized a $40 million stock repurchase program to enhance shareholder value [2][12] - Recent business activities include supporting Color Health with a cervical cancer risk screening test and renewing a customer agreement with Myriad Genetics [12] - OraSure has divested certain assets related to its Risk Assessment testing product line, with plans to exit this business in Q2 2025 [12] Financial Guidance - For Q2 2025, the company anticipates revenues between $28.5 million and $32.5 million, with core revenues expected to be between $28 million and $32 million [8]
OraSure Technologies: Historically Cheap
Seeking Alpha· 2025-04-30 19:47
I last wrote about OraSure Technologies (NASDAQ: OSUR ) in November of 2024. At the time, the company's shares were trading at roughly $4 a share. Since then, OSUR has dipped to below $3 per share (at the time of this writing). In this article, we will touchI am a value investor with a concentrated portfolio, focusing on rare and exceptional buying opportunities. As a keen reader of Value Investing literature, I am well versed in the teachings of 'super investors' such as Warren Buffett, Charlie Munger, Ben ...