Latest news with #OraSureTechnologies
Globe and Mail
5 days ago
- Business
- Globe and Mail
OraSure (OSUR) Q2 Revenue Falls 43%
Key Points OraSure Technologies (NASDAQ:OSUR) reported GAAP revenue of $31.2 million and a non-GAAP loss per share of $(0.19), both modestly better than analyst estimates (non-GAAP EPS, GAAP revenue). Headline revenue (GAAP) declined 43% year over year due to the expected drop in COVID-19 and related business, but Diagnostics revenues increased 3% year-over-year. Cash burn accelerated and losses widened as margin pressures persisted, but cash levels remain high and investments in innovation and product launches continued. These 10 stocks could mint the next wave of millionaires › OraSure Technologies (NASDAQ:OSUR), a diagnostics and sample collection device company, released its second quarter 2025 results on August 5, 2025. The earnings showed that GAAP revenue was $31.2 million, slightly above the $30.36 million GAAP Wall Street estimate. Non-GAAP earnings per share (EPS) stood at $(0.19), improving on the consensus estimate of $(0.21) (non-GAAP). However, this result reflected a sharp drop in GAAP revenue, which decreased 43% from the prior year and a significant swing to operating losses (GAAP). The quarter's performance was better than expected by analysts, with both non-GAAP EPS and GAAP revenue exceeding analyst estimates, but overall financials remained pressured as the company continues to transition beyond pandemic-driven revenue peaks and adapts to a shifting funding and customer landscape. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS (Non-GAAP) $(0.19) $(0.21) $0.08 NM Revenue (GAAP) $31.2 million $30.36 million $54.3 million (43 %) Core Business Revenue $30.8 million $32.3 million -5 % Gross Margin (Non-GAAP) 43.2 % 47.4 % N/A Operating (Loss) Income (Non-GAAP) $(13.2) million $3.3 million NM Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Understanding OraSure Technologies' Business and Strategic Focus OraSure Technologies is known for developing and supplying rapid diagnostic tests and sample collection devices. Its portfolio includes self-tests for infectious diseases—such as the OraQuick® In-Home HIV test, the only U.S. over-the-counter oral HIV self-test—as well as tools for consumer genomics, blood and urine sample collection, and laboratory research. The company's recent focus revolves around innovation, expanding its diagnostic platform, and navigating regulatory requirements. It is investing in new products, such as molecular diagnostics for sexually transmitted infections, following its acquisition of Sherlock Biosciences. Core business success factors now include bringing new tests to market, differentiating its technology, and diversifying the customer base while efficiently managing manufacturing and supply chain transitions into its Pennsylvania facilities. Quarter Highlights: Financial and Operational Developments During the quarter, the company reported a sharp fall in overall revenue (GAAP) compared with the prior year, dropping by 43%. This headline decline mostly reflected the loss of COVID-19–related sales, which fell to near zero as pandemic-driven demand ended. At the same time, revenue from risk assessment testing and molecular services, both of which the company has now exited, slowed to minimal levels. Looking closer at its segments, the core diagnostics portfolio saw an increase in revenue of 3%, totaling $19.2 million. This category includes test kits for infectious disease and other clinical applications. However, sample management solutions—devices and kits used by researchers and genomics companies—fell 22% to $9.9 million (GAAP). The primary driver here was a steep reduction in orders from a single consumer genomics customer, which management flagged as a major concentration risk. Excluding this impact, growth was seen across the broader customer base in this segment. Margins were squeezed throughout the business compared to the prior year period. Gross margin (GAAP) dropped compared to the prior year as the mix of revenue shifted away from higher-margin COVID-19 products and international markets contributed a larger share. Operating income swung to a loss, with the non-GAAP figure at $(13.2) million versus a profit a year ago. Higher research and development (R&D) expenses—up 73% compared to the prior year—fueled by investments in new product development and clinical trials, also weighed on profitability. General and administrative spending climbed compared to the prior year, further reflecting the ongoing restructuring and launch investments. One-time and nonrecurring items were present, notably costs associated with restructuring and exit from certain segments. Non-GAAP results excluded these items. Meanwhile, the company began executing a $40 million share repurchase plan, spending $5 million to buy back 1.8 million shares. Cash and liquidity drew attention, with $234.6 million in cash and equivalents at quarter-end, but negative operating cash flow (GAAP) of $30 million for the first half of 2025. Management continued to highlight 'prudent capital allocation' to maintain investment in key growth programs, while operational efficiency initiatives—like insourcing U.S. manufacturing—are expected to drive improvement over the medium term. Product innovation and launches featured prominently. The company introduced HEMAcollect PROTEIN, a new blood collection device designed to stabilize proteins for research, and advanced Sherlock's molecular diagnostics platform with a new test for chlamydia and gonorrhea moving toward FDA submission. Key agreements with GeneDx and new product launches in sample collection for saliva and urine (like ORAcollect and Colli-Pee devices) remained on track, supporting plans for future portfolio expansion and regulatory clearance in multiple regions. Looking Ahead: Guidance and What to Watch Management's outlook signals ongoing revenue pressure, with projected GAAP sales in a range of $27 million to $30 million. No revenue bounce for COVID-19 testing was expected. Instead, it indicated that gross margin (GAAP) may stay flat or improve slightly in the second half of 2025 as production efficiencies and higher volumes emerge. Investors should watch for the pace of diversification in the customer base, progress in bringing new diagnostic products to market, and The end of the CDC's Together Take Me Home HIV testing initiative, which is expected to bring in approximately $4 million in revenue before the program ends at the close of Q3 2025, is set to weigh on future quarters. Continued cash burn and dependence on public health and consumer genomics funding add risk. Management remains focused on executing its innovation and portfolio strategy, but near-term visibility is limited. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,039%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of August 4, 2025
Yahoo
7 days ago
- Business
- Yahoo
OraSure Appoints Anne Messing as Chief Commercial Officer
BETHLEHEM, Pa., Aug. 04, 2025 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. ('OTI') (NASDAQ: OSUR), a leader in point-of-need and home diagnostic tests and sample management solutions, today announced that Anne Messing has joined OTI as Chief Commercial Officer. Ms. Messing brings more than 25 years of commercial leadership experience across the healthcare industry, including in life sciences, diagnostics, and clinical laboratory services, with a proven track record of driving growth, building high-performing sales teams, and transforming strategic vision into demonstrable results and sustainable success. In her role at OTI, she will be responsible for Sales, Marketing, Strategic Alliances, and Product Management, and will shape the vision and management of OTI's product portfolio in its aim to achieve market leadership and drive long-term growth. Prior to joining OTI, Ms. Messing was Vice President and General Manager of the U.S. Region for Becton Dickinson (BD) Biosciences, spearheading initiatives that outperformed market benchmarks and generated meaningful sales growth from legacy products as well as new product launches. Complementing her 12 years of sales and marketing leadership at BD, she also has deep healthcare experience from prior roles at Danaher, Quest Diagnostics, Siemens Healthcare Diagnostics, and ARUP Laboratories. She spent the early part of her career in the lab as a certified medical technologist and advanced through various levels of management to ultimately lead all the clinical laboratories at Beaumont Hospital in Royal Oak, Michigan. She received her Bachelor of Science in Medical Technology from Northern Michigan University and her Master of Science in Administration from Central Michigan University. 'We are delighted to welcome Anne as our Chief Commercial Officer. I am confident that her deep expertise, motivational leadership, and proven success in delivering results will create exceptional value for our internal and external stakeholders,' said Carrie Eglinton Manner, President and CEO of OTI. 'Leveraging her strengths, she will be instrumental in driving the organization forward as we continue to execute our mission to improve access, quality, and value in healthcare through innovative solutions in effortless testing and sample management.' 'I'm excited to step into this transformative chapter with OTI, as the company accelerates its vision for the future and prepares for a wave of impactful and strategic product launches,' Messing said. About OraSure Technologies OraSure Technologies, Inc. ('OraSure' and 'OTI') transforms health through actionable insight and powers the shift that connects people to healthcare wherever they are. OTI improves access, quality, and value of healthcare with innovation in effortless tests and sample management solutions. Together with its wholly-owned subsidiaries, DNA Genotek Inc. and Sherlock Biosciences, Inc., OTI is a leader in the development, manufacture, and distribution of rapid diagnostic tests and sample collection and stabilization devices designed to discover and detect critical medical conditions. OTI's portfolio of products is sold globally to clinical laboratories, hospitals, physician's offices, clinics, public health and community-based organizations, research institutions, government agencies, pharmaceutical companies, and direct to consumers. For more information, please visit Forward Looking Statements This press release contains certain 'forward-looking statements.' Forward-looking statements are based on current expectations of future events and are not guarantees of future performance or results. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from expectations and projections. Known and unknown factors that could cause actual performance or results to be materially different from those expressed or implied in these statements include, but are not limited to: uncertainty of commercial success; ability to manufacture or have manufactured products in accordance with applicable specifications, performance standards and quality requirements; uncertainty of regulatory approvals; ability to comply with applicable regulatory requirements; uncertainty relating to patent protection and potential patent infringement claims; impact of competitors, competing products and technology changes and patents obtained by competitors; reduction or deferral of public funding available to customers; competition from new or better technology or lower cost products; impact of negative economic conditions; changes in behavior and spending patterns of purchasers; trends toward healthcare cost containment; product efficacy or safety concerns resulting in product recalls or regulatory action; and changes to applicable laws and regulations. These and other factors that could affect our results are discussed more fully in our SEC filings, including our registration statements, Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q, and other filings with the SEC. Although forward-looking statements help to provide information about future prospects, readers should keep in mind that forward-looking statements may not be reliable. Readers are cautioned not to place undue reliance on the forward-looking statements. The forward-looking statements are made as of the date of this press release and OraSure Technologies undertakes no duty to update these statements. Investor Contact: Media Contact: Jason Plagman Amy Koch Vice President, Investor Relations Director, Corporate Communications investorinfo@ media@
Yahoo
21-07-2025
- Business
- Yahoo
OraSure to Announce Second Quarter 2025 Financial Results and Host Earnings Call on August 5th
BETHLEHEM, Pa., July 21, 2025 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR) has scheduled its regular earnings conference call covering second quarter 2025 financial results and certain business developments for 5 p.m. ET on August 5, 2025. A webcast of the conference call will be available on the investor relations page of OraSure's website at Please click on the webcast link and follow the prompts for registration and access at least 10 minutes prior to the call. The webcast will be archived on OraSure's website shortly after the call has ended and will be available for approximately one year. For participants interested in asking questions during the conference call, please follow the link below to pre-register. After registering, you will be provided with access details via email. About OraSure Technologies, Inc. OraSure Technologies, Inc. ('OraSure' and 'OTI') transforms health through actionable insight and powers the shift that connects people to healthcare wherever they are. OTI improves access, quality, and value of healthcare with innovation in effortless tests and sample management solutions. Together with its wholly-owned subsidiaries, DNA Genotek Inc. and Sherlock Biosciences, Inc., OTI is a leader in the development, manufacture, and distribution of rapid diagnostic tests and sample collection and stabilization devices designed to discover and detect critical medical conditions. OTI's portfolio of products is sold globally to clinical laboratories, hospitals, physician's offices, clinics, public health and community-based organizations, research institutions, government agencies, pharmaceutical companies, and direct to consumers. For more information, please visit Investor Contact:Jason PlagmanVP, Investor Relationsinvestorinfo@ Media Contact:Amy KochDirector, Corporate Communicationsmedia@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
14-07-2025
- Business
- CNA
OraSure Technologies received takeover bid from industry entrepreneur, sources say
NEW YORK :Prominent healthcare entrepreneur Ron Zwanziger approached medical device maker OraSure Technologies with a takeover offer, three people familiar with the matter said, in what would mark more consolidation in the heavily fragmented diagnostic industry. In June, Zwanziger submitted an unsolicited all-cash proposal to buy the Bethlehem, Pennsylvania-headquartered company, known for its COVID-19 rapid antigen tests, the sources said. Along with a prominent Wall Street investor and others - people the sources did not identify - Zwanziger proposed paying between $3.50 and $4.00 a share for OraSure. OraSure's stock was trading aT $3.18 on Monday morning, leaving it with a market capitalization of $238.6 million. The company's board rejected the offer not long after it was sent, without any discussions between the parties, the three sources said. A company representative did not immediately respond to a request for comment. A representative for Zwanziger, a serial deal maker who cemented his reputation through at-home blood glucose testing, could not be reached for comment. Zwanziger has built and sold a handful of diagnostic companies during his long career, and sold diagnostic test manufacturer Alere Abbott Laboratories in 2017 for around $5.3 billion. The rebuffed offer for OraSure was his second effort to combine with the company, according to one of the sources. In 2022, only a few months after the company named Carrie Eglinton Manner as its chief executive officer, Zwanziger proposed a merger through a stock swap, but terms could not be reached, the source said. OraSure appealed to Zwanziger because of its solid core technology and he thought he could turn around the company's fortunes quickly with a new team, the sources said. The company's stock price has fallen 27 per cent in the last 12 months and is off 77 per cent over the last five years. Quarterly revenue has been dropping since early 2023 as COVID-19 era sales dried up. OraSure has been attempting to diversify its business as a result, buying Sherlock Biosciences late last year for its molecular diagnostics platform. Point of care diagnostic companies offer accurate results in real time to measure cholesterol, and detect flu and pregnancy, for example. But the industry still remains highly fragmented with companies such as Danaher, Siemens, Roche and Thermo Fisher Scientific capturing the biggest market share.
Reuters
14-07-2025
- Business
- Reuters
OraSure Technologies received takeover bid from industry entrepreneur, sources say
NEW YORK, July 14 (Reuters) - Prominent healthcare entrepreneur Ron Zwanziger approached medical device maker OraSure Technologies (OSUR.O), opens new tab with a takeover offer, three people familiar with the matter said, in what would mark more consolidation in the heavily fragmented diagnostic industry. In June, Zwanziger submitted an unsolicited all-cash proposal to buy the Bethlehem, Pennsylvania-headquartered company, known for its COVID-19 rapid antigen tests, the sources said. Along with a prominent Wall Street investor and others -- people the sources did not identify -- Zwanziger proposed paying between $3.50 and $4.00 a share for OraSure. OraSure's stock was trading aT $3.18 on Monday morning, leaving it with a market capitalization of $238.6 million. The company's board rejected the offer not long after it was sent, without any discussions between the parties, the three sources said. A company representative did not immediately respond to a request for comment. A representative for Zwanziger, a serial deal maker who cemented his reputation through at-home blood glucose testing, could not be reached for comment. Zwanziger has built and sold a handful of diagnostic companies during his long career, and sold diagnostic test manufacturer Alere Abbott Laboratories (ABT.N), opens new tab in 2017 for around $5.3 billion. The rebuffed offer for OraSure was his second effort to combine with the company, according to one of the sources. In 2022, only a few months after the company named Carrie Eglinton Manner as its chief executive officer, Zwanziger proposed a merger through a stock swap, but terms could not be reached, the source said. OraSure appealed to Zwanziger because of its solid core technology and he thought he could turn around the company's fortunes quickly with a new team, the sources said. The company's stock price has fallen 27% in the last 12 months and is off 77% over the last five years. Quarterly revenue has been dropping since early 2023 as COVID-19 era sales dried up. OraSure has been attempting to diversify its business as a result, buying Sherlock Biosciences late last year for its molecular diagnostics platform. Point of care diagnostic companies offer accurate results in real time to measure cholesterol, and detect flu and pregnancy, for example. But the industry still remains highly fragmented with companies such as Danaher (DHR.N), opens new tab, Siemens ( opens new tab, Roche (ROG.S), opens new tab and Thermo Fisher Scientific (TMO.N), opens new tab capturing the biggest market share.
