Orasure Tech Stock Price, News & Analysis

OraSure Technologies (NASDAQ: OSUR) has elected Jack Kenny to its Board of Directors, effective September 9, 2024. Kenny, with over 30 years of experience in leadership roles in the in vitro diagnostics, molecular, and lab services industries, will serve as a Class I Director with an initial term expiring at OraSure's 2025 Annual Meeting of Stockholders. His addition brings the board to seven members.

Kenny is the former CEO of Meridian Bioscience, where he led a successful turnaround. His extensive experience includes executive roles at Siemens Healthcare, Becton Dickinson, Danaher , and Quest Diagnostics. OraSure's Board Chair, Mara Aspinall, expressed confidence in Kenny's ability to contribute significant value and industry expertise to the company's ongoing efforts to strengthen its foundation, elevate core growth, and accelerate profitability.

OraSure Technologies reported Q2 2024 financial results with total revenue of $54.3 million, down 36% year-over-year. Core revenue decreased 7% to $35.4 million, while COVID-19 revenue fell 60% to $18.9 million. The company achieved a GAAP EPS of $(0.01) and non-GAAP EPS of $0.07. Key highlights include:

- OraQuick HCV Self-test became the first globally to earn WHO pre-qualification
- Strong momentum with Syphilis Health Check launch
- Expanding Sample Management applications into saliva-based liquid biopsy
- On track to achieve operating cash flow break-even for core business by end of 2024

OraSure expects Q3 2024 revenues of $37-$41 million, including Core revenues of $36-$39 million and InteliSwab revenues of $1-$2 million.

OraSure Technologies, Inc. (NASDAQ: OSUR) has announced its upcoming earnings conference call for the second quarter of 2024. The call is scheduled for August 6, 2024, at 5 p.m. ET. Investors and interested parties can access the webcast through OraSure's investor relations website. The company will discuss its Q2 2024 financial results and provide updates on certain business developments during the call.

To participate and ask questions during the conference, attendees must pre-register using the provided link. The webcast will be archived on OraSure's website for approximately 90 days after the call. This announcement allows investors to prepare for the upcoming financial disclosure and gain insights into the company's recent performance and future outlook.

OraSure Technologies (NASDAQ: OSUR) is supporting National HIV Testing Day on June 27, 2024. The company, known for its point-of-care and home diagnostic tests, emphasizes the importance of HIV testing to control the epidemic. The CDC estimates 1.2 million people in the U.S. are living with HIV, with 14% unaware of their status. OraSure's OraQuick® HIV Self-Test, a vital tool in these efforts, has been distributed via programs like the CDC’s Together Take Me Home, targeting high-risk communities. A new, more sustainable version of the test, with enhanced educational materials, has been launched. OraSure’s collaboration with organizations like KFF supports free HIV testing at Walgreens locations to raise awareness and encourage testing.

OraSure Technologies, Inc. reported Q1 '24 revenue of $54.1 million with a GAAP EPS of $(0.05) and Non-GAAP EPS of $0.04. Restructuring initiatives are expected to yield $15 million in annual expense reductions. Recent actions aim to streamline the business and achieve cash flow breakeven by end of 2024. The company is investing in innovation and partnerships to drive long-term growth.