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OraSure Technologies Inc. develops, manufactures and distributes point-of-need and home diagnostic tests, along with sample collection and stabilization products used in healthcare and research settings. Its portfolio includes rapid diagnostic tests and sample management solutions sold to clinical laboratories, hospitals, physicians' offices, clinics, public health and community organizations, research institutions, government agencies, pharmaceutical companies and consumers.
OraSure news commonly covers quarterly results, manufacturing efficiency, product regulatory updates, commercial launches, research and development priorities, and capital allocation. Company updates also address subsidiaries including DNA Genotek, Sherlock Biosciences and BioMedomics, products such as OraQuick HIV self-testing and Colli-Pee urine collection, and governance matters involving board composition and shareholder engagement.
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OraSure Technologies reported Q4 2022 revenue of $123.1 million, a 94% increase year-over-year, driven by InteliSwab® sales of $88.9 million, up 12% sequentially. The company secured two federal contracts for InteliSwab® and partnered with Quest Diagnostics for saliva collection kits. Q4 GAAP EPS was $0.21, with Non-GAAP EPS at $0.36. A restructuring plan is expected to save $15 million annually, aiming for cash flow breakeven by end of 2024. Cash increased to $111 million. Notably, sales of COVID-19 kits declined by 98% year-over-year.
OraSure Technologies, Inc. (NASDAQ: OSUR) will host its earnings conference call on February 14, 2023, at 5:00 PM ET, to discuss its fourth quarter 2022 financial results and recent business developments. A press release detailing the financial results will be made available at 4:05 PM ET on the same day. Interested parties may register for the teleconference through a link provided in the announcement. The call will also be available via webcast on OraSure’s investor relations page and will be archived for 14 days post-event.
OraSure Technologies (NASDAQ: OSUR) rang the Nasdaq closing bell on December 1, 2022, in honor of World AIDS Day. This day aims to raise awareness about the AIDS epidemic and recognize those lost to the disease. The 2022 theme emphasizes the importance of equity in the fight against HIV. The company has been a significant player in HIV diagnostics since 2002, focusing on providing accessible testing, especially for marginalized communities. OraSure's collaboration with the CDC allows them to supply up to one million OraQuick® In-Home HIV tests to those at higher risk in the U.S.
OraSure Technologies (NASDAQ: OSUR) announced that CFO Ken McGrath will participate in a fireside chat at the Stephens Annual Investment Conference on November 17, 2022, at 9:00 am ET. The event will be webcast live, allowing investors and stakeholders to tune in online. Replays of the presentation will be available on the company's website for 14 days. OraSure specializes in point of care diagnostic tests and offers various health solutions through its subsidiaries, including DNA Genotek and Diversigen.