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Mar 31, 2020
OraSure Q1 2020 Earnings Report
OraSure announced financial results for the first quarter of 2020 and provided a COVID-19 update.
Key Takeaways
OraSure Technologies reported a 5% increase in net revenues for Q1 2020, reaching $31.6 million, with a net loss of $7.3 million or $0.12 per share. The company is also developing COVID-19 tests and sample collection methods.
Net revenues for Q1 2020 were $31.6 million, a 5% increase year-over-year.
International sales of OraQuick® HIV products increased 74% compared to Q1 2019.
Net loss for Q1 2020 was $7.3 million, or $0.12 per share.
OraSure was awarded a $710,310 contract from BARDA to develop a pan-SARS-coronavirus rapid antigen in-home self-test.
Forward Guidance
OraSure withdrew its full-year 2020 financial guidance due to the unpredictable impact of the COVID-19 global pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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