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Mar 31, 2021
OraSure Q1 2021 Earnings Report
OraSure Technologies reported strong first quarter results driven by COVID-19 sample collection devices and submitted EUA application for COVID-19 rapid antigen test.
Key Takeaways
OraSure Technologies announced strong Q1 2021 results with net revenues of $58.6 million, an 85% increase year-over-year, driven by sales of sample collection devices for COVID-19 molecular testing. The company also submitted an EUA application to the FDA for its COVID-19 rapid antigen test.
Net revenues for Q1 2021 were $58.6 million, an 85% increase compared to Q1 2020.
Molecular business unit revenues increased by 227% to $43.2 million, including $27.4 million from COVID-19 sample collection devices.
The company's genomics business grew by 32% year-over-year.
Net income for Q1 2021 was $3.8 million, or $0.05 per share, compared to a net loss of $7.3 million, or $0.12 per share, in Q1 2020.
Forward Guidance
The Company expects second quarter 2021 net revenues to range from $55 million to $60 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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