OraSure Technologies reported a record revenue of $67.7 million for Q1 2022, a 16% increase year-over-year, with a 21% growth in non-COVID revenue. The company scaled InteliSwab® production, improved manufacturing efficiency, and saw strong demand for molecular kits.
Net revenues reached a record $67.7 million, up 16% year-over-year.
Diagnostic business unit revenue grew 163%, driven by InteliSwab®.
Molecular Solutions business unit revenue declined 33%, but non-COVID revenues grew 28%.
Gross margin was 36%, impacted by InteliSwab® manufacturing costs and product mix.
OraSure will not be providing guidance for the second quarter given the ongoing strategic alternative process.
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