Loading...
•
Mar 31, 2024
OraSure Q1 2024 Earnings Report
Reported Q1 2024 revenue of $54.1 million and GAAP EPS of $(0.05).
Key Takeaways
OraSure Technologies reported Q1 2024 revenue of $54.1 million. The company is undergoing restructuring initiatives expected to result in $15 million of annualized expense reductions and aims to achieve cash flow breakeven for its core business by the end of 2024. They also delivered initial orders for Syphilis Health Check™ as part of their distribution agreement with Diagnostics Direct.
Total net revenues for Q1 2024 decreased by 65% to $54.1 million compared to $155.0 million in Q1 2023.
Core revenue (excluding COVID-19 revenue) was $31.0 million, a 15% decrease year-over-year.
COVID-19 revenue decreased by 80% year-over-year to $23.1 million.
GAAP gross margin percentage was 44.5% compared to 42.5% in the same period last year.
Revenue by Segment
Forward Guidance
The Company is guiding to Q2 2024 revenue of $50 to $55 million, which includes core revenue of $33 to $36 million and InteliSwab® revenue of $17 to $19 million. Our Q2 2024 guidance includes approximately $650 thousand of revenue from the Diversigen business that we plan to exit.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...