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Jun 30, 2021
OraSure Q2 2021 Earnings Report
OraSure's Q2 2021 performance was marked by a strong rebound in the core business, driven by a 97% increase in revenue compared to the previous year. The company received three Emergency Use Authorizations (EUAs) for its InteliSwab™ COVID-19 Rapid Tests and experienced significant growth in its Molecular Solutions business unit.
Key Takeaways
OraSure Technologies reported a strong second quarter in 2021, with net revenues of $57.6 million, a 97% increase from Q2 2020. The company's core business rebounded to pre-pandemic levels, and it received three EUAs for its InteliSwab™ COVID-19 Rapid Tests. The Molecular Solutions business unit saw significant growth, driven by demand for genomic collection kits and microbiome services.
Net revenues for Q2 2021 were $57.6 million, a 97% increase year-over-year.
Excluding COVID-19 product revenues, revenues for the quarter increased 122% YoY.
The company received three Emergency Use Authorizations (EUAs) for its InteliSwab™ COVID-19 Rapid Tests.
Operating income in the second quarter was $1.8 million, compared to a loss of ($9.4) million in the second quarter of last year.
Forward Guidance
The Company expects third quarter 2021 net revenues to range from $45 million to $50 million. The Company has also provided guidance for InteliSwab™ for the full year stating that in now anticipates total InteliSwab™ sales through December 2021 of approximately $30 million with the preponderance of revenue coming in the fourth quarter of calendar year 2021. The Company expects fiscal year 2021 total revenue of approximately $230 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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