Loading...
•
Sep 30, 2021
OraSure Q3 2021 Earnings Report
Reported revenue growth and signed major contracts.
Key Takeaways
OraSure Technologies reported a 12% increase in revenue for Q3 2021, driven by growth in the diagnostics business unit and genomics collection kit revenue. The company signed three major U.S. government contracts for InteliSwab™ COVID-19 Rapid Test procurement and manufacturing capacity build out.
Third quarter revenue of $53.9 million grew 12% year-over-year.
OraSure signed three major U.S. government contracts providing $205 million in government InteliSwab™ procurement.
Company increased financial guidance range for fiscal year 2021 and is now expecting revenues of $230-$233 million.
Total revenues from the Company’s Diagnostic business unit were $23.5 million during the third quarter of 2021 and grew 44% relative to the same period last year.
Forward Guidance
The Company is increasing its financial guidance range for 2021 and is now calling for revenues of $230 to $233 million. For the fourth quarter of 2021, this translates to total revenue of $60 to $63 million. The Company continues to expect total InteliSwab™ revenue of approximately $30 million for the fiscal year.
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...