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Dec 31, 2021
OraSure Q4 2021 Earnings Report
Reported a 1% increase in revenue, driven by growth in the Diagnostics business unit, particularly InteliSwab® revenue, offset by a decline in the Molecular Solutions business unit due to lower COVID-19 molecular collection kit sales. Operating loss was driven by investments in the InteliSwab® launch and lower gross margins.
Key Takeaways
OraSure Technologies reported fourth-quarter revenue of $63.6 million, a 1% increase year-over-year. The Diagnostics business unit saw a 58% increase in revenue, driven by InteliSwab®, while the Molecular Solutions business unit experienced a 27% decline due to lower COVID-19 molecular collection kit sales. The company reported a net loss of $10.4 million, or $0.14 per share.
Net revenues for the fourth quarter of 2021 were $63.6 million, a 1% increase from the fourth quarter of 2020.
Total revenues from the Company’s Diagnostic business unit were $32.7 million during the fourth quarter of 2021 and grew 58% relative to the same period last year.
Total product and service revenues for the Company’s Molecular Solutions business unit were $30.9 million during the fourth quarter of 2021, a decline of 27% from the fourth quarter of 2020.
Net loss for the fourth quarter of 2021 was ($10.4) million, or ($0.14) per share on a fully diluted basis, compared to a net income of $1.9 million, or $0.03 per share on a fully-diluted basis, for the fourth quarter of 2020.
Forward Guidance
OraSure is not providing fiscal year 2022 or first-quarter 2022 financial guidance at this time due to exploring strategic alternatives.
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