Loading...
•
Dec 31, 2022
OraSure Q4 2022 Earnings Report
OraSure's Q4 2022 earnings were reported, highlighted by record revenue and strategic restructuring.
Key Takeaways
OraSure Technologies reported record revenue of $123.1 million for Q4 2022, a 94% increase year-over-year, driven by InteliSwab® sales. The company announced a restructuring plan expected to save $15 million in operating expenses and aims to achieve cash flow breakeven for its core business by the end of 2024. The cash balance increased to $111 million.
Record Q4 2022 revenue of $123.1 million, up 94% year-over-year.
InteliSwab® revenue reached $88.9 million, a sequential increase of 12%.
GAAP EPS was $0.21, and non-GAAP EPS was $0.36.
Announced restructuring to save $15 million in operating expenses, targeting cash flow breakeven for the core business by the end of 2024.
Forward Guidance
OraSure anticipates 1Q23 revenue of $125 to $130 million, representing 85% to 92% growth relative to the first quarter of last year. Given the continued volatility with the COVID-19 market, OraSure is only providing quarterly financial guidance for fiscal year 2023; however, it is anticipating higher revenue in the first half of the year followed by lower sales in the second half as the Company works down its COVID-19 government contracts.
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...