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Dec 31, 2023
OraSure Q4 2023 Earnings Report
OraSure reported Q4 2023 revenue of $75.9 million with a GAAP EPS of $0.27 and a non-GAAP EPS of $0.22, and grew its cash balance to $290.4 million.
Key Takeaways
OraSure Technologies reported a decrease in total net revenues for Q4 2023, with core revenue showing a slight increase and COVID-19 revenue declining. The company highlighted progress on its transformation journey, margin expansion, and focus on innovation and disciplined execution. They also entered the U.S. Syphilis testing market via a strategic distribution agreement with Diagnostics Direct.
Total net revenues for Q4 2023 decreased 38% to $75.9 million from $123.1 million in Q4 2022.
Core revenue increased 0.4% year-over-year, driven by strong HIV sales, offset by a decline in non-product revenue.
COVID-19 revenue decreased 53% year-over-year.
Cash, cash equivalents, and short-term investments increased to $290.4 million as of December 31, 2023.
Revenue by Segment
Forward Guidance
The Company is guiding to Q1 2024 revenue of $50 to $54 million, which includes core revenue of $29 to $31 million and InteliSwab® revenue of $21 to $23 million.
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
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