OraSure Technologies reported a 51% decrease in total net revenues for Q4 2024, primarily due to a significant decline in COVID-19 revenues. Despite this, core revenues showed a 10% year-over-year growth, indicating a gradual recovery in key end markets and diversification efforts.
Total net revenues for Q4 2024 decreased 51% to $37.4 million, primarily driven by the decline in COVID-19 revenues.
Core revenues (excluding COVID-19 and Molecular Services) increased 10% year-over-year to $36.5 million in Q4 2024.
The company reported a GAAP operating loss of $12.4 million in Q4 2024, compared to an operating income of $3.9 million in Q4 2023.
Cash and cash equivalents stood at $267.8 million as of December 31, 2024, with $5.0 million deployed for the acquisition of Sherlock Biosciences during the quarter.
OraSure Technologies is guiding for Q1 2025 revenues between $27.5 million and $31.5 million, with core revenues expected to be $27 million to $31 million, including approximately $1 million from Risk Assessment testing revenues. COVID-19 revenues are projected to be around $0.5 million.
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