ORASURE ANNOUNCES SECOND QUARTER 2025 FINANCIAL RESULTS

Original from: ORASURE

OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point-of-need and home diagnostic tests and sample management solutions, today announced its financial results for the three months ended June 30, 2025.

“Our Q2 results were consistent with our expectations. We are making significant progress on our initiatives to expand our product portfolio, including launching our novel blood collection device for proteomic research in July. We are also staying closely aligned with our customers as they navigate an environment with improving, but still elevated, levels of uncertainty related to funding for public health programs and research,” said Carrie Eglinton Manner, President and CEO of OTI.

She added, “Our team is focused on advancing our innovation roadmap, as well as expanding our commercial reach and diversifying our client relationships in new segments under the leadership of our Chief Commercial Officer, Anne Messing, as we prepare to launch several new products. Overall, I am confident that OTI is well-positioned to deliver growth in 2026, and our strong balance sheet provides the flexibility to invest in organic and inorganic opportunities that leverage our existing capabilities to drive profitable long-term growth.”

Financial Highlights

· Total net revenues for the second quarter of 2025 decreased 43% to $31.2 million from $54.3 million in the second quarter of 2024 primarily due to the decline in COVID-19 revenues.

· Core revenues (all revenues excluding COVID-19, Molecular Services, and Risk Assessment testing revenues) of $30.8 million in the second quarter decreased 5% year-over-year. Diagnostics revenues in the second quarter increased 3% year-over-year to $19.2 million. Sample Management Solutions revenues decreased 22% year-over-year to $9.9 million, with the decline attributable to a large customer in the consumer genomics segment.

· GAAP gross margin was 42.1% in the second quarter of 2025 compared to 45.4% in the second quarter of 2024. Non-GAAP gross margin in the second quarter of 2025 was 43.2% compared to 47.4% in the second quarter of 20241. On a year-over-year basis, gross margin was impacted by the decline in COVID-19 revenues and a higher mix of international revenues while partially offset by operational efficiencies.

· GAAP operating loss in the second quarter of 2025 was $18.0 million compared to operating loss of $2.7 million in the second quarter of 2024. Non-GAAP operating loss was $13.2 million in the second quarter of 2025 compared to non-GAAP operating income of $3.3 million in the second quarter of 2024.

· Cash and cash equivalents were $235 million as of June 30, 2025.

· OTI deployed $5 million during the second quarter to repurchase 1.8 million shares of our common stock.

Recent Business Developments

· Launched our HEMAcollect™●PROTEIN product in July to meet the evolving needs of proteomic researchers. This product has the potential to transform proteomic discovery through extended protein stabilization and a simplified workflow for research, and it is anticipated that use of the device for sample collection will deliver operational and financial efficiencies to researchers and support the generation of high-quality data.

· Renewed our customer agreement with GeneDx. OTI’s ORAcollect kits help enable early diagnosis of rare pediatric diseases through the use of GeneDx’s exome and genome analysis.

· Announced the addition of Anne Messing as Chief Commercial Officer. Ms. Messing joins from Becton Dickinson and will be responsible for Sales, Marketing, and Product Management in shaping the vision and management of OTI’s product portfolio with the aim to achieve market leadership and drive sustainable growth.

Financial Guidance

The Company is guiding to Q3 2025 Total revenues of $27 million to $30 million, which includes less than $100 thousand of COVID-19 testing revenues. 

Source: ORASURE ANNOUNCES SECOND QUARTER 2025 FINANCIAL RESULTS