Quarterly ResultMay 6, 2026, 04:18 PM
OraSure Q1 Revenue $27.9M, Net Loss $(22.4)M, EPS $(0.32)
AI Summary
OraSure Technologies announced its first quarter 2026 financial results, with total net revenues decreasing 7% year-over-year to $27.9 million. The company reported a GAAP net loss of $22.4 million, or $(0.32) per diluted share, compared to a net loss of $16.0 million in the prior year. Despite the revenue decline and increased loss, OraSure achieved gross margin expansion and maintained a strong balance sheet with $177 million in cash. The company also announced the appointment of John D. Bertrand to its Board of Directors and provided Q2 2026 revenue guidance of $27 million to $30 million.
Key Highlights
- Total net revenues for Q1 2026 decreased 7% year-over-year to $27.9 million.
- GAAP net loss for Q1 2026 was $22.4 million, compared to $16.0 million in Q1 2025.
- Diluted GAAP EPS was $(0.32) in Q1 2026, compared to $(0.21) in Q1 2025.
- Core revenues were $27.9 million, a 0.5% decrease year-over-year.
- GAAP gross margin improved to 42.3% in Q1 2026 from 41.1% in Q1 2025.
- Cash and cash equivalents were $177 million as of March 31, 2026.
- OraSure repurchased approximately 1.8 million shares for $5 million in Q1.
- Q2 2026 total revenue guidance is set between $27 million and $30 million.
- John D. Bertrand was appointed to the Board of Directors.