secwatch.observer — SEC 8-K summary
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Issuer:     ORASURE TECHNOLOGIES INC (OSUR)
CIK:        0001116463
Form:       8-K
Filed at:   2022-05-10T23:59:59+00:00
Accession:  0000950170-22-009046
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OraSure Q1 record revenue $67.7M (+16% YoY) but net loss $20M, InteliSwab scales
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- Net loss of $20.0M ($0.28 diluted EPS) vs net income of $3.8M ($0.05) in Q1 2021; operating loss $16.0M.
- Record revenue $67.7M (+16% YoY); non-COVID revenue up 21%; InteliSwab revenue $22.1M (50% sequential growth).
- Gross margin fell to 36% from 65% due to InteliSwab scrap, under-absorption, product mix, and subsidy expiration.
- Cash from ops used $35.8M; cash and investments $112.2M; $16.9M committed for DoD capacity expansion to be reimbursed.
- Strategic alternatives review ongoing; CEO search underway with interim CEO Nancy Gagliano not a candidate.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116463/000095017022009046/0000950170-22-009046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116463/000095017022009046/osur-20220510.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-009046

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