OraSure Q1 record revenue $155M, GAAP EPS $0.37; guides Q2 rev $62-67M

ORASURE TECHNOLOGIES INC

2023-Q1 EPS reported $0.37 revenue$154,963,000

Total net revenue $155.0M (+129% YoY); InteliSwab revenue $118.3M (+33% sequential).
GAAP EPS $0.37, non-GAAP EPS $0.47; cash and short-term investments $112.4M.
Core business (ex-COVID) revenue $36.6M flat YoY; signed three new molecular partnerships.
2Q23 guidance: total revenue $62-67M, InteliSwab $25-30M; cost savings beyond $15M targeted.
Gross margin 42.5% GAAP, up 200bps sequential; packaging changes expected to save ~$0.50/test.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ORASURE TECHNOLOGIES INC reported three months ended March 31, 2023 results: revenue $ 154,963, net income 27,219, EPS $ 0.37.

Period: three months ended March 31, 2023
Revenue: $ 154,963
Net income: 27,219
EPS: $ 0.37
Result: reported results

Exact text from the filing

Three Months Ended March 31, 2023 2022 % Change Core Business $ 36,554 $ 36,675 0 % COVID-19 118,409 31,032 282 Total Net Revenue $ 154,963 $ 67,707 129 % Three Months Ended March 31, 2023 2022 % Change Net revenues $ 154,963 $ 67,707 129 % Gross profit 65,815 24,299 171 Gross margin 42.5 % 35.9 % Non-GAAP gross profit 66,277 25,527 160 Non-GAAP gross margin 42.8 % 37.7 % Operating income (loss) 24,321 (16,172 ) NM Operating margin 15.7 % -23.9 % Non-GAAP operating income (loss) 32,658 (6,584 ) NM Non-GAAP operating income (loss) 21.1 % -9.7 % Net income (loss) 27,219 (19,940 ) NM Non-GAAP net income (loss) 34,454 (10,662 ) NM GAAP EPS $ 0.37 $ (0.28 ) NM Non-GAAP EPS $ 0.47 $ (0.15 ) NM

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Source: SEC EDGAR

accession 0000950170-23-020635

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