OraSure: Revenue of $80.2 Million Growing 39% Year-Over-Year

 InteliSwab® revenue of $43.1 million in Q2, up 95% sequentially with significant scaling in production

InteliSwab® gross margins improve sequentially by over 2,000 basis points

GAAP gross margin of 34.4%, a decrease of 200 basis points sequentially; non-GAAP gross margins improve 250 basis points sequentially to 40.1% despite headwinds

Q2 GAAP EPS of ($0.26) and non-GAAP EPS of ($0.00)

Company expects to generate positive cash flow in the 4Q22

Management to Host Analyst/Investor Call and Webcast Today at 5:00 p.m. ET

Financial Guidance

The Company is guiding toward 3Q22 revenue of $90 to $95 million representing 67% to 76% growth relative to the third quarter of last year. The Company also anticipates continued improvements in gross margins, and improved cash flow from operations in the third quarter. As such, the Company is guiding to having positive cash flow from operations beginning in the fourth quarter of this fiscal year.

The Company will host a conference call and audio webcast for analysts and investors to discuss the Company’s second quarter 2022 results and certain business developments, beginning today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). On the call will be Carrie Eglinton Manner, President and Chief Executive Officer, Lisa Nibauer, President Diagnostics, Kathleen Weber, President Molecular Solutions, Ken McGrath, Chief Financial Officer, and Scott Gleason, SVP Investor Relations and Corporate Communications. The call will include prepared remarks by management and a question and answer session.

In order to listen to the conference call, please dial (866) 374-5140 and reference Conference ID #11565698 or go to OraSure Technologies’ web site, www.orasure.com, and click on the Investor Relations page. Please click on the webcast link and follow the prompts for registration and access 10 minutes prior to the call. A replay of the call will be archived on OraSure Technologies’ web site shortly after the call has ended and will be available for 14 days. It is recommended to dial-in 15 to 20 minutes prior to the call start to reduce waiting times. If a participant will be listen-only, they are encouraged to listen via the webcast on OraSure’s Investor Relations page.

https://finance.yahoo.com/news/orasure-reports-2q22-record-revenue-200500821.html