OraSure Reports Third-Quarter Adjusted Loss of 13 Cents Per Share As Revenue Falls 32% Year-on-Year (Update)

** Updated with comments from the company’s conference call **

Nov 5, 2025

— Jeff Ward, Lehigh Valley News Briefs

OraSure Technologies reported yet another loss and decline in revenue.

OraSure’s adjusted loss per share for the third quarter of 2025 was 13 cents, while revenue in the quarter was $27.1 million, down 32% from the year-ago period.

The per-share number was slightly better than the one estimate of a loss of 16 cents from Zacks Investment Research.

” … we remain confident in our opportunities to return to growth in 2026,” Chief Executive Carrie Eglinton Manner said in OraSure’s earnings statement.

I wonder what era she is referring to, as OraSure has not shown growth since Eglinton Manner took over in 2022. The stock has been a dud since the pandemic.

OraSure is a little company that does interesting things, such as making home test kits for illnesses, but doesn’t do much for shareholders.

One good thing about OraSure is its cash hoard: Cash and cash equivalents were $216 million as of September 30, 2025, according to the statement. Unfortunately, the company squandered $5 million in the quarter on an ill-advised buyback. It bought back about 1.5 million shares, meaning it paid maybe $3.30 on average, about 30% above today’s price.

The CEO also noted that some customers face uncertainty about public funding for health programs and research.

Otherwise it’s the same old story. Revenue down, put a peppy spin on it: “In Q3 we delivered $27.1 million of revenue,” Eglinton Manner said in today’s statement, but that was down from $39.9 million a year ago.

Shares of OraSure (NASDAQ:OSUR) closed Tuesday at $2.57. OraSure’s trajectory for years has been down, down, down. The 52-week high is $4.60.

Fourth-quarter revenue is forecast to be $25 million to $28 million.

Here are some Eglinton Manner quotes from OraSure’s 5 p.m. conference call:

“We continue to significantly advance our strategic transformation.”

“We view 2025 as a transition year.”

Then something about “a strategic innovation roadmap.” I don’t know what that is, but the word “strategic” makes me suspicious.

“Our foundation is strong but our work is not done.”

Perhaps OraSure will announce some good news soon regarding an FDA submission.

The best opportunities to boost the price might come from outside the company. There have been reports this year of a potential cash offer, and of an investor group seeking board seats. After little pops, the stock continues to fall.

Shares of Bethlehem-based OraSure have been laggards since the COVID-19 pandemic, when the company received government contracts for its InteliSwab home diagnostic kit, and money to build its “factory of the future” is in Bethlehem Township.

OraSure was founded as SolarCare, which made sunscreen towelettes.

On a GAAP (Generally Accepted Accounting Principles) basis, OraSure lost $13.7 million, or 19 cents per share, in the third quarter. GAAP accounting does not allow for exclusions of items the company considers to be one-time or unusual.

On an adjusted basis, the total loss was $9.8 million.