(Updates with comment from 5 p.m. conference call.)
May 6, 2026
— Jeff Ward, Lehigh Valley News Briefs
OraSure Technologies keeps losing money and sales keep falling.
The Bethlehem-based company reported today an adjusted first-quarter loss of $17 million or 24 cents per share.
During a conference call after the report, Chief Executive Carrie Eglinton Manner talked about the company’s “innovation roadmap” as it prepares for potential new products. That’s been one long road.
She said potential products may make the testing for sexually transmitted diseases “private and convenient.” Eglinton Manner’s vision for the company is to increase home testing for illness.
Revenue was $27.9 million, down 7% from the year-ago quarter. The company’s cash and cash equivalents were $177 million as of March 30, down from $199 million at the end of December. That’s a decline of about $22 million in the quarter.
Losing money has become routine for the maker of diagnostic kits and other medical devices. The company held a conference call at 5 p.m. Wednesday.
OraSure shares (NASDAQ:OSUR) traded at $3.00 at the close of regular trading today. That’s close to the midpoint of the 52-week range of $2.08 to $3.82.
OraSure’s products include the InteliSwab test for COVID-19 and OraQuick, which tests for HIV.
It has been losing money for years, and the stock has been a dud since the COVID pandemic.
OraSure was founded in 1988 as SolarCare, a maker of sunscreen towelettes. During the pandemic, OraSure received federal funding and contracts and its stock jumped. The company used government money to build a new plant in Bethlehem Township.
Since the pandemic, revenue has declined and the company has lost money.
Without adjustments for items the company deems one-time or unusual, the loss for the quarter was $22.4 million or 32 cents per share. That is on a Generally Accepted Accounting Principles (GAAP) basis.
The company forecast second-quarter 2026 revenue of $27 million to $30 million. COVID revenue will be “negligible,” Chief Financial Officer Kenneth McGrath said.
OraSure has improved efficiency by consolidating operations, McGrath said.
The company did improve its adjusted gross margin in the quarter to 43.4% from 41.7% in the year-ago quarter.
Orasure’s 5 p.m. conference call lasted 20 minutes and included questions from two Wall Street analysts.
Disclosure: I sometimes buy OraSure shares but never hold them for long.
Lehigh Valley News Briefs 