May 6, 2026
— Jeff Ward, Lehigh Valley News Briefs
OraSure Technologies has reported an adjusted first-quarter loss of $17 million or 24 cents per share.
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 Bethlehem-based maker of diagnostic kits and other medical devices. The company will hold a conference call at 5 p.m.
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, on a Generally Accepted Accounting Principles (GAAP) basis.
The company forecast second-quarter 2026 revenue of $27 million to $30 million.
Disclosure: I sometimes buy OraSure shares but never hold them for many days.
Lehigh Valley News Briefs 