Nov. 9, 2026
— Jeff Ward, Lehigh Valley News Briefs
OraSure Technologies reported today a third-quarter adjusted loss of $10.05 million, or 15 cents per share.
The south Bethlehem-based maker of home test kits and other devices has been losing money for a long time.
One of the company’s strong points has been its cash on hand, but that is declining. Cash and cash equivalents were $148 million as of Sept. 30, down from $161 million on June 30.
Chief Executive Carrie Eglinton Manner said yet again that the company is moving forward. Here is a comment from the press release:
“Our third quarter results demonstrate the continued execution of our strategy. In addition to delivering double-digit year-over-year revenue growth, we meaningfully expanded gross margins and benefited from operational efficiency initiatives that reduced our cost base,” Eglinton Manner said.
The company will hold a conference call about its results at 5 p.m.
Revenue was $30.9 million, up from $27.1 million in the year-ago third quarter. The company forecasts fourth-quarter revenue of $30 million to $32 million.
On a Generally Accepted Accounting Principles (GAAP) basis, which does not allow companies to exclude unusual or one-time costs and gains, OraSure lost $13.1 million, or 19 cents per share, in the third quarter.
The closing price of shares today was $3.53. In the past 52 weeks, OraSure (NASDAQ:OSUR) has traded as high as $4.58 and as low as $2.08.
Zacks Investment Research, which provides estimates of corporate earnings, could find only one Wall Street analyst forecast for OraSure, for a loss of 18 cents.
OraSure was founded in 1987 as SolarCare, a maker of disposal sunscreen towelettes. Its product line includes OraQuick, a home test kit for HIV, and InteliSwab, a test for COVID-19.
Disclosure: I sometimes own stock in OraSure.
