OraSure Reverses Two-Quarter Revenue Decline

The Tip Desk · November 9, 2026 · 3 min read

Third-quarter net revenues reached $30.9 million, up 14% from a year earlier, as the company guided a faster 2027 growth pace.

OraSure Technologies (OSUR), a maker of point-of-need and home diagnostic tests and sample management solutions, reported third-quarter net revenues of $30.9 million, reversing two consecutive quarters of year-over-year declines.

The 14% increase from $27.1 million a year earlier followed a 2% year-over-year drop in the second quarter and a 7% drop in the first. Sequential growth slowed to 1% from 10% in the second quarter. Core business revenues, excluding COVID-19 and Risk Assessment Testing, were $30.9 million, also up 14% after remaining largely flat in the second quarter.

President and CEO Carrie Eglinton Manner said the results demonstrated continued execution of the company’s return-to-growth strategy, including double-digit year-over-year revenue growth, a meaningful expansion in gross margins, and operational efficiency initiatives that reduced the cost base.

Diagnostics revenues were $16.8 million, up 16% from a year earlier. The company attributed the increase to higher HIV and HCV revenues and the addition of BioMedomics’ Sickle SCAN sales. Sample Management Solutions revenues were $12.5 million, up 21%, which the company attributed to key commercial customer growth and timing of specific orders. Other products and services contributed $771,000. COVID-19 diagnostics were $22,000. Risk Assessment Testing was zero.

GAAP gross margin was 45.2%, compared with 43.5% in the third quarter of 2025. The company said the year-over-year increase was primarily a result of operational efficiencies driving better absorption of fixed overhead costs, partially offset by product mix. Non-GAAP gross margin was 45.9%. Sequentially, GAAP gross margin rose from 43.5% in the second quarter and 42.3% in the first.

GAAP operating loss was $13.0 million, compared with a $16.1 million loss a year earlier. Non-GAAP operating loss was $10.2 million. GAAP net loss was $13.1 million, or $0.19 a share, compared with a $13.7 million loss, or $0.19 a share, a year earlier. Non-GAAP net loss was $10.1 million, or $0.15 a share.

Research and development expense was $7.6 million. Sales and marketing was $6.6 million. General and administrative expense was $12.0 million. The company recorded a $746,000 loss on sale of assets. Other income was $1.2 million.

The company generated initial sales in the quarter of the Colli-Pee•Dx Urine Collection Kit and the OraQuick Ebola 2.0 Rapid Antigen Test, products that had received FDA clearance and emergency use authorization in the second quarter. Colli-Pee•Dx is cleared for use with Roche’s STI tests for Chlamydia trachomatis, Neisseria gonorrhoeae, Trichomonas vaginalis, and Mycoplasma genitalium. OraQuick Ebola 2.0 is authorized for use with whole blood in live patients, as well as cadaveric oral fluid for individuals suspected to have had Ebola disease at the time of death, and can detect all four Ebola viruses currently known to cause disease in humans. The company also advanced early development of HPV testing as a potential future application for Colli-Pee•Dx.

Cash and cash equivalents were $148 million as of September 30, 2026.

The company is guiding fourth-quarter 2026 total revenues of $30.0 million to $32.0 million. For the full year 2026, that range represents 4.7% year-over-year growth at the midpoint. The company said it expects an acceleration of year-over-year growth in total revenues for the full year 2027 as compared with the full year 2026.