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OraSure (OSUR) investor relations material
OraSure Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue was $31.2M, down 43% year-over-year, mainly due to lower COVID-19 sales and business exits.
Diagnostics revenue grew 3% to $19.2M, while Sample Management Solutions fell 22% to $9.9M, impacted by a major customer bankruptcy.
New product launches, including HemoCollect protein, and a new Chief Commercial Officer were highlighted as key steps in strategic transformation.
Transition from external to internal manufacturing for Sample Management Solutions was substantially completed ahead of schedule.
The Sherlock Biosciences acquisition was completed in December 2024, expanding the diagnostics portfolio.
Financial highlights
Q2 2025 net revenues: $31.2M; core revenue (excluding COVID-19 and exited businesses) was $30.8M, down 5% year-over-year.
GAAP gross margin was 42.1% (down from 45.4%); non-GAAP gross margin was 43.2% (down from 47.4%).
Q2 2025 GAAP net loss was $19.7M (vs. $0.6M loss prior year); non-GAAP net loss was $14.2M.
Ended Q2 with $235M in cash and equivalents; operating cash flow was negative $10M in Q2 and $(30M) for H1 2025.
$5M was used for share repurchases in Q2, buying back 1.8M shares.
Outlook and guidance
Q3 2025 revenue guidance is $27M–$30M, with minimal COVID-19 testing revenue expected.
Gross margin percentage expected to remain consistent with Q2; continued disruption from the consumer genetics customer anticipated.
Operating efficiencies from in-house manufacturing expected to ramp up in 2025 and accelerate in 2026.
Existing cash is expected to fund operations and capital expenditures for at least the next twelve months.
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