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OraSure Technologies Inc

orasure.com

What Do They Do?

Sells rapid diagnostic tests and sample-collection devices to healthcare and public health organizations, research and commercial customers, and consumers.

How Do They Make Money?

Customers buy diagnostic tests and sample-collection products, generally paying 30 to 120 days after shipment. Other revenue includes royalties when licensees sell products and research funding tied to work performed.

revenue
SegmentShareRevenue
Products and services
Sold outright

95%
FY2022: 98%
Other
5.2%
FY2022: 2.4%

Who Are Their Customers?

Healthcare providers, public health and government groups, consumers, and research and commercial customers buy diagnostic tests and collection products. Sales reach them through direct sales, strategic arrangements, and independent distributors.

Customers above 10% of revenue, FY2025
of revenue from one customer
FY2023: 63% from one customer

Do Revenues Turn Into Profits?

No. It lost $68.7M in FY2025.

Operating income, FY2025
−63% of revenue
▲ +155% (Loss) vs FY2024 (−$28.3M, −15%)
Net income, FY2025
−60% of revenue
▲ +252% (Loss) vs FY2024 (−$19.5M, −10%)
Free cash flow, FY2025
−46% of revenue
▼ Now a loss vs FY2024 ($23.6M, 13%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▼ −2%
vs $31.2M in Q2 FY2025
Net income
▲ Now profitable
vs −$19.7M in Q2 FY2025
Products and services share of revenue vs 95.5% in Q2 FY2025
  • Aug 5, 2026 Gave third-quarter revenue guidance of $29.5 million to $32.5 million
  • May 6, 2026 Gave second-quarter revenue guidance of $27 million to $30 million

Shrinking. Revenue fell 51% in 4 years, from $233.7M in FY2021 to $115M in FY2025, about 16% a year.

Exit from lab services Diversigen offered laboratory and analytical services for genomics and microbiome customers; OraSure later exited the molecular-services line.

Risk-assessment line discontinued The earlier report described laboratory-processed drug-abuse tests; OraSure later discontinued its risk-assessment line, which included substance-abuse testing.

Revenue over time
Products and services Other
$500M$250M$0

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