OraSure Technologies jumps 9% after Q3 earnings beat

Nov. 09, 2022 12:15 PM ETOSURBy: Manshi Mamtora, CFA

OraSure Technologies (OSUR) Q3 shows a jump in revenue of 116% to $116M, beating consensus by $24.75M.
Total InteliSwab test revenue of $79.6M increased 85% sequentially as the company scaled its production capacity and saw increased order volume supporting the Federal government’s school testing program.
Core diagnostic revenue increased 14% Y/Y.
GAAP gross margin percentage was 40%, flat from last year.
GAAP operating income was $0.9M vs. $13M loss last year.
Cash flow from operations was $16.3M vs. $19.1M loss prior.
Non-GAAP EPS of $0.13 beats consensus by $0.10.
Previously (Nov. 8): OraSure Technologies Non-GAAP EPS of $0.13 beats by $0.10, revenue of $116.46M beats by $24.75M