OraSure Technologies Inc (OSUR) Q4 2025 Earnings Call Highlights: Revenue Exceeds Expectations …

GuruFocus News

Thu, February 26, 2026 at 2:02 PM GMT+9 4 min read

In this article:

OSUR

-0.71%

This article first appeared on GuruFocus.

**Total Revenue:** $26.8 million in Q4 2025.

**Core Revenue:** $26.7 million, excluding COVID-19 products.

**Diagnostic Products Revenue:** $15.1 million in Q4.

**Sample Management Solutions Revenue:** $9.1 million in Q4.

**GAAP Gross Margin:** 41% in Q4, up from 36.2% in Q4 2024.

**Non-GAAP Gross Margin:** 41.4% in Q4, up from 40.1% in Q4 2024.

**GAAP Operating Loss:** $20.1 million in Q4.

**Non-GAAP Operating Loss:** $15.2 million in Q4.

**Cash and Cash Equivalents:** $199 million at year-end.

**Share Repurchase:** $5 million spent to repurchase 1.9 million shares in Q4.

**Operating Cash Flow:** Negative $9 million in Q4.

**Q1 2026 Revenue Guidance:** $26 million to $29 million.

**Q1 2026 Gross Margin Guidance:** Expected in the low 40% range.

Warning! GuruFocus has detected 4 Warning Signs with OSUR.

Is OSUR fairly valued? Test your thesis with our free DCF calculator.

Release Date: February 25, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

OraSure Technologies Inc (NASDAQ:OSUR) reported total revenue of $26.8 million for Q4 2025, exceeding the midpoint of their guidance range.

The company is launching two new products in mid-2026: a rapid molecular self-test for chlamydia and gonorrhea (CT/NG) and the Colli-Pee at-home urine collection device for sexually transmitted infections.

OraSure Technologies Inc (NASDAQ:OSUR) expanded its presence in Canada with the launch of the OraQuick HIV Self-Test, the first oral HIV self-test licensed by Health Canada.

The integration of BioMedomics is progressing well, with strong demand for the Sickle SCAN test, particularly in Africa and Latin America.

The company ended the year with zero debt and $199 million in cash and cash equivalents, reflecting a strong balance sheet.

Negative Points

OraSure Technologies Inc (NASDAQ:OSUR) reported a GAAP operating loss of $20.1 million and a non-GAAP operating loss of $15.2 million for Q4 2025.

Operating cash flow was negative $9 million in the fourth quarter, attributed to investments in the Sherlock platform and clinical trials.

The company anticipates lower R&D expenses in 2026, but ongoing clinical trials will continue to incur costs.

There is uncertainty in the regulatory review process for the new product launches, which could impact the timing of revenue ramp-up.

The company is operating at approximately 30% capacity, indicating underutilization of manufacturing resources.

Q & A Highlights

Q: Given the submission of applications for Colli-Pee and the CT/NG test, how should we anticipate R&D expenses moving forward? Will funds be redeployed to other R&D efforts? A: Kenneth McGrath, CFO, stated that they anticipate lower R&D expenses for the full year, although some clinical trials will continue to support performance claims for product launches. R&D expenses will decrease throughout the year as clinical trial spending reduces.

Story continues  

Q: Has the ordering cadence for international HIV testing normalized following disruptions in 2025? A: Carrie Eglinton Manner, CEO, confirmed improved visibility in African countries regarding funding and implementation. Countries are investing more themselves, with 14 African countries signing MOUs with the government, indicating stabilization and recovery.

Q: What is the latest update on the two product launches planned for midyear, and what can be expected in terms of revenue ramp in the second half? A: Carrie Eglinton Manner, CEO, mentioned they are still targeting a midyear launch with a revenue ramp in the second half. While there’s uncertainty in the regulatory review process, they are working towards these timelines and will provide updates as more information becomes available.

Q: How has traction evolved in expanding beyond the public health setting into clinical settings for the hep C test? A: Carrie Eglinton Manner, CEO, noted progress in expanding customer segments beyond public health into clinical settings like emergency rooms and urgent care. They are encouraged by the market and segment expansion beyond public health.

Q: How do you view growth in Sample Management Solutions, excluding the large customer headwind, and what are the drivers for 2026 and beyond? A: Kenneth McGrath, CFO, stated that excluding the large customer, they saw year-over-year growth in Sample Management, driven by diversification of the customer base. They expect gradual improvement and growth driven by market stabilization and diversification.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Terms and Privacy Policy

Privacy Dashboard

More Info