Revenue Growth
OraSure Technologies reported Q4 revenue of $37.4 million, with core revenue growing 10% year-over-year. Diagnostics revenue increased by 9% and sample management solutions revenue grew by 14%.
Acquisition of Sherlock Biosciences
OraSure acquired Sherlock Biosciences to expand its innovation pipeline with a molecular diagnostic platform. The first molecular self-test for chlamydia and gonorrhea is expected to be submitted to the FDA by end of 2025.
FDA Approval for Expanded HIV Testing
OraSure secured FDA approval to expand the age range for its OraQuick HIV self-test, increasing accessibility to individuals aged 14 and older.
Positive Cash Flow from Operations
The company generated positive cash flow from operations in its core business during Q4, demonstrating progress in operating efficiency and cost savings initiatives.
Strong International Performance
OraSure's international diagnostic business delivered strong performance, with 2024 being a record year for revenue, surpassing the previous high set in 2023.