Post by icemandios on Feb 28, 2024 14:49:37 GMT
OraSure Reports Q4 ‘23 Revenue of $75.9 Million
February 27, 2024 at 4:05 PM EST
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Q4 GAAP EPS of $0.27; Q4 Non-GAAP EPS of $0.22
Grew cash balance to $290.4 million as of December 31, 2023
Enters U.S. Syphilis testing market via strategic distribution agreement with Diagnostics Direct
BETHLEHEM, Pa., Feb. 27, 2024 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point-of-care and home diagnostic tests, sample management solutions, and microbiome laboratory and analytical services, today announced its financial results for the three months ended December 31, 2023.
“We made meaningful progress on our transformation journey in 2023. We generated significant positive operating cash flow with margin expansion, driven by our enterprise-wide focus on innovating and operating with disciplined execution. We expect to deliver additional productivity gains across our organization, and we are on track to achieve our target of break-even in cash flow from operations for the core business by the end of 2024,” said OraSure President and CEO Carrie Eglinton Manner.
February 27, 2024 at 4:05 PM EST
Download PDF
Q4 GAAP EPS of $0.27; Q4 Non-GAAP EPS of $0.22
Grew cash balance to $290.4 million as of December 31, 2023
Enters U.S. Syphilis testing market via strategic distribution agreement with Diagnostics Direct
BETHLEHEM, Pa., Feb. 27, 2024 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point-of-care and home diagnostic tests, sample management solutions, and microbiome laboratory and analytical services, today announced its financial results for the three months ended December 31, 2023.
“We made meaningful progress on our transformation journey in 2023. We generated significant positive operating cash flow with margin expansion, driven by our enterprise-wide focus on innovating and operating with disciplined execution. We expect to deliver additional productivity gains across our organization, and we are on track to achieve our target of break-even in cash flow from operations for the core business by the end of 2024,” said OraSure President and CEO Carrie Eglinton Manner.
She continued, “We are focused on elevating our core growth as volumes under our COVID-19 contracts taper down in 2024 and expect that the trajectory in our key segments will begin to improve later in the year. We are investing in our innovation roadmap, organically and inorganically. Our recent investment and agreement with Sapphiros expands our product pipeline potential, and we continue to increase the breadth of our portfolio through additional partnerships, like with Diagnostics Direct. Overall, we believe the progress we are making positions OraSure to drive profitable growth and create additional shareholder value.”