Start here if you're new
what it is
OraSure sells rapid disease tests and sample collection tools that help labs and clinics get usable specimens fast.
how it gets paid
Last year Orasure Technologies made $115M in revenue.
why growth slowed
Revenue fell 38.1% last year. Sales jumped 226% vs. prior year, but the profit line went the wrong way.
what just happened
Revenue hit $88M, but EPS still came in at -$0.67.
At a glance
B balance sheet — gets the job done, barely
15/100 earnings predictability — expect surprises
12.5% return on capital — nothing to write home about
-$0.26 fy2024 eps est
$2B fy2026 rev est
xvary composite: 46/100 — below average
What they do
OraSure sells rapid disease tests and sample collection tools that help labs and clinics get usable specimens fast.
OraSure wins when testing has to be simple and done outside a big lab. Its products are built for point of care (testing near the patient) and home use, and that matters because the company sells globally with just 501 employees. If you need a test or sample kit that works in a clinic, community site, or your kitchen table, convenience beats elegance.
How they make money
$115M
annual revenue · revenue declined -38.1% last year
total revenue
$115M
38.1%
The products that matter
at-home HIV testing
OraQuick HIV Self-Test
part of the $26.8M diagnostic products segment
This is one of the products management is leaning on for a Canada launch in 2026. The problem is timing: the existing Diagnostic Products segment fell 28.5% in the latest quarter, so new-market expansion needs to arrive before investors run out of patience.
2026 launch watch
rapid antigen diagnostics
InteliSwab COVID-19 Test
inside the $26.8M diagnostic products segment
The COVID testing boom is over, and the segment numbers show it. Diagnostic Products generated $26.8M in Q4 and missed forecasts by 4.6%, which tells you the old demand base is not coming back to save the model.
legacy demand reset
sample collection devices
Specimen Collection Devices
$88.2M · 77% of revenue
This is the part of the business still holding the company together. At $88.2M of a $115M revenue base, it is the economic center of gravity. If you own OSUR, you should treat this segment as the floor beneath the turnaround story.
revenue floor
Key numbers
62.6%
operating margin
Operating margin → profit after running the business → so what: OraSure is losing money on the core operation, not just taking a one-time hit.
$115M
annual revenue
Annual revenue → total sales for the year → so what: this is a small company, so every lost contract or delayed launch hits harder.
42.2%
gross margin
Gross margin → money left after making the product → so what: the products can make money before overhead, but the rest of the cost structure is the problem.
$11M
long-term debt
Long-term debt → money owed over years → so what: debt is just 5% of capital, so leverage is not the immediate fire.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 15 / 100
- long-term debt $11M (5% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for OSUR right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $88M, but EPS still came in at -$0.67.
Sales jumped 226% vs. prior year, but the profit line went the wrong way. Gross margin was 42.2%, which says product economics are not the only issue.
$88M
revenue
$0.67
eps
42.2%
gross margin
the number that mattered
The number that mattered was -$0.67 EPS because revenue can bounce, but recurring losses tell you the turnaround is still unfinished.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is the specimen-collection base shrinking before the late-2026 pipeline arrives.
med
core revenue keeps falling
Q4 revenue was $26.8M, down 28.5% from a year ago, and annual revenue fell 38.1% to $115M. Management then guided the next quarter to roughly $26M, which is not what stabilization looks like.
If that run rate holds, the company is still operating on a much smaller base while fixed costs remain built for something larger.
med
losses stay structural
EPS over the last four quarters was -$0.93, and EBIT margin was -58.8%. Gross margin of 41.0% tells you the products are not worthless. It also tells you operating costs are doing most of the damage.
A business losing roughly 59 cents at the operating line for every $1 of revenue does not need a small improvement. It needs a reset.
med
pipeline timing slips
The current bull case leans on two FDA-submitted diagnostics expected in the second half of 2026 and a 2026 Canada launch for OraQuick HIV Self-Test. Delays, weak uptake, or regulatory friction would push the turnaround further out.
That would leave investors depending even longer on a $115M revenue base that is still shrinking.
At a roughly $26M quarterly revenue run rate and a -58.8% EBIT margin, there is not much room for another operational miss.
source: institutional data · regulatory filings · risk analysis
Pay attention to
revenue floor
does quarterly revenue hold above $26M
That is the number that mattered in the latest guide. If revenue dips below that level again, the turnaround clock speeds up in the wrong direction.
calendar
q1 2026 earnings
Management guided to roughly $26M. You do not need a beat by much. You need proof that the decline is no longer accelerating.
pipeline trend
late-2026 launch timeline
Two FDA-submitted diagnostics and the 2026 OraQuick Canada launch now carry the future narrative. If the timeline slips, the stock loses its easiest reason to wait.
ownership signal
whether insider buying stays a one-off
The CFO bought 22,021 shares on Mar 13, 2026. One insider buy is a signal. A pattern would matter more, especially with 90.0% of shares already held by institutions.
Analyst rankings
earnings predictability
15 / 100
A 15/100 predictability score means quarterly results have been hard to model. In human-speak, analysts do not trust this income statement to behave.
risk rank
3
Risk rank 3 puts it near the middle, which sounds calmer than the fundamentals feel. The balance sheet is decent enough, but the business model still looks unstable.
source: institutional data
Institutional activity
institutional ownership data for OSUR is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive