Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of OraSure Technologies Inc. (NASDAQ:OSUR), a manufacturer of oral fluid diagnostic and specimen collection devices, shot higher by as much as 19% after reporting market-topping second-quarter results.

So what: For the second quarter, OraSure reported an 8% increase in revenue to $24.3 million, including $2 million in revenue from its In-Home HIV test (which wasn't around at this time last year), and $4.7 million in sales from its molecular collection systems subsidiary DNA Genotek, a 39% increase over last year. Adjusted loss for the quarter widened, however, to $0.10 per share. Comparatively, though, OraSure delivered higher revenue and a narrower loss than the Street was looking for -- $23.7 million and an EPS loss of $0.15. Looking ahead, OraSure sees third-quarter revenue of $24 million to $24.5 million and a loss ranging from $0.09 to $0.10 per share. The sales figures are in-line with Wall Street forecasts, but the loss is also smaller than the current $0.12 per share consensus.

Now what: OraSure is a company that I really, really like on paper. In-home diagnostics is still a largely untapped market -- as is diagnostic collection -- and I foresee a big push over the coming decades into any medical area that personalizes results or treatment to the user. What continues to hold me back is OraSure's lack of a profit, primarily tied to a less-than-perfect spending environment. Let's face it, the U.S. consumer is dealing with less money in their pocket right now because of higher payroll taxes, and Europe's austerity measures are putting a lid on any government spending in that region. While I do see good things for OraSure over the very long run, I'd suggest waiting for the company to return to profitability before even considering it as an investment for your portfolio.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.