OraSure Technologies

OraSure makes easy tests for diseases like HIV and COVID-19. They help doctors and patients get quick medical results. Their tools also collect DNA for health research.

Tools for Health and DNA

• HIV Diagnostics: Rapid oral fluid and blood tests for HIV-1 and HIV-2; accounts for 47% of net revenues in Q1 2026.
• Sample Management: Devices used to collect and stabilize genetic material for research and testing; represents 32% of net revenues in Q1 2026.
• Hepatitis C: Rapid antibody tests used at the point of care; comprises 10% of net revenues in Q1 2026.
• Sickle Cell: The SickleSCAN test provides rapid, point-of-need results for sickle cell disease.
• Microbiome Tools: Specialized collection devices used to study microbes and their impact on human and animal health.

Shifting the Strategy

• Acquired BioMedomics in November 2025 to add rapid tests for sickle cell disease to its diagnostic portfolio.
• Entered a strategic distribution agreement with Sapphiros in January 2024 to offer more low-cost diagnostic tests globally.
• Discontinued the risk assessment and substance abuse testing business line during early 2025 to focus on core segments.
• Executed a reduction in workforce in February 2026 to better align the company cost structure with its operations.

Why OraSure Stands Out

The company specializes in non-invasive oral fluid testing and self-collection devices that remove the need for needles. It maintains a dual focus on clinical diagnostics and genomic research services for laboratories and pharmaceutical firms.

A Look at the Numbers

• Net revenues fell 6.7% to $27.9 million in Q1 2026, down from $29.9 million in Q1 2025.
• Operating loss worsened to $23.3 million in Q1 2026 compared to a loss of $17.8 million in Q1 2025.
• Research and development spending rose 42% to $13.7 million in Q1 2026 due to clinical trials for new devices.
• Free cash flow improved to a loss of $14.8 million in Q1 2026 from a $20.2 million loss in Q1 2025.

The Big Picture

OraSure is moving away from pandemic-related testing toward a focused portfolio of clinical diagnostics and sample management. Recent acquisitions and cost-cutting measures support this transition into more specialized health and genomic markets.