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OraSure swings to GAAP profit as revenue beats guidance
The company logged $6.2 million GAAP net income for the quarter, with revenue rising 9.7% sequentially to $30.6 million, while non-GAAP losses remained sizable.
OraSure Technologies returned to GAAP profitability in its second-quarter 2026 results, reporting $6.2 million in GAAP net income versus a $19.7 million loss a year earlier. The company also said revenue came in at $30.6 million, topping its own guidance range and increasing 9.7% from the prior quarter, according to Yahoo Finance.
Profitability, however, was heavily influenced by a large accounting item. OraSure’s GAAP gain was driven almost entirely by a $22.6 million reduction in a contingent consideration liability tied to an updated regulatory submission plan for its Sherlock platform CT/NG test, the outlet noted.
Looking past that adjustment, underlying trends were less upbeat. Non-GAAP operating loss widened to $14.7 million from $13.2 million a year earlier, and non-GAAP net loss was $13.8 million, roughly in line with the prior year’s $14.2 million loss, Yahoo Finance reported.
The quarter included operational and regulatory developments that supported some improvements. Gross margin rose on both a GAAP basis to 43.5% and a non-GAAP basis to 44.2%, diagnostics revenue increased 1% year over year to $19.4 million, and the FDA issued a June clearance for OraSure’s Colli-Pee Dx urine collection kit and an Emergency Use Authorization in July for the OraQuick Ebola 2.0 Rapid Antigen Test, the outlet said. Cash used in operating activities improved to $23.8 million over the first six months of 2026, and the company repurchased $22 million of shares, or 7.7 million shares, under a $40 million authorization.