The company's revenue trajectory has collapsed, with 2026Q1 revenue falling to $27.9K while operating margins plummeted to -83.0% due to high fixed-cost underutilization.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 85.12M | 115.02M | 185.83M | 405.47M | 387.48M | 233.67M | 171.72M | 154.6M | 181.74M | 167.06M | 122.8M | 119.72M | 106.46M | 98.94M | 87.82M | 81.88M | 75.01M | 77.03M | 71.1M | 82.69M | 68.15M | 69.37M | 54.01M | 40.45M | 32.01M | 32.57M | 30.1M | 10.1M | 9.8M | 9.4M | 68.7M |
| Revenue Growth % | -47.34% | -38.1% | -54.17% | 4.64% | 65.82% | 36.08% | 11.07% | -14.93% | 8.79% | 36.05% | 2.57% | 12.45% | 7.6% | 12.66% | 7.25% | 9.15% | -2.61% | 8.33% | -14.01% | 21.32% | -1.75% | 28.44% | 33.51% | 26.37% | -1.73% | 8.2% | 198.06% | 3.06% | 4.26% | -86.32% | 1274% |
| Cost of Goods Sold | 52.07M | 66.82M | 109.6M | 226.05M | 239.04M | 116.07M | 69.85M | 60.02M | 68.13M | 68.11M | 40.17M | 39.43M | 39.84M | 40.35M | 32.25M | 30.16M | 27.66M | 29.9M | 29.98M | 32.4M | 24.76M | 27.97M | 22.14M | 16.06M | 12.89M | 12.33M | 9M | 3.1M | 3M | 2.8M | 58.6M |
| COGS % of Revenue | - | 58.1% | 58.98% | 55.75% | 61.69% | 49.67% | 40.68% | 38.82% | 37.49% | 40.77% | 32.71% | 32.93% | 37.42% | 40.78% | 36.72% | 36.84% | 36.87% | 38.81% | 42.16% | 39.19% | 36.32% | 40.33% | 41% | 39.71% | 40.26% | 37.86% | 29.9% | 30.69% | 30.61% | 29.79% | 85.3% |
| Gross Profit | 33.04M | 48.2M | 76.23M | 179.42M | 148.44M | 117.6M | 101.87M | 94.58M | 113.61M | 98.96M | 82.63M | 80.29M | 66.62M | 58.59M | 55.57M | 51.72M | 47.36M | 47.13M | 41.13M | 50.28M | 43.4M | 41.39M | 31.87M | 24.39M | 19.12M | 20.24M | 21.1M | 7M | 6.8M | 6.6M | 10.1M |
| Gross Margin % | 38.82% | 41.9% | 41.02% | 44.25% | 38.31% | 50.33% | 59.32% | 61.18% | 62.51% | 59.23% | 67.29% | 67.07% | 62.58% | 59.22% | 63.28% | 63.16% | 63.13% | 61.19% | 57.84% | 60.81% | 63.68% | 59.67% | 59% | 60.29% | 59.74% | 62.14% | 70.1% | 69.31% | 69.39% | 70.21% | 14.7% |
| Gross Profit Growth % | - | -36.77% | -57.52% | 20.87% | 26.22% | 15.44% | 7.7% | -16.75% | 14.81% | 19.76% | 2.91% | 20.52% | 13.71% | 5.43% | 7.45% | 9.2% | 0.49% | 14.59% | -18.21% | 15.86% | 4.85% | 29.9% | 30.65% | 27.55% | -5.53% | -4.08% | 201.45% | 2.94% | 3.03% | -34.65% | 10000% |
| Operating Expenses | 82.93M | 116.32M | 96.83M | 125.34M | 153.68M | 129.25M | 107.75M | 85.59M | 74.35M | 71.22M | 67.76M | 72.23M | 76.93M | 79.05M | 71.84M | 57.48M | 50.71M | 51.44M | 57.46M | 51.5M | 37.94M | 31.42M | 33.22M | 25.68M | 22.66M | 24.12M | 26.31M | 10.4M | 9M | 11.6M | 15.6M |
| OpEx % of Revenue | - | 101.13% | 52.11% | 30.91% | 39.66% | 55.31% | 62.75% | 55.36% | 40.91% | 42.63% | 55.18% | 60.34% | 72.26% | 79.9% | 81.8% | 70.2% | 67.6% | 66.79% | 80.81% | 62.29% | 55.66% | 45.3% | 61.51% | 63.47% | 70.8% | 74.05% | 87.39% | 102.97% | 91.84% | 123.4% | 22.71% |
| Selling, General & Admin | 51.07M | 73.79M | 72.41M | 92.18M | 117.44M | 95.08M | 76.72M | 65.96M | 58.1M | 57.85M | 58.01M | 60.58M | 64.87M | 68.12M | 59.4M | 40.07M | 37.52M | 38.07M | 37.2M | 37.37M | 29.29M | 26.15M | 27.16M | 17.68M | 14.39M | 14.73M | 13.81M | 5.7M | 5.4M | 6.7M | 9.8M |
| SG&A % of Revenue | - | 64.16% | 38.96% | 22.73% | 30.31% | 40.69% | 44.68% | 42.66% | 31.97% | 34.63% | 47.24% | 50.6% | 60.93% | 68.85% | 67.63% | 48.94% | 50.02% | 49.43% | 52.32% | 45.19% | 42.97% | 37.7% | 50.29% | 43.7% | 44.95% | 45.23% | 45.87% | 56.44% | 55.1% | 71.28% | 14.26% |
| Research & Development | 31.86M | 42.53M | 24.42M | 33.16M | 36.24M | 34.17M | 31.03M | 19.63M | 16.25M | 13.37M | 9.75M | 11.65M | 12.06M | 10.93M | 12.45M | 17.41M | 13.19M | 13.37M | 20.26M | 14.14M | 8.65M | 5.27M | 6.06M | 8M | 8.27M | 9.39M | 10.4M | 4M | 2.9M | 4.2M | 4.5M |
| R&D % of Revenue | - | 36.97% | 13.14% | 8.18% | 9.35% | 14.62% | 18.07% | 12.7% | 8.94% | 8% | 7.94% | 9.73% | 11.33% | 11.05% | 14.17% | 21.26% | 17.59% | 17.36% | 28.49% | 17.1% | 12.69% | 7.6% | 11.22% | 19.78% | 25.85% | 28.83% | 34.54% | 39.6% | 29.59% | 44.68% | 6.55% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.1M | 700K | 700K | 700K | 1.3M |
| Operating Income | -49.88M | -68.12M | -20.6M | 54.08M | -5.24M | -11.65M | -5.88M | 9M | 39.27M | 27.74M | 14.87M | 8.06M | -10.3M | -20.46M | -16.27M | -5.76M | -3.35M | -4.31M | -16.33M | -1.22M | 5.46M | 9.97M | -1.36M | -1.29M | -3.54M | -4.33M | -12.81M | -3.4M | -2.2M | -5M | -5.5M |
| Operating Margin % | -58.6% | -59.23% | -11.09% | 13.34% | -1.35% | -4.99% | -3.43% | 5.82% | 21.61% | 16.6% | 12.11% | 6.73% | -9.68% | -20.68% | -18.53% | -7.04% | -4.47% | -5.6% | -22.97% | -1.47% | 8.02% | 14.38% | -2.51% | -3.18% | -11.06% | -13.3% | -42.56% | -33.66% | -22.45% | -53.19% | -8.01% |
| Operating Income Growth % | - | -230.7% | -138.09% | 1131.45% | 54.99% | -98.01% | -165.4% | -77.09% | 41.56% | 86.6% | 84.48% | 178.22% | 49.65% | -25.77% | -182.3% | -71.83% | 22.23% | 73.59% | -1239.42% | -122.32% | -45.22% | 835.08% | -5.52% | 63.69% | 18.28% | 66.19% | -276.86% | -54.55% | 56% | 9.09% | 71.65% |
| EBITDA | -42.5M | -57.93M | -9.73M | 73.98M | 8.76M | 9K | 3.5M | 16.34M | 45.72M | 34.14M | 20.55M | 13.75M | -4M | -13.91M | -9.02M | -872.26K | -341.84K | -1.26M | -12.94M | 1.52M | 7.39M | 12.32M | 1.13M | 1.29M | -1.36M | -2.34M | -10.71M | -2.7M | -1.5M | -4.3M | -4.2M |
| EBITDA Margin % | -49.93% | -50.37% | -5.24% | 18.25% | 2.26% | 0% | 2.04% | 10.57% | 25.15% | 20.44% | 16.74% | 11.49% | -3.75% | -14.06% | -10.27% | -1.07% | -0.46% | -1.64% | -18.2% | 1.83% | 10.84% | 17.76% | 2.09% | 3.19% | -4.25% | -7.17% | -35.59% | -26.73% | -15.31% | -45.74% | -6.11% |
| EBITDA Growth % | -57.72% | -495.52% | -113.15% | 744.8% | 97200% | -99.74% | -78.55% | -64.27% | 33.91% | 66.12% | 49.43% | 444.28% | 71.28% | -54.21% | -934.1% | -155.17% | 72.94% | 90.24% | -953.4% | -79.46% | -40.05% | 989.81% | -12.44% | 194.84% | 41.74% | 78.19% | -296.79% | -80% | 65.12% | -2.38% | 76.54% |
| D&A (Non-Cash Add-back) | 7.38M | 10.19M | 10.87M | 19.9M | 14M | 11.66M | 9.39M | 7.34M | 6.45M | 6.4M | 5.69M | 5.7M | 6.31M | 6.55M | 7.25M | 4.89M | 3.01M | 3.05M | 3.39M | 2.74M | 1.92M | 2.35M | 2.49M | 2.58M | 2.18M | 2M | 2.1M | 700K | 700K | 700K | 1.3M |
| EBIT | -52.11M | -66.93M | -20.6M | 54.08M | -5.24M | -11.65M | -5.88M | 9M | 39.27M | 27.74M | 14.87M | 8.06M | -10.3M | -20.46M | -16.27M | -5.76M | -3.35M | -4.31M | -16.33M | -1.22M | 5.46M | 9.97M | -425.99K | -1.29M | -3.54M | -3.88M | -6.52M | -3.4M | -2.2M | -5M | -5.3M |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -172K | -316K | -316K | 376.7K | 2.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 63.99K | 151.76K | 737.89K | 3.08B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 172K | 316.31K | 316.19K | 361.19K | 345.77K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.52M | 0 | 0 | 0 | 0 |
| Other Income/Expense | -573.54K | 1.19M | 2.9M | 2.18M | -10.43M | 2.36M | 2.36M | 12.34M | -7.55M | 13.29M | 5.46M | 774K | 6.03M | 8.5M | -242K | -3.95M | -142.84K | -4.12M | 7.58M | 5.51M | 3.6M | -253.82K | 797.04K | 176.8K | 198.06K | 633.49K | 90.89K | 200K | 400K | 800K | 5M |
| Pretax Income | -50.46M | -66.93M | -17.7M | 56.26M | -15.68M | -9.29M | -3.52M | 21.33M | 31.72M | 41.03M | 20.32M | 8.83M | -4.27M | -11.96M | -16.51M | -9.71M | -3.5M | -8.44M | -8.75M | 4.29M | 9.06M | 9.72M | -559.64K | -1.11M | -3.34M | -3.7M | -12.72M | -3.2M | -1.9M | -22.5M | -300K |
| Pretax Margin % | -59.28% | -58.19% | -9.53% | 13.87% | -4.05% | -3.98% | -2.05% | 13.8% | 17.45% | 24.56% | 16.55% | 7.38% | -4.01% | -12.09% | -18.8% | -11.86% | -4.66% | -10.95% | -12.3% | 5.19% | 13.3% | 14.01% | -1.04% | -2.74% | -10.44% | -11.36% | -42.26% | -31.68% | -19.39% | -239.36% | -0.44% |
| Income Tax | 2.26M | 1.8M | 1.8M | 2.6M | 1.46M | 13.71M | 11.4M | 4.67M | 11.32M | 10.08M | 603K | 665K | 343K | -772K | -1.4M | -868.95K | 0 | -622.28K | 22.53M | 1.82M | 3.79M | -17.73M | 0 | 26.59K | 0 | 28.79K | 24.36K | 0 | 1.9M | 22.5M | 300K |
| Effective Tax Rate % | -4.47% | -2.69% | -10.16% | 4.63% | -9.3% | -147.5% | -323.44% | 21.92% | 35.69% | 24.58% | 2.97% | 7.53% | -8.03% | 6.45% | 8.46% | 8.95% | 0% | 7.38% | -257.52% | 42.42% | 41.87% | -182.42% | 0% | -2.4% | 0% | -0.78% | -0.19% | 0% | -100% | -100% | -100% |
| Net Income | -52.71M | -68.73M | -19.5M | 53.66M | -17.13M | -23M | -14.92M | 16.66M | 20.4M | 30.95M | 19.72M | 8.17M | -4.61M | -11.19M | -15.12M | -8.84M | -3.5M | -7.81M | -31.28M | 2.47M | 5.27M | 27.45M | -559.64K | -1.14M | -3.34M | -3.73M | -12.75M | -3.2M | -1.9M | -22.5M | -300K |
| Net Margin % | -61.93% | -59.76% | -10.49% | 13.23% | -4.42% | -9.84% | -8.69% | 10.77% | 11.22% | 18.52% | 16.06% | 6.82% | -4.33% | -11.31% | -17.21% | -10.8% | -4.66% | -10.14% | -43.98% | 2.99% | 7.73% | 39.57% | -1.04% | -2.81% | -10.44% | -11.44% | -42.34% | -31.68% | -19.39% | -239.36% | -0.44% |
| Net Income Growth % | -64.96% | -252.47% | -136.34% | 413.17% | 25.5% | -54.12% | -189.59% | -18.34% | -34.1% | 56.94% | 141.46% | 277% | 58.77% | 25.97% | -70.97% | -152.81% | 55.24% | 75.02% | -1364.96% | -53.06% | -80.81% | 5004.58% | 50.72% | 66.03% | 10.34% | 70.75% | -298.33% | -68.42% | 91.56% | -7400% | 98.38% |
| Net Income (Continuing) | -52.71M | -68.73M | -19.5M | 53.66M | -17.13M | -23M | -14.92M | 16.66M | 20.4M | 30.95M | 19.72M | 8.17M | -4.61M | -11.19M | -15.12M | -8.84M | -3.5M | -7.81M | -31.28M | 2.47M | 5.27M | 27.45M | -559.64K | -1.14M | -3.34M | -3.73M | -12.75M | -3.2M | -1.9M | -4.1M | 1.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 200K |
| EPS (Diluted) | -0.76 | -0.94 | -0.26 | 0.72 | -0.25 | -0.32 | -0.22 | 0.27 | 0.33 | 0.51 | 0.35 | 0.14 | -0.08 | -0.20 | -0.29 | -0.19 | -0.08 | -0.17 | -0.67 | 0.05 | 0.11 | 0.59 | -0.01 | -0.03 | -0.09 | -0.10 | -0.36 | -0.23 | -0.14 | -1.12 | -0.02 |
| EPS Growth % | -148.39% | -261.54% | -136.11% | 388% | 21.88% | -45.45% | -181.48% | -18.18% | -35.29% | 45.71% | 150% | 269.7% | 58.75% | 31.03% | -52.63% | -150.99% | 55.47% | 74.63% | -1440% | -54.55% | -81.36% | 4782.54% | 55.79% | 67.94% | 11.1% | 72.22% | -56.52% | -64.29% | 87.5% | -6944.03% | 98.47% |
| EPS (Basic) | - | -0.94 | -0.26 | 0.73 | -0.25 | -0.32 | -0.22 | 0.27 | 0.33 | 0.52 | 0.35 | 0.14 | -0.08 | -0.20 | -0.29 | -0.19 | -0.08 | -0.17 | -0.67 | 0.05 | 0.11 | 0.61 | -0.01 | -0.03 | -0.09 | -0.10 | -0.36 | -0.23 | -0.14 | -1.12 | -0.02 |
| Diluted Shares Outstanding | 69.67M | 73.48M | 74.43M | 74.39M | 72.5M | 71.98M | 67.5M | 62.17M | 62.53M | 61.02M | 56.51M | 56.85M | 55.95M | 55.55M | 51.46M | 46.91M | 46.19M | 45.88M | 46.55M | 46.88M | 46.58M | 46.15M | 44.46M | 39.79M | 37.58M | 36.87M | 35M | 13.91M | 13.57M | 20.1M | 18.9M |
| Basic Shares Outstanding | 69.67M | 73.48M | 74.43M | 73.35M | 72.5M | 71.98M | 67.5M | 61.67M | 61.11M | 59.05M | 55.62M | 56.4M | 55.95M | 55.55M | 51.46M | 46.91M | 46.19M | 45.88M | 46.55M | 46.33M | 45.91M | 45.11M | 44.46M | 39.79M | 37.58M | 36.87M | 35M | 13.91M | 13.57M | 20.1M | 18.9M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and solvency crisis
As reported in recent financial statements, OraSure's revenue has experienced a severe downward trajectory, culminating in a 99.9% year-over-year decline in 2026Q1, which highlights the company's inability to replace expiring pandemic-era government contracts with sustainable, non-cyclical volume from its core diagnostic and molecular solutions segments.
The consistent quarterly revenue decay suggests that the company's legacy product lines lack the necessary market penetration to offset the massive loss of COVID-19 testing demand. This trend indicates that the business is currently struggling to find a stable revenue floor, raising concerns about the long-term viability of its current commercial strategy.
Based on the company's reported figures, gross margins have compressed from historical highs near 47% to approximately 41% in recent periods, reflecting the significant impact of manufacturing underutilization and potential inventory write-downs as the firm attempts to pivot away from its pandemic-era production capacity.
The inability to maintain gross margins suggests that the company's fixed-cost manufacturing base is currently misaligned with its reduced revenue scale. Investors should monitor whether management can successfully transition to higher-margin genomic products, as the current margin profile appears insufficient to cover the company's operating expenses.
According to recent SEC filings, OraSure's operating margin has plummeted to -83% in 2026Q1, demonstrating that the company's high fixed-cost structure has become a significant liability as revenue volumes have collapsed, leaving the firm unable to achieve the operating leverage required for profitability.
The persistent operating losses indicate that SG&A and R&D expenses have not been adjusted rapidly enough to match the declining revenue environment. This lack of operational agility suggests that the company may be burning through its remaining cash reserves at an unsustainable rate, necessitating immediate cost-restructuring measures.
As indicated by the provided financial data, the quality of earnings is currently severely compromised by deep net losses and the absence of positive cash flow, with stock-based compensation continuing to dilute shareholders despite the company's failure to generate any meaningful bottom-line profitability.
The consistent net losses suggest that the company's reported EPS is not reflective of a sustainable business model, but rather a firm in a state of financial distress. The continued issuance of stock-based compensation during a period of extreme revenue contraction warrants further investigation into management's capital allocation priorities.
While some analysts may point to the potential stickiness of the Molecular Solutions segment, the reported cash and equivalents of only $199,278 suggest an immediate liquidity crisis that may render long-term strategic pivots irrelevant if the company cannot secure additional financing or achieve rapid cash-flow neutrality.
The market's focus on the potential of the genomic business may be ignoring the immediate solvency risks presented by the current cash position. If the reported cash figure is accurate, the company's ability to continue operations without significant external capital injection appears highly questionable, regardless of the underlying product quality.
Quick answers to the most common questions about buying OSUR stock.
For fiscal year 2025, OraSure Technologies, Inc. (OSUR) reported total revenue of $115.0M. This represents a 67.4% increase compared to $68.7M in 1996.
OraSure Technologies, Inc. (OSUR) reported a net loss of $68.7M for the fiscal year ending 2025.
OraSure Technologies, Inc. (OSUR) reported an operating income of $-68.1M, resulting in an operating profit margin of -59.2%. This margin reflects the operational efficiency of the business before interest and taxes.
OraSure Technologies, Inc. (OSUR) generated $48.2M in gross profit for the year, representing a gross profit margin of 41.9%. This demonstrates the company's core pricing power and production efficiency.