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Orasure Technologies Inc.: Q3 FY2026 earnings call

What management said about Q3 FY2026, from the documents filed with the SEC on 9 November 2026: press release. Guidance figures: 1 new. The quarter’s numbers.

Key takeaways

  • Revenue rose 14% year over year: Total net revenues were $30.9 million, up 14% year over year and 1% sequentially. Nine-month revenue was $89.5 million, up 1% from the prior year. Source
  • Q4 revenue range guided: The company guided to Q4 2026 total revenues of $30.0 million to $32.0 million. Source
  • Colli-Pee•Dx initial sales began: Initial sales of the at-home urine collection kit were generated. It is cleared for use with Roche STI tests and supports first-void urine collection by males and females. Source
  • Ebola test initial sales began: Initial sales of the OraQuick Ebola 2.0 test were generated. The company said it detects all four Ebola viruses currently known to cause disease in humans. Source
  • GAAP gross margin rose to 45.2%: GAAP gross margin was up from 43.5%. The company attributed the increase mainly to operational efficiencies that improved absorption of fixed overhead, partly offset by product mix. Source
  • Cash fell to $148 million: Cash and cash equivalents were $148.2 million, down from $199.3 million at December 31, 2025. Nine-month cash used in operating activities was $34.7 million. Source

“Our third quarter results demonstrate the continued execution of our strategy.”

Carrie Eglinton Manner, President and CEO of OTI

Guidance

AreaPeriodFigureAgainst last quarter
Total revenues SourceQ4 2026$30.0 million to $32.0 millionNew
Total revenue growth SourceFull year 20264.7% at the midpoint of the range

What changed from last quarter

  • New guidance: Q4 2026 total revenue range of $30.0 million to $32.0 million was given. The prior release gave a Q3 range instead. Source
  • New guidance: Management stated an expected acceleration of total revenue growth in full year 2027 compared with 2026. Source
  • New: Initial sales of the Colli-Pee•Dx Urine Collection Kit were generated in the quarter, after the June FDA clearance noted in the prior release. Source
  • New: Initial sales of the OraQuick Ebola 2.0 Rapid Antigen Test were generated in the quarter, after the July emergency use authorization noted in the prior release. Source
  • New: Early development of HPV testing as a future application for Colli-Pee•Dx was advanced with partners. The prior release did not mention this. Source

Results and growth drivers

  • Revenue rose 14% year over year: Total net revenues were $30.9 million, up 14% year over year and 1% sequentially. Nine-month revenue was $89.5 million, up 1% from the prior year. Source
  • Core revenue drove the increase: Core revenues, excluding COVID-19 and Risk Assessment Testing, were $30.9 million. COVID-19 revenue was $22 thousand, down 75%, and Risk Assessment Testing revenue was nil. Source
  • Operating loss narrowed year over year: GAAP operating loss was $13.0 million, compared with $16.1 million a year earlier. Non-GAAP operating loss was $10.2 million, compared with $12.7 million. Source
  • Net loss and EPS compared: GAAP net loss was $13.1 million, compared with $13.7 million. Diluted EPS was $(0.19) in both periods. Non-GAAP diluted EPS was $(0.15), compared with $(0.13). Source
  • Q4 revenue range guided: The company guided to Q4 2026 total revenues of $30.0 million to $32.0 million. Source

Segments and revenue lines

  • Diagnostics revenue rose 16%: Diagnostics revenue was $16.8 million. The increase was attributed to higher HIV and HCV revenues and to the addition of BioMedomics' Sickle SCAN sales. Source
  • Sample Management grew 21%: Sample Management Solutions revenue was $12.5 million. The increase was attributed to key commercial customer growth and the timing of specific orders. Source

“Looking ahead to the fourth quarter and into 2027, we believe we are well positioned for continued revenue growth,”

Carrie Eglinton Manner, President and CEO of OTI

New launches and collaborations

  • Colli-Pee•Dx initial sales began: Initial sales of the at-home urine collection kit were generated. It is cleared for use with Roche STI tests and supports first-void urine collection by males and females. Source
  • Ebola test initial sales began: Initial sales of the OraQuick Ebola 2.0 test were generated. The company said it detects all four Ebola viruses currently known to cause disease in humans. Source
  • HPV testing development advanced: Early development of HPV testing as a potential future application for Colli-Pee•Dx advanced with global molecular diagnostics partners. Source

Costs, margins and pricing

  • GAAP gross margin rose to 45.2%: GAAP gross margin was up from 43.5%. The company attributed the increase mainly to operational efficiencies that improved absorption of fixed overhead, partly offset by product mix. Source
  • Nine-month gross margin higher: Nine-month GAAP gross margin was 43.7%, compared with 42.2%. Non-GAAP gross margin was 45.9% for the quarter, compared with 44.2%. Source
  • Operating expense lines shifted: Research and development fell to $7.6 million from $10.1 million. General and administrative rose to $12.0 million from $11.1 million. Sales and marketing was $6.6 million, compared with $6.3 million. Source
  • Workforce severance excluded from non-GAAP: Non-GAAP results exclude $1.3 million of nine-month workforce reduction severance. The company describes it as termination benefits tied to the workforce reduction. Source

“Supported by a robust balance sheet, we will continue to invest behind initiatives to accelerate topline growth, improve our operating model, and drive towards profitability.”

Carrie Eglinton Manner, President and CEO of OTI

Cash and balance sheet

  • Cash fell to $148 million: Cash and cash equivalents were $148.2 million, down from $199.3 million at December 31, 2025. Nine-month cash used in operating activities was $34.7 million. Source
  • Operating cash use and capex: Nine-month cash used in operating activities was $34.7 million, compared with $40.0 million. Capital expenditures were $5.0 million, compared with $3.3 million. Source
  • Receivables rose; contingent liability cleared: Accounts receivable were $30.4 million, up from $22.2 million at December 31, 2025. The contingent consideration obligation was nil, compared with $18.4 million. Source

Capital and shareholder returns

  • Nine-month buybacks were $7.0 million: Repurchases of common stock were $7.0 million for the nine months, compared with $10.0 million a year earlier. No separate quarterly repurchase figure is given. Source
  • Repurchase authorization context: The prior release said repurchases to date totaled about $22 million, or 7.7 million shares, under a $40 million authorization.
  • Weighted share count declined: Weighted average basic shares were 69.0 million in the third quarter, compared with 73.0 million a year earlier. Source
  • Taxes paid on share settlement: Payments of taxes related to net share settlement of equity awards were $1.5 million for the nine months, compared with $1.8 million. Source

Strategy and direction

  • Decentralized diagnostics strategy: Management described the launches as steps to decentralize diagnostics and connect people to care that is more accessible, convenient, affordable, and private. Source
  • Continued investment in growth: Management said it will keep investing in initiatives to accelerate topline growth and improve the operating model, while driving toward profitability. Source
  • Positioned for growth into 2027: Management said it believes the company is well positioned for continued revenue growth into the fourth quarter and 2027. Source

Coming up, as management said on 9 November 2026

  • Q4 revenue range guided: The company guided to Q4 2026 total revenues of $30.0 million to $32.0 million. Source
  • Growth acceleration expected in 2027: The company expects year-over-year total revenue growth to accelerate in full year 2027 compared with 2026. Source
  • Continued investment in growth initiatives: Management said it will continue investing in initiatives to accelerate topline growth and improve the operating model. Source

Earlier plans management reported on

  • Not stated: The current release does not state whether the Q3 2026 revenue range was met.

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.