OraSure Cuts SG&A 37% and Plans 2026 CT/NG, Colli-Pee Launches
OraSure has reduced annual SG&A expenses by 37% since 2022 and expanded adjusted gross margins by approximately 260 basis points through site closures and workforce consolidation. The company expects 2026 FDA clearances and commercial launches for its Sherlock CT/NG and Colli-Pee devices and has initiated a $40M share repurchase program.
1. Operational Restructuring
OraSure has reduced its global workforce by approximately 40%, closed four sites, and consolidated production into its Pennsylvania footprint, driving a 37% decrease in annual SG&A (excluding R&D) since 2022 and contributing roughly 260 basis points of adjusted gross margin expansion over three years.
2. Product Launches and Milestones
At the end of 2025, OraSure submitted FDA applications for its Sherlock rapid molecular self-test for Chlamydia trachomatis/Neisseria gonorrhoeae and the Colli-Pee at-home urine collection device, positioning the company for regulatory decisions and commercial launches in 2026 across a combined $2 billion addressable market.
3. Capital Allocation
Maintaining a debt-free balance sheet, OraSure launched a $40 million share repurchase program to enhance free cash flow and shareholder value while preserving capital flexibility for strategic acquisitions, partnerships, and R&D investments in high-growth diagnostic markets.
4. Governance and Engagement with Altai
OraSure’s fully refreshed Board has added three independent directors since 2023 and proposed multiple settlement offers—including appointing Altai’s nominee John Bertrand—to address Altai Capital’s demand for a board seat and resist an ill-timed sale push.