Results included a USD 22.6 million reduction in contingent consideration tied to an updated FDA submission plan for the Sherlock CT/NG test.
OraSure cited FDA clearance for its Colli-Pee Dx at-home urine collection kit and FDA EUA for the OraQuick Ebola 2.0 test; Q3 revenue outlook is USD 29.5 million to USD 32.5 million.
Q2 results improve on lower revenue
OraSure posted Q2 GAAP net income of USD 6.2 million, swinging from a loss, as operating income reached USD 5.4 million.
Net revenues slipped 2% year over year to USD 30.6 million, though they rose 10% sequentially.
Gross margin improved 1.4 percentage points to 43.5%, while cash and cash equivalents totaled USD 161 million at quarter-end.
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