OraSure Technologies, Inc. released its financial results for the first quarter of 2025, reporting net revenues of $29.931 million, a significant decrease from the $54.132 million reported in the same period of 2024. The company recorded a net loss of $16.040 million compared to a net loss of $3.584 million in the first quarter of 2024. A major factor in the decline was the sharp decrease in COVID-19 diagnostics revenue, which fell by 98% to $457,000 from $23.097 million the previous year. Other segments showed varied performance, with diagnostics revenue increasing by 8% to $17.689 million, while sample management solutions and risk assessment testing saw declines of 16% and 32%, respectively. OraSure's President and CEO, Carrie Eglinton Manner, noted that the results were in line with expectations and highlighted the company's focus on advancing its innovation roadmap with multiple new product milestones planned for 2025. Despite the current challenges, OraSure remains confident in its ability to achieve accelerated growth in its core business in the coming years.
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