NEW YORK – OraSure Technologies said this week that its third quarter revenues more than doubled year over year to $116.5 million from $53.9 million a year ago. The consensus Wall Street revenue estimate was $91.7 million. Core diagnostics revenue grew to $18.1 million from $15.8 million a year ago, while IntelliSwab revenues spiked to $79.6 million from $7.7 million. Core molecular solutions dipped to $18.5 million from $24.2 million, and COVID-19 kit revenues fell to $361,000 from $6.3 million. The firm posted a profit of $5.3 million, or $.07 per share, for Q3 2022 compared to a net loss of $15.0 million, or $.21 per share, a year ago. Non-GAAP EPS for the recently completed quarter was $.13, beating the consensus Wall Street estimate of a loss per share of $.04. OraSure exited Q3 with $75.2 million in cash and cash equivalents and $26.4 million in short-term investments.
Standard BioTools this week reported that its third quarter revenues dropped 10 percent year over year to $25.6 million from $28.5 million a year ago, primarily due to lower instrument and COVID-19 testing revenue. Core product and service revenue, excluding COVID-19 testing and revenue from discontinued products, was $24.8 million, up sequentially from $19.0 million in the second quarter and down 2 percent from $25.3 million a year ago. The South San Francisco, California-based life science tools provider reported a Q3 net loss of $29.4 million, or $.37 per share, compared to a net loss of $13.8 million, or $.18 per share, a year ago. The company finished the quarter with $60.2 million in cash and cash equivalents and $125.0 million in short-term investments.
LumiraDx this week said that its third quarter revenues slumped 61 percent year over year to $42.2 million from $109.1 million. The London-based developer of point-of-care diagnostics posted a net loss of $143.4 million, or $.47 per share, for the quarter compared to a profit of $132.4 million, or $.72 per share, a year ago. It ended Q3 2022 with $135.3 million in cash and cash equivalents. LumiraDx noted that during the quarter it had begun a restructuring plan to "resize" its operations, a move expected to save the firm $18 million each quarter.
Epigenomics reported €386,000 ($387,000) in revenues for the first nine months of 2022, down from €6.0 million for the first nine months of 2021. The company attributed the drop to a decrease in sales of samples from its blood sample bank, which was divested last year. For the first nine months 2021, Epigenomics posted €5.7 million in such sales. Excluding that business, total revenues for the year-ago period would have been €347,000, Epigenomics said. The company had a net loss for the recently completed period of €5.5 million, or €.34 per share, compared to a net loss of €691,000, or €.07 per share, a year ago. As of Sept. 30, Epigenomics had €15.8 million in cash and cash equivalents. It confirmed its prior revenue guidance for full-year 2022 of between €300,000 and €800,000.