Skip to main content
Premium Trial:

Request an Annual Quote

Earnings Roundup: OraSure Technologies, Standard BioTools, LumiraDx, More

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.

The Scan

ChatGPT Does As Well As Humans Answering Genetics Questions, Study Finds

Researchers in the European Journal of Human Genetics had ChatGPT answer genetics-related questions, finding it was about 68 percent accurate, but sometimes gave different answers to the same question.

Sequencing Analysis Examines Gene Regulatory Networks of Honeybee Soldier, Forager Brains

Researchers in Nature Ecology & Evolution find structural network differences between soldiers and foragers, suggesting bees can take on either role.

Analysis of Ashkenazi Jewish Cohort Uncovers New Genetic Loci Linked to Alzheimer's Disease

The study in Alzheimer's & Dementia highlighted known genes, but also novel ones with biological ties to Alzheimer's disease.

Tara Pacific Expedition Project Team Finds High Diversity Within Coral Reef Microbiome

In papers appearing in Nature Communications and elsewhere, the team reports on findings from the two-year excursion examining coral reefs.