BETHLEHEM, Pa.- 2025 is officially in the rearview mirror for OraSure Technologies (OTI). 

That might be a good thing, given the company’s continued struggle to find its footing in a post-COVID-19 world.

The medical technology company, which makes diagnostic tests and sample collection devices used in healthcare, has unveiled its fiscal fourth quarter (Q4) and full-year results for 2025.

President and CEO Carrie Eglinton Manner has previously referred to 2025 as a transition year, and did so again Wednesday evening, during a webcast discussion of the company’s balance sheet.

But, she said, “here in 2026 we are already seeing signs of market stabilization, and we are also well positioned to capitalize on the growth opportunities that our near-term product roadmap can unlock.”

Late last year, OraSure submitted applications to the Food and Drug Administration (FDA) for clearance for a pair of products: a rapid molecular self-test for the types of bacteria that cause the sexually transmitted infections (STIs) Chlamydia and gonorrhoeae; and for an at-home urine collection device for various STIs.

Also, the company has been authorized to distribute its OraQuick HIV Self-Test in Canada.

The numbers

OraSure reported that total net revenue for the fourth quarter of 2025 decreased 29% to $26.8 million, down from $37.4 million in the fourth quarter of 2024. Core revenue, which excludes COVID-19, molecular services, and risk assessment testing revenue, was right behind at $26.7 million.

The company has shed the risk assessment and molecular services components of its business.

Core revenue for the year was recorded as $115 million, down 38% from 2024. Last year, COVID-19 diagnostics only contributed $624,000 to OTI’s bottom line. In 2024, that figure was $45.1 million.

Also, GAAP (Generally Accepted Accounting Principles) operating loss in the fourth quarter was $20.1 million compared to an operating loss of $12.4 million in the fourth quarter of 2024.

Non-GAAP operating loss was $15.2 million in the fourth quarter compared to non-GAAP operating loss of $6.7 million in the fourth quarter of 2024.

Diluted earnings per share was -$0.27 for Q4, and -$0.94 for the full year.

For the first quarter of 2026, OraSure is guiding to revenue of $26 million to $29 million. 

In the markets 

Shares of OraSure (NASDAQ: OSUR) were listed at $2.80 when markets closed on Wednesday. That’s near the middle of their 52-week range. The company has a market capitalization of $202.3 million.