OraSure (OSUR) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-16537
Entity Registrant Name	ORASURE TECHNOLOGIES, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4370966
Entity Address, Address Line One	220 East First Street
Entity Address, City or Town	Bethlehem
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18015
City Area Code	610
Local Phone Number	882-1820
Title of 12(b) Security	Common Stock, $0.000001 par value per share
Trading Symbol	OSUR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		73,484,272
Entity Central Index Key	0001116463
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 217,533,000	$ 83,980,000
Short-term investments	7,358,000	26,867,000
Accounts receivable, net of allowance of $2,289 and $2,365	53,402,000	70,797,000
Inventories	59,264,000	95,704,000
Prepaid expenses	6,423,000	6,273,000
Other current assets	12,484,000	41,569,000
Total current assets	356,464,000	325,190,000
Noncurrent Assets:
Property, plant and equipment, net of accumulated depreciation of $84,168 and $69,881	48,027,000	59,413,000
Operating right-of-use assets, net	13,302,000	10,399,000
Finance right-of-use assets, net	793,000	1,293,000
Intangible assets, net of accumulated amortization of $27,336 and $31,077	3,793,000	11,694,000
Goodwill	35,033,000	35,104,000
Deferred tax asset	47,000	0
Other noncurrent assets	973,000	1,087,000
Total noncurrent assets	101,968,000	118,990,000
TOTAL ASSETS	458,432,000	444,180,000
Current Liabilities:
Accounts payable	14,966,000	38,020,000
Deferred revenue	1,824,000	2,273,000
Accrued expenses and other current liabilities	21,140,000	25,762,000
Finance lease liability	1,000,000	1,179,000
Operating lease liability	2,017,000	1,764,000
Acquisition-related contingent consideration obligation	0	65,000
Total current liabilities	40,947,000	69,063,000
Noncurrent Liabilities:
Finance lease liability	247,000	503,000
Operating lease liability	11,758,000	9,101,000
Acquisition-related contingent consideration obligation	0	99,000
Other noncurrent liabilities	595,000	581,000
Deferred income taxes	0	408,000
Total noncurrent liabilities	12,600,000	10,692,000
TOTAL LIABILITIES	53,547,000	79,755,000
Commitments and contingencies (Note 12)
STOCKHOLDERS' EQUITY
Preferred stock, par value $0.000001, 25,000 shares authorized, none issued	0	0
Common stock, par value $0.000001, 120,000 shares authorized, 73,483 and 72,734 shares issued and outstanding	0	0
Additional paid-in capital	526,261,000	520,446,000
Accumulated other comprehensive loss	(17,372,000)	(18,435,000)
Accumulated deficit	(104,004,000)	(137,586,000)
Total stockholders' equity	404,885,000	364,425,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 458,432,000	$ 444,180,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,289	$ 2,365
Accumulated depreciation of property and equipment	84,168	69,881
Accumulated amortization of intangible assets	$ 27,336	$ 31,077
Preferred stock, par value (in USD per share)	$ 0.000001	$ 0.000001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.000001	$ 0.000001
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	73,483,000	72,734,000
Common stock, shares outstanding (in shares)	73,483,000	72,734,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
NET REVENUES:
Total revenue	$ 89,187	$ 116,463	$ 329,591	$ 264,401
COST OF PRODUCTS AND SERVICES SOLD	44,847	69,949	193,065	165,791
Gross profit	44,340	46,514	136,526	98,610
OPERATING EXPENSES:
Research and development	8,516	10,088	26,737	28,185
Sales and marketing	8,736	13,474	29,413	37,875
General and administrative	10,051	15,527	44,186	52,262
Loss on impairments	6,183	6,559	7,503	17,101
Change in the estimated fair value of acquisition-related contingent consideration	(40)	0	(99)	(36)
Total operating expenses	33,446	45,648	107,740	135,387
Operating income (loss)	10,894	866	28,786	(36,777)
OTHER INCOME	2,612	3,586	6,752	5,467
Income (loss) before income taxes	13,506	4,452	35,538	(31,310)
INCOME TAX (BENEFIT) EXPENSE	2,347	(1,143)	1,956	1,624
NET INCOME (LOSS)	$ 11,159	$ 5,595	$ 33,582	$ (32,934)
INCOME (LOSS) PER SHARE:
BASIC (in USD per share)	$ 0.15	$ 0.08	$ 0.46	$ (0.45)
DILUTED (in USD per share)	$ 0.15	$ 0.08	$ 0.45	$ (0.45)
WEIGHTED-AVERAGE SHARES OUTSTANDING:
BASIC (in shares)	73,453	72,616	73,298	72,448
DILUTED (in shares)	74,349	72,785	74,197	72,448
Products and services
NET REVENUES:
Total revenue	$ 89,014	$ 112,821	$ 326,666	$ 257,224
Other
NET REVENUES:
Total revenue	$ 173	$ 3,642	$ 2,925	$ 7,177

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 11,159	$ 5,595	$ 33,582	$ (32,934)
OTHER COMPREHENSIVE INCOME
Currency translation adjustments	(2,813)	(9,828)	843	(12,421)
Unrealized gain on marketable securities	0	11	220	167
COMPREHENSIVE INCOME (LOSS)	$ 8,346	$ (4,222)	$ 34,645	$ (45,188)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		21 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ 11,159	$ 27,219	$ 5,595	$ (19,940)	$ 33,582	$ (32,934)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation					7,602	9,100
Depreciation and amortization					17,372	11,391
Loss on impairments	6,183		6,559		7,503	17,101
Other non-cash amortization					3	411
Provision for credit losses					(75)	974
Unrealized foreign currency gain					(66)	(396)
Interest expense on finance leases					42	74
Deferred income taxes					(490)	542
Loss on sale of fixed assets					0	729
Change in the estimated fair value of acquisition-related contingent consideration	(40)		0		(99)	(36)
Payment of acquisition-related contingent consideration					(19)	0
Changes in assets and liabilities:
Accounts receivable					17,468	(19,152)
Inventories		500			36,425	(26,240)
Prepaid expenses and other assets					10,530	(5,990)
Accounts payable		(1,300)			(25,122)	15,315
Deferred revenue					(449)	(312)
Accrued expenses and other liabilities					(3,990)	233
Net cash provided by (used in) operating activities					100,217	(29,190)
INVESTING ACTIVITIES:
Purchases of short-term investments					(74,652)	(22,873)
Proceeds from maturities and redemptions of short-term investments					94,980	47,415
Purchases of property and equipment					(4,517)	(28,081)
Purchase of property and equipment under government contracts					(4,501)	(38,705)
Proceeds from funding under government contract					24,290	37,756	$ 84,600
Net cash provided by (used in) investing activities					35,600	(4,488)
FINANCING ACTIVITIES:
Cash payments for lease liabilities					(835)	(826)
Proceeds from exercise of stock options					76	15
Payment of acquisition-related contingent consideration					(46)	(208)
Repurchase of common stock					(1,863)	(2,008)
Net cash used in financing activities					(2,668)	(3,027)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH					404	(4,852)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS					133,553	(41,557)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		$ 83,980		$ 116,762	83,980	116,762	116,762
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 217,533		$ 75,205		217,533	75,205	$ 217,533
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash (refunds) paid for income taxes					(5,733)	9,400
Non-cash investing and financing activities
Accrued property and equipment purchases					155	1,463
Accrued property and equipment purchases under government contracts					2	2,374
Unrealized gain on marketable securities					$ 0	$ 167

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation . The accompanying interim unaudited consolidated financial statements include the accounts of OraSure Technologies, Inc. (“OraSure”) and its wholly-owned subsidiaries, DNA Genotek Inc. (“DNAG”), Diversigen, Inc. (“Diversigen”), and Novosanis NV (“Novosanis”). All intercompany transactions and balances have been eliminated. References herein to “we,” “us,” “our,” or the “Company” mean OraSure and its consolidated subsidiaries, unless otherwise indicated. The unaudited financial statements, in the opinion of management, include all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of the Company's financial position and results of operations for these interim periods. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results of operations expected for the full year. Summary of Significant Accounting Policies . There have been no changes to the Company's significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 that have had a material impact on the consolidated financial statements and related notes except as discussed herein. See Note 11 for the discussion regarding the change in business segments. Cash Equivalents & Short-Term Investments . The Company considers all investments in debt securities to be available-for-sale securities. These securities consist of guaranteed investment certificates and corporate bonds purchased with maturities greater than ninety days. Securities with maturities ninety days or less are considered cash equivalents. Available-for-sale securities are carried at fair value, based upon quoted market prices, with unrealized gains and losses, if any, reported in stockholders’ equity as a component of accumulated other comprehensive loss. The Company records an allowance for credit loss for its available-for-sale securities when a decline in investment market value is due to credit-related factors. When evaluating an investment for impairment, the Company reviews factors such as the severity of the impairment, changes in underlying credit ratings, forecasted recovery, the Company’s intent to sell or the likelihood that it would be required to sell the investment before its anticipated recovery in market value and the probability that the scheduled cash payments will continue to be made. The following is a summary of the Company's available-for-sale securities (in thousands): Amortized Gross Gross Fair Value September 30, 2023 Guaranteed investment certificates $ 7,358 $ — $ — $ 7,358 Corporate bonds — — — — Total $ 7,358 $ — $ — $ 7,358 December 31, 2022 Guaranteed investment certificates $ 22,109 $ — $ — $ 22,109 Corporate bonds 4,978 — (220) 4,758 Total $ 27,087 $ — $ (220) $ 26,867 At September 30, 2023, maturities of the Company's available-for-sale securities were as follows: Less than one year $ 7,358 $ — $ — $ 7,358 Greater than one year $ — $ — $ — $ — Fair Value of Financial Instruments . As of September 30, 2023 and December 31, 2022, the carrying values of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their respective fair values based on their short-term nature. Fair value measurements of all financial assets and liabilities that are being measured and reported on a fair value basis are required to be classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). All of the Company's available-for-sale corporate bonds are measured as Level 2 instruments and the Company's available-for-sale guaranteed investment certificates are measured as Level 1 instruments as of September 30, 2023 and December 31, 2022. Included in cash and cash equivalents at September 30, 2023 and December 31, 2022 was $37.1 million and $1.7 million, respectively, invested in money market funds. These money market funds have investments in government securities and are measured as Level 1 instruments. Included in cash and cash equivalents at September 30, 2023 was $14.7 million of guaranteed investment certificates which are also measured as Level 1 instruments. The Company offers a nonqualified deferred compensation plan for certain eligible employees and members of its Board of Directors. The assets of the plan are held in the name of the Company at a third-party financial institution. Separate accounts are maintained for each participant to reflect the amounts deferred by the participant and all earnings and losses on those deferred amounts. The assets of the plan are held in mutual funds and company stock. The fair value of the plan assets as of September 30, 2023 and December 31, 2022 was $0.6 million and $0.7 million, respectively, and was calculated using the quoted market prices of the assets as of those dates. All investments in the plan are classified as trading securities and measured as Level 1 instruments. The fair value of plan assets is included in both current assets and noncurrent assets with the same amount included in accrued expenses and other noncurrent liabilities in the accompanying consolidated balance sheets. Foreign Currency Translation . Net foreign exchange gains and (losses) resulting from foreign currency transactions that are included in other income in the Company's consolidated statements of operations were $(0.1) million and $2.3 million for the three months ended September 30, 2023 and 2022, respectively. Net foreign exchange gains and (losses) resulting from foreign currency transactions for the nine months ended September 30, 2023 and 2022 were $(0.7) million and $2.4 million, respectively. Impairment of Long-Lived Assets . Long-lived assets, which include property, plant and equipment and definite-lived intangible assets, are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company assesses the recoverability of the Company's long-lived assets by determining whether the carrying value of such assets can be recovered through the sum of the undiscounted future cash flows expected to be generated from the use and eventual disposition of the asset. If indicators of impairment exist, the Company measures the amount of such impairment by comparing the carrying value of the assets to the fair value of these assets, which is generally determined based on the present value of the expected future cash flows associated with the use of the assets. Expected future cash flows reflect the Company's assumptions about selling prices, volumes, costs and market conditions over a reasonable period of time. The Company identified a triggering event to test for the recoverability of intangible assets in the third quarter given the decline in the Company's market capitalization leading up to and as of its annual goodwill impairment testing date. The Company performed an undiscounted cash flow analysis and determined the carrying value of the developed technology, trade names, and customer relationships intangible assets could not be recovered through the sum of the undiscounted future cash flows. The Company used an income approach to determine the fair value of the developed technology and customer relationship intangible assets and the relief from royalty method for the trade names. For the three months ended September 30, 2023, the Company determined the developed technology, trade names, and customer relationships intangible assets associated with Diversigen and Novosanis were impaired as the fair value of the intangible assets did not exceed their carrying value. A full impairment loss of $6.2 million is recorded on the consolidated statement of operations for the three months ended September 30, 2023. There was no impairment of property, plant and equipment for the three months ended September 30, 2023 related to this triggering event. See Note 4 for discussion of equipment impairments recorded in the first half of 2023. Impairment of Goodwill . During the second quarter of 2022, we determined that a triggering event occurred in relation to the depressed market price of the Company's common stock and corresponding significant decline in our market capitalization. As a result, we performed an interim goodwill impairment test and concluded that the carrying value of our Diagnostics reporting unit exceeded its estimated fair value and the goodwill balance for that segment was fully impaired. Thus, we recognized a pre-tax impairment charge of $3.6 million during the three months ended June 30, 2022, which is reported in loss on impairments in our condensed consolidated statement of operations. Accumulated Other Comprehensive Loss . Changes in accumulated other comprehensive loss by component is listed below (in thousands): Foreign Currency Marketable Securities Total Balance at December 31, 2022 $ (18,215) $ (220) $ (18,435) Other comprehensive gain 843 220 1,063 Balance at September 30, 2023 $ (17,372) $ — $ (17,372) Immaterial Correction of Errors. Inventories, accounts payable and cost of products and services were reduced by $0.5 million, $1.3 million and $0.8 million, respectively, as of and for the year ended December 31, 2022 to correct for the accounting of a vendor rebate earned in 2022. The tax impact of the vendor rebate was negligible. This correction was deemed to be immaterial to the consolidated financial statements as of and for the year ended December 31, 2022. For the three and nine months ended September 30, 2022, cost of products and services sold was reduced by $0.3 million and $0.6 million, respectively. The respective operating activities on the consolidated statement of cash flows for the nine months ended September 30, 2022 has also been adjusted. Furthermore, stockholder's equity at September 30, 2022 has been adjusted to reflect the reduction in cost of products and services sold. Reclassification . Certain prior period amounts have been reclassified to conform to current year presentations. For the three and nine months ended September 30, 2022, $0.3 million and $0.9 million of research and development expenses were reclassified to other income in relation to the U.S. Department of Defense (the “DOD”) engineering consulting costs further described in Note 2. This reclassification was made to conform to the presentation in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. Change in Accounting Estimate. During the three months ended June 30, 2023, the Company shortened the useful lives of machinery and equipment utilized for InteliSwab® production in Thailand. This reduction in useful lives resulted in $6.9 million of accelerated depreciation during the three months ended June 30, 2023, recorded in cost of products and services sold.

Government Capital Contracts

Government Capital Contracts	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Government Capital Contracts	Government Capital Contracts In September 2021, the Company entered into an agreement for $109.0 million in funding from the DOD, in coordination with the Department of Health and Human Services, to build additional manufacturing capacity in the United States for its InteliSwab ® COVID-19 Rapid Tests as part of the nation’s pandemic preparedness plan. Funding will be paid to the Company based on achievement of milestones through December 2023 for the design, acquisition, installation, qualification and acceptance of the manufacturing equipment, as set forth in the agreement. In accordance with the milestone payment schedule, 15% of the total will not be billed and funded until the completion of the final validation testing, which occurred in October 2023. The Company began making payments to vendors for the capital project during the fourth quarter of 2021. The Company began receiving funds from the DOD in January 2022 and has received $84.6 million, as of September 30, 2023. The remaining $24.4 million was received in October 2023. Activity for these capital contracts is accounted for pursuant to International Accounting Standards ("IAS") 20, Accounting for Government Grants and Disclosure of Government Assistance . Funding received in relation to capital-related costs incurred for government contracts is recorded as a reduction to the cost of property, plant and equipment and reflected within investing activities in the consolidated statements of cash flows; and associated unpaid liabilities and government proceeds receivable are considered non-cash changes in such balances within the operating section of the consolidated statements of cash flows. Amounts earned for the Company's guaranteed profit which covers project management costs are recognized straight-line in other income over the term of the government contract. Any amount received in excess of the guaranteed profit discussed above will be recorded in other income at time of payment. The Company recognized $0.6 million of such income, which is reported as other income in the Company's consolidated statement of operations for both the three months ended September 30, 2023 and 2022. The Company recognized $1.7 million of such income, for both the nine months ended September 30, 2023 and 2022. The DOD also reimburses the Company for certain engineering consulting costs. These expenses are reflected in research and development as incurred with the corresponding reimbursement presented in other income. For the three months ended September 30, 2023 and 2022, $0.4 million and $0.3 million, respectively, were recorded in research and development and other income. For the nine months ended September 30, 2023 and 2022, $2.0 million and $0.9 million, respectively, were recorded in research and development and other income. The balances corresponding to government contracts included in the Company's consolidated balance sheet are as follows (in thousands): September 30, December 31, 2023 2022 Other current assets: Billed receivables $ 4,365 $ — Unbilled receivables 5,956 27,013 Total other current assets 10,321 27,013 Accrued expenses and other current liabilities $ — $ (318) The activity corresponding to the government contracts included in the Company's consolidated statements of cash flows is as follows (in thousands): September 30, December 31, 2023 2022 Cost of assets, cumulative $ 86,993 $ 83,359 Reduction for funding earned to date, not yet received (1,841) (22,497) Reduction for funding received to date (85,152) (60,862) Total property, plant and equipment, net $ — $ —

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories (in thousands) September 30, December 31, 2023 2022 Raw materials $ 26,115 $ 42,445 Work in process 2,459 2,335 Finished goods 30,690 50,924 $ 59,264 $ 95,704

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, net (in thousands) September 30, December 31, 2023 2022 Land $ 1,118 $ 1,118 Buildings and improvements 35,714 35,582 Machinery and equipment 65,371 60,725 Computer equipment and software 17,352 16,681 Furniture and fixtures 4,079 4,064 Construction in progress 8,561 11,124 132,195 129,294 Accumulated depreciation (84,168) (69,881) $ 48,027 $ 59,413 During the nine months ended September 30, 2023, the Company determined several manufacturing lines will not be utilized due to changes in forecasted demand for the products the equipment is intended to produce. Additionally, the Company elected not to proceed with certain leasehold improvements to its research and development laboratories. As a result of these decisions, the Company determined that the carrying values of the equipment and leasehold improvements made to date are not recoverable and recorded aggregate pre-tax asset impairment charges of $1.3 million during the nine months ended September 30, 2023. No property, plant and equipment impairment charges were recorded during the three months ended September 30, 2023. During the three and nine months ended September 30, 2022, the Company determined several manufacturing lines and associated supporting assets would not be utilized due to changes in forecasted demand for the products the lines are intended to produce. As a result of this decision, the Company determined that the carrying values of the equipment and supporting assets were not recoverable and recorded aggregate pre-tax asset impairment charges during the three and nine months ended September 30, 2022 of $6.6 million and $13.5 million, respectively. Due to the extremely specialized nature of the equipment and various market data points, the estimated fair value was zero. These charges are reported within loss on impairments in the consolidated statement of operations.

Accrued Expenses and other curr

Accrued Expenses and other current liabilities	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and other current liabilities	Accrued Expenses and other current liabilities (in thousands) September 30, December 31, 2023 2022 Payroll and related benefits $ 12,213 $ 14,103 Professional fees 2,730 4,685 Sales tax payable 1,344 1,519 Other 4,853 5,455 $ 21,140 $ 25,762

Termination Benefits

Termination Benefits	9 Months Ended
	Sep. 30, 2023
Termination Benefits [Abstract]
Termination Benefits	Termination Benefits During the first and second quarters of 2023, the Company executed a reduction in workforce. This was accounted for pursuant to Accounting Standards Codification ("ASC") 420, Exit or Disposal Cost Obligations . The expense included in the Company's consolidated statements of operations are as follows (in thousands): Nine Months Ended Cost of products and services sold $ 369 Research and development 566 Sales and marketing 1,543 General and administrative 787 Total $ 3,265 As of September 30, 2023 the Company had $0.9 million accrued and had paid $2.4 million related to the reduction in workforce. No additional expense was incurred during the three months ended September 30, 2023.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenues by product line . The following table represents total net revenues by product line (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 COVID-19 (1) $ 50,199 $ 79,920 $ 216,115 $ 154,331 HIV 16,650 9,054 46,518 27,577 Molecular Products (2) 15,238 15,829 41,230 51,344 HCV 2,901 3,234 9,957 10,182 Risk assessment testing 2,554 2,595 7,540 7,786 Molecular Services 834 1,957 3,567 4,895 Other product and service revenues 638 232 1,739 1,109 Net product and services revenues 89,014 112,821 326,666 257,224 Non-product and services revenues (3) 173 3,642 2,925 7,177 Net revenues $ 89,187 $ 116,463 $ 329,591 $ 264,401 (1) Includes COVID-19 Diagnostics and COVID-19 Molecular Products. (2) Includes Genomics, Microbiome and Novosanis product revenues. (3) Non-product and services revenues include funded research and development contracts, royalty income and grant revenues. Revenues by geographic area . The following table represents total net revenues by geographic area, based on the location of the customer (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 77,925 $ 108,941 $ 296,815 $ 237,248 Europe 1,992 2,207 6,297 8,929 Other regions 9,270 5,315 26,479 18,224 $ 89,187 $ 116,463 $ 329,591 $ 264,401 Customer and Vendor Concentrations . At September 30, 2023, one non-commercial customer accounted for 52% of the Company's consolidated accounts receivable. The same non-commercial customer accounted for 57% of the Company's consolidated accounts receivable as of December 31, 2022. The same non-commercial customer also accounted for 56% and 69% of net consolidated revenues for the three months ended September 30, 2023 and 2022, respectively. The same non-commercial customer also accounted for 66% and 53% of net consolidated revenues for the nine months ended September 30, 2023 and 2022, respectively. The Company currently purchases certain products and critical components of its products from sole-supply vendors. If these vendors are unable or unwilling to supply the required components and products, the Company could be subject to increased costs and substantial delays in the delivery of its products to its customers. Third-party suppliers also manufacture certain products. The Company's inability to have a timely supply of any of these components and products could have a material adverse effect on its business, as well as its financial condition and results of operations. Deferred Revenue . The Company records deferred revenue when funds are received prior to the recognition of the associated revenue. Deferred revenue as of September 30, 2023 and December 31, 2022 included customer prepayments of $1.4 million and $1.5 million, respectively. Deferred revenue as of September 30, 2023 and December 31, 2022 also included $0.4 million and $0.7 million, respectively, associated with a long-term contract that has variable pricing based on volume. The average price over the life of the contract was determined and revenue is recognized at that average price.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income tax expense (benefits) are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 State income tax expense (benefit) $ 1,131 $ (40) $ 2,388 $ 379 Foreign income tax expense (benefit) 1,216 (1,103) (432) (438) Foreign withholding tax — — — 1,683 $ 2,347 $ (1,143) $ 1,956 $ 1,624 Income taxes for the nine months ended September 30, 2022 includes $1.7 million of Canadian withholding tax on the repatriation of $65.0 million of unremitted earnings from Canada to the United States. The increase in income tax expense for three months ended September 30, 2023 is due to an increase in the income before taxes for both the U.S. and Canadian entities. Income tax expense reflects taxes due to the taxing authorities and the tax effects of temporary differences between the basis of assets and liabilities recognized for financial reporting and tax purposes, and net operating loss and tax credit carryforwards. The significant components of the Company's total deferred tax asset as of September 30, 2023 relate to foreign net operating losses. The significant components of the Company's total deferred tax liability at December 31, 2022 relate to the tax effects of the basis difference between the intangible assets acquired in its acquisitions for financial reporting and for tax purposes along with basis differences arising from accelerated tax depreciation of fixed assets. A valuation allowance is recorded to the extent it is more likely than not that some portion or all of the deferred tax assets will not be realized. A full valuation allowance was recorded on the Company’s U.S. deferred tax assets as of September 30, 2023 and December 31, 2022.

Income (Loss) Per Share

Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Income (Loss) Per Share	Income (Loss) Per Share Basic income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed in a manner similar to basic earnings (loss) per share except that the weighted-average number of shares outstanding is increased to include incremental shares from the assumed vesting or exercise of dilutive securities, such as common stock options, unvested restricted stock or performance stock units, unless the impact is antidilutive. The number of incremental shares is calculated by assuming that outstanding stock options were exercised and unvested restricted shares and performance stock units were vested, and the proceeds from such exercises or vesting were used to acquire shares of common stock at the average market price during the reporting period. Basic and dilutive computations of net loss per share are the same in periods in which a net loss exists as the dilutive effects of excluded items would be anti-dilutive. For the three and nine months ended September 30, 2023 outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 2,027 shares and 2,048 shares, respectively, were excluded from the computation of diluted earnings per share as their inclusion would have been anti-dilutive. For the nine months ended September 30, 2022 outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 1,734 shares, were excluded from the computation of diluted loss per share as their inclusion would have been

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Reconciliation of the changes in stockholder's equity for the three and nine months ended September 30, 2023 and 2022 (in thousands): Common Stock Additional Accumulated Accumulated Total Shares Amount Balance at December 31, 2022 72,734 $ — $ 520,446 $ (18,435) $ (137,586) $ 364,425 Common stock issued upon exercise of options 12 — 66 — — 66 Vesting of restricted stock and performance stock units 737 — — — — — Purchase and retirement of common shares (229) — (1,203) — — (1,203) Stock-based compensation — — 2,655 — — 2,655 Net income — — — — 27,219 27,219 Currency translation adjustments — — — 797 — 797 Unrealized gain on marketable securities — — — 220 — 220 Balance at March 31, 2023 73,254 $ — $ 521,964 $ (17,418) $ (110,367) $ 394,179 Vesting of restricted stock and performance stock units 241 — — — — — Purchase and retirement of common shares (82) — (460) — — (460) Stock-based compensation — — 2,357 — — 2,357 Net loss — — — — (4,796) (4,796) Currency translation adjustments — — — 2,859 — 2,859 Balance at June 30, 2023 73,413 $ — $ 523,861 $ (14,559) $ (115,163) $ 394,139 Common stock issued upon exercise of options 2 — 10 — — 10 Vesting of restricted stock and performance stock units 99 — — — — — Purchase and retirement of common shares (31) — (200) — — (200) Stock-based compensation — — 2,590 — — 2,590 Net income — — — — 11,159 11,159 Currency translation adjustments — — — (2,813) — (2,813) Balance at September 30, 2023 73,483 $ — $ 526,261 $ (17,372) $ (104,004) $ 404,885 Common Stock Additional Accumulated Accumulated Total Shares Amount Balance at December 31, 2021 72,069 $ — $ 511,063 $ (10,077) $ (120,453) $ 380,533 Common stock issued upon exercise of options 2 — 15 — — 15 Vesting of restricted stock and performance stock units 352 — — — — — Purchase and retirement of common shares (116) — (1,049) — — (1,049) Stock-based compensation — — 3,524 — — 3,524 Net loss — — — — (19,940) (19,940) Currency translation adjustments — — — 1,756 — 1,756 Unrealized gain on marketable securities — — — 74 — 74 Balance at March 31, 2022 72,307 $ — $ 513,553 $ (8,247) $ (140,393) $ 364,913 Vesting of restricted stock and performance stock units 407 — — — — — Purchase and retirement of common shares (142) — (905) — — (905) Stock-based compensation — — 3,280 — — 3,280 Net loss — — — — (18,589) (18,589) Currency translation adjustments — — — (4,349) — (4,349) Unrealized gain on marketable securities — — — 82 — 82 Balance at June 30, 2022 72,572 $ — $ 515,928 $ (12,514) $ (158,982) $ 344,432 Vesting of restricted stock and performance stock units 66 — — — — — Purchase and retirement of common shares (19) — (54) — — (54) Stock-based compensation — — 2,296 — — 2,296 Net income — — — — 5,595 5,595 Currency translation adjustments — — — (9,828) — (9,828) Unrealized gain on marketable securities — — — 11 — 11 Balance at September 30, 2022 72,619 $ — $ 518,170 $ (22,331) $ (153,387) $ 342,452

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segments	Business SegmentsThe Company is organized on the basis of products and services under a new organizational structure. All products and services reside under the same reporting hierarchy. Historically there was separate management leading the Company's Diagnostics and Molecular Solutions businesses. In February 2023, the Company announced a corporate restructuring to combine the commercial and innovation teams across the Diagnostics and Molecular Solutions segments into one operating segment with sales, marketing, product development and research teams covering all product lines and reporting to a Chief Product Officer. Resources are allocated and performance is assessed on a consolidated basis by the Company's Chief Executive Officer, whom the Company has determined to be its Chief Operating Decision Maker ("CODM"). The CODM reviews the business based on individual product success. Therefore, the Company's historical reportable segments, Diagnostics and Molecular Solutions are now considered one reportable segment and there will no longer be a distinction between Diagnostics and Molecular Solutions, only the Company holistically.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company is involved in certain legal actions arising in the ordinary course of business. In management’s opinion, the outcomes of such actions, either individually or in the aggregate, are not expected to have a material adverse effect on the Company's future financial position or results of operations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation . The accompanying interim unaudited consolidated financial statements include the accounts of OraSure Technologies, Inc. (“OraSure”) and its wholly-owned subsidiaries, DNA Genotek Inc. (“DNAG”), Diversigen, Inc. (“Diversigen”), and Novosanis NV (“Novosanis”). All intercompany transactions and balances have been eliminated. References herein to “we,” “us,” “our,” or the “Company” mean OraSure and its consolidated subsidiaries, unless otherwise indicated. The unaudited financial statements, in the opinion of management, include all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of the Company's financial position and results of operations for these interim periods. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results of operations expected for the full year. Summary of Significant Accounting Policies .
Investments	Investments . The Company considers all investments in debt securities to be available-for-sale securities. These securities consist of guaranteed investment certificates and corporate bonds purchased with maturities greater than ninety days. Securities with maturities ninety days or less are considered cash equivalents. Available-for-sale securities are carried at fair value, based upon quoted market prices, with unrealized gains and losses, if any, reported in stockholders’ equity as a component of accumulated other comprehensive loss.
Fair Value of Financial Instruments	Fair Value of Financial Instruments . As of September 30, 2023 and December 31, 2022, the carrying values of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their respective fair values based on their short-term nature. Fair value measurements of all financial assets and liabilities that are being measured and reported on a fair value basis are required to be classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). All of the Company's available-for-sale corporate bonds are measured as Level 2 instruments and the Company's available-for-sale guaranteed investment certificates are measured as Level 1 instruments as of September 30, 2023 and December 31, 2022. Included in cash and cash equivalents at September 30, 2023 and December 31, 2022 was $37.1 million and $1.7 million, respectively, invested in money market funds. These money market funds have investments in government securities and are measured as Level 1 instruments. Included in cash and cash equivalents at September 30, 2023 was $14.7 million of guaranteed investment certificates which are also measured as Level 1 instruments. The Company offers a nonqualified deferred compensation plan for certain eligible employees and members of its Board of Directors. The assets of the plan are held in the name of the Company at a third-party financial institution. Separate accounts are maintained for each participant to reflect the amounts deferred by the participant and all earnings and losses on those deferred amounts. The assets of the plan are held in mutual funds and company stock. The fair value of the plan assets as of September 30, 2023 and December 31, 2022 was $0.6 million and $0.7 million, respectively, and was calculated using the quoted market prices of the assets as of those dates. All investments in the plan are classified as trading securities and measured as Level 1 instruments. The fair value of plan assets is included in both current assets and noncurrent assets with the same amount included in accrued expenses and other noncurrent liabilities in the accompanying consolidated balance sheets.
Foreign Currency Translation	Foreign Currency Translation. Net foreign exchange gains and (losses) resulting from foreign currency transactions that are included in other income in the Company's consolidated statements of operations
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets . Long-lived assets, which include property, plant and equipment and definite-lived intangible assets, are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company assesses the recoverability of the Company's long-lived assets by determining whether the carrying value of such assets can be recovered through the sum of the undiscounted future cash flows expected to be generated from the use and eventual disposition of the asset. If indicators of impairment exist, the Company measures the amount of such impairment by comparing the carrying value of the assets to the fair value of these assets, which is generally determined based on the present value of the expected future cash flows associated with the use of the assets. Expected future cash flows reflect the Company's assumptions about selling prices, volumes, costs and market conditions over a reasonable period of time. The Company identified a triggering event to test for the recoverability of intangible assets in the third quarter given the decline in the Company's market capitalization leading up to and as of its annual goodwill impairment testing date. The Company performed an undiscounted cash flow analysis and determined the carrying value of the developed technology, trade names, and customer relationships intangible assets could not be recovered through the sum of the undiscounted future cash flows. The Company used an income approach to determine the fair value of the developed technology and customer relationship intangible assets and the relief from royalty method for the trade names. For the three months ended September 30, 2023, the Company determined the developed technology, trade names, and customer relationships intangible assets associated with Diversigen and Novosanis were impaired as the fair value of the intangible assets did not exceed their carrying value. A full impairment loss of $6.2 million is recorded on the consolidated statement of operations for the three months ended September 30, 2023.
Impairment of Goodwill	Impairment of Goodwill . During the second quarter of 2022, we determined that a triggering event occurred in relation to the depressed market price of the Company's common stock and corresponding significant decline in our market capitalization. As a result, we performed an interim goodwill impairment test and concluded that the carrying value of our Diagnostics reporting unit exceeded its estimated fair value and the goodwill balance for that segment was fully impaired. Thus, we recognized a pre-tax impairment charge of $3.6 million during the three months ended June 30, 2022, which is reported in loss on impairments in our condensed consolidated statement of operations.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss . Changes in accumulated other comprehensive loss by component is listed below (in thousands): Foreign Currency Marketable Securities Total Balance at December 31, 2022 $ (18,215) $ (220) $ (18,435) Other comprehensive gain 843 220 1,063 Balance at September 30, 2023 $ (17,372) $ — $ (17,372)
Immaterial Correction of Errors and Reclassification	Immaterial Correction of Errors. Inventories, accounts payable and cost of products and services were reduced by $0.5 million, $1.3 million and $0.8 million, respectively, as of and for the year ended December 31, 2022 to correct for the accounting of a vendor rebate earned in 2022. The tax impact of the vendor rebate was negligible. This correction was deemed to be immaterial to the consolidated financial statements as of and for the year ended December 31, 2022. For the three and nine months ended September 30, 2022, cost of products and services sold was reduced by $0.3 million and $0.6 million, respectively. The respective operating activities on the consolidated statement of cash flows for the nine months ended September 30, 2022 has also been adjusted. Furthermore, stockholder's equity at September 30, 2022 has been adjusted to reflect the reduction in cost of products and services sold. Reclassification . Certain prior period amounts have been reclassified to conform to current year presentations. For the three and nine months ended September 30, 2022, $0.3 million and $0.9 million of research and development expenses were reclassified to other income in relation to the U.S. Department of Defense (the “DOD”) engineering consulting costs further described in Note 2. This reclassification was made to conform to the presentation in the Company's Annual Report on Form 10-K for the year ended December 31, 2022.
Customer and Vendor Concentrations	Customer and Vendor Concentrations . At September 30, 2023, one non-commercial customer accounted for 52% of the Company's consolidated accounts receivable. The same non-commercial customer accounted for 57% of the Company's consolidated accounts receivable as of December 31, 2022. The same non-commercial customer also accounted for 56% and 69% of net consolidated revenues for the three months ended September 30, 2023 and 2022, respectively. The same non-commercial customer also accounted for 66% and 53% of net consolidated revenues for the nine months ended September 30, 2023 and 2022, respectively.
Deferred Revenue	Deferred Revenue . The Company records deferred revenue when funds are received prior to the recognition of the associated revenue. Deferred revenue as of September 30, 2023 and December 31, 2022 included customer prepayments of $1.4 million and $1.5 million, respectively. Deferred revenue as of September 30, 2023 and December 31, 2022 also included $0.4 million and $0.7 million, respectively, associated with a long-term contract that has variable pricing based on volume. The average price over the life of the contract was determined and revenue is recognized at that average price.
Change in Accounting Estimate	Change in Accounting Estimate. During the three months ended June 30, 2023, the Company shortened the useful lives of machinery and equipment utilized for InteliSwab® production in Thailand. This reduction in useful lives resulted in $6.9 million of accelerated depreciation during the three months ended June 30, 2023, recorded in cost of products and services sold.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Available-for-sale Securities	The following is a summary of the Company's available-for-sale securities (in thousands): Amortized Gross Gross Fair Value September 30, 2023 Guaranteed investment certificates $ 7,358 $ — $ — $ 7,358 Corporate bonds — — — — Total $ 7,358 $ — $ — $ 7,358 December 31, 2022 Guaranteed investment certificates $ 22,109 $ — $ — $ 22,109 Corporate bonds 4,978 — (220) 4,758 Total $ 27,087 $ — $ (220) $ 26,867 At September 30, 2023, maturities of the Company's available-for-sale securities were as follows: Less than one year $ 7,358 $ — $ — $ 7,358 Greater than one year $ — $ — $ — $ —
Summary of Changes in Accumulated Other Comprehensive Loss by Component	Changes in accumulated other comprehensive loss by component is listed below (in thousands): Foreign Currency Marketable Securities Total Balance at December 31, 2022 $ (18,215) $ (220) $ (18,435) Other comprehensive gain 843 220 1,063 Balance at September 30, 2023 $ (17,372) $ — $ (17,372)

Government Capital Contracts (T

Government Capital Contracts (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Government Contracts Balances Included in Consolidated Balance Sheet	The balances corresponding to government contracts included in the Company's consolidated balance sheet are as follows (in thousands): September 30, December 31, 2023 2022 Other current assets: Billed receivables $ 4,365 $ — Unbilled receivables 5,956 27,013 Total other current assets 10,321 27,013 Accrued expenses and other current liabilities $ — $ (318)
Summary of Government Contracts Balances Included in Consolidated Statements of Cash flows	The activity corresponding to the government contracts included in the Company's consolidated statements of cash flows is as follows (in thousands): September 30, December 31, 2023 2022 Cost of assets, cumulative $ 86,993 $ 83,359 Reduction for funding earned to date, not yet received (1,841) (22,497) Reduction for funding received to date (85,152) (60,862) Total property, plant and equipment, net $ — $ —

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	September 30, December 31, 2023 2022 Raw materials $ 26,115 $ 42,445 Work in process 2,459 2,335 Finished goods 30,690 50,924 $ 59,264 $ 95,704

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	September 30, December 31, 2023 2022 Land $ 1,118 $ 1,118 Buildings and improvements 35,714 35,582 Machinery and equipment 65,371 60,725 Computer equipment and software 17,352 16,681 Furniture and fixtures 4,079 4,064 Construction in progress 8,561 11,124 132,195 129,294 Accumulated depreciation (84,168) (69,881) $ 48,027 $ 59,413

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	September 30, December 31, 2023 2022 Payroll and related benefits $ 12,213 $ 14,103 Professional fees 2,730 4,685 Sales tax payable 1,344 1,519 Other 4,853 5,455 $ 21,140 $ 25,762

Termination Benefits (Tables)

Termination Benefits (Tables)	9 Months Ended
	Sep. 30, 2023
Termination Benefits [Abstract]
Summary of One-Time Termination Benefits	The expense included in the Company's consolidated statements of operations are as follows (in thousands): Nine Months Ended Cost of products and services sold $ 369 Research and development 566 Sales and marketing 1,543 General and administrative 787 Total $ 3,265

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue by Product and Geographic Area	Revenues by product line . The following table represents total net revenues by product line (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 COVID-19 (1) $ 50,199 $ 79,920 $ 216,115 $ 154,331 HIV 16,650 9,054 46,518 27,577 Molecular Products (2) 15,238 15,829 41,230 51,344 HCV 2,901 3,234 9,957 10,182 Risk assessment testing 2,554 2,595 7,540 7,786 Molecular Services 834 1,957 3,567 4,895 Other product and service revenues 638 232 1,739 1,109 Net product and services revenues 89,014 112,821 326,666 257,224 Non-product and services revenues (3) 173 3,642 2,925 7,177 Net revenues $ 89,187 $ 116,463 $ 329,591 $ 264,401 (1) Includes COVID-19 Diagnostics and COVID-19 Molecular Products. (2) Includes Genomics, Microbiome and Novosanis product revenues. (3) Non-product and services revenues include funded research and development contracts, royalty income and grant revenues. Revenues by geographic area . The following table represents total net revenues by geographic area, based on the location of the customer (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 77,925 $ 108,941 $ 296,815 $ 237,248 Europe 1,992 2,207 6,297 8,929 Other regions 9,270 5,315 26,479 18,224 $ 89,187 $ 116,463 $ 329,591 $ 264,401

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense (benefits) are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 State income tax expense (benefit) $ 1,131 $ (40) $ 2,388 $ 379 Foreign income tax expense (benefit) 1,216 (1,103) (432) (438) Foreign withholding tax — — — 1,683 $ 2,347 $ (1,143) $ 1,956 $ 1,624

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Summary of Reconciliation of Changes in Stockholder's Equity	Common Stock Additional Accumulated Accumulated Total Shares Amount Balance at December 31, 2022 72,734 $ — $ 520,446 $ (18,435) $ (137,586) $ 364,425 Common stock issued upon exercise of options 12 — 66 — — 66 Vesting of restricted stock and performance stock units 737 — — — — — Purchase and retirement of common shares (229) — (1,203) — — (1,203) Stock-based compensation — — 2,655 — — 2,655 Net income — — — — 27,219 27,219 Currency translation adjustments — — — 797 — 797 Unrealized gain on marketable securities — — — 220 — 220 Balance at March 31, 2023 73,254 $ — $ 521,964 $ (17,418) $ (110,367) $ 394,179 Vesting of restricted stock and performance stock units 241 — — — — — Purchase and retirement of common shares (82) — (460) — — (460) Stock-based compensation — — 2,357 — — 2,357 Net loss — — — — (4,796) (4,796) Currency translation adjustments — — — 2,859 — 2,859 Balance at June 30, 2023 73,413 $ — $ 523,861 $ (14,559) $ (115,163) $ 394,139 Common stock issued upon exercise of options 2 — 10 — — 10 Vesting of restricted stock and performance stock units 99 — — — — — Purchase and retirement of common shares (31) — (200) — — (200) Stock-based compensation — — 2,590 — — 2,590 Net income — — — — 11,159 11,159 Currency translation adjustments — — — (2,813) — (2,813) Balance at September 30, 2023 73,483 $ — $ 526,261 $ (17,372) $ (104,004) $ 404,885 Common Stock Additional Accumulated Accumulated Total Shares Amount Balance at December 31, 2021 72,069 $ — $ 511,063 $ (10,077) $ (120,453) $ 380,533 Common stock issued upon exercise of options 2 — 15 — — 15 Vesting of restricted stock and performance stock units 352 — — — — — Purchase and retirement of common shares (116) — (1,049) — — (1,049) Stock-based compensation — — 3,524 — — 3,524 Net loss — — — — (19,940) (19,940) Currency translation adjustments — — — 1,756 — 1,756 Unrealized gain on marketable securities — — — 74 — 74 Balance at March 31, 2022 72,307 $ — $ 513,553 $ (8,247) $ (140,393) $ 364,913 Vesting of restricted stock and performance stock units 407 — — — — — Purchase and retirement of common shares (142) — (905) — — (905) Stock-based compensation — — 3,280 — — 3,280 Net loss — — — — (18,589) (18,589) Currency translation adjustments — — — (4,349) — (4,349) Unrealized gain on marketable securities — — — 82 — 82 Balance at June 30, 2022 72,572 $ — $ 515,928 $ (12,514) $ (158,982) $ 344,432 Vesting of restricted stock and performance stock units 66 — — — — — Purchase and retirement of common shares (19) — (54) — — (54) Stock-based compensation — — 2,296 — — 2,296 Net income — — — — 5,595 5,595 Currency translation adjustments — — — (9,828) — (9,828) Unrealized gain on marketable securities — — — 11 — 11 Balance at September 30, 2022 72,619 $ — $ 518,170 $ (22,331) $ (153,387) $ 342,452

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Available-for-sale Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 7,358	$ 27,087
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(220)
Fair Value	7,358	26,867
Less than one year, amortized cost	7,358
Less than one year, fair value	7,358
Greater than one year, amortized cost	0
Greater than one year, fair value	0
Guaranteed Investment Certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	7,358	22,109
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	7,358	22,109
Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	0	4,978
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(220)
Fair Value	$ 0	$ 4,758

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash equivalents	$ 217,533,000					$ 217,533,000		$ 83,980,000
Fair value of plan assets	600,000					600,000		700,000
Net foreign exchange gains (losses)	(100,000)			$ 2,300,000		(700,000)	$ 2,400,000
Loss on impairments	6,183,000			6,559,000		7,503,000	17,101,000
PPE impairment	0
Goodwill impairment loss					$ 3,600,000
Reduced inventories			$ 500,000			36,425,000	(26,240,000)
Reduced accounts payable			1,300,000			25,122,000	(15,315,000)
Reduced cost of products and services sold			$ 800,000	300,000			600,000
Cost of goods sold	44,847,000			69,949,000		193,065,000	165,791,000
Service Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of goods sold		$ 6,900,000
Research and Development Expenses and Other Income | Government Contract
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reimbursement of engineering cost	400,000			$ 300,000		2,000,000	$ 900,000
Money Market Fund | Level I Instruments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash equivalents	37,100,000					37,100,000		$ 1,700,000
Guaranteed Investment Certificates | Level I Instruments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash equivalents	$ 14,700,000					$ 14,700,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 364,425
Other comprehensive gain	1,063
Ending Balance	404,885
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(18,435)
Ending Balance	(17,372)
Foreign Currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(18,215)
Other comprehensive gain	843
Ending Balance	(17,372)
Marketable Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(220)
Other comprehensive gain	220
Ending Balance	$ 0

Government Capital Contracts -

Government Capital Contracts - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		21 Months Ended
	Oct. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Government capital contracts funding amount							$ 109,000
Percentage withheld under government contracts subject to validation testing		15%		15%		15%
Proceeds from funding under government contract				$ 24,290	$ 37,756	$ 84,600
Net revenues		$ 89,187	$ 116,463	329,591	264,401
Subsequent Event
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Remaining expected funding under government grant	$ 24,400
Research and Development Expenses and Other Income | Government Contract
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reimbursement of engineering cost		400	300	2,000	900
Other | Government Contract
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Net revenues		$ 600	$ 600	$ 1,700	$ 1,700

Government Capital Contracts _2

Government Capital Contracts - Summary of Government Contracts Balances Included in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other current assets:
Total other current assets	$ 12,484	$ 41,569
Accrued expenses and other current liabilities	21,140	25,762
Government Contract
Other current assets:
Billed receivables	4,365	0
Unbilled receivables	5,956	27,013
Total other current assets	10,321	27,013
Accrued expenses and other current liabilities	$ 0	$ (318)

Government Capital Contracts _3

Government Capital Contracts - Summary of Government Contracts Balances Included in Consolidated Statements of Cash flows (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cost of assets, cumulative	$ 132,195	$ 129,294
Total property, plant and equipment, net	48,027	59,413
Government Contract
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cost of assets, cumulative	86,993	83,359
Reduction for funding earned to date, not yet received	(1,841)	(22,497)
Reduction for funding received to date	(85,152)	(60,862)
Total property, plant and equipment, net	$ 0	$ 0

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 26,115	$ 42,445
Work in process	2,459	2,335
Finished goods	30,690	50,924
Inventories	$ 59,264	$ 95,704

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property plant and equipment Gross	$ 132,195	$ 129,294
Accumulated depreciation	(84,168)	(69,881)
Total property, plant and equipment, net	48,027	59,413
Land
Property, Plant and Equipment [Line Items]
Property plant and equipment Gross	1,118	1,118
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment Gross	35,714	35,582
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment Gross	65,371	60,725
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property plant and equipment Gross	17,352	16,681
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property plant and equipment Gross	4,079	4,064
Construction in progress
Property, Plant and Equipment [Line Items]
Property plant and equipment Gross	$ 8,561	$ 11,124

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Loss on impairments	$ 6,183	$ 6,559	$ 7,503	$ 17,101
Estimated fair value on manufacturing equipment and various market data points	0		0
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Loss on impairments	$ 0		$ 1,300
Machinery and equipment
Property, Plant and Equipment [Line Items]
Loss on impairments		$ 6,600		$ 13,500

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Payroll and related benefits	$ 12,213	$ 14,103
Professional fees	2,730	4,685
Sales tax payable	1,344	1,519
Other	4,853	5,455
Accrued expenses and other current liabilities	$ 21,140	$ 25,762

Termination Benefits - Addition

Termination Benefits - Additional Information (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Termination Benefits [Abstract]
Accrued reduction in workforce	$ 900
Payment of reduction in workforce	$ 2,400

Termination Benefits - Summary

Termination Benefits - Summary of One-Time Termination Benefits (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Termination Benefits [Line Items]
Termination benefits	$ 0
One-time Termination Benefits
Termination Benefits [Line Items]
Termination benefits		$ 3,265
One-time Termination Benefits | Cost of products and services sold
Termination Benefits [Line Items]
Termination benefits		369
One-time Termination Benefits | Research and development
Termination Benefits [Line Items]
Termination benefits		566
One-time Termination Benefits | Sales and marketing
Termination Benefits [Line Items]
Termination benefits		1,543
One-time Termination Benefits | General and administrative
Termination Benefits [Line Items]
Termination benefits		$ 787

Revenues - Summary of Total Net

Revenues - Summary of Total Net Revenues by Product Line (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation Of Revenue [Line Items]
Net revenues	$ 89,187	$ 116,463	$ 329,591	$ 264,401
Product and Services Revenues
Disaggregation Of Revenue [Line Items]
Net revenues	89,014	112,821	326,666	257,224
Product and Services Revenues | COVID-19
Disaggregation Of Revenue [Line Items]
Net revenues	50,199	79,920	216,115	154,331
Product and Services Revenues | HIV
Disaggregation Of Revenue [Line Items]
Net revenues	16,650	9,054	46,518	27,577
Product and Services Revenues | Molecular Products
Disaggregation Of Revenue [Line Items]
Net revenues	15,238	15,829	41,230	51,344
Product and Services Revenues | HCV
Disaggregation Of Revenue [Line Items]
Net revenues	2,901	3,234	9,957	10,182
Product and Services Revenues | Risk assessment testing
Disaggregation Of Revenue [Line Items]
Net revenues	2,554	2,595	7,540	7,786
Product and Services Revenues | Molecular Services
Disaggregation Of Revenue [Line Items]
Net revenues	834	1,957	3,567	4,895
Product and Services Revenues | Other product and service revenues
Disaggregation Of Revenue [Line Items]
Net revenues	638	232	1,739	1,109
Other | Other Non Product Revenues
Disaggregation Of Revenue [Line Items]
Net revenues	$ 173	$ 3,642	$ 2,925	$ 7,177

Revenues - Summary of Total N_2

Revenues - Summary of Total Net Revenues by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation Of Revenue [Line Items]
Net revenues	$ 89,187	$ 116,463	$ 329,591	$ 264,401
United States
Disaggregation Of Revenue [Line Items]
Net revenues	77,925	108,941	296,815	237,248
Europe
Disaggregation Of Revenue [Line Items]
Net revenues	1,992	2,207	6,297	8,929
Other regions
Disaggregation Of Revenue [Line Items]
Net revenues	$ 9,270	$ 5,315	$ 26,479	$ 18,224

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue from contract with customer [Line Items]
Deferred revenue	$ 1,824		$ 1,824		$ 2,273
Up-Front Payment
Revenue from contract with customer [Line Items]
Deferred revenue	1,400		1,400		1,500
Long-term Contract
Revenue from contract with customer [Line Items]
Deferred revenue	$ 400		$ 400		$ 700
Customer One | Accounts Receivable | Customer Concentration Risk
Revenue from contract with customer [Line Items]
Percentage of concentration risk			52%		57%
Customer One | Net Consolidated Revenue | Customer Concentration Risk
Revenue from contract with customer [Line Items]
Percentage of concentration risk	56%	69%	66%	53%

Income Taxes - Summary Of Incom

Income Taxes - Summary Of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
State income tax expense (benefit)	$ 1,131	$ (40)	$ 2,388	$ 379
Foreign income tax expense (benefit)	1,216	(1,103)	(432)	(438)
Foreign withholding tax	0	0	0	1,683
Income tax expense (benefit)	$ 2,347	$ (1,143)	$ 1,956	$ 1,624

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Foreign withholding tax	$ 0	$ 0	$ 0	$ 1,683
Foreign earnings repatriated				$ 65,000

Income (Loss) Per Share - Addit

Income (Loss) Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Common Stock Options Unvested Restricted Stock and Unvested Performance Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Number of anti-dilutive securities excluded from EPS computation	2,027	1,734	2,048	383

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Reconciliation of Changes in Stockholders' Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 394,139	$ 394,179	$ 364,425	$ 344,432	$ 364,913	$ 380,533	$ 364,425	$ 380,533
Common stock issued upon exercise of options	10		66		0	15
Purchase and retirement of common shares	(200)	(460)	(1,203)	(54)	(905)	(1,049)
Stock-based compensation	2,590	2,357	2,655	2,296	3,280	3,524
Net income	11,159	(4,796)	27,219	5,595	(18,589)	(19,940)	33,582	(32,934)
Currency translation adjustments	(2,813)	2,859	797	(9,828)	(4,349)	1,756	843	(12,421)
Unrealized gain on marketable securities	0		220	11	82	74	220	167
Ending Balance	$ 404,885	$ 394,139	$ 394,179	$ 342,452	$ 344,432	$ 364,913	$ 404,885	$ 342,452
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	73,413	73,254	72,734	72,572	72,307	72,069	72,734	72,069
Common stock issued upon exercise of options (in shares)	2		12		407	2
Vesting of restricted stock and performance stock units (in shares)	99	241	737	66		352
Purchase and retirement of common shares (in shares)	(31)	(82)	(229)	(19)	(142)	(116)
Ending balance (in shares)	73,483	73,413	73,254	72,619	72,572	72,307	73,483	72,619
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 523,861	$ 521,964	$ 520,446	$ 515,928	$ 513,553	$ 511,063	$ 520,446	$ 511,063
Common stock issued upon exercise of options	10		66			15
Purchase and retirement of common shares	(200)	(460)	(1,203)	(54)	(905)	(1,049)
Stock-based compensation	2,590	2,357	2,655	2,296	3,280	3,524
Ending Balance	526,261	523,861	521,964	518,170	515,928	513,553	526,261	518,170
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(14,559)	(17,418)	(18,435)	(12,514)	(8,247)	(10,077)	(18,435)	(10,077)
Currency translation adjustments		2,859	797	(9,828)	(4,349)	1,756
Unrealized gain on marketable securities			220	11	82	74
Ending Balance	(17,372)	(14,559)	(17,418)	(22,331)	(12,514)	(8,247)	(17,372)	(22,331)
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(115,163)	(110,367)	(137,586)	(158,982)	(140,393)	(120,453)	(137,586)	(120,453)
Net income			27,219	5,595	(18,589)	(19,940)
Ending Balance	$ (104,004)	$ (115,163)	$ (110,367)	$ (153,387)	$ (158,982)	$ (140,393)	$ (104,004)	$ (153,387)

Business Segments - Additional

Business Segments - Additional Information (Detail) - segment	1 Months Ended	9 Months Ended
	Feb. 28, 2023	Sep. 30, 2023
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments		1