OSUR - Earnings call transcript Q4 2024 | OraSure Technologies, Inc.

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Jason Plagman

Good afternoon, and welcome to OraSure Technologies Fourth Quarter 2024 Earnings Call. Participating in the call today for OTI are Carrie Eglinton Manner, our President and Chief Executive Officer; and Ken McGrath, our Chief Financial Officer.

As a reminder, today's webcast is being recorded, and the recording can be found on our Investor Relations website.

Before we begin, you should know that this call may contain certain forward-looking statements, including statements with respect to revenues, expenses, profitability, earnings or loss per share and other financial performance, product development, performance, shipments and markets, business plans, regulatory filings and approvals, expectations and strategies. Actual results could be significantly different.Â Factors that could affect results are discussed more fully in OTI's SEC filings, its annual report on Form 10-K for the year ended December 31, 2023, its quarterly reports on Form 10-Q, and its other SEC filings.

to to keep complete statements in solely information help prospects, about are statements today. on should of listeners mind available forward-looking provide information more future based Although as management that forward-looking OTI undertakes forward-looking reflect or events update after call. statements this to circumstances obligation no to any turn am to call Carrie. that, I the With pleased to over

Carrie Eglinton Manner

Jason, and today. us thank Thanks, you joining to everyone for

December, one, a is our strengthening the priorities an Today, making for to foundation; accelerating fourth guidance revenue are provide and update range our on few strategic progress the three, revenue XXXX. of pleased our during we and include: transformation: in developments QX the for on I'll elevating delivered total disposable notable FDA OraSure our chlamydia diagnostics gonorrhea our X be the XXXX Sherlock two, XX% highlights strong grew acquired Biosciences and core pillars from We in the quarter discuss that OTI sensitivity growth; growth. core QX of A half which our was is and few that profitable platform of top expand to rapid addition CTNG to format usage.Â Sherlock's specificity expected year-over-year. in results for revenue, provide suited with expected is is studies with for by the and the clinical and pipeline end submitted or review. a self-test molecular In to that a to well innovation first is for over-the-counter of molecular

years Marburg an self-test. approved using million approximately million, lateral qualitative base The value for U.S. age for single-use access approved the a for years Rapid in within intended age period the HIV OraQuick with self-test the flow increase the through HIV our in over for to a expands Next, FDA the on flow to potential to the sheet, genius.Â During win. the development disease do of core cash achieve work in received the The initial operating immunoassay individuals to the valued partnership older well OraQuick clearance operations balance and award test external We XXX(k) antigens and at We we include and rapid continued and our of Overall, $X.X the secured environment. adolescents. award for from we from that contract FDA development test. use a HIV XX QX, the future. range funds up labeling generated business, to monitor progress vehicle in to today, of virus we Previously, detection for Marburg virus December antigen In Response of savings change we approval positioned viruses testing XX will positive strong a November, older. those compete with was multiple required our are cost closely efficiency the initiatives. and are healthy demonstrating we for the change $XX

appealing from we at OTI's the QX, strong and across record a workflows infections. our have surpassing success tests continue our lab in grew HCV into XX% also Solutions of grew comprehensive to health provide across multiproduct simplicity all continue for X continue midpoint Sample journey Diving all directors for of as to X% XXXX did the and business.Â QX given in year-over-year Solutions. Diagnostics portfolio business revenue leverage sustainable, revenue road in XX%, bolster of in $XX.X and the Within international a our across OTI's see other overlap Diagnostics significant delivered QX public year in was Management albeit offerings strengths, and basis, risk revenue testing, of organizations of on that these customers.Â Our invest our million patients existing to revenue increased segments. Syphilis rapid prior the rapid our recognize and HIV, as on that core above the Diagnostics of clinicians, range. of delivering the accelerated and XXXX.Â Shifting a our high and for The XXXX core performance to profitable, map opportunities of a care guidance we it makes Revenue to prior providers approach tests our Management sequentially each systemic business, growth, basis. need variable which to as our quarters portfolio, customer with health set grew Sample toward We innovation year-over-year we was signs sales in in which commonality growth.

clearly in Here closely will is segments. reiterate, monitoring in that I uncertainty elevated are our XXXX, posing the market environment we

testing U.S. disease partners foreign programs, uncertainty freezes testing programs on aid for caused January orders our infectious for such in announced as in developing for of funding that countries. treatment coordinate HIV administrative have significant For help and several

public in numerous the OTI private malaria Global the donors is with tuberculosis of that multilateral a and programs countries, of believe in of And type revenue and XX% international countries. some we funding.Â Worldwide, works is including treatment sponsor donor Fund, is that partnership are HIV, OTI, by to largest and business million $XX testing the associated programs developing amount international across that For supported XXXX. by approximately supported defeat programs Diagnostics of the HIV with both that generated

of by We a low the also receive revenue. government. single In directly also diagnostics business that Emergency programs PEPFAR, of or teens that by supported funded our support is PEPFAR is AIDS XXXX, as digits portion from the core known international President's Plan for the a with of our in programs U.S. which revenue as represented percentage Relief, work low

that these low been many review associated testing developing the life-saving cases. by waiver some NIH-related of the on organizations federal that to situations work, NIH countries granted National to performing a operational groups was to translates the in Institutes that Research of the academic and is procure continue OTI, by the business revenue initial their the as for plans funding changes fluid potential sample reduce represented on than understand been XXXX. management also projects. the are research impact grant, SMS by XXXX and some estimate impacted our NIH, programs both segment changing month, million approximately this its supported research and foreign are and indirect countries announced for some mechanisms reductions Health, less this and budgets.Â Separately, of our We treatment that dynamics solutions.Â Specifically, work core to PEPFAR revenue freeze cover utilize Following earlier the implement aid, or of and has but creating uncertainty of operations in disrupted activities have amount in NIH-funded our in including research digits in single Clearly, judicial with Academic U.S. $XX research of costs.Â For that XX% and type funding government of to

opportunity for we in States plays visibility we Investments we that competitiveness for by United supported the of strong positioning and them While support wanted our held public near-term share role leadership today a by the science external our innovation country reference OTI.Â Despite way.Â Overall, and is and factors we now, as not confident long-term provide do full evolving growth. improving closely in in monitor many. view right to remain frame these uncertainty, external as have along the a work health, our we key

business, health base progress strategically our and relationships in with across deepened in SMS clinical and animal demonstrated like with programs ones biotech we've fields expanding diagnostics and new examples. years, customer few diversifying In our last in genetic and as and the product portfolio. pharma and such existing key added assessment companies oncology few we've risk segments the Over as innovators emerging in for research a

quarters, of with portfolios launches we wherever over innovative OTI, urine they blood As Diagnostics pandemic self-collection blood active other testing private able work They accessible including provides flexibility the we the samples toward be easy-to-use analytes our through the care want expand infectious and home COVID-XX access connect delivery. help and for general disease the channels, are. working a providers with tests in to proteomics, population. the described management self-collected and business, applications we're into privacy. our ones people variety quality last over-the-counter make In health at public Saphros. Â Across available and offerings through high-quality to rapid, insights the OTI the want demonstrated to point like need to of types, and of sample health, with diagnostic important product Patients value and care few of that sample for

welcoming on them in portfolio the accelerate to is team priorities.Â From and organizations focus and to of start an a products to existed to our drivers Sherlock in aligns following to in we DTNG which the is advance unmet expertise We OTI opportunity OTI's for we for provide to end customers. Â Switching addressable team have expanded and and Biosciences and expansion. affordability.Â We through with the opportunities future of launch that test, a Sherlock's improve newly that developing represents credibility serve longevity expanding innovative been been diagnostic portfolio Sherlock the in portfolio significant its diagnostic health Sherlock's assay. to need of in infectious innovation OTI's build OTI and will instrument-free serving device a expected novel of bolster our gears our with step and test first these expand year. investing talented approval access tests and day believe The to strength, unique there our well rapid significantly has of We in cycle innovation improved upon large off the We OTC access our new in regulatory working currently can to with our increase life that for working our diagnostics market strategy strength together, in sexual testing and clinical that tests significant acquisition for is believe diseases are leveraging plan trials, planned family both great our care. as in the which growth. one, another submit clearing has by further December

expertise breakthrough assay now diagnostic development pre-analytical testing. the we forward, rapid expect and that widened innovation point-of- in drive prep potential capabilities of has Looking need combination our our the sample to

in on beyond, Additionally, detail our discussion gains to into leveraging including we will advancing deliver our production enterprise-wide his further expected and of activities demonstrably is our financial productivity focus automation, Ken? facility Ken Pennsylvania agenda, consolidating in-sourcing our improvement and results continuous efficiency XXXX and certain are of which in Center guidance. footprint Excellence.Â Our Bethlehem, also

Kenneth McGrath

of previewed of Management contributed we quarter. which COVID-XX the $XX.X in services happy updates on the was I'm million revenue Core quarter, Total revenue, diagnostic million XX% year-over-year, last X% grew our $X testing risk million exit fourth driven $XX.X exiting exited was to our business international we QX. Â As for XX% last million the in assessment on that in that from risk Sample we provide business business products discuss in the are $XX.X Within Carrie. revenue strong basis. attractive QX our was was and million. with testing revenue products $XX.X opportunities. to of expectations. QX and molecular by outlook. million and consistent in discussed our a COVID-XX core quarter segments decided quarter, financial results and trends and increased fourth in business Revenue offer our the order in Thanks, year-over-year. quarter year-over-year as generated was excludes to products we that focus our resources increased we XXXX revenue, $X.X HIV assessment revenue growth order on our fourth which

this and that process extend continue of to During exiting related determined would our to made of we to the of remaining beneficial operations and XXXX. Â Shifting first our down support progress QX, winding inventory we the through customers business, half significant margins. it our in be the

the quarter of quarter as mix in expenses gross higher-than-expected assessment risk was and were to GAAP business the below do our to XX.X% fourth to million million. in recur. discontinuing business. inventory to not well margin expect the as primarily related margins scrap Our was risk which $XX $X the testing was due reserve lower-than-expected a which expense we raw materials, gross operating GAAP expectations, in Non-GAAP gross XX.X%, includes related margin the slightly assessment

stock we expenses to transaction of and QX, expense compensation million of $XXX,XXX expense, $X million $X.X had Sherlock acquisition. for During noncash severance the related

period total Our QX We in $XXX quarter and was to with same the balance our GAAP zero of was sheet. million. debt non-GAAP our operating the million, $X.X and $XX.X fourth and operating cash cash ended million. Â Moving loss equivalents loss for

business During and that flow was performance to $X by million of slightly core Sherlock in driven positive, QX, in guidance. we generated deployed cash December. Â Turning the acquisition our operating solid we through

to $XX.X We first of are quarter guiding million revenue total $XX.X million. to

expected million of quarter. $XX million adjusting factors our in and $X.X our is in basis is to range COVID-XX as business.Â Revenue in HIV to of decisions exit from academic the this regarding budgets range includes after be and $XX of QX associated we large as million a range assessment in approximately of the a testing We programs on impact from expect consumer a approximately toward molecular from core as guidance risk core U.S. service products patterns risk elevated revenue to well year-over-year work scenarios research uncertainty for million, genomics testing.Â Â The be QX testing $X the expected wider industry. assessment The midpoint to and that our the and revenue exit revenue first for business ordering customer with guidance variety flat

ramp realization XXXX, the driven consolidate we've to of production in in-source operating footprint, QX growth activities.Â Â Examples and the We and to percentage leverage efficiencies to volumes throughout our expand from then benefit incremental manufacturing; in we ongoing our XXs and certain projects low portfolio; expect gross and less significantly smaller initiatives by contract in-sourcing packaging whose of facility automation, from lower our our critical reagents, third, be further completed margin in fourth, rest manufacturing, COVID-XX and include: costs. plastic the of translated reducing up automated XXXX to will of HIV first, costs; which real-to-real in new of product with second, in-sourcing shipping

XXXX, Sherlock. million we for our margin.Â Â Moving In As innovation, reported from full the gross includes of in which operating of $XX call low the to we year that, of $X to operating to target back XX% to million investments $XX in conclude. the million XXXX adjusted gross $X related result, million range to I'll margin core the a plus we QX, Carrie With XX.X% expenses. expect in expect increase to turn investments expenses towards

Carrie Eglinton Manner

Thanks, Ken.

in strategic As meaningful transformation we've in our made XXXX. discussed, we've progress

a even uncertainty, that strong We built future, proof well-positioned today, for in XXXX. we in one is additional of points work light that have plan deliver done the the external and foundation to

positive delivered XX% very revenue in of business Diagnostics operations core during delivering after grew Core Our cash and growth QX. from X% year-over-year QX XXXX. flow strong

as the that continue to most XXXX which assay with growth and sample and multiple innovation proteomics and December, in blood in including diagnostics will development versatile focus allow we Diagnostics We to cost growth to us revenue XXXX.Â Â Overall, strong position that opportunities in in molecular streamline profitable our of growth significantly and CTNG partnerships solutions.Â Â We Sherlock through in rapid advanced in a our that strengths core contribute management molecular and operating we in R&D Direct enter launching rapid investments including align the pathways, expect for early initial incremental development, testing are Colli-Pee, is with a attractive to believe our space diagnostics for strategic self-test disposable our offer return platform in order its structure resources internal with markets pipeline core expected business. Sapphiros and acquisition OTI in to and product such our footprint the to our

that gradually Our well to rebuilding suited durable attractive, markets end momentum. compete are are differentiated in products

turn are of focused in facing And Brianna? near operating the product profitable customers the and that and term, on shareholders. to With innovation to growth remains the pleased positions making with roadmap execution uncertainty to accountability. drive operator relationships, some create call While we in our long-term and the portfolio, disciplined elevated that, our for confident I'm diversifying our we expand our investing OTI progress strengthening are value over Q&A. for are and customer OTI to

Operator

Johnson Instructions] first from Our Jacob comes of [Operator question Stephens.

Jacob Johnson

and funding point. monitor academic Or date, market comments from maybe low the as is it to summarize exposure maybe uncertainty. this And were same you're global the along it now. are like end some seems global there? there. like the from really characterization? fair seen I to an you there's from fund seen low a if maybe PEPFAR seems keeping X on on the lines, should them, made can appreciate the you this single-digit the starting just kind share single-digit eye academia, we something to that the to you I Carrie, have then PEPFAR impact anything of If Is well? Maybe, right What the you've

Carrie Eglinton Manner

in uncertainty is they most where you it Jacob, and there's that in in we Yes, the have waiver got spite hand. order. that PEPFAR of right

slowdown costs, think that direct PEPFAR is where sizing cost. everybody seen any So one to one But obviously significant monitor NIH we've monitoring need there's is most of a and solutions academic the indirect I'd and do part of what how say lot But the they the more the management a in we're to a that much QX are our respond talk closely sample kind. of of situation and lot guidance. gauging not of the changes. we've included The of that not We a concern. and a as that with is

that I think and the donor, but the that guidance. PEPFAR And $X order. funded, really that's of can QX we any alone impact less into other And right we expand got but is in under of on you on the an yes, just order. PEPFAR, right million incorporated U.S.

Jacob Johnson

Okay. as ask That's helpful. maybe just And on maybe question I'll Sapphiros. a follow-up, a

that? there the device Just potential update year, this blood any collection on approval and

Carrie Eglinton Manner

timing is it Yes, beyond that, regulatory regulatory process, this here anticipate we XXXX. the anticipate dependent we self-collected the through update still and in volume Sapphiros year. process, in process, blood works. No We still but on the to in still small but see still it that provide still

Operator

of JPMorgan. Our next question Casey comes from Woodring

Casey Woodring

additional have that BARDA one follow-up. to time expect that to contract. XXX(k) just to $XX I million? there get million on $X.X to is elaborate you Can burn just a how lines and the first FDA unlock on And The just you

Carrie Eglinton Manner

Yes.

it with and access $X.X them and full the on milestones those million, we the $XX BARDA for of do based back-end to the general, Marburg funding, work sort on loaded expect million. the in So potential

think just mantra and It part enough to on and small hemorrhagic point have big have more to is think Casey, deliver Ebola that, builds viruses. on great our but of you with Is it's I BARDA? expertise on it, And So on come, we're other that proof another enough builds post? relationship Casey, that to we another it did we care. have I in them. the And the

Casey Woodring

gross to just no, you margin And No, is the the just you helpful. one-off? guess, yes, why my on Yes. follow-up through in that's that's scrap just Can expense mentioned kind a Kind through line. exit of us XX%? then the the gross year I get quarter those elaborate rate that to of the on that line parts towards some the progression margin Ken mentioned. of walk there moving

Kenneth McGrath

Yes.

So, the expired one we we time, related materials our related that question the scrap had some to really for to of is that lines. was were product one first around think it that

So, we going don't think that will continue forward.

This Our is between of experienced in rate was we've normal XXX,XXX. XXX excess run that and that. anywhere

as It's that during remarks. drivers gross ones far As that I the gross bit give a margin towards mentioned margins confidence the the for working prepared that XX% us drivers range. little

Self-Test, it call savings shipping X, costs freight packaging, materials, both costs related in we that that. significantly obviously, reduces to the cost, Our our savings in HIV also our version packaging, you but gets and

an we're which developed automation this is that COVID excited other COVID-XX, HIV. our lines, product about case, other applying in that really our process to is during we're with we now So and that. Â The reel-to-reel,

area And news work there we of then where our constrained good another our is The insourcing manufacturing, see done The improvements anymore. aren't our where technologically for is our we some in-sourcing operating these the improvements margins. critical reagents some efficiency We've it. is continued in in other see there. contract

new as kind capabilities. the utilizing it's Now it you of volume just transition out these rolling

Operator

of Our next Andrew James. Raymond comes question Cooper from

Andrew Cooper

want of the are Can the isn't inventory line adjustment. that I on I one I being those just separate of not but margin I piece following backed gross confirm two or inventory the you sure. scrap distinct, sure discontinuance, out want and says mentioned product know that dynamic. things. the want the just up are you confirm out expiration and metrics. Maybe just those to you make scrap adjusted to make just there and to are reserve backing that is separate non-GAAP

Kenneth McGrath

Correct.

You are describing separate The risk testing from correct. separate. I'm write-down is here. what is That adjustment inventory

Carrie Eglinton Manner

winding down Based the on business.

Kenneth McGrath

down winding business. the on Based

Carrie Eglinton Manner

Separate from inventory. the expiration of

Andrew Cooper

sounded versus end why going headwind. XQ low confirm management. of necessarily Perfect. maybe guide, high hey, a noncore this pieces? like, the little it in on I thinking in the And $X is the wide. I then sample range kind just to headwind And think you across wanted that. bit just laid of you help not each think know million you're these I about assuming out, But said us substantial PEPFAR end, what's I Carrie, know here's

and low the So, rest thinking that again, should that the the of there? be what's range high we difference and of kind end between, about that end

Carrie Eglinton Manner

Yes.

out, other genomic in to large The ordering PEPFAR thing the called for pattern is customer. we a consumer Andrew, addition

other have strategic we we've matter relationships we a revenue, I discussions just a ongoing with I So that it, one be in international I'd shared that the implemented. again, that and recognize PEPFARÂ say country. has will implementation sorry, those have good ordering matter being the feel visibility I'm of we timing to will number in of a the It of strong visibility but and They of mentioned already with But able customers. ship a The of have think, shipped, teams matter again, very like in with timing. our factors. that's QX,

that we So sample it's And second customer management about now of the Ken? right more large terms And visibility what was have timing to. genomics in one.

Kenneth McGrath

could then it, around we international as of dollars as sized And large it is earlier, the million. $X size other patterns one, No, that about expected orders customer, sized combined couple academic, of you ordering well. Carrie million and the a Yes. a I think

Andrew Cooper

then folks kind year. telling year, of guide for like do this be from progressing these the standing to through But think heard refraining about but be as some other could if and you're I of how were Helpful. revenue instances of let the is that challenged. little go what And at know these mean, longer. timing, continues us ground sounds some I in back least Okay. headwinds of bit know full on we think sort a I efforts we your some one PEPFAR the it we've from about disrupted

pacing growth year do to the how specifically that and this Diagnostics into those can what later think even 'XX? recover we So, means about and the that

Carrie Eglinton Manner

Yes. for I'll start, support confident Andrew, that in bipartisan PEPFAR, of diseases the saved the the as in millions is a TB and for the with of terms been called and for lives answer most around have single-digit HIV, framed infectious low reiteration of amount. and has a we're direct PEPFAR important program. that test life-saving we test and in lot core What out. by the the malaria. And sizing treat treat program been specifically And

broadly you of of a But single again, So, feel in kind we're core this sized PEPFAR low to we for the give that. waiver. digits more holding

don't have becomes range, the we around best is it single-digit We're scoping that in push. Â So, sharing But you full And long have that's we super done when tell QX. And and kind have but best orders we incorporate Our in the we this visibility good now. year like that's to potential but enough more have visibility just we're provide of within fully versus looks We is test are in the just I that low $X and around. visibility, country. what better kind partners what the we've that what we'll optimistic of could waiver. have market right there we've That's programs, that what are with said, kind treat, overall really year we right of served now for we holding waived, have already Like that that's million. enough. movement, anticipate the important is the but year. best

Operator

comes Our Patrick next Citi. of Donnelly from question

Unknown Analyst

This is Brendan on for Patrick.

want or being I of in to in place tariffs touch China. Mexico even put Canada, on First, possibility the

So, possible steps are if you those then wondering to can impacts? standpoint, the I standpoint what you what exposures in of walk could manufacturing more to on so guys through from take and areas, manufacturing. both try revenue And was offset any guys those a the

Carrie Eglinton Manner

We reshored into talking manufacturing tariffs significant We in remember you'll will largely made Thailand, were ago. started U.S., in from over have into about Canada reshoring and or it operations. the In moved an Brendan. began months XXXX. we and a we administration progress change. complete closed Thanks, Yes, here from even Belgium, already before significant that We was XXXX. discussion U.S. significant there well earnest, the XX contract which

automation we talk of is ahead monitoring. But of reason ready we're to the in in consolidation when the that part tariff plans the that was We p.m., moving portion had our it a had this closely is tariff right discussion operations thing the started and leveraging into leveraging you'd well of. our if that about add it we U.S., have last of the that occur. our expect, we our is closely great news hour the sort during XX-day you know with place. pushout, And manufacturing, it that whatever COVID. around be and X:XX positions well I we that it's when and any of may contract was are discussion just remaining We And And Canadian the good the Ken, don't do the to really was scenario doing So, us we on means monitor. all directly exposure maybe strategic benefit, which capacities communications being that want exactly jump what maybe of a built had XXth capabilities because and is And for business.Â That what plans of overall. with customers implementation. to we got part scenario for

Kenneth McGrath

the we this in amount tariffs captured timing, uncertainty is that. outlook well One thing our the haven't given into No in time. the baked around the that that scope, and at

Carrie Eglinton Manner

out. Yes, good that's a call

Unknown Analyst

again. OpEx then the mind for it. regulatory wouldn't regards to Got to quick remember you I different and some mind expenses you acquisition. if Sherlock going trials processes, reiterating in one, the related think especially year, there And if if believe that kind through expectation guys of won't I one I were this correctly,

Kenneth McGrath

with by We I good the dramatically of we've, start is OpEx reduced news, the dollars. Yes. of but reduced it couple over year-over-year that our all we've last millions good years. news quarter,

made this area. of a we've So progress lot in

for said what said trial and the call the being the million, product. we've million clinical in $XX for that Sherlock, that For CT/NG the development we of to spend majority on we approval of between the expect $XX

Operator

question Our comes from... next

Carrie Eglinton Manner

And sorry,Â Brianna.

Kenneth McGrath

Sherlock. QX AndÂ Brendan, expect about QX about in were if million for spend to coming innovation of million OpEx, $XX amount, from related you that $X the $X for looking million, we

Carrie Eglinton Manner

Sorry, Brianna, more on, he's probably moved can detail. but provide we

Operator

course. of worries, No

of Vijay question from Kumar ISI. will next Evercore be Our

Unknown Analyst

is the Vijay. market one, just Can I out there the My then broader related there This called timing? And Is also, the to Or Daniel there? dynamics XQ. for genomics was quarter? know it really with any first on impact fourth softness? lumpiness in this customer timing on discuss you pure is you consumer

Carrie Eglinton Manner

of is an strategic significant and market market yes, some reason has genomics underway. end partners I not Daniel, Hi, the for alternative through consumer sort genomics has it part are large a great single would as us. that necessarily COVID. fact of remained broader process a customer say soft indicative who than it's the of That's other these

what with into XX We've at diversification good real concentrated and talked relationships past broadly, our been the customer we've customer But last QX. animal the in of clinical customer the of years composition the new the just the expansion from in customers expansion talking a very time, been clinical clinical about segments.Â That's of guided we've the things of sort maybe into have to X.X to like and transition health. a diversification for scripted We of and base customers, diagnostics types third That's remarks, diagnostics. more of number important they're to. has pharma green really for doing shoots areas research we where big that visibility expansion really highlighted why on least a and repeat base. lot and in But biotech, strong months our

is get we sort I uncertainty and say or we and as out their it that's broader So they don't that you guided believe environment we called representative know. more something visibility for asked what path we'll a around going customer of provide specifically. better to specifically, large but that year, We've single think because why of would on? so more QX we a understand to have we the

Unknown Analyst

serve frame about longer really then uncertainty? the us follow-up, the And you beyond downside from the operating of help quarter? type like frame of think you do how you outcomes? how Got a you over this through That's Can government-funded potential markets end And term the my range do first helpful. international business the it. potential

Carrie Eglinton Manner

that life-saving of beyond. and I even part treat lives I and in like Yes. the tough treat tens the I a HCV HIV. support there's is for due of programs, uncertainty, that bipartisan think expand of shows data and saved part for millions through mentioned that's I'd U.S., of the test mean that test to right,

I to QX four-year kind in think, tried government we've what the Daniel, both there were incorporated of our in guidance a the what desire changes we there the the tell U.S. is those do value seen and test we've And internationally federal U.S. way. Â What is terms, the that, of kind and in along changes public in sizing of consistency then to HIV we've and of by in frame been and afterward. epidemic prioritization health. part of look, significant the And played treat end have

funded, a And is the multiple of and lot private the communities. because that million sort international and donors, of in donors, shared we while guidance say themselves I meaning and key know. programs.Â So just evolves, it there public of support of anyone. that, frame that that, kind the trying that's kind pull large quality believe conclude in And has and that. multilateral. to the of global tried durable is countries we keep framing We'll we donor as uncertainty call. to And is is that So public closely incorporated in health of XX% everybody maybe posted of in and of multilateral from health it provided more And within we're repetition a cycles, as that's we we countries, to been monitoring as it business, key together that a we to portion support for to that international multilateral, of what of $XX what life with

Operator

it remarks. at Manner Eglinton would showing to like am now Carrie for turn no to time. back questions further this I closing I

Carrie Eglinton Manner

that, forward We'll look thank talking to everyone close. their call. participating Brianna. we With Well, again. you and interest today's we'll in for to for you, Thank

Operator

conference. the your in today's does conclude This for participation Thank you program.

disconnect. may You now

OraSure (OSUR) 25 Feb 252024 Q4 Earnings call transcript