Orasure Technologies, Inc. saw its stock price rise by 4.9% today, closing at $8.41 per share. The company just announced a strategic partnership and investment in Sapphiro, marking a significant development in its expansion strategy.
According to the press release, Orasure's management expressed confidence in the partnership, with CEO Mark L. Handfelt stating, "We believe that this investment in Sapphiro aligns with our strategic growth initiatives and will provide opportunities for both companies to leverage their respective strengths and drive value creation."
This move comes at a time when Orasure is seeking to diversify its portfolio and explore new growth avenues. The management emphasized the potential synergies and market opportunities that this partnership offers, indicating a positive outlook for the company's future trajectory.
The full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (k) | $181,743 | $154,605 | $171,721 | $233,674 | $387,479 | $452,669 |
| Revenue Growth | n/a | -14.93% | 11.07% | 36.08% | 65.82% | 16.82% |
| Operating Margins | 16% | 12% | -3% | -4% | -6% | 9% |
| Net Margins | 11% | 11% | -9% | -10% | -5% | 11% |
| Net Income (k) | $20,396 | $16,656 | -$14,922 | -$22,998 | -$17,934 | $48,582 |
| Net Interest Expense (k) | $3,287 | $36 | $72 | $82 | $94 | $77 |
| Depreciation & Amort. (k) | $6,451 | $7,339 | $9,387 | $11,658 | $15,308 | $21,289 |
| Earnings Per Share | $0.33 | $0.27 | $0.22 | -$0.32 | -$0.25 | $0.66 |
| Diluted Shares (k) | 62,532 | 62,170 | 67,505 | 71,981 | 72,505 | 74,349 |
| Free Cash Flow (k) | $32,746 | $490 | -$20,867 | -$57,275 | -$53,976 | $94,459 |
| Capital Expenditures | $6,344 | $9,314 | $26,674 | $21,893 | $6,774 | -$12,254 |
| Current Ratio | 7.84 | 6.86 | 6.21 | 4.4 | 4.71 | 8.71 |
