OraSure Technologies, Inc. (NASDAQ:OSUR) Q1 2023 Earnings Conference Call May 10, 2023 5:00 PM ET

Company Participants

Scott Gleason - Head of Investor Relations

Carrie Manner - President & Chief Executive Officer

Ken McGrath - Chief Financial Officer

Conference Call Participants

Casey Woodring - JPMorgan

Operator

Good day, and thank you for standing-by. Welcome to the OraSure Technologies Earnings Conference Call. At this time, participants are in listen-only mode. After the speaker presentation, there will be a question-and-answer session [Operator Instructions]. Please be advised that today’s conference is being recorded.

I would like to hand the conference over to Scott Gleason, Head of Investor Relations. Please go ahead.

Scott Gleason

Thanks, Amanda and good afternoon. Welcome to OraSure’s first quarter 2023 earnings call. I'm Scott Gleason, the SVP of Investor Relations and Communications. Presenting with me today for OraSure is Carrie 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, factors that could affect results are discussed more fully in the company's SEC filings, including its registration statements, its Annual Report on Form 10-K for the year ended December 31, 2022, its quarterly reports on Form 10-Q and its other SEC filings.

Although forward-looking statements help to provide complete information about our future prospects, listeners should keep in mind that forward-looking statements are based solely on information available to management as of today. The company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after this call.

With that, I'm pleased to turn the call over to Carrie.

Carrie Manner

Thanks, Scott, and thank you to everyone for joining us today. We are pleased to report on the progress we continue to make in our strategic transformation, beginning with strengthening our foundation for growth, allowing us to elevate our core growth and then to accelerate profitable growth.

This quarter, we strengthened our foundation and bolstered our cash position with meaningful potential to unlock working capital moving forward. We saved on costs, we delivered on COVID-19 with record IntelliSwab volumes, and we completed our business unit integration while culturally reinforcing our mantra, innovating and operating with disciplined execution and accountability. We also grew sequentially in our core.