OraSure Technologies, Inc. (NASDAQ:OSUR) Q1 2024 Earnings Conference Call May 8, 2024 4:45 PM ET

Company Participants

Jason Plagman – Vice President-Investor Relations
Carrie Eglinton Manner – President and Chief Executive Officer
Ken McGrath – Chief Financial Officer

Conference Call Participants

Jordan Adler – Evercore ISI

Operator

Good day, and thank you for standing by. Welcome to the OraSure Technologies First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to turn the conference over to your speaker today Jason Plagman, Vice President of Investor Relations. Please go ahead.

Jason Plagman

Good afternoon, and welcome to OraSure Technologies’ first 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 in markets, business plans, regulatory filings and approvals, expectations and strategies.

Actual results could significantly differ. Factors that could affect results are discussed more fully in OTI’s SEC filings including its registration statements 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. Although, forward-looking statements help to provide more complete information about future prospects, listeners should keep in mind that forward-looking statements are based solely on information available to management as of today. OTI undertakes no obligation to update any forward-looking statements to reflect events or circumstances after this call.

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

Carrie Eglinton Manner

Thanks, Jason, and thank you to everyone for joining us today. We are pleased to provide an update on the progress OraSure is making on the three pillars of our strategic transformation. And before I talk about the quarter, I just want to frame what’s strengthening our foundation, elevating our core growth and accelerating profitable growth look like in our business.

Strengthening is our organizational restructuring and cost rebalancing that has improved our balance sheet and cash flow generation. Elevating is the focus on our core capabilities and leveraging these strengths internally and in strategic partnerships to expand our product portfolio and the market segments we serve. Accelerating is about investing for profitable mid and long-term growth, while our end segments rebuild momentum.