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EX - 99.1 2 osur - ex991_117.htm EX - 99.1 OraSure Technologies , Inc. Investor Contact : Sam Martin Argot Partners 212-600-1902 orasure@argotpartners.com Media Contact Jeanne Mell OraSure Technologies 484-353-1575 media@orasure.com Exhibit 99.1 OraSure Technologies , Inc. Announces First Quarter 2021 Financial Results and Provides COVID - 19 Update First Quarter 2021 Net Revenues of $ 59 Million Increased 85 % Over 2020 , Driven by $ 27 Million in Sales of Sample Collection Devices for COVID - 19 Molecular Testing EUA Application Submitted in Q1 to FDA for COVID - 19 Rapid Antigen Test for Both Prescription Home Use and Professional Use in Point of Care Settings Management to Host Analyst / Investor Call and Webcast Today at 5:00 p.m. ET BETHLEHEM , PA , May 5 , 2021 ( GLOBE NEWSWIRE ) -- OraSure Technologies , Inc. ( NASDAQ : OSUR ) , a leader in point - of - care diagnostic tests , specimen collection devices , and microbiome laboratory and analytical services , today announced its financial results for the three months ended March 31 , 2021 . " OraSure had another strong quarter , as the Company delivered double - digit year - over - year revenue growth for the third quarter in a row . Our sample collection devices for COVID - 19 molecular testing continue to make a significant contribution to our revenues . Moreover , we have submitted our COVID - 19 rapid antigen test to the US Food and Drug Administration for Emergency Use Authorization , and look forward to bringing a prescription home test and a professional test for point of care use to market , ” said Stephen Tang , Ph.D. , President and CEO of OraSure Technologies . Dr. Tang continued , “ As coronavirus variants continue to spread , we believe convenient , safe and accurate COVID - 19 testing will continue to play a key role in identifying those who are infected and helping to safely reopen workplaces , schools , and other places where people gather . We are confident in the market potential for our COVID products , as well as the resilience of our other business segments as demonstrated by the strong first quarter performance of our commercial genomics , microbiome , and domestic HIV testing business . Given the overall strong financial performance of our business , the EUA applications pending before the FDA and our solid financial foundation , we are confident that OraSure is well positioned for continued success . ' " Financial Highlights Net revenues for the first quarter of 2021 were $ 58.6 million , an 85 % increase from the first quarter of 2020. Net product and services revenues were $ 56.6 million , an 83 % increase from the first quarter of 2020 . 1