Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 25, 2026
Orasure Technologies Inc (OSUR)
A forensic read on Orasure Technologies Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
5.7
Distress distance
Clean
Earnings quality
4
Forensic signals
-5.3
P / E (ttm)
-20.2%
ROE
$275M
Market cap
0.00%
Dividend yield
-38.1%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Orasure Technologies Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 5.7, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
70d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 47 to 70 days FY2024→FY2025 (receivables -7% vs revenue -38%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Across FY2023–FY2025 the day count ran 36 → 47 → 70 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
178d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 140 to 178 FY2024→FY2025 (against cost of goods sold; inventory -9% vs -37% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
-34.6%
FY2025
Return on invested capital.Return on invested capital is -34.6% in the latest fiscal year and slipping across FY2023–FY2025 from 19.2%. After-tax operating profit was $29M in FY2023 and ($57M) in FY2025, with operating income at 8.1% of revenue in FY2023, -15.2% in FY2024 and -62.6% in FY2025. The capital base behind it barely moved across FY2023–FY2025 ($153M to $164M, +7%), so there has been little new capital for that return to be earned on. FY2024's operating profit carried a $4M asset write-down that alone took about 1.9 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it.
FCF ($53M)
FY2025
Key fundamentals
Latest Revenue$115.0M
Revenue Growth YoY-38.1%
Revenue CAGR (2yr)-46.7%
Net Margin-59.8%
Free Cash Flow-$53.2M
Return on Equity-20.2%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Orasure Technologies Inc's actual 10-K/10-Q/8-K filings?
Shareholder returns.Returned $15M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($53M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.