Core Revenue Performance
Q1 core revenue was $29.5 million, above the midpoint of the guidance range, and flat year-over-year after adjusting for the exit from the risk assessment testing business.
Diagnostics Revenue Growth
Diagnostics revenue grew 8% year-over-year, driven by international business and initial orders for WHO PQ listed hepatitis C self-test.
Successful Integration of Sherlock Biosciences
Integration of Sherlock Biosciences is progressing well, contributing to OTI's product pipeline with molecular diagnostics innovation.
Stock Repurchase Program
Board authorized the repurchase of up to $40 million of common stock over the next two years, funded from cash on hand.
International Business Stability
International Diagnostics business remains steady despite funding uncertainties, with growth driven by hepatitis C self-test orders.
New Product Launches
Planned product launches include microbiome extraction kits, blood proteomics sample stabilization, and entrance into the small volume self-collected blood segment.