We study the bifurcation curve and exact multiplicity of positive solutions of the positone problemwhere λ > 0 is a bifurcation parameter, f ∈ C 2 [0, ∞) satisfies f (0) > 0 and f (u) > 0 for u > 0, and f is convex-concave on (0, ∞). Under a mild condition, we prove that the bifurcation curve is S-shaped on the (λ, u ∞ )-plane. We give an application to the perturbed Gelfand problemwhere a > 0 is the activation energy parameter. We prove that, if a a * ≈ 4.166, the bifurcation curve is S-shaped on the (λ, u ∞ )-plane. Our results improve those in [S.-H. Wang, On S-shaped bifurcation curves, Nonlinear Anal. 22 (1994) 1475-1485] and [P. Korman, Y. Li, On the exactness of an S-shaped bifurcation curve,