Precipio Q1 revenue rises on higher pathology sales

Precipio, Inc.

Precipio, Inc.

PRPO

0.00


Overview

  • US specialty cancer diagnostics firm's Q1 revenue rose yr/yr, driven by higher pathology sales

  • Adjusted EBITDA for Q1 was negative, reflecting increased costs and delayed product shipments

  • Company reported positive cash flow from operations, but overall cash burn due to bonus payments


Outlook

  • Company expects delayed product revenue to be recognized in Q2 due to shipment timing

  • Company says underlying business fundamentals, especially the product pipeline, continue to grow


Result Drivers

  • PRODUCT SHIPMENT DELAY - Decline in product revenue and gross profit was largely due to a delayed shipment to a major customer, shifting revenue to Q2

  • CMS REIMBURSEMENT CUTS - Pathology gross profit decreased due to CMS cuts

  • HIGHER OPERATING COSTS - Increased costs from hiring a product business development team impacted results


Company press release: ID:nGNX3sg9xV


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

$6.71 mln


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