Q2 2024 Precipio Inc Earnings Call Transcript
Key Points
- Revenue continued to grow, with the pathology division reaching breakeven at the end of Q2.
- Two out of three large customers have gone live with the HemeScreen program, contributing to revenue growth.
- The company saw an increase in cash of approximately $300,000 in Q2.
- Precipio Inc (PRPO) is making progress towards breakeven in the products division.
- The company has submitted materials for a pre-submission meeting with the FDA, with hopes for approval in 2025.
- The third large customer for the HemeScreen program is still facing operational issues and has not gone live yet.
- The company is still dealing with the aftermath of the Change Healthcare hack, affecting billing and collections.
- Despite revenue growth, the company is not yet profitable and is still working towards breakeven.
- The market remains skeptical of the company's performance and cash needs, potentially affecting stock price.
- Precipio Inc (PRPO) has not spent significant time and resources on investor relations, impacting investor attention and stock performance.
Welcome to the Precipio second-quarter 2024 shareholder update conference call. (Operator Instructions) Please note that the conference is being recorded.
Statements made during this call contain forward-looking statements about our business. You should not place undue reliance on forward-looking statements as these statements are based upon our current expectations, forecasts, and assumptions and are subject to significant risks and uncertainties. These statements may be identified by words such as may, will, should, could, expect, intend, plan, anticipate, believe, estimate, predict, potential, forecasts, continue, or the negative of these terms, or other words or terms of similar meaning.
Risks and uncertainties that could cause our actual results to differ materially from those set forth in any forward-looking statements include, but are not limited to, the matters listed under Risk Factors in our annual report on Form 10-K for the year ended December 31, 2023, which is on file with the Securities and Exchange Commission, as well as other risks detailed in our subsequent filings with
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