Q1 2026 Precipio Inc Earnings Call Transcript
Key Points
- Precipio Inc (PRPO) reported a 30% increase in total revenue year-over-year, reaching $6.71 million for Q1 2026.
- The pathology services business remains stable and predictable, providing a strong operational foundation and consistent cash flow.
- The company has successfully established a commercial team that has already added approximately $3 million in annualized revenue potential to the pipeline.
- Precipio Inc (PRPO) has a significant runway for growth within its existing product portfolio, with a total addressable market of about $0.5 billion in the US.
- The company is focusing on expanding its commercial pipeline and expects increased conversion into revenue during the second half of the year.
- The new 2026 CMS fee schedule resulted in an 8% reduction in reimbursement for flow cytometry, impacting revenue and gross margins.
- Product revenue decreased by $80,000 due to a shift in customer order timing, affecting quarterly financial results.
- Adjusted EBITDA for Q1 2026 was negative $200,000, a significant decline from positive $960,000 in Q4 2025.
- Gross margin decreased to 40% from 47% in the previous quarter, primarily due to reimbursement changes and timing-related factors.
- The onboarding process for new customers in the products business is challenging, with factors like IT roadblocks and machine downtime causing delays.
Welcome to the Precipio first-quarter 2026 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, forecast, continue or the negative of these terms, 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, 2025, which is on file with the Securities and Exchange Commission, as well as other risks detailed in our subsequent filings with the
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