$PRPO
Precipio, Inc.

2024 Q2 Form 10-Q Financial Statement

#000155837024008128 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $4.441M $3.432M
YoY Change 25.7% 21.83%
Cost Of Revenue $2.725M $2.512M
YoY Change 26.04% 21.47%
Gross Profit $1.716M $920.0K
YoY Change 25.16% 22.83%
Gross Profit Margin 38.64% 26.81%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $314.0K $304.0K
YoY Change -5.14% -1.94%
% of Gross Profit 18.3% 33.04%
Operating Expenses $2.925M $2.994M
YoY Change -20.15% -20.69%
Operating Profit -$1.209M -$2.074M
YoY Change -47.25% -31.46%
Interest Expense -$11.00K -$5.000K
YoY Change 1000.0% 25.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.220M -$2.079M
YoY Change -46.79% -31.39%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.220M -$2.079M
YoY Change -46.79% -31.39%
Net Earnings / Revenue -27.47% -60.58%
Basic Earnings Per Share -$0.83 -$1.46
Diluted Earnings Per Share -$0.83 -$1.46
COMMON SHARES
Basic Shares Outstanding 1.470M 1.430M
Diluted Shares Outstanding 1.464M 1.426M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.279M $776.0K
YoY Change -50.29% -63.76%
Cash & Equivalents $1.279M $776.0K
Short-Term Investments
Other Short-Term Assets $325.0K $381.0K
YoY Change -8.19% -15.33%
Inventory $653.0K $532.0K
Prepaid Expenses
Receivables $1.107M $906.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.364M $2.595M
YoY Change -22.63% -35.04%
LONG-TERM ASSETS
Property, Plant & Equipment $683.0K $672.0K
YoY Change -13.65% -19.42%
Goodwill
YoY Change
Intangibles $12.34M $12.58M
YoY Change -7.15% -7.01%
Long-Term Investments
YoY Change
Other Assets $58.00K $64.00K
YoY Change -44.23% -44.83%
Total Long-Term Assets $13.95M $14.03M
YoY Change -7.74% -9.07%
TOTAL ASSETS
Total Short-Term Assets $3.364M $2.595M
Total Long-Term Assets $13.95M $14.03M
Total Assets $17.32M $16.62M
YoY Change -11.06% -14.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $855.0K $905.0K
YoY Change -64.4% -58.68%
Accrued Expenses $2.918M $1.819M
YoY Change 53.98% 7.95%
Deferred Revenue $300.0K $200.0K
YoY Change 1664.71% 100.0%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $249.0K $133.0K
YoY Change 822.22% -6.34%
Total Short-Term Liabilities $4.595M $3.327M
YoY Change -2.67% -26.08%
LONG-TERM LIABILITIES
Long-Term Debt $92.00K $99.00K
YoY Change -23.33% -22.05%
Other Long-Term Liabilities $301.0K $353.0K
YoY Change -40.86% -32.12%
Total Long-Term Liabilities $92.00K $99.00K
YoY Change -23.33% -22.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.595M $3.327M
Total Long-Term Liabilities $92.00K $99.00K
Total Liabilities $5.203M $3.850M
YoY Change -3.31% -25.93%
SHAREHOLDERS EQUITY
Retained Earnings -$101.4M -$100.2M
YoY Change 3.89% 5.14%
Common Stock $14.00K $14.00K
YoY Change -94.91% -93.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.12M $12.77M
YoY Change
Total Liabilities & Shareholders Equity $17.32M $16.62M
YoY Change -11.06% -14.41%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$1.220M -$2.079M
YoY Change -46.79% -31.39%
Depreciation, Depletion And Amortization $314.0K $304.0K
YoY Change -5.14% -1.94%
Cash From Operating Activities $500.0K -$700.0K
YoY Change -141.6% -56.25%
INVESTING ACTIVITIES
Capital Expenditures $70.00K
YoY Change 118.75%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$70.00K $0.00
YoY Change 118.75% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 73.00K -59.00K
YoY Change -95.62% -120.14%
NET CHANGE
Cash From Operating Activities 500.0K -700.0K
Cash From Investing Activities -70.00K 0.000
Cash From Financing Activities 73.00K -59.00K
Net Change In Cash 503.0K -726.0K
YoY Change 16.44% -44.33%
FREE CASH FLOW
Cash From Operating Activities $500.0K -$700.0K
Capital Expenditures $70.00K
Free Cash Flow $430.0K
YoY Change -134.85%

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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
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CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2024Q1 prpo Lessee Operating And Finance Lease Liability Undiscounted Excess Amount
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CY2024Q1 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Finance Lease Liability
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CY2024Q1 prpo Operating And Finance Lease Liability
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CY2024Q1 us-gaap Operating Lease Liability Current
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CY2024Q1 prpo Operating And Finance Lease Liability Noncurrent
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CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y9M18D
CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2024Q1 us-gaap Contract With Customer Liability Current
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200000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
100000
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1070
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2023Q1 us-gaap Operating Lease Payments
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100000
CY2024Q1 us-gaap Operating Lease Payments
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100000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
CY2024Q1 us-gaap Operating Lease Cost
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100000
CY2024Q1 us-gaap Common Stock Shares Authorized
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150000000
CY2018Q4 us-gaap Common Stock Shares Authorized
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150000000
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2024Q1 us-gaap Preferred Stock Shares Authorized
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15000000
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459535
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
400000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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500000
CY2024Q1 us-gaap Number Of Reportable Segments
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1
CY2024Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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7741000
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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5564000
CY2024Q1 prpo Contractual Allowance And Adjustments
ContractualAllowanceAndAdjustments
4263000
CY2023Q1 prpo Contractual Allowance And Adjustments
ContractualAllowanceAndAdjustments
2735000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3478000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2829000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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3478000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2829000
CY2024Q1 prpo Allowance For Doubtful Accounts Revenue
AllowanceForDoubtfulAccountsRevenue
46000
CY2023Q1 prpo Allowance For Doubtful Accounts Revenue
AllowanceForDoubtfulAccountsRevenue
12000
CY2024Q1 us-gaap Revenues
Revenues
3432000
CY2023Q1 us-gaap Revenues
Revenues
2817000
CY2024Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
3561000
CY2023Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
3873000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2655000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2572000
CY2024Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
906000
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
1301000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2572000
CY2024Q1 prpo Allowance For Doubtful Accounts Revenue
AllowanceForDoubtfulAccountsRevenue
46000
CY2024Q1 prpo Allowance For Doubtful Accounts Bad Debt Expense
AllowanceForDoubtfulAccountsBadDebtExpense
37000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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83000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false

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