Precipio, Inc.

Listed Company

PRPOCIK 0001043961NasdaqNon-AcceleratedSmaller ReportingLaboratory Analytical InstrumentsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$24.05M

Net Income

$-363.0K

Total Assets

$21.32M

Equity

$14.56M

Shares Out

1.78M

Op. Cash Flow

$700.0K

Business

Precipio, Inc. is a healthcare biotechnology company focused on cancer diagnostics that develops and commercializes diagnostic technologies and services to reduce cancer misdiagnoses. It offers clinical laboratory diagnostic testing and proprietary products including HemeScreen molecular genetic panels, IV-Cell cell culture media, and complementary analysis software, as well as laboratory-developed tests. Operations are organized into pathology services (CLIA clinical laboratories), research and development, and a Products division responsible for commercialization, sales and distributor management. Precipio primarily serves the U.S. oncology diagnostic laboratory and oncology practice market through its CLIA labs and national distributor partners.

Summary from filing dated 2025-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue, net of contractual allowances and adjustments	24	19	15	10	9
Adjustment for allowance for credit losses	−197,000	−44,000	−218,000	−408,000	152,000
Net sales	24	19	15	9	9
Total cost of sales	13	11	9	7	6
Gross profit	11	8	6	3	2
Operating expenses	12	12	14	15	12
OPERATING LOSS	−1	−4	−8	−13	−10
Interest expense, net	−73,000	−74,000	—	—	—
Gain on settlement of liability	143,000	—	—	—	—
Employee Retention Credit	789,000	—	—	—	—
Other expense	−20,000	—	—	—	—
Total other income (expense)	839,000	−74,000	—	—	—
LOSS BEFORE INCOME TAXES	−363,000	−4	−6	−12	−9
INCOME TAX EXPENSE	0	0	0	0	0
NET LOSS	−363,000	−4	—	—	—
BASIC LOSS PER COMMON SHARE	−0.23	−2.93	−4.51	−10.73	−0.4
BASIC WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING	2	1	1	1	21
DILUTED LOSS PER COMMON SHARE	−0.23	−2.93	−4.51	−10.73	−0.4
DILUTED WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING	2	1	1	1	21

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-04-30
Cash	3	1	2	3	—
Accounts receivable (net of allowance for credit losses of $1,045 and $995, respectively)	2	799,000	1	1	—
Inventories	935,000	724,000	384,000	708,000	—
Other current assets	500,000	500,000	500,000	500,000	—
Total current assets	6	3	4	6	—
PROPERTY AND EQUIPMENT, NET	729,000	719,000	739,000	877,000	—
Finance lease right-of-use assets, net	998,000	517,000	174,000	257,000	—
Operating lease right-of-use assets, net	3	395,000	612,000	763,000	100,000
Intangibles, net	11	12	13	14	—
Other assets	67,000	45,000	76,000	129,000	—
Total assets	21	17	18	22	—
Current maturities of long-term debt, less debt issuance costs	30,000	297,000	235,000	255,000	—
Current maturities of finance lease liabilities	209,000	124,000	132,000	162,000	—
Current maturities of operating lease liabilities	410,000	201,000	218,000	199,000	—
Accounts payable	1	618,000	622,000	2	—
Accrued expenses	2	3	2	2	—
Deferred revenue	300,000	200,000	100,000	100,000	—
Total current liabilities	4	4	3	4	—
Long-term debt, less current maturities and debt issuance costs	47,000	77,000	106,000	134,000	—
Finance lease liabilities, less current maturities	751,000	348,000	18,000	68,000	—
Operating lease liabilities, less current maturities	2	206,000	407,000	574,000	—
Total liabilities	7	5	4	5	—
COMMITMENTS AND CONTINGENCIES (Note 8)	—	—	—	—	—
Preferred stock - $0.01 par value, 15,000,000 shares authorized at December 31, 2025 and December 31, 2024, 47 shares issued and outstanding at December 31, 2025 and December 31, 2024, liquidation preference of $135 at December 31, 2025	—	—	—	—	—
Common stock, $0.01 par value, 150,000,000 shares authorized at December 31, 2025 and December 31, 2024, 1,780,899 and 1,493,639 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	18,000	15,000	14,000	11,000	—
Additional paid-in capital	117	115	113	109	—
Accumulated deficit	−103	−102	−98	−92	—
Total stockholders' equity	15	12	14	16	—
Total liabilities and stockholders' equity	21	17	18	22	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	1	1	1	1
Amortization of operating lease right-of-use asset	319,000	217,000	209,000	187,000	219,000
Amortization of finance lease right-of-use asset	188,000	97,000	83,000	114,000	94,000
Amortization of deferred financing costs, debt discounts and debt premiums	3,000	3,000	3,000	4,000	3,000
Stock-based compensation	1	1	2	4	2
Value of stock issued in payment of Board fees and consulting services	241,000	386,000	177,000	—	150,000
Provision for credit losses	177,000	64,000	218,000	406,000	−150,000
Derecognition of finance lease right-of-use asset and liability	−4,000	2,000	—	—	—
Derecognition of operating lease right-of-use asset and liability	−38,000	—	—	—	—
Loss on disposal of asset	20,000	—	—	—	—
Accounts receivable	−1	438,000	−483,000	−745,000	327,000
Inventories	−211,000	−340,000	324,000	−144,000	−214,000
Other assets	48,000	303,000	451,000	491,000	−349,000
Accounts payable	513,000	−10,000	−169,000	165,000	112,000
Operating lease liabilities	−241,000	−218,000	−206,000	−182,000	−225,000
Deferred revenue	50,000	122,000	−9,000	101,000	12,000
Accrued expenses	−966,000	975,000	698,000	−329,000	−58,000
Net cash provided by operating activities	700,000	439,000	−4	−8	−7
Purchase of property and equipment	−326,000	−223,000	−126,000	−277,000	−682,000
Net cash used in investing activities	−326,000	−223,000	−126,000	−277,000	−682,000
Principal payments on finance lease obligations	−157,000	−92,000	−80,000	−151,000	−130,000
Deposits on finance lease right-of-use assets	−20,000	−28,000	—	—	—
Issuance of common stock, net of issuance costs	—	78,000	2	129,000	16
Proceeds from exercise of warrants	1	—	—	11,000	400,000
Proceeds from exercise of stock options	119,000	—	—	—	3,000
Proceeds from debt	—	250,000	—	—	—
Principal payments on long-term debt	−300,000	−537,000	−423,000	−214,000	−40,000
Net cash flows provided by (used in) financing activities	903,000	−329,000	2	−225,000	16
NET CHANGE IN CASH	1	−113,000	−2	−8	9
Cash paid during the period for interest	100,000	85,000	42,000	45,000	34,000
Purchases of equipment financed through accounts payable	—	6,000	11,000	34,000	58,000
Prepaid insurance financed with loan	—	317,000	372,000	413,000	—
Operating lease right-of-use assets obtained in exchange for operating lease obligations	3	0	100,000	100,000	800,000
Finance lease right-of-use assets obtained in exchange for finance lease obligations	649,000	414,000	—	12,000	347,000

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