Financial Performance - For Q3 2024, ProPhase Labs reported net revenue of $3.1 million, a decrease from $8.4 million in Q3 2023, primarily due to a $2.5 million drop in diagnostic services and a $2.7 million decline in consumer products [10]. - The company experienced a gross margin loss of $0.2 million in Q3 2024, compared to a gross margin profit of $2.3 million in Q3 2023, resulting in an overall gross margin of (5.2)% versus 27.8% in the prior year [12]. - Total revenues for the three months ended September 30, 2024, were $3,146,000, a decrease from $8,365,000 for the same period in 2023, representing a decline of approximately 62.4% [23]. - Gross loss for the three months ended September 30, 2024, was $(165,000), compared to a gross profit of $2,327,000 for the same period in 2023 [23]. - Net loss for the nine months ended September 30, 2024, was $(19,005,000), compared to a net loss of $(8,031,000) for the same period in 2023, reflecting an increase in losses of approximately 136.5% [24]. - GAAP net income for September 30, 2024, was $(6,587,000), compared to $(5,141,000) for September 30, 2023 [30]. - EBITDA for September 30, 2024, was $(5,547,000), compared to $(3,368,000) for September 30, 2023 [30]. - Adjusted EBITDA for September 30, 2024, was $(4,440,000), compared to $(2,525,000) for September 30, 2023 [30]. - The company reported a basic loss per share of $(0.35) for the three months ended September 30, 2024, compared to $(0.30) for the same period in 2023 [23]. Cash Flow and Liquidity - As of November 12, 2024, the company reported $3.1 million in cash and cash equivalents, with an improved working capital position [7]. - Cash used in operating activities for the nine months ended September 30, 2024, was $(13,967,000), compared to $(11,135,000) for the same period in 2023, indicating a rise in cash outflow of approximately 25.4% [24]. - Cash and cash equivalents at the end of the period were $1,094,000, compared to $702,000 at the end of the same period in 2023, showing an increase of about 55.9% [24]. - Interest payment on promissory notes increased to $2,126,000 from $740,000 [25]. - Cash paid for income taxes decreased to $860,000 from $3,000,000 [25]. Expenses and Liabilities - Operating expenses for the three months ended September 30, 2024, totaled $7,772,000, down from $8,805,000 in the same period of 2023, indicating a decrease of about 11.7% [23]. - Total liabilities increased to $53,682,000 as of September 30, 2024, compared to $42,544,000 as of September 30, 2023, marking an increase of about 26.1% [22]. - Total stockholders' equity decreased to $38,126,000 as of September 30, 2024, from $49,383,000 as of September 30, 2023, representing a decline of approximately 22.7% [22]. - The company incurred depreciation and amortization expenses of $5,693,000 for the nine months ended September 30, 2024, compared to $4,435,000 for the same period in 2023, reflecting an increase of approximately 28.4% [24]. Strategic Initiatives - ProPhase anticipates Pharmaloz Manufacturing to generate over $15 million in revenues and $5 million in pre-tax earnings over the next 12 months, excluding contributions from a second manufacturing line [2]. - The company is in late-stage discussions with a major lozenge brand for a long-term contract that could add an additional $20-$25 million in revenues in its first year of production [3]. - ProPhase has initiated strategic partnership discussions for the BE-Smart Esophageal Cancer Test with two multi-billion-dollar cancer diagnostic companies [4]. - The launch of DNA Complete and DNA Expand is expected to enhance customer engagement and generate high-margin revenue through subscription services [5]. - ProPhase anticipates significant sequential improvement in revenues and EBITDA in Q4 2024, supported by strategic advancements across its subsidiaries [7]. - ProPhase plans to eliminate approximately $6 million in overhead and expenses in 2025 to focus on core assets and initiatives [2]. Non-Cash and Other Expenses - Share-based compensation expense for September 30, 2024, was $636,000, compared to $744,000 for September 30, 2023 [30]. - Non-cash rent expense for September 30, 2024, was $471,000, compared to $99,000 for September 30, 2023 [30]. - Net unrealized loss on investments in marketable debt securities decreased to $267,000 from $2,083,000 [25]. - Assets obtained in exchange for new finance lease obligations decreased to $3,699,000 from $6,201,000 [25]. - Common stock issued in an asset acquisition was $1,000,000 [25].

Core Insights - ProPhase Labs, Inc. reported a quarterly loss of $0.35 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.31, and compared to a loss of $0.30 per share a year ago, indicating a negative earnings surprise of -12.90% [1] - The company generated revenues of $3.15 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 11.56%, but down from $8.37 million in the same quarter last year [2] - ProPhase Labs shares have declined approximately 83.7% year-to-date, contrasting with a 25.5% gain in the S&P 500 [3] Earnings Outlook - The future performance of ProPhase Labs' stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - Current consensus EPS estimate for the upcoming quarter is -$0.24 on revenues of $5.88 million, and for the current fiscal year, it is -$1.23 on revenues of $14.8 million [7] Industry Context - The Medical - Drugs industry, to which ProPhase Labs belongs, is currently ranked in the top 25% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Another company in the same industry, Plus Therapeutics, is expected to report a quarterly loss of $0.46 per share, reflecting a year-over-year change of +54%, with revenues anticipated to be $1.4 million, up 12.9% from the previous year [9][10]

GARDEN CITY, NY, Nov. 11, 2024 (GLOBE NEWSWIRE) -- ProPhase Labs Inc. (NASDAQ: PRPH), (the “Company” or “ProPhase”), a next generation biotech, genomics and diagnostics company, today announced that they will be presenting third quarter 2024 financial results on a virtual conference call hosted by Renmark Financial on November 13, 2024 at 11:00 AM EST. A press release detailing these results will be issued prior to the virtual conference call. ProPhase Labs Inc. welcomes stakeholders, investors, and other i ...

GARDEN CITY, NY, Nov. 07, 2024 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH) (“ProPhase” or the “Company”), a next-generation biotech, genomics and diagnostics company, today announced the pricing of its underwritten public offering of 4,170,000 shares of common stock. Each share of common stock is being sold at a public offering price of $0.72 per share, for gross proceeds of approximately $3 million, before deducting underwriting discounts, and offering expenses. All of the shares are being offer ...

Projections for Pharmaloz Manufacturing: Approximately $16-17 Million in Revenue, $6-7 Million in PreTax Earnings for 2025 Strategic Partnership Discussions Begin for BE-Smart Esophageal Cancer Test GARDEN CITY, NY, Oct. 17, 2024 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH) (the "Company" or "ProPhase"), a next generation biotech, genomics, and diagnostics company, today announced significant progress across several key projects. Pharmaloz Manufacturing Inc. (PMI): In Q3, the Company engaged Think ...

GARDEN CITY, NY, Aug. 19, 2024 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH) ("ProPhase" or the "Company"), a next-generation biotech, genomics, and diagnostics company, today announced that it will be presenting at the Virtual Investor Summit Microcap Event. The company will be available for 1-on-1 meetings throughout the day in addition to their presentation. Event: Q3 Investor Summit Date: August 20th, 2024 Presentation Time: 1:00 P.M. ET Location: https://www.webcaster4.com/Webcast/Page/3062/51 ...

| --- | --- | |--------------------------------------|--------------| | | | | August 14, 2024 | | | ProPhase Labs Announces | Financial | | Results for the Three Months | Ended June | 30, 2024 Company Anticipates Significant Sequential Growth in Quarterly Revenues Beginning in Q3 2024 and Beyond Reports Pharmaloz Growth Acceleration Has Begun in Q3 2024 and Potential Sale of Business Announces Major DTC Initiatives for Nebula Genomics, anticipating new sales ramp in Q4 2024 Company to hold a virtual confere ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 000-21617 ProPhase Labs, Inc. (Exact name of registrant as specified in its charter) Delaware 23-2577138 | --- | --- | --- | |------ ...

ProPhase Labs, Inc. (NASDAQ:PRPH) Q2 2024 Earnings Conference Call August 14, 2024 11:00 AM ET Company Participants Noella Alexander-Young - Renmark Financial Communications Ted Karkus - Chief Executive Officer Conference Call Participants Hunter Diamond - Diamond Equity Noella Alexander-Young Hello and good morning, everyone. Welcome to today's presentation. My name is Noella Alexander-Young, Virtual Event Moderator here at Renmark Financial Communications. On behalf of our team we want to thank everyone f ...

Exhibit 99.1 ProPhase Labs Announces Financial Results for the Three Months Ended June 30, 2024 Company Anticipates Significant Sequential Growth in Quarterly Revenues Beginning in Q3 2024 and Beyond Reports Pharmaloz Growth Acceleration Has Begun in Q3 2024 and Potential Sale of Business Announces Major DTC Initiatives for Nebula Genomics, anticipating new sales ramp in Q4 2024 Company to hold a virtual conference call Wednesday, August 14, 2024, at 11:00 AM ET GARDEN CITY, NY, August 14, 2024 (GLOBE NEWSW ...