Interpace Diagnostics Group, Inc.(IDXG) - 2025 Q1 - Quarterly Results

Interpace Biosciences First Quarter 2025 Results Business and Financial Highlights Interpace Biosciences reported strong Q1 2025 financial results, driven by record Thyroid test revenue and cash collections, and initiated full-year 2025 revenue guidance - Management highlighted record Thyroid test revenue and cash collections, attributing the success to increased volume and collection initiatives. The company's cash position enabled investments in AI and automation for lab efficiency and allowed for additional principal payments on long-term debt[2][3] - The company has initiated its full-year 2025 revenue guidance at approximately $38 million, factoring in the expected loss of PancraGEN revenue after May 2, 2025[2] Q1 2025 Financial Performance vs. Q1 2024 | Metric | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Net Revenue | $11.5 million | $10.2 million | +13% | | Cash Collections | $11.3 million | - | +10% | | Thyroid Test Volume | - | - | +16% | | Thyroid Revenue | $8.0 million | - | +19% | | Gross Profit % | 64% | 62% | +2 p.p. | | Operating Income | $1.8 million | $1.1 million | +64% | | Income from Continuing Ops | $1.8 million | $0.8 million | +125% | | Adjusted EBITDA | $2.1 million | $1.2 million | +75% | Financial Statements This section presents the company's condensed consolidated statements of operations, selected balance sheet data, and cash flow information Condensed Consolidated Statements of Operations The Q1 2025 statement of operations reflects significant year-over-year growth in net revenue, gross profit, and net income Q1 2025 vs Q1 2024 Statement of Operations (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue, net | $11,515 | $10,178 | | Gross Profit | $7,370 | $6,311 | | Total operating expenses | $5,541 | $5,197 | | Operating income | $1,829 | $1,114 | | Income from continuing operations | $1,754 | $812 | | Net income | $1,647 | $708 | | Basic EPS from continuing ops | $0.40 | $0.19 | Selected Balance Sheet Data The balance sheet as of March 31, 2025, indicates a reduction in total liabilities and a significant improvement in the stockholders' deficit Balance Sheet Data (in thousands) | Metric | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $1,196 | $1,461 | | Total current assets | $11,654 | $11,773 | | Total current liabilities | $8,678 | $10,615 | | Total liabilities | $15,076 | $17,009 | | Total stockholders' deficit | ($582) | ($2,217) | Selected Cash Flow Data Cash flow data for Q1 2025 shows a positive shift to cash generation from operating activities, with increased cash used in financing for debt repayment Cash Flow Data for Three Months Ended March 31 (in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $1,235 | ($58) | | Net cash used in investing activities | $0 | ($28) | | Net cash used in financing activities | ($1,500) | ($600) | | Change in cash and cash equivalents | ($265) | ($686) | | Cash and cash equivalents – ending | $1,196 | $2,812 | Non-GAAP Financial Measures The company presents Adjusted EBITDA as a key non-GAAP measure to assess ongoing business performance and cash flow, showing a significant increase in Q1 2025 - Management uses Adjusted EBITDA to measure the cash flow of the ongoing business. It is defined as income from continuing operations adjusted for depreciation, amortization, stock-based compensation, severance, interest, taxes, and other non-cash expenses[20][21] Reconciliation of Adjusted EBITDA (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Income from continuing operations (GAAP) | $1,754 | $812 | | Depreciation and amortization | $95 | $52 | | Stock-based compensation | $15 | $79 | | Severance expense | $168 | $0 | | Note payable interest | $78 | $197 | | Other adjustments | ($15) | $86 | | Adjusted EBITDA (Non-GAAP) | $2,096 | $1,245 | About Interpace Biosciences & Forward-Looking Statements Interpace Biosciences specializes in molecular diagnostic tests for cancer risk evaluation, and this report includes standard forward-looking statements regarding future performance - The company's clinical services offer molecular diagnostic tests for cancer risk evaluation, including three commercialized tests: ThyGeNEXT®, ThyraMIR®v2 (thyroid cancer), and RespriDX® (lung cancer)[7] - The press release includes forward-looking statements concerning future financial and operating performance, which are subject to various risks and uncertainties, including the potential inaccuracy of revenue estimates and reliance on third-party payer reimbursements[9][10]