ProPhase Labs(PRPH) - 2025 Q3 - Quarterly Results

Financial Performance - For the three months ended September 30, 2025, net revenue was $0.9 million, a decrease from $1.4 million for the same period in 2024[14] - The company reported a net loss from continuing operations of $6.8 million, or $(0.16) per share, compared to a net loss of $5.0 million, or $(0.26) per share, for the same period in 2024[19] - Revenues for the three months ended September 30, 2025, were $883,000, a decrease of 37.6% compared to $1,416,000 for the same period in 2024[30] - Gross profit for the same period was a loss of $123,000, compared to a gross profit of $215,000 in the prior year[30] - The net loss for the three months ended September 30, 2025, was $6,839,000, compared to a net loss of $6,587,000 for the same period in 2024[30] - Adjusted EBITDA from continuing operations for the three months ended September 30, 2025, was a loss of $2,507,000, slightly improved from a loss of $2,558,000 in 2024[38] Cash and Expenses - Cash and cash equivalents as of September 30, 2025, were $405,000, down from $678,000 at December 31, 2024[20] - Cash and cash equivalents at the end of the period were $405,000, down from $501,000 at the end of the same period last year[33] - The company reported a net cash used in operating activities of $7,114,000 for the nine months ended September 30, 2025, compared to $14,020,000 for the same period in 2024[32] - General and administration expenses decreased to $4.6 million for the three months ended September 30, 2025, from $6.6 million in the same period in 2024[17] - Research and development costs significantly decreased to $6,000 for the three months ended September 30, 2025, compared to $122,000 for the same period in 2024[18] - Total operating expenses decreased to $4,641,000 from $6,695,000, representing a reduction of 30.6% year-over-year[30] - The company incurred interest expense of $1,549,000 for the three months ended September 30, 2025, compared to $993,000 in the prior year[30] - Total stockholders' equity decreased to $6,861,000 from $7,353,000 year-over-year[28] - The company recognized a debt extinguishment gain of $220,000 during the three months ended September 30, 2025[30] Strategic Initiatives and Developments - The company is in discussions for strategic initiatives, including a $50 million Crown Medical collections initiative and the commercialization of the BE-Smart™ Esophageal Cancer Test[1] - The BE-Smart™ test has received validation from a Mayo Clinic study, confirming its accuracy in Barrett's esophagus risk detection[6] - ProPhase Labs has outlined a 12-month commercialization roadmap for BE-Smart™, with multiple partnership inquiries received following its validation[10] - The company anticipates meaningful settlements from Crown Medical Collections within the next few months, which could provide substantial non-dilutive capital[5] - Nebula Genomics has become profitable on a pro-forma basis, contributing to the company's overall value[7]