Precipio(PRPO) - 2021 Q2 - Earnings Call Transcript

Financial Data and Key Metrics Changes - Revenue from pathology services increased by 55% year-over-year and 29% from Q1 to Q2 of 2021 [7] - Collection rate improved from the 70% range to approaching 90% billable revenue, positively impacting cash flow [8] Business Line Data and Key Metrics Changes - Pathology services continue to be the primary revenue driver, with significant growth attributed to new customer acquisition and improved collections [7] - HemeScreen is expected to contribute significantly to growth, with operations and revenues anticipated to commence in Q4 2021 [12] Market Data and Key Metrics Changes - The U.S. HemeScreen market is projected to approach several hundred million dollars per year, indicating substantial market potential [14] Company Strategy and Development Direction - The company plans to maintain high-quality clinical diagnostic services, focus on quality production fulfillment, and leverage R&D expertise to broaden offerings [23][24] - HemeScreen is identified as a key focal point for future growth, providing financial stability and enhancing patient care [19] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges in the sales environment due to market restrictions but believes the entire industry is facing similar issues, which could lead to collective growth [9][10] - The company is optimistic about reaching a $10 million run rate by the end of the year, marking a significant milestone [11] Other Important Information - A new production facility for HemeScreen is planned to ensure quality and consistency in product delivery [18] - The company celebrated its 10th anniversary, highlighting its commitment to impactful patient care through accurate diagnostics [28][30] Summary of Q&A Session - The conference call concluded without a formal Q&A session, as indicated by the operator's closing remarks [32]