Precipio(US:PRPO)2023-08-17 22:32Financial Data and Key Metrics Changes - In Q3, the company achieved $2.7 million in revenues, representing 77% of its goal, with July marking the first time revenues exceeded $1 million [9] - The company aims to reach breakeven with a target of $14 million annual run rate for the Pathology Services Division, translating to approximately $3.5 million per quarter [25] Business Line Data and Key Metrics Changes - The Pathology Services Division's breakeven point is approximately $14 million annual run rate, with ongoing efforts to add new customers to create a predictable revenue stream [25][26] - The Products Division aims for an $8 million annual run rate, with current revenues at approximately $900,000, or 45% of the target [15] Market Data and Key Metrics Changes - The company has a pipeline of over $10 million in annual revenue, with expectations to close 40% of this pipeline to achieve breakeven [17] - The HemeScreen product suite has a total available market of approximately $500 million per year, while IVCell has a market of $250 million [19] Company Strategy and Development Direction - The primary goal for 2023 is to achieve breakeven and financial independence, eliminating the need to raise capital to cover cash burn [12][30] - The company plans to focus on new product development and technology expansion in 2024, diversifying revenue sources and reducing reliance on a single technology platform [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the share price stagnation is primarily due to concerns about potential capital raises, which could dilute shareholder value [21] - The company believes that as it continues to deliver results and improve its cash position, the downward pressure on the share price will subside [22] Other Important Information - Cost-cutting initiatives are projected to have a positive net impact of over $40 million in cash annually, with ongoing efforts to reduce monthly cash burn [32] - The company is prepared for a reverse stock split, which is seen as a way to increase share price and attract more investors without changing the overall market value [34][35] Q&A Session Summary Question: Would the company like to regain compliance organically? - The management expressed a desire to regain compliance organically while acknowledging that performance is key to achieving this goal [2] Question: What is the focus for the company moving forward? - The focus is on increasing revenue, reducing costs, and reaching breakeven, with confidence that the market will recognize the company's true value once these goals are met [3]