Precipio, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company achieved net sales of approximately $6.8 million, marking a 30% increase from $5.2 million in the same period last year. This growth was primarily driven by a 34% rise in service revenue, which reached $6.0 million, attributed to an increase in the number of cases processed—4,258 cases in Q3 2025 compared to 3,584 in Q3 2024. Product revenue also saw a modest increase, totaling $721,681, up from $681,000 in the prior year.
In terms of profitability, Precipio reported a gross profit of $3.0 million for the quarter, up from $2.3 million a year earlier, maintaining a consistent gross margin of 44%. However, the company recorded a net loss of $79,000, a notable improvement from a loss of $626,000 in Q3 2024. For the nine months ending September 30, 2025, the net loss was $889,000, compared to a loss of $3.9 million in the same period last year, indicating a significant reduction in losses.
Operationally, Precipio has made strides in its customer engagement, processing a total of 10,971 cases in the first nine months of 2025, a 25% increase from 8,745 cases in the same period of 2024. The company’s total current assets rose to $5.7 million from $3.5 million at the end of 2024, while current liabilities increased slightly to $4.5 million. The company’s working capital improved to $1.2 million, a turnaround from a negative working capital of $820,000 at the end of 2024.
Strategically, Precipio has focused on enhancing its operational capabilities and financial position. The company received approximately $1.3 million from the exercise of warrants during the quarter, contributing to its cash position of $2.3 million as of September 30, 2025. However, the company continues to face challenges, including an accumulated deficit of $103.3 million and ongoing concerns regarding its ability to continue as a going concern over the next twelve months. Management has indicated that achieving its business plan and potentially raising additional financing will be critical for sustaining operations.
Looking ahead, Precipio remains focused on expanding its diagnostic services and improving its product offerings. The company is actively pursuing additional revenue streams and is assessing the impact of recent regulatory changes, including the One Big Beautiful Bill Act of 2025, on its operations. Despite the challenges, the company’s management is optimistic about its strategic initiatives and the potential for continued growth in the cancer diagnostics market.
About Precipio, Inc.
Precipio, Inc. is a healthcare biotechnology company specializing in cancer diagnostics. It develops and commercializes proprietary technologies and products, such as genetic panels and cell culture media, to improve diagnostic accuracy and reduce misdiagnoses in blood-related cancers. Operating CLIA-certified labs, it serves the U.S. oncology market with innovative, cost-effective solutions aimed at enhancing patient outcomes and laboratory efficiency.
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