Revenue growth remains inconsistent, with 2025Q3 showing an 18.3% year-over-year increase, while gross margins continue to fluctuate significantly between 26.8% and 50.4% over the last ten quarters.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Sales/Revenue | 21.52M | 15.96M | 15.2M | 9.41M | 8.85M | 6.09M | 3.13M | 2.86M | 1.72M | 1.56M | 1.65M | 27.08M | 27.54M | 31.48M | 31.97M | 20.05M | 22.02M | 23.99M | 23.18M | 23.41M | 25.83M | 33.79M | 33.87M | 37.55M | 38.47M | 25.88M | 23.03M |
| Revenue Growth % | 23.63% | 5.05% | 61.46% | 6.36% | 45.26% | 94.82% | 9.18% | 66.22% | 10.66% | -5.81% | -93.9% | -1.67% | -12.5% | -1.54% | 59.47% | -8.97% | -8.21% | 3.53% | -1.02% | -9.34% | -23.56% | -0.23% | -9.82% | -2.37% | 48.62% | 12.36% | - |
| Cost of Goods Sold | 11.3M | 8.41M | 9.18M | 6.9M | 6.46M | 4.94M | 2.91M | 2.64M | 1.43M | 1.76M | 1.94M | 17.36M | 15.05M | 16.47M | 13.53M | 10.28M | 10.42M | 10.35M | 10.48M | 12.05M | 13.5M | 24.6M | 24.32M | 19.57M | 17.2M | 10.89M | 10.58M |
| COGS % of Revenue | - | 52.65% | 60.4% | 73.33% | 72.97% | 81.12% | 93% | 92.14% | 83.05% | 113.17% | 117.36% | 64.11% | 54.63% | 52.32% | 42.33% | 51.3% | 47.31% | 43.12% | 45.23% | 51.45% | 52.26% | 72.79% | 71.8% | 52.11% | 44.71% | 42.08% | 45.91% |
| Gross Profit | 10.22M | 7.56M | 6.02M | 2.51M | 2.39M | 1.15M | 219K | 225K | 292K | -205K | -287K | 9.72M | 12.5M | 15.01M | 18.44M | 9.76M | 11.61M | 13.65M | 12.69M | 11.37M | 12.33M | 9.19M | 9.55M | 17.98M | 21.27M | 14.99M | 12.46M |
| Gross Margin % | 47.48% | 47.35% | 39.6% | 26.67% | 27.03% | 18.88% | 7% | 7.86% | 16.95% | -13.17% | -17.36% | 35.89% | 45.37% | 47.68% | 57.67% | 48.7% | 52.69% | 56.88% | 54.77% | 48.55% | 47.74% | 27.21% | 28.2% | 47.89% | 55.29% | 57.92% | 54.09% |
| Gross Profit Growth % | - | 25.61% | 139.76% | 4.93% | 108% | 425.11% | -2.67% | -22.95% | 242.44% | 28.57% | -102.95% | -22.21% | -16.75% | -18.59% | 88.83% | -15.86% | -14.97% | 7.52% | 11.65% | -7.8% | 34.13% | -3.75% | -46.89% | -15.44% | 41.88% | 20.32% | - |
| Operating Expenses | 12.3M | 11.78M | 13.64M | 15.31M | 12.01M | 10.3M | 11.21M | 9.45M | 6.49M | 7.61M | 8.91M | 27.04M | 28.25M | 24.51M | 21.37M | 13.24M | 13.5M | 13.26M | 14.5M | 14.5M | 14.84M | 34.68M | 31.4M | 36.4M | 31.01M | 24.47M | 19.34M |
| OpEx % of Revenue | - | 73.76% | 89.74% | 162.63% | 135.66% | 169.01% | 358.59% | 330.03% | 376.55% | 489.02% | 538.9% | 99.85% | 102.58% | 77.87% | 66.84% | 66.03% | 61.3% | 55.27% | 62.56% | 61.93% | 57.46% | 102.65% | 92.72% | 96.93% | 80.61% | 94.53% | 83.97% |
| Selling, General & Admin | 2.19M | 11.78M | 13.64M | 13.61M | 10.71M | 10.3M | 9.62M | 9.45M | 6.49M | 6.19M | 7.05M | 24.15M | 25.04M | 22.02M | 19.15M | 10.93M | 10.32M | 10.79M | 11.47M | 12.14M | 12.22M | 17.5M | 17.32M | 24.2M | 21.64M | 14.91M | 11.53M |
| SG&A % of Revenue | - | 73.76% | 89.74% | 144.57% | 120.97% | 169.01% | 307.74% | 330.03% | 376.55% | 397.69% | 426.8% | 89.16% | 90.92% | 69.96% | 59.9% | 54.53% | 46.86% | 44.99% | 49.47% | 51.84% | 47.31% | 51.79% | 51.15% | 64.44% | 56.25% | 57.6% | 50.06% |
| Research & Development | 2.3M | 2.3M | 2.7M | 1.7M | 1.3M | 2.2M | 2.79M | 1.1M | 500K | 1.42M | 1.85M | 2.9M | 3.21M | 2.49M | 2.22M | 2.31M | 3.18M | 2.46M | 3.03M | 2.36M | 2.2M | 6.68M | 9.3M | 12.2M | 9.37M | 7.65M | 6.3M |
| R&D % of Revenue | - | 14.41% | 17.77% | 18.06% | 14.69% | 36.11% | 89.22% | 38.41% | 29.02% | 91.33% | 112.1% | 10.7% | 11.66% | 7.91% | 6.94% | 11.5% | 14.45% | 10.27% | 13.09% | 10.09% | 8.51% | 19.78% | 27.48% | 32.49% | 24.36% | 29.56% | 27.34% |
| Other Operating Expenses | 2M | -2.3M | -2.7M | 0 | 0 | -2.2M | -1.2M | -1.33M | 877K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 425K | 10.5M | 4.77M | 0 | 0 | 1.91M | 1.51M |
| Operating Income | -2.08M | -4.22M | -7.62M | -12.8M | -9.61M | -9.15M | -10.99M | -13.91M | -15.51M | -7.82M | -9.2M | -17.32M | -15.76M | -9.5M | -2.97M | -3.61M | -1.9M | -368K | -3.32M | -3.13M | -2.51M | -29.06M | -22.59M | -21.7M | -9.74M | -9.48M | -6.88M |
| Operating Margin % | -9.66% | -26.41% | -50.14% | -135.96% | -108.63% | -150.13% | -351.58% | -485.75% | -900.23% | -502.18% | -556.26% | -63.96% | -57.21% | -30.19% | -9.3% | -18.02% | -8.61% | -1.53% | -14.33% | -13.37% | -9.72% | -86% | -66.7% | -57.78% | -25.32% | -36.61% | -29.88% |
| Operating Income Growth % | - | 44.67% | 40.45% | -33.12% | -5.11% | 16.81% | 20.97% | 10.31% | -98.38% | 14.96% | 46.92% | -9.92% | -65.81% | -219.78% | 17.72% | -90.51% | -415.22% | 88.92% | -6.1% | -24.69% | 91.36% | -28.65% | -4.11% | -122.78% | -2.76% | -37.67% | - |
| EBITDA | -549K | -2.7M | -6.31M | -11.28M | -8.17M | -8M | -9.81M | -12.65M | -14.77M | -7.71M | -8.71M | -15.07M | -13.01M | -7.23M | -871K | -2.9M | -1.04M | 514K | -2.37M | -1.18M | 1.77M | -25.05M | -13.84M | -17.7M | -6.06M | -7.57M | -5.37M |
| EBITDA Margin % | -2.55% | -16.93% | -41.53% | -119.82% | -92.32% | -131.37% | -313.82% | -441.59% | -857.11% | -494.99% | -526.68% | -55.66% | -47.24% | -22.95% | -2.72% | -14.49% | -4.73% | 2.14% | -10.23% | -5.05% | 6.86% | -74.14% | -40.85% | -47.14% | -15.75% | -29.24% | -23.31% |
| EBITDA Growth % | 83.39% | 57.18% | 44.03% | -38.05% | -2.07% | 18.44% | 22.41% | 14.36% | -91.62% | 11.47% | 42.24% | -15.86% | -80.06% | -729.62% | 70.01% | -178.96% | -302.53% | 121.67% | -100.68% | -166.7% | 107.07% | -81.07% | 21.85% | -192.19% | 19.95% | -40.97% | - |
| D&A (Non-Cash Add-back) | 1.53M | 1.51M | 1.31M | 1.52M | 1.44M | 1.14M | 1.18M | 1.26M | 743K | 112K | 489K | 2.25M | 2.75M | 2.28M | 2.1M | 708K | 855K | 882K | 950K | 1.95M | 4.28M | 4.01M | 8.75M | 3.99M | 3.68M | 1.91M | 1.51M |
| EBIT | -1.17M | -4.22M | -7.62M | -12.17M | -8.5M | -9.15M | -9.4M | -9.23M | -6.2M | -1.71M | -9.14M | -10.57M | -15.4M | -7.29M | -2.93M | -2.98M | -1.9M | 388K | -1.81M | -3.13M | -2.51M | -7.22M | -8.75M | -18.41M | -9.74M | -9.48M | -6.88M |
| Net Interest Income | -86K | -74K | -18K | -12K | -20K | -470K | -473K | -1.6M | -2.32M | -518K | -724K | -665K | -642K | -888K | -958K | -4K | 15K | 74K | 270K | 205K | -1.98M | -2.38M | -155K | 564K | 2.39M | 226K | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15K | 74K | 270K | 216K | 0 | 0 | 160K | 626K | 2.45M | 2M | 0 |
| Interest Expense | 86K | 74K | 18K | 12K | 20K | 470K | 473K | 1.6M | 2.32M | 518K | 724K | 665K | 642K | 888K | 958K | 4K | 0 | 0 | 0 | 11K | 1.98M | 2.38M | 315K | 62K | 58K | 1.78M | 0 |
| Other Income/Expense | 826K | -74K | 1.77M | 619K | 1.1M | -1.45M | -2.32M | -2.06M | -5.18M | -515K | -1.22M | 3.9M | -282K | 1.32M | -6.76M | 628K | 18K | 86K | 243K | 198K | -2.45M | -5.26M | -5.82M | -2.98M | 2.36M | 996K | -1.2M |
| Pretax Income | -1.25M | -4.29M | -5.85M | -12.18M | -8.52M | -10.6M | -13.31M | -15.97M | -20.69M | -8.27M | -10.14M | -13.42M | -16.04M | -8.18M | -9.74M | -2.98M | -1.88M | -282K | -1.93M | -2.93M | -4.96M | -34.47M | -22.89M | -21.26M | -7.38M | -8.48M | -8.08M |
| Pretax Margin % | -5.83% | -26.87% | -38.51% | -129.39% | -96.25% | -173.97% | -425.74% | -557.72% | -1201.04% | -531.09% | -613.31% | -49.54% | -58.24% | -25.99% | -30.46% | -14.88% | -8.53% | -1.18% | -8.33% | -12.53% | -19.2% | -102% | -67.6% | -56.61% | -19.18% | -32.77% | -35.08% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | -70K | -279K | 0 | -203K | 23.76M | 524K | -54K | 146K | 45K | 150K | 42K | 213K | 243K | 30K | 26K | -94K | 65K | 105K | 24K | 180K | 1.75M |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0.53% | 1.75% | 0% | 2.45% | -234.36% | -3.91% | 0.34% | -1.78% | -0.46% | -5.03% | -2.24% | -75.53% | -12.58% | -1.02% | -0.52% | 0.27% | -0.28% | -0.49% | -0.33% | -2.12% | -21.6% |
| Net Income | -1.25M | -4.29M | -5.85M | -12.2M | -8.55M | -10.63M | -13.24M | -15.69M | -20.69M | -7.62M | -32.95M | -13.94M | -15.99M | -8.33M | -9.78M | -3.13M | -1.92M | -495K | -2.11M | -3.43M | -14.99M | -34.37M | -22.96M | -21.36M | -7.4M | -8.66M | -9.83M |
| Net Margin % | -5.83% | -26.87% | -38.51% | -129.65% | -96.62% | -174.41% | -423.5% | -547.97% | -1201.04% | -489.15% | -1993.59% | -51.48% | -58.04% | -26.45% | -30.6% | -15.63% | -8.72% | -2.06% | -9.09% | -14.65% | -58.05% | -101.73% | -67.79% | -56.89% | -19.24% | -33.46% | -42.66% |
| Net Income Growth % | 58.2% | 26.7% | 52.04% | -42.73% | 19.53% | 19.77% | 15.62% | 24.16% | -171.72% | 76.89% | -136.36% | 12.79% | -91.99% | 14.87% | -212.13% | -63.23% | -287.88% | 76.51% | 38.59% | 77.12% | 56.38% | -49.72% | -7.46% | -188.68% | 14.55% | 11.86% | - |
| Net Income (Continuing) | -1.25M | -4.29M | -5.85M | -12.18M | -8.52M | -10.6M | -13.24M | -15.69M | -20.69M | -2.23M | -9.86M | -13.94M | -15.99M | -8.33M | -9.78M | -3.13M | -1.92M | -495K | -2.17M | -2.96M | -4.98M | -13.75M | -9.51M | -21.36M | -7.4M | -8.66M | -9.83M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 65K | 40K | 27K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.77 | -2.93 | -4.51 | -10.73 | -8.10 | -14.84 | -46.51 | -217.80 | -1338.20 | -580.93 | -870.12 | -837.26 | -990.09 | -646.66 | -1070.24 | -343.68 | -210.78 | -54.34 | -231.31 | -376.70 | -2268.92 | -6399.55 | -5063.52 | -4892.37 | -1771.85 | -2812.93 | -4082.63 |
| EPS Growth % | 59.04% | 35.03% | 57.97% | -32.47% | 45.42% | 68.09% | 78.65% | 83.72% | -130.35% | 33.24% | -3.92% | 15.44% | -53.11% | 39.58% | -211.41% | -63.05% | -287.89% | 76.51% | 38.6% | 83.4% | 64.55% | -26.39% | -3.5% | -176.12% | 37.01% | 31.1% | - |
| EPS (Basic) | - | -2.93 | -4.51 | -10.73 | -8.10 | -14.84 | -46.51 | -217.81 | -1338.20 | -580.93 | -870.12 | -837.26 | -990.09 | -646.66 | -1070.24 | -343.68 | -210.78 | -54.34 | -231.31 | -376.70 | -2268.92 | -6399.55 | -5063.52 | -4892.37 | -1771.85 | -2812.93 | -4082.63 |
| Diluted Shares Outstanding | 1.64M | 1.47M | 1.3M | 1.14M | 1.05M | 823.85K | 284.76K | 72.06K | 15.46K | 48 | 1.37K | 0 | 0 | 643 | 457 | 456 | 455 | 455 | 455 | 455 | 330 | 269 | 4.53K | 4.37K | 4.18K | 3.08K | 2.41K |
| Basic Shares Outstanding | 1.64M | 1.47M | 1.3M | 1.14M | 1.05M | 823.85K | 284.76K | 72.06K | 15.46K | 48 | 1.37K | 0 | 0 | 643 | 457 | 456 | 455 | 455 | 455 | 455 | 330 | 269 | 4.53K | 4.37K | 4.18K | 3.08K | 2.41K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and dilution risk
According to the provided quarterly income statements, Precipio's revenue growth has fluctuated significantly, with the most recent 2025Q3 period showing an 18.3% year-over-year increase, yet the lack of a sustained upward trajectory suggests challenges in scaling the HemeScreen platform adoption across the broader diagnostic market.
The volatility in quarterly revenue growth indicates that the company's transition toward a product-heavy model remains inconsistent. Investors should monitor whether the current growth rate can stabilize, as the firm relies on recurring reagent sales to offset the inherent lumpiness of its diagnostic service business.
As reported in financial statements, Precipio's gross margin has fluctuated between 26.8% and 50.4% over the last ten quarters, reflecting the inherent difficulty in maintaining consistent pricing power while managing the specialized costs associated with its proprietary diagnostic reagent kits and laboratory service infrastructure.
The inability to maintain a stable gross margin suggests that the company's unit economics are highly sensitive to shifts in product mix and potential reimbursement pressures. This variability complicates the path to sustainable profitability, as the firm must achieve higher scale to absorb its fixed laboratory overhead.
Based on Precipio's reported figures, the company has struggled to achieve meaningful operating leverage, as evidenced by persistent operating losses that frequently track closely with gross profit levels, indicating that corporate overhead and R&D expenses continue to outpace the firm's ability to generate scalable diagnostic revenue.
The company's operating margin remains deeply negative, suggesting that the current cost structure is not yet optimized for the existing revenue base. Without a significant inflection in top-line growth, the firm may continue to face difficulty in achieving the economies of scale necessary to reach break-even.
Analysis of the income statement reveals that reported net income is frequently impacted by non-operating items and significant stock-based compensation, which, as noted in recent filings, reached $449,000 in 2025Q2, potentially masking the underlying cash burn and the true operational performance of the diagnostic business.
The reliance on equity-based compensation and the presence of irregular net income swings suggest that investors should focus on cash-based metrics rather than headline EPS. The frequent adjustments and non-cash charges warrant further investigation into the sustainability of the company's current operating model.
Short-sellers would likely focus on the company's precarious cash position of $1.389 million, which, when viewed against the backdrop of consistent operating losses, suggests that the current business model may be unsustainable without further dilutive financing or a rapid, unproven pivot to high-margin product sales.
The persistent negative operating margins and limited liquidity create a high-risk profile that may necessitate additional capital raises. Investors should remain cautious, as the company's ability to fund its operations remains contingent on market conditions that are currently unfavorable for micro-cap diagnostic firms.
Quick answers to the most common questions about buying PRPO stock.
For fiscal year 2024, Precipio, Inc. (PRPO) reported total revenue of $16.0M. This represents a 30.7% decline compared to $23.0M in 1999.
Precipio, Inc. (PRPO) reported a net loss of $4.3M for the fiscal year ending 2024.
Precipio, Inc. (PRPO) reported an operating income of $-4.2M, resulting in an operating profit margin of -26.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Precipio, Inc. (PRPO) generated $7.6M in gross profit for the year, representing a gross profit margin of 47.3%. This demonstrates the company's core pricing power and production efficiency.