Precipio Reduces Product Revenue Result Needed For Cash Flow Breakeven From $8M To $6M Annually, Or $1.5M Per Quarter, 25% Below Previous Estimates
Portfolio Pulse from Benzinga Newsdesk
Precipio, Inc. (NASDAQ:PRPO) has announced that it has reduced the revenue required from its products division to reach breakeven from $8M to $6M annually, or $1.5M per quarter, 25% below previous estimates. This is due to increased pathology revenue and recent operational efficiencies. The company anticipates reaching cash flow breakeven sooner due to increased pathology revenues, improved gross margins, and the impact of cost reduction initiatives.
September 25, 2023 | 3:01 pm
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POSITIVE IMPACT
Precipio's announcement of reduced breakeven revenue target due to increased pathology revenue and operational efficiencies is likely to be viewed positively by investors.
The reduction in breakeven revenue target indicates that the company is performing better than previously expected. This is due to increased pathology revenues, improved gross margins, and cost reduction initiatives. These factors are likely to boost investor confidence and could lead to a short-term increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100