Precipio Sees Q3 Revenue $4.5M Vs $4M Est.
Portfolio Pulse from Benzinga Newsdesk
Precipio, Inc. (NASDAQ:PRPO) has announced a 28% increase in Q3-2023 revenues to $4.5M, up from $3.5M in Q2-2023, and more than double the $2.2M from Q3-2022. The company attributes this growth to its pathology and products divisions, as well as efficiency and cost reduction initiatives. The company is approaching a $20M run rate and expects its operating cash flow to approach breakeven.
October 18, 2023 | 1:07 pm
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Precipio's Q3-2023 revenues have significantly increased, indicating strong growth in its pathology and products divisions. The company is nearing a $20M run rate and expects to approach breakeven, which could positively impact its stock.
The significant increase in Precipio's Q3-2023 revenues indicates strong performance and growth in its business divisions. The company's expectation to approach breakeven suggests improved financial stability, which could make the stock more attractive to investors, potentially driving its price up in the short term.
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