PRPOHIGH SIGNALFINANCIAL10-K

PRPO achieved substantial operational improvements with meaningful reductions in losses and debt reduction of 78%, while revenue grew nearly 30% to $24.0M.

The company has dramatically improved its financial trajectory, with net losses substantially reduced and operating performance meaningfully enhanced. The combination of strong revenue growth, improved profitability metrics, and significant debt reduction suggests PRPO's integrated diagnostic services and product development strategy is gaining traction.

Comparing 2026-03-30 vs 2025-03-27View on EDGAR →
FINANCIAL ANALYSIS

PRPO delivered strong financial performance across key metrics, with revenue growing 30% to $24.0M and gross profit expanding 42% to $10.7M. The company substantially reduced both net losses and operating losses while improving operating cash flow generation. The balance sheet strengthened considerably with cash nearly doubling to $2.7M, debt declining 78% to just $83K, and current assets growing 75%, indicating improved liquidity and reduced financial risk.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+91.5%
-$4.3M→-$363K

Net income grew 91.5% — bottom-line growth signals improving overall business health.

Cash & Equivalents
Balance Sheet
+90.9%
$1.4M→$2.7M

Cash position surged 90.9% — strong cash generation or capital raise providing significant financial cushion.

Total Debt
Balance Sheet
-78.3%
$383K→$83K

Debt reduced 78.3% — deleveraging strengthens balance sheet and reduces financial risk.

Current Assets
Balance Sheet
+75%
$3.5M→$6.0M

Current assets grew 75% — improving short-term liquidity or inventory/receivables build.

Operating Income
P&L
+71.5%
-$4.2M→-$1.2M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Operating Cash Flow
Cash Flow
+56%
$439K→$685K

Operating cash flow surged 56% — exceptional cash generation, highest quality earnings signal.

Capital Expenditure
Cash Flow
+46.2%
$223K→$326K

Capital expenditure jumped 46.2% — major investment cycle underway; assess returns on deployment.

Gross Profit
P&L
+41.6%
$7.6M→$10.7M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Total Liabilities
Balance Sheet
+37.8%
$4.9M→$6.8M

Liabilities grew 37.8% — significant increase in debt or obligations, assess impact on financial flexibility.

Revenue
P&L
+29.8%
$18.5M→$24.0M

Revenue growing 29.8% — solid top-line momentum, watch margins for quality of growth.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-03-27
ADDED
The 2026 Proxy Statement, or an amendment to this Form 10-K, will be filed with the SEC within 120 days after December 31, 2025.
Business We are a healthcare biotechnology company with a mission to battle the systemic problem of disease misdiagnosis, by focusing on improving cancer diagnostics, particularly, hematologic malignancies.
Our objective is to enhance diagnostic accuracy and accessibility while building a sustainable business model that supports ongoing innovation.
We aim to achieve this through a combination of clinical laboratory services and proprietary diagnostic product development.
By integrating diagnostic services with product development, our service business doubles as a self-funded research and development ( R D ) unit, enabling us to achieve rapid and cost-efficient innovation rather than being a major cost center for us.
This unique integrated operating structure is the foundation of our approach to research, development, and product commercialization.
Unlike other companies that rely primarily on stand-alone research facilities or external clinical validation programs, our clinical laboratory operations enables our R D team to evaluate, refine, and validate diagnostic products in the course of routine clinical testing activities, and at incremental cost.
Through these activities, we generate clinical data, operational experience, and specimen access that support ongoing assay development and product improvement.
While these activities are initially conducted to provide diagnostic services to patients and their healthcare providers, they also contribute to product development and validation processes.
Our Structure (Two Divisions): We have a single operating segment but operate two business divisions that are complementary to each other: Pathology Services Division Our pathology services division provides specialized cancer diagnostic testing services to physicians, hospitals, and laboratories.
REMOVED
The 2025 Proxy Statement, or an amendment to this Form 10-K, will be filed with the SEC within 120 days after December 31, 2024.
Business Business Description Precipio, Inc., and its subsidiaries, (collectively, we , us , our , the Company or Precipio ) is a healthcare biotechnology company focused on cancer diagnostics.
Our mission is to address the pervasive problem of cancer misdiagnoses by developing solutions in the form of diagnostic products and services.
Our products and services aim to deliver higher accuracy, improved laboratory workflow, and ultimately better patient outcomes, which reduce healthcare expenses.
We develop innovative technologies in our laboratory where we design, test, validate, and use these products clinically.
We believe these technologies improve diagnostic outcomes across various diseases within the hematologic field.
We then commercialize these technologies as proprietary products that serve the global laboratory community in furtherance of our mission to eliminate or greatly reduce the prevalence of misdiagnoses.
To deliver our strategy, we have structured our organization to develop diagnostic products, including our laboratory and research and development ( R D ) facilities located in New Haven, Connecticut and Omaha, Nebraska, respectively, which house teams that collaborate on the development of new products and services.
We operate Clinical Laboratory Improvement Amendments ( CLIA ) compliant laboratories in both New Haven, Connecticut and Omaha, Nebraska, from which we provide essential blood cancer diagnostics to oncologists nationwide.
To deliver on our strategy of mitigating misdiagnoses, we rely heavily on our CLIA laboratories to support R D beta-testing of the products we develop, in a clinical environment.
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