Precipio Revenue Jumps 29.8% to Record $24.05M High

Precipio (PRPO) on Tuesday reported its fiscal fourth-quarter financial results, posting a GAAP earnings per share (EPS) loss of $0.23. The company's revenue for the quarter reached $24.05 million, reflecting a significant year-over-year increase of 29.8%. This marks a substantial acceleration from the prior-year period and represents the company's highest quarterly revenue on record. The revenue growth was primarily driven by strong performance across its core diagnostic services and product segments. Management attributed the top-line expansion to increased adoption of its proprietary diagnostic platforms and higher volume in its clinical testing services. The company noted that its H&E (Hematoxylin and Eosin) test volume continued to grow, supported by expanded insurance coverage and new client onboarding. Precipio also highlighted progress in its strategic initiatives, including the launch of new assay offerings and the expansion of its sales force. Looking ahead, the company expressed confidence in its growth trajectory, citing a robust pipeline of new tests and ongoing market penetration efforts. The reported EPS figure includes charges related to stock-based compensation and other non-cash expenses. Precipio's full fiscal year results will be released in a subsequent filing. Shares of Precipio were last trading down approximately 2% in after-hours session following the announcement.