Precipio, Inc. filed its 10-Q report on May 14, 2025, announcing strong Q1 2025 financial results, including a 43% year-over-year revenue increase. The company also reported improved gross margins and disciplined cost control, with operating expenses as a percent of net revenue dropping from 87% to 61% year-over-year.
The Pathology Services division saw revenue growth of 54% year-over-year and a 46% increase in test volume, with 11 new ordering physicians. A significant milestone was the MolDx approval for NGS testing, which enables Medicare billing and is anticipated to add approximately $250,000 per quarter in increased revenue from current case volumes.
In the Products division, Precipio onboarded one new customer and launched two new panels, with two existing customers beginning validations for four additional panels. The recent reversal of the FDA ruling regarding Laboratory Developed Tests (LDTs) removed a prior barrier, re-engaging prospective customers and is expected to accelerate product revenue growth.
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