Precipio, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Precipio, Inc. has filed its Q1 2024 10-Q report detailing financial positions and key dates.</b>

AI Summary

Precipio, Inc. (PRPO) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Precipio, Inc. filed a 10-Q for the period ending March 31, 2024. The filing includes data related to warrant liabilities, common stock, and retained earnings as of March 31, 2024. Key dates mentioned include March 31, 2024, December 31, 2023, and March 31, 2023, for financial reporting. The company's business address is in Omaha, NE, and its mailing address is in New Haven, CT. Precipio, Inc. was formerly known as Transgenomic Inc., with a name change in 2000.

Why It Matters

For investors and stakeholders tracking Precipio, Inc., this filing contains several important signals. This 10-Q filing provides an updated snapshot of Precipio's financial health and equity structure as of the end of the first quarter of 2024. Understanding the details of warrant liabilities, stock components, and retained earnings is crucial for investors assessing the company's valuation and potential dilution.

Risk Assessment

Risk Level: medium — Precipio, Inc. shows moderate risk based on this filing. The company's financial disclosures, particularly regarding warrant liabilities and equity, require careful analysis to understand potential future impacts on share count and valuation.

Analyst Insight

Investors should review the detailed breakdown of equity components and warrant liabilities in the 10-Q to assess potential dilution and financial risk.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-14 — Filing Date (Filed as of date)
• 2023-12-31 — Previous Fiscal Year End (Fiscal year end)
• 2023-03-31 — Prior Year Quarter End (Common stock reporting period)

Key Players & Entities

• Precipio, Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 0001558370-24-008128 (filing_id) — Accession Number
• Omaha, NE (location) — Business address city and state
• New Haven, CT (location) — Mail address city and state
• Transgenomic Inc. (company) — Former company name
• 2000-01-19 (date) — Date of name change

FAQ

Key Dates

• 2024-03-31: Period End Date — Financial reporting period for the 10-Q
• 2024-05-14: Filing Date — Date the 10-Q was officially filed with the SEC
• 2023-12-31: Previous Fiscal Year End — Reference point for annual financial comparisons
• 2023-03-31: Prior Year Quarter End — Reference point for year-over-year quarterly comparisons

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and position during the quarter.)

Warrant Liability

The estimated fair value of outstanding warrants that may require the issuance of stock. (Impacts the company's financial statements and can indicate potential future dilution.)

Common Stock

Represents ownership in a corporation. (A key component of the company's equity structure, important for valuation.)

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share PRPO The Nasdaq

Filing Documents

• prpo-20240331x10q.htm (10-Q) — 1316KB
• prpo-20240331xex31d1.htm (EX-31.1) — 13KB
• prpo-20240331xex31d2.htm (EX-31.2) — 14KB
• prpo-20240331xex32d1.htm (EX-32.1) — 6KB
• prpo-20240331xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-008128.txt (&nbsp;) — 6993KB
• prpo-20240331.xsd (EX-101.SCH) — 52KB
• prpo-20240331_cal.xml (EX-101.CAL) — 58KB
• prpo-20240331_def.xml (EX-101.DEF) — 254KB
• prpo-20240331_lab.xml (EX-101.LAB) — 431KB
• prpo-20240331_pre.xml (EX-101.PRE) — 379KB
• prpo-20240331x10q_htm.xml (XML) — 1218KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31 PART II. Other Information 32 Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2 . Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3 . Defaults Upon Senior Securities 35 Item 4 . Mine Safety Disclosures 35 Item 5 . Other Information 35 Item 6. Exhibits 36

Signatures

Signatures 37 2 Table of Contents PART 1. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements PRECIPIO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share data) (unaudited) March 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash $ 776 $ 1,502 Accounts receivable (net of allowance for credit losses of $ 2,655 and $ 2,572 , respectively) 906 1,301 Inventories 532 384 Other current assets 381 495 Total current assets 2,595 3,682 PROPERTY AND EQUIPMENT, NET 672 739 OTHER ASSETS: Finance lease right-of-use assets, net 156 174 Operating lease right-of-use assets, net 556 612 Intangibles, net 12,581 12,818 Other assets 64 76 Total assets $ 16,624 $ 18,101 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current maturities of long-term debt, less debt issuance costs $ 133 $ 235 Current maturities of finance lease liabilities 62 132 Current maturities of operating lease liabilities 215 218 Accounts payable 905 622 Accrued expenses 1,819 1,824 Deferred revenue 193 110 Total current liabilities 3,327 3,141 LONG TERM LIABILITIES: Long-term debt, less current maturities and debt issuance costs 99 106 Finance lease liabilities, less current maturities 71 18 Operating lease liabilities, less current maturities 353 407 Total liabilities 3,850 3,672 COMMITMENTS AND CONTINGENCIES (Note 5) STOCKHOLDERS' EQUITY: Preferred stock - $ 0.01 par value, 15,000,000 shares authorized at March 31, 2024 and December 31, 2023, 47 shares issued and outstanding at March 31, 2024 and December 31, 2023, liquidation preference of $ 39 at March 31, 2024 — — Common stock, $ 0.01 par value, 150,000,000 shares authorized at March 31, 2024 and December 31, 2023, 1,430,292 and 1,420,125 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 14 14 Additional paid-in capital 112,989 112,565 Accumulated deficit

View Full Filing

View this 10-Q filing on SEC EDGAR