Earnings Labs

Precipio, Inc. (PRPO)

Q1 2020 Earnings Call· Tue, May 19, 2020

$31.65

+3.09%

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Same-Day

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1 Week

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1 Month

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Transcript

Operator

Operator

Good day and welcome to the Precipio Quarterly Shareholder Update Call. All participants will be in a listen-only mode. [Operator Instructions] Please note that the conference is being recorded. [Operator instructions] Please note that the conference is being recorded. Statements made during this call contain forward-looking statements about our business. You should not place undue reliance on forward-looking statements as these statements are based upon our current expectations, forecasts and assumptions and are subject to significant risks and uncertainties. These statements may be identified by words such as may, will, should, could, expect, intend, plan, anticipate, believe, estimate, predict, potential, forecast, continue or the negative of these terms or other words or terms of similar meaning. Risks and uncertainties that could cause our actual results to differ materially from those set forth in any forward-looking statements include that are not limited to the matters listed under Risk Factors in our annual report on Form 10-K for the year ended December 31, 2019, which is on file with the Securities and Exchange Commission as well as other risks detailed in our subsequent filings with the Securities and Exchange Commission. These reports are available at www.sec.gov. Statements and information including forward-looking statements speak only to the date they are provided unless an earlier date is indicated and we do not undertake any obligation to publicly update any statements or information, including forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. Now let me hand the call over to Ilan Danieli, Precipio's CEO.

Ilan Danieli

Analyst

Thank you, and good afternoon, everyone. I would like to thank you all for taking us on today's call and also thank those who emailed their questions in advance. On today's call I'd like to share some insights on our Q1 results and some of the business economics around them. I'd also like to discuss the metrics recently released what we can learn about our business. I'll also be discussing the product side of the business and where we see it going, but first I'd like to provided an update on our company situation during the COVID19 period and particularly as it impacts our pathology services side of the business. I'll this begin with the customer and business side and then I'd like to take a few moments to discuss a few operational perspectives. Our customers are probably [ph] who test their patients for the possible presence of cancer. During the COVID19 days, hospitals have shifted their focus to COVID patients while any non-urgent patients are asked to delay their visits. In the oncology office settings, physician offices have also scaled down their business with any non-critical patients asked to stay at home. Many of these cancer patients are dealing with immune deficiencies, old age or both which face them at high risk of COVID and subsequently they elect to stay at home. Although as one of our client said, cancer doesn’t stop for anything. this has caused a drop in volume for the overall industry. However, we've been very fortunate to see continued growth in our business which given the circumstances is quite unusual. Q1 saw revenues grow 77% and we continue to grow with April as our strongest month in company history. The reason for this was the ultra-metric transaction which where we absorbed another company feedback [ph]…