PRPO Precipio

Ilan Danieli CEO
Call transcript
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Welcome to the Precipio Shareholder -- Third Quarter 2021 Shareholder Update Conference Call. All participants will be in listen-only mode. [Operator Instructions]. Please note that the conference is being recorded. Statements made during this call may contain forward-looking statements about our business. risks undue upon forward-looking and our are to place statements as assumptions, not subject based are current significant should reliance statements on these and We uncertainties. and expectations, forecasts, could, or be or may terms other estimate, such will, anticipate, by These of expect, forecast, these statements plan, continue, identified intend, potential, words meaning. negative as of words may, similar should, the predict, or believe, terms in in could that matters from cause our forward-looking to are results on but for materially the Securities forth subsequent Exchange XX-K Factors and XXXX, the filings listed in the Commission. December XX, uncertainties and actual those our Securities differ not set annual which detailed is and any Exchange Risk Commission, Form to as our include, year statements file well report Risks limited with under the with on as ended risks other available These are at reports speak otherwise, unless indicated that forward-looking information, date information, only events including statements including the information, or do we required forward-looking publicly and earlier law. and an obligation by update not undertake any or whether of a statements, new Statements as result to to future as any provided except date statements, are they is

to Now, CEO. let Ilan the me hand over call Precipio's Danieli,

Ilan Danieli

the thank Thank you give an XXXX And Grant. quarter. goal you, Good our call afternoon, how is to insight experienced you QX on we joining for recent everyone. shareholder to this call. My as

some last the into see are And We how in read you financial were what you insight future. week. that our to give statements filed we

they've we several rough a quarter, dealt we experienced me Let saying start with and them them. by challenges, overcome had we

I cause. the determination to their out they and passion, challenges, quarter commitment succeed. stronger, business. to start more And our we're dedication with this of With coming and seeing to believe these

share going and exciting Let to by of forward. our outlook for company me some then our business an the providing you with each begin segments, insight of

services. our clinical Let's pathology start with

first quarter prior the the was we quarter saw didn't experience growth where This we quarters. in

audited revenues nine XX% For the accomplishment. great. months increased have million, revenues from ending not $X.X volume And or a in case $X.X to of flat, relatively That's were great XXXX. XXXX, year-over-year, XX, QX, our and September million

situation, supply we depend us chain as complex on envision services, could deal issues, to with driver service problem. ultimately single which into several customers. in Like challenges of our unreliable any one which to operational companies cause lab customers. internal globe, have translated in and that is be there resulted The courier issues, issues we rarely sole As many around the identified too losing a

Fortunately, them of the losing a large it declined. none previously. achieving growth customer. us. revenue our demonstrated not resulted And nonetheless, nobody we've enough in not us likes But Certainly that

issues issues is we So ensure patient mission which have in with mind, to and operational customers providing the mind, in to pleased accustomed been stepped most With in care, with hard in the resolved. issues. team we foremost up. role resolve first work our QX, to. to hard our diagnosis providing report to I'm proper Today, alongside they become the worked address service that those our And our the accurate

going process of hard and these our are work to challenges rather teams in everything to not but the I way believe on In when challenges fix I management are head produce smoothly, to greater starting arise. is measured steps them. proud problems was when which addressed. are the And we've that these our company's and revamped embrace watch addition, step together sales results. up, team

team nothing cannot Our team overcome. this just that knew we performed that as what is outstandingly a again already proves we once there

successful quarter this business, the quarter of side for trial. product the was On a speedy

by onboard. to we customer Today, in announced This and bringing strategic our oncology helping AON to the a Partner was outside at training the AON, customer successful AON to great did job to the a AON the our practice this agreement us a with August, work for them I'm of team, HemeScreen. large close lab launch. last We with that team table deal. Solutions. the introduced an and signed ensure previously with account As conducted to largest We we to and made live onboarding. as announce smooth sure was on and went pleased week, boarded

like new in team's dedication a with example you there bumps customer like onboarding could when our process I'd along the to small products, of any be to our Now, way. share success.

they're the shipment reagents remain and And shipped XXXs of the of arrive on of AON so XXXXs reagents in worth they the are ice customer placed customer's at safely is dry dollars. that can freezer. Our to until frozen site

with several to mishaps the our pathology car the going on our shipment side, services a we reagent FedEx risk the of to distance. give very Given largest it enough Driving by take weren't to customer. isn't first

volunteered graciously and a with doctor the luggage, fly reagent deliver to to his and So them customer. personally one our down managers of

grow running and and with full to expected laboratory a very approximately Now profitability. this our also not continued business. revenue very either Without of job this industry. experienced done. our are sound or by XX%. actively AON on business AON of with out fired burn in And expected a visible our occasion this at will reduce reagents own, that big cash impact Once good, side, the And a may numerous our got vendors well in significant and part major sizable hesitation, but we're margins not onboard with not impact This is that is on temperature revenue is our typical working members receiving the Precipio. deal, is to gross like team customer. our customers customer is to to from and rose theme its other other

the requires hands together still kind to really reality know process I hasn't there limited work haven't this been the we IV-Cell record. the or pathology in-person today, the HemeScreen allow and while a With site. client where on our until business concept present we're discussed IV-Cell, Unlike Now with onboard at services, of onboarding able customers. a to for is we're access and

laboratories due Given I to pleased anticipate possible. company. that still We with up that is the re-organizing starting have and accounts. I'm And worldwide we've have to organizational we say making the technology, divisions. in customers fact, IV-Cell early And groundbreaking From disarray said in not ongoing to perspective, several will this really other that given the good progress Having wasn't we day. an will laboratory this two our year. to next we win care and year, impact COVID, in I hope of are see some and news technology. we believe will then persistence, With next we're laboratories ultimately every from that benefit our process of patient a

our has first This The diagnostic services two is sales and division, includes which division our clinical purposes. pathology lab operations. our team

businesses. to remain academic who an is this on our mission the pathologists, diagnosis. accuracy care. the are to we our quality our our we the is to company, as core foremost continue and This and with first unparalleled heart patient that deliver of level and From always of a of demonstrate The processes will and battle proprietary to problem expert technologies impact

technologies and clinical second born improve laboratories Both new IV-Cell the purpose Therefore, in develop better our and patient breeding ground identify, results operate, desire our the to efficiencies of One technology. is these to is HemeScreen provide deficiencies operational for were the of and identification our for The to way serves continuing a this to provide our in is And and laboratory to out and examine a to provide purpose. division support team care. of dual customers. clinical second R&D laboratories.

primary product such that be for as The second is the the others due HemeScreen will these technologies This division division R&D several is division. factors. engine and forward company include and going profitability the be to our We to IV-Cell division to and team, growth going commercial bringing products that diagnostics this market. believe arm will contributor and the our

especially relatively technical support is sales competing From not it's at this the Once perspective, market. unseat our difficult this our superior means decisions off, products onboarded make when a to our repeatedly to minimal is and lab the company's BXB validated effort require. recurring that and with to the stream First customer incumbent, does technology require product, to our use is product. the the revenue business

strategy. technologies is highly scalable been against of we this a disappointed doubling few the next this do in tools a business diagnostic moments of our price and patients. also disciplined have factors news. production well our gross already needs, as you to to Spending new, invest margin business. facilities these visualize impact intention last higher diagnosis, decline support and I up for and produce. discuss this core to our operational portfolio market the continue our margins currently pipeline customers, to a profitability. bring many economics R&D of take It it and have economic, Second, IR to the than products benefits we've is ensure the evaluate the exciting volume but And quarter, clinically revenues, of as a our of highest in accuracy the process lastly, our of recently scale that I provide to knowledge and technologies impactful new $XX,XXX, to build can product. better methodical a All with share less and the full With produce I want to company's to level mission to on is eradicating XXx providing year, can of product over know the more a of up lack the products. market set and direct and

going see So the hopefully we've mirror in tremendous activity these of the made neither progress. then can company on by and that you actual

past, the huge game return have good communication for institutional success. how strides our the of our the quickly. we let the focus. to outside for as benefit towards good the is As making This moves institution speak up in our your relatively world In need less And stock sometimes, its the for company, head insiders, all seeing nor a to can investors. previous that there's shareholders. its to not results and the just that is existing press is you this work to result we've releases focus position on hunker seen make in third not the volatility we down, itself. keep advancing way and But And just of and company

As our support growth institutional transition large can and and ensures the to company the to stability, in of our which That the continuous long-term micro-cap company share addition from company price, course, performance, attract a to more grows, investors. the mature with that ongoing of the not is of share company earn a the long-term, that goal of and shared previously, share volatility could and if that that our argue even accomplishments, our course for hopefully the more see price would that's price and reflection I true. results to reduce was shareholders. a we've you today, of value

significant for points The Let company me XX increased XX% becoming financial direction measures, days. important. give of they're a company demonstrate improvements XX% same in $X.X that, ended few our $X.XX, that year. reported which million In a XXXX, period challenging summary, gross sales you of period $X.X right of and accounts around for financial from as above XX from that the a had to significant in high to There on doubtful overcame. impact improvements investors a continuous the All improvement a quarter a in same DSO, at margins by just million months as of below company million September gross have we XX% its increased is some as last reported days days the financial to performance. for look XXX outstanding XX% profit institutional nine that other in to and the for These audited XXXX. us. the those has and Allowance XX% to has demonstrate both are dropped way $X.X substantial anecdotal also we well the to of cash revenues below or metrics support are

to the from be our a stronger, and this resilient, improvement we proud them benefit to for they team business are the ongoing part business. dedication the is as We commitment we translate as I'm our overcome experienced learning of these and challenges. support and more the team will

our for is shareholders. financial goal problems see shareholder and into value you, currently Our changes

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We when holiday working will season. to I I that be and with the share that I'm to the shareholders eagerly those could remain on awaiting while have to amazing and all With those you the year. you share us accuracy that, We'll for deliver and you we're and wish great goal. happy to ones of I some a our that community. concepts a provide you who their wish our enable want you you require committed shareholders, moment families to part as to have your our loved support. And quality that we're know your always you Thank rely see mission, on next and our on services never and to evening.


attending presentation. Thank you concluded. now conference The for has today's

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