PRPO - Earnings call transcript Q1 2021

our Good made XXXX since very our the start call, has afternoon, going thanks you the our and in and thoughts an and QX forward activity QX much. Thank provide a joining progress the shareholder company our for this On XXXX. of call. everyone I'll recap update year on of

Let's start with services. pathology

XXXX We've number XXXX patient X.X of the period XX% cases QX of in an revenue XXXX QX period Following million with increase shows in seen approximately from also the from XXXX in of year, XXXX. revenues to same same received continued increase the approximately X.X the doubling growth in over over million. in the of year previous QX an last in our annual XX%

you give behind those let Now, some me color numbers.

existing of customers several which sales customers new teams, and up of pandemic have to continue Although be policy it certainly create ability maintained by ability our grow proposition the many make the situation to relationships visits regions, and easing deliver challenging a potential to a in to appears regarding allowing customers. to its ones. our context, to to both maintain our our value Within these revenues our testament that to existing is team's continue not new

that are So, like There several what key to to are for today. growth? the you us achieving drivers factors continue I'd this highlight enable

and day. we one we every foremost, the day. our in First our message borrow it by is have have and our against customers. derail survivors, misdiagnosis battle work a to from our why. every we we delivers and Simon have who the believes get customers resonates cancer That talented, its reason people is have that can the team, throughout how sales of up our dedicated that passion cancer. a of patient’s team experienced and team vision for Sinek, This favorite speakers, Among To the is power this my felt tragedy

value Second, proposition. a we have differentiated strongly

in compromising accuracy team other accuracy. results. that field operations and company without a terrific Unfortunately, above our end five the at level mistake] in why have we're results, patients, [or a speed day, other lab focus diagnosis is enables delivering that's us we And accuracy. to for thing price that right. we made XX% – believe of competes labs and we've see cost when is While our matters of patient, on it and our of factors compete only exists. on while that to the for get We cost the one to of our achieved that the and That's approximately the deliver duty lab

of customers best the both So, get worlds. our

for programs them And various create patients. with the with providing that's armed office These aspect physician for is just practice doctor [indiscernible]. Through success our technology we as a offer, provide continued a helps time, a labs, be our revenue success rapid that well profitable all, a diagnosis care of both we better The more factors with drive helped our three we correct are through of improve grow, program value and pathology growth patient the HemeScreen and successful, diagnostic After such business. customers as ultimately our and their new of as turnaround we now the third the will them our care that our are unparalleled of doctor's source. many take [indiscernible]. likely

to loosening states see we pathology our expect see as organic up we to restrictions, forward continue Going revenues. growth in

addition, which will our team, growth. members complementing into new expand intend the grow our team to sales allow add organic of regions, we In to new us and

On of be practices to continue add our product, the to continues program. HemeScreen golden product of our side business, we as one bullet the to

that believe the We end a a component traction seeing of our the margins. are be and will HemeScreen contributor by we of revenue, market and solid year, handsome continue substantial our the to to within

panel, laboratories growth our get customer launch that with base. acute patients the see unparalleled identify HemeScreen testability provides on leukemia to we day, within expect to an our a within recent increased right same for and AML the our With the the of panel organic treatment doctors and

see to interest addition, for customers. In also increased we prospective expect

their broaden attractive our additional expanding and three the of markets HemeScreen with. to the penetration market becomes we lab We're laboratory continue launched complement focusing and proposition. setup grow value within on market segments HemeScreen to to more physician we our a the also As more offering offering,

approximately are the the hospital is U.S. The in first There X,XXX hospitals market.

that Excluding the poor landscape and time hospitals the candidates there's of X,XXX sufficient time in-house, could bring changing that they total resulting both alternative market is estimate the hospitals larger and volume a have to be same may them economic of send we providing and technologies, test hospitals and poor to or no technology in-house. HemeScreen receiving improving that the potential enable hospitals, approximately to and time either even believe laboratory. We Most hospitals not run can using turnaround institutional running turnaround in HemeScreen that smaller out economics. these economics the poor

second segment laboratories. is commercial The large

we've experienced and technology takes deliver presents the timeline a laboratory, to to a segment into believe as introduce it an Although large opportunity that lengthy hurdles, HemeScreen value the incorporate and we challenges, well. to

We well. hope will as laboratories U.S., success of be in we large exploring see market that which approximately comprises and some XX this in field the to

The third segment international markets. is

if and HemeScreen the our U.S. we Now intend offerings the challenges face of that all same laboratories worldwide this potential seen expanding success the the exploring most, begin After face. all, that part we've domestically, latter of internationally. laboratories the in year, of adoption initial to not presumably

due in the As travel more anticipate to with U.S., restrictions the we've exploring we lab. been that COVID to open some bringing outside be own valuable will which contact this technology gradually their of ease, into laboratories

team the work extraordinary the suite expanding offering panels we additional working provide overall continues line. the HemeScreen is one. last to are product, not pipeline product of The HemeScreen of to the but strong on building diseases. Our solutions them strengthening and on each panels, to of additional other it's an And panel R&D products AML of a

HemeScreen we progress we keep market for will the and company. expect will and our updated and have the shareholders We impact our the on make developments these on that

as limited nor belief to finally market, [proposition] technology. us I it it discouraged optimistic in due it's to U.S. on main uphill the the project impossible. them our that those late sale] to combination a the that. is sort is reason process a several but internal to not or hate evaluations always they technologies and gets day-to-day [easy the IV-Cell. as made fruit. a battles an to is nor market issues board. our year evaluating oftentimes pushed turnover. pandemic, take need excuse, exploratory an sales new believe process product of on the a seeing require we've difficult, should. of and Furthermore, sale none on. issue backseat been the new plus as not is overseas, Now means IV-Cell performance due and of The have they with of introduce It environment, lab, bear From we been a value Unfortunately, believe been working This lab the is we've staff to issue. roadblock that this internal to IV-Cell, IV-Cell laboratories We bring last a or these inhibits interaction, extremely bringing staff slow I of the in our of that a reduce potential while normal an sales reality been in of faced the process laboratories year, the but did the we've this focus has until by We will inaccessibility face-to-face shortage and we does some IV-Cell to backburner of issue. in remain the has laboratories the focus some working this many challenges lack operational technology with labs with have either have that that experienced both not and patient pandemic sales within the The is samples the a

but is toughest The the we confident one, sale get I'm there. always that first will

win course to update of our testing. will continue first we We when shareholders our

on [COVID me with we let update an give stand our where Lastly, you products].

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milestone rapid to Amazon. a a retail been the offer overcoming and major in delighted business were of accomplishment getting undertaking platform hurdles. largest we've the Nirmidas’ we And weeks reach However, quite working this approval while. antibody for COVID regulatory a of is by on This a complex to world, couple involves test that ago,

at nice able a to out publicly, and neat]. response. delighted was believe that to market small the must top the company were most for that rated [was of we see among So, strong it we companies. I finally admit, five And certainly to were be I highly day, Connecticut, announce

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I cash. additional revenue are the deliver might our As we're stated difficult at shareholders, company predictable. before, or magnitude our and providing happens whether looking it, nice to in to control bonus this the way initiative a and that to But

may to So, look happen, at a which won’t miss does, doesn't, it we'll not or may which we and as beat. prefer this a if and it if nice celebrate we bonus

of a backlog]. despite year we at As is progress, at will accordingly. continue COVID, [healthy update we In course summary, winds Pathology make growing of shareholders [our business our strong we clip]. have tough a to

traction showing progress IV-Cell, HemeScreen. slow is product but Our with with solid

one profit in the several all continue Rather the feel areas company. than believe the fortunate putting into alternative our And company. we that We invest avenues and these diversifying gross potential basket, highest have I revenue of risk creating in for areas. to we eggs resources for for

managed to our amidst of do diagnosis. cancer remaining Fortunately, true while vision we've battling to that

make very have and the step a your Thank that a I look and I of of evening. support, progress with lots we're to have to you you and great every way. forward think going sharing good for year all

Precipio (PRPO) 21 May 212021 Q1 Earnings call transcript