PRPO - Earnings call transcript Q2 2021

what and Thank our of activity XXXX everyone very future this you year much. our for provide Good some end. holds now a recap through this into thanks QX call, insights joining for the afternoon us shareholder and I'll call. from On quarter

Let's start pathology services. with

of QX year. with an and XX% our results, continue grow services mostly from this XX% to revenue from year-over-year saw reported pathology of As QX we our increase from you increase to

factors. from to two revenue grow due reported pathology to Our continued key

organic growth increased new first business from was and our existing customers. The customers the of

collection say quite depends the collections, carriers, to often our allowance this and factor contracts improve within from services is doubtful rate cash processes, bottom least. and improved internal collection This on pathology coming reduces we've years range payers to XX% reported now gradually course into our the second only has XXs was the billable the a not reimbursement for the ago from of but on and XX% accounts. to revenue, alongside improvement revenue. Cash approaching line. increase which battle in our to direct impact on The managed To the insurance

as to pathology sales a challenging reopened markets This short more to new for industry entire are as to of good even on maintain team it well shutdowns. and a challenge with continued current existing facing. is challenges our relationship time, this return a face for Our restrictions call team makes period now sales news to the relationships facing build that that The or customers is our is for customers. a

rise tide together. to all a it's ships causes that So

With the its a academic and our hit the year. growth of to in rate be million we company. revenues end to an for unique a With technologies, which includes have $XX milestone of HemeScreen, accuracy, advantage competition. addition expected value still growth our our the dedication toolkit, in for revenues expect run team to will of pathology exciting diagnostic we the specialized expertise, has that by proposition the we believe the over significant our of This proprietary incorporation

Turning our to of now product the business. side

we've contributor accurate than in can AON and of tell We patient product HemeScreen as through with such paving providing leading is team, patient's industry to impact of our The to technology knowing and care. year. AON our I is develop, commence as now As will more market my then will ongoing that a by our QX this rewarding nothing release, to R&D ultimately the as life. you recognition from anticipate that product and hard press way acceptance patient company's operations and that treatment diagnosis which today's worked services earlier on there significant that of impacts interaction saw growth. you serves a Precipio’s a revenues players, in

this by hundred our the work expected other company. recognition AON and though continued growth still market of per lead market will to and in dollars year. players to HemeScreen business and the projects We analysis, On approach adoption of process, in our a market several U.S. million

customers quarter, support resources provide product we so As proper a Precipio we support continued they of can the we real-time company. growth onboard offering, to personnel on product additional the HemeScreen their customers. team our enables effect provide the and tests. operational run support has Ensuring hired to established as that our the necessary our expected by expand in-lab our our ripple Last

Performing laboratory staff. rigor and and team supporting a discipline, technical for product are that geared we requires that from support. services We great difference HemeScreen molecular purchases outside of As ordering, ease and and be and real-time expertise the and highest support systems top as infrastructure reagents regulatory that average of technical the the able includes of at as tests support, level achieve services well between similar Precipio know to through level, drugs. To vendors, deliver importance we're our standard level provide up to service. the support to our service and recognize of information portal this positioning product gold tech and HemeScreen needed

forward, production year. to well product team have as our planning ensuring the management, also its customers produced, of in that a production facility experienced HemeScreen run by the products days inventory quality as deliver consistency create access to Going quality a we're to an XXX

one be future. foreseeable company We expect that the key will focal for of our point HemeScreen

an receive of equipment performance. believe and lease. income, And at source -- the customers service building will often could reagents of product ability commitment that to company new agreement the as customer them. enables office our with from additional to our business thus their physician stream critical This will agreement with Reagent trickles for be down more to and while care increased providing of Practices contractual and the see customers, revenue a We contractual serves as on financial includes a service. each company's part growth patient the the potentially and patients stability physicians overall block. to Rental payments with the that as the into they their an HemeScreen growth performing group, demand added The utilization this and HemeScreen recurring the a organic enhance HemeScreen impact additional customer grow while provides this quality also add their increase. revenue Beyond of four-year of clinical monthly grow,

each to as the the existing the is work base a product introduced build continues Finally, HemeScreen leadership new panel attractive team creating to as new HemeScreen. best such R&D our of factors to panels, when growth for possible These our business customer of base for company, market rapidly on create further customer and model very should developing launch establish revenues.

concentrate Number production continue to two both we one, see the our forward, customers. develop sides fulfillment HemeScreen. clinical to and our between maintain Maintaining Precipio on lab our our particularly product. for HemeScreen our lab development lab on of and such our summary, quality research with high enable to to caliber relationship following. management broaden cross continue will our as Number to services plan resources two we services expertise our serve inventory of business the and is to focus our our to grow the lastly, the In and three, expertise product, Going for and pollination assess businesses, offering. leverage pathology customers. continue pathology Number clinical commercial a long-lasting diagnostic to

our We mission. have experienced in the our today's resources facilities the to call like invest execute I'd end to building and our story with we a to both in on company. that technology team recently

is interact against by much although in behind ourselves diagnosing the our to the birthday, we focused it experienced XXth lab, impacted tissue a we believe. and week, from we we slides. patient week chance critical That's their on with moment In receive and samples our oncologist. scenes invisible battle which their pride. As to to pathology Precipio's ago, with and who hard the work the cancer with by we that. we very is A get and But last do, And working us. blood and job very to patient, meet a a our a who patient lab, family do are time the celebrated for and someone tubes, special role time, that's play we're company mostly

to by loss their with. to I with It I S Precipio to conversation request. invited And do story us. we a on my for family Mr. members a so I I had into a my the me an was day out reason fortunately, of lab took so our he team. their shared family could as lap. in of with would Haven, learned endured because S tragic our invested the to about Mr. a story we'll surprise this with begin In to reach and the party, touched company make family of him and the of that one dropped the the his to come due Mr. decided picnic. his to misdiagnosis. In call And afternoon S, traditional of I a shareholder, bold up team visit and months the I what New share was was surprise. special thinking had picnic, leading

and circle, amazing his was think their day stood in you're family moment, thank no share us. family This Mr. team his special last to the with S and do for a their eye listened there not so we S beautiful And a call a and for they and was sunny week, this a such on Mr. I crowd. know can Mr. I the for we S, both and in better sharing Connecticut, dry and to listening. as on way story, of story in our work

company our we that for say and With I your to and our direction It a again, are thank coming for evening. us. behalf to and ongoing and So going. all was impactful. news excited our me the incredibly and of I'll let for you wrap celebration today's with for your up is want thank have story great entire that, support, the call team, really on development family your you today's sharing

Precipio (PRPO) 27 Aug 212021 Q2 Earnings call transcript