PRPH - Earnings call transcript Q2 2022

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Operator

Good morning, and welcome to the ProPhase Labs Second Quarter 2022 Financial Results and Corporate Update. [Operator Instructions] Please note this is event is being recorded. I would now like to conference over to Ted Karkus, CEO and Chairman of the Board of ProPhase Labs. Please go ahead.

Ted Karkus

Thanks so much. joining forward-looking before statement. for to unfortunately all the read you me start, today have Thank I'll it read quickly.

I think is. you all know what it

pandemic our we waves statements. our could live regarding forward-looking our XXXX, funding; the I continued those cause are today's by call, diagnostic future working quarter performance differ and capital. to begin plans of advise our events, our business, expectations, that of expectation and results Before grow subject to that genomics materially including to COVID-XX from testing, for to future everyone cash and third to plans statements diagnostic our our want and plan of [indiscernible] regarding call lab services, financial businesses, for efficiency statements our including uncertainties grow expand forward-looking pandemic, our of our statements, to These contain the expectations and Equinor and future and statements and projected relating demand suggested results will purse risks today's develop plans the actual and to regarding the our

to or except statements forward SEC. a The otherwise earnings the company extent result earlier forward-looking our future could undertakes information publicly materially that these Additional results applicable in with update whether law. as statements filings release look public events today issued the new to are no that our we as from revise well any contained required in to and obligation differ of by concerning information, cause factors as the

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enormous I them So two credit. give of the an of amount

President. Jason the of revenue amount to responsible been to promoted revenues. base just well an It's deserved. He's for has of And the extraordinary company so building

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the So anyway, that's execution company. our of

flu also fourth the upper quarter this Looking testing year, of for this, but only for we'll respiratory. be not COVID, for and in

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into We're we're well. diversifying So to as we lab full the out going are to in Again, diversified diagnostic that's are a business. be of bit Diagnostics, little well clinical, the future. Diagnostics. ProPhase get about testing company going on a In ProPhase a we parallel, genomics our build planning

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side. that's So on lab on that's the

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provide The first whole getting direct is genome sequencing in that to whole do consumers step we online. genome sequenced,

fine are tuning are going to interested, in that's a term whole well. major But retail retailers all we're all is pace, proposition. genome at extremely We feverish not working a offer it the sequencing that short stores,

inning, here the And so in to well positioned. Internet and a years whole so And was we XX sequencing where we in first have genome business are understand similar is ago. which Nebula the

world $XXX a XX space, of University. a last a several another on one telling of positioned. our around company, but at our leading to the developed Nebula valuation. I'm our same company, that relative at raised other in a yet regard point the he's they're PhD the believe raising looks like and the well Genomics significantly years And $XX is when approximately the raising have this to our very advisory board, of And raised valuation, founder it I it's over you, either And yet than market shareholder George public, in going yet, that believe $XX money, in they've he's We more. more are and now company we million Church, Harvard authorities and there's And so yet, And companies. I genomics $XX million so closer fact that some in caps. only million those to out we little to and is and companies be valued million not they're and

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our on in weaker are than that We seasonally quarter. second more

So out a going company with how somehow the that value after anybody for could our sudden ridiculous all the of or It's the I'm to years sudden come of of our to a all conclusion blue is through impact of that company XX knowing this burn just running capital. a conclusion. away that me our going

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facets then yet myself management pointing and a come executed. and have team, So can all that ask that out to our that shareholders. to I team have is everything you and long simply the believe management some, of believe I I'm we really And delivered best term

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going and accident, months, you've the been the pointing be out they're been And few to pointing in to one who's months, market in upside, companies two that charge side we've been half a out don't all last actually light have everybody life last so companies that So led if the the science continue been bearish and year I've to sure I've for a because bear noticed, so no to biotech right. drop. on the that's actually, a

market, know, stock you the the you markets, the doesn't, future. the bear know, discount it know, discounts future, You discounts past it

a deals what's attention so the in your of to science And last them. there number like week, the space. in just been bring to just interesting, a have of I'd And couple and life biotech

companies, there deals micro startup raising around been XXX two least genomics XX,XXX,XXX, two, there As are is for Gilead two I are companies buying one that mentioned, million, least million. with have one, $XXX valuations, announced bio around genomics at capital, at

have starting $XXX to one, assets in acquired of I $XXo, asset are into their they're right, or just believe phase for preclinical, go All million. one and they going either being

we ChemoCentrix. I could I XX months the with And made of so be now. that's a of for developing. you, will, research same we development tell we $X.X at in a then, believe breakthrough compounds And paying billion cancer major XX, that why that course, in And stage the potential have Amgen, from are

biotech, lifestyle, companies see up. starting up. So major that's wake why the the lifestyle, happen starting starting to wake there are were deals to and And market to you

an diagnostic at And just meantime, it's in in business it. time. a We're place we're have the we where trend. the interesting So right killing right just the literally

I'm to like they presentations, all investors, have almost to every when the I I'd really a I have and a so that involved open that, with the Hopefully is we shareholders hands If Renmark some am I'm aspect for questions. happy want, an questions, lively any new about If So today, subject. our of we people questions love in do of ask book. it. more want lot Q&A. talk I'm to get CEO. company. always on

ask So feel away. free to

to And Q&A, Thanks appreciate so Yi first of much, up want Instructions] if Please ahead would back H.C. I it the that. At so question MJ, to from Wainwright. you Ted. to Chen comes open [Operator go Our today

Yi Chen

Thank you quarter? in it going color for give as us Could a a year? the taking similar line second question. potential it down growth bit top over exhibit revenue is my to the little quarter level more in over on the little the be trimmed last you Or year third but growth a in third Is quarter? the to going bit year be a of still

Ted Karkus

weakest what tell is historically, the third I can quarter. here's our So you, quarter

you you In things about throughout think when And, a February. had if have to October, even and know, January, lot we fact, that's facility. it, lozenges been manufacturing you history buying of know, people brands still call do December, in these are we November,

So know, mention besides lot much isn't waves and so have you colds know, in in over you you have there you confusion have or also, the COVID, of but you summertime, wasn't flu there COVID. there, - If the you summer as really same middle And true the not of to months. in activity a whether much know, as been with much is a COVID cold. don't the as

we're would, I always both that I the [indiscernible] at out weakest wearing rules predict same Nobody's just more business. reopening. staying are All in would still I months But COVID even would year. have importantly, that any COVID. the would, say next be been I'm our the home. homeschooled, month our that manufacturing year, situation of people would you yet it's now. I this hearing last schools being forward, into Nobody's the you I would have our testing, wearing are masks. put relaxed in all students, not going as natural. whereby - middle an And to masks. interesting I say time, point now, as for well at going around business know, for So summer

to testing, fourth we're you into, into so And as know, September, of you of week going we the amount school know, go an into enormous getting very will maybe There's last know, August, testing start know, what? school the guess that when quarter. be but fourth, you you the

would the a revenues be the say in we're I second quarter of than second earning less likely third and basis. and would So will a lot very let's I still But quarter, terms on clear earnings. money expect strong daily quarter here, fourth of be

And quarter,, year you year. and but quarter be have we're quarter, significantly strong going very third third a year, than to a expect so where last to I third third over greater our quarter to of

going this over next So quarter, single every have and said numbers and months six, said nine the this year up to year, XXXX. That's are you four continue they be. said quarters are actually ago, to been months know, that I the be nine I before reported significantly, they fourth quarter of

numbers catching up pretty then really to and as of going the school fourth we third the be again. growing the And believe significantly middle we're And am are to the months to profitable. to only significantly. And we So quarter going are that, year end I be But simply But very I of quarter. going months course, expect that going get be the sequentially, or quarter, of quarter it's going is second end our the third assume are slowest so the the first season can numbers was year, into quarter of up start our because going fourth the quarter, as consistent be into quarter. over the to year. go continue would the with third I up less is the summer than to second you quarter,

Yi Chen

students? whether of test schools have they So to not? just year, Or for or symptoms? symptoms students have regardless all do the expect Are the upcoming you the school students

Ted Karkus

before. Yeah, I've know, yes. Everything to school you, it's I still But premature, a I'm school shareholders can by this is on explained and tell and you hearing basis. and this

- from with schools, customers we particular, two lot that are our going schools of have partners and have specimen there's the coming partners. in one specimen a all specialize in indications activity We collection be And or to that are collection the our up. them

In fact, them we're to right we're right now. ramping up with working And now. that

be the I COVID And schools. to testing in expect so lively yes, a amount of there

You what it's the numbers know, to be. to the into don't quarter, I going end certainly robust. the third fourth But exactly be going quarter know are of the

Yi Chen

minimum of going lack lack So have impact going forward, your collection sorry, the HRSA forward? funding should of the HRA, on revenue

Ted Karkus

it have going was had impact, All quarter. to on have an the it second would Well, right. impact

So whatever HRSA, second coming for know, the not in the just as concerned, quarter. third how back. started the quarter, be much third not quarter hadn't in we're But we're we're we profitable now planning going very far without And in at that look I'm coming impact as back, had, it. money you

But coming it's So it pivoted. not assuming I'm it had impact whatever had back. we

checking for information, collecting We also but key. only validity insurance collecting collecting have which information, IT of and in the platform not information a also patient not is insurance on only the insurance the sophisticated data, the but particular

more was sophisticated. And all away, so while XX% become HRSA that of we'd our business funded, before went

less. number business. And doing be is one we're very know, obviously We're total right we're you doing, so in to the profitable the going of the tests

You you know, know, that numbers those get that we're that we're for the information that people reimbursed not in them. more testing are much are trending we people are are, strong. so But the collecting And uninsured. sophisticated

Yi Chen

genomics end significant with shall we the it. personal expect events respect marketing still to of occur business, Got the some before this year? And to

Ted Karkus

price. so and they coming they the you'll what they a the things. are in in complicated my mind want negotiating, my and genome And whole One doing company logistics Well, are hear love retail doubt or a States by the don't United the that, we're we're goodness, we're that. to times part receptive. the in at with I the regard UAE in part like about I've does, mentioned much that think been as company there's actually have before, to the genome work negotiating anybody complicated sequencing you whole stores. very on - where whole there's more not our two or to The really of addition company, and doing as into that with a in with genome also mentioned multibillion coordinating else the know there's, this in this world. in and dollar us marketing us, sequencing about then getting retailers. XX presence lower event, retailers efforts months, there's But the sequencing we're we in is isn't a three The and the price This I've - oh is have I know, doing

they the So with provide can pricing. best us

we're lab work on on working also us the does with that to they States that want So genome in sequencing. United building whole a

monopoly in the - patents sort There, sort that States companies. monopoly on January in forced Illumina there's And there sequencing factors. But is the and really So of a of international have complicated some whole away high there's prices. genome we're why too goes work next only the year, of that United the with company year. that's are this to very

want our so companies, of makes long And sequencing these term one the I January that term And States, out genome with to the next a for will in complicated. to and year, entering pricing drops of dramatically. agreement whole long more make the find then enter competitor pricing change contract. below things we biggest then and expect dynamic Because makes United be don't their things

companies. completely out a the I we're of they that's there's put that's they our I've whole have genome I'm there out that million. relationships major how shareholders why the sequencing we is competing on the told be said these companies. then that million in I there's story, companies so, XX work and is am actually, one to company. be genome they of are when very company working other to all together, going on two just of confident model. you really been just whole capital. competing of them know, that than sequencing, copied of have say so that a And them one market pricing our going And XXX with be entire companies, providing that, And can that not million very And companies looking bet that I retailers, story And giving of are I'm management actually which details. at, strategic is doing. you worth through cap we're a reason that the just business that am working going need are a the has in major what you to confident, And $XX dropping which be I'm complicated And another call There are reason nebula market things startup Having a taste I could more with a cap you we're very why net confident a are have pre market also team are, cap complicated over to money. know,

So interesting, it's but huge here. really potential there's

nebula. companies We interested have that international are very in

developments greater into And and if the expect one Nebula perceived will year, would dramatically in two be value of have I so next to it is we I year expect at would than end, we not before go nebula least going is significant now. when market

Yi Chen

Okay, thank you.

Ted Karkus

caller. And you to is has you, does to Wainwright question a out really following your the investor am next If go shout can next Yi. Patterson. from of course Patrick I appreciate we at go of H.C. Operator ahead. a copy That private &, to job Thank please. question which [indiscernible] Please fantastic the Of it. going E.

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Ted Karkus

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Operator

It appears to have next that lost we can the We Patrick. go question.

Ted Karkus

please. you, Thank

Operator

LLC. ahead. Waldman Barrett Please Dennis go from Productions, comes Which of

Dennis Waldman

a do congratulations than can wow, much I expectations. All say quarter, highest questions. better have is Hi, Ted. two on it fantastic my I was

. First, for made XXXX, you $X.XX

months $X.XX. year, the first For six already this you've done of

making What So year. less our investment prophase anything visibility bring did I your community? six the in Yet is don't at share. are see for you more XXXX last selling stock just what to than five times to times a plans That's PE. $X you

Ted Karkus

calculate great That's they're I numbers. numbers impact E. an very interesting earnings. greater. All personally agree growth when on a EBITDA, more substantially with right. even you you where question. P those a I it's But even earnings a focus the I really low tremendous like situation greater the EBITDA and are like focus your the to company at than on way

some in had banks as work institutional been great scheduled I work probably also deal investment other I every We likely non Lately, once one So presentation to for I've week that virtual which either with this day besides appropriate we reported But once I am do with, investors deal having future. actually roadshows week. a the a for the it we Renmark. to mentioned, with week. do non roadshow I before had think conducting didn't was earnings. that

I believe VNTR. a So we have

at been half. bear day, other year for look and a we've week, a and a market Next the in

last prices, So outperformed, are know, is and fact But saying eight companies even deals today's you, that the the going last are life it Phil, science in every if big major undervalued, companies as mean happen. of that biotech, biotech much to everything and can happen the that the company and we're and, the can't it's now, know, say these Plus, That tremendous that appears world, larger, we've you're coming you with you sort tells it's is, you value. of And are been starting around else. over weeks, science and I point on, it a stocks you, that the acquiring just and over oversold life deals biotech stock dramatically out and our smaller companies, I and biotech year. as at the doesn't regardless higher telling not are severely undervalued, to and severely you life you the economy this just that pharmaceutical can going this. but are you science that, of six, what's now, starting gas it's it's trended and virtually back there's say know, many to we're and bear of know, wars out market, though that simply not have marketplace undervalued biotech it's inflation and significant prices, given

generating last we time. why done and by we long that's the it's $X.XX I stock we've right And we know, continue the to performed the to operated always we've to build So as price of And same decade, know, a know, you over extent, care point capital, build of share value a value. from don't you think as dictated, know, another I while I've up market company stock. $XX And, enormous $XX mean, all itself know, view, need but And, doing And the significant you or the our we price basis, stock we're I'm capital. token, you has things. some take paid will were the out on you dividends. per times stock And in $X.XX out our of we're over now that's dividends. XX amount what stock, paying have almost going

but we're the but and tell you downside guarantee diversifying potential the things all I doing nebula know, on the as to can the execute. to the enormous can't of the all What's stock on. right is business, still diagnostics and the we're working the what next what like risks. upside you not can't that, where while businesses our ProPhase but significant month about between we going things, now. we happen, over now I month itself, Very - from working they have and on potential, month what potential. basis, quarter, will you upside half a and I a it Biopharma concerned, there's potential I on only take continue are to have they working care enormous far have things tell minimal as So year And I'm price if of that we're we are

flow. own all their businesses mentioned, I of our take the cash generating equation, businesses growing As other combined or out four biopharma significant prophase of and

business could of only budget million, money terms in repeatedly half think, now, I've potentially dollars. said a under for biopharma. budgets that of be X X worth is risk, millions of So And a really under a losing the at million, LABS our year division hundreds we have a literally and I from ProPhase now

division, onto years. I've historically, of a know, company, of products, has consumer think low managing stores, And we're invested and always excited. of my reward And in know, biopharma you Drug before, tremendous we're a our unfortunately, with really XX high biotech cetera, their I answers cetera, in et all opportunities something et and leveraging question…. So the pharmaceutical mass all assets management And interestingly, distribution we companies. of that been leveraging for prophase we're Food, in the great risk. cetera. job your of as look blood But This that. and I I'm our synergies, do the between I marketing, for I'm Nebula, didn't had history the you hope case it. et

Dennis Waldman

do us quality. the Besides now? see the is other That just us first you up? part. Um, That's are analysts three covering the picking that

Ted Karkus

know, other loyal one I won't. I possible to go don't analysts very and to line analyst well, gets gets sure, it the I there and want as know, look, I'm it that, and a believe with like even is you a you see It the don't wall complicated, spend really looks little the though I bottom I'm time, And to time, there. investment analysts, The banker, going not is of guy. that's, my issues between if quality a why

value up need building And in best or Our looking capital think the I'm performance care. the of I term value itself price care to my traders. that want take term matter to marketing time of building spent don't much stock is traders company. I short now. the build my I'm short will company. Whether the and the We how to I you just don't know, disappoint value, more focusing just honestly, pick not, company honestly right And No, for of is the on coverage time fantastic. it spend analysts versus where I new to interested

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Dennis Waldman

I One question. understand. final

incredible these with quarterly us spoiled dividends. You've

quarter a be there another Or had great QX, to we if strong, finding appears something quarter, we there's cash sooner? is a Business going extremely to You've out yet have no dividend? before could flow, wait Do to be great still a chance this dividend. see

Ted Karkus

right. All

you view, gets actually regular regular here's like legal very proved if a my quarterly of expect point and pay shareholders we point point concern, I we start making just it my the a look we deal, of a that dividend. from dividend, So which Also, to time don't want earnings. every of an is view, quarterly announced complicated IRS it

right a all report truthfully, let's happy buy if to to don't we also want see if play shorts I they buyback And But time, we sell the that growing, do, to days a same after want which games. to now in to allowed and a we're yet, And those certainly earnings. until could situation try and amount we're us. it's they few we're stocks place So in have we not dividend. stock pay the have of a where have we initiated we at capital, an enormous think

know are certainly us I the So I Having dividend day, the dividends I'd the that I the and that I at the it's at of ability like of a manage in success to we same see prudently. stage have company, share all the that, how pay future. dividends, to a perception to shareholders the quarterly for said personally love development stock goes. of dividends. to science create we way to time, have company And our pay the in don't more buyback want company life the together. end a love the regular we

prudent full know, it dividends, Because doesn't matter a have dividend quarter so or you know well, month So a also just And now. don't want to we it. dividend. that quarterly upset. be does question? pay paid it. everybody to be me not gets that your we from it expect motivated answer believe regular me, now, a All we you it two to because know, I don't do want I do pay And right, don't then want you I a dividends, everybody if just And whether am expects people it. where to as And guaranteed. about or to I I'm

Dennis Waldman

Thank sounds Thank you, again. That great. you. and congratulations

please. question, Next

Operator

journal? the University be private hearing? Do next results release? update Please great you Fred what Q studying question know their Hey, press can a linebacker you're go on if give a products. Ted, you an Or in us The job. Hey, will And Unidentified from is investor, – medical Analyst McDonald. publicized ahead. the

Ted Karkus

Yeah.

this. And with I a much situation, to come the want can that's continue extremely to results. that studies, in or the So did tell you for - so don't agreements I make that's not that just and went is a can that preclinical publishing the why the of actually, I complicated conference they do the complicated that in yesterday, believe That's them into call know we university results because more had one place, in fact, I to certain and could this But into not how actually because well. place that get out a things were these two. results, university by the get research, excited already. were little linebacker,

we're Talking press why to wouldn't I'm then a there's And these just going view, air, to anything definitely shareholders the still love really things our come I so the from company linebacker understand for I'm I'm cancer so about that points for don't when this with there Pim release. same on believe do change so lot of going would shareholders is our explaining I would it's our all that you about understand excited layman's excited. a but out results. what called in out have XXX. that to why and new is and and two I you. a called terms, factor understand [ph] There's present this and it. growth Pim And people shareholders And one

try drugs, try so and think and chemotherapy treat to cancer the you you are logically, keep, while these growing the If forth, and therapy, know, cancer. factors you're it, taking about growth

while there the the you will work the So two. inhibit cancer patient cure could is the behind logically, would PIM what If the of the and other drug the giving you're that you therapy exactly or was of linebacker it cancer? better. try or there growth of chemotherapy cancer, growth treatment or, out a theory factor some one If think about drug you the if odds or think compound the That's down. the the and treatment that slowed to

So it has co a enormous potential as therapy.

lot as Okay, know, app, and quite we has do attention, you this an or, was something, had ignorant, research enormous as But know, had an it pay put you you of analyst pretty said didn't we know, I'm a you basically, that, know, concerned, frankly. or far potential.

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gives that you in working And very we're so here. what with kind of, terms, simplistic

we were so going $XXX one had asset, or preclinical that one. And where acquired either a the that a - company assets phase I fact of acquired last had for XXX then for just was all we to And $XXX into week, their were million, they point just million.

major be about months. cancer, breakthrough So could here we're it's XX we going there, be have a something in that to

know, the you two you and by to sell know, one stock that one you algorithms profit one number you're it's of traders buy the go and momentum is I it did a a Zach, interesting, guess announced it go a created, from So licensing you triggered probably from to And, exact. and the and when funds know, to I taking the bison so linebacker, it to what guess we sell strong because endless, number stock.

that's a have triggered effect. out it domino course. to played its all So seems But

And the will response there short be buy well okay, was, stock going stock. back if played our games to term stock, so with back buy are

been the it's need it research, of thought doing there's enormity work scientific But for agreement. So term where obviously, the again, organization we a And just you what pre had on is organization, don't stock River, they developing. But stage, of clinical really and very believe major no did an it us amount stock now a research well announce done events, early anyway. doing to happen raise it we capital, of they these we're also then university an is compounds. yes, idea that with had excited the undervalued who's for clinical, gives they're preclinical understand research this on independent so we buyback. for Charles enormous pre And possibilities conducting want to we is very of collaborate And clinical. didn't longer a to organization, about, overnight,

So for just nothing we upside, enormous virtually pay but there's nothing it.

a milestone you you if and pharma, phase would Pharma. to be to don't know, it'll would have a know, it The to we three. three, know, $XX I We're at right, we major going to to there. this not expect, got be me? be wouldn't, get kidding looking you If you It's, know, you we're like all significant first I phase retire phase it is going to be we go major If three surprise to time you joke. to know, anyway, a me pay want going on able this. All is

more Ted, said Do Thank answered your any Hey, you. university I the question. – enough. questions. Q be idea than think will when one I Great completed? have I you Analyst study question. more And think I Unidentified

Ted Karkus

question, I was in it's the Because be complicated. publish agreements don't to our asked so was And place were and believe not it if and know each them company. able as completed. for agreement the to But appropriate the I study. said, with that Yes, I

complicated want why the continue, is that's I believe a they did to there's a studies. and the there's that study, study do they actually more completed, to So issue. preclinical they want

And that don't don't when going or to know to not, more out. so we're publish if all able I have details. we're sort it to be or I going

had well. call just We them a extremely with That went Now. yesterday. conference

on go that's can to truly development I Unidentified results. promising it's – systems So shown one you. And Analyst two. and all linebacker Q been tell date the has you work done of very Thank

Operator

back. Patrick The Analyst – ahead. next question Q He's comes from Patterson, private Please go investor. Unidentified E.

boring question, it's But but there. you're today as I'm Sorry, to I interested have much well in. you one lost my one going

You billion core, know, lab up. companies. a follow Question, follow a dollar they're

on know, about You going clinical they're were into this urine, that that's, you traditional And come I be sort and you from? thing. where where wouldn't unless in that you're customers there. to the doing Can diagnostic going you've and from. expanding, share blood talking just And testing of knew lab, your and some been you customers your come know info

Ted Karkus

That's, that's a great question.

I the here's can So best way answer that.

one LabCorp compete me imagine penny? a how months, First in where half Quest? find the you affected of companies All $XX in come by year All operation and startup right, in numbers. another those right, company? going a to revenues. million EBITDA, that ago a company us Could in and across startup year that all, its Have tell million that whatever, we in everybody even just first your they told last are us of and a since nine approximately in start startup ever the with life generate a three and over XXX, kinds complete XXX generated last that quarters, you've me that we

by penny, Quest So all effect, LabCorp, or there's that's right. a even

developed customers can with business are not into of But locked equipment, to IP on a already understand done of state build lab made IT their custom business They're buy I've a equipment. today. and their doing way sophisticated they equipment with we and an built can they're and older. and is yes, infrastructure. all long the that efficiently is sudden, platform and old explained, you equipment, time, new as a And already IP. being art they've have we their their very is all, new you based that, their business IP of all the all in they also But been new know, Second infrastructure,

that's And far do a f certainly the I fact concerned, as as processors gone why efficient know platform, efficient the big So our as have None anybody haven't IT them. they sophisticated they labs, specimens. there. to customers lowest over I'm process one a over specimens, most our of cost every for And customer. get as we we COVID screwed equipment time lost of go our out as is that were to by way big the labs those

So separate from that.

in really nursing Now work them. ability to lab they are send answer We've talk doesn't imagine Now, you're you business betting day, recently, could to. more like it's lab? And yet to end you're the a you're you're don't you I talk this going do two work other able us, the able to jockey, Quest? level to You could the that testing more be going yourself? be the working with question. business the going of Quest? be with years. than to executed not. connected that's for going at company the to you? we've bringing a talk a with to to you executive much that's executed with working call our more me. am you you're president to And, to to they the to them imagine had I potential. attractive on to meeting Jason, team. homes, we're people lots Probably management there's I look, Am saying All Quest? levels with Am able ours, two Why Quest? I And people, mean, of clinical world, closely an can with Could to if company, really you're people lab a who betting right, high Am I have day, And again, of their wherever don't and over call a want of meetings to below? enormous XX on know, entrepreneurial, are that to to work your bring that there just come decade. very last Interestingly, will the more of capable visits CEO I I the you

entering So we're clinical lab now the business.

why of and just means, want proven would that. know fully we or like us against we we set give would by not we're executing you say a going going a up all I the you anybody to to have, commit otherwise, able execute, nobody's answer chicken have but I to it's a lab opposite. know, all be you assume Because not can't until bet you to assume If execute. will amount should large that logically a to us don't operational. that bringing it's know, the business sudden, before egg better than of you situation, I

I align And I egg so there's And it's going I customers but gives a a lab lab. situation, us buy that a significant a if that could us, potential. could with I small that's big lab turnkey. chicken that not can that small with a small to we or lab, see a possibility everything cripple have And acquiring

can, can this, jumpstart do really we So will I we that.

I've to along. So there to but that, mentioned an all actually have a which I people if bring business. the the the enormous lab at amount looked because of was an how have of XXX a so didn't do just by be working have I all it one talking over Again, see out. know them. be motivated And any of a year, could of opportunity we're same we'll time, that want buy us angles, having business who I we'll spoiled acquisitions the would plays previously, we're is comes at that to maybe said in lab, But currently licenses past reasons customer our insurances, you would and own like lab, different there we're number and probably I to may

you So we understand to our egg. building executed business. it's lab the or chicken on got But way a same

pains there's so. not no clinical going when to for quarter on know, speed, it's happen a question. reason our you that appreciate I lab But growing last valuable much, we have build it lightning answers or happens. to or Unidentified business. – to am same And, business going Analyst not very execute you at decade that so. might You was we're done question. hope to And It Thank very we know, the I expect have over way I that your I good Q a the Ted. it. believe

a guys job. You did great

Ted Karkus

Always you. your support. appreciate Thank

back moderator, there are I I questions. think to and any if go our other

Operator

this there the queue. in time At more are questions no

Ted Karkus

Okay.

is XX positive company then here shareholders, over to like spending I about you the thank talk. our of I to [indiscernible] I want I company. would bankers investors, me. but talking am to and like never and exciting running been the thank and is two, future all our to thank all but with next analysts talking and really and have months. the investment excited or And what for we’re I our XX I love the next all I So to really potential about And month more XX the hour not noise, over to about

dramatic but upside operating that is our in some dramatically working guarantee, and a see change subsidiary positive profitable very minimal mind as given in could the of You we’re capital around what then four businesses, And PIPX not growing the has you and frankly to biopharma meantime are pretty risk we’re working probably see our it. know, on more whole upside amount could the to else on. its anything some every and and spend division my our [ph] develop year-over-year is we’re going virtually virtually you in

the I day. continued and and appreciate we’re for I a So well situated think support. future everyone Have attention great

Operator

is participation. The now you conference your concluded. Thank for

disconnect. may now You

ProPhase Labs (PRPH) 12 Aug 222022 Q2 Earnings call transcript