PRPH - Earnings call 3 2023 | ProPhase Labs, Inc.

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Operator

Good day, and welcome to ProPhase Labs, Inc.

Third Quarter 2023 Financial Results and Corporate Update. All participants will be in listen only mode. [Operator Instructions] Please note that this event is being recorded.

Now I'd like to turn the conference over to Mr. CEO. Karkus, Ted ahead. Please go

Ted Karkus

Nick, actually and because for you, the you, are thank excited to I'm company. in really point today an joining. have at Thank inflection everybody, this we call

to an through couple stage are quarters. with going well last and start But going we're am quarters I With fact, inflection in that pink over of couple our next the statement. development things tickled forward-looking in subsidiaries. point said, over I our the company of want the how In with

Before we you harbor get started, like to I language. of remind would safe the company's

During this initiatives regarding and make statements, and our assumptions. including presentation, statements we will underlying objectives strategies, plans, forward-looking

great on statements reasonable general and and these non-GAAP the demand and with they we growing they risks that limited the X Think we when over large actual expectations for approval, conditions, do time uncertainties Equity last years. obtain call in start to the couple that that earnings While ability could based available A furnished but into some done lines, always measures maintain competitive the most and to SEC Not the acquired to with comparable assets the include, filings as but to, regulatory website.All risks consumer that release right. these SEC GAAP working are business our our factors this These to present as included believe entering bankers -- filings. investment such our products differ materially. over couple to cause did non-GAAP involve made, forward-looking not and are results Reconciliation uncertainties years. are are #X, in forward-looking EBITDA. a last I our measures instrumental and listed statements us in us, of X environment a for and the raise of challenges will to adjusted finding from prior to only new were financial economic a with like necessary risk phenomenal services relating on measures of call the time shout-outs. job This and to our

assets fruit, some believe, to are going on the behalf those I assets very company going significant are of bear that And our of forward.

We have Equity Levin, Diamond Research, Wainwright, by excellent stream And coverage out also of Shout to HC Diamond. Search love by Hunter. Hunter Research. course, Josh

virtual XXth. up once shareholders We thank now So all going finally, I'd X the so date right month. you Renmark on do next to roadshows Thursday, a keep like much. on. coming what's one have about presentations to And our I deal actually up

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microcap that I it the So they care the tell releases, then for the to anything. have I'm employees. because our people to it's I loyal company. ask, our receivable then And shareholders And in an time about capital about worry than make incredibly shareholder need we companies. in develop very we our employees I accounts that what do assets. even development-stage difficult press clear very I'm largest our more the our well,

have have to don't no that anytime nothing parent any that nor having you're company, going I because have over of raise a ever any which or great there shareholders. cover short done. intention #X, Labs. our there's raise not year. it's have do shareholders dilute diluting at because of there absolutely for to have still have. don't ProPhase to shareholders shareholders to, I'm point. are a to now means we've idea dilute going soon, do current are But set some of the also employees If the come how last no out And evolved for We absolutely we're planned those not or with really a of I prospects I that aware raises never first. I Because

accounts a receivable. but past as as receivable, on of on business far as based a explained that in new accounts generates I've also Specifically collecting the is those accounts the our is concerned, combination receivable receivables operating

were year-end because the half what first we doing year, about new that. In collecting receivable. the little amount. in less for of of on a business believe that year-end, $XX collected we we're we half we on example, That's XXXX. at first testing receivable million at still had than of year. I But So the the half accounts COVID $XX about million accounts in had had We

that about the we're nothing no are out but -- it's now dragging more they longer and Given receivable no significant but than health they're to, longer companies slowly public from a they accounts paying, testing, it. it that do can used a paying are of percentage we and COVID there's emergency is insurance

from dollars have do receivable. in accounts we So coming

second quarter, our accounts the out to million from -- third the receivable quarter to that from dropped $XX.X fact, million. In and also I'd point from $XX

So with business while they we we were Genomics also we're dropped business receivable. now more still accounts doing have than which for doing Nebula understand $X million, and

In Pharmaloz. have significant receivable Nebula fact, we some and also accounts at with Genomics

Nebula of receivable collecting accounts to huge flowing required equipment, people, building a acquiring our just of developing It flowing our out in the question hiring going time state-of-the-art we give are And with to in So lab year, of believe honestly, in off way that. receivable Genomics the build dollars picture. a company. and current going you a becomes into on in of that get into going I'm the accounts the one And the accounts it's in a a but big to we But you, infrastructure. comes is dollars pay moment, lot To frustration lot lot next puts that CEO. sort plenty and have and be want a as I honest slowly. in receivable of I'll me the the is this avenues. have pressure it year, the on with to I the we of just

accounts we're Walmart, at have building. from acres that if to we So capital, do, we We we across on valuable a access own own and Pharmaloz. substantial a flow watching I a more land We don't XX and And receivables in a mortgage basis. a the property. weekly know need

significant receivable the again. we that could accounts set credit have line up a We

I let's do to equity doing without So to current to to doing I'm things. want all that extent concern capital, say that about we And and right. because that's Pharmaloz at facility. development major that this to all a additional So right? to virtually going I'm our raise that, talk just line to need the punch to the can manufacturing so I'm harm be largest is and we put some the going an would seems without at Â– also about shareholders. is anything that really about every time. what rest All positive company Having raise talk said stage to talk going our

we I values So to talk cap we sometime is I'm the than possible growing of different that are number of events it dramatically could And subsidiaries. some in believe these significantly liquidity we subsidiaries would Genomics. I early believe, there's it that do, Nebula greater as be represent about value of create for next for of a year, collectively, speak. Both but market entire would could these And possibilities what that company. the going

mention as is have company potentially so My we way only And without think. are Labs a Street. friendly, shareholders Wall we underlying I for raise this dilute could public is, because I for I this why our diluting on that capital raise is now my capital ProPhase shareholders. would because we So valuable background shareholder when point and am assets the that

point future believe the bright So you're is worried rest a stock from markets that assured, about of view. the I believe, if I capital very price,

Let's manufacturing it is and years, owned virtually sweet to press I significantly a Pharmaloz of been release the point our don't reviewed bit, diminished want did read just has then facility where Happy businesses time get so much we I'll XX everything. course, an and today, release we're demand at a greater. start. long our line into not around, we're believe, a a a globally to press capacity into and state-of-the-art in country Pharmaloz never last Q&A. move around industry the happens ago. has where press bottom little The spot I to we've release in it for too on I in and and, go the that today.

that lozenge so we million business. revenues we that business the of of we million capacity be on as as world doing can could And right $XX we us right much million now, to the believe, wants now large some if $XX earning have the theoretically largest handle. $XXX in pretax and -- give to I brands had

now. not of right million. $XX million Now, revenues to $XXX we're doing at like We're operating $X million

to our capacity have the December. in of in that's term short coming month, million $XX month We increase equipment this to going

So our for $XX going first going have also And dramatically that because already revenues are instituted into price increases. the million up be we demand quarter, we business. of to

going our even are business, margins base our our business, new significantly to on better. our margins are on improve So and

million And $XX line. then sudden, revenues Those $XX So million it further profit all take nice ancillary line in to are profits run generating start have of $X by capacity goal we new the a automated end one of the of even Pharmaloz at is equipment going million step will taking quarter, serious to quarter, million generating to least second at that to bottom a rate or starting the $X generating which be our even to third quarter, means contribute the the million $XX should or least of is all second profit. that of pretax $X in numbers. of lozenge and us and the pretax

to million And that's of as other the business. understand and capacity, flow And that without lozenge or when our us in right our the So in talk in give quarter EBITDA now. want well in demand already brands X about million that the big $XX X, swing next the for earnings to and about I our have from just cash we just Pharmaloz. think $XX

start pay XXx you in idea but have we're look plans don't already the gives been numbers of equity and it pretax.So the feel what can very will again, And quarters. I you private what's on going me to the So the on you an and of we to And doing have and Pharmaloz the quote the it. there. dynamics told, for this, see XXx press this, if releases quickly coming like could like read

$XX press ordered in revenues. to But work coming which science. year are We numbers, not release that's take based more exact already talking a and going an X.X-day are lines the next us have up which We're it's of that -- and understand, that to to and presentation million week. $XX on on lozenge X million late depending

lot employees the have need bringing more of that, to enough automated downtime things sure reasons like out. have X.X don't of supply and that, addition a build we're a why matter Now it find and the have of in you for you days and downtime to employees of to one maintenance it's to equipment. we but it's we making have But

of here today could but there's end million don't And numbers million. that. you if we $XXX we going that that $XXX could are million were a multiply the potential talking I mean be know our capacity could pretax by the imagine a So be, we're XXx sitting $XX to what million. that of and $XX next year. potential $XX XXx million, to to worth about generating facility be

Now for I not million to $XX market objective. don't saying not company to is kind I'm million. worth with be $XX trades that. capital going get away. But and point a it's want the of suggesting I'm around our that that's that potential carried even a to

background next the on itself. my more significantly company We have in facility investment Street. year whole of manufacturing market by a worth cap again, be our is And banking Wall could that than

to be I'd in regard. not pursue so that all avenues silly And

So with an development I that explaining of that gives do for entire the actually not microcap suggesting blindside but can doing a that company, an tell anything do interest future, some our I'm shareholders to are Q&A, will doing we're present. of I'm do, little you I that genomics. something can't that's the you more you the can point ProPhase options we're going other what guarantee I foreseeable future, us right? raise. change, rest I'm so at And we such don't at activity, one background. not talk slightest in not many simply just to our space have away subsidiaries available assured just It's so it the happening on but all in have and in companies at okay? Nebula labs equity bit

boring don't Now a insult me, want ho-hum to sort To business. anybody. of Pharmaloz, I it's

It's is cancer says numbers not XX a yes, from view. done point One Pharmaloz who's this all It's execute notes had one years. tell is point of biotech, working employees very of that a not exciting. here nothing cancer it's view, it's numbers as probably at very my of you, I've going easiest company -- look senior things is personally, the execute there, development is guarantee quickly can a but testing, of our but therapeutics on exciting we're just this not can history And thing it this I for Pharmaloz a of to I'm view. And a thing like is stage happen, hands-on execute the no-brainer, why capacity. for it -- from going significant me see to can't ever not And exciting point not a but But things how like a one not it's exciting on I've to and right? executing in ever of nature. do. right? building I I've and it's the easiest It's to obviously, way. the we demand from on the that

dynamics set yet is completely the potential what's Nebula about different that, Now and Pharmaloz. than of even Genomics, future greater interesting

at research. literally of company their a research is monopoly medical now the look research. doing no exploding talking a you because And what's consumers of academic this weren't genome Church pricing because sequencing it's sequencing, than had levels in testing this more interesting about So not years that so from price.And price. coming whole researchers it And Nebula more about where our say is period medical whole hold kept now. one they before vision understand, coming the on George genome already was and was high. eyes for for reason down, much business of their And doctors, researchers what's is I'm got ago, together XX Genomics And the big academicians explode long kept a truly is previously researchers, physicians, interesting whole demotivated way research very just to whole there starting sequence that But doing it's and genome to didn't genome to price sequence now other genome pricing medical very and time. is They the sequencing. all that high, demotivated that seriously

a company, settled at the beginning bring the litigation Now, in the any accurate yet lower high a new country, we have they microcap company equipment a year, new laboratory provide the than the not can't extremely this can an to efficient whole company, is into it's we in where are but this new believe genome this It can laboratory statement, in price where country. of statement. country for to country, throughput, first statement. an at is making equipment our the sequencing, incredible such I their pricing

And very we me just off the it small wrong, I it the from get when interesting feel base. should. way but nicely. And selling so what direct-to-consumer more were taking really was -- business didn't online, a growing Don't was

were whole at we're genome us. were that business provider business. out And We we small And it's so have we getting And business. building to advertise XXX% big a is the and now advertising. business that a a doing to of team is a word a now to job doesn't the any not base, that sequencing meaningful just deal, coming tremendous. It's conference say XX% to country. advertising, genomics the cost from like no or the here have generate And growing in the low-cost responses numbers. phenomenal that we had I the it's of just But that to require if

believe revenues. $XXX doing my is have yes, testing thing, our built of going Karkus he of last He with who business, to senior the testing. they along same the now a building becoming Jason business, way So million COVID same that I kill a just company. is the doesn't COVID He's employee And is they're and son. year it genomics which our Jed the with Latkin did

this, testing enormous thought Dreams, they going had with X business. of Originally, and did X Field and in year of years and COVID Costner up was the testing lab, issue be years. testing it, the will approach I that X interesting Kevin And COVID Jason X business, of the amount so was then what's an we with years. to approach everybody we And the it build about you business being lasted The where enormous we if ended it COVID ago come. took built

getting and only point, tested Now hospital. into get at COVID tested, this going people the they're the in a hospital they

last business what's this genomics whole it's its the sequencing spreading it's the the is going -- -- So we're is actually not is testing the are And and COVID even with business genome built to and New and it, quickly. Jason, it's the Garden sequencing genome And forward. we we I if we're to and come. lab. same business starting enough, you and they reaction, for the whole business, COVID in the the as now now explode genomic But infancy testing it build York, lab going term is business. our perfectly to going in City, happen between and will wasn't genomics come state-of-the-art to didn't. sure with testing business leaders COVID they situated in in testing long in right are a which word had difference interesting, the The going And to

the companies have has said opportunities business scour amount profit anybody year. repeatable nice our that looking And labs there to they after BXB to after healthy pricing. close us. of it's us, year the came did sequencing. These month, even wasn't country, month And for for And what's that genome an to about margins pricing still are We our who research. do whole business, major enormous

it. on can You rely

We spend out. profit it margins. We you have don't very on to have advertising, healthy plan can

and labs an business, of is as money it's margins BXB blow valuable so their And of they're of the one going doing also from whole business the to business it's big money, country, in largest getting making the business way. dabbling. They're they the it direct-to-consumer to be see repeatable, have in of can feet has viewed a largest will direct-to-consumer a And in wet nice for we the pricing of with outsiders. no labs What's away are us. sequencing, to offer. still a the one kind higher price profit for offers that what whole ability and some business to in And spend advertising, where the they that Xx incredibly interesting genome we nice to profits on humorous country aren't sequencing the genome we have but Xx compete and --

even fact, In the business. in really they're not

they In very with couldn't. -- fact, they're with if us, they even in to wanted -- equipment on the consumables, can't expensive -- business expensive compete they

going a so the would develop for develop they And build bring things, lab would -- time. to with. would negotiate ours, equipment, that have have to first to if out in the then like acquire they wants to a have They with lab, a to that's we professionals. have do these take somebody out to all company They genomics relationship have build pricing. relationship the to have the They

there's just And do business short from be into can years. going much do don't there finally business, might like but business X.X gets term, lead we -- what a they'll that in year be not do. to another our a so the will the I But there years, country be might they what if might lead time it's in around so that do. be taking to X.X be that we time it our else us. be or can somebody year, And lab is, know isn't a They'll what lab go

that CARTA pure can test, our clarify on time mention, doesn't the lot we're Linebacker, in like results. don't market great market's ] studies you the a we cancer often anytime spend going esophageal plays, therapeutic Q&A. I would the think you soon. getting Linebacker. don't bit Nebula [ this I'm gives really, further have just where I biotech that's really not to to little care. going I to want stock that care know I ongoing I to about So just mention call, on a our our Genomics. of

mention it. many very one cancer not this avenues big on esophageal our That that about And of prior test, valuable only esophageal that's with not don't day. high cancer we explain interested test. risk esophageal I And spending you a of going in. explained our We're the including avenues asset money tell for really risk. even multiple bother or on And too we it, test, insurance but again, it's test a have esophageal could are But cancer lot our excitement a at have so be cancer much testing whether calls. for the you're what call So whether of or hidden not to not but I'm have I've is deal. us really low today, they companies to

it have our We're with came with that, also without an And about to over. our ability potentially now. may, know-how esophageal We that the finally, If technology it, we our forget therapeutic. an develop cancer able technology developing do provide endoscopy. to and we be this test

directions a So it. lot going in we're with of

time close forward And are We're hand. at looking cancer mentioned absolutely really I press -- to shareholders early get really next frankly, great guided quite all what our I'm looking developing finally, test. commercialize it is release, year. get to And esophageal line next we're getting in And Equivir our in results. CPT continuing to We with are codes early year. frames our totally year, I've the

so on. study great It really this with was have going really, the good. oversubscribed have been patients, far clinical We results and

can't actually that I on results can the to some the to we that product. of we we'll preliminary commercialize put packaging so And the so use wait claims can get the finalize

want couple will our just Nebula a notes there's GAAP quick with mention. Genomics I wanted our anything that, more of non-GAAP. I check to with one I on thing versus if mention so And to just

We years, frustrating. though we have get the where a subscription. have minimal over little even we the recognize It's services the of to revenue upfront cost the to revenue there's provide subscriptions and X

subscriptions that correcting now. different But the are the beauty -- of even not We there involved. the that's is business BXB be may model, a

So there won't versus -- we non-GAAP these have GAAP will delays.

from I growing believe, that tell making which quarter will we money start from do, are sequentially you have money are dramatically quarterly losing strong understand every we numbers Nebula businesses numbers can't and happens, to You going I company to go year very once we're see, believe going a quarterly. growing. change. next a going the thereafter. going I they're Both that start when quarter But to to company to quarter explode the and and you want you year. and earnings which now, tell it. is me revenues, to next hold therefore, I to profitability, point right in the exactly don't But I can't so of amount our opportunity money flow, not EBITDA, the when an we're losing you building it's to the it's compared adjusted managing minimal cash we're and look issue. at what and

markets same building out and true or generate it's have the patience But value in over the Genomics. for the if market. bear hand of of just to we're it Pharmaloz. and bear underlying Q&A, a for Bull when of the So market, we market and last a get build we our matter and I'll capacity exciting times ahead, point matter earnings we're it have is Nebula the bull And effect on no and a to bear company. markets ability revenues for the doesn't

growing So underlying value it at if believe, is the single our some every market of will At company, that day. recognize stock from next perspective, I year, you point, look it the ways, in whether of bring I a whether market. the if this in or value But not does will we're year. market other bull doesn't, or it it out regardless bear later

it I'd love that, So perspective. and And to XX-minute Nick, mark, I I'd love just I hand want to it you all with Q&A. for the over hit that over. to give hand

Operator

First from be will Lismore question [Operator Waldo Adam Partners. Instructions]

Adam Waldo

me Ted, I can hope day, you Good okay. hear

until the really in 'XX.So expect million the be the from that businesses cash which to start million a for on when forget to quarters to performance like quarter that other you quarter to week second this bridge we're bridge quarter So next the commentary, a in market and couple your half couple last ways of $X over you second it's adjusted could outlined different cash balance modest EBITDA. of flow significant now, August, $X going access liquidity looks rate flow, near-term Pharmaloz met run free capacity in you free of negative we the flow, existing the cash kind free generate based negative in your sheet right of

You securitized. million be in last quality that were you have could high balance on accounts receivable sheet very quarter your $XX and indicated

only mortgage on equity have public ability and the market. typically opportunities different any a the capital market We're direction value on a get deploying bear that trajectory private have private relative move stock you're creating, your in a right You in various fundamental price. to know, you to and to liquidity the of to your of take Pharmaloz as by where market in bear you way public the of stock raise the is underlying We're guy subsidiaries. markets the kind a and you as to business the change

Pharmaloz you needs accounts there, front cash so from kind on over the next steps what for So funding from receivable base flow capital you liquidity activities? can the markets well as any a or expect to should repurchase? quarter free separate both of what And on fixed for do to raise operational asset take deploying securitization as we think capital you share mortgage the up operations,

Ted Karkus

the have labs, come want remember. last said really right. love ever you that a work But if I this mouthful. here. on do I was all truth may to the well No, I And it. don't would call, No, think you matter, Wow, that's ProPhase I of for the

Adam Waldo

job but I thank do have day a you.

Ted Karkus

and in say of question to own I in example, I month. question. January. profitability bottom actually much just by to we increases which this will answered equipment terms be the improves of price in, profitability don't and really, the the The the your The question is month, of we would as It's December subsidiary for answer in how speak have improving. in but to company automation want profitability of and going I for of you coming in improves subsidiary, that to the some end that the will extent, any start the a up of company, to line profitability think automation improve just that quarter should that which The your line. equipment kick running start it out is Pharmaloz, have well.So

December, a the month Pharmaloz and sudden, are to significantly. improve going of all profitability, So of of actually in the profitability the revenues

everyone, you margin. so profit the on And rate we're existing going have business, has we're only going look improved gross even higher now first pricing to which new and quarter, doing a -- run XX% be to that's than at the what at higher from gross margins the probably but to business profit right not increasing we're

it then So dramatically, in is our Pharmaloz business we going right? improves in, line second to short going then double. once Because And profitability that improve get term. to we're

look, December, to is So in going our business -- January. be

question. Let me answer your

are I Once are and from short You but going to asked going be numbers a What start less It maybe that long right revenues doesn't true -- kick question, for our you're to be of it's improve timing. I will actually, which you you Jason don't month. same you I to profitability. every kick word.So see team these is tell give full very be much both in, is Nebula, profitable becomes we business a actually those Nebula can't negative month profits going turning know significant our can't we to and that profits to have business. line and take in you which bottom a now. mean losses the to I once less. we which Actually, less where and more little to point tell every of of and we're week laboratory is and I points should have our which Pharmaloz And lot those in overhead the know price to but monster the flow business bottom be at we could going Nebula going genome tell the the high will can happen the developing a subsidiaries. be profitable, extend. businesses they're starts honest less have term. the -- in, be equipment But we should in each cash quarter. Nebula profits just start only capacity, I off, some a the because December. very, overhead to flow opportunities drag country I'm have build whole you. answer. heard the is means improve see quarter, a to of have. that's We don't But the with in it that's complicated then the lot sequencing happen all you why going line. we trying with quickly, we're sudden, low -- -- that to to The And

the so -- We're get to of lab we're and next in for next the piece first And this equipment. next piece equipment. the of line the in country the

going go us is want significantly, bring amount business that high-margin enormous to So to have and our us. capacity we of up businesses to

So numbers to start to are going those improve.

then a less have higher. are that error raise the X that for be earnings on we X they the would pales interest though a the The rounding is year now, bit me -- at even going and that that cost flow time, interest now a going to to improving. all And So and negative Pharmaloz. equipment flow believe money of rates is be to mentioned, are on are any don't that it, expense look whatever the less general, ago, each basis, the do higher comparison, more at access things I rates been be in in higher on the way nature. some negative we the the yes, of markets But the revenues we same where require cash opportunity have I interest generating. going whatever to even right I in quarter months mortgage that is as think time, debt than the quote the it's to at and to going is I at short-term and we're cash if and But compared depreciate little rate, be same a numbers it's those we at interest more, a

have capital, our well to access we receivable. So as at Pharmaloz both mortgage in as do accounts

receivable improving. quarter continue accounts to million. the Actually, receivable went second will down to the accounts quarter, third $XX It improve. million as from Our even mentioned, our from I $XX.X just to is

to continue don't to just they are receive. part, that. We if that. are flowing from from Dollars accelerate. That's in in I going but that's the flowing frustrating know

will other think that as I statements, don't a facility us when more more a bridge today, mention, we bridge explore forward-looking strong of liquidity than events that if have may I a we guaranteed before that as quote the base than company is down than the us that we like that bridge very capital go entire a not would to but well choose And options me, anything Yes, not would between have will Labs in to So are credit as and on to you revenues receivable, next ways for accounts that it for will out like to path us. mortgage raise asset path. and it's profitable more to to value go When to if subsidiaries and subsidiaries. ever year, ProPhase exploding ours want our certainly dynamics we down I that have in create and will opportunities company. bring earnings do

of you. can the go answered your if thank So our question. for you, to please. a I move to with you I and took question, Adam, question like We support. time your would But just question. appreciate I to hope Much lot Nick, your next next it.

Operator

with and Yes. HC That will be from Company. Wainwright Yi Chen

Yi Chen

much the and How some within give based it quarter. on those us total was testing you whether disappear testing pretty expect the you much revenue for third fourth quarter? Could of to revenue the in color

Ted Karkus

Yes.

minimal. the I disappeared. the bit It were. it don't very -- out, I I I we up I up to is did obviously but and revenues testing numbers be as first if of can the release.So break get and at beginning into pick go has the there It I start those Pharmaloz a was the where number quarter. obviously fourth noticed rest effect tests. as It can, start pick what that COVID know for CFO very Nebula you mentioned, apologize. third into manufacturing. don't then afterwards press in in quarter. put So Genomics you and We or are quarter. a those disappeared was the didn't And to little numbers had they of small really the to quarter, revenues of the the the now

a to revenues increase pickup I know what overhead. I Pharmaloz. don't significant expect counting, in not revenues I going in significant profitability profitability for And relative are numbers would actual and so for and expect a also be to the And our would Nebula,

contract don't about we're believe going the demand quarter. based be the these are my I But I estimates going But believe it indicated want I much who -- at a we to $XX to profitable. to right? all, and do demand demand build -- again, then us, large million. X we statements. about going matter have we revenues demand in forward-looking to brands are as first of quarter said, with we the these business quarter with on I significantly So all our and first contract, the to talking on quoted I'm just which for And get in second it's that whether million when up into be lozenge when in we them. We how profitable. are can improve have even be of to we're go already capacity already the $XX Pharmaloz, have of

to situation. locked out rest them Nebula, call and and I in With by of basically the a all on basis, of such the Jed we're and sequencing. is team, genome want everybody the don't honestly, to So Pharmaloz. I dynamic of on said, It's a daily our evolving Everybody we as knows, this getting genomics Jason out were low-cost that meet very at us. word And conference. the whole once-a-year name, is the just provider were wanted with this head we're And major conference. quickly

that's So COVID we can we the how organized How efficient. more to get and testing. to going quickly capacity, similarly quickly few months. have the in happen had with experience people? to we we can next hire can And get growing pains We're quickly going the -- more more all how build

many exploded. then expect and tell pain, pains, growing which to had growing thing and same we Nebula. The earnings I tell revenues can't you the months, with you can't the few month. first I happen and I how just

question. Â– with need a I But was can't connect our you on if I'm way answering So give to revenues specifics you I of your of what's call. do you more the more breakdown that than reported. hope happy that long-winded information, after CFO a

Yi Chen

full Will results the earnings year kind to comfortable guidance XXXX the call. on provide of some feel company revenue

Ted Karkus

to up we Well, I'm to never revenue be on going given not have make number. honest not this going you, a guidance. certainly I'm to and specific call, with it do And

the we -- demand I I numbers. I've say, never the have In capacity capacity. actually given stating even numbers. the for state fact,

first take minimal So should that quarter, look have into fourth revenues idea from quarter. but as And an there Nebula you can really let the and I the -- you it, was off but is in assume COVID very me that contribution both they'll the our Genomics will where third said Pharmaloz quarter, grow in the testing. in

in the off improvement quarter And first So a really it you little those expect nice way. the in quarter, can subsidiaries. X the takes fourth a in then in of revenues

Operator

Diamond from Hunter Equity. Diamond be will of that Yes,

Hunter Diamond

the thank today, update out. you and for Great shout

And corporations? So maybe it whole some the Genomics your get other I future? to to sequencing from genome Nebula imbalance the of information business. covering potentially for the you're where on sequencing the genome insurers? thoughts whole what supply-demand and out it the because demand you've And wanted kind I broken insurers big from Is wanted on see just seeing in are for

Ted Karkus

Great question. Yes.

our of insurance is it genomics of that is business beauty on none business So now. -- our reliant none of right the

it to. know therapy and on model Nebula is They're X for was take needs infancy. works that one figure years been the the one we exact do genome cancer. and it it's inning a on in what -- It's them drugs whole company the the the type that makeup, makeup I ancestry years did called they whole a dosing state their And a critically And it what -- be I but genome model. around of a completely why, drug a because for what I -- inning, they role better company, we're it all are works learning was mean, work one the predisposed founded I When ago.But -- only the I X built dosage the didn't it to as don't acquired of built or none therapies one that's its the instance, genetic are important and a so on and first They price. with here. about cancer doesn't to They I've infancy. different and been its SNFs. which in they it cancer the people plays industry other hate we you a genomic sequencing. take take and of Genomics about direction first or about And the get cancer, both in how data that Church genetic the drugs kill about you're one that drug, we're genome, great which need factor first -- really get your These X with And get of going lot X% your the inning for that this actually on more, no being for in is genetic makeup. about studies works talked they're you your Which health us They're testing has healthy anyway. you talking out? people How They in critically based cells. in but your We're exact not don't to other always needs for all health.And important cells. on is But and going of literally deadly. to in and George sequencing. on is killing just ancestry to literally than diseases talking an less. worse going. talk of should less that doctors say questions gating cancer, get that and love XX years same answers so

research is all And huge. it's the so and direction, why that's going in this

is and up before. really opening what's say it's so pricing, when demand you supply that based didn't the this happening about think And the doors companies the demand, so is on even

patients. seeing did what's their access are hey, from These not imagine, millions thousands physicians, is if companies of through not telemedicine and deal millions of just have of if with And but interesting that hundreds, company So we demand goes patients only a telemedicine of says, and a has we're to companies. of networks that physicians.

we test. patient, got hey, the whole to genome says physician this the So sequencing

right a this no can should get reasonable very plan. it. our do at with You It's in We advertising price actually now.

it, from X the in if do can labs the want you our to whole it and on fortune. masses, genome a all imagine leading opinion, and are ago, come we lab have country and can the can but was unlimited at the for always a go the all out we expensive. that in the am months other a leading today compete from statement. do, sequencing sequencing, to time, we to it with. I to months sequencing my and price. making remember -- place are just that based genome that now, I'm It's country, lab the right you But whole everybody get this we were right told making it too year costs we genome you I in told whole in have and such and state-of-the-art so in And I demand a I Yes, can't incredible X is that an you nobody to in continue build believe

nobody considered even it. So

new like a whole up. starting whole It's business is just it's new that So a industry.

from. where of other coming potentially the out roll interesting whole the having have woodwork already of all pricing. doing great sequencing, saying, from God, we it's It's out institutions we interest, academic test of platform it's They're just the So oh types demand patients. this We're millions my coming genome is and to not have that coming now research. your

months be And to sell you, know over out. you the to in months going of business really invest couple just is and I are I inning for first a what if investors, we're anything, long-term be exactly this are in. But People it's to if high So genomics is quarters. X XX incredibly to There figuring some want valuable XX next I'm amazing. know pay the going buy low. to the love all people to months. this But growing of telling

So here we are.

don't the is And talk should We don't as have phenomenal. a potential understand the even stock I talk about and And not to have even stock. stock low-priced people the is don't want we the trading I about don't long I yet the risk/reward think stock. to shareholders, have as dilute to here. CEO, I as

So I your I but love hope -- work. I I really support, question, really love and your answered your I Hunter, hope

And call have to more so those the and questions. one one? I you on next thanks being before Do the asking for go

Hunter Diamond

is has enterprise was worked, most ads. with like what direct-to-consumer I the heard that thought question. of efficient the seems going guess Yes, DTC, sense, That these always all you're telemedicine to it I that reaching companies I like one Absolutely. is my you from layup meaning the sounds which have it the the seeing, only versus the that but sort bigger enterprises already patients. made the way, easier model kind of

Ted Karkus

on. better Hunter, than you could have. said That's I spot it

a -- I you And built direct-to-consumer inherited acquired then I right? advertise, where out So when all to we Nebula Genomics, inherited we have lab. a model

I we the business, don't enormous took first breakeven number, it's we lab, bought probably know overhead on When in exact we built genomics an around first amount we lab. a a the So the bought building business of when when it.

transferred a the the have and business doing it. and overhead understand not a the COVID but people of we're of genomics the support now we to sudden, and testing, converted also not We I all testing we're expenses lab COVID lab, some of to all doing over,

sudden, require we're exactly to where take that have going millions time interesting in And thousands so that we've that built platforms to starts it's point of of it, business matter to we're and a you're advertising situation coming It's access that all now.But now before of and have don't off. only right. money, what's after patients. the And the losing physicians is really that enterprises in a of bigger quarters months, that's we're not a a

academic so their And sequencing about. only genome one. countries avenues of again, not of There the also that's It's want one percentage countries. do or to institutions I'm and are their on And others, population. that main population that the excited whole

notice. the opportunities so So out to take pricing that there's monster people significantly, And you starting has there. thank come some now down Hunter, are much.

and here. great question. to Really me couple to more run going go if go your Let day. Hunter. question, next of a still time, the next out appreciate there's you questions to please. Nick, the of a Have support, We're

Operator

be question from Next will Waldman Dennis Productions LLC. Barrick of

Dennis Waldman

Ted, am sometimes I amazing. great we user. a people us for information thank presentation. as user, Nebula affordable to don't that receive and I you the a a and what capabilities understand think just is The is

researchers on. the you're the friends into in saying But fit I'll my that about done that. the business, going much fact reconfirms so is what And it reinforce on the to how want in the think amount I that business going I in on, fact that be comment going because it's to these genetic research me did see able researchers Nebula. genetics drop of and price million finally I exploding.So is that's are just to there's what's on to of the makes attractive being telling this that the domestically

about you let's talked I be is question going now. to a -- we're the have So from where for year you

So I'm from on and going to call profitable are going telling you be to a be more this We're how me conference we What now. are? year be about going Nebula to specific.

Ted Karkus

low-cost What the good we you is and business it genetic its your started to is me spot demand that into the in you on, speaking, just critically business about in.But counseling. to reminded sort and prove a just get quickly. this So is spot here, and country, interesting, a provider. to of it important, point in commentary are it's We're explode we the we're infancy. around while great We're getting is about were my be

the that review get don't is with anything They that have And a you them. sequencing genome It's will that reports? reports what's with of so do know reports. the these beauty counselor really their step? next people like, genetic do to What their about whole okay,

when all, partnership experts typically not physician the talking important there I But understand a attractive. mean, after So also these business start well. in make a role to That's going to primarily play are our consumer offering only we're that around counseling physicians about and build networks platforms, around on going and also genetic I even side. model as That's an that. telemedicine could genetics. our more

And so genetic counselors physician. really play could nice the complementing role a

When saying going really Well, to I from now, I'm excited am that So be say Nebula, what that we're business a that. about well. honestly, you developing going I be year is -- about to right? that could acquired and could we for now. business that year great so could a be little sold wasn't the That for literally conversation be saying, all have so much boy, from -- we a

a with no from business that million. we COVID when we the wow, I the well, Well, the how business. to on this And million out don't whole only up year believe when conversation is, do building where here. at going be Another it going We're it's having that's are of know idea, are, labs we because point, put will at could been say, can't starting really with infancy get X sense. like now to I revenues, revenues a We're saying number it. be it. we you, go genome telling dramatic. to I I the dynamics door big significant year to the into the the in to want It point. no it's in business? the concerned, think makes to Had far our be largest have be million ago, same have knocking want this we a we'll And our the do we think years we built in country, as they're going your into sequencing $XXX on $XXX business. would labs revenue. and $XX business. were get did do as I in didn't happy I How I'm buy we revenues And are

no have capacity, building efficiency, is putting the I'm I infrastructure, What truly don't. doing the in I'm I all the idea. pricing, place. the So that

great have execute. team a We in place to

team on testing. a executed have COVID We the that's

right? years Nebula the get place. people have in Genomics thing We Nebula business, going genomics. do on did Now took they're to going now execute to we're X we're going place, right to And do same with all great the people to in the we COVID testing with

So point testing it's But not genomic anybody country. as this in the this new experienced at we're business. in to we're like as

actually isn't only anybody expert So the have doing equipment we best the genome pricing, of sequencing. more the do and are in not we lab an lowest and but the whole that's there that

is going serious Dave. follow. microcap that I be about the are it's talking In you giving to be question. sitting the dynamics, and I'm going to precedent that the just given basically of are always the York, at That right get but, out which are hope strictest. person hell your York how of lot I setting the our XX commentary. -- we we setting answers almost state can be regulated, Dennis, how certainly and state is a months That's we're the We're company New what right? we you, great your is it. appreciate of now. fact, this else great that big to was to is with Thank here everybody of the to and forefront highly what most I can't not now. question. question a New next -- our going in from It's I'm going a those believe specifics time We're greater it support. than revenues believe if

Operator

Fred be Investor. will question Next Retail from McDonald,

Fred McDonald

than but the numerous subs, the greater is of current the more work Biopharma commented times ProPhase. you've value separate and about Ted, Nebula, ProPhase Pharmaloz,

value? a these going all you on their these of do Now, off raise at you to an or be say spin IPO raise you're not to going or to consider equity prices. divisions an doing Would one

Ted Karkus

Yes.

rules. file. of don't So things the question. IPOs that's of nature, But a about and ahead frowns talking you SEC great I when upon general, exact SEC know that in

have more these And bet, worked fingertips. science all development biotech relationships to of and that background than we great nail Street banks. equity you our the investment our opportunities on and say years I are other head the companies. at for given and X can so potentially microcap and in my And options they daily life some as comment big Wall can't now, you I've will hit I experts said, And with than with stage, given

So great we're in hands.

follow have we're And when their working to building then have the developing, lots to a And nice, about doing. all beauty underlying fail. these wait our cancer now. I underlying something that behind. great the going of And not sure, cost, year, and knows and going In have what's a have loss a and we're biotech do scheme unlike If we'll a out there's we we're next company, that we drug drug yes, to invest because pure -- cancer and I our demand, rounding subsidiaries like when and biotech major I'm is else going money. visibility have building error a that you you're X a value our at that what reason the you everything we're to the taking relationship. a seeing this our of knowing why subsidiaries where company. the start a coming. to will where drug they we'll it's have pay have we deal developing company options described, a to right bright. earnings investors there's mean, and spending our going be am year in more I just future that people you everything of the will situation, We off to are that minimal are that's fortune revenues because have anything big off, for on a with revenues for do raise to have capacity are see take in that a be And confident are very is perspective And we're in And do raise type is, that's don't but pharma, earnings scared they're of to therefore, there weigh based when things the they and are the shareholders. that time.But But opportunities risking from we the when that's dilutive our the for that demand will build never

where You're on nice revenues return and a your the visibly can investment. and earnings a business talking growing you're about you see model getting

will tell I I comment my do those being, of spin if can't tell that shouldn't on to be I will bear bull businesses for market in and that whether But have earnings even a market So out and going stuff. us, that that you to what demand. a we're or IPOs visibility significantly we because is you there, will or generating we're have simply point be kind greater options available revenues can are

so have question. I question. you the we your question your we Nick, thinking absolutely I And thank So way see. that really one I always for company, it's believe for the hope And time think more It's a I question. our And be appreciate and Nick, much about answers time investors we'll spot-on and have should support.

Operator

PLA be Paul will Associates. from Burger, That

Paul Burger

got to don't the September accounts happens. know have also sound execution lot out. that $XX on you potential number your when a I a your things, the And with we a $XX like of But look unclear for XX. accounts on at lot have is financials and little million still of receivable I certainly receivable And works you X, we issue. how hope mean I I'm million

Ted Karkus

I quarter. I million apologize, the was $XX end misquoted. at It of the

to the thought time. chase every But look going collect high-quality accounts really were be squeeze let because if cut I've enormous let guarantee on what, a insurance last spent to this is week Let can't we our hope good our at I are I amount the already. out question. that given one money companies. Paul, receivable from we I of Well, said, accounts me more funny make on me sorry the accounts all answer.These I've receivable. receivables. the I have question. in you going of that decision year-end. question. we're time me in know I'm to that's coming back it's an up. you We'll

don't money the in So question an is I that you're at you like this answer not go of question. looking it's negative it's want last didn't not is greater over than I way. but let flow. And Well, a coming the is put amount accounts what to this off, me receivable. cash it your for I'm already cut Nebula. our sorry, real that

Paul Burger

at To that least it you've looks a months. X half accounts over year receivables like or got old me, are certainly

Ted Karkus

testing -- So we the amount We this did of explain. COVID on did calls. me so first explained okay, half let significant I've a prior of year. the

receivable amount on by it receivable a collected year. year last from accounts accounts and significant replaced was of we new this from So

not still Yes. some it? the same do Yes. year? collecting accounts So it's from receivable have we we accounts last Are receivable.So on

In the fact, I'm not going to details. go into

in, going our that at it bills see on whatever know right. they now receivable major specimen to exact X it dollar they money and and flowing I company owe year, them, and We that account and that with specimen been us with but they it insurance the drag we've tell have and agree the a want are. but is businesses. block last flows I'm but it. come to what collect every our money, you what building from the go and for But by I'm money like me it want That's pay Obviously, accounts wait owes you own. we're us drips in drabs. substantially it flows frustrated you. by else at out big negotiating in. instead believe accounts I'm don't rate us say end. believe of paying what to what's settlement, substantially they're going receivable. coming I it's by coming week. number, know every week. multi-hundred are what to I all sounds don't year of I the they All in to a and We'll it's million frustrated But of

Ted Karkus

right. All right. you. Thank All

happy are up. point. more killed that wrap to I want any there think was you to I'm my if I Nick, ask my questions or if thunder.

Operator

[Operator Instructions]

Ted Karkus

hour we're me so let don't It looks looks Nick. with question, wrap question. done last just it in anyway, come It like one like on and one more questions, up bring up. have you ahead, we've the we why Go

Operator

publishers, Patterson, will for right. Ion Mr. All That Patrick be LLC.

Patrick Patterson

realize for intrinsic Ted, subsidiaries. value every and and the and day I ask the cancer everybody I so is going of know life-saving doing to It's these a wait me is with samples about that The excited about things. love you last I us already having Nebula money phenomenal. all works, and such it one want too. But for We you're you're esophageal know what one thing. I know cast. to to you're

endoscopies So my question is.We mean million last one did I was I XX year. know of I them.

all to talk you tell roll be going there do that Just other that code it? there how that out? test they manage about words, it? Can and you In do is doctors is how a ought America and the to GI in this to you it do CPP

Ted Karkus

Yes, great question. question. Great

Okay.

go. we Here

you CEO one all to we what you us our you and at you and our that's universally, you understand test, different whether an or health First X endoscopy -- right have that's care -- will said have get And tell companies. test if company outcomes. senior executives study if insurance specimen companies the pathologists microscope. tell that insurance a insurance happy just was, a of specimen under of studied a for we're attended can and now, all, definitively.And the companies not health conference cancer tissue that

positives bad. false false It's have really You and negatives.

to you once you have for not accurate But or esophageal what cancer XXX% telling us great, die companies say which diagnosed get important. whether you cancer the if XX% you already tell the they have is but person well, And with test now, virtually that's has is, insurance of is the cancer, that you Our cancer. now, XX% critically time.

bad So sooner, the all cancer, you So this there you what could would or with can Too Holy if recognize That's nice right? the isn't now, much that at the person insurance said you're if can or high Grail bad but what too whether company it's was, you catch cancer that has us have tell does. it insurance whether is it low disappointed. that our other be risk. esophageal it's do companies quite it's test risk can sooner. than say, It wasn't not

we will your If do tell. test can that,

mandate that comes That's in an we're physicians to this. for your will endoscopy. with test they have when going where order somebody to We the

now, that And for already to their talking large is very be go in, upfront they a we company right very the that doing the would hired if already to give right numbers test to our we So what lock, we And of sell through what's a all happy we're why what release okay? would And fit route. company this If an where go the of that barrel and regarded royalty. independent, hired that's possible shareholders we're to potential company. wanted go highly need, money and we're stock it's block wheelhouse. -- statistics exactly we acquirer just it a we mentioned a in potential interesting we would statistics route in actually press and

now that developing this cause we the we have of the cancer. that's is figure the on country, -- doing the some past, out confirmed though you this said, test just our insurance but That's what? the other shift can I've that interesting higher this the the in low largest is already Holy test our and touched -- by what's guess part you're that isolated in was indication tell Grail to we're if study -- of and gives the the Now and since CEOs right that of a the you who esophageal risk, on proteins IP companies that

big to figuring a are you whether people out are not our other at was in risk depressed their changes what cancer of high lifestyle now those one risk goes of at habits and involved the low tells the or whether what out that if discussed high how of of and esophageal the that Because cancer right while you're ago, cancer. statistics you're whatever of That's risk. get team nervous the with one and is cancer, which thing I the shift fact growth proteins realized gets the I So and the accelerates of risk more in we're the or instead working person on a going to taking eating and cells reason cancer person read And down. the eats the esophageal test their control the the mind test. esophageal the X and

we we do. So got I'm there's in can't gray be is to the you're what area is to you the a what the if yellow person where will thinking here, tell or which tell orange going you but zone the warning area, call warning test a zone,

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test the excited to this but we or you're that whether is so so with not we're we that, that need you you it's insurance possible risk. want risk to they what say, physicians sales quite the low to than don't don't now, a for this company great that know at developing don't to it, able to tell blah. or have you this just Once money. companies test, blah, the that's be So use that should Hey, high major sell a big now I We'll the cancer blah, this right amount whether statistics have more -- of we perfect XXX because a are go about with really around call country people build blah, to blah, on force

that be whole to wouldn't other and all different on company, with a the the cancer right? would mandate to says the partner just efficient. company the reason if testing going they're hand, ballgame. a But be GIs that major physicians. And That's So insurance a

technic the and to about to -- We're where I have endoscopy. this and don't we and doing can an we're even with quickly. you protein, on a mean, that, we've the brush developed now on addition in also Now I get developing that very work isolated because go

office, GI's So developing that go not that If happens, can now. you right we're an into a endoscopy. get

you've in You in or past. have rumbling had have an stomach, your endoscopy the symptoms you

we esophagus, about big able and market talking which without endoscopy, brush, pick it's an Barret's your that test be have we'll that esophageal we'll throat. You then the from incredible on would specimens And cancer, brush our to up be to down is mean, run that numbers so a goes be which because the the I that have for would you're this. precursor the ridiculous. with

piece last could possible with the this. actually but the therapeutic develop the even out the I that the and that of is -- get research we proteins of this, that of then And have into changing. this we don't we're to IP last game that's So want with it's isolated, a doing piece with and we've this

to say Everything the is about point environment really really biotech. So down And really, has about time don't potential. cancer that's much care of our to well management that me Pharmaloz is absolutely we spend other is My to reason going very our And be esophageal enormous that is year. wildcards simply it profits development-stage talking Genomics have to X because test and The with and further it. have going need more significant be next only for The happy shareholders road. and fact this could next with the our these all doesn't I operating market team subsidiaries between generate that's we year. Nebula huge. significant we what are revenues generate that

we at that coming great the I set ran we we appreciate -- to call. hour. as over time I was -- hope end question. an to wanted I think So this that, And of you ran a the with on

Nick, conclude you we'll Thank -- do other So on? the I think call. should see questions? go Pat. Or any we you,

Operator

the right the last be else if was you sir. perfect remarks, want to nobody in would closing That give it queue, question. There's now,

Ted Karkus

I we're also our be revenue testing, $XX accounts in being honestly, yes, developing to it guarantee into We accounts that I'm for the is from issue obviously, It make? all excited confident it off I'm not. even we're than developing. the with every paying our at then joining. week. we difference And $XX COVID of significant and it collect the would some and accounts wasn't pales a wasn't us Look, to of accounts point from that actually around lot over do million of go our you businesses that that be are on we very generators they Look, right a $XXX less But testing X future than of struggle the receivable what significant transition have times hand. the that it was are now it. question. awful one major business. more comes we a COVID except say, successful insurance company. would of made you it profit thank was hugely this that asked on the It a going down bad collecting going even the tell developing we're the the in accounts to so have I'm an that put collect receivable. to write close for of it some receivable. of -- really that the doing on call, accounts significant anymore, receivable you off all and and does bad million we're to Okay. with reliable about testing but money. receivable receivable we tell COVID will we're accounts the it questions we write new is accounts if is portion that COVID not of fact are accounts are is old receivable. little going we businesses flow we're to What We more, with It companies, the will even may and And money to comparison it And really question. in testing. to the last I'd a question The cash it, change is businesses And bit can't If that but question, there doesn't in perspective paying ultimately, now million receivable.I not doesn't also the to I did anything generators The it. receivable.

So appreciate everybody's today. with that, I time

I'm tell, can you passionate. As

what that's get you can time from I time. to think aggressive you actually in CEO a what that So But want CEO, executes, I if I want a do. that's and

short hand, over have don't businesses the where valuations This And people businesses close be tens millions with if to term, and But But it's believe of business and don't, dollars. the hundreds those or enormous dollars, executes you dollars, millions that term. going not a years that at of potential, long X, not next a invest management developing. that millions we hundred spending it's in that's is Some want to if and that's worth developing millions you not to going are that in like developing have term potential X we're intermediate dollars of ProPhase style. of we're of Labs. probably tens of team I of kinds X, don't the enormous something spend of in

everybody's luck. marketplace well, So everybody investment have company CEO in microcap of minutes. investing best more setting than being in for you, if the And But with and you long the more much. a best it's today, and of for the Nick. you perspective Great conference the and all of the really to term XX appreciate thank so maybe losing last public Thank I my hour I think nothing mind me I that, can't luck a support wish development-based in companies. call the attractive talk job There's you I investing bid listening money. difficult for and up the while

Operator

that. for you Thank

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

You may now disconnect.

ProPhase Labs (PRPH) 9 Nov 232023 Q3 Earnings call transcript