Precipio (PRPO) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $7.0M in Q2 2026, marking the first time surpassing this milestone and representing a 22–24% year-over-year increase.

• Returned to positive adjusted EBITDA of $0.4M, a significant improvement from prior quarters.

• Generated $0.7M in operating cash flow, with quarter-end cash exceeding $3M, up from $1.1M a year earlier.

• Business model leverages a synergistic relationship between pathology and product divisions, driving innovation, scalability, and operational stability.

• Processed 4,652 cases in Q2 2026, up 26% year-over-year.

Financial highlights

• Q2 2026 revenue was $7.0M, up from $6.7M in Q1 and 22–24% higher year-over-year from $5.7M in Q2 2025.

• Pathology division revenue reached $6.1M, a modest sequential increase.

• Product division revenue hit $0.9M, up 35% from the prior quarter and 21% above the previous record.

• Q2 2026 gross profit was $3.1M (45% margin), up from $2.4M (43% margin) in Q2 2025.

• Net loss (GAAP) was $(0.2)M in Q2 2026, compared to $0.1M in Q2 2025.

Outlook and guidance

• Expectation of continued revenue growth in the second half of 2026, building on the $7M quarterly threshold.

• Focus on expanding product revenue and converting commercial pipeline into active accounts.

• Continued emphasis on operating leverage to translate revenue growth into EBITDA and cash generation.

• Substantial doubt remains about ability to continue as a going concern over the next 12 months without additional revenue growth or financing.

• Ongoing evaluation of the impact of the One Big Beautiful Bill Act of 2025 and macroeconomic/geopolitical risks.