NEW HAVEN, Conn., May 14, 2026 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ:PRPO), announces financial results for the first quarter ended March 31, 2026.

Below are some of the key financial performance metrics for the Company. Please see the Company's Form 10-Q which was filed today for additional details.

Revenue – $6.71M (vs. $6.69M in Q4-2025; $4.93M in Q1-2025). This was comprised of $6.05M in pathology revenue (up from $5.9M in Q4) and $0.66M in product revenue (down from $0.74M in Q4). The product revenue decline is temporary, and was largely driven by delayed shipment to one of the Company's largest product customers, shifting revenue recognized to Q2.
Adjusted EBITDA – $(0.16) million (vs. $0.96 million in Q4 2025). The change was driven by several factors highlighted below, and which will be addressed in more detail on the Company shareholder call on Monday, May 18th.
- Pathology gross profit decreased due to CMS cuts ($125K)
- Product gross profit decreased ($280K), largely due to a customer request to delay shipment to Q2
- Increased cost due to hiring of product business development team ($250K impact)
- Q4-2025 had a one-time benefit due to year-end reversal of management annual bonus accruals (~$360K)
Cash flow - Cash Flow from operations was positive $60,000; total cash burn was $47,000. This was largely driven by two factors:
- Annual bonus payments and beginning-of-year expenses for various service agreements
- Slower collections due to patient deductible resets at the start of the year

"I think this quarter is a good example of how to properly assess non-commercial fluctuations in our business," said Ilan Danieli, CEO of Precipio. "While revenue is flat, that is largely a function of timing. The underlying business fundamentals continue to grow, in particular the product pipeline that has been generated by our newly hired commercial team."

Additional information and a more in-depth discussion on the Company's Q1-2026 performance will be provided in the shareholder call on May 18th, 2026, at 5 PM ET. The call will include remarks on the Company's core business as well as a moderated Q&A session at the end of the Company's remarks.

EBITDA and Adjusted EBITDA Reconciliation and Explanation

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a non-GAAP financial measure that is widely used to evaluate operational performance and pre-tax profitability of emerging growth companies like ours. Management believes Adjusted EBITDA provides investors with a useful perspective on the Company's financial health, particularly where non-cash amortization has an important impact on profitability.

Adjusted EBITDA as we define it modifies EBITDA by excluding the non-cash costs of employee stock options and unusual non-operating income and expense. Below is a reconciliation of Net Income, EBITDA and Adjusted EBITDA for the first quarter of 2026 and 2025:

($ in millions, unaudited)	Q1-26		Q1-25
Net income/(loss) (GAAP)	$(1.4	)	$(0.9	)
Adjustments to net income/(loss):
Interest expense, net	$0.0		$0.0
Income taxes	$0.0		$0.0
Depreciation	$0.0		$0.1
Amortization of intangibles	$0.2		$0.3
EBITDA (non-GAAP)	$(1.2	)	$(0.5	)
Further Adjustments to EBITDA
Stock-based compensation expense	$1.0		$0.4
Other significant (income) expenses	$0.0		$0.0
Adjusted EBITDA (non-GAAP)	$(0.2	)	$(0.1	)

About Precipio

Precipio is a healthcare biotechnology company focused on cancer diagnostics. Our mission is to address the pervasive problem of cancer misdiagnoses by developing solutions in the form of diagnostic products and services. Our products and services deliver higher accuracy, improved laboratory workflow, and ultimately better patient outcomes, which reduce healthcare expenses. Precipio develops innovative technologies in our laboratory where we design, test, validate, and use these products clinically, improving diagnostic outcomes. Precipio then commercializes these technologies as proprietary products that serve the global laboratory community and further scales Precipio's reach to eradicate misdiagnosis.

Availability of Other Information About Precipio

For more information, please visit the Precipio website at https://www.precipiodx.com/ or follow Precipio on X (formerly Twitter) (@PrecipioDx) and LinkedIn (Precipio) and on Facebook. Investors and others should note that we communicate with our investors and the public using our company website (https://www.precipiodx.com), including, but not limited to, company disclosures, investor presentations and FAQs, Securities and Exchange Commission filings, press releases, public conference call transcripts and webcast transcripts, as well as on X and LinkedIn. The information that we post on our website or on X or LinkedIn could be deemed to be material information. As a result, we encourage investors, the media and others interested to review the information that we post there on a regular basis. The contents of our website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the targets set herein and related timing. Except for historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, adjusted EBITDA, plans, objectives, expectations, growth or profitability and our potential to reach financial independence are forward-looking statements based on management's estimates, beliefs, assumptions and projections. Words such as "could," "may," "expects," "anticipates," "will," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "predicts," and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic and financial performance, are intended to identify such forward-looking statements. These forward-looking statements are only predictions based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and our other reports filed with the U.S. Securities and Exchange Commission. Any such forward-looking statements represent management's estimates as of the date of this press release only. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Inquiries:

investors@precipiodx.com

+1-203-787-7888 Ext. 523

Precipio Announces Q1 2026 Financial Results