Precipio Inc (NASDAQ: PRPO) is having a great start to the trading session this morning, and for good reason. The company provided a preliminary update with regard to its financial results and path toward profitability. Today, we’ll talk about:
- The update;
- what we’re seeing from PRPO stock as a result; and
- what we’ll be watching for ahead.
PRPO Provides A Financial Update
As mentioned above, Precipio is having a great start to the trading session this mroning after the company announced preliminary financial results.
In a press release issued early this morning, the company said that preliminary, unaudited 2018 revenues came in at $2.8 million. That figure represents 66% growth over 2017 revenues of $1.7 million.
PRPO also pointed to the fact that the fourth quarter showed strong movement toward the company’s goal of reaching profitability. Ultimately, the company experienced improvements in its financial performance as year over year growth was clocked in beside a reduction of costs.
In the release, the company said that it will continue to deploy its efficiency opportunities and anticipates further improvement that will impact its financial performance in the current year.
The company is expecting continued revenue growth in its pathology business and pharma projects. It is also expecting to see new product revenue from HemeScreen and IV-Cell, two recently launched proprietary technologies that the company believes will drive growth.
In a statement, Ilan Danieli, CEO at PRPO, had the following to offer:
Achieving a clear path to profitability is the chief goal of the management team. While we are pleased with the direction of these results, we are far from finished with the process of reducing expenses for the company while growing the top line, and increasing gross margins. We are focused on generating shareholder value. Our goal for 2019 is significant progress toward the company standing on its own feet.
What We’re Seeing From The Stock
As we get started in the market, one of the first lessons that we learn is that it’s important to follow the news. After all, it’s the news that leads to moves in the market. In the case of Precipio, the news proved to be overwhelmingly positive. After all, investors are ultimately investing for growth, and the preliminary results that were released today show just that. So, it’s not a surprise to see that excited investors are pushing the stock upward. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:05), PRPO is trading at $0.20 per share after a gain of $0.03 per share or 17.44% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PRPO. In particular, we’re interested in following the company’s continued work to expand revenues while bringing these stronger figures down to the bottom line with cost-cutting measures. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!