Tue, Apr 1, 10:01 AM (29 days ago)
**Summary of ProPhase Labs, Inc. (PRPH) 2024 Annual Report** **Financial Performance:** - **Revenue:** $6.8 million (2023: $35.0 million) - **Net Loss:** $53.4 million (2023: $16.8 million) - **Gross Margin:** -2.2% (2023: 44.5%) - **Operating Expenses:** $38.5 million (2023: $36.8 million) - **Cash and Cash Equivalents:** $0.7 million (2023: $1.6 million) **Strategic Overview:** - **Business Segments:** Diagnostic services, consumer products (including genomics, biopharma, and dietary supplements). - **Key Products:** BE-Smart Esophageal Pre-Cancer Diagnostic, Nebula Genomics, Linebacker LB-1 and LB-2, TK Supplements. - **Recent Developments:** Sale of Pharmaloz Manufacturing, Inc. (PMI) in January 2025. **Future Outlook:** - **Growth Strategy:** Focus on genomics, biopharma, and dietary supplements. Plans to increase sales through decreased pricing, reduced turnaround times, and expanded distribution. - **Risk Factors:** Dependence on COVID-19 testing, regulatory challenges, competition, and financial condition. **Risk Factors:** - **Financial:** Significant net losses, limited cash on hand, dependence on additional funding. - **Operational:** Competition, regulatory compliance, supply chain disruptions, product liability risks. - **Market:** Dependence on COVID-19 testing, seasonal fluctuations, market acceptance of new products. **Financial Condition:** - **Liquidity:** $0.7 million in cash and cash equivalents. Estimated to have enough cash for at least 12 months. - **Debt:** $14.9 million in outstanding indebtedness, net of discounts. **Market Position Changes:** - **Listing:** Common stock listed on Nasdaq Capital Market under the symbol "PRPH." - **Delisting Risk:** Potential delisting if the stock price remains below $1.00 per share. **Note:** Amounts are usually in thousands, $000s.