ProPhase Labs reports record FY2022 revenue of $122.6M (+55% YoY), net income $18.5M

ProPhase Labs, Inc.

Revenue $122.6M vs $79.0M in 2021 (+55%); net income $18.5M ($1.17 diluted) vs $6.3M ($0.41).
Adjusted EBITDA $38.6M vs $18.1M; includes $5.9M bad debt write-off from HRSA policy change.
Cash & equivalents $9.1M, working capital $44.8M; paid $9.3M dividends, repurchased 1.3M shares for $11.3M.
Subsequent to year-end: acquired exclusive worldwide rights to BE-Smart esophageal cancer test; Board authorized new $6M stock buyback.
Management expects COVID-19 testing to slow but sees growth in Pharmaloz, Nebula Genomics, and BE-Smart test.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ProPhase Labs, Inc. reported the year ended December 31, 2022 results: revenue $122.6 million, net income $18.5 million, EPS $1.17 per diluted share.

Period: the year ended December 31, 2022
Revenue: $122.6 million
Net income: $18.5 million
EPS: $1.17 per diluted share
Result: reported results

Exact text from the filing

Financial highlights for the full year ended December 31, 2022, include the following: ● Net revenue of $122.6 million for the year ended December 31, 2022, as compared to $79.0 million for the year ended December 31, 2021, an increase of approximately 55%. ● Net Income of $18.5 million, or $1.17 per diluted share, for the year ended December 31, 2022, as compared to net income of $6.3 million, or $0.41 per share, for the year ended December 31, 2021.

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ProPhase Labs, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-009202

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