ProPhase Labs Q1 revenue down 59% to $19.3M; net income slumps to $0.6M from $12.5M

ProPhase Labs, Inc.

2023-Q1 EPS reported $0.03 revenue$19,303,000

Net revenue $19.3M vs $47.5M YoY; diagnostic services plunged $30.4M as COVID-19 testing dropped from 377K to 120K tests.
Net income $0.6M ($0.03 diluted EPS) vs $12.5M ($0.68) prior year; adjusted EBITDA $3.1M vs $14.6M.
Pharmaloz Manufacturing grew nearly 100% YoY; Nebula Genomics saw over 100% revenue growth.
New $6M stock repurchase program authorized; working capital $42.8M; cash $9.6M.
Acquired exclusive worldwide rights to BE-Smart Esophageal Cancer Test for ~$4.5M ($3.5M cash + $1M stock).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ProPhase Labs, Inc. reported the three months ended March 31, 2023 results: revenue $19.3 million, net income $0.6 million, or $0.03 per diluted share.

Period: the three months ended March 31, 2023
Revenue: $19.3 million
Net income: $0.6 million, or $0.03 per diluted share
Result: reported results

Exact text from the filing

growth. ● Implemented new $6 million stock repurchase program. Financial highlights for the three months ended March 31, 2023, include the following: ● Net revenue of $19.3 million for the three months ended March 31, 2023, as compared to $47.5 million for the three months ended March 31, 2022. ● Net Income of $0.6 million, or $0.03 per diluted share, for

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ProPhase Labs, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-016288

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