---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-016288"
form_type: "8-K"
ticker: "PRPH"
cik: "0000868278"
company_name: "ProPhase Labs, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T05:27:19.367468+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.82
calibrated_materiality_score: 0.82
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001493152-23-016288
- form_type: 8-K
- ticker: PRPH
- cik: 0000868278
- company_name: ProPhase Labs, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.82
- calibrated_materiality_score: 0.82
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/868278/000149315223016288/0001493152-23-016288-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/868278/000149315223016288/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-016288
- JSON: https://secwatch.observer/filing/0001493152-23-016288.json
- Plain text: https://secwatch.observer/filing/0001493152-23-016288.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/868278/000149315223016288/0001493152-23-016288-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.