secwatch.observer — SEC 8-K summary
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Issuer:     ProPhase Labs, Inc. (PRPH)
CIK:        0000868278
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001493152-23-016288
Event type: earnings
Sentiment:  negative
Materiality: 0.82
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/868278/000149315223016288/0001493152-23-016288-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/868278/000149315223016288/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-016288

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer