{"id":786808,"date":"2023-09-28T12:31:39","date_gmt":"2023-09-28T16:31:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/precipio-continues-to-sign-new-hemescreen-customers\/"},"modified":"2023-09-28T12:31:39","modified_gmt":"2023-09-28T16:31:39","slug":"precipio-continues-to-sign-new-hemescreen-customers","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/precipio-continues-to-sign-new-hemescreen-customers\/","title":{"rendered":"Precipio Continues to Sign New HemeScreen\u2122 Customers"},"content":{"rendered":"

\nNew customer orders received in Q3 exceed $1M annualized revenue
\n<\/h2>\n
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NEW HAVEN, Conn., Sept. 28, 2023 (GLOBE NEWSWIRE) — Specialty cancer diagnostics company\u00a0Precipio, Inc.<\/u><\/a>\u00a0(NASDAQ: PRPO)<\/u><\/a> announced that new customer orders are expected to bring total Q4 HemeScreen revenues to an estimated $1.2M.<\/p>\n

In a recent announcement<\/u><\/a>, the company announced that the product revenue necessary to reach cash flow breakeven has been reduced to $6M annualized run rate, or $1.5M\/quarter. As of today, Precipio forecasts product revenue in Q4 which is within $300,000 of quarterly cash flow breakeven. Adding these new customers brings the company to approximately $1.2M in product revenue, or 80% of that goal.<\/p>\n

Company conversion rate data shows a very high close rate once the company\u2019s sales team gets in front of the customer and presents the product and its value proposition. Ilan Danieli, CEO, said, “We are working on increased collaboration with our channel partners to open more doors, as well as help our customers shorten the decision-making timeline and adoption cycle.\u201d<\/p>\n

Precipio\u2019s data shows, however, that very few customers decline the solution, or go with a different manufacturer. As the company continues to grow and improve the effectiveness of its sales and marketing efforts, management expects to capture a significant portion of this $400M TAM.<\/p>\n

\u201cWe are seeing repeated confirmation that our HemeScreen product line stands head & shoulders above competition and alternative diagnostic products when it comes to robustness, ease of use, and economics, and this has translated into a very high close rate,\u201d said Ilan Danieli, CEO. \u201cAlthough the sales cycle is often lengthy, the good news is that the adoption rate is high. This tells us that it is not a matter of \u201cif\u201d, but rather a matter of \u201cwhen\u201d the laboratory becomes our customer. I am encouraged by these results which move us closer to meeting our short-term cash flow breakeven goals; as well as an indication of our ability to capture substantial market share.\u201d<\/p>\n

\n About Precipio<\/strong>\n <\/p>\n

Precipio has built a platform designed to eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide, as well as proprietary products that serve laboratories worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more information, please visit\u00a0www.precipiodx.com<\/u><\/a>.<\/p>\n

Please follow us on LinkedIn<\/u><\/a>, Twitter @PrecipioDx<\/u><\/a> and on Facebook<\/u><\/a>.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This press release contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, including other financial projections and potential market opportunity, plans and prospects. Except for historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, plans, objectives, expectations, growth or profitability are forward-looking statements based on management\u2019s estimates, beliefs, assumptions and projections. Words such as \u201ccould,\u201d \u201cmay,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cwill,\u201d \u201ctargets,\u201d \u201cgoals,\u201d \u201cprojects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic and financial performance, are intended to identify such forward-looking statements. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. We caution investors not to place undue reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties Important factors that could affect performance and cause results to differ materially from management\u2019s expectations, or could affect the company\u2019s ability to achieve its strategic goals, includes factors that are described in the sections entitled \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis\u201d in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as updated from time to time in the company\u2019s Securities and Exchange Commission filings. The company\u2019s forward-looking statements in this press release are based on management\u2019s current views, beliefs, assumptions and expectations regarding future events and speak only as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the federal securities laws.<\/p>\n


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\n \n <\/div>\n

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Inquiries:\r\n\r\ninvestors@precipiodx.com\r\n\r\n+1-203-787-7888 Ext. 523<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
New customer orders received in Q3 exceed $1M annualized revenue NEW HAVEN, Conn., Sept. 28, 2023 (GLOBE NEWSWIRE) — Specialty cancer diagnostics company\u00a0Precipio, Inc.\u00a0(NASDAQ: PRPO) announced that new customer orders are expected to bring total Q4 HemeScreen revenues to an estimated $1.2M. In a recent announcement, the company announced that the product revenue necessary to reach cash flow breakeven has been reduced to $6M annualized run rate, or $1.5M\/quarter. As of today, Precipio forecasts product revenue in Q4 which is within $300,000 of quarterly cash flow breakeven. Adding these new customers brings the company to approximately $1.2M in product revenue, or 80% of that goal. Company conversion rate data shows a very high close rate once the company\u2019s sales team … <\/p>\n
Continue reading “Precipio Continues to Sign New HemeScreen\u2122 Customers”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-786808","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPrecipio Continues to Sign New HemeScreen\u2122 Customers - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/precipio-continues-to-sign-new-hemescreen-customers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Precipio Continues to Sign New HemeScreen\u2122 Customers - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New customer orders received in Q3 exceed $1M annualized revenue NEW HAVEN, Conn., Sept. 28, 2023 (GLOBE NEWSWIRE) — Specialty cancer diagnostics company\u00a0Precipio, Inc.\u00a0(NASDAQ: PRPO) announced that new customer orders are expected to bring total Q4 HemeScreen revenues to an estimated $1.2M. In a recent announcement, the company announced that the product revenue necessary to reach cash flow breakeven has been reduced to $6M annualized run rate, or $1.5M\/quarter. As of today, Precipio forecasts product revenue in Q4 which is within $300,000 of quarterly cash flow breakeven. Adding these new customers brings the company to approximately $1.2M in product revenue, or 80% of that goal. 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