Precipio, Inc. (PRPO) on Q1 2021 Results - Earnings Call Transcript
Operator: Good day and welcome to the Precipio’s Shareholder First Quarter 2021 Shareholder Update Conference Call. All participants will be in a listen-only mode. Please note that the conference is being recorded. Statements made during this call contain forward-looking statements about our business. You should not place undue reliance on forward-looking statements as these statements are based on upon our current expectations, forecasts, and assumptions, and are subject to significant risk and uncertainties. These statements may be identified by words such as may, will, should, could, expect, intend, plan, anticipate, believe, estimate, predict, potential, forecast, continue or the negative of these terms or other words or terms of similar meaning. Risk and uncertainties that could cause our actual results to differ materially from those set forth in any forward-looking statements may include, but are not limited to the matters listed under Risk Factors in our annual report on Form 10-K for the year ended December 31 of 2020, which is on file with the Securities and Exchange Commission, as well as the other risk detailed in our subsequent filings with the Securities and Exchange Commission.
Ilan Danieli: Thank you very much. Good afternoon, everyone and thanks for joining our Q1 2021 shareholder call. On this call, I'll provide a recap of our Q1 activity and an update on the progress our company has made since the start of the year and our thoughts going forward in 2021. Let's start with pathology services. Following the doubling of our annual revenue in 2020 from the previous year, Q1 shows continued growth with an increase of approximately 50% in Q1 2021 revenues over the same period last year in 2020 from 1.2 million to 1.8 million. We've also seen an increase in the number of patient cases received of approximately 70% in Q1 2021 over the same period in 2020. Now, let me give you some color behind those numbers. Although the situation regarding the pandemic appears to be easing up in several regions, many of our existing customers and certainly potential new customers have maintained a policy of not allowing visits by sales teams, which continue to make it challenging to both maintain these existing relationships and create new ones. Within that context, our team's ability to continue to grow our revenues is a testament to its ability to deliver our value proposition to our customers. So, what are the key drivers that enable us to continue achieving this growth? There are several factors I'd like to highlight for you today. First and foremost, we have a dedicated team that believes in our vision and delivers that message to our customers every day. Among our sales team, we have cancer survivors, we have people who have experienced the tragedy of misdiagnosis and how it can derail a patient’s battle against cancer. To borrow from one of my favorite speakers, the talented, Simon Sinek, this is our why. This is the reason we get up for work every day. That passion resonates throughout the team and its power is felt by our customers. Second, we have a strongly differentiated value proposition. While our lab competes for – while other labs compete for price cost and see the results, we focus on accuracy.
Operator: The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.
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