Quarterly ResultMay 12, 2026, 04:38 PM
Interpace Biosciences Q1 Net Income $721K; Series C Converted to Common Stock
AI Summary
Interpace Biosciences reported a net income of $721K for Q1 2026, a significant decrease from $1.65M in Q1 2025, with net revenue falling to $9.03M from $11.52M. The company also announced the conversion of all Series C Preferred Stock into approximately 23.27 million shares of Common Stock in January 2026, substantially increasing outstanding shares and concentrating ownership among two private equity investors. The company continues to focus on thyroid cancer tests following the discontinuation of its PancraGEN test due to CMS reimbursement changes.
Key Highlights
- Net income for Q1 2026 was $721K, down 56.2% from $1.65M in Q1 2025.
- Net revenue for Q1 2026 decreased by 21.6% to $9.03M from $11.52M in Q1 2025.
- All Series C Preferred Stock converted into 23.27M Common Stock shares on January 20, 2026.
- Total Common Stock shares outstanding increased to 27.70M as of March 31, 2026.
- Two private equity investors now control 84% of outstanding Common Stock.
- Adjusted EBITDA for Q1 2026 was $1.56M, a 25.6% decrease from $2.10M in Q1 2025.
- Cash and cash equivalents increased to $2.65M at March 31, 2026, from $2.51M at December 31, 2025.
- Net cash provided by operating activities decreased by 77.1% to $283K in Q1 2026.