Precipio posts record Q2 revenue and returns to positive Adjusted EBITDA

Precipio reported second-quarter 2026 revenue of $7.0 million, its highest quarterly total, and said it returned to positive Adjusted EBITDA while ending the period with more than $3 million in cash. The New Haven cancer diagnostics company said the results reflect stronger customer growth and improving operating momentum.

Why it matters: - Precipio's second-quarter results show the company scaling revenue while improving profitability metrics. - The quarter marked a new revenue high, which can help support operations without immediate external financing. - A stronger cash balance gives Precipio more room to fund growth and operations.

What happened: - Precipio reported second-quarter 2026 financial results for the period ended June 30, 2026. - Revenue reached $7.0 million, up from $6.7 million in Q1 2026 and $5.7 million in Q2 2025. - The company said quarterly revenue surpassed $7 million for the first time in its history. - Adjusted EBITDA was $0.4 million, compared with a loss of $0.2 million in Q1 2026. - Cash flow from operations was $0.7 million in Q2 2026. - Total cash increased by $0.5 million during the quarter. - Cash at the end of the quarter exceeded $3 million, compared with $1.1 million in Q2 2025.

The details: - Pathology revenue was $6.1 million, up from $6.0 million in Q1 2026. - Product revenue was $0.9 million, up from $0.66 million in Q1 2026. - Product revenue increased 21% from the prior high of $750,000 in Q4 2025. - The improvement in Adjusted EBITDA was driven by $0.3 million in higher revenue and a $0.2 million decline in stock-based compensation expense. - GAAP net loss was $0.2 million in Q2 2026, compared with net income of $0.1 million in Q2 2025. - EBITDA was $0.0 million in Q2 2026, compared with $0.4 million in Q2 2025. - Stock-based compensation expense was $0.8 million in Q2 2026, compared with $0.4 million in Q2 2025. - Other significant income and expenses were $(0.4) million in Q2 2026, compared with $(0.9) million in Q2 2025. - Precipio defines Adjusted EBITDA as EBITDA excluding non-cash employee stock option costs and unusual non-operating income and expense. - The company filed its Form 10-Q the same day as the earnings release. - Precipio is a specialty cancer diagnostics company focused on improving accuracy, laboratory workflow and patient outcomes. - The company operates from New Haven, Connecticut, and trades on Nasdaq under the symbol PRPO. - More information is available in the company's profile and on Precipio's website.

Between the lines: - The results point to a business that is gaining operating leverage as revenue rises faster than certain costs. - Management framed the quarter as a recovery phase, with customer growth supporting higher sales and cash generation. - Precipio said it reached more than $3 million in cash without a financing event, which suggests the quarter's cash strength came from operations rather than new capital. - The company is still reporting a GAAP net loss, so the improvement is not yet a full earnings turnaround.

What's next: - Precipio planned a shareholder call on August 17, 2026, at 5 p.m. ET to discuss the quarter in more detail. - Management said the call would include comments on the core business and a moderated Q&A session. - Investors will be watching whether revenue growth and positive Adjusted EBITDA continue in coming quarters.

The bottom line: - Precipio delivered a record revenue quarter, positive Adjusted EBITDA and a stronger cash position, but the company still needs to prove the gains can hold beyond one quarter.