Interpace Biosciences (IDXG) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue increased 13% year-over-year to $11.5 million, driven by record thyroid test volume and higher test volumes overall.

• Net income rose to $1.65 million from $0.71 million in Q1 2024, with operating income from continuing operations at $1.8 million.

• Cash collections reached a record $11.3 million, up 10% year-over-year.

• Investments in lab efficiency, AI, and automation supported operational improvements and debt reduction.

• Loss of Medicare coverage for PancraGEN® led to a restructuring plan, including workforce reduction and expected severance costs of $0.5–$0.6 million in Q2 2025.

Financial highlights

• Revenue: $11.5 million, up from $10.2 million year-over-year.

• Gross profit: $7.4 million (64% margin), up from $6.3 million (62% margin) year-over-year.

• Operating income: $1.8 million, up from $1.1 million year-over-year.

• Net income: $1.65 million, up from $0.71 million year-over-year.

• Adjusted EBITDA: $2.1 million, up from $1.2 million year-over-year.

Outlook and guidance

• Full-year 2025 revenue guidance set at $38 million, despite PancraGEN® revenue loss after May 2, 2025.

• Restructuring plan to be substantially completed by end of Q2 2025, with $0.5–$0.6 million in severance costs expected in Q2.

• Management expects current cash and forecasted receipts to cover needs for the next twelve months.

• Exploring strategic alternatives and funding options to enhance liquidity.