Interpace Biosciences (IDXG) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue declined 23% year-over-year to $9.2M, mainly due to PancraGEN® Medicare coverage loss; net loss was $0.6M compared to net income of $2.4M in Q2 2024.

• Six-month revenue fell 7% year-over-year to $20.7M; net income for the period was $1.0M, down from $3.1M in the prior year.

• Record thyroid test volume and revenue, with thyroid revenue up 25% year-over-year to $8.7M, offsetting some PancraGEN® impact.

• Loss from continuing operations was $0.5M, including $1.2M in one-time charges related to PancraGEN® wind-down.

• Restructuring plan implemented in response to PancraGEN® loss, resulting in $0.7M in severance and related costs in H1 2025.

Financial highlights

• Gross margin for Q2 2025 was 57%, down from 65% in Q2 2024; six-month gross margin was 61%, down from 64%.

• Operating loss from continuing operations in Q2 2025 was $0.5M, compared to operating income of $2.6M in Q2 2024.

• Adjusted EBITDA for Q2 2025 was $0.4M, down from $2.8M in Q2 2024; for the six months, Adjusted EBITDA was $2.5M, down from $4.0M.

• Cash and cash equivalents as of June 30, 2025 were $0.5M; current assets totaled $9.5M, current liabilities $7.1M.

• Net cash provided by operating activities for H1 2025 was $1.8M; cash used in financing activities was $2.5M, mainly for loan repayments.

Outlook and guidance

• Management anticipates current cash and forecasted receipts will be sufficient for the next twelve months despite PancraGEN® loss.

• Positive trends in thyroid testing and revenue growth are expected to continue into Q3 and beyond, with July 2025 revenue preliminary results up 54% year-over-year.

• The company is exploring strategic alternatives and funding options due to capital constraints and delisting from Nasdaq.