Interpace Biosciences Announces Second Quarter 2025 Financial and Business Results

Rhea-AI Summary

Interpace Biosciences (OTCQX:IDXG) reported mixed Q2 2025 financial results, with net revenue of $9.2 million, down 23% year-over-year. Despite overall revenue decline, the company achieved record thyroid testing performance, with volume up 16% and revenue up 25% year-over-year to $8.7 million.

The company reported a Q2 loss from continuing operations of $0.5 million, compared to income of $2.5 million in Q2 2024, primarily impacted by $1.2 million in one-time charges related to PancraGEN testing discontinuation. Cash collections remained strong at $10.8 million, and preliminary July 2025 revenue showed a 54% year-over-year increase to $3.3 million.

Interpace is transitioning to focus exclusively on thyroid testing, following the loss of PancraGEN reimbursement. The company maintains a positive outlook for Q3 2025 and beyond as a thyroid-only diagnostics business.

Positive

• Record thyroid test volume with 16% year-over-year growth
• Thyroid revenue increased 25% year-over-year to $8.7M
• Strong cash collections of $10.8M in Q2 2025
• Preliminary July 2025 revenue up 54% year-over-year to $3.3M
• Strategic investments in lab operational efficiency and AI automation

Negative

• Net revenue decreased 23% year-over-year to $9.2M
• Loss from continuing operations of $0.5M vs $2.5M income in prior year
• Gross profit margin declined to 57% from 65% year-over-year
• Loss of reimbursement for PancraGEN testing
• Cash and cash equivalents declined to $502K from $1.46M at year-end 2024

	●	Q2 Revenue of $9.2 million
	●	Q2 Cash Collections of $10.8 million
	●	Q2 Thyroid test volume up 16% year-over-year to record levels
	●	Q2 Thyroid revenue of $8.7M; up 25% year-over-year to record levels

PARSIPPANY, NJ, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Interpace Biosciences, Inc. (“Interpace” or the “Company”) (OTCQX: IDXG) today announced financial results for the second quarter ended June 30, 2025 and provided a business and financial update.

Second quarter Net Revenue was $9.2 million. Loss from continuing operations in the second quarter of 2025 was $0.5 million. “The Company achieved record Thyroid test volume, revenue, cash collections in the second quarter of 2025 driven by increased volume and collection initiatives. Our second quarter results were impacted by the loss of reimbursement for our PancraGEN^® testing. The reported loss includes one-time charges of $1.2 million associated with the wind-down of PancraGEN^® as we complete our transition to a company focused on Thyroid testing,” said Chris McCarthy, Chief Financial Officer. “Our strong cash position enabled strategic investments in lab operational efficiency, leveraging our AI and automation digital strategy, and allowed us to further strengthen our balance sheet through additional principal payments on our long-term debt agreement. The positive trends seen in Q2 have continued into the third quarter. Preliminary revenue for July 2025 was $3.3 million, marking a substantial 54% increase compared to July 2024.” McCarthy added.

“Despite the loss of reimbursement for the Company’s PancraGEN test, Q2 2025 represented another quarter of year-over- year double digit Thyroid volume and revenue growth,” stated Tom Burnell, President and CEO. “We are excited about the Company’s continued growth in revenue, profitability and cash flow as a thyroid only clinical diagnostics business, which will be more adequately reflected in Q3 and beyond”, added Burnell. Further, Burnell said, “the strength and resiliency of the Interpace team, coupled with their ability to anticipate and prepare for change, has made for a smooth transition away from the unwarranted challenges as a result of loss of PancraGEN reimbursement to a thriving thyroid testing business”.

Second Quarter 2025 Financial Performance

For the Second Quarter of 2025 as Compared to the Second Quarter of 2024

	●	Net Revenue was $9.2 million, a decrease of 23% from $12.0 million for the prior year quarter
	●	Gross Profit percentage was 57% compared to 65% for the prior year quarter
	●	Gross Profit percentage without one-time impact related to PancraGEN reimbursement loss was 65%
	●	Operating loss was $0.5 million vs operating income of $2.6 million in the prior year quarter
	●	Loss from continuing operations was $0.5 million vs income from continuing operations of $2.5 million in the prior year quarter
	●	Loss from continuing operations includes $1.2 million one-time impact related to PancraGEN reimbursement loss
	●	Adjusted EBITDA was $0.4 million vs $2.8 million in the prior year quarter
	●	Q2 2025 cash collections totaled $10.8 million compared to $11.0 million in the prior year quarter

About Interpace Biosciences

Interpace Biosciences is an emerging leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.

Clinical services, through Interpace Diagnostics, provide clinically useful molecular diagnostic tests and bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has three commercialized molecular tests and one test in a clinical evaluation program (CEP): ThyGeNEXT^® for the diagnosis of thyroid cancer from thyroid nodules utilizing a next-generation sequencing assay; ThyraMIR^®v2, used in combination with ThyGeNEXT^®, for the diagnosis of thyroid cancer utilizing a proprietary microRNA pairwise expression profiler along with algorithmic classification; and RespriDX^®, that differentiates lung cancer of primary versus metastatic origin. In addition, BarreGEN^®, a molecular-based assay that helps resolve the risk of progression of Barrett’s Esophagus to esophageal cancer, is currently in a CEP, whereby we gather information from physicians using BarreGEN^® to assist us in gathering clinical evidence relative to the safety and performance of the test and also providing data that will potentially support payer reimbursement.

For more information, please visit Interpace Biosciences’ website at www.interpace.com.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company’s future financial and operating performance. The Company has attempted to identify forward-looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statements, including, but not limited to, the possibility that the Company’s estimates of future revenue, cash flows and adjusted EBITDA may prove to be materially inaccurate, the Company’s prior history of operating losses, the Company’s ability to adequately finance its business and seek alternative sources of financing, the Company’s ability to repay borrowings from BroadOak, the Company’s dependence on sales and reimbursements from its clinical services, the Company’s ability to retain or secure reimbursement including its reliance on third parties to process and transmit claims to payers and the adverse impact of any delay, data loss, or other disruption in processing or transmitting such claims, the Company’s revenue recognition being based in part on estimates for future collections which estimates may prove to be incorrect, and the Company’s ability to restructure itself in light of the loss of reimbursement for its PancraGEN product.

Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as amended, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Contacts:

Investor Relations
Interpace Biosciences, Inc.
(855)-776-6419
Info@Interpace.com

INTERPACE BIOSCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in thousands, except per share data)

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2025				2024				2025				2024
Revenue, net		$	9,232			$	12,042			$	20,747			$	22,219
Cost of revenue			3,956				4,236				8,101				8,102
Gross Profit			5,276				7,806				12,646				14,117
Sales and marketing			2,910				2,887				5,723				5,707
Research and development			173				146				350				283
General and administrative			2,661				2,141				5,211				4,381
Total operating expenses			5,744				5,174				11,284				10,371
Operating (loss) income			(468	)			2,632				1,362				3,746
Interest accretion expense			-				(12	)			-				(30	)
Note payable interest			(49	)			(176	)			(127	)			(373	)
Other (expense) income, net			(16	)			71				4				(12	)
(Loss) income from continuing operations before  tax			(533	)			2,515				1,239				3,331
Provision for income taxes			-				4				18				8
(Loss) income from continuing operations			(533	)			2,511				1,221				3,323
Loss from discontinued operations, net of tax			(107	)			(74	)			(214	)			(178	)
Net (loss) income		$	(640	)		$	2,437			$	1,007			$	3,145
Basic income (loss) per share of common stock:
From continuing operations		$	(0.12	)		$	0.57			$	0.28			$	0.76
From discontinued operations			(0.02	)			(0.02	)			(0.05	)			(0.04	)
Net income (loss) per basic share of common stock		$	(0.14	)		$	0.56			$	0.23			$	0.72
Diluted income (loss) per share of common stock:
From continuing operations		$	(0.12	)		$	0.57			$	0.04			$	0.76
From discontinued operations			(0.02	)			(0.02	)			(0.01	)			(0.04	)
Net income (loss) per diluted share of common stock		$	(0.14	)		$	0.55			$	0.04			$	0.72
Weighted average number of common shares and
common share equivalents outstanding:
Basic			4,423				4,376				4,422				4,373
Diluted			4,423				4,401				27,697				4,393

Selected Balance Sheet Data (Unaudited)
($ in thousands)

		June 30,				December 31,
		2025				2024
Cash and cash equivalents		$	502			$	1,461
Total current assets			9,504				11,773
Total current liabilities			7,149				10,615
Total assets			12,335				14,792
Total liabilities			13,548				17,009
Total stockholders' deficit			(1,213	)			(2,217	)

Selected Cash Flow Data (Unaudited)
($ in thousands)

		For the Six Months Ended
		June 30,
		2025				2024
Net income		$	1,007			$	3,145
Net cash provided by operating activities		$	1,755			$	1,346
Net cash used in investing activities			(201	)			(225	)
Net cash used in financing activities			(2,513	)			(2,600	)
Change in cash and cash equivalents			(959	)			(1,479	)
Cash and cash equivalents  – beginning			1,461				3,498
Cash and cash equivalents  – ending		$	502			$	2,019

Reconciliation of Adjusted EBITDA (Unaudited)
($ in thousands)

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2025				2024				2025				2024
(Loss) income from continuing operations (GAAP Basis)		$	(533	)		$	2,511			$	1,221			$	3,323
Depreciation and amortization			101				67				196				119
Stock-based compensation			9				53				24				132
Severance & related expense			524				-				692				-
Asset impairment - lab supplies			198				-				198				-
Taxes expense			-				4				18				8
Interest accretion expense			-				12				-				30
Note payable interest			49				176				127				373
Other expense/income, net			10				(14	)			14				(29	)
Change in fair value of note payable			7				(57	)			(18	)			41
Adjusted EBITDA		$	365			$	2,752			$	2,472			$	3,997

Non-GAAP Financial Measures

In addition to the United States generally accepted accounting principles, or GAAP, results provided throughout this document, we have provided certain non-GAAP financial measures to help evaluate the results of our performance. We believe that these non-GAAP financial measures, when presented in conjunction with comparable GAAP financial measures, are useful to both management and investors in analyzing our ongoing business and operating performance. We believe that providing the non-GAAP information to investors, in addition to the GAAP presentation, allows investors to view our financial results in the way that management views financial results.

In this document, we discuss Adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is a metric used by management to measure cash flow of the ongoing business. Adjusted EBITDA is defined as income or loss from continuing operations, plus depreciation and amortization, non-cash stock-based compensation, severance expense, interest and taxes, and other non-cash expenses including change in fair values of notes payable. The table above includes a reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure.

FAQ

What were Interpace Biosciences (IDXG) Q2 2025 earnings results?

Interpace reported Q2 2025 revenue of $9.2M (down 23% YoY) and a loss from continuing operations of $0.5M. The company achieved record thyroid testing revenue of $8.7M, up 25% year-over-year.

Why did IDXG's revenue decline in Q2 2025 compared to Q2 2024?

The revenue decline was primarily due to the loss of reimbursement for PancraGEN testing, which resulted in $1.2M in one-time charges related to the wind-down of this business line.

How is IDXG's thyroid testing business performing in 2025?

IDXG's thyroid testing business showed strong growth with volume up 16% and revenue up 25% year-over-year to record levels in Q2 2025.

What is IDXG's financial outlook following Q2 2025 results?

The company expects continued growth in revenue, profitability, and cash flow as a thyroid-only diagnostics business, supported by preliminary July 2025 revenue showing a 54% year-over-year increase to $3.3M.

What was IDXG's cash position at the end of Q2 2025?

IDXG reported cash and cash equivalents of $502,000 as of June 30, 2025, with Q2 cash collections of $10.8M.