Every 10-Q that PROPHASE LABS INC (PRPH) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PRPH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PRPH filings page.
ProPhase Labs, Inc. (PRPH) reports very strained finances for the quarter ended June 30, 2026 and states that there is substantial doubt about its ability to continue as a going concern. Cash and cash equivalents were only $20 thousand, against total current liabilities of $58.1 million, resulting in a significant working capital deficit and a stockholders’ deficit of $3.1 million.
Revenue from continuing operations was $1.0 million for the quarter and $2.2 million for the first six months of 2026, with a six‑month net loss from continuing operations of $8.2 million. Operating cash outflow from continuing operations improved to $0.8 million versus $4.2 million a year earlier, helped by non‑cash charges and working capital changes.
The company relies heavily on short‑term, high‑cost debt, convertible notes with variable‑price conversion features, and multiple “future receipts” financings, many with original issue discounts, fees and embedded derivatives recorded as derivative liabilities. It also entered an up to $10 million equity line and an ATM program but raised only modest equity in the period. Three diagnostics subsidiaries filed for Chapter 11 in 2025 as part of a strategy to pursue unpaid COVID‑19 testing claims, while ProPhase continues to focus on genomics (Nebula, DNA Complete), drug and supplement licensing (Equivir, Linebacker) and the BE‑Smart esophageal pre‑cancer test.
ProPhase Labs, Inc. filed Amendment No. 2 to its quarterly report for the three months ended March 31, 2026, restating its financial statements after identifying errors across revenue, cost of goods sold, deferred revenue and several balance sheet items. The restated quarter shows net revenues of $1.2 million and a net loss of $5.2 million, compared with net revenues of $1.4 million and net income of $4.0 million a year earlier, when discontinued operations contributed significant gains. Cash and cash equivalents fell to $31,000, with total assets of $58.5 million and total liabilities of $58.9 million, resulting in negative stockholders’ equity of $(0.4) million. The company discloses a significant working capital deficit and states that these conditions raise substantial doubt about its ability to continue as a going concern within one year, and that management’s plans do not alleviate this doubt.
ProPhase Labs, Inc. reports a weak first quarter of 2026 and discloses substantial doubt about its ability to continue as a going concern within one year. Management’s plans to cut costs, refocus on genomics and biotech, pursue collections and explore financings do not alleviate this doubt.
For the three months ended March 31, 2026, revenue fell to $478 thousand from $1.431 million a year earlier, and the company recorded a net loss of $5.354 million versus prior-year net income driven by discontinued operations. Loss from continuing operations deepened, with negative gross profit leverage and higher non-cash charges from debt-related items and derivative liabilities.
Liquidity is strained: cash and cash equivalents were only $31 thousand as of March 31, 2026, current assets totaled $3.113 million against current liabilities of $56.108 million, and stockholders’ equity turned into a $614 thousand deficit. The company relied heavily on high-cost financings, including multiple short-term notes, convertible promissory notes with variable conversion prices, future receipts financing agreements, and collateralized share-backed loans, many with significant original issue discounts, warrants, or embedded derivative liabilities.
ProPhase Labs, Inc. reports weak results and severe liquidity pressure for the three months ended March 31, 2026. Revenue from continuing operations fell to $478,000 from $1.431 million, producing gross profit of only $167,000 against operating expenses of $2.772 million.
The company recorded a net loss of $5.354 million from continuing operations and ended the quarter with just $31,000 of cash. Current assets were $3.113 million versus current liabilities of $56.108 million, leaving a large working capital deficit and negative stockholders’ equity of $614,000.
Management discloses that these conditions raise substantial doubt about ProPhase’s ability to continue as a going concern, and that its plans to reduce expenses, refocus on genomics and biotech, collect receivables and pursue financings do not currently alleviate this doubt. The quarter also featured multiple high-cost debt and future receipts financings, new convertible notes with embedded derivative liabilities, and significant share issuances and potential dilution, including conversions of earlier notes, an at-the-market offering, and a $10 million equity line commitment.
ProPhase Labs, Inc. reported continued operating losses in its quarter ended September 30, 2025 while restructuring its diagnostics business and advancing key biotech assets. Quarterly revenue fell to $883,000 from $1.4 million a year earlier, and the company posted a net loss of $6.8 million versus a $6.6 million loss in the prior-year quarter. For the first nine months, revenue was $3.6 million and net loss narrowed to $7.3 million from $19.0 million, helped by an $8.7 million gain on disposal of discontinued operations.
The company deconsolidated its COVID-19 testing labs, which ceased testing in May 2025 and filed for Chapter 11 in September 2025, and now carries a $43.7 million investment in unconsolidated affiliates. Liquidity remains tight with $405,000 in cash, $58.8 million in total liabilities and $6.9 million of equity, supported by multiple high-cost loans and $3.8 million of July 2025 secured convertible notes. ProPhase continues to invest in its genomics and biopharma platforms, highlighted by a successful validation study and a newly issued U.S. patent for its BE-Smart esophageal pre-cancer diagnostic test, with commercialization steps planned in 2026.
ProPhase Labs, Inc. reported net revenues of $1.25 million for the three months ended June 30, 2025, down from $1.50 million a year earlier, and $2.68 million for the six months versus $3.86 million a year prior. Gross profit improved to $0.73 million for the quarter from a loss the prior year, reflecting lower cost of goods sold.
The company had $169 thousand in cash and $42.04 million in total assets at June 30, 2025, versus $678 thousand and $63.20 million at year-end 2024. Loss from continuing operations after income taxes was $4.47 million for the quarter and $9.15 million for the six months. The six-month results include an $8.75 million gain on disposal of discontinued operations (PMI). Stockholders' equity was $11.44 million and shares outstanding were 41,541,205 as of August 11, 2025.
Material developments disclosed include the sale of PMI, completion of a BE-Smart validation study with >95% technical success, termination and settlement of New York leases with related asset write-offs and a $1.4 million lease termination loss, equity financing through a Keystone ELOC raising approximately $3.6 million net, and new short-term loan financings including two $625,000 notes issued June 22, 2025 with attached warrants.