Earnings Labs

Precipio, Inc. (PRPO)

Q3 2022 Earnings Call· Mon, Nov 14, 2022

$31.65

+3.09%

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1 Week

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1 Month

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Transcript

Operator

Operator

Welcome to the Precipio Shareholder Third Quarter 2022 Shareholder Update Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note that the conference is being recorded. Statements made during this contain forward-looking statements about our business. You should not place undue reliance on forward-looking statements as these statements are based upon our current expectations, forecasts, and assumptions, and are subject to significant risks and uncertainties. These statements may be identified by words such as may, will, should, could, expect, intend, plan, anticipate, believe, estimate, predict, potential, forecast, continue, or the negative of these terms or other words or terms of similar meaning. Risks and uncertainties that could cause our actual results to differ materially from those set forth in any forward-looking statements include, but are not limited to the matters listed under Risk Factors in our annual report on Form 10-K for the year ended December 31, 2021, which is on file with the Securities and Exchange Commission, as well as other risks detailed in our subsequent filings with the Securities and Exchange Commission. These reports are available at www.sec.gov. Statements and information, including forward-looking statements, speak only to the date they are provided unless an earlier date is indicated, and we do not undertake any obligation to publicly update any statements or information, including forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Now let me hand over the call to Ilan Danieli.

Ilan Danieli

Analyst

Thank you, and good afternoon, everyone. Thanks for joining our 2022 third quarter shareholder update call. I appreciate those who sit in questions, and we'll do our best to address them in today's call. As we come to a close in 2022, I'd like to address some of the goals we've set out at the start of the year and did not reach, like to discuss some of the achievements. And most importantly, the steps we're taking and the changes we're making to make sure the company aggressively pursues and achieves its goals that we set out. Earlier in the year, we set out various goals for the company, which included both revenue growth targets, as well as financial. While we have made some progress towards our goals, we're not there yet. This is disappointing, and we are by no means content with where we are at. Running a business is a process of continuous learning, particularly in a situation where we are essentially launching a new line of business within the company. There are several internal areas within the company that underperformed. And for those, we will be making changes so that we can do better. Realizing the results of those changes take some time and determination, and this is what we're focused on ensuring that the impact of those changes is rapid and substantial. It is important for me to convey to you that I as CEO take responsibility for the company's situation and hold myself accountable. Furthermore, our management team has also held accountable, and we've all been working hard to analyze the internal reasons within our company for where we are and put together an action plan to ensure that we meet those goals. I also recognize that, our stock price has moved in the wrong…