At the same time, we now employ significantly more temporary employees which provide flexibility to increase and decrease the work force more efficiently as demand for testing fluctuates. Our testing levels increased significantly during Q4, due to our extensive expansion and diversification of our customer base, including independent pharmacies, schools, concierge services in multiple states, municipal contract wins, etc.
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Ted Karkus, ProPhase Lab’s Chief Executive Officer, commented, “I am so proud of our entire team for the phenomenal success that we achieved in our first full year in the CLIA lab diagnostics testing business. Subsequent to year end 2021, paid an additional special cash dividend of $0.30 per share on March 10, 2022. Paid a special cash dividend of $0.30 per share on June 3, 2021.Repurchased 166,824 shares at an aggregate amount of $944,000 or $5.66 per share, pursuant to ProPhase Labs previously announced repurchase program.Wainwright Global, SNN Network Summer, and the Q3 Investor Summit. Presented at five investor conferences, including LD Micro, Benzinga Health Care Small Cap, H.C.Nebula Genomics co-founder and renowned Harvard scientist, George Church, Ph.D., to spearhead ProPhase Labs new scientific advisory board. Acquired Nebula Genomics, Inc., (“Nebula Genomics”) a privately owned personal genomics company, for an aggregate purchase price of $14.6 million.Second half of 2021, built strong leadership team with key promotions and additions to management team contributing to significant growth and improved operating efficiencies.Built from scratch a 25,000 square foot state-of-the-art New York CLIA certified laboratory in Garden City, New York, corporate headquarters subsequently moved to this location.18.3% increase in gross margins to 54.5% for the three months ended Decemas compared to 36.2% for the three months ended December 31, 2020.Ĭorporate highlights for the year ended December 31, 2021, and subsequently include the following:.Adjusted EBITDA income of $16.5 million for Q4 2021 as compared to adjusted EBITDA income of $0.1 million for Q4 2020.This includes the impairment of a note receivable of $3.75 million. Net income of $10.6 million, or $0.68 per share for the three months ended December 31, 2021, compared to a net loss of $1.0 million, or ($0.09) per share, for the three months ended December 31, 2020.Net revenues of $45.2 million for the three months ended December 31, 2021, as compared to net revenues of $5.2 million for the three months ended December 31, 2020.580,000 diagnostics tests were performed in Fiscal 2021 including 350,000 diagnostics tests that were performed in the quarter ended December 31, 2021.įinancial highlights for the fourth quarter 2021 include the following:.Cash, cash equivalents and marketable equity securities of $17.4 million and net working capital of $45.8 million at December 31, 2021.Adjusted EBITDA income of $18.1 million for the year ended December 31, 2021, as compared to adjusted EBITDA loss of $0.3 million for the year ended December 31, 2020.Net Income of $6.3 million, or $0.41 per share, for the year ended December 31, 2022, as compared to a net loss of $2.1 million, or $(0.18) per share, for the year ended December 31, 2020.Net revenue of $79.0 million for the year ended December 31, 2021, as compared to $14.5 million for the year ended December 31, 2020, an increase of approximately 445%.Garden City, NY, Ma(GLOBE NEWSWIRE) - ProPhase Labs, Inc. (NASDAQ: PRPH), a diversified diagnostics and genomics company, today reported its financial and operational results for the fourth quarter and full year ended December 31, 2021.įinancial highlights for the full year ended December 31, 2021, include the following: Record Financial Results also expected for Q1 2022Ĭompany to hold a conference call March 30, 202 2, at 11:00 AM ET
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