# EDGAR Filing Document

**Accession Number:** 0001054102
**File Stem:** 0001493152-26-014654
**Filing Date:** 2026-4
**Character Count:** 27183
**Document Hash:** 86638dfe907404b45c013f92c424189a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-014654.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001493152-26-014654

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260330

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INTERPACE BIOSCIENCES, INC.
- **CENTRAL INDEX KEY:** 0001054102
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 222919486
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-24249
- **FILM NUMBER:** 26828394

**BUSINESS ADDRESS:**
- **STREET 1:** WATERVIEW PLAZA, SUITE 310
- **STREET 2:** 2001 ROUTE 46
- **CITY:** PARSIPPANY
- **STATE:** NJ
- **ZIP:** 07054
- **BUSINESS PHONE:** 412-224-6100

**MAIL ADDRESS:**
- **STREET 1:** WATERVIEW PLAZA, SUITE 310
- **STREET 2:** 2001 ROUTE 46
- **CITY:** PARSIPPANY
- **STATE:** NJ
- **ZIP:** 07054

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Interpace Diagnostics Group, Inc.
- **DATE OF NAME CHANGE:** 20151223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PDI INC
- **DATE OF NAME CHANGE:** 20021113

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PROFESSIONAL DETAILING INC
- **DATE OF NAME CHANGE:** 19980129

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): March 30, 2026**

**INTERPACE BIOSCIENCES, INC.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **0-24249** | **22-2919486** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

**Waterview Plaza, Suite 310, 2001 Route 46**

**Parsippany, NJ 07054**

(Address, including zip code, of principal executive offices)

**(855) 776-6419**

Registrant's telephone number, including area code

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| None | N/A | N/A |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02 Results of Operations and Financial Condition.**

On March 30, 2026, Interpace Biosciences, Inc. issued a press release announcing its results of operations and financial condition for the fourth quarter and fiscal year ended December 31, 2025. The full text of the press release is set forth as Exhibit 99.1 attached hereto and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) <u>Exhibits</u>.

<u>Exhibit Number</u> <u>Description</u> <br> 99.1 [Press Release, dated March 30, 2026.](ex99-1.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **INTERPACE BIOSCIENCES, INC.** | **INTERPACE BIOSCIENCES, INC.** |
| By: | */s/ Thomas W. Burnell* |
| Name: | Thomas W. Burnell |
| Title: | President and Chief Executive Officer |

---

Date: April 1, 2026

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Interpace Biosciences Announces Fourth Quarter and Full Year 2025 Financial and Business Results**

● Q4 and FY Revenue of $9.2 million and $38.7 million

● Q4 and FY Income from Continuing Operations of $22.8 million and $25.0 million (benefiting from a one-time, non-cash tax-related accounting adjustment)

● Q4 and FY Thyroid volume year-over-year increase of 11% and 13%

● Q4 and FY Thyroid revenue year-over-year increase of 14% and 21%

PARSIPPANY, NJ, March 30, 2026 (GLOBE NEWSWIRE) — Interpace Biosciences, Inc. ("Interpace" or the "Company") (OTCQX: IDXG) today announced financial results for the fourth quarter and full year ended December 31, 2025 and provided a business and financial update.

Q4 and FY revenue were $9.2 million and $38.7 million, respectively. Q4 and FY income from continuing operations were $22.8 million and $25.0 million, respectively, benefiting from a one-time, non-cash tax-related accounting adjustment related to the release of a deferred tax valuation allowance. Q4 2025 thyroid revenue increased 14% year-over-year, and full year 2025 thyroid revenue increased 21% year-over-year.

"The Company delivered strong thyroid performance in the fourth quarter, capping a transformational year as we completed our transition to a thyroid-only diagnostics testing company," said Chris McCarthy, Chief Financial Officer. "Thyroid revenue increased 14% year-over-year in Q4 2025 and 21% year-over-year for full year 2025, while thyroid test volume increased 11% and 13% year-over-year, respectively. Net income for the quarter and full year was driven in significant part by a one-time, non-cash accounting adjustment related to the release of a valuation allowance on deferred tax assets, which contributed meaningfully to income from continuing operations. These results reflect the strength of our ThyGeNEXT<sup>®</sup> and ThyraMIR<sup>®</sup>v2 platform in the market and our team's execution on growth initiatives."

McCarthy added, "Our strong financial position enabled continued investments in laboratory operational efficiency, leveraging AI and automation as part of our digital strategy. We further strengthened our balance sheet by fully paying off our debt in Q4 2025 and increased cash availability by $4.3 million year-over-year."

"2025 marked a pivotal year for Interpace as we successfully navigated the PancraGEN discontinuation and emerged as a focused thyroid diagnostics company," said Tom Burnell, President and CEO. "Our fourth quarter results demonstrate the resilience of our business model and the strength of our comprehensive thyroid testing platform. We believe our combination approach—ThyGeNEXT<sup>®</sup> for mutation detection and ThyraMIR<sup>®</sup>v2 for microRNA pathway insights—helps provide physicians the confidence and clarity they need to make informed patient-management decisions."

Outlook

With a streamlined, thyroid-only operating model and strong commercial momentum, Interpace is positioned to accelerate execution in 2026. The Company remains focused on scaling thyroid test volume through deeper adoption within existing accounts and ongoing account growth, driving productivity gains through automation and operational discipline, and delivering on its previously provided guidance of approximately 16% year-over-year thyroid revenue growth.

Business Highlights

● Average thyroid revenue per test increased 5% year-over-year.

● Days sales outstanding (DSO) decreased 19% year-over-year.

● Turnaround time decreased 20% year-over-year.

● Average volume per account increased 6% year-over-year.

● Number of accounts increased 9% year-over-year.

● Percentage of new accounts converted to recurring accounts increased 10% year-over-year.

Fourth Quarter 2025 Financial Performance

**For the Fourth Quarter of 2025 as Compared to the Fourth Quarter of 2024 and Pro Forma 2024 Results:**

● Revenue was $9.2 million, a decrease of 26% from $12.4 million for the prior year quarter and an increase of 20% from $7.7 million for the prior year quarter Pro Forma.

● Gross Profit percentage was 66% compared to 64% for the prior year quarter and 57% for the prior year quarter Pro Forma.

● Operating income was $1.6 million versus operating income of $2.1 million in the prior year quarter and an operating loss of $4,000 in the prior year quarter Pro Forma.

● Income from continuing operations was $22.8 million (benefiting from a one-time, non-cash tax-related accounting adjustment) versus income from continuing operations of $1.9 million in the prior year quarter and a loss from continuing operations of $0.2 million in the prior year quarter Pro Forma.

● Adjusted EBITDA was $1.7 million versus $2.2 million in the prior year quarter and $0.2 million in the prior year quarter Pro Forma.

● Q4 2025 cash collections totaled $9.6 million compared to $11.2 million in the prior year quarter and $10.1 million in the prior year quarter Pro Forma.

Full Year 2025 Financial Performance

**For the Year Ended 2025 as Compared to the Year Ended 2024 and Pro Forma 2024 Results:**

● Revenue was $38.7 million, a decrease of 18% from $46.9 million in the prior year and an increase of 17% from $33.2 million in the prior year Pro Forma.

● Gross Profit percentage was 62% compared to 64% in the prior year and 59% in the prior year Pro Forma.

● Income from continuing operations was $25.0 million (benefiting from a one-time, non-cash tax-related accounting adjustment) versus income from continuing operations of $6.9 million in the prior year and $0.5 million in the prior year Pro Forma.

● Adjusted EBITDA was $5.4 million versus $8.7 million in the prior year and $2.3 million in the prior year Pro Forma.

● 2025 cash collections totaled $41.7 million compared to $43.6 million in the prior year and $28.7 million in the prior year Pro Forma.

Management uses a non-GAAP Pro Forma income statement to help evaluate the results of our performance. The Pro Forma income statement for 2024 reflects the Company's current business structure as a thyroid-only diagnostics testing company and excludes revenue and related costs from PancraGEN, which was discontinued in May 2025. These adjustments are presented for comparability purposes only and do not represent GAAP financial measures. Investors should review GAAP results alongside these pro forma figures for a complete understanding of performance. A reconciliation of GAAP and these pro forma figures is presented below.

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 two commercialized molecular tests: ThyGeNEXT<sup>®</sup> for the diagnosis of thyroid cancer from thyroid nodules utilizing a next-generation sequencing assay and ThyraMIR<sup>®</sup>v2, used in combination with ThyGeNEXT<sup>®</sup>, for the diagnosis of thyroid cancer utilizing a proprietary microRNA pairwise expression profiler along with algorithmic classification.

For more information, please visit Interpace Biosciences' website at <u>www.interpace.com</u>.

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, net income and adjusted EBITDA may prove to be materially inaccurate, the preliminary unaudited financial results being subject to audit review and adjustments, the Company's prior history of operating losses, the Company's ability to adequately finance its business, 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, and the Company's revenue recognition being based in part on estimates for future collections which estimates may prove to be incorrect.

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, 2025, 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

<u>Info@Interpace.com</u>

**INTERPACE BIOSCIENCES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in thousands, except per share data)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Years Ended** | **Years Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **(unaudited)** | **(unaudited)** | | |
| Revenue, net | $9224 | $12411 | $38728 | $46926 |
| Cost of revenue | 3180 | 4504 | 14598 | 17001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Profit | 6044 | 7907 | 24130 | 29925 |
| Sales and marketing | 2114 | 3084 | 9924 | 11655 |
| Research and development | 142 | 194 | 642 | 676 |
| General and administrative | 2211 | 2567 | 9480 | 9486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 4467 | 5845 | 20046 | 21817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | 1577 | 2062 | 4084 | 8108 |
| Interest accretion expense |  |  |  | (34) |
| Note payable interest expense | (12) | (110) | (168) | (625) |
| Other expense, net | (30) | (95) | (142) | (499) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations before tax | 1535 | 1857 | 3774 | 6950 |
| (Benefit) provision for income taxes | (21217) | (8) | (21210) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | 22752 | 1865 | 24984 | 6946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Loss) income from discontinued operations, net of tax | (95) | 16 | (409) | (244) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | 22657 | 1881 | 24575 | 6702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less adjustment for preferred stock deemed dividend |  | (464) |  | (464) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income attributable to common stockholders | $22657 | $1417 | $24575 | $6238 |
| Basic income (loss) per share of common stock: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From continuing operations | $5.14 | $0.32 | $5.65 | $1.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From discontinued operations | (0.02) | 0.00 | (0.09) | (0.06) |
| &nbsp;&nbsp;&nbsp;Net income (loss) per basic share of common stock | $5.12 | $0.32 | $5.55 | $1.42 |
| Diluted income (loss) per share of common stock: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From continuing operations | $0.82 | $0.05 | $0.90 | $0.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From discontinued operations | (0.00) | 0.00 | (0.01) | (0.02) |
| &nbsp;&nbsp;&nbsp;Net income (loss) per diluted share of common stock | $0.82 | $0.05 | $0.89 | $0.40 |
| Weighted average number of common shares and common share equivalents outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 4429 | 4406 | 4424 | 4387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 27705 | 26132 | 27695 | 15734 |

---

**Selected Balance Sheet Data** 

**($ in thousands)**

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Cash and cash equivalents | $2505 | $1461 |
| Total current assets | 9900 | 11773 |
| Total current liabilities | 5103 | 10615 |
| Total assets | 33838 | 14792 |
| Total liabilities | 11475 | 17009 |
| Total stockholders' equity (deficit) | 22363 | (2217) |

---

**Selected Cash Flow Data** 

**($ in thousands)**

---

| | | |
|:---|:---|:---|
|  | **For the Years Ended** | **For the Years Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Net income | $24575 | $6702 |
| Net cash provided by operating activities | $5831 | $4646 |
| Net cash used in investing activities | (356) | (876) |
| Net cash used in financing activities | (4431) | (5807) |
| Change in cash and cash equivalents | 1044 | (2037) |
| Cash and cash equivalents – beginning | 1461 | 3498 |
| Cash and cash equivalents – ending | $2505 | $1461 |

---

**Reconciliation of Pro Forma (Unaudited)**

**(in thousands, except per share data)**

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended December 31, 2024** | **Three Months Ended December 31, 2024** | **Three Months Ended December 31, 2024** |
|  |<br>**As Reported** | **PancraGEN**<br>**Direct Costs\*** |<br>**Pro Forma** |
| Revenue, net | $12411 | $4715 | $7696 |
| Cost of revenue | 4504 | 1212 | 3292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Profit | 7907 | 3503 | 4404 |
| Sales and marketing | 3084 | 1233 | 1851 |
| Research and development | 194 | 78 | 116 |
| General and administrative | 2567 | 126 | 2441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 5845 | 1437 | 4408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | 2062 | 2066 | (4) |
| Note payable interest | (110) |  | (110) |
| Other expense, net | (95) | - | (95) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations before tax | 1857 | 2066 | (209) |
| Benefit for income taxes | (8) | - | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | 1865 | 2066 | (201) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from discontinued operations, net of tax | 16 | - | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | 1881 | 2066 | (185) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less adjustment for preferred stock deemed dividend | (464) |  | (464) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) attributable to common stockholders | $1417 | $2066 | $(649) |
| Basic income (loss) per share of common stock: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From continuing operations | $0.32 | $0.47 | $(0.15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From discontinued operations | 0.00 | - | 0.00 |
| Net income (loss) per basic share of common stock | $0.32 | $0.47 | $(0.15) |
| Diluted income (loss) per share of common stock: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From continuing operations | $0.05 | $0.08 | $(0.03) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From discontinued operations | 0.00 | - | 0.00 |
| &nbsp;&nbsp;&nbsp;Net income (loss) per diluted share of common stock | $0.05 | $0.08 | $(0.02) |
| Weighted average number of common shares and common share equivalents outstanding: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 4406 | 4406 | 4406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 26132 | 26132 | 26132 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
|  |<br>**As Reported** | **PancraGEN**<br>**Direct Costs\*** |<br>**Pro Forma** |
| Revenue, net | $46926 | $13725 | $33201 |
| Cost of revenue | 17001 | 3470 | 13531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Profit | 29925 | 10255 | 19670 |
| Sales and marketing | 11655 | 3266 | 8389 |
| Research and development | 676 | 203 | 473 |
| General and administrative | 9486 | 347 | 9139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 21817 | 3816 | 18001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | 8108 | 6439 | 1669 |
| Interest accretion expense | (34) |  | (34) |
| Note payable interest | (625) |  | (625) |
| Other expense, net | (499) | - | (499) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations before tax | 6950 | 6439 | 511 |
| Provision for income taxes | 4 | - | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | 6946 | 6439 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss from discontinued operations, net of tax | (244) | - | (244) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | 6702 | 6439 | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less adjustment for preferred stock deemed dividend | (464) |  | (464) |
| Net income (loss) attributable to common stockholders | $6238 | $6439 | $(201) |
| Basic income (loss) per share of common stock: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From continuing operations | $1.48 | $1.47 | $0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From discontinued operations | (0.06) | - | (0.06) |
| &nbsp;&nbsp;&nbsp;Net income (loss) per basic share of common stock | $1.42 | $1.47 | $(0.05) |
| Diluted income (loss) per share of common stock: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From continuing operations | $0.41 | $0.41 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From discontinued operations | (0.02) | - | (0.02) |
| &nbsp;&nbsp;&nbsp;Net income (loss) per diluted share of common stock | $0.40 | $0.41 | $(0.01) |
| Weighted average number of common shares and<br> common share equivalents outstanding: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 4387 | 4387 | 4387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 15734 | 15734 | 15734 |

---

\* PancraGEN Direct Costs represent only direct costs associated with the operations of PancraGEN testing, with no allocations or estimates of corporate, shared, or overhead expenses included.

**Reconciliation of Adjusted EBITDA (Unaudited)**

**($ in thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Years Ended** | **Years Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Income from continuing operations (GAAP Basis) | $22752 | $1865 | $24984 | $6946 |
| Depreciation and amortization | 118 | 95 | 425 | 300 |
| Stock-based compensation | 4 | 72 | 35 | 291 |
| Severance & related expense |  |  | 692 |  |
| Asset impairment - lab supplies |  |  | 198 |  |
| Tax (benefit) expense | (21217) | (8) | (21210) | 4 |
| Interest accretion expense |  |  |  | 34 |
| Financing interest and related costs | 12 | 110 | 168 | 625 |
| Interest income | 7 | (8) | 32 | (48) |
| Change in fair value of note payable | 23 | 103 | 110 | 547 |
| Adjusted EBITDA | $1699 | $2229 | $5434 | $8699 |

---

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.