Precipio, Inc. announced a 4-year agreement with a new customer to bring HemeScreen technology into their lab. Based on volume information provided by the customer, revenues in Q1-2023 are projected to be approximately at a $250,000 run rate (an increase of 15% to current HemeScreen run rate). Furthermore, revenues are expected to ramp up to over a $1M run rate by year-end 2023 (an increase of 60% over current HemeScreen run rate).

As customers incorporate technology into their laboratory, have observed in existing clients a lower initial volume followed by increased utilization and subsequent revenue, due to two drivers: lower volumes arising initially as customers modify their procedures to utilize HemeScreen in house and their intended adoption of additional test panels as they smooth out their workflow and test processes.