ProPhase Labs Announces Record Financial Results for the year ended December 31, 2022
Garden City, NY, March 28, 2023 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH), a growth oriented and diversified diagnostics, genomics and biotech company, today reported its financial and operational results for the year ended December 31, 2022.
- Financial highlights for the full year ended December 31, 2022, include the following:
Net revenue of $122.6 million for the year ended December 31, 2022, as compared to $79.0 million for the year ended December 31, 2021, an increase of approximately 55%. - Adjusted EBITDA of $38.6 million for the year ended December 31, 2022, as compared to adjusted EBITDA of $18.1 million for the year ended December 31, 2021.
- For the year ended December 31, 2022, our overall gross margin was 57.6% as compared to 53.1% for the year ended December 31, 2021.
- Research and development costs for the year ended December 31, 2022 were $0.7 million as compared to $0.5 million for the year ended December 31, 2021.