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SEC filingRevenue grew 11.7% to $17.3M with gross margin expansion to 59.0%, reflecting operational turnaround progress, though operating loss remained stable at -$3.4M and cash burn persisted amid rising expenses and reimbursement challenges.
Revenue increased 11.7% to $17.3 million in Q1 FY2026 from $15.5 million in the prior year, continuing the operational turnaround under CEO John Aballi's leadership since October 2022. This growth reflects a return to topline expansion, supported by sufficient laboratory capacity to handle increased test volumes, though reimbursement denials from certain plans persist as a headwind.
Net income showed a net loss of $4.0 million, 5.7% wider than the prior year's -$3.8 million, with diluted EPS improving to -$0.17 from -$0.20 (15.0% better). This per-share progress indicates effective share count management alongside revenue growth, though below-the-line items contributed to the wider loss.