ProPhase Labs, Inc. (NASDAQ:PRPH) Q1 2024 Earnings Call Transcript

ProPhase Labs, Inc. (NASDAQ:PRPH) Q1 2024 Earnings Call Transcript May 9, 2024

ProPhase Labs, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Noella Alexander-Young: Welcome to today's presentation. My name is Noella Alexander-Young, Virtual Event Moderator here at Renmark Financial Communications. On behalf of [Technical Difficulty] for joining us today for ProPhase Labs' First Quarter 2024 Results. ProPhase is trading on the Nasdaq under the ticker symbol PRPH. Presenting today is Ted Karkus, Chairman and Chief Executive Officer. Following the presentation is a Q&A session for which you can participate using the chat box on the top right-hand corner of your screen. That being said I will now hand over to Ted.

Ted Karkus: Thank you, Noella. Really appreciate you moderating as always, big shout out to Renmark. We do virtual non-deal road shows with Renmark approximately once per month. So if you miss anything in any presentation or you want to get -- be kept up regularly feel free to sign up with Renmark if you want to be up-to-date with what's going on with our company. I think that these virtual presentations are a great way not only for when I do the VMDRs, but also we are now doing them for the earnings calls as well. Feel free to give me feedback if there's a different approach you think we should take, but I love this approach. Before we get started, forward-looking statement, just very quickly. For the VMDRs, I don't read them.

But for the earnings calls, I think I should. Before we get started, I'd like to remind you of the company's safe harbor language. During this presentation, we will make forward-looking statements including statements regarding our strategies, plans, objectives and initiatives and underlying assumptions. While we believe that these forward-looking statements are reasonable as and when made, forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to our ability to obtain and maintain necessary regulatory approval, general economic conditions, consumer demand for our products and services, challenges relating to entering into and growing new business lines, the competitive environment and the risk factors listed from time to time in our filings with the SEC filings.

This call will present non-GAAP financial measures such as adjusted EBITDA. Reconciliation of these non-GAAP measures to the most comparable GAAP measures are included in the earnings release furnished to the SEC prior to this call and available on our website. So with that, first of all, I just have to give a shout out to ThinkEquity who we have close to a 4-year relationship with was instrumental in financing our initiatives when we built out the COVID business that went down to a couple of hundred million in revenues, they brought us some fantastic acquisitions that are now developing. So I always give a shout out to ThinkEquity, also to the other companies that follow us on an analytical -- research analytical bases including H.C. Wainwright and Diamond Equity Research.

So with that, I don't want to go through the presentation again, not that much has changed in the presentation itself from the last time I did an earnings call just six weeks ago. And so I was going to start the call by saying not that much changes in six weeks, but the fact is if you read the press release today, a lot has developed in the last six weeks. So before I get into it, I always like to put a little perspective. I really do believe that a history of execution in a microcap company is critically important. When a management executes historically, your probability of success goes up, on the next initiatives that management is focusing on as opposed to a management team that's new, that's starting up a company for the first time has quoted some breakthrough technology that they're excited about.

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