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August 10 , 2021 Interpace Biosciences® Interpace Biosciences Announces Second Quarter 2021 Financial and Business Results Q2 Revenue of $ 11.2 Million Surpasses Q1 2021 as Company's Highest Revenue Quarter Company approaching EBITDA breakeven on Higher Clinical Volume , Revenue , Improved Gross Profit and Operating Expense Containment Restructuring Exceeding Full - Year Savings Expectations On Track to Exceed Full Year 2021 Revenue Growth of 35 % Q2 Cash Collections in Excess of $ 11 Million Representing Highest Collection Quarter PARSIPPANY , NJ , Aug. 10 , 2021 ( GLOBE NEWSWIRE ) -- Interpace Biosciences , Inc. ( “ Interpace ” or the “ Company ” ) ( OTCQX : IDXG ) today announced financial results for the fiscal quarter ended June 30 , 2021 and provided a business and financial update . " Following a transformative , record first quarter , the Company's record second quarter operating results are indicative of the focus and dedication of every employee at our Company , as well as the continued growth expectations our team has in terms of assisting healthcare providers in the diagnosis , triage and treatment of patients " said President and CEO Thomas Burnell . " As we enter the second half of the year and look ahead to 2022 , we expect the current momentum to continue as we remain vigilant in expanding market penetration , private payor coverage and clinical volume . It is also imperative that we begin to realize the potential of our pharma services business which has experienced softness during the consolidation of labs from New Jersey into North Carolina " , added Burnell . Mr. Burnell added , " Special thanks goes to the healthcare community for the trust and confidence they place in our people , our technology and our Company as we work to improve the quality of life of patients . " " We are extremely pleased with our strong operating results for the first half of 2021. We experienced significant revenue and gross profit growth while reducing operating expenses as a percentage of revenue . Excluding our transition expenses , which reflect Pharma lab relocation costs and other cost - saving initiatives , largely non - recurring in nature , our operating expenses for the first half of 2021 were $ 2.0 million lower than last year on $ 6.5 million higher revenue , " stated Tom Freeburg , CFO of Interpace . “ Importantly , our first half adjusted EBITDA , which we believe is an important financial measure to help evaluate our performance , improved by $ 7.2 million over the prior year . The company is clearly at an exciting inflection point as we approach EBITDA and cash flow breakeven going into the second half of 2021. "