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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019
Revenue, net of contractual allowances and adjustments | $ 1,645 | $ 1,199 | $ 3,127 | $ 2,116
less allowance for doubtful accounts | (337) | (257) | (603) | (461)
Net sales | 1,308 | 942 | 2,524 | 1,655
Total cost of sales | 1,137 | 770 | 2,228 | 1,445
Gross profit | 171 | 172 | 296 | 210
OPERATING EXPENSES: |  |  |  |
Operating expenses | 2,430 | 2,467 | 4,758 | 4,564
OPERATING LOSS | (2,259) | (2,295) | (4,462) | (4,354)
OTHER INCOME (EXPENSE): |  |  |  |
Interest income (expense), net | 246 | (178) | (467) | (201)
Warrant revaluation | (372) | (822) | 564 | (582)
Loss on modification of warrants |  | (1,128) |  | (1,128)
Derivative revaluation |  | (438) |  | (415)
Gain on settlement of liability, net | 0 | 1,084 | 0 | 1,251
Loss on extinguishment of debt |  |  | 1,225 |
Loss on litigation |  | (266) |  | (266)
Loss on issuance of convertible notes |  | (1,870) |  | (1,870)
Other income | 153 |  | 153 |
Total other expenses | 27 | (3,618) | (975) | (3,211)
LOSS BEFORE INCOME TAXES | (2,232) | (5,913) | (5,437) | (7,565)
NET LOSS | (2,232) | (5,913) | (5,437) | (7,565)
Less: Net income attributable to noncontrolling interest in joint venture | (17) |  | (17) |
Deemed dividends related to beneficial conversion feature of preferred stock and fair value of warrant down round features |  |  | (3,344) |
NET LOSS ATTRIBUTABLE TO PRECIPIO, INC. COMMON STOCKHOLDERS | $ (2,249) | $ (5,913) | $ (8,798) | $ (7,565)
BASIC AND DILUTED LOSS PER COMMON SHARE (IN DOLLARS PER SHARE) | $ (0.20) | $ (1.05) | $ (0.89) | $ (1.66)
BASIC AND DILUTED WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING (IN SHARES) | 11,353,093 | 5,655,022 | 9,862,525 | 4,554,571
Service revenue, net [Member] |  |  |  |
Revenue, net of contractual allowances and adjustments | $ 1,616 | $ 1,195 | $ 3,074 | $ 2,105
less allowance for doubtful accounts | (337) | (257) | (603) | (461)
Net sales | 1,279 | 938 | 2,471 | 1,644
Other [Member] |  |  |  |
Revenue, net of contractual allowances and adjustments | $ 29 | $ 4 | $ 53 | $ 11

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