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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019
Revenue, net of contractual allowances and adjustments | $ 2,049 | $ 1,046 | $ 5,176 | $ 3,162
less allowance for doubtful accounts | (422) | (262) | (1,025) | (723)
Net sales | 1,627 | 784 | 4,151 | 2,439
Total cost of sales | 1,250 | 756 | 3,478 | 2,201
Gross profit | 377 | 28 | 673 | 238
OPERATING EXPENSES: |  |  |  |
Operating expenses | 2,809 | 2,391 | 7,567 | 6,955
OPERATING LOSS | (2,432) | (2,363) | (6,894) | (6,717)
OTHER INCOME (EXPENSE): |  |  |  |
Interest income (expense), net | (3) | (97) | (470) | (298)
Warrant revaluation | (857) | 563 | (293) | (19)
Loss on modification of warrants |  |  |  | (1,128)
Derivative revaluation |  |  |  | (415)
Gain on settlement of liability, net | 0 |  | 0 | 1,251
Loss on extinguishment of debt |  |  | 1,225 |
Loss on litigation |  |  |  | (266)
Loss on issuance of convertible notes |  |  |  | (1,870)
Other income |  |  | 153 |
Total other expenses | (860) | 466 | (1,835) | (2,745)
LOSS BEFORE INCOME TAXES | (3,292) | (1,897) | (8,729) | (9,462)
NET LOSS | (3,292) | (1,897) | (8,729) | (9,462)
Less: Net income attributable to noncontrolling interest in joint venture | (10) |  | (27) |
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 | $ (3,302) | $ (1,897) | $ (12,100) | $ (9,462)
BASIC AND DILUTED LOSS PER COMMON SHARE (IN DOLLARS PER SHARE) | $ (0.21) | $ (0.31) | $ (1.01) | $ (1.85)
BASIC AND DILUTED WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING (IN SHARES) | 16,007,025 | 6,186,119 | 11,925,642 | 5,104,397
Service revenue, net [Member] |  |  |  |
Revenue, net of contractual allowances and adjustments | $ 1,998 | $ 1,020 | $ 5,072 | $ 3,125
less allowance for doubtful accounts | (422) | (262) | (1,025) | (723)
Net sales | 1,576 | 758 | 4,047 | 2,402
Total cost of sales | 1,244 | 756 | 3,472 | 2,201
Other [Member] |  |  |  |
Revenue, net of contractual allowances and adjustments | 51 | $ 26 | 104 | $ 37
Total cost of sales | $ 6 |  | $ 6 |

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