Neogenomics Inc

NEO

Equity

ISIN US64049M2098 / Valor 1589606

NASDAQ (2024-12-24)

USD 17.15+3.75%

Neogenomics Inc
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About company

NeoGenomics Inc is a specialized laboratory and diagnostics company with a primary focus on cancer-related services. For over 18 years, it has been at the forefront of providing comprehensive testing and analysis for cancer diagnostics and clinical trials. The company operates on a global scale, employing a diverse team of professionals including physicians, scientists, and laboratory experts. These professionals collaborate closely with cancer care teams to offer critical oncological insights, aiming to significantly improve patient outcomes. NeoGenomics positions itself as a key player in the oncology sector by offering a range of services tailored to meet the needs of oncologists, pathologists, pharmaceutical companies, and academic institutions. Its offerings encompass diagnostic services, pharmaceutical services, and information services, all designed to facilitate the advancement of cancer care and treatment. Through its dedication to innovation and patient care, NeoGenomics strives to contribute to the development of new and improved cancer therapies, thereby enhancing the quality of life for those affected by cancer.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

NeoGenomics Inc. reported consolidated revenue of $165 million for the second quarter of 2024, marking a 12% increase compared to the same period in 2023. This growth was driven primarily by a 15% year-over-year increase in Clinical Services revenue, which reached $141 million.

Net Loss Reduction

For the second quarter of 2024, NeoGenomics Inc. saw a significant reduction in net loss, which decreased by 23% to $19 million. This is an improvement from the net loss of $24 million reported in the second quarter of 2023.

Adjusted EBITDA Improvement

NeoGenomics Inc. achieved a substantial increase in Adjusted EBITDA for the second quarter of 2024, reaching positive $11 million. This represents a 630% improvement compared to the negative $2 million Adjusted EBITDA reported in the same quarter of the previous year.

Gross Profit Margin

The company's consolidated gross profit for the second quarter of 2024 was $72.5 million, a 21% increase from the second quarter of 2023. The consolidated gross profit margin, including amortization of acquired intangible assets and stock-based compensation expense, was 44.1%.

Revised Financial Guidance

NeoGenomics Inc. has revised its full-year 2024 financial guidance. The company now expects consolidated revenue to be in the range of $655 million to $667 million, and Adjusted EBITDA to be between $33 million and $37 million, reflecting an optimistic outlook for the remainder of the year.

Summarized from source with an LLMView Source

Key figures

-17.3%1Y

-50.0%3Y

-42.5%5Y

Performance

51.1%1Y

70.3%3Y

64.9%5Y

Volatility