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NEO

NeoGenomics, Inc.

NEO

NeoGenomics, Inc. • NASDAQ
$12.10 ▼ -0.25% (-0.03)
Market Cap $309.11 M
52w High $19.11
52w Low $4.72
Dividend Yield 0%
P/E -13.6
Volume 966.03K
Outstanding Shares 25.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $187.797M ▲ $107.46M ▼ $-27.129M ▲ -14.446% ▲ $-1.05 ▲ $-9.952M ▲
Q2-2025 $181.33M ▲ $124.886M ▲ $-45.092M ▼ -24.867% ▼ $-1.75 ▼ $-27.619M ▼
Q1-2025 $168.035M ▼ $101.071M ▲ $-25.923M ▼ -15.427% ▼ $-1 ▼ $-6.311M ▼
Q4-2024 $172M ▲ $95.658M ▼ $-15.324M ▲ -8.909% ▲ $-0.6 ▲ $3.684M ▲
Q3-2024 $167.824M $96.077M $-17.699M -10.546% $-0.7 $1.778M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $164.117M ▲ $1.375B ▼ $536.49M ▼ $838.29M ▼
Q2-2025 $163.685M ▼ $1.394B ▼ $539.91M ▼ $854.04M ▼
Q1-2025 $358.08M ▼ $1.601B ▼ $713.161M ▼ $888.269M ▼
Q4-2024 $386.844M ▼ $1.638B ▼ $735.699M ▲ $902.339M ▼
Q3-2024 $387.813M $1.641B $732.901M $908.21M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-27.129M ▲ $8.884M ▼ $-277K ▲ $765K ▲ $9.394M ▲ $570K ▼
Q2-2025 $-45.092M ▼ $20.33M ▲ $-9.314M ▼ $-202.433M ▼ $-191.471M ▼ $14.007M ▲
Q1-2025 $-25.923M ▼ $-25.327M ▼ $3.56M ▲ $949K ▲ $-20.818M ▼ $-29.827M ▼
Q4-2024 $-15.324M ▲ $9.8M ▲ $-5.467M ▼ $687K ▼ $5.02M ▼ $-1.799M ▼
Q3-2024 $-17.699M $9.246M $-3.516M $1.177M $6.907M $-1.553M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Commercial Insurance
Commercial Insurance
 $0 ▲$20.00M ▲$30.00M ▲$30.00M ▲
Clinical Services
Clinical Services
 $150.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement NeoGenomics has grown its revenue steadily over the past five years, showing that demand for its cancer testing services is rising. At the same time, the company continues to post operating and net losses. Losses widened meaningfully a couple of years ago and have since been narrowing, but the business is still not yet profitable. Gross profit has improved as revenue scaled, yet overall costs for operations, innovation, and infrastructure remain high relative to sales. The story here is clear: solid top-line momentum, but the path to consistent earnings is still in progress and depends on better cost control and stronger contribution from newer, higher-value tests.

Balance Sheet

Balance Sheet The balance sheet is relatively robust for a company that is still losing money. NeoGenomics holds a meaningful cash cushion, and its equity base is comfortably larger than its debt, which has remained fairly stable. Total assets have edged down slightly from their peak, reflecting some burn of financial resources as losses accumulated. Debt levels are not extreme, but they do add pressure for the company to eventually deliver stronger cash generation. Overall, the balance sheet provides some flexibility, but there is not unlimited room to absorb prolonged losses without adjustment.

Cash Flow

Cash Flow Cash generation has been the weak spot. Operating cash flow has hovered around breakeven, moving from clearly negative to just about flat more recently, which is an improvement but still fragile. Free cash flow has been consistently negative because the company continues to invest in equipment, labs, and technology while not yet producing strong cash earnings. Capital spending has been steady, signaling ongoing commitment to growth and innovation. The key question going forward is whether rising revenue and scaling of new tests can turn cash flows sustainably positive before the balance sheet comes under strain.

Competitive Edge

Competitive Edge NeoGenomics occupies a focused niche in cancer diagnostics, which gives it meaningful competitive strengths. Its “one-stop” oncology testing platform, deep relationships with community oncologists, and broad test menu make it a valuable partner for doctors and treatment centers. The Pharma Services segment further strengthens its position by embedding the company in drug development, clinical trials, and companion diagnostics. However, it still operates in a highly competitive market with large national labs, regional players, and emerging liquid-biopsy firms. Its success depends on maintaining superior service, fast turnaround times, and clinical relevance while managing pricing and reimbursement pressures.

Innovation and R&D

Innovation and R&D Innovation is a clear highlight. The company has invested heavily in next-generation sequencing, liquid biopsy, and advanced oncology panels, positioning itself at the leading edge of precision cancer diagnostics. The RaDaR minimal residual disease test, with regulatory recognition, is a standout asset with significant potential if adoption and insurance coverage expand. Additional platforms in liquid biopsy, AI-driven spatial analysis, and partnerships with lower-cost sequencing providers show a strong pipeline and an eye on both science and economics. The flip side is that these innovation efforts are expensive and take time to scale, so there is execution and commercialization risk alongside the opportunity.

Summary

NeoGenomics combines a steadily growing revenue base and strong innovation engine with ongoing financial losses and negative free cash flow. Its specialized focus in oncology diagnostics and deep integration with both clinicians and pharmaceutical partners give it a credible competitive footing in an attractive, growing field. At the same time, the company must convert its scientific and commercial strengths into durable profitability and stronger cash generation, while managing debt and continued investment needs. The long-term picture hinges on successful adoption and reimbursement of its advanced tests—especially in liquid biopsy and minimal residual disease—and on careful balancing of growth ambitions with financial discipline.

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