FORT MYERS, Fla.--(BUSINESS WIRE)--NeoGenomics will present research at ISLB 2025 showing high concordance between its RaDaR ST and RaDaR 1.0 MRD assays, plus four additional posters. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the transition period from to Commission File Number: 001-35756 NEOGENOMICS, INC. (Exact name of registrant as specified in its charter) Nevada 74-2897368 (State or other jurisdiction of incorpora ...

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NeoGenomics (NasdaqCM:NEO) Q3 2025 Earnings Call October 28, 2025 08:30 AM ET Company ParticipantsPriya Vedaraman - SVP of FinanceJeff Sherman - CFOTony Zook - CEOWarren Stone - COOConference Call ParticipantsNone - AnalystNone - AnalystNone - AnalystMason Carrico - Research AnalystAndrew Brackmann - AnalystYuko Oku - AnalystDavid Westerberg - AnalystPuneet Souda - AnalystNone - AnalystNone - AnalystPriya VedaramanGood morning everyone and welcome to the NeoGenomics third quarter 2025 financial results call ...

NeoGenomics (NasdaqCM:NEO) Q3 2025 Earnings Call October 28, 2025 08:30 AM ET Company ParticipantsPriya Vedaraman - SVP of FinanceJeff Sherman - CFOTony Zook - CEOWarren Stone - COOConference Call ParticipantsNone - AnalystNone - AnalystNone - AnalystMason Carrico - Research AnalystAndrew Brackmann - AnalystYuko Oku - AnalystDavid Westerberg - AnalystPuneet Souda - AnalystNone - AnalystNone - AnalystPriya VedaramanGood morning everyone and welcome to the NeoGenomics third quarter 2025 financial results call ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $188 million, representing a year-over-year growth of 12% and a sequential increase of 4% from Q2 2025 [11][18] - Clinical revenue grew by 18% year-over-year, while non-clinical revenue declined by 27% due to weakness in pharma revenue [18] - Adjusted EBITDA was $12.2 million, marking the ninth consecutive quarter of positive earnings [18] - Average revenue per clinical test (AUP) increased by 3% year-over-year and 4% sequentially from Q2 [19] Business Line Data and Key Metrics Changes - Clinical business revenue growth was driven by a 15% increase in test volumes and a 4% increase in AUP, excluding the Pathline acquisition [11][19] - NGS revenue grew by 24% year-over-year, accounting for 33% of total clinical revenue year-to-date [19] - Non-clinical revenue accounted for less than 9% of total revenue in Q3, consistent with expectations [12] Market Data and Key Metrics Changes - The therapy selection and MRD markets represent over $40 billion of addressable market opportunity, with MRD cancer surveillance and monitoring growing at a 30% CAGR [10][14] - The company estimates that MRD market penetration is less than 10%, indicating significant growth potential [14] Company Strategy and Development Direction - The company is focused on advancing NGS and MRD long-term growth initiatives, including the launch of the Radar ST MRD assay [5][13] - The acquisition of Pathline enhances the company's presence in the Northeast, allowing for faster turnaround times and a broader test menu [7][8] - The company aims to consolidate send-out testing to simplify operational workflows and improve patient experience [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the significant opportunities in cancer testing, particularly in community settings where 80% of cancer care is delivered [6] - The company is committed to innovation and operational excellence, which are expected to drive sustainable and profitable growth [23] - Full-year consolidated revenue guidance is revised to a range of $720 to $726 million, representing growth of 9% to 10% over 2024 [21][22] Other Important Information - The company has received Moldex approval for Radar ST in subsets of head and neck and breast cancer, with a robust launch planned for Q1 2026 [13] - Cash flow from operations was positive at $9 million, with total cash at $164 million, enabling continued investment in business growth [20] Q&A Session Summary Question: How comfortable is the company with the guidance and the latest on PanTracer LBx? - Management believes they are in a good position to meet Q4 expectations and confirmed that approval for liquid biopsy is not needed to meet guidance [25][26] Question: What are the growth drivers expected for 2026? - Growth drivers for 2026 are expected to be similar to 2025, with strong clinical performance and ongoing NGS growth [30] Question: Where is the company seeing the most wins on the customer side for NGS? - Most growth is coming from community oncology practices, with strong performance from the PanTracer family of products [38][39] Question: What is driving the acceleration in the base clinical business? - Effective execution of the Protect, Expand, Acquire strategy, new product introductions, and salesforce expansion are key drivers [66][68] Question: How is the Radar ST MRD assay being received following the favorable summary judgment? - There is increasing positive sentiment in the community oncology setting regarding the ability to re-enter the market with Radar ST [81] Question: What is the company's strategy for the LIMS rollout? - The LIMS consolidation is expected to deliver efficiencies and cost benefits, with early benefits anticipated in 2026 [44][47]

Core Insights - NeoGenomics reported quarterly earnings of $0.03 per share, exceeding the Zacks Consensus Estimate of $0.02 per share, but down from $0.05 per share a year ago, resulting in an earnings surprise of +50.00% [1] - The company generated revenues of $187.8 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.27% and increasing from $167.82 million year-over-year [2] - NeoGenomics shares have declined approximately 38.4% year-to-date, contrasting with the S&P 500's gain of 16.9% [3] Earnings Outlook - The future performance of NeoGenomics stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $189.51 million, and for the current fiscal year, it is $0.09 on revenues of $722.29 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which NeoGenomics belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - The correlation between near-term stock movements and earnings estimate revisions suggests that tracking these revisions can provide insights into stock performance [5]

Financial Performance - Clinical revenue increased by 18%[17], or 15% excluding Pathline[20] - Clinical volume grew by 15%[19], or 10% excluding Pathline[20] - NGS revenue increased by 24% year-over-year[20] - Adjusted gross profit was $85 million, a 7% increase from the prior year[19, 20] - Adjusted EBITDA was $12 million, representing a 9% decrease[19] Financial Overview (Q3 2025 vs Q3 2024) - Revenue increased by 11.9% to $187.8 million[22] from $167.8 million[22] - Adjusted gross profit increased by 6.6% to $85.4 million[22] from $80.1 million[22] - Adjusted gross margin decreased by 228 bps to 45.5%[22] from 47.8%[22] - Adjusted EBITDA decreased by 8.5% to $12.2 million[22] from $13.4 million[22] - Cash and cash equivalents decreased by 54.7% to $164.1 million[22] from $361.9 million[22] FY 2025 Guidance - Revenue is projected to be between $720 million and $726 million, representing a year-over-year growth of 9% to 10%[21] - Adjusted EBITDA is projected to be between $41 million and $44 million, representing a year-over-year growth of 3% to 10%[21]

Revenue Performance - Total revenue for Q3 2025 increased 12% year-over-year to $188 million, driven by an 18% growth in clinical revenue[1][2] - NGS revenue grew 24% year-over-year and now represents nearly one-third of clinical revenue[1][2] - Net revenue for the three months ended September 30, 2025, was $187.8 million, a 11.8% increase from $167.8 million in the same period of 2024[20] - Total revenue for Q3 2025 reached $187.8 million, an increase of 11.9% compared to $167.8 million in Q3 2024[30] - For the nine months ended September 30, 2025, total revenue was $537.2 million, a 9.9% increase from $488.6 million in the same period of 2024[30] Profitability Metrics - Consolidated gross profit for Q3 2025 was $80 million, a 7% increase compared to Q3 2024, resulting in a gross profit margin of 43%[4][5] - Gross profit for Q3 2025 was $80.4 million, reflecting a 7.4% increase from $74.9 million in Q3 2024[30] - Adjusted net income for Q3 2025 was $3.6 million, compared to $6.9 million in Q3 2024, indicating a decrease of 47.4%[34] - Adjusted EBITDA for Q3 2025 was positive $12 million, a decline of 9% from the prior year[4][7] - Adjusted EBITDA for the three months ended September 30, 2025, was $12.2 million, compared to $13.4 million in the same period of 2024, a decrease of 9.0%[28] - Adjusted EBITDA for 2025 is forecasted to be between $41 million and $44 million[39] Expenses and Losses - Operating expenses for Q3 2025 were $107 million, reflecting a 12% increase compared to Q3 2024[6] - Total operating expenses for the three months ended September 30, 2025, were $107.5 million, up from $96.1 million in the same period of 2024, representing an increase of 11.5%[20] - Net loss for the quarter increased 53% to $27 million compared to a net loss of $18 million in Q3 2024[7] - The net loss for the nine months ended September 30, 2025, was $98.1 million, compared to a net loss of $63.4 million for the same period in 2024, indicating a deterioration of 54.8%[22] - The company expects a GAAP net loss in 2025 to be between $116 million and $108 million[39] Cash and Assets - Cash and cash equivalents totaled $164 million at the end of Q3 2025, down from $367 million at the end of FY 2024[7][18] - Total assets decreased to $1.375 billion as of September 30, 2025, from $1.638 billion at the end of FY 2024[18] - Cash and cash equivalents at the end of the period were $164.1 million, down from $362.0 million at the end of September 2024, a decline of 54.7%[22] Shareholder Metrics - The company reported a basic net loss per share of $0.21 for the three months ended September 30, 2025, compared to a loss of $0.14 per share in the same period of 2024[20] - The weighted average shares outstanding for the three months ended September 30, 2025, were 128.4 million, compared to 127.0 million in the same period of 2024[20] Research and Development - Research and development expenses for the nine months ended September 30, 2025, increased to $27.9 million from $23.2 million in 2024, an increase of 20.3%[20] Guidance and Projections - The company reaffirmed its full-year 2025 guidance, projecting consolidated revenue between $720 million and $726 million, a 9% to 10% increase from FY 2024[8] - Adjusted diluted EPS for 2025 is projected to be between $0.08 and $0.12[39]

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