Core Insights - NEO Battery Materials Ltd. has signed a Memorandum of Understanding with OCSiAl LLC to utilize single wall carbon nanotubes in the development of high-specification silicon anodes for lithium-ion batteries [1][4] - The collaboration aims to enhance battery cycling stability, initial specific capacity, and coulombic efficiency, targeting applications in electric vehicles and electronics [2][3] Company Overview - NEO Battery Materials is focused on developing low-cost silicon anode materials for lithium-ion batteries, aiming to lead the market in electric vehicle and energy storage applications [6] - OCSiAl is the world's largest producer of single wall carbon nanotubes, with a new production facility in Serbia capable of producing 60 tonnes of SWCNTs annually, sufficient for enhancing up to 65 GWh of lithium-ion batteries [5] Technological Advancements - The use of OCSiAl's TUBALL™ carbon nanotubes can increase battery cycle life by up to 4 times when integrated into silicon anodes, improving their structural and electrochemical properties [3] - The partnership is expected to reduce the cost of silicon anode materials, facilitating broader adoption in lithium-ion electric vehicle batteries [4]

Core Insights - NEO Battery Materials Ltd. is hosting a corporate webinar on December 5, 2024, to discuss its advancements in silicon anode materials and strategies for the EV and battery market [1] - The company has granted 1,350,000 incentive stock options to directors and officers at an exercise price of $0.94, expiring on November 25, 2029 [2] - NEO Battery Materials focuses on developing low-cost silicon anode materials for lithium-ion batteries, aiming to become a leading global producer in the electric vehicle and energy storage sectors [3] Company Developments - The upcoming webinar will provide updates on commercialization pathways, partnerships, and milestones, highlighting the company's growth trajectory and innovation focus [1] - The stock options granted are part of a 10% rolling stock option plan, indicating the company's commitment to incentivizing its leadership team [2] - NEO's patented manufacturing process allows for the production of longer-lasting and ultra-fast charging batteries compared to existing technologies [3]

Core Viewpoint - NEO Battery Materials Ltd. has appointed Mr. Seok Hyung Lee as an independent director to enhance corporate governance and strategy, particularly in navigating South Korea's legal and business environments [1][4][5]. Group 1: Appointment of Mr. Seok Hyung Lee - Mr. Seok Hyung Lee brings over 50 years of legal and public service experience, having held significant positions such as Lead Attorney-at-Law for a former South Korean President and Presiding Judge of the Seoul High Court [2]. - His extensive background includes roles as an Independent Director at HD Hyundai Electric and KB Financial Group subsidiaries, showcasing his expertise in both legal and corporate governance [3]. - As an independent director, Mr. Lee will leverage his network in politics, finance, and commerce to create valuable connections for NEO, aiding in the growth of its battery business [4]. Group 2: Corporate Governance and Strategy - NEO is transitioning its board of directors to form a "Battery Board" composed of industry, finance, and governmental professionals to enhance the commercialization of its silicon anode technology [6]. - The transition process is expected to be completed within the next six months, indicating a strategic shift towards aligning board members with the company's business objectives [6][7]. - The company aims to secure highly qualified personnel to support the commercialization of its silicon battery technology, reflecting its commitment to growth in the Asia-Pacific region [5]. Group 3: Company Overview - NEO Battery Materials is focused on developing low-cost silicon anode materials for lithium-ion batteries, targeting applications in electric vehicles, electronics, and energy storage systems [8]. - The company utilizes a patent-protected manufacturing process that enables longer-lasting and ultra-fast charging batteries compared to existing technologies, positioning itself as a potential global leader in the battery materials sector [8].

Core Viewpoint - NeoGenomics (NEO) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which have a strong correlation with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in stock price movements [4]. Company Performance Indicators - For the fiscal year ending December 2024, NeoGenomics is expected to earn $0.05 per share, reflecting a 141.7% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for NeoGenomics has risen by 3.9%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of NeoGenomics to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Operations and Services - As of September 30, 2024, NeoGenomics operates CAP accredited and CLIA certified laboratories in multiple locations across the U.S. and the U.K., enhancing its service capabilities[88] - NeoGenomics is a leading provider of Heme oncology Dx testing and solid tumor NGS testing solutions, with NGS panels being one of the fastest growing testing areas[91] - The Advanced Diagnostics segment supports pharmaceutical firms with clinical trials and research, providing comprehensive testing services from discovery to commercialization[92] - NeoGenomics plans to launch Neo Comprehensive 2.0 and liquid biopsy Comprehensive Genetic Profiling (CGP) in 2024, which are expected to enhance its service offerings[95] - NeoGenomics offers a comprehensive suite of technical and professional interpretation services, allowing clients flexibility in choosing testing options[98] - The direct sales force is organized into nine regions in the U.S. and focuses on value-based care solutions to enhance client experience[99] - The acquisition of Inivata in June 2021 provided NeoGenomics with oncology liquid biopsy technology capabilities, which are expected to be a key growth driver[91] Financial Performance - Total revenue for Q3 2024 was $167.8 million, an increase of $15.9 million (10.4%) year-over-year, and for the nine months ended September 30, 2024, total revenue was $488.6 million, an increase of $52.5 million (12.0%) year-over-year[105] - Clinical Services revenue for Q3 2024 increased by $18.2 million (14.3%) compared to Q3 2023, and for the nine months ended September 30, 2024, it increased by $56.1 million (15.4%) compared to the same period in 2023[104] - Advanced Diagnostics revenue for Q3 2024 decreased by $2.4 million (9.7%) compared to Q3 2023, and for the nine months ended September 30, 2024, it decreased by $3.7 million (5.2%) compared to the same period in 2023[106] - Gross profit margin for Q3 2024 improved to 44.6% from 41.0% in Q3 2023, and for the nine months ended September 30, 2024, it improved to 43.6% from 40.6% in the same period of 2023[109] - The net loss for the three months ended September 30, 2024, was $17.7 million, compared to a net loss of $18.5 million for the same period in 2023[122] - Adjusted EBITDA for the three months ended September 30, 2024, was $13.4 million, compared to $3.3 million for the same period in 2023[127] Expenses and Costs - Consolidated cost of revenue increased by 3.7% for Q3 2024 and 6.4% for the nine months ended September 30, 2024, primarily due to higher compensation and benefit costs, increased supplies expense, and higher depreciation expense[109] - General and administrative expenses increased by $5.5 million (8.9%) for Q3 2024 compared to Q3 2023, and by $12.8 million (7.0%) for the nine months ended September 30, 2024 compared to the same period in 2023[110] - Research and development expenses increased by $2.4 million (45.4%) for Q3 2024 compared to Q3 2023, and by $3.0 million (14.9%) for the nine months ended September 30, 2024 compared to the same period in 2023[113] - Sales and marketing expenses increased by $2.8 million (15.9%) for the three months ended September 30, 2024, compared to the same period in 2023, primarily due to a $2.6 million increase in compensation and benefits costs[114] - For the nine months ended September 30, 2024, sales and marketing expenses rose by $9.5 million (18.1%) compared to the same period in 2023, mainly driven by a $9.0 million increase in compensation and benefits costs[114] Cash Flow and Liquidity - Cash used in operating activities for the nine months ended September 30, 2024, was $2.8 million, a significant decrease of $17.0 million compared to $19.7 million in the same period in 2023[131] - Cash provided by investing activities was $18.3 million for the nine months ended September 30, 2024, down from $59.5 million in the same period in 2023, primarily due to a $40.2 million decrease in proceeds from maturities of marketable securities[132] - Cash provided by financing activities increased to $4.0 million for the nine months ended September 30, 2024, compared to $3.3 million in the same period in 2023, driven by net issuance of common stock[133] - As of September 30, 2024, the company had $362.0 million in unrestricted cash and cash equivalents, along with $25.8 million in marketable securities, sufficient to support operational liquidity needs for at least the next 12 months[134] - The company experienced an improvement in gross profit of $35.8 million, contributing to the decrease in cash used in operating activities[131] Future Outlook and Strategic Initiatives - The company aims to profitably grow its core business by increasing volume and NGS mix, driving market penetration, and improving revenue cycle management[95] - The company anticipates an increase in research and development expenditures in the future to support innovation projects and new test development[113] - The company plans to continue funding capital expenditures with cash, reflecting a commitment to executing its business plan and maintaining growth[135] - Capital expenditures for the year ending December 31, 2024, are anticipated to be in the range of $35.0 million to $40.0 million, with approximately $29.5 million spent on capital equipment, software, and leasehold improvements during the nine months ended September 30, 2024[135] Regulatory and Market Factors - The FDA announced a final rule on Laboratory Developed Tests (LDTs) that will phase out general enforcement discretion over four years, impacting the regulatory landscape for the company's testing services[103] - The company noted that clinical testing volume is affected by seasonality and external factors such as weather conditions, which can impact revenues and cash flows[102] - The company does not hedge foreign currency exchange risks and does not currently believe that these risks are significant, despite having operations in the United Kingdom[141] - The fair value of the 2025 and 2028 Convertible Notes is exposed to interest rate risk, but the company does not have economic interest rate exposure due to fixed annual interest rates of 1.25% and 0.25%, respectively[140] Restructuring and Charges - Restructuring charges decreased by $1.1 million (52.5%) for the three months ended September 30, 2024, and by $4.9 million (49.9%) for the nine months ended September 30, 2024, compared to the same periods in 2023[115] - The company expects to incur additional restructuring charges of approximately $0.6 million as part of its ongoing restructuring program, which is expected to be completed by December 31, 2024[116] - The company continues to evaluate the effectiveness of its incentive compensation plans in relation to sales and marketing expenses[114] Interest and Debt - Interest income for the three months ended September 30, 2024, was $4.7 million, an increase of $0.148 million (3.3%) compared to $4.5 million in the same period in 2023[117] - Interest expense decreased by $0.043 million (2.6%) for the three months ended September 30, 2024, totaling $1.6 million compared to $1.7 million in the same period in 2023[118] - The effective interest rates on the 2028 and 2025 Convertible Notes are 0.70% and 1.96%, respectively, with interest accruing upon issuance and payable semiannually[118]

Financial Data and Key Metrics Changes - Total revenues grew 10% year-over-year to $168 million, with clinical services revenue increasing 14% to $146 million [33][34] - Adjusted EBITDA improved 305% from the prior year to positive $13 million, marking the fifth consecutive quarter of positive adjusted EBITDA [18][34] - Adjusted gross profit rose 19% to $80 million, with adjusted gross margins improving by 355 basis points to 47.8% [34][40] Business Line Data and Key Metrics Changes - Clinical business revenues grew 14%, driven by a 9% increase in testing volume and a 5% increase in revenue per test [35][36] - NGS testing revenue increased 26%, representing 31% of total clinical volume and revenue [17][20] - The company achieved a 14th consecutive quarter of improvement in revenue per test, which rose 5% to $463 [37] Market Data and Key Metrics Changes - The company noted robust organic volume growth across its portfolio, with all modalities growing faster than the overall market [20] - The demand for NGS testing continues to drive revenue growth, with significant adoption in community oncology settings [36][66] Company Strategy and Development Direction - The company aims to democratize precision oncology testing, focusing on community oncology settings where 85% of cancer patients are treated [12][13] - Investments are being directed towards expanding commercial resources and launching new tests, including NEO AML Express and NEO Comprehensive solid tumor tests [22][95] - The company is committed to innovation, with plans to launch NEO Helix, a digital platform for customer support, in early 2025 [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the market's growth potential, particularly in NGS and community oncology [66][70] - The company anticipates continued strong performance in Q4 and plans to provide updated long-term revenue growth targets in February 2025 [43][44] - Management acknowledged some impact from recent hurricanes but expects recovery in the coming quarters [92][93] Other Important Information - The company ended Q3 with cash and marketable securities of $388 million, maintaining a strong liquidity profile [41][42] - A settlement related to ongoing litigation with Natera was announced, allowing the company to focus on developing new products [31] Q&A Session Summary Question: Profitability evolution and margin balance - Management discussed the balance between continued investment in growth opportunities and margin expansion, indicating confidence in achieving both [48][50] Question: Demand dynamics from large pharma customers - Management acknowledged a slowing market growth but noted that oncology remains a key focus for top pharma companies [56][58] Question: NGS market headroom and competition - Management expressed optimism about the NGS market's growth potential, particularly in community oncology, despite competitive pressures [66][70] Question: Capital deployment and acquisition opportunities - Management confirmed a strong cash position and ongoing exploration of strategic acquisition opportunities to enhance capabilities [78][82] Question: R&D spend for new product development - Management indicated that R&D costs have been absorbed into current financials, with plans to invest more in R&D for future growth [106][107]

Exhibit 99.1 NeoGenomics Reports Third Quarter 2024 Results Adjusted EBITDA Improves 305%; Fifth Consecutive Quarter of Positive Adjusted EBITDA; Increasing FY Guidance to $37-$40 Million Fort Myers, Florida (November 5, 2024) - NeoGenomics, Inc. (NASDAQ: NEO) (the "Company"), a leading oncology testing services company, today announced its third-quarter results for the period ended September 30, 2024. | --- | |-----------------------------------------------------------------------------------| | | | Third ...

NeoGenomics (NEO) closed the last trading session at $14, gaining 0.4% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $21.18 indicates a 51.3% upside potential.The average comprises 11 short-term price targets ranging from a low of $18 to a high of $30, with a standard deviation of $3.74. While the lowest estimate indicates an increase of 28.6% from the current price level, the mo ...

Letter of Intent Signed with Lotus Energy Recycling for Canadian Joint VentureTo Collaborate on Recycling End-of-Life Photovoltaic (PV) Cells and Solar Panels in North America Focus on Recovering Valuable Silicon Materials for Battery Applications Initiated Recovered Silicon Material Testing and Evaluation for Anode Active Material Development in Lithium-Ion Batteries TORONTO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. (“NEO” or the “Company”) (TSXV: NBM) (OTC: NBMFF), a low-cost silicon a ...

A downtrend has been apparent in NeoGenomics (NEO) lately. While the stock has lost 6.6% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the s ...