NeoGenomics(NEO)

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NeoGenomics(NEO) - 2022 Q4 - Annual Report
2023-02-24 21:39
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 jurisdictio ...
NeoGenomics(NEO) - 2022 Q4 - Earnings Call Transcript
2023-02-23 21:33
Financial Data and Key Metrics Changes - Revenue for Q4 2022 was $139 million, a 10% increase year-over-year and an 8% sequential increase, marking the fourth consecutive quarter of sequential growth [7] - For the full year 2022, revenue was $510 million, a 5% increase compared to the previous year [18] - GAAP gross margin was 41%, while adjusted gross margin improved to 44.5%, a 460 basis point increase year-over-year [11] - Adjusted EBITDA loss for the full year was $48 million, with expectations for adjusted EBITDA growth to exceed revenue growth in 2023 [18][48] Business Line Data and Key Metrics Changes - Clinical Services and Pharma Services both contributed to revenue growth, with Pharma Services showing a 41% revenue increase in Q4 compared to the prior year [19] - RaDaR for Pharma experienced over 300% growth year-over-year in Q4, highlighting strong demand and performance [10] - Adjusted gross profit for the full year was $207 million, representing an adjusted gross margin of 41% [18] Market Data and Key Metrics Changes - The company served over 625,000 patients and processed over 1 million test orders in 2022, indicating strong market presence [18] - Days Sales Outstanding (DSO) improved to 79.4 days by the end of the year, reflecting better cash flow management [23] Company Strategy and Development Direction - The company initiated an organizational restructuring, including the integration of the Inivata business, expected to yield approximately $25 million in annualized operating savings [8] - A renewed focus on NGS MRD technologies, including RaDaR and Neo Comprehensive, is aimed at maintaining leadership in the oncology market [26] - The company plans to optimize its field organization and expand its oncology sales force to enhance customer experience and operational efficiency [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continuing revenue growth and operational improvements into 2023, with a revenue guidance of $545 million to $555 million, representing 7% to 9% growth [47] - The management team emphasized the importance of sustainable long-term growth rather than short-term earnings, indicating a strategic focus on reinvestment for future profitability [73] - Management acknowledged past market share losses but noted recovery efforts through field expansion and improved sales strategies [36] Other Important Information - The company is focusing on operational efficiencies and has integrated its R&D functions to capitalize on innovation opportunities [51] - The Advanced Diagnostics division is expected to drive significant growth through new product launches and a comprehensive data strategy [52] Q&A Session Summary Question: What are the growth expectations for NGS and turnaround times? - Management indicated strong growth in NGS and a competitive turnaround time of 10 days for the new Neo Comprehensive offering, with ongoing improvements expected [93] Question: How does the company view the Pharma Services market? - Management noted that while there are macro headwinds, they believe their strong relationships and focus on earlier-stage studies will drive continued growth in Pharma Services [144][149] Question: What is the outlook for RaDaR and its reimbursement strategy? - Management confirmed plans to submit for reimbursement for breast cancer in the first half of the year and colorectal cancer in the second half, emphasizing the importance of strong data for approval [142][163]
NeoGenomics(NEO) - 2022 Q4 - Earnings Call Presentation
2023-02-23 16:59
Sequential Improvement in Revenue Growth, • Adjusted EBITDA. Improved $8.6 million versus prior year due to improvement in gross profit and lower operating expenses. Balance Sheet In $Millions Dec-22 Sep-22 Total Assets 1,740.0 1,755.6 Accounts payable and other current liabilities 83.3 78.5 Current portion of equipment financing obligations 0.1 0.1 Current portion of operating lease liabilities 6.6 6.4 Total stockholders' equity 998.0 1,013.0 • Financial Flexibility to Make Needed Investments to Drive Long ...
NeoGenomics(NEO) - 2022 Q3 - Earnings Call Presentation
2022-11-09 19:29
Saving lives by improving patient care. 3 rd Quarter 2022 Earnings Results November 8th, 2022 1 2 Forward looking statement This presentation has been prepared by NeoGenomics, Inc. ("we," "us," "our," "NeoGenomics" or the "Company") and is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to r ...
NeoGenomics(NEO) - 2022 Q3 - Earnings Call Transcript
2022-11-08 18:06
NeoGenomics, Inc. (NASDAQ:NEO) Q3 2022 Results Conference Call November 8, 2022 8:30 AM ET Company Participants Chris Smith - Chief Executive Officer Bill Bonello - Chief Financial Officer Vishal Sikri - President of our Pharma Services Division, Inivata Shashi Kulkarni - President of Lab Operations and CSO Conference Call Participants Alex Nowak - Craig-Hallam Capital Andrew Brackmann - William Blair David Delahunt - Goldman Sachs Puneet Souda - SVB Securities Andrew Cooper - Raymond James Mark Massaro - B ...
NeoGenomics(NEO) - 2022 Q2 - Earnings Call Presentation
2022-08-15 16:10
| --- | --- | --- | --- | --- | --- | |-----------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | NeoGenomics Investor Presentation | | | | | | | August 2022 | | | | | | Forward-Looking Statements This presentation has been prepared by NeoGenomics, Inc. ("we," "us," "our," "NeoGenomics" or the "Company") and is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer t ...
NeoGenomics(NEO) - 2022 Q2 - Quarterly Report
2022-08-09 20:41
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 June 30, 2022 ☐ 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 incorporation ...
NeoGenomics(NEO) - 2022 Q2 - Earnings Call Transcript
2022-08-09 16:36
NeoGenomics, Inc. (NASDAQ:NEO) Q2 2022 Earnings Conference Call August 9, 2022 8:30 AM ET Company Participants Lynn Tetrault ??? Interim CEO Charlie Eidson ??? Director of Investor Relations Bill Bonello ??? Chief Financial Officer Chris Smith ??? Incoming Chief Executive Officer David Sholehvar ??? President, Clinical Division Vishal Sikri ??? President, Pharma Services Division and President-Inivata Conference Call Participants Brian Weinstein ??? William Blair Alex Nowak ??? Craig-Hallum David Westenberg ...
NeoGenomics(NEO) - 2022 Q1 - Quarterly Report
2022-05-09 20:21
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 March 31, 2022 ☐ 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 incorporation ...
NeoGenomics(NEO) - 2022 Q1 - Earnings Call Transcript
2022-04-27 18:58
NeoGenomics, Inc. (NASDAQ:NEO) Q1 2022 Earnings Conference Call April 27, 2022 8:30 AM ET Company Participants Lynn Tetrault - Executive Chair & Principal Executive Officer William Bonello - Chief Financial Officer Doug Brown - Chief Strategy and Corporate Development Officer Charlie Eidson - Director, Investor Relations Shashi Kulkarni - Chief Scientific Officer David Sholehvar - Clinical Division President Conference Call Participants Brian Weinstein - William Blair Matt Sykes - Goldman Sachs Andrew Coope ...