NeoGenomics(US:NEO)2022-02-23 18:48Company Overview - NeoGenomics' total revenue for FY 2021 was $484 million, with a year-over-year growth of 16%[8] - The company performed 1,086,768 core clinical tests in FY 2021[8] - Clinical services accounted for 83% of FY 2021 revenue, while pharma services/informatics contributed 17%[8] - As of December 31, 2021, the company had signed contracts worth over $265 million in backlog for Pharma Services[9] Market and Growth Drivers - The oncology testing market is estimated to grow at an annual rate of 6% to 8%[12] - The number of cancer survivors is projected to increase by 31.4% to 22.2 million by 2030, driving increased testing[14] - The late-phase oncology pipeline increased 100% from 2008 to 2018, with diagnostic testing being critical as additional drugs gain approval[20] Financial Performance (Q4 2021) - Clinical revenue for Q4 2021 was $104.053 million, a decrease of 2.5% compared to Q4 2020 ($106.738 million)[65] - Pharma revenue for Q4 2021 was $21.679 million, an increase of 12.6% compared to Q4 2020 ($19.259 million)[65] - The company recorded $48 million in new signed contracts for Pharma Services in Q4 2021[42] - Adjusted EBITDA for the year ended December 31, 2021, was a loss of $(4,161) thousand, compared to a profit of $34,842 thousand in 2020[70]