First Quarter Revenue Increased 14% to $156
Million
NeoGenomics, Inc. (NASDAQ: NEO) (the
“Company”), a leading provider of oncology testing
and global contract research services, today announced its
first-quarter results for the period ended March 31, 2024.
Highlights
- Consolidated revenue increased 14% to $156 million
- Clinical Services revenue increased 17% to $135
million
- Advanced Diagnostics revenue decreased 3% to $22
million
- Net loss decreased 12% to $27 million
- Adjusted EBITDA was positive $3 million, an increase of 149%
or $11 million
“NeoGenomics had a strong start to 2024, with first quarter
revenue growth of 14% year-over-year driven by solid execution and
teamwork across our organization,” said Chris Smith, CEO of
NeoGenomics. “We’re pleased with our performance, highlighted by
another consecutive quarterly improvement in revenue per test and
increased adoption of our NGS products. We remain confident in our
ability to execute on our growth plans this year based on our
progress.”
First-Quarter Results
Consolidated revenue for the first quarter of 2024 was $156
million, an increase of 14% over the same period in 2023. Clinical
Services revenue of $135 million was an increase year-over-year of
17%. Clinical test volume(1) increased by 5% year-over-year.
Average revenue per clinical test (“revenue per test”) increased by
11% to $447. Advanced Diagnostics revenue decreased by 3% to $22
million compared to the first quarter of 2023.
Consolidated gross profit for the first quarter of 2024 was
$65.5 million, an increase of 19.4% compared to the first quarter
of 2023. This increase was primarily due to an increase in revenue.
Consolidated gross profit margin, including amortization of
intangible assets and stock-based compensation expense, was 41.9%.
Adjusted Gross Profit Margin(2), excluding amortization of
intangible assets and stock-based compensation expense, was
45.3%.
Operating expenses for the first quarter of 2024 were $96
million, an increase of $6 million, or 6.8%, compared to the first
quarter of 2023. This increase was primarily due to an increase in
legal and professional fees, and an increase in compensation and
benefit costs. These increases were partially offset by a decrease
in technology and equipment costs, and a decrease in credit card
fees.
Net loss for the quarter was $27 million compared to net loss of
$31 million for the first quarter of 2023.
Adjusted EBITDA(2) was positive $3 million compared to negative
$7 million in the first quarter of 2023. Adjusted Net Loss(2) was
$3 million compared to Adjusted Net Loss(2) of $12 million in the
first quarter of 2023.
Cash and cash equivalents and marketable securities totaled $385
million at quarter end.
2024 Financial
Guidance(3)
The Company reaffirmed its full-year 2024 guidance(3), initially
issued on February 20, 2024.
FY 2023
Reaffirmed FY 2024
Guidance
YOY % Change from FY
2023
Actual
Low
High
Low
High
Consolidated revenue
$592
$650
$660
10%
12%
Net loss
$(88)
$(72)
$(66)
18%
25%
Adjusted EBITDA
$3
$21
$24
600%
700%
________________________________________
(1)
Clinical tests exclude tests and
revenue for Advanced Diagnostics.
(2)
The Company has provided adjusted
financial information that has not been prepared in accordance with
GAAP, including Adjusted EBITDA, Adjusted Gross Profit Margin,
Adjusted Net Loss, and Adjusted Diluted EPS. Each of these measures
is defined in the section of this report entitled “Use of Non-GAAP
Financial Measures.” See also the tables reconciling such measures
to their closest GAAP equivalent.
(3)
The Company reserves the right to
adjust this guidance at any time based on the ongoing execution of
its business plan. Current and prospective investors are encouraged
to perform their own due diligence before buying or selling any of
the Company’s securities, and are reminded that the foregoing
estimates should not be construed as a guarantee of future
performance.
Conference Call
The Company has scheduled a webcast and conference call to
discuss its first quarter 2024 results on Tuesday, April 30, 2024
at 8:30 a.m. Eastern Time. To access the live call via telephone,
interested investors should dial (877) 545-0523 (domestic) or (973)
528-0016 (international) at least five minutes prior to the call.
The participant access code provided for this call is 700733. The
live webcast may be accessed by visiting the Investor Relations
section of our website at ir.neogenomics.com. A replay of the
webcast will be available shortly after the conclusion of the call
and will be archived on the company’s website.
About NeoGenomics, Inc.
NeoGenomics, Inc. specializes in cancer genetics testing and
information services, providing one of the most comprehensive
oncology-focused testing menus in the world for physicians to help
them diagnose and treat cancer. The Company’s Advanced Diagnostics
Division serves pharmaceutical clients in clinical trials and drug
development.
NeoGenomics is committed to connecting patients with life
altering therapies and trials. We believe that, together, with our
partners, we can help patients with cancer today and the next
person diagnosed tomorrow. In carrying out these commitments,
NeoGenomics adheres to relevant data protection laws, provides
transparency and choice to patients regarding the handling and use
of their data through our Notice of Privacy Practices, and has
invested in leading technologies to secure the data we
maintain.
Headquartered in Fort Myers, FL, NeoGenomics operates CAP
accredited and CLIA certified laboratories for full-service sample
processing in Fort Myers, Florida; Aliso Viejo and San Diego,
California; Research Triangle Park, North Carolina; and Houston,
Texas; and a CAP accredited full-service, sample-processing
laboratory in Cambridge, United Kingdom. NeoGenomics also has
several, small, non-processing laboratory locations across the
United States for providing analysis services. NeoGenomics serves
the needs of pathologists, oncologists, academic centers, hospital
systems, pharmaceutical firms, integrated service delivery
networks, and managed care organizations throughout the United
States, and a pharmaceutical firm in Europe.
Forward-Looking Statements
This press release includes forward-looking statements. These
forward-looking statements generally can be identified by the use
of words such as “anticipate,” “expect,” “plan,” “could,” “would,”
“may,” “will,” “believe,” “estimate,” “forecast,” “goal,”
“project,” “guidance,” “plan,” “potential” and other words of
similar meaning, although not all forward-looking statements
include these words. These forward-looking statements address
various matters, including statements regarding improving
operational efficiency, returning to profitable growth and its
ongoing executive recruitment process. Each forward-looking
statement contained in this press release is subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statement.
Applicable risks and uncertainties include, among others, the
Company's ability to identify and implement appropriate financial
and operational initiatives to improve performance, to identify and
recruit executive candidates, to continue gaining new customers,
offer new types of tests, integrate its acquisitions and otherwise
implement its business plan, and the risks identified under the
heading "Risk Factors" contained in the Company's Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and the Company's other
filings with the Securities and Exchange Commission.
We caution investors not to place undue reliance on the
forward-looking statements contained in this press release. You are
encouraged to read our filings with the SEC, available at
www.sec.gov, for a discussion of these and other risks and
uncertainties. The forward-looking statements in this press release
speak only as of the date of this document (unless another date is
indicated), and we undertake no obligation to update or revise any
of these statements. Our business is subject to substantial risks
and uncertainties, including those referenced above. Investors,
potential investors, and others should give careful consideration
to these risks and uncertainties.
NeoGenomics, Inc.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(in thousands)
(unaudited)
March 31, 2024
December 31, 2023
ASSETS
Current assets
Cash and cash equivalents
$
331,914
$
342,488
Marketable securities, at fair value
52,916
72,715
Accounts receivable, net
140,279
131,227
Inventories
20,320
24,156
Prepaid assets
19,155
17,987
Other current assets
9,312
8,239
Total current assets
573,896
596,812
Property and equipment, net
87,865
92,012
Operating lease right-of-use assets
86,578
91,769
Intangible assets, net
364,764
373,128
Goodwill
522,766
522,766
Other assets
4,470
4,742
Total non-current assets
1,066,443
1,084,417
Total assets
$
1,640,339
$
1,681,229
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities
Accounts payable and other current
liabilities
$
72,223
$
90,694
Current portion of operating lease
liabilities
4,487
5,610
Total current liabilities
76,710
96,304
Long-term liabilities
Convertible senior notes, net
538,923
538,198
Operating lease liabilities
64,773
67,871
Deferred income tax liabilities, net
23,490
24,285
Other long-term liabilities
13,033
13,034
Total long-term liabilities
640,219
643,388
Total liabilities
$
716,929
$
739,692
Stockholders’ equity
Total stockholders’ equity
$
923,410
$
941,537
Total liabilities and stockholders’
equity
$
1,640,339
$
1,681,229
NeoGenomics, Inc.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(in thousands, except per
share amounts)
(unaudited)
Three Months Ended March
31,
2024
2023
NET REVENUE
Clinical Services
$
134,535
$
114,869
Advanced Diagnostics
21,705
22,351
Total net revenue
156,240
137,220
COST OF REVENUE
90,771
82,406
GROSS PROFIT
65,469
54,814
Operating expenses:
General and administrative
65,797
61,549
Research and development
7,620
7,395
Sales and marketing
20,221
16,259
Restructuring charges
2,398
4,684
Total operating expenses
96,036
89,887
LOSS FROM OPERATIONS
(30,567
)
(35,073
)
Interest income
(4,834
)
(3,224
)
Interest expense
1,685
1,757
Other expense (income), net
263
114
Loss before taxes
(27,681
)
(33,720
)
Income tax benefit
(620
)
(2,925
)
NET LOSS
$
(27,061
)
$
(30,795
)
NET LOSS PER SHARE
Basic
$
(0.21
)
$
(0.25
)
Diluted
$
(0.21
)
$
(0.25
)
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING
Basic
126,111
125,026
Diluted
126,111
125,026
NeoGenomics, Inc.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Three Months Ended March
31,
2024
2023
CASH FLOWS FROM OPERATING
ACTIVITIES
Net loss
$
(27,061
)
$
(30,795
)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation
9,905
9,048
Amortization of intangibles
8,362
8,783
Non-cash stock-based compensation
7,774
4,758
Non-cash operating lease expense
2,401
2,330
Amortization of convertible debt discount
and debt issue costs
725
715
Impairment of assets
145
923
Other adjustments
(57
)
(31
)
Changes in assets and liabilities, net
(28,109
)
(8,423
)
Net cash used in operating activities
(25,915
)
(12,692
)
CASH FLOWS FROM INVESTING
ACTIVITIES
Purchases of marketable securities
—
(6,756
)
Proceeds from maturities of marketable
securities
20,110
40,425
Purchases of property and equipment
(5,585
)
(9,927
)
Net cash provided by investing
activities
14,525
23,742
CASH FLOWS FROM FINANCING
ACTIVITIES
Repayment of equipment financing
obligations
—
(32
)
Issuance of common stock, net
816
1,411
Net cash provided by financing
activities
816
1,379
Net change in cash and cash
equivalents
(10,574
)
12,429
Cash and cash equivalents, beginning of
period
342,488
263,180
Cash and cash equivalents, end of
period
$
331,914
$
275,609
Use of Non-GAAP Financial Measures
In order to provide greater transparency regarding our operating
performance, the financial results and financial guidance in this
press release refer to certain non-GAAP financial measures that
involve adjustments to GAAP results. Non-GAAP financial measures
exclude certain income and/or expense items that management
believes are not directly attributable to the Company’s core
operating results and/or certain items that are inconsistent in
amounts and frequency, making it difficult to perform a meaningful
evaluation of our current or past operating performance. Management
believes that the presentation of operating results using non-GAAP
financial measures provides useful supplemental information to
investors by facilitating the analysis of the Company’s core
test-level operating results across reporting periods and when
comparing those same results to those published by our peers. These
non-GAAP financial measures may also assist investors in evaluating
future prospects. Management also uses non-GAAP financial measures
for financial and operational decision making, planning and
forecasting purposes and to manage the business. These non-GAAP
financial measures do not replace the presentation of financial
information in accordance with U.S. GAAP financial results, should
not be considered measures of liquidity, and are unlikely to be
comparable to non-GAAP financial measures provided by other
companies.
Definitions of Non-GAAP Measures
Non-GAAP Adjusted EBITDA
“Adjusted EBITDA” is defined by NeoGenomics as net (loss) income
from continuing operations before: (i) interest income, (ii)
interest expense, (iii) tax (benefit) or expense, (iv) depreciation
and amortization expense, (v) non-cash stock-based compensation
expense, and, if applicable in a reporting period, (vi)
restructuring charges, and (vii) other significant or non-operating
(income) or expenses, net.
Non-GAAP Adjusted Cost of Revenue,
Adjusted Gross Profit and Adjusted Gross Profit Margin
“Adjusted cost of revenue” is defined by NeoGenomics as cost of
revenue before: (i) amortization expense of acquired intangible
assets, and, if applicable in a reporting period, (ii) non-cash
stock-based compensation expense.
“Adjusted gross profit” is defined by NeoGenomics as total
revenue less adjusted cost of revenue.
“Adjusted gross profit margin” is defined by NeoGenomics as
adjusted cost of revenue divided by total revenue.
Non-GAAP Adjusted Net (Loss)
Income
“Adjusted net (loss) income” is defined by NeoGenomics as net
(loss) income from continuing operations plus: (i) non-cash
amortization of intangible assets, (ii) non-cash stock-based
compensation expense, and, if applicable in a reporting period,
(iii) restructuring charges, and (iv) other significant or
non-operating (income) or expenses, net. If GAAP net (loss) income
is negative and adjusted net (loss) income is positive, adjusted
net (loss) income will also be adjusted to reverse any recognized
interest expense (including any amortization of discounts) on the
convertible notes using the if-converted method unless the effect
of this adjustment on both the adjusted net (loss) income and
weighted average diluted common shares outstanding would be
anti-dilutive. If GAAP net (loss) income is positive and adjusted
net (loss) income is negative, adjusted net (loss) income will also
be adjusted to reverse any recognized interest expense (including
any amortization of discounts) on the convertible notes using the
if-converted method.
Non-GAAP Adjusted Diluted EPS
“Adjusted diluted EPS” is defined by NeoGenomics as adjusted net
(loss) income divided by adjusted diluted shares outstanding. If
GAAP net (loss) income is negative and adjusted net (loss) income
is positive, adjusted diluted shares outstanding will also include
any options or restricted stock that would be outstanding as
dilutive instruments using the treasury stock method and the
weighted average number of common shares that would be outstanding
if the convertible notes were converted into common stock on the
original issue date based on the number of days such common shares
would have been outstanding in the reporting period, until the
effect of these adjustments are anti-dilutive. If GAAP net (loss)
income is positive and adjusted net (loss) income is negative,
adjusted diluted shares outstanding will exclude any options or
restricted stock that would be outstanding as dilutive instruments
using the treasury stock method and the weighted average number of
common shares that would be outstanding if the convertible notes
were converted into common stock on the original issue date based
on the number of days such common shares would have been
outstanding in the reporting period.
Reconciliation of GAAP Net
Loss to Non-GAAP EBITDA and Adjusted EBITDA
(in thousands)
(unaudited)
Three Months Ended March
31,
2024
2023
Net loss (GAAP)
$
(27,061
)
$
(30,795
)
Adjustments to net loss:
Interest income
(4,834
)
(3,224
)
Interest expense
1,685
1,757
Income tax benefit
(620
)
(2,925
)
Depreciation
9,905
9,048
Amortization of intangibles
8,362
8,783
EBITDA (non-GAAP)
$
(12,563
)
$
(17,356
)
Further adjustments to EBITDA:
Non-cash stock-based compensation
expense
7,774
4,758
Restructuring charges
2,398
4,684
Other significant (income) expenses,
net(4)
5,883
798
Adjusted EBITDA (non-GAAP)
$
3,492
$
(7,116
)
_________________
(4)
For the three months ended March
31, 2024, other significant (income) expenses, net, includes site
closure costs, fees related to non-recurring legal matters, and
other non-recurring items. For the three months ended March 31,
2023, other significant (income) expenses, net, includes CEO
transition costs, fees related to a regulatory matter, and other
non-recurring items.
Reconciliation of Segment and
Consolidated GAAP Cost of Revenue, Gross Profit and Gross Profit
Margin to Non-GAAP Adjusted Cost of Revenue, Adjusted Gross Profit
and Adjusted Gross Profit Margin
(dollars in thousands)
(unaudited)
Three Months Ended March
31,
2024
2023
% Change
Clinical
Services:
Total revenue (GAAP)
$
134,535
$
114,869
17.1
%
Cost of revenue (GAAP)
$
76,844
$
67,292
14.2
%
Adjustments to cost of revenue(5)
(4,607
)
(4,264
)
Adjusted cost of revenue
(non-GAAP)
$
72,237
$
63,028
14.6
%
Gross profit (GAAP)
$
57,691
$
47,577
21.3
%
Adjusted gross profit
(non-GAAP)
$
62,298
$
51,841
20.2
%
Gross profit margin (GAAP)
42.9
%
41.4
%
Adjusted gross profit margin
(non-GAAP)
46.3
%
45.1
%
Advanced
Diagnostics
Total revenue (GAAP)
$
21,705
$
22,351
(2.9
)%
Cost of revenue (GAAP)
$
13,927
$
15,114
(7.9
)%
Adjustments to cost of revenue(6)
(698
)
(589
)
Adjusted cost of revenue
(non-GAAP)
$
13,229
$
14,525
(8.9
)%
Gross profit (GAAP)
$
7,778
$
7,237
7.5
%
Adjusted gross profit
(non-GAAP)
$
8,476
$
7,826
8.3
%
Gross profit margin (GAAP)
35.8
%
32.4
%
Adjusted gross profit margin
(non-GAAP)
39.1
%
35.0
%
Consolidated:
Total revenue (GAAP)
$
156,240
$
137,220
13.9
%
Cost of revenue (GAAP)
$
90,771
$
82,406
10.2
%
Adjustments to cost of revenue(5)(6)
(5,305
)
(4,853
)
Adjusted cost of revenue
(non-GAAP)
$
85,466
$
77,553
10.2
%
Gross profit (GAAP)
$
65,469
$
54,814
19.4
%
Adjusted gross profit
(non-GAAP)
$
70,774
$
59,667
18.6
%
Gross profit margin (GAAP)
41.9
%
39.9
%
Adjusted gross profit margin
(non-GAAP)
45.3
%
43.5
%
_________________
(5)
Clinical Services cost of revenue
adjustments for both the three months ended March 31, 2024 and 2023
include $4.3 million of amortization of acquired intangible assets.
Clinical Services cost of revenue adjustments for the three months
ended March 31, 2024 also include $0.3 million of non-cash
stock-based compensation. There were no such amounts recorded for
the three months ended March 31, 2023.
(6)
Advanced Diagnostics cost of
revenue adjustments for both the three months ended March 31, 2024
and 2023 include $0.6 million of amortization of acquired
intangible assets. Advanced Diagnostics cost of revenue adjustments
for the three months ended March 31, 2024 also include $0.1 million
of non-cash stock-based compensation. There were no such amounts
recorded for the three months ended March 31, 2023.
Reconciliation of GAAP Net
Loss to Non-GAAP Adjusted Net Loss and GAAP EPS to Non-GAAP
Adjusted EPS
(in thousands, except per
share amounts)
(unaudited)
Three Months Ended March
31,
2024
2023
Net loss (GAAP)
$
(27,061
)
$
(30,795
)
Adjustments to net loss, net of tax:
Amortization of intangibles
8,362
8,783
Non-cash stock-based compensation
expense
7,774
4,758
Restructuring charges
2,398
4,684
Other significant (income) expenses,
net(7)
5,883
798
Adjusted net loss (non-GAAP)
$
(2,644
)
$
(11,772
)
Net loss per common share
(GAAP)
Diluted EPS
$
(0.21
)
$
(0.25
)
Adjustments to diluted loss per share:
Amortization of intangibles
0.07
0.07
Non-cash stock-based compensation
expense
0.06
0.04
Restructuring charges
0.02
0.04
Other significant (income) expenses,
net(7)
0.05
0.01
Rounding and impact of diluted shares in
adjusted diluted shares(8)
(0.01
)
—
Adjusted diluted EPS (non-GAAP)
$
(0.02
)
$
(0.09
)
Weighted average shares used in
computation of adjusted diluted EPS:
Diluted common shares (GAAP)
126,111
125,026
Dilutive effect of options, restricted
stock, and converted shares(9)(10)
—
—
Adjusted diluted shares outstanding
(non-GAAP)
126,111
125,026
_________________
(7)
For the three months ended March
31, 2024, other significant (income) expenses, net, includes site
closure costs, fees related to non-recurring legal matters, and
other non-recurring items. For the three months ended March 31,
2023, other significant (income) expenses, net, includes CEO
transition costs, fees related to a regulatory matter and other
non-recurring items.
(8)
This adjustment is for rounding
and, in those periods in which GAAP net (loss) income is negative
and adjusted net (loss) income is positive or GAAP net (loss)
income is positive and adjusted net (loss) income is negative, also
compensates for the effects of additional diluted shares included
or excluded in adjusted diluted shares outstanding for the treasury
stock impact of outstanding stock options and restricted stock and
the if-converted impact of convertible notes.
(9)
In those periods in which GAAP
net (loss) income is negative and adjusted net (loss) income is
positive, this adjustment includes any options or restricted stock
that would be outstanding as dilutive instruments using the
treasury stock method and the weighted average number of common
shares that would be outstanding if the convertible notes were
converted into common stock on the original issue date based on the
number of days such common shares would have been outstanding in
the reporting period, until the effect of these adjustments are
anti-dilutive.
(10)
In those periods in which GAAP
net (loss) income is positive and adjusted net (loss) income is
negative, this adjustment excludes any options or restricted stock
that would be outstanding as dilutive instruments using the
treasury stock method and the weighted average number of common
shares that would be outstanding if the convertible notes were
converted into common stock on the original issue date based on the
number of days such common shares would have been outstanding in
the reporting period.
Reconciliation of Non-GAAP Financial
Guidance to Corresponding GAAP Measures (Unaudited, in
thousands, except per share amounts)
GAAP net loss in 2024 will be impacted by certain charges,
including: (i) expense related to the amortization of intangible
assets, (ii) non-cash stock based compensation and (iii)
restructuring charges. These charges have been included in GAAP net
loss available to stockholders and GAAP net loss per share;
however, they have been removed from adjusted net loss and adjusted
diluted net loss per share.
The following table reconciles the Company’s 2024 outlook for
net loss and EPS to the corresponding non-GAAP measures of adjusted
net loss, adjusted EBITDA, and adjusted diluted EPS:
Year Ended December 31,
2024
Low Range
High Range
Net loss (GAAP)
$
(72,000
)
$
(65,000
)
Amortization of intangibles
35,000
35,000
Non-cash stock-based compensation
27,000
26,000
Restructuring charges
7,000
6,000
Acquisition and integration related
expenses
—
—
Other one-time expenses
3,000
3,000
Adjusted net loss (non-GAAP)
—
5,000
Interest and taxes
(20,000
)
(20,000
)
Depreciation
41,000
39,000
Adjusted EBITDA (non-GAAP)
$
21,000
$
24,000
Net loss per diluted share
(GAAP)
$
(0.57
)
$
(0.51
)
Adjustments to net loss per diluted
share:
Amortization of intangibles
0.28
0.28
Non-cash stock-based compensation
expenses
0.21
0.20
Restructuring charges
0.06
0.05
Other one-time expenses
0.02
0.02
Rounding and impact of diluted shares in
adjusted diluted shares(11)
—
—
Adjusted diluted EPS(12)
(non-GAAP)
$
—
$
0.04
Weighted average assumed shares
outstanding in 2024:
Diluted shares (GAAP)
127,000
127,000
Options, restricted stock, and converted
shares not included in diluted shares(12)
—
—
Adjusted diluted shares outstanding
(non-GAAP)
127,000
127,000
_________________
(11)
This adjustment is for rounding
and, in those periods in which GAAP net (loss) income is negative
and adjusted net (loss) income is positive, also compensates for
the effects of additional diluted shares included in adjusted
diluted shares outstanding for the treasury stock impact of
outstanding stock options and restricted stock and the if-converted
impact of convertible notes.
(12)
For those periods in which GAAP
net (loss) income is negative and adjusted net (loss) income is
positive, this adjustment includes any options or restricted stock
that would be outstanding as dilutive instruments using the
treasury stock method and the weighted average number of shares
that would be outstanding if the convertible notes were converted
into common stock on the original issue date based on the number of
days such shares would have been outstanding in the reporting
period, until the effect of these adjustments are
anti-dilutive.
Supplemental
Information
Clinical(13) Tests Performed
and Revenue
(unaudited)
Three Months Ended March
31,
2024
2023
% Change
Clinical(13):
Number of tests performed
300,827
285,476
5.4
%
Average revenue/test
$
447
$
402
11.2
%
_________________
(13)
Clinical tests exclude tests and
revenue for Advanced Diagnostics.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240430130271/en/
NeoGenomics, Inc. Kendra Sweeney Vice President, Investor
Relations and ESG kendra.sweeney@neogenomics.com T:
+1-239-877-7474
NeoGenomics (NASDAQ:NEO)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
NeoGenomics (NASDAQ:NEO)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024