NEOGENOMICS (NEO) Company Report

NeoGenomics is at an inflection point with upcoming product launches, including the PanTracer family (Tissue, Liquid, Pro) for therapy selection and RaDaR ST for minimal residual disease (MRD), re-entering a $20+ billion market.
The company anticipates 100 basis points of gross margin expansion in 2026, driven by a shift to higher-margin tests and operational efficiencies.
For 2026, revenue growth is expected to be primarily from high single-digit Average Unit Price (AUP) growth and low single-digit volume growth, influenced by the strategic exit from a low-value, high-volume contract that accounted for 3%-4% of 2025 volumes.
The sales force is planned to expand from 140 to approximately 165 by year-end to support new indications, building on its current penetration of over 40% of oncologists and pathologists in the U.S. market.
The non-clinical business is projected to experience modest erosion in 2026 before returning to growth in 2027.

3 days ago

Transcript

NeoGenomics Discusses Strategic Growth Drivers and Financial Outlook at TD Cowen Conference

NEO

Product Launch

Guidance Update

Revenue Acceleration/Inflection

NeoGenomics is at an inflection point with upcoming product launches, including the PanTracer liquid biopsy and the re-entry into the MRD market with RaDaR ST, which targets a $20 billion-plus market.
Management anticipates PanTracer liquid to be a significant growth driver, expecting it to replicate the success of PanTracer solid, and expresses confidence in its MolDX approval.
The company expects to achieve approximately 100 basis points of gross margin expansion in its 2026 guide, driven by a shift towards higher-margin tests and operational efficiencies.
NeoGenomics strategically terminated a low-value contract in Q4 2025, which represented 3%-4% of overall volumes in 2025 at an Average Unit Price (AUP) of $200 per test. This decision is expected to drive high single-digit AUP growth in 2026, with underlying volume growth in the mid-single digits when excluding this contract.
The sales force is projected to grow from 140 to approximately 165 by the end of 2026 to support new indications for RaDaR ST, building on a 14% increase in physicians writing five or more Neo tests and an oncologist Net Promoter Score of over 80 in Q4 2025.

3 days ago

Transcript

NeoGenomics Discusses Product Launches, Growth Strategy, and Financial Outlook at TD Cowen Conference

NEO

Product Launch

Guidance Update

Revenue Acceleration/Inflection

NeoGenomics is at an inflection point with multiple product launches, including the PanTracer family (Tissue, Liquid, Pro) for therapy selection and the re-entry of RaDaR ST into the MRD market, expected to accelerate growth into 2027-2028.
The company anticipates 100 basis points of gross margin expansion in 2026, driven by a strategic shift towards higher-margin therapy selection and MRD tests, and operational efficiencies like LIMS implementation and lab automation.
For 2026, the non-NGS clinical business is projected to grow in the mid-single digits, while the non-clinical business is expected to see modest erosion before returning to growth in 2027.
A low-value, high-volume contract cancellation (representing 3-4% of 2025 volumes) will cause 2026 revenue growth to be primarily driven by high single-digit Average Unit Price (AUP) growth, with underlying volume growth remaining mid-single digit when adjusted.
Customer satisfaction among oncologists is strong, with a Net Promoter Score (NPS) over 80 in Q4 2025, reflecting the effectiveness of the expanded sales force and portfolio strategy.

3 days ago

Transcript

NeoGenomics Launches RaDaR ST

NEO

Product Launch

New Projects/Investments

NeoGenomics (NEO) has launched RaDaR ST, a circulating tumor DNA (ctDNA) assay for detecting molecular residual disease (MRD) across multiple solid tumor types.
The company estimates the addressable market for MRD to be over $20 billion, growing at 30% annually, and currently less than 10% penetrated.
RaDaR ST is approved by Medicare for its initial launch indications, with two additional indications submitted for reimbursement.

Feb 25, 2026, 12:05 PM

Press Release

NeoGenomics Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance, and Details Product Launches

NEO

Earnings

Guidance Update

Product Launch

NeoGenomics reported Q4 2025 total revenue of $190 million, an 11% year-over-year increase, and full-year 2025 total revenue of $727 million, representing 10% growth over 2024.
For 2026, the company expects revenues of $793 million-$801 million and adjusted EBITDA of $55 million-$57 million, which is projected to be a 27%-31% year-over-year growth.
The company is preparing for a full clinical launch of its RaDaR ST MRD assay by the end of February 2026 and has launched PanTracer Pro as part of its expanded solid tumor therapy selection portfolio.
NeoGenomics is strategically shifting testing capacity towards higher-value testing, which is expected to make average unit price (AUP) expansion a more significant driver of revenue growth, with NGS revenue growing 23% year-over-year in Q4 2025.

Feb 17, 2026, 1:30 PM

Transcript

NeoGenomics Reports Strong Q4 and FY 2025 Results, Initiates 2026 Guidance, and Launches RaDaR ST

NEO

Earnings

Product Launch

Guidance Update

NeoGenomics reported Q4 2025 revenue of $190 million, an 11% year-over-year growth, and full-year 2025 revenue of $727 million, a 10% year-over-year growth. The company achieved its 10th consecutive quarter of positive adjusted EBITDA in Q4 2025, reaching $13 million, a 13% growth.
The company is launching RaDaR ST for MRD in February 2026, targeting the cancer recurrence monitoring market, and is expanding its PanTracer portfolio with Pro.
For full-year 2026, NeoGenomics initiated guidance projecting revenue between $793 million and $801 million (approximately 10% YoY growth at midpoint) and adjusted EBITDA between $55 million and $57 million (representing 27-31% YoY growth).

Feb 17, 2026, 1:30 PM

Presentation

NeoGenomics Reports Strong Q4 and Full-Year 2025 Results, Issues Positive 2026 Guidance, and Advances Key Product Launches

NEO

Earnings

Guidance Update

Product Launch

Revenue Acceleration/Inflection

NeoGenomics reported Q4 2025 total revenue of $190 million, an 11% year-over-year increase, with clinical business revenue growing 16% and NGS revenue growing 23%. For the full year 2025, total revenue was $727 million, representing 10% growth over 2024, and adjusted EBITDA increased 9% to $43.4 million.
The company provided 2026 revenue guidance of $793 million-$801 million and adjusted EBITDA guidance of $55 million-$57 million, which represents 27%-31% year-over-year growth.
Key product initiatives include the full clinical launch of the RaDaR ST MRD assay in February 2026, with modest revenue contributions expected in 2026 and acceleration in 2027 and beyond. Additionally, PanTracer Pro was recently launched, and PanTracer LBx is awaiting MolDX reimbursement.
NeoGenomics is strategically shifting its focus towards higher-value, higher-margin tests, expecting AUP (Average Unit Price) growth in the upper single-digit range and volume growth in the lower- to mid-single-digit range for 2026. This strategy is anticipated to lead to an expansion of adjusted gross margins by approximately 100-120 basis points in 2026.

Feb 17, 2026, 1:30 PM

Transcript

NeoGenomics Reports Record Q4 and Full-Year 2025 Results, Issues Strong 2026 Guidance

NEO

Earnings

Guidance Update

Product Launch

NeoGenomics reported record revenues of $190 million in Q4 2025, an 11% year-over-year increase, contributing to a full-year 2025 revenue of $727 million, up 10% from 2024. Adjusted EBITDA for Q4 2025 was $13.4 million, up 10%, and $43.4 million for the full year 2025, up 9%.
For 2026, the company issued guidance projecting revenues between $793 million and $801 million and adjusted EBITDA in the range of $55 million-$57 million, representing 27%-31% year-over-year growth.
Strategic initiatives include the full clinical launch of the RaDaR ST MRD assay in February 2026 and a focus on higher-value, higher-margin tests, which is expected to drive gross margin expansion of 100-120 basis points in 2026. NGS revenue grew 23% in Q4 2025 and is expected to perform similarly or better in 2026.

Feb 17, 2026, 1:30 PM

Transcript

NeoGenomics Reports Fourth Quarter and Full Year 2025 Results and 2026 Guidance

NEO

Earnings

Guidance Update

Product Launch

NeoGenomics reported full-year 2025 consolidated revenue of $727 million, a 10% increase over 2024, and fourth-quarter 2025 consolidated revenue of $190 million, an 11% increase over the prior year period.
For full-year 2025, the company's net loss was $108 million, while Adjusted EBITDA reached $43 million.
The company issued full-year 2026 guidance, expecting consolidated revenue between $793 million and $801 million and Adjusted EBITDA between $55 million and $57 million.
NGS (Next-Generation Sequencing) revenue grew 23% in Q4 2025 and 22% for the full year 2025, with an imminent clinical launch of the RaDaR ST MRD assay planned.

Feb 17, 2026, 12:05 PM

Press Release

NeoGenomics Highlights Strong Growth and Upcoming RaDaR ST Launch at JP Morgan Healthcare Conference

NEO

Earnings

Guidance Update

Product Launch

NeoGenomics (NEO), an oncology "pure play" lab, reported double-digit revenue growth and nine consecutive quarters of positive adjusted EBITDA.
The company is entering the rapidly growing $20+ billion solid tumor MRD (minimum residual disease) cancer monitoring market with the anticipated launch of RaDaR ST in Q1 2026, a market projected to grow at a 30% CAGR.
Preliminary revenue for Q4 2025 is projected at $190 million (up from $172 million in Q4 2024), and full-year 2025 revenue is expected to be $727 million (up from $661 million in FY 2024).

Jan 14, 2026, 1:15 AM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for NEOGENOMICS.

Q4 2025

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Q3 2025

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Q2 2025

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