NeoGenomics Q1 revenue up 14% to $156M; Adjusted EBITDA turns positive at $3M

NEOGENOMICS INC

Clinical Services revenue rose 17% to $135M; test volume up 5% YoY, revenue per test up 11% to $447.
Advanced Diagnostics revenue declined 3% to $22M; consolidated net loss narrowed 12% to $27M.
Adjusted EBITDA was $3M, a $10M improvement from -$7M in Q1 2023; cash and equivalents at $385M.
FY 2024 guidance reaffirmed: revenue $650M-$660M (10-12% growth), Adjusted EBITDA $21M-$24M.
CEO Chris Smith cited solid execution, NGS adoption growth, and consecutive revenue-per-test improvement.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEOGENOMICS INC reported the period ended March 31, 2024 results: revenue $156 million, net income Net loss of $27 million. Guidance reaffirmed.

Period: the period ended March 31, 2024
Revenue: $156 million
Net income: Net loss of $27 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

NeoGenomics Reports First Quarter 2024 Results First Quarter Revenue Increased 14% to $156 Million

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Source: SEC EDGAR

accession 0001077183-24-000052

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