NeoGenomics beats Q1 revenue
- NeoGenomics said April 28 that first-quarter 2026 revenue rose 11% to a record $186.7 million, topping guidance as its clinical business grew faster. - Clinical revenue climbed 14% to $171.2 million, with next-generation sequencing up 26% and average revenue per clinical test rising 8%. - The company raised 2026 revenue guidance to $797 million-$803 million after launching RaDaR ST and winning MolDX coverage. (ir.neogenomics.com)
NeoGenomics reported first-quarter 2026 revenue of $186.7 million on April 28, up 11% from a year earlier and above its prior guidance. (ir.neogenomics.com) (fool.com) The cancer-testing company said clinical revenue rose 14% to $171.2 million, while non-clinical revenue fell 15% to $15.5 million as pharma demand stayed soft. (fool.com) (ir.neogenomics.com) Next-generation sequencing revenue grew 26% year over year and accounted for about one-third of clinical revenue, according to the earnings call. (fool.com) Average revenue per clinical test increased 8% to $495, and management said the mix shifted toward more complex oncology tests rather than routine send-outs. (ir.neogenomics.com) (fool.com) Those higher-value tests include minimal residual disease assays, which look for tiny traces of cancer left behind after treatment by scanning blood for tumor DNA. NeoGenomics said it fully launched RaDaR ST, a circulating tumor DNA test for molecular residual disease, in the quarter. (ir.neogenomics.com) The company also said PanTracer LBx, its blood-based comprehensive genomic profiling test for advanced solid tumors, received a favorable MolDX coverage decision in March. MolDX is the Medicare program that determines whether many molecular diagnostics will be reimbursed. (ir.neogenomics.com) (fool.com) NeoGenomics raised full-year 2026 revenue guidance to $797 million to $803 million from $793 million to $801 million after the quarter. Management tied the increase to the stronger start to the year and the PanTracer Liquid coverage win. (fool.com) (ir.neogenomics.com) Profitability also improved. Net loss narrowed 34% to $17 million, and adjusted EBITDA was positive $9 million, up 27% from a year earlier. (ir.neogenomics.com) (fool.com) By quarter’s end, NeoGenomics had $146 million in cash, versus operating cash outflow of $8.1 million, improved from $25.3 million a year earlier. (fool.com) The quarter left NeoGenomics leaning harder into a simple bet: faster growth is coming from pricier molecular cancer tests, and the company now expects that mix shift to carry through the rest of 2026. (ir.neogenomics.com) (fool.com)
