Neogenomics Inc
NASDAQ:NEO
Neogenomics Inc
NeoGenomics Inc. stands as a formidable player in the field of cancer diagnostics, carving out a niche where precision and innovation meet the urgent needs of patients and healthcare providers. Born out of the vision to advance cancer diagnostics through a blend of clinical testing and state-of-the-art technology, NeoGenomics offers oncologists and pathologists an extensive menu of tests that target genetic markers critical for cancer diagnosis and monitoring. The company operates through a network of high-complexity laboratories in the United States and a growing presence internationally, leveraging its vast technological capabilities to provide services like cytogenetics, molecular testing, and solid tumor testing. This breadth of service allows NeoGenomics to sit squarely at the intersection of patient care and the burgeoning field of personalized medicine.
By anchoring its revenue streams primarily in laboratory services, NeoGenomics draws its financial strength from a diverse clientele of community-based healthcare providers, academic institutions, and pharmaceutical companies. The firm capitalizes on the demand for precision diagnostics, as more treatments necessitate an intimate understanding of the tumor’s genetic makeup. This careful calibration between cutting-edge science and clinical practice not only fuels its growth but also positions NeoGenomics as an indispensable partner in the continuum of cancer care. Additionally, its collaborations with pharmaceutical companies open doors to new revenue channels via companion diagnostic development and clinical trial support services, exemplifying an agile approach in the dynamic landscape of oncology.
NeoGenomics Inc. stands as a formidable player in the field of cancer diagnostics, carving out a niche where precision and innovation meet the urgent needs of patients and healthcare providers. Born out of the vision to advance cancer diagnostics through a blend of clinical testing and state-of-the-art technology, NeoGenomics offers oncologists and pathologists an extensive menu of tests that target genetic markers critical for cancer diagnosis and monitoring. The company operates through a network of high-complexity laboratories in the United States and a growing presence internationally, leveraging its vast technological capabilities to provide services like cytogenetics, molecular testing, and solid tumor testing. This breadth of service allows NeoGenomics to sit squarely at the intersection of patient care and the burgeoning field of personalized medicine.
By anchoring its revenue streams primarily in laboratory services, NeoGenomics draws its financial strength from a diverse clientele of community-based healthcare providers, academic institutions, and pharmaceutical companies. The firm capitalizes on the demand for precision diagnostics, as more treatments necessitate an intimate understanding of the tumor’s genetic makeup. This careful calibration between cutting-edge science and clinical practice not only fuels its growth but also positions NeoGenomics as an indispensable partner in the continuum of cancer care. Additionally, its collaborations with pharmaceutical companies open doors to new revenue channels via companion diagnostic development and clinical trial support services, exemplifying an agile approach in the dynamic landscape of oncology.
Record Revenues: NeoGenomics delivered all-time high quarterly revenue of $190 million in Q4 2025, representing 11% year-over-year growth, and full year revenue of $727 million, up 10% from 2024.
Clinical Segment Strength: Clinical revenue grew 16% in Q4 and 15% for the full year, driven by strong execution, higher test volumes, and an increasing mix of high-value Next-Generation Sequencing (NGS) tests.
NGS Momentum: NGS revenue jumped 23% year-over-year in Q4, with NGS now accounting for about one-third of clinical revenue.
Margin Expansion: Adjusted EBITDA rose 10% to $13.4 million in Q4 and 9% to $43.4 million for the year. Gross margin is expected to improve by 100–120 basis points in 2026.
2026 Guidance: Management guided 2026 revenue to $793–801 million (around 10% growth), with adjusted EBITDA of $55–57 million, representing 27–31% year-over-year growth.
Product Pipeline: Full launch of RaDaR ST MRD assay planned by end of Q1, with revenue from this and PanTracer liquid expected to ramp in the second half of 2026 pending reimbursement approvals.
Sales Force Expansion: More sales specialists will be added in 2026, particularly for oncology and MRD, to drive further penetration in targeted markets.
Shift to High-Value Tests: The company is intentionally exiting low-value, high-volume contracts to focus on higher-margin, high-AUP testing, which is expected to drive future growth.
