NeoGenomics (NEO) investor relations material

Executive summary

• Q2 2026 revenue rose 11–11.2% year-over-year to $201.7–$202 million, led by 14% clinical growth and 26% NGS growth, with net income of $2–$2.2 million reversing a prior-year loss.

• Adjusted EBITDA increased 36% to $14–$14.5 million, and adjusted net income was $7 million, up from $4 million a year ago.

• Commercial strategy was enhanced with a dedicated pathology and oncology team, and RaDaR ST submission was made to MolDx for Medicare reimbursement.

• Raised $316 million via convertible senior notes due 2032, retiring $274–$276 million of 2028 notes, and repurchased $25 million in common stock.

• Settled a DOJ matter for $10 million, impacting Q3 cash from operations.

Financial highlights

• Adjusted gross margin expanded by 260 basis points year-over-year to 48–48.1%.

• Adjusted gross profit increased 18–19% to $92–$96.9 million.

• Operating expenses were $101.6–$102 million, down 3–19% year-over-year, mainly due to prior-year impairment charges.

• Generated $20 million in operating cash and invested $8 million in capital purchases.

• Cash and equivalents at quarter end were $145.5–$146 million.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $802–$806 million, with adjusted EBITDA guidance of $56–$58 million.

• Clinical business expected to grow in low teens, NGS in mid-20% range, and non-clinical business projected to decline high single digits.

• Gross margin improvement of 100–150 basis points anticipated for full year 2026.

• Adjusted EBITDA expected to grow over 30% year-over-year at the midpoint.

• Net loss for 2026 expected to narrow to $42–$34 million, a 61–69% improvement.