NeoGenomics (NEO) TD Cowen 46th Annual Health Care Conference summary

Strategic positioning and product launches

• Positioned at an inflection point with multiple pivotal product launches, including PanTracer and RaDaR ST, targeting therapy selection and MRD, especially in solid tumors.

• PanTracer family expansion (Tissue, Liquid, Pro) aims to address the full continuum of care and drive NGS growth.

• RaDaR ST re-entry into a $20+ billion MRD market is expected to accelerate growth into 2027 and beyond.

• Ongoing investments in automation and AI are expected to enhance revenue quality and gross margin expansion.

• Confident in PanTracer Liquid's future coverage and growth impact, with expectations for meaningful contribution post-MolDX approval.

Market opportunity and competitive landscape

• Community-focused approach leverages guideline-driven adoption, with migration from single gene to comprehensive genomic profiling (CGP) solutions.

• Positioned to benefit from vendor consolidation trends, offering solutions across heme and solid tumors.

• Actively engaging with Illumina's new chemistry to maintain technological edge.

• Hematologic malignancy business holds about 25% market share, with plans to evolve toward whole-genome sequencing as guidelines shift.

Sales force and customer engagement

• Sales force expansion aligned with NGS portfolio growth, now servicing over 40% of U.S. oncologists and pathologists with five or more tests annually, up 14% from 2024.

• Net Promoter Score for oncologists surpassed 80 in Q4 2025, reflecting improved perception and operational effectiveness.

• Sales team prioritizes high-probability practices and desk sells physicians to maximize efficiency.

• Anticipates growing sales force from 140 to 165 by year-end to support new indications.