NeoGenomics Reports Third Quarter 2025 Results

NeoGenomics, Inc., a leading provider of oncology diagnostic solutions, has released its financial results for the third quarter of 2025. The company reported a 12% year-over-year increase in total revenue, reaching $188 million, driven by significant growth in its clinical revenue segment.

Financial Highlights

For the third quarter of 2025, NeoGenomics reported consolidated revenue of $188 million, marking a 12% increase compared to the same period in 2024. Clinical revenue grew by 18%, while Next-Generation Sequencing (NGS) revenue saw a notable 24% year-over-year increase, now accounting for nearly one-third of the clinical revenue. Despite these gains, the company experienced a 53% increase in net loss, amounting to $27 million, and a 9% decline in adjusted EBITDA, which stood at $12 million.

Business and Operational Highlights

NeoGenomics' clinical test volumes increased by 15%, contributing to the overall revenue growth. The average revenue per clinical test rose by 3% to $476, reflecting a shift towards higher-value tests, including NGS. The company's gross profit for the quarter was $80 million, a 7% increase from the previous year, with a gross profit margin of 43%.

Strategic Initiatives and Corporate Developments

During the third quarter, NeoGenomics incurred $7.1 million in impairment charges related to the planned sale of Trapelo and $4.7 million in higher compensation and benefit costs. These were partially offset by a decrease in restructuring costs. The company also reaffirmed its full-year 2025 guidance, projecting consolidated revenue between $720 million and $726 million, and adjusted EBITDA between $41 million and $44 million.

Management's Perspective

CEO Tony Zook expressed satisfaction with the company's performance, highlighting the strong growth in clinical test volumes and NGS revenue. He emphasized NeoGenomics' focus on advancing long-term growth initiatives in therapy selection and minimal residual disease (MRD) testing. Zook also noted the company's commitment to enhancing the customer experience and its position as a preferred partner for community hospitals and oncologists.

Future Outlook

NeoGenomics remains optimistic about its future prospects, expecting continued growth in clinical volumes and NGS testing to drive performance in the fourth quarter and into 2026. The company aims to maintain its momentum by leveraging its comprehensive oncology-focused test menu and strong commercial organization.

Original SEC Filing: NEOGENOMICS INC [ NEO ] - 8-K - Oct. 28, 2025