NEOGENOMICS INC NEO
NeoGenomics, Inc., a Nevada corporation (referred to individually as the "Company" or collectively with its subsidiaries as "NeoGenomics," "we," "us," or "our" in this Annual Report on Form 10-K) is the registrant for SEC reporting purposes. Our common stock is listed on The Nasdaq Stock Market LLC ("Nasdaq") under the symbol "NEO."
NeoGenomics provides a wide range of oncology diagnostic testing and consultative services including technical laboratory services and professional interpretation of laboratory test results by licensed physicians or molecular experts who specialize in pathology and oncology. We operate a network of cancer-focused testing laboratories in the United States and the United Kingdom. Our mission is to save lives by improving patient care. Our vision is to become the world's leader in cancer testing, information, and decision support by providing uncompromising quality, exceptional service, and innovative solutions.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $727.3M | $660.6M | $591.6M | $509.7M | $484.3M | $444.4M | $408.8M | $276.7M | $240.3M | $231.8M |
| Cost of revenue | $413.0M | $370.5M | $347.0M | $321.8M | $297.3M | $258.6M | $212.0M | $149.5M | $138.3M | $133.7M |
| Gross profit | $314.3M | $290.1M | $244.6M | $187.9M | $187.1M | $185.9M | $196.8M | $127.3M | $102.0M | $98.1M |
| R&D | $37.1M | $31.2M | $27.3M | $30.3M | $21.9M | $8.2M | $8.5M | $3.0M | $3.6M | $4.6M |
| SG&A | $273.3M | $259.7M | $243.1M | $243.4M | $221.3M | $143.8M | $128.0M | $84.8M | $70.4M | $63.9M |
| Total operating expenses | $430.2M | $382.2M | $352.3M | $345.5M | $305.8M | $199.9M | $183.8M | $117.2M | $99.1M | $95.9M |
| Operating income | -$115.9M | -$92.1M | -$107.7M | -$157.6M | -$118.8M | -$14.0M | $13.0M | $10.0M | $2.9M | $2.2M |
| Interest expense | $3.8M | $6.6M | $6.9M | $7.6M | $8.2M | $7.0M | $3.7M | $6.2M | $5.5M | $10.0M |
| Pre-tax income | -$110.3M | -$80.7M | -$97.1M | -$159.3M | -$15.1M | -$14.1M | $3.6M | $3.8M | -$2.6M | -$7.8M |
| Income tax | $2.2M | $1.9M | $9.1M | $15.1M | $6.7M | $18.2M | $4.4M | $1.2M | $2.3M | $1.7M |
| Net income | -$108.0M | -$79.0M | -$88.0M | -$144.0M | -$8.0M | $4.2M | $8.0M | $2.6M | -$396.0K | -$6.1M |
| Shares, diluted (wtd. avg.) | $128.1M | $126.7M | $125.5M | $124.2M | $120.0M | $111.8M | $103.6M | $91.6M | $79.4M | $77.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $159.6M | $367.0M | $342.5M | $263.2M | $316.8M | $250.6M | $173.0M | $9.8M | $12.8M | $12.5M |
| Short-term investments | — | — | — | — | $198.6M | $67.5M | $0 | — | — | — |
| Receivables | $159.2M | $150.5M | $131.2M | $119.7M | $112.1M | $106.8M | $94.2M | $76.9M | $60.4M | $55.5M |
| Inventory | $28.6M | $26.7M | $24.2M | $24.3M | $23.4M | $29.5M | $14.4M | $8.7M | $7.5M | $6.3M |
| Total current assets | $376.3M | $596.0M | $596.8M | $605.3M | $681.5M | $448.7M | $290.7M | $103.7M | $85.9M | $78.8M |
| Property, plant and equipment | $84.8M | $94.1M | $92.0M | $102.5M | $109.5M | $85.9M | $64.2M | $60.9M | $36.5M | $34.0M |
| Goodwill | $524.3M | $522.8M | $522.8M | $522.8M | $527.1M | $211.1M | $198.6M | $197.9M | $147.0M | $147.0M |
| Other intangibles | $286.5M | $339.7M | $373.1M | $408.3M | $442.3M | $120.7M | $126.6M | $140.0M | $74.2M | $77.1M |
| Total assets | $1.36B | $1.64B | $1.68B | $1.74B | $1.87B | $988.3M | $709.5M | $505.0M | $344.5M | $337.1M |
| Accounts payable | $23.1M | $21.6M | $20.3M | $20.5M | $17.9M | $25.0M | $19.6M | $17.8M | $10.4M | $16.8M |
| Short-term debt | $0 | $200.8M | — | — | — | $0 | $5.0M | $7.9M | $3.8M | $3.8M |
| Total current liabilities | $88.3M | $301.2M | $96.3M | $89.9M | $87.2M | $73.2M | $63.9M | $60.9M | $36.5M | $38.1M |
| Long-term debt | $341.9M | $340.3M | $538.2M | — | — | — | — | $92.9M | $91.1M | $91.9M |
| Total liabilities | $523.3M | $735.7M | $739.7M | $742.0M | $761.5M | $294.0M | $202.1M | $184.6M | $139.9M | $150.5M |
| Retained earnings | -$433.8M | -$325.8M | -$247.1M | -$159.1M | -$14.8M | -$7.2M | -$11.4M | -$19.4M | -$58.4M | -$52.5M |
| Total equity | $836.6M | $902.3M | $941.5M | $998.0M | $1.11B | $694.3M | $507.4M | $320.4M | $172.0M | $162.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.2M | $7.0M | -$2.0M | -$66.0M | -$26.7M | $1.5M | $23.4M | $44.8M | $18.0M | $21.5M |
| Depreciation and amortisation | $36.1M | $39.1M | $37.5M | $35.4M | $30.2M | $25.9M | $20.3M | $15.8M | $15.6M | $15.9M |
| Stock-based compensation | $41.3M | $33.4M | $24.6M | $24.7M | $22.5M | $10.2M | $10.0M | $7.0M | $6.4M | $5.4M |
| Capital expenditure | $27.0M | $41.1M | $28.8M | $30.9M | $64.1M | $29.1M | $20.0M | $14.3M | $13.7M | $7.5M |
| Investing cash flow | -$12.3M | $12.9M | $76.7M | $517.0K | -$632.4M | -$159.4M | -$19.6M | -$139.7M | -$13.7M | -$6.5M |
| Financing cash flow | -$200.3M | $4.6M | $4.6M | $11.8M | $725.3M | $235.6M | $159.5M | $92.0M | -$4.1M | -$25.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001077183-26-000014.
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