NeoGenomics revenue rises 11% as NGS growth slows
The oncology diagnostics company reported fourth-quarter revenue of $190 million.
NeoGenomics (NEO), the oncology diagnostics provider, reported fourth-quarter revenue that rose 11% to $190 million.
The results reflected a period of decelerating growth in high-end testing and widening annual losses, though the company narrowed its quarterly deficit. Full-year revenue for 2025 increased 10% to $727 million, up from $661 million in 2024.
Net losses for the full year increased 37% to $108 million, compared to a $79 million loss in the prior year. However, the fourth-quarter net loss decreased 36% to $10 million, compared to a $15 million loss in the fourth quarter of 2024.
Growth in Next-Generation Sequencing (NGS) slowed to 23% in the fourth quarter and 22% for the full year, down from 34% growth in 2024. The company saw average revenue per clinical test increase 5% to $488 in the fourth quarter, compared to $465 in the same period last year.
Profitability metrics were mixed. Adjusted gross profit margin compressed to 46.4% in the fourth quarter from 48.0% in the fourth quarter of 2024. Full-year adjusted EBITDA rose 9% to $43 million, compared to $40 million in 2024.
NeoGenomics finalized a civil settlement with the DOJ/OIG-HHS on July 20, 2026, agreeing to pay $9,813,260 plus 4.250% annual interest from January 16, 2026. The company had previously accrued a reserve of $11.2 million for the matter.