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Mar 31, 2023
NeoGenomics Q1 2023 Earnings Report
NeoGenomics' first quarter results were announced, featuring a 17% increase in consolidated revenue.
Key Takeaways
NeoGenomics reported a strong first quarter with a 17% increase in consolidated revenue, driven by double-digit growth in both Clinical and Pharma Services. The company's strategic initiatives from the second half of 2022 are positively impacting the business, leading to significant operating leverage and an improvement in Adjusted EBITDA.
Consolidated revenue increased by 17% to $137 million.
Clinical Services revenue increased by 16% to $115 million.
Pharma Services revenue increased by 22% to $22 million.
Consolidated gross profit increased by 43.4% to $54.8 million.
Forward Guidance
The company revised its full-year 2023 guidance, initially issued on February 23, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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