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Jun 30, 2020
NeoGenomics Q2 2020 Earnings Report
Reported revenue of $87 million in the second quarter amid COVID-19 pandemic.
Key Takeaways
NeoGenomics reported a challenging second quarter due to the global COVID-19 crisis, which reduced both revenue and earnings. However, the company made several strategic moves and investments, including fortifying the balance sheet, investing in Inivata, launching liquid biopsy tests, globalizing Pharma Services, and operationalizing a high-capacity COVID-19 testing laboratory.
Consolidated revenue decreased 14% to $87 million.
Clinical Services revenue decreased 17% to $74 million.
Pharma Services revenue increased 3% to $13 million.
Pharma Services backlog increased 63% to $173 million.
Forward Guidance
No forward guidance was provided in the press release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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