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Jun 30, 2024
NeoGenomics Q2 2024 Earnings Report
NeoGenomics reported an increase in revenue and positive adjusted EBITDA in Q2 2024.
Key Takeaways
NeoGenomics reported a 12% increase in consolidated revenue to $165 million and a significant rise in adjusted EBITDA to $11 million. The company has raised its full-year revenue and adjusted EBITDA guidance.
Consolidated revenue increased by 12% to $165 million.
Clinical Services revenue grew by 15% to $141 million.
Adjusted EBITDA saw a 630% increase, reaching $11 million.
Net loss decreased by 23% to $19 million.
Forward Guidance
The company revised its full-year 2024 guidance, raising revenue guidance to $655 to $667 million and adjusted EBITDA to $33 to $37 million.
Positive Outlook
- Consolidated revenue is expected to be between $655 million and $667 million.
- Adjusted EBITDA is projected to be between $33 million and $37 million.
- The guidance reflects an anticipated year-over-year revenue growth of 11% to 13%.
- The guidance indicates a substantial increase in Adjusted EBITDA compared to the previous year.
- Company is well positioned to continue the momentum in the second half of the year
Challenges Ahead
- Net loss is projected to be between $(88) million and $(81) million.
- The company reserves the right to adjust this guidance at any time based on the ongoing execution of its business plan.
- Estimates should not be construed as a guarantee of future performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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