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Sep 30, 2020
NeoGenomics Q3 2020 Earnings Report
Reported a robust third quarter, marked by revenue growth and strategic investments.
Key Takeaways
NeoGenomics reported a 20% increase in consolidated revenue, reaching $125 million in Q3 2020. The company saw growth in both Clinical Services and Pharma Services, driven by increased test volume and strategic investments in areas such as global Pharma Services, Informatics, and liquid biopsy.
Consolidated revenue increased by 20% to $125 million.
Clinical Services revenue grew by 17% to $109 million, driven by COVID-19 PCR testing revenue of $17 million.
Pharma Services revenue increased by 38% to $17 million due to growth in clinical trials.
Pharma Services backlog increased 57% to $185 million.
Forward Guidance
NeoGenomics did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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