NeoGenomics Q3 2021 Earnings Report

NeoGenomics reported a consolidated revenue of $121 million, a decrease of 3% year-over-year, but increased 12% when excluding prior year COVID-19 revenue. The company plans to double its Clinical Services sales and medical affairs teams to support RaDaR™ and drive growth.

Key Takeaways

NeoGenomics reported a consolidated revenue of $121 million, a decrease of 3% compared to the same period in 2020. However, excluding COVID-19 PCR testing, Clinical Services revenue increased by 11% year-over-year. The company is planning to double its sales team to support RaDaR™.

Consolidated revenue of $121 million, with $102 million from Clinical Services and $19 million from Pharma Services.

Consolidated revenue decreased 3% due to the discontinuation of prior year COVID-19 revenue; increased 12% when excluding prior year COVID-19 revenue.

Clinical Services revenue increased 11% when excluding COVID-19 PCR testing revenue in prior year.

Announced plan to double its Clinical Services sales and medical affairs teams to further support RaDaR™.

Average Revenue Per Clinical Test

$375