NeoGenomics reported a 10% increase in consolidated revenue, reaching $168 million, and a 305% increase in adjusted EBITDA to $13 million. Clinical Services revenue grew by 14% to $146 million, driven by higher value tests and strategic reimbursement initiatives. The company revised its full-year 2024 adjusted EBITDA guidance to $37-$40 million.
Consolidated revenue increased 10% to $168 million.
Clinical Services revenue increased 14% to $146 million.
Adjusted EBITDA increased 305% to $13 million.
Net loss decreased 4% to $18 million.
The Company again revised its full-year 2024 guidance, as previously revised on July 29, 2024. Revised FY 2024 Guidance Low: Consolidated revenue $655 million, Net loss $(81) million, Adjusted EBITDA $37 million. Revised FY 2024 Guidance High: Consolidated revenue $667 million, Net loss $(78) million, Adjusted EBITDA $40 million.
Analyze how earnings announcements historically affect stock price performance