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Sep 30, 2024
NeoGenomics Q3 2024 Earnings Report
NeoGenomics reported strong Q3 2024 results with double-digit revenue growth and significant adjusted EBITDA increase, while serving a record number of patients.
Key Takeaways
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.
Forward Guidance
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.
Positive Outlook
- Revised FY 2024 Guidance Low: Consolidated revenue $655 million
- Revised FY 2024 Guidance Low: Adjusted EBITDA $37 million
- Revised FY 2024 Guidance High: Consolidated revenue $667 million
- Revised FY 2024 Guidance High: Net loss $(78) million
- Revised FY 2024 Guidance High: Adjusted EBITDA $40 million
Challenges Ahead
- Revised FY 2024 Guidance Low: Net loss $(81) million
- The Company reserves the right to adjust this guidance at any time based on the ongoing execution of its business plan.
- Current and prospective investors are encouraged to perform their own due diligence before buying or selling any of the Company’s securities
Historical Earnings Impact
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Avg. Return Before/After Earnings
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