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Sep 30, 2025
NeoGenomics Q3 2025 Earnings Report
NeoGenomics reported its third quarter 2025 financial results, highlighting a 12% increase in total revenue and significant growth in clinical and NGS revenue.
Key Takeaways
NeoGenomics delivered a strong third quarter in 2025, with total revenue reaching a record $188 million, an increase of 12% year-over-year. This growth was primarily fueled by an 18% expansion in clinical revenue, with NGS revenue notably increasing by 24% and now constituting nearly one-third of clinical revenue. Despite a 53% increase in net loss to $27 million, the company achieved a positive adjusted EBITDA of $12.2 million, although this was a 9% decline from the prior year. The company reaffirmed its full-year guidance for revenue, net loss, and adjusted EBITDA, indicating confidence in its core business and long-term growth initiatives.
Total revenue increased by 12% year-over-year to a record $188 million, driven by strong clinical business performance.
Clinical revenue grew by 18%, with Next-Generation Sequencing (NGS) revenue increasing by 24% and comprising nearly one-third of clinical revenue.
Net loss for the quarter increased by 53% to $27 million, compared to a net loss of $18 million in the prior year.
Adjusted EBITDA was positive $12.2 million, representing a 9% decrease from the third quarter of 2024, while adjusted gross profit margin was 45.5%.
Revenue by Segment
Forward Guidance
NeoGenomics re-affirmed its full-year 2025 financial guidance, anticipating continued growth in clinical volumes, including NGS testing, to drive performance in the fourth quarter and position the company for increased momentum in 2026.
Positive Outlook
- Re-affirming full-year guidance for revenue, net loss, and adjusted EBITDA, indicating confidence in future performance.
- Anticipated continued growth in clinical volumes, including NGS testing, in the fourth quarter.
- Positioning the company for increased momentum entering 2026.
- Focus on customer experience, broad oncology-centric test menu, and commercial organization continues to differentiate the company.
- Goal to bring the latest cancer testing innovation to community hospitals and oncologists.
Challenges Ahead
- Continued weakness in non-clinical revenue, although anticipated and incorporated into guidance.
- Full-year net loss guidance projects an increase from $79 million in FY 2024 to between $108 million and $116 million in FY 2025.
Revenue & Expenses
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