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Dec 31, 2025
NeoGenomics Q4 2025 Earnings Report
NeoGenomics reported an increase in fourth-quarter consolidated revenue and a decrease in net loss, driven by strong clinical volumes and a shift towards higher-value tests.
Key Takeaways
NeoGenomics, Inc. announced its fourth-quarter and full-year 2025 results, reporting a consolidated revenue of $190 million for Q4, an 11% increase over the previous year. The net loss for the quarter decreased by 36% to $10 million, and adjusted EBITDA increased by 13% to $13 million. Full-year consolidated revenue reached $727 million, up 10% from 2024, with a full-year net loss of $108 million and adjusted EBITDA of $43 million.
Fourth quarter consolidated revenue increased 11% to $190 million, driven by strong clinical volumes and a mix shift towards higher-value tests.
Net loss for the fourth quarter decreased by 36% to $10 million, indicating improved financial performance.
Adjusted EBITDA for the fourth quarter increased by 13% to $13 million, reflecting operational efficiency.
NGS revenue grew 23% in Q4 and 22% for the full year, significantly outpacing the market growth rate.
Forward Guidance
NeoGenomics issued full-year 2026 guidance, projecting consolidated revenue between $793 million and $801 million, a net loss between $(63) million and $(50) million, and adjusted EBITDA between $55 million and $57 million.
Positive Outlook
- Anticipated revenue growth of 9% to 10% from FY 2025 to FY 2026.
- Projected increase in Adjusted EBITDA by 27% to 31% from FY 2025 to FY 2026.
- Imminent clinical launch of RaDaR ST MRD assay is expected to enhance the menu of advanced tests.
- RaDaR ST MRD assay is expected to address the $20+ billion molecular residual disease monitoring market.
- The company believes RaDaR ST and PanTracer family of therapy selection solutions will be key drivers of long-term revenue growth.
Challenges Ahead
- Projected net loss for FY 2026, ranging from $(63) million to $(50) million.
- Modest revenue contribution from MRD is anticipated in 2026, with substantial impact expected in 2027 and beyond.
- GAAP net loss in 2026 will be impacted by charges related to amortization of intangible assets, stock-based compensation, and other one-time expenses.
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