NeoGenomics
NEONASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $16.96 Prior regular-session close from the quote source.
- $16.75–$17.67 Regular-session low and high so far today.
- 957.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Jan 11 projected Projected for 2027-01-11 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $7.07–$20.15 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own NEO if NeoGenomics can compound shareholder value by converting its oncology-focused scale, broad test menu (especially NGS and MRD) and community-hospital penetration into sustained revenue growth and improving margins, provided it preserves cash flow while integrating.
NEO price history
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Investment thesis
What must happen next
Adoption of NeoGenomics’ expanded NGS and MRD assays in the community oncology channel will sustain above-industry revenue growth because the company sells a broad, oncology-focused menu plus consultative services that lower switching costs for community providers.StrengtheningMateriality: High
Revenue rose from $509,728,000 (2022) to $727,332,000 (2025), showing sustained top-line growth. If true, revenue growth funds margin expansion and justifies a premium multiple; if false, top-line growth slows and valuation re-rates.
Watch: Major payor cuts to NGS/MRD reimbursement or a broad FDA imposition of premarket LDT reviews that restrict ability to offer in-house assays.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Revenue rose from $509,728,000 (2022) to $727,332,000 (2025), showing sustained top-line growth.
Open source ↗Scale of the lab network plus automation and process improvements will continue to lower per-test cost and sustain gross margin expansion, protecting pricing power versus small regional labs.HoldingMateriality: High
Gross profit increased from $187,896,000 (2022) to $314,293,000 (2025), indicating improved absolute gross-dollar contribution. Rising gross margins are the lever that converts growth into operating profit and cash; if margins compress, GAAP losses may persist regardless of revenue.
Watch: Sustained reagent or consumable price inflation or supply shortages that materially raise COGS.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Gross profit increased from $187,896,000 (2022) to $314,293,000 (2025), indicating improved absolute gross-dollar contribution.
Open source ↗Achieving sustained GAAP operating income depends on controlling SG&A and realizing acquisition synergies (e.g., Pathline) so that Adjusted EBITDA improvements translate into operating income.HoldingMateriality: Medium
Adjusted EBITDA reported up 9.5% to positive $43.4M in 2025 (MD&A) while GAAP operating income remains negative, indicating the gap driven by non-EBITDA items and integration/SG&A. Adjusted EBITDA is positive, but without converting to GAAP operating income the company remains exposed to write-offs, stock-based dilution, and multiple compression.
Watch: Failed integration of Pathline or other acquisitions that increases SG&A and one-time charges.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Adjusted EBITDA reported up 9.5% to positive $43.4M in 2025 (MD&A) while GAAP operating income remains negative, indicating the gap.
Open source ↗Near-term capital-allocation flexibility depends on sustaining positive operating cash flow; if operating cash flow falters, the company will face increased risk of dilution or debt-financed M&A.HoldingMateriality: Medium
Operating cash flow turned from -$65,993,000 (2022) to -$1,953,000 (2023), then to positive $7,023,000 (2024) and $5,230,000 (2025), a narrow positive trend. Sustained positive OCF preserves the balance sheet (cash fell materially in 2025) and funds automation, R&D and potential bolt-ons without diluting shareholders.
Watch: Large, cash-consuming acquisitions or unexpected litigation settlements that exceed operating cash generation.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow turned from -$65,993,000 (2022) to -$1,953,000 (2023), then to positive $7,023,000 (2024) and $5,230,000 (2025), a narrow.
Open source ↗
Full investment case & evidence
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Original research
Adoption of NeoGenomics’ expanded NGS and MRD assays in the community oncology channel will sustain above-industry revenue growth because the company sells a broad, oncology-focused menu plus consultative services that lower switching costs for community providers. If true, revenue growth funds margin expansion and justifies a premium multiple; if false, top-line growth slows and valuation re-rates.
Scale of the lab network plus automation and process improvements will continue to lower per-test cost and sustain gross margin expansion, protecting pricing power versus small regional labs. Rising gross margins are the lever that converts growth into operating profit and cash; if margins compress, GAAP losses may persist regardless of revenue.
Achieving sustained GAAP operating income depends on controlling SG&A and realizing acquisition synergies (e.g., Pathline) so that Adjusted EBITDA improvements translate into operating income. Adjusted EBITDA is positive, but without converting to GAAP operating income the company remains exposed to write-offs, stock-based dilution, and multiple compression.
Near-term capital-allocation flexibility depends on sustaining positive operating cash flow; if operating cash flow falters, the company will face increased risk of dilution or debt-financed M&A. Sustained positive OCF preserves the balance sheet (cash fell materially in 2025) and funds automation, R&D and potential bolt-ons without diluting shareholders.
All standing thesis claims
Original report summary
NeoGenomics can compound shareholder value by converting its oncology-focused scale, broad test menu (especially NGS and MRD) and community-hospital penetration into sustained revenue growth and improving margins, provided it preserves cash flow while integrating.
Bull case and bear case
Bull case and bear case for Neogenomics
Where the evidence on Neogenomics stands: Holding on the latest evidence (Nov 7, 2026). Of its 4 thesis points, 1 strengthening and 3 holding.
Bull case: what the evidence supports
Adoption of NeoGenomics’ expanded NGS and MRD assays in the community oncology channel will sustain above-industry revenue growth because the company sells a broad, oncology-focused menu plus consultative services that lower switching costs for community providers.
Scale of the lab network plus automation and process improvements will continue to lower per-test cost and sustain gross margin expansion, protecting pricing power versus small regional labs.
Achieving sustained GAAP operating income depends on controlling SG&A and realizing acquisition synergies (e.g., Pathline) so that Adjusted EBITDA improvements translate into operating income.
Near-term capital-allocation flexibility depends on sustaining positive operating cash flow; if operating cash flow falters, the company will face increased risk of dilution or debt-financed M&A.
Bear case: what would count against it
Major payor cuts to NGS/MRD reimbursement or a broad FDA imposition of premarket LDT reviews that restrict ability to offer in-house assays.
Sustained reagent or consumable price inflation or supply shortages that materially raise COGS.
Failed integration of Pathline or other acquisitions that increases SG&A and one-time charges.
Thesis-Break Engine
What has broken in Neogenomics’s thesis
Each break OptimistFi flagged on Neogenomics, dated — with what has historically followed the same kind of break across the market, not a forecast for Neogenomics.
- CEO / officer changecondition set before this filing
Across all companies, this kind of break has happened 16,849 times before. Those stocks trailed comparable companies by a median of 2% over the next six months, and 38% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Neogenomics filed an SEC 8-K on 2026-10-28: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Neogenomics filed an SEC 8-K on 2026-10-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Neogenomics filed an SEC 8-K on 2026-08-11: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Major payor cuts to NGS/MRD reimbursement or a broad FDA imposition of premarket LDT reviews that restrict ability to offer in-house assays.
- Sustained reagent or consumable price inflation or supply shortages that materially raise COGS.
- Failed integration of Pathline or other acquisitions that increases SG&A and one-time charges.
- Large, cash-consuming acquisitions or unexpected litigation settlements that exceed operating cash generation.
NEO news
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Financial statements
NEO income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
NEO: quick answers
- When does Neogenomics (NEO) report earnings next?
- Neogenomics's next results are projected for January 11, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 28, 2026. Earnings calendar
- What is NEO's short interest?
- As of October 30, 2026, 13.1M NEO shares were sold short, 10.2% of its shares outstanding, down 7.6% from the count before. At the stock's average daily volume that is 6.7 days to cover. FINRA publishes the count twice a month. NEO short interest history
- Have members of Congress traded NEO?
- Reports made public in the last 90 days disclose 2 trades in NEO by 2 filers: 2 purchases and 0 sales. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed NEO trade