NeoGenomics Reports Q3 2026 Revenue Growth Driven by Next-Generation Sequencing
NeoGenomics (NEO) reported strong third-quarter results for 2026, with total revenue reaching $209 million, an 11% increase year-over-year. The growth was primarily fueled by a 13% rise in clinical services and a significant 29% surge in next-generation sequencing (NGS) revenue, driven by robust demand in hematology and solid tumor diagnostics. The company demonstrated improved profitability with Adjusted EBITDA rising 53% to $19 million and an expansion of adjusted gross margins to 48.6%. While nonclinical revenue saw a 10% decline due to legacy pharmaceutical contract headwinds, the company raised its full-year 2026 revenue guidance to a range of $807 million to $809 million. Despite these gains, management noted potential margin pressures related to the launch phase of RaDaR ST and reimbursement challenges for certain molecular residual disease (MRD) testing. Additionally, the company addressed a $10 million DOJ settlement payment and ongoing transitions in revenue cycle management systems.
Tickers: $NEO
Topics: Clinical Services EBITDA Expansion Guidance Raise NGS Revenue Revenue Growth