NeoGenomics Lifts 2026 Outlook As Third-Quarter Net Loss Shrinks To $8 Million From $27 Million
The cancer testing lab also named President and COO Warren Stone as its next CEO, effective January 4, 2027.
NeoGenomics, which runs cancer-focused diagnostic laboratories, raised its 2026 revenue and adjusted EBITDA guidance Wednesday after third-quarter revenue rose 11% to $209 million and its net loss narrowed to $8 million from $27 million a year earlier. The company also said President and COO Warren Stone will succeed Tony Zook as CEO.
Price did the heavy lifting
Clinical revenue climbed 13% to $195 million, led by a 29% jump in revenue from next-generation sequencing tests, the company said. Clinical test volume rose only 2%, while average revenue per clinical test rose 11% to $530.
GAAP gross margin widened by 340 basis points (3.4 percentage points) to 46%. Operating expenses fell $3 million, or 3%, to $105 million. Adjusted EBITDA, which strips out items such as stock pay and amortization, rose 53% to $19 million from $12 million.
Cash stood at $139 million at quarter end, down from $159.6 million at the end of 2025. Net loss for the first nine months was $22.4 million, against $98.1 million a year earlier.
A modestly higher forecast
NeoGenomics now expects 2026 revenue of $807 million to $809 million, up from $802 million to $806 million. It sees adjusted EBITDA of about $60 million, compared with a prior range of $56 million to $58 million, and a net loss of $30 million to $32 million.
CEO Tony Zook said the business is shifting toward higher-value, high-margin testing and that the company expects to "reduce complexity across our business through operational excellence initiatives."
Stone to take the CEO seat
Stone becomes CEO and a board member on January 4, 2027, and Zook will then move to Executive Chairman.
NeoGenomics provides cancer diagnostic testing to pathology and oncology practices, hospitals, academic centers and drugmakers. In the quarter it also won a third Medicare-covered indication for its RaDaR ST test, covering immunotherapy response monitoring in late-stage solid tumors, and expanded in-network agreements with several commercial payers.
Management scheduled a webcast and conference call on its results for 4:30 p.m. Eastern Wednesday.
Sources
- 8-K Filing — NEOGENOMICS INC (NEO) — SEC EDGAR
- Exhibit a99-109302026earningsrelea.htm — NEOGENOMICS INC 8-K exhibit — SEC EDGAR
- NeoGenomics: Q3 Earnings Snapshot | wusa9.com — Associated Press
- NeoGenomics: Q3 Earnings Snapshot – WTOP News — wtop.com
