NeoGenomics (NEO)
NASDAQ:NEO
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NeoGenomics
(NASDAQ:NEO)
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Rating:52Neutral
Price Target:
$8.50
▲(4.17% Upside)
Action:ReiteratedDate:02/18/26
The score is held back primarily by weak financial quality (continued losses and negative free cash flow) and soft near-term technical momentum. These are partially offset by constructive FY2026 guidance (revenue growth, higher adjusted EBITDA, and an aim for free-cash-flow positivity) and modestly positive governance/news flow.
Positive Factors
Sustained revenue growth and scale
Revenue has grown materially versus pre-pandemic levels (from mid‑$400M in 2020 to $727M in 2025), showing durable demand for oncology diagnostics. Scale supports investment in product launches, capacity, and commercialization, underpinning longer‑term margin and growth opportunities.
Negative Factors
Ongoing net losses and negative free cash flow history
Despite improving operating cash flow, the company has a recent track record of negative free cash flow and operating/net losses, which constrain returns and capital flexibility. Sustained profitability is required to convert revenue scale into durable shareholder value.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth and scale
Revenue has grown materially versus pre-pandemic levels (from mid‑$400M in 2020 to $727M in 2025), showing durable demand for oncology diagnostics. Scale supports investment in product launches, capacity, and commercialization, underpinning longer‑term margin and growth opportunities.
Read all positive factors
NeoGenomics (NEO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.13B
Dividend YieldN/A
Average Volume (3M)1.87M
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth10.10%
EPS Growth-44.29%
CountryUS
Employees2,200
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)0.06
Shares Outstanding129,812,210
10 Day Avg. Volume2,257,039
30 Day Avg. Volume1,867,457
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)0.36
Price to Sales (P/S)0.41
P/FCF Ratio-13.83
Enterprise Value/Market Cap0.47
Enterprise Value/Revenue0.72
Enterprise Value/Gross Profit1.71
Enterprise Value/Ebitda-13.58
Forecast
1Y Price Target
$14.75Price Target Upside80.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.17
Revenue Forecast (FY)$796.70M
NeoGenomics Business Overview & Revenue Model
Company Description
NeoGenomics, Inc. operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference la...
How the Company Makes Money
NeoGenomics generates revenue primarily from laboratory testing and related oncology diagnostic services. A key revenue stream is clinical testing for patient care, where it performs cancer diagnostic and molecular tests ordered by healthcare prov...
NeoGenomics Earnings Call Summary
Earnings Call Date:Feb 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Positive
The call presented a constructive operational and commercial story: record FY2025 revenue, robust clinical and NGS growth, new product launches (RADAR ST, PanTracer Pro), strong customer satisfaction (NPS 79), and a confident 2026 financial guide with meaningful adjusted EBITDA growth and a goal to achieve free cash flow positivity. Offsetting these positives are notable headwinds: a significant decline in nonclinical revenue, near-term margin pressure from the Pathline acquisition and launch costs, intentional volume rationalization that temporarily lowered volumes, and timing uncertainty around MolDX reimbursements for key liquid offerings. Management articulated clear strategies to prioritize higher-value testing, expand the salesforce, and deliver LIMS-driven efficiency gains over the coming years.Positive Updates
Record Revenue and Full-Year Growth
Total revenue for FY2025 was $727.0M, representing 10% growth versus FY2024; Q4 total revenue was $190.0M, up 11% year-over-year.
Negative Updates
Nonclinical Revenue Decline
Nonclinical revenue declined over 25% in Q4 and decreased 24% for the full year 2025, contributing to margin pressure and being a known softness in the 2026 guide.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Revenue and Full-Year Growth
Total revenue for FY2025 was $727.0M, representing 10% growth versus FY2024; Q4 total revenue was $190.0M, up 11% year-over-year.
Read all positive updates
Company Guidance
NeoGenomics guided full‑year 2026 revenue of $793 million to $801 million (midpoint ~$797M), assuming RADAR ST generates mid‑single‑digit millions and PANTRASER liquid a modest contribution, with nonclinical revenue remaining soft and exiting the year down low‑to‑mid single digits; management said RADAR ST/PANTRASER and the Pathline impact are weighted to the back half of the year. They outlined a quarterly cadence of roughly +10% YoY in Q1, +8–9% in Q2, +9–10% in Q3 and slightly above +10% in Q4, and expect adjusted EBITDA of $55M–$57M (≈27–31% YoY growth), with adjusted EBITDA growth of low‑20% YoY in Q1–Q2 and low‑30% YoY in Q3–Q4. Management also expects adjusted gross margin improvement of ~100–120 basis points in 2026, plans to add more than 25 oncology sales specialists by Q3 to support launches, anticipates only modest RADAR ST revenue in 2026 with acceleration in 2027, aims to be free‑cash‑flow positive this year, and finished 2025 with ~$160M cash and $5M of operating cash flow.NeoGenomics Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
37
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 727.33M | 660.57M | 591.64M | 509.73M | 484.33M |
| Gross Profit | 282.54M | 290.10M | 244.60M | 187.90M | 187.06M |
| EBITDA | 1.75M | -1.51M | -17.61M | -82.33M | -65.40M |
| Net Income | -108.03M | -78.73M | -87.97M | -144.25M | -8.35M |
Balance Sheet | |||||
| Total Assets | 1.36B | 1.64B | 1.68B | 1.74B | 1.87B |
| Cash, Cash Equivalents and Short-Term Investments | 159.62M | 386.84M | 415.20M | 437.99M | 515.39M |
| Total Debt | 472.28M | 605.33M | 611.68M | 610.93M | 612.79M |
| Total Liabilities | 523.27M | 735.70M | 739.69M | 742.01M | 761.50M |
| Stockholders Equity | 836.56M | 902.34M | 941.54M | 998.02M | 1.11B |
Cash Flow | |||||
| Free Cash Flow | -21.78M | -34.04M | -30.70M | -96.88M | -90.86M |
| Operating Cash Flow | 5.23M | 7.02M | -1.95M | -65.99M | -26.72M |
| Investing Cash Flow | -12.34M | 12.86M | 76.71M | 517.00K | -632.37M |
| Financing Cash Flow | -200.29M | 4.65M | 4.55M | 11.83M | 725.28M |
NeoGenomics Technical Analysis
Negative
8.16
Price Trends
9.07
Negative
10.65
Negative
9.35
Negative
Market Momentum
-0.20
Negative
47.42
Neutral
76.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NEO, the sentiment is Negative. The current price of 8.16 is above the 20-day moving average (MA) of 7.92, below the 50-day MA of 9.07, and below the 200-day MA of 9.35, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 47.42 is Neutral, neither overbought nor oversold. The STOCH value of 76.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NEO.
NeoGenomics Risk Analysis
NeoGenomics disclosed 43 risk factors in its most recent earnings report. NeoGenomics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NeoGenomics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $731.98M | -46.67 | -5.27% | ― | 10.15% | -295.52% | |
54 Neutral | $2.04B | -7.70 | -17.11% | ― | 20.53% | 82.91% | |
52 Neutral | $1.13B | -2.79 | -12.64% | ― | 10.10% | -44.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $481.02M | -13.36 | -5.40% | ― | 13.60% | 74.64% | |
48 Neutral | $485.31M | ― | -79.81% | ― | 0.21% | -233.51% | |
48 Neutral | $895.70M | -4.27 | -17.42% | ― | -9.75% | -31.28% |
* Healthcare Sector Average
NEO
NeoGenomics
8.16
-1.39
-14.55%
MYGN
Myriad Genetics
5.00
-2.64
-34.55%
OPK
Opko Health
1.21
-0.21
-14.79%
FLGT
Fulgent Genetics
16.13
-1.73
-9.69%
CSTL
Castle Biosciences
24.56
3.05
14.18%
GRAL
GRAIL Inc
49.47
22.47
83.22%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.