Inferra AI / Company / NEO / Slides
Neogenomics Inc. — NEO 3Q 2026 Investor Presentation (company IR deck)
Neogenomics Inc. (NEO) · 26 slides · Filed Oct 28, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All NEO deck slides
Slide 1 — Financial Results
Q3 2026 Financial Results October 28, 2026 Nasdaq: NEO
Slide 2 — Safe Harbor Statements
Safe Harbor Statements This presentation has been prepared by NeoGenomics, Inc. (“we,” ”us,” “our,” “NeoGenomics” or the “Company”). Statements contained herein are made as of the date of this presentation unless stated otherwise. This presentation, and the conference call and webcast in connection with which it is presented includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “would,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” “guidance,” “potential,” “on track,” “outlook” and other words of similar meaning, although not all forward-looking statements include these words. These forward-looking statements address various matters, including the Company’s full-year 2026 financial guidance and the assumptions underlying that guidance; the Company’s planned executive leadership and Board succession, including the anticipated timing and effects thereof; the anticipated timing and outcome of pending reimbursement submissions, including MolDX submissions for additional RaDaR ST indications; the Company’s strategy, planned future operations and related expectations with respect to timing and performance, including its Lab of the Future initiatives and its transition to a new revenue cycle management platform; future financial position, future revenues, growth potential and expected growth drivers, projected costs and capital expenditures, prospects and plans, estimates of market size and position, and objectives of management. Each forward-looking statement contained in this presentation is subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to identify and implement appropriate financial and operational initiatives to execute on its strategic priorities; to achieve the revenue and adjusted EBITDA results contemplated by its guidance; to enter new markets and increase market share in both current and new markets; to develop, validate and commercialize new types of tests and to achieve projected increases in test adoption and volume; to obtain and maintain coverage and reimbursement for its tests, including the outcome and timing of pending submissions, over which the Company does not have control; to successfully implement new laboratory and information technology systems, including its new revenue cycle management platform, and to avoid or mitigate disruptions associated with such implementations; to bill and collect for its services on a timely basis and to accurately estimate amounts expected to be collected; to assemble and maintain an effective executive team and retain key personnel, including in connection with its announced leadership and Board succession; and to otherwise implement its business plans, as well as general market conditions and competitive dynamics and the risks identified under the heading “Risk Factors” contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and filed with the Securities and Exchange Commission (“SEC”) on February 17, 2026, and the Company’s other filings with the SEC. The Company’s full-year 2026 guidance is based on management’s current expectations and assumptions as of the date of this presentation, and actual results may differ materially. We caution investors not to place undue reliance on the forward-looking statements contained in this presentation. You are encouraged to read our filings with the SEC, available at www.sec.gov and on our website at www.neogenomics.com, for a discussion of these and other risks and uncertainties. The forward-looking statements in this presentation speak only as of the date of this presentation (unless another date is indicated), and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. Information contained in this presentation concerning our industry and the markets in which we operate, including our general expectations and market position, market opportunity and market size, is based on information from various sources, on assumptions that we have made that are based on such information and other similar sources and on our knowledge of, and expectations about, the markets for our service offerings. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In order to provide greater transparency regarding our operating performance, the financial results and financial guidance in this presentation refer to certain non-GAAP financial measures, such as adjusted EBITDA, adjusted EBITDA margin, adjusted gross profit margin and adjusted gross profit, that involve adjustments to GAAP results. These non-GAAP financial measures exclude certain income and/or expense items that management believes are not directly attributable to the Company’s core operating results and/or certain items that are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance. Management believes that the presentation of operating results using non-GAAP financial measures provides useful supplemental information to investors by facilitating the analysis of the Company’s core test-level operating results across reporting periods. These non-GAAP financial measures may also assist investors in evaluating future prospects. Management also uses non-GAAP financial measures for financial and operational decision making, planning and forecasting purposes and to manage the business. These non-GAAP financial measures do not replace the presentation of financial information in accordance with U.S. GAAP financial results, should not be considered measures of liquidity, and are unlikely to be comparable to non-GAAP financial measures provided by other companies. The Company has provided reconciliations of such non-GAAP financial measures to their most directly comparable financial measures calculated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures set forth in this presentation.
Slide 3 — Vision
Mission We take cancer personally. We partner with physicians to deliver actionable insights that guide personalized treatment decisions and improve outcomes – through a comprehensive oncology portfolio, integrated customer solutions, and an unwavering commitment to excellence. Vision A world where every cancer treatment decision is as personal as the patient.
Slide 4 — Highlights – Third Quarter 2026
Highlights – Third Quarter 2026 Momentum continues to build, positioning NEO for future success FINANCIAL PERFORMANCE OPERATIONAL HIGHLIGHTS 13% 29% 53% Clinical Revenue Growth NGS Revenue Growth Adjusted EBITDA Growth Delivered total company revenue of $209 million Driven by NGS volume growth of 17% Supported by YoY Adj. GM expansion of over 300 bps Leadership Transition Announced MolDX Reimbursement for IO Monitoring Infrastructure Modernization Provides continuity for executive team and BOD A cornerstone of our RaDaR ST launch NovaSeq X, data servers, and billing system upgrades Raising full-year 2026 guidance for both Revenue and AEBITDA Adjusted gross margin and Adjusted EBITDA are non-GAAP financial measures. See adjusted gross profit and adjusted gross profit margin slide in the appendix for reconciliations to gross profit and gross profit margin, respectively, the most directly comparable financial measures calculated in accordance with GAAP. Also see Adjusted EBITDA slide in the appendix for a reconciliation to net loss, the most directly comparable financial measures calculated in accordance with GAAP. 1
Slide 5 — Executive Leadership and BoD Succession Plan
Executive Leadership and BoD Succession Plan A multi-year and deliberate plan rooted in a consistent strategy CHANGES EFFECTIVE JANUARY 4, 2027 Warren Stone CEO & Board Member Current President and COO Tony Zook Executive Chairman Current CEO & Board Member Lynn Tetrault Independent Director Current Chair; not seeking reelection Michael Kelly Lead Independent Director Board member since 2020 KEY TAKEAWAYS Cements our executive leadership team Changes are from a position of strength We have the right strategy and it is working
Slide 6 — Our Focus Areas Remain Consistent
Our Focus Areas Remain Consistent Multiple, overlapping drivers fuel our growth and disciplined margin expansion Deliver Durable NGS Growth Drive MRD Uptake Operational Excellence Growth is supported by new products in Heme and ST, mix shift benefits, and integrated solutions. Market dynamics underpin long-runway ahead Our broad menu, community channel focus, and recent MolDX reimbursement wins lay the foundation for meaningful uptake Make targeted investments to drive top-line growth while expanding AEBITDA margins faster than revenue growth
Slide 7 — NGS is Our Durable Performance Catalyst
NGS is Our Durable Performance Catalyst Quarterly financial information is unaudited. Growth corresponds to prior year period. Charts are for illustrative purposes only. Q3 2025 Q3 2026 Q3 2025 Q3 2026 +29% NGS Revenue Expect over 25% YoY revenue growth in 2026 +17% NGS Volume Expect mid-teens YoY volume growth in 2026 29% YoY growth 17% YoY growth CONSISTENT NGS GROWTH NGS Revenue ~1/3 of Clinical Revenue NGS Volume ~10% of Clinical Volume in Q3 Large NGS Panel >25% Volume Growth Across Heme + Solid Tumor
Slide 8 — RaDaR ST: A Strategic Growth Engine in MRD
T O T A L A D D R E S S A B L E M A R K E T C O V E R A G E 1 ~30% Concurrent attachment rate Drives volume from pull-through of additional tests ~2/3 Orders with Medicare reimbursement ~1/3 of in-indication orders for patients with Medicare coverage RaDaR ST: A Strategic Growth Engine in MRD 1. Neo Estimates. TAM estimates reflect revenue opportunity. 2. Orders from launch through September 30, 2026. T H E H AL O - E F F E C T I S R E AL E X PAN D I N G I N D I C AT I O N S D R I V E F U T U R E R E V E N U E G R O W T H In-indication order rate Demand landing on approved indications ~20% IO Monitoring (new) Subset of Breast HPV- Head & Neck Currently Accessing >20% of MRD TAM 3 Current Indications 2 Pending Submissions Future Access to >40% of MRD TAM Accessing large, nascent, and rapidly growing MRD market for cancer recurrence monitoring
Slide 9 — ~$3.9B
IO Monitoring: A Cornerstone of our Launch Sources: NEO internal estimates. All figures are approximations. TOTAL ADDRESSABLE MARKET ~$3.9B U.S. IO monitoring TAM ~450K Stage IV patients per year on IO therapy in the U.S. ~40% of patients on Medicare Greater mix vs. other indications THE OPPORTUNITY Pan-tumor use cases Standard treatment across many solid tumors Recurring, not one-time Serial draws per patient compound volume No entrenched standard Response assessment relies on imaging alone WHY WE WIN Our portfolio Integrated menu from diagnosis to therapy selection to monitoring Our channel strength Specialized sales teams and a growing oncology field force Customer experience From transactions to trusted partnerships MolDx reimbursement opens a large, underpenetrated opportunity
Slide 10 — 160+
Pathology Dedicated ecosystem: core pathology business Oncology Dedicated ecosystem: Therapy-selection & MRD growth Investing into our Channel & Customer Experience Commercial teams focused on Oncology and Pathology COMMERCIAL TEAMS 160+ Two dedicated ecosystems to drive growth CUSTOMER EXPERIENCE Reducing Friction for ordering providers sales resources at the end of Q3 2026 Oncology and pathology testing from one partner, in one connected workflow Integrated solutions Integrations with Epic Aura and Flatiron carry orders and results through systems practices already use Epic Aura / Flatiron Providing improved visibility to expected test completion timing Order Status Tracker
Slide 11 — Lab of the Future – Modernizing our Infrastructure
Lab of the Future – Modernizing our Infrastructure Six integrated initiatives to drive gross margin expansion Note: RCM defined as revenue cycle management Whole-slide imaging and digital diagnostic workflows Digital Pathology Automated processing and AI- assisted analysis Automation & AI Next-generation sequencing and analyzer platforms Instrument Platform Upgrades Unified laboratory information management system NEO LIMS Implementation Optimized sourcing and supplier contracts Strategic Procurement Savings Streamlined, efficient lab space and layout Lab Footprint Optimization R E C E N T H I G H L I G H T S Partnering with Indica Labs Modernizing IT Systems & RCM platform NovaSeq X Transition On Track
Slide 12 — Q3 Financial Highlights &
Q3 Financial Highlights & Updated Full-Year Guidance
Slide 13 — Strong Revenue and Adjusted EBITDA Growth
Strong Revenue and Adjusted EBITDA Growth Q3 2025 $209M Q3 2026 $188M Revenue ($M) Q3 2025 $19M Q3 2026 $12M Adj EBITDA ($M) 11% YoY growth 53% YoY growth Quarterly financial information is unaudited. Growth corresponds to prior year period. Adjusted EBITDA is a non-GAAP financial measure. See Adjusted EBITDA slide in the appendix for a reconciliation to net loss, the most directly comparable financial measures calculated in accordance with GAAP. Exceeding our quarterly commitments
Slide 14 — Clinical Revenue Performance Drivers
Clinical Revenue Performance Drivers Quarterly financial information is unaudited. Growth corresponds to prior year period. * Clinical volume growth includes headwinds related to the strategic reduction in a high-volume, low-value contract as well as exit from non-oncology testing as part of Pathline acquisition Q3 2025 367k Q3 2026 361k Q3 2025 $530 Q3 2026 $476 Revenue per Test Volume (tests) AUP Increased 11% 2/3 Mix | 1/3 RCM Clinical Volume* +2% Q3 2025 $195M Q3 2026 $172M Clinical Revenue 13% YoY growth 11% YoY growth 2% YoY growth
Slide 15 — Adjusted Gross Margin Expanded Over 300 bps
Adjusted Gross Margin Expanded Over 300 bps Adjusted gross margin and adjusted gross profit margin are used synonymously and defined as total adjusted gross profit divided by total revenue. Adjusted gross margin is a non-GAAP financial measure. See adjusted gross profit and adjusted gross profit margin slide in the appendix for reconciliations to gross profit and gross profit margin, respectively, the most directly comparable financial measures calculated in accordance with GAAP. Figures may not tie due to rounding Adj Gross Margin Q3 2025 Q3 2026 FY 2025 FY 2026 Est 47.5%+ 45% 46% FY Outlook 49% >300 bps >150 bps High-Margin Mix Shift & RCM Drives AUP Efficiencies from Lab of the Future Initiatives Expect well over 150 bps of adjusted GM expansion for full year 2026
Slide 16 — Operating Expenses, Margins, and Cash Position
Operating Expenses, Margins, and Cash Position OP E RAT ING E X PENSE $105M +4% YoY1 AD J. E B ITDA $19M +53% YoY AD J. EB ITDA M AR GIN 8.9% +240 bps YoY TOTAL C ASH $139M Period-end OPERATING LEVERAGE • OpEx up 4% YoY1 to $105M, investments to Sales and R&D partially offset from G&A leverage • Adj. EBITDA up +53% YoY with +240 bps of margin expansion DISCIPLINED MARGIN EXPANSION & CASH • Margin expansion driven by mix shift to higher-value tests, LotF initiatives, and operating expense discipline • Invested $5 million across new NovaSeq X systems and related data infrastructure • Completed $10 million payment to DOJ to resolve legacy, self-disclosed matter 1. Operating expense comparison is a Non-GAAP comparison that excludes $7.1 million of non-recurring impairment charges recognized in the third quarter of 2025. Note: Quarterly financial information is unaudited. Growth corresponds to prior year period. Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by total revenue. See Adjusted EBITDA slide in the appendix for reconciliations to net loss, the most directly comparable financial measures calculated in accordance with GAAP.
Slide 17 — Updating Full Year 2026 Guidance
Updating Full Year 2026 Guidance July 28, 2026 ($ Millions) YoY% Growth $802–806 ~11% at midpoint $56–58 29–34% Guidance as of October 28, 2026 ($ Millions) YoY% Growth Assumptions $807–809 ~11% at midpoint • Clinical revenue to grow low-teens % • NGS revenue to grow over 25% • PanTracer LBx revenue in MSD millions • RaDaR ST revenue in MSD millions • Non-clinical down LDD % YoY ~$60 ~38% • Adj. gross margin expansion over 150 bps YoY Guide Revenue Adj. EBITDA Growth corresponds to prior year period. Adjusted EBITDA is a non-GAAP financial measure. See Adjusted EBITDA 2026 Guidance slide in the appendix for a reconciliation to net loss, the most directly comparable financial measure calculated in accordance with GAAP.
Slide 18 — Growth Catalysts 2026+
Sales force expansion Above market NGS growth Two new reimbursed indications for RaDaR ST PanTracer LBx MolDx reimbursement RaDaR ST launch — HPV- Head & Neck, Breast subset Growth Catalysts 2026+ PROGRESS THROUGH Q3 | 4 GOALS ACHIEVED | RaDaR ST INDICATIONS REMAIN ON TRACK 1 2 4 Achieved Achieved IO Monitoring 2 Subs. Pending Achieved 3 5 Achieved
Slide 19 — Rev. 10.28.2026
© 2026 NeoGenomics Laboratories, Inc. All rights reserved. All other trademarks are the property of their respective owners. Rev. 10.28.2026
Slide 20 — Appendix
Appendix
Slide 21 — Balance
Balance Sheet September 30, 2026 (unaudited, in thousands)
Slide 22 — Income
Income Statement September 30, 2026 (unaudited, in thousands)
Slide 23 — Statements of
Statements of Cash Flows September 30, 2026 (unaudited, in thousands)
Slide 24 — Gross Margin
_________________ (1) Cost of revenue adjustments for the three months ended September 30, 2026, include $4.6 million of amortization and $0.4 million of stock-based compensation. Cost of revenue adjustments for the nine months ended September 30, 2026, include $13.9 million of amortization and $1.1 million of stock-based compensation. Cost of revenue adjustments for the three months ended September 30, 2025, include $4.6 million of amortization and $0.3 million of stock-based compensation. Cost of revenue adjustments for the nine months ended September 30, 2025, include $14.3 million of amortization and $1.1 million of stock-based compensation. Adjusted Gross Margin September 30, 2026 (unaudited, in thousands)
Slide 25 — Adjusted
_________________ (1) For the three and nine months ended September 30, 2026, leadership transition costs include executive severance and executive retention costs. For the three months ended September 30, 2025, leadership transition costs include executive retention costs. For the nine months ended September 30, 2025, leadership transition costs include executive severance costs, executive retention costs, and executive search costs. (2) For the nine months ended September 30, 2026, acquisition and integration related expenses include severance costs. There were no such costs for the three months ended September 30, 2026. For the three and nine months ended September 30, 2025, acquisition and integration related expenses include consulting and legal fees, severance costs, and employee retention costs. (3) For the three months ended September 30, 2025, impairment charges include an impairment of a disposal group held for sale. For the nine months ended September 30, 2025, impairment charges include losses from InVisionFirst®-Lung intangible asset impairment and inventory write-off, and impairment of a disposal group held for sale. There were no such costs for the three and nine months ended September 30, 2026. (4) For the three and nine months ended September 30, 2026 and September 30, 2025, IP litigation costs include legal fees. (5) For the three and nine months ended September 30, 2026, other significant expenses, net, include severance and retention costs. There were no such costs for the three and nine months ended September 30, 2025. Adjusted EBITDA September 30, 2026 (unaudited, in thousands)
Slide 26 — Adjusted
Adjusted EBITDA 2026 Guidance (unaudited, in thousands) _________________ (1) This adjustment is for rounding and, in those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive, also compensates for the effects of additional diluted shares included in adjusted diluted shares outstanding for the treasury stock impact of outstanding stock options and restricted stock and the if-converted impact of convertible notes. (2) For those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive, this adjustment includes any options or restricted stock that would be outstanding as dilutive instruments using the treasury stock method and the weighted average number of shares that would be outstanding if the convertible notes were converted into common stock on the original issue date based on the number of days such shares would have been outstanding in the reporting period, until the effect of these adjustments are anti-dilutive. GAAP net loss in 2026 will be impacted by certain charges, including: (i) amortization, (ii) stock-based compensation, and (iii) other one-time expenses. These charges have been included in GAAP net loss available to stockholders and GAAP net loss per share; however, they have been removed from adjusted net loss and adjusted diluted net income per share. The following table reconciles the Company’s 2026 outlook for net loss and EPS to the corresponding non-GAAP measures of adjusted net income, adjusted EBITDA, and adjusted diluted EPS: