NeoGenomics reported second-quarter 2026 consolidated revenue of $201.7 million, an 11% increase year-over-year, driven by clinical services revenue growth. The company recorded GAAP net income of $2.2 million and delivered adjusted EBITDA of $14.5 million, up 36% versus the prior-year quarter. NeoGenomics also raised full-year 2026 revenue and adjusted EBITDA guidance following a $316 million convertible note offering and related balance sheet actions.

Financial Highlights

  • Total revenue: $201.7 million for the three months ended June 30, 2026, up 11.2% year-over-year (Q2 2025: $181.3 million).
  • Clinical revenue: $187 million for the quarter (reported as clinical revenue up 14% YoY) with NGS revenue growth of 26% (as disclosed in the release).
  • Gross profit: $91.9 million for Q2 2026; GAAP gross profit margin 45.6% and adjusted gross profit margin 48.1% (adjusted to exclude amortization and stock-based compensation).
  • GAAP net income: $2.2 million for Q2 2026 (includes an $11.2 million gain on extinguishment of debt); net income per diluted share $0.02.
  • Adjusted EBITDA (non-GAAP): $14.5 million for Q2 2026, a 36% increase versus Q2 2025 ($10.7 million).

Business Highlights

  • Commercial strategy: Launched a dedicated pathology and oncology commercial team to sharpen go-to-market execution.
  • Reimbursement efforts: Submitted new RaDaR ST evidence to MolDx supporting Medicare reimbursement for a new indication; this is the third RaDaR ST submission to MolDx pending approval.
  • Capital structure: Completed a $316 million private offering of 0.75% convertible senior notes due 2032 and repurchased approximately $276 million aggregate principal of existing convertible notes, along with capped call transactions to reduce potential dilution.
  • Legal/regulatory: Finalized a civil settlement with the Department of Justice resolving a self-disclosed matter and investigation related to consulting services.
  • Operational mix: Continued shift toward higher-value testing modalities, with NGS showing substantial growth and average revenue per clinical test rising to $515 in the quarter.

Original SEC Filing:

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