NeoGenomics Q2 Revenues Rise 11 Percent, Company Raises Full-Year Guidance
The Florida-based oncology diagnostics firm posted NGS revenue growth of 26 percent and clinical test volume growth of 2 percent.
NeoGenomics said on July 28 that its second quarter revenues rose 11 percent year over year.
The Fort Myers, Florida-based oncology diagnostics company reported Q2 2026 revenue of $201.7 million, up from $181.3 million in Q2 2025, beating the consensus Wall Street estimate of $197.0 million. Clinical services revenue grew 14 percent to $187 million, driven by NGS revenue growth of 26 percent. Clinical test volume grew 2 percent to 363,498 tests, while average revenue per clinical test rose 12 percent to $515.
“Revenue growth of 11 percent year-over-year exceeded our outlook, with NGS revenue growth of 26 percent reflecting a continued mix shift to more advanced testing modalities,” CEO Tony Zook said in a statement.
Net income for the quarter was $2.2 million, or $.02 per share, compared to a net loss of $45.1 million, or $.35 per share, in Q2 2025. The Q2 2026 figure includes an $11.2 million gain on extinguishment of debt related to the company’s convertible note refinancing. The prior-year quarter included $20.0 million in impairment charges. Adjusted EPS was $.05, beating the consensus Wall Street estimate of $.03.
NeoGenomics’ R&D expenses rose 19 percent to $10.8 million from $9.0 million in Q2 2025. SG&A expenses fell 4 percent to $90.9 million from $95.8 million in Q2 2025.
During the quarter, NeoGenomics completed a $316 million private offering of convertible senior notes due 2032, using the proceeds to repurchase approximately $276 million in principal of its existing convertible notes due 2028. The company also repurchased $25 million of its common stock.
As of June 30, NeoGenomics had $145.5 million in cash and cash equivalents.
NeoGenomics raised its full-year 2026 revenue guidance to $802 million to $806 million, representing growth of 10 to 11 percent, from a prior range of $797 million to $803 million. The company also improved its full-year net loss outlook to $42 million to $34 million from a prior range of $63 million to $50 million.