NeoGenomics (NASDAQ:NEO) shares plunged on Tuesday after the cancer lab operator reported lower-than-expected revenue for Q1 2025 as its topline contracted sequentially for the first time since late 2022.
Fort Myers, Florida-based NeoGenomics (NASDAQ:NEO) posted $168.0M in revenue for the quarter with ~8% YoY growth compared to the prior year period. However, despite ~1% growth in clinical volumes, its topline indicated a ~2% YoY decline from the preceding quarter as clinical revenue per test fell ~1% to $459.
Meanwhile, the company’s non-GAAP gross profit margin reached ~47%, up from ~45% in the prior-year period, as NeoGenomics’ (NASDAQ:NEO) adjusted net loss reached $459M, down 82% YoY from the prior-year period when there was over $2B in restructuring charges.
The company raised its full-year revenue guidance to $747M - $759M, ahead of $738M in the consensus and up from $735M - $745M previously, to account for $12M - $14M revenue related to its Pathline acquisition early this month. Other elements of the outlook were mostly unchanged.
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